DIFC-based Bank Sarasin-Alpen has lost a significant case against a wealthy Kuwaiti family, after it was found to have mis-sold investments worth $200m during the 2007/2008 financial crisis, with its CEO singled out for particular criticism.
Standard Chartered may face legal action in the United Arab Emirates after the New York Department of Financial Services reached an agreement with the bank on Tuesday for it to exit “high-risk client relationships” within certain business lines in its UAE branches.
Friends Provident International has launched a new website with a section dedicated to non-resident Indians.
The chief executive of the Dubai International Financial Centre Authority has resigned.
The former managing director of Leeds United currently jailed in Dubai has had his assets frozen by a UK high court judge.
The Dubai Chamber of commerce membership registered a 24.3% increase in the first six months of 2014 compared to the same period last year.
Hansard Internationals United Arab Emirates country manager Stephen Fairhall has left the company.
Mark Watts, the managing director and chief financial officer of the asset management division of the National Bank of Abu Dhabi has stepped down.
Saudi Arabia is to open its stock market to direct investment by foreign financial institutions (FFIs) in the first half of next year, giving them access to its $530bn bourse.
The chairman of the Qatar Investment Fund has said the country’s appetite for growth will continue “unabated”, even if its bid to host the 2022 World Cup is withdrawn following recent allegations of bribery and corruption.
HSBC is to close its representative office in the Libyan capital of Tripoli, according to the Telegraph.
The detained ex-managing director of Leeds United football club has threatened to reveal “damaging allegations” about his former employer from his Dubai jail cell.
