04/22/2015
Dubai to slash business fines to enhance confidence among investors
Decree issued by Shaikh Mohammed exempts businesses, whose licence expired before 2012, from the imposed fines if they apply for licence cancellation.
Legal, Tax, Regulation & Compliance
04/22/2015
Saudi family agrees terms after biggest mideast default
Ahmad Hamad Algosaibi & Brothers Co. reached a deal with leading creditors to settle $5.9 billion of debt, taking the Saudi Arabian company closer to resolving a six-year impasse after the biggest default in the Middle East.
04/22/2015
Al Gosaibis make offer to end long legal battle
The Al Gosaibi family of Saudi Arabia has offered a peace deal to Maan Al Sanea, their bitter enemy for the past six years, if negotiations can be entered to end the Middle East’s longest running corporate “frozen conflict”.
04/22/2015
Greater certainty about succession for non-Muslim residents of Dubai
One of the most popular destinations for working expatriates is the United Arab Emirates (UAE), especially Dubai, and it is estimated that in excess of 100,000 UK nationals live in the UAE.
04/22/2015
DFSA Takes Action Against Hany Lotfy Awwad Abdelwahab
Neither Mr Abdelwahab, nor any of his companies, are regulated by the DFSA
04/21/2015
Dubai World pays $2.92 billion in debt makeover deal, sources say
The payments were made late last month, said the people, asking not to be identified because the information isn’t public
04/21/2015
Clyde & Co Announces 2015 Partner Promotions
Clyde & Co is delighted to announce 24 partner promotions across its international network
04/21/2015
DFSA fine on Deutsche Bank illustrates need for balance between financial regulation and red tape
It’s a simple morality play for our times: big bad bank is caught breaking the rules; fearless watchdog steps in to impose massive fine; we all sleep easier in our beds.
04/21/2015
S&P regional boss steers agency on steady course in uncertain climate
The head of Middle East business for the ratings agency Standard & Poor’s is looking forward to a new era in the region.
04/20/2015
HSBC Said Banned From Taking on New Assets at Saudi Unit
The action by the CMA, as the Saudi Arabian regulator is known, relates to local rules and isn’t connected to other investigations the bank faces, two of the people said.
04/16/2015
Bank wins licence for branch
The Central Bank of Bahrain has granted a licence to Cairo Amman Bank, to open a branch in Bahrain.
04/15/2015
Deutsche Bank fined $8.4m by Dubai regulator
Those contraventions include misleading the DFSA, failures in DBDIFC's internal governance and systems and controls and in its client take-on and anti-money laundering processes.
04/15/2015
Kuwait deposits $2bn in Egypt's Central Bank
Suleiman added that the Kuwaiti government will invest additional $2 billion in Egypt through the state-run Kuwait Investment Authority.
04/14/2015
Prominent corporate law firm provides legal counsel to NBK
The firm advises the largest bank in Kuwait on its US$700 Million Perpetual Tier 1 Capital Securities Issuance
04/14/2015
CISI signs MoU with Egyptian capital markets regulator to enhance professionalism
The FSI is the training arm of the Egyptian Financial Supervisory Authority (EFSA) which is the regulator for the Egyptian capital markets.
04/13/2015
International law firm advises National Bank of Kuwait on US$700 million Additional Tier 1 bond issuance
We are proud of our involvement in this very significant transaction for the bank
04/13/2015
Pension, longer visa for Dubai expats proposed
Dubai Economic Council drafts policy recommendations to drive investments, sustain economic growth in the emirate
04/12/2015
Rules needed on yacht gimmicks to investors in Dubai property - Emaar chair
The property market has recovered strongly since the crash
04/12/2015
Bank of India opens DIFC branch to reach out to Middle East clients
Government to encourage public sector banks to go global
04/12/2015
Dubai International Financial Centre shares best practices and explores collaborative ties with visiting Indian government delegation
Dubai International Financial Centre today welcomed a government delegation from India led by the Minister of State for Finance Jayant Sinha.