The wealth of rich families in the region and the world adversely affected by weaker U.S. dollar against other currencies
June 7,2011
Affect the overall continued weakness of the dollar against other currencies, in assessing the wealth of rich families in the world at large, and the Arab region in particular. And grow the wealth of Arab families are usually with high oil prices and the accumulation of financial surpluses that result from that, and encourages Governments to expansion in spending on vital projects in the sectors of infrastructure, which will reflect positively on economic growth in Arab countries, especially the ones of the Petroleum Exporting .
But the weakness of the dollar, the currency adopted by many families in the region to evaluate their assets Cash and cash equivalents, in addition to the dangers of low-evaluation of assets, you may pay wealthy families to search for assets is more stable in terms of pricing and more flexibility in the face of the challenges associated with weak currencies and investment problems in general, according to the weekly report for «Mazaya Holding». He highlighted the targeted assets, according to the report, real estate, especially those producing income, after the sector recorded growth rates evident in the global markets in the Gulf markets .
The report was issued in light of the dollar’s decline to its lowest level in a month against a basket of currencies after the U.S. data negative stoked fears of slowing economic recovery, and resulted in proceeds of U.S. Treasury bonds decimal to register the lowest level in six months below three percent, of what kind of pressure on the dollar . In contrast, the euro rose after it cut its « Moody »credit rating of Greece. The announcement by the United States plan for quantitative easing (monetary recovery) is the first and the second in recent months, a series of developments led to the so-called war of currencies, Valtiser quantitative monetary policy used by some central banks to increase the supply of cash to increase reserves for the banking system .
An earlier report for «benefits» pointed out that the weakness in the dollar against other currencies, will re-raising of the issue of re-evaluating currencies. Observers expect that the Gulf currencies, at the top of the currencies in emerging markets, which re-evaluate dollar peg, especially the UAE dirham and the Saudi riyal, the aim of preventing the negative impact of inflation on local economies. The report also pointed to the new «benefits» to a concentration of wealthy Arab families in the Gulf states, especially Saudi Arabia and the UAE, which enhances the overall orientation of the rich Arab families to protect their assets from the decline in value and inflation risks associated with high oil prices and increased production .
The «benefits» to Arab families in the event did not announce the monetary authorities in the Gulf of re-evaluating Gulf currencies pegged to the dollar, will try to deal alone with the expected weakening of the dollar in the coming months, under the studied «Organization of Petroleum Exporting Countries» (OPEC) raised its production for the first time since 2007, that may lower oil prices, which hovered around $ 100 .
A report by a specialist that Saudi Arabia topped the list of first ten countries in the world in the degree of concentration of super-rich families, and seized each of Kuwait, Qatar and the UAE have signed from this list. He noted the annual report prepared by the «Boston Consulting Group » about the world’s wealth, for there are 18 family super-rich out of 100 thousand wealthy family in Saudi Arabia, followed by Switzerland at 10 out of 100 thousand, noting that the value of assets under management rose by 8.6 percent in Middle East and Africa to achieve a record high of U.S. $ 4.5 trillion in 2010, expected to rise to 6.7 trillion dollars in 2015. Came Hong Kong in third place (nine families), followed by Kuwait (eight families) and Austria (eight families ) and Norway (seven families) and Qatar (six families) and Denmark (five families) and Singapore (five families) and the UAE (five families).
The report noted that net worth does not reflect the risk appetite among investors in the region are still weak, compared to a phase that preceded the financial recession, adding that the investment of the wealthy in the GCC countries of the assets in the products of cash and semi-cash, is still high, which is affected by fluctuations and a weakening dollar .
According to the report itself, the world’s wealth continued recovering steadily in 2010, driven by growth in all areas in almost every economic, and increased nine trillion dollars, or eight percent, reaching a record high of $ 121.8 trillion dollars, more than about $ 20 trillion, compared to 2009, when financial crisis was at its peak .
The report places North America at the forefront of the absolute increase market wealth in assets under management, which amounted to $ 3.6 trillion, and ranked second in terms of growth rate of 10.2 percent, with assets under management 38.2 trillion dollars, making it the richest region in the world by acquiring a third of global wealth almost. In Europe, the wealth grew by 4.8 percent, a percentage less than the global average, however the region has gained an increase of $ 1.7 trillion of wealth managed growth slowed with the strength of the euro against the dollar .
The fastest growth of wealth was in the Asia-Pacific (excluding Japan) , a rate of 17.1 percent, while the ES growth in the Middle East, Africa and the world average rate of 8.6 percent, as wealth grew 8.2 percent in Latin America. And these three regions accounted for a combined 24.4 percent of global wealth in 2010, compared to 20.9 percent in 2008 .
