04/24/2012
The new office will focus on finance, litigation and corporate work, in particular in the energy sector. London commercial litigation partner Rovine Chandrasekera is set to relocate to Dubai to head up the office when a licence is granted.
04/19/2012
The City firm has announced nine new partners in London in addition to one in Abu Dhabi and one in Singapore.
04/18/2012
A decision to annul the withholding tax on the trading of investment funds -- more than 75 percent of which comprise equities -- was announced by Deputy Prime Minister Ali Babacan, who oversees the Turkish government's economic policies as the head o
04/16/2012
Among Israel's financial institutions, Hapoalim suffered the worst losses in the subprime crisis due to its investments in mortgage-backed securities.
04/05/2012
Of the total sum, creditors have agreed that around US$2.15bn of the debt will be extended for five years, while they will also receive a two percent cash interest coupon on the new facility.
04/05/2012
They are suing for "more than $10 million" as a result of the alleged manipulation of shares in Bill Express, the electronic pre-paid bill payment company that went under in 2008 with debts of more than $200m.
04/02/2012
The DFSA announces the delisting of DIB Sukuk Company Limited (DIB) from the Official List of Securities following the announcement by DIB that it has repaid in full a USD 750 million five-year Sukuk, which matured on 22 March 2012.
03/30/2012
Allen & Overy today announces 23 promotions to partner across 14 offices in 12 countries. Nearly 40% of new partners are female and, for the fifth year running, the majority (73%) are based outside London, underlining Allen & Overy's commitme
03/28/2012
H.E. Hamood Sangour al Zadjali, Executive President of the Central Bank of Oman, revealed to the Oman-based newspaper Muscat Daily that the first draft of Islamic banking rules is almost ready and it is being updated with comments from local banks.
03/27/2012
Despite rising prices and volumes this year, the three markets in Dubai and Abu Dhabi have underperformed most global indicators since 2008.
03/26/2012
Dubai officials said on Saturday it will implement a new company licence initiative by the end of 2012 aimed at improving the process of doing business in the emirate.
03/22/2012
All banking executives sitting on the boards of directors of the UAE’s top banks are to face more scrutiny and will undergo a 'fitness test' to assess their expertise, the UAE central bank governor announced on Tuesday.
03/21/2012
While concerns about further economic uncertainty continue to be top of mind for business leaders, issues such as fraud and ethics, mergers and acquisitions, large programs, new product introductions, and business continuity were identified among the top
03/21/2012
Claims are pending against Hapoalim and its board over the Pozitif transaction, based in part on Dankner's failure to disclose his personal interest in the deal, which, in a court statement, Ziv said he knew nothing about.
03/21/2012
Energy specialist Cavet joined legacy firm Denton Wilde Sapte from Simmons & Simmons in the summer of 2010 and will relocate to Kuwait to take on the leadership role.
03/20/2012
The move came as the credit rating agency Moody's Investors Service warned of a funding crisis brewing in the Gulf.
03/19/2012
SJ Berwin’s senior partner-elect is putting international expansion at the centre of his strategy, with a US merger a “work in progress” and a Singapore launch and expansion in Dubai firmly on the agenda.
03/14/2012
Supervisor of Banks David Zaken fined Bank Hapoalim for overcharging customers who closed their accounts.
03/06/2012
The FATCA Seminar was tailored to address the unique needs of Middle Eastern institutions, including Islamic banking and takaful insurance structures as well as sovereign wealth funds, and family offices.
03/06/2012
Fierce competition, lack of regulation, low profitability and underwriting losses also cause decline in customer service, which later might trigger mistrust in the insurance sector among the public.