04/27/2015
DIFC welcomes Korean law firm
The United Arab Emirates is currently home to 160 Korean companies and a 13,000-strong Korean workforce.
Legal, Tax, Regulation & Compliance
04/27/2015
Citibank Loses Key Decision in Investor Lawsuit; Court to Appoint Expert Panel
Citibank this month lost a key decision in its defense of a lawsuit in Abu Dhabi accusing the bank of self-dealing, defrauding investors, and attempting to cover-up investor losses
04/27/2015
Dentons wins TMT Legal Adviser of the Year
Dentons' Middle East TMT team was again recognized for its regional strength in the TMT sector by being named 'TMT Legal Adviser of the Year' at the TMT Finance & Investment MENA 2015 Awards
04/27/2015
UAE billionaire calls for new rules on succession for Gulf family businesses
Family businesses generate more than 80 per cent of the non-oil gross domestic product in the Gulf, according to accountancy firm PwC, a sector of the economy each nation is trying to bolster, especially in the lower oil price environment.
04/23/2015
Mashreq card holders to get discount from Gulf Air
Mashreq Qatar, a financial institution having presence across the region, recently signed a discount deal with Gulf Air, Bahrain’s National Carrier.
04/23/2015
Egypt receives $6 bln from Saudi Arabia, UAE, Kuwait - cenbanker
, Kuwait and the United Arab Emirates deposited $6 billion with Egypt's central bank
04/23/2015
Securities trading framework being upgraded in Bahrain
Key upgrades to securities trading frameworks will improve market integrity, fairness, transparency and better safeguard the interests of investors, it has emerged
04/23/2015
CMA chairman's statement on qualified foreign financial institutions
Opening the Saudi stock market for foreign investment aims at attracting specialized investors to promote institutional investments and raise the level of the research and studies on the Saudi capital market
04/23/2015
Saudi to Allow Only Large Foreign Institutions to Invest in Local Market
Middle East’s biggest economy prepares to open doors to international investors in June
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.
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.