A new Saudi Arabian scheme to boost employment of Saudi nationals by fining companies that draw more than half their staff from expatriate circles has caused controversy and debate in the six days since it came into force.
Last week International Adviser held its fourth Gulf Expert Investor Forum in Dubai.
Barclays bank, which is already facing a series of allegations, is reportedly under investigation by the US Department of Justice over claims it made improper payments to win a licence in Saudi Arabia.
Egyptian investment bank EFG Hermes plans to grow its asset management arm by 50% after the completion of its joint venture with Qatar's QInvest.
Today’s election victory for US Presidential incumbent Barack Obama is likely to mean greater financial stability for the MENA region in the short and long term, according to HSBC Global Asset Management’s chief business strategist Peter Marber.
The Dubai FSA is calling on member companies of the DIFC not to reward their client facing staff excessively, ahead of a planned thematic review of commission and bonus payments in the first half of next year.
Standard Chartered is expanding its Shariah banking operations in the United Arab Emirates and Bahrain, just a few weeks after HSBC announced it would be pulling out of the region.
Qatar Holding, the new owners of Harrods Bank, are ready to “take full control of the luxury store’s private banking arm”, according to a report in London’s Daily Mail.
Credit Suisse Group and a unit of the Qatar Investment Authority (QIA), the Gulf state’s sovereign wealth fund, plan to start an asset-management joint venture, Bloomberg reported.
A thematic review undertaken by the Dubai FSA into client take-on processes and suitability, has revealed a number of issues but the regulator said its findings were largely positive.
Concerns over fund registration and minimum investment rules within proposed new regulations from the Emirates Securities and Commodities Authority, mean many within the industry are less than favourable about the new regulations, according to a recent survey.
Neuberger Berman has appointed a new managing director and head of its Middle East and North Africa business as it prepares to open an office in the Dubai International Finance Centre, its first in the Middle East.