June 7,2011
Affect the overall continued weakness of the dollar against other currencies, in assessing the wealth of rich families in the world at large, and the Arab region in particular. And grow the wealth of Arab families are usually with high oil prices and the accumulation of financial surpluses that result from that, and encourages Governments to expansion in spending on vital projects in the sectors of infrastructure, which will reflect positively on economic growth in Arab countries, especially the ones of the Petroleum Exporting .
But the weakness of the dollar, the currency adopted by many families in the region to evaluate their assets Cash and cash equivalents, in addition to the dangers of low-evaluation of assets, you may pay wealthy families to search for assets is more stable in terms of pricing and more flexibility in the face of the challenges associated with weak currencies and investment problems in general, according to the weekly report for «Mazaya Holding». He highlighted the targeted assets, according to the report, real estate, especially those producing income, after the sector recorded growth rates evident in the global markets in the Gulf markets .
The report was issued in light of the dollar’s decline to its lowest level in a month against a basket of currencies after the U.S. data negative stoked fears of slowing economic recovery, and resulted in proceeds of U.S. Treasury bonds decimal to register the lowest level in six months below three percent, of what kind of pressure on the dollar . In contrast, the euro rose after it cut its « Moody »credit rating of Greece. The announcement by the United States plan for quantitative easing (monetary recovery) is the first and the second in recent months, a series of developments led to the so-called war of currencies, Valtiser quantitative monetary policy used by some central banks to increase the supply of cash to increase reserves for the banking system .
An earlier report for «benefits» pointed out that the weakness in the dollar against other currencies, will re-raising of the issue of re-evaluating currencies. Observers expect that the Gulf currencies, at the top of the currencies in emerging markets, which re-evaluate dollar peg, especially the UAE dirham and the Saudi riyal, the aim of preventing the negative impact of inflation on local economies. The report also pointed to the new «benefits» to a concentration of wealthy Arab families in the Gulf states, especially Saudi Arabia and the UAE, which enhances the overall orientation of the rich Arab families to protect their assets from the decline in value and inflation risks associated with high oil prices and increased production .
The «benefits» to Arab families in the event did not announce the monetary authorities in the Gulf of re-evaluating Gulf currencies pegged to the dollar, will try to deal alone with the expected weakening of the dollar in the coming months, under the studied «Organization of Petroleum Exporting Countries» (OPEC) raised its production for the first time since 2007, that may lower oil prices, which hovered around $ 100 .
A report by a specialist that Saudi Arabia topped the list of first ten countries in the world in the degree of concentration of super-rich families, and seized each of Kuwait, Qatar and the UAE have signed from this list. He noted the annual report prepared by the «Boston Consulting Group » about the world’s wealth, for there are 18 family super-rich out of 100 thousand wealthy family in Saudi Arabia, followed by Switzerland at 10 out of 100 thousand, noting that the value of assets under management rose by 8.6 percent in Middle East and Africa to achieve a record high of U.S. $ 4.5 trillion in 2010, expected to rise to 6.7 trillion dollars in 2015. Came Hong Kong in third place (nine families), followed by Kuwait (eight families) and Austria (eight families ) and Norway (seven families) and Qatar (six families) and Denmark (five families) and Singapore (five families) and the UAE (five families).
The report noted that net worth does not reflect the risk appetite among investors in the region are still weak, compared to a phase that preceded the financial recession, adding that the investment of the wealthy in the GCC countries of the assets in the products of cash and semi-cash, is still high, which is affected by fluctuations and a weakening dollar .
According to the report itself, the world’s wealth continued recovering steadily in 2010, driven by growth in all areas in almost every economic, and increased nine trillion dollars, or eight percent, reaching a record high of $ 121.8 trillion dollars, more than about $ 20 trillion, compared to 2009, when financial crisis was at its peak .
The report places North America at the forefront of the absolute increase market wealth in assets under management, which amounted to $ 3.6 trillion, and ranked second in terms of growth rate of 10.2 percent, with assets under management 38.2 trillion dollars, making it the richest region in the world by acquiring a third of global wealth almost. In Europe, the wealth grew by 4.8 percent, a percentage less than the global average, however the region has gained an increase of $ 1.7 trillion of wealth managed growth slowed with the strength of the euro against the dollar .
The fastest growth of wealth was in the Asia-Pacific (excluding Japan) , a rate of 17.1 percent, while the ES growth in the Middle East, Africa and the world average rate of 8.6 percent, as wealth grew 8.2 percent in Latin America. And these three regions accounted for a combined 24.4 percent of global wealth in 2010, compared to 20.9 percent in 2008 .