AxiomSL opens Dubai office in Middle East expansion
AxiomSL, a firm specialising in regulatory reporting and risk management, has announced it will be opening its first Middle East office in the the Dubai International Financial Centre (DIFC).
Dubai
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Bank of Singapore to open financial advice unit in Dubai
A subsidiary of one of Singapore’s largest banks, OCBC Bank, has confirmed it will offer financial advice to wealthy individuals in the Middle East when it opens a new office in Dubai next year.
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Man Group closes Dubai office, to serve Middle East from UK
Man Group, the world’s biggest listed hedge fund, plans to close its office in the Dubai International Financial Centre and service its Middle East clients from London.
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Forth Capital’s Tracy on why it was time to leave Dubai
Forth Capital founder and chief executive Tom Tracy explains the firm’s departure from Dubai and its plans to pivot towards its most profitable and new markets.
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Northstar unveils portfolios designed to meet UAE fund rules
Bermuda-based Northstar Financial Services, which recently opened an office in the Dubai International Financial Centre (DIFC), has launched a range of model portfolios specifically designed for the Middle East.
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UAE rules out imposing income tax despite budget deficit
The United Arab Emirates has ruled out the imposition of any income tax on individuals as its seeks alternative sources of revenue to counter the impact of falling oil prices on the government’s budget.
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New UAE mutual fund rules to come with a sanctions regime
New mutual fund registration rules introduced by the UAE’s Securities and Commodities Authority (SCA) in August, and currently within a six-month implementation grace period, are expected to come with a series of sanctions for breaches of the regime.
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Why advisers are shutting up shop in Dubai’s free zone
Rising rents in the Dubai International Finance Centre (DIFC) and the cost of regulatory compliance maybe to blame for the sudden spate of departures from the free zone by three financial service providers.
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US wealth manager SEI to close Dubai office
US-headquartered SEI is to close its office in the Dubai International Financial Centre next month and will service its Middle East clients from London.
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Forth Capital withdraws from UAE, to close DIFC office
Specialist expat financial advisory group Forth Capital has decided to withdraw from the United Arab Emirates (UAE) and close its business in the Dubai International Financial Centre.
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Dubai regulator fines insurer for sales outside permitted zone
The Dubai Financial Services Authority (DFSA) has cracked down on an international insurance company based in the DIFC for selling products to customers outside the centre.
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New UAE bankruptcy law to ease pressure to flee
The United Arab Emirates (UAE) is to get a new bankruptcy law for businesses, including a new regulatory body for financial restructuring, which is designed in part to remove the threat of jail for executives of companies facing financial distress.