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US crypto firm to open in Abu Dhabi

By: Pedro Goncalves | 21 Aug 2018

Seccurency, a US-based provider of financial technology products for the tokenised issuance and trading of securities, is set to open a cypto-asset business under the new Abu…

AlixPartners to oversee separation of Abraaj health fund from Abraaj Group

By: Pedro Goncalves | 20 Aug 2018

Investors in the $1bn Abraaj healthcare fund have hired global consulting firm and turnaround specialists AlixPartners to oversee the fund’s separation from the troubled Abraaj Group. The…

Saudi Arabia denies ‘rumours’ about freezing expat fees

By: Pedro Goncalves | 17 Aug 2018

Saudi’s ministry of Labour and Social Development has “categorically denied social media rumours” about plans to keep the expat fees for companies fixed at the initial level,…

Dubai regulator probes Abraaj Capital as investigation continues

By: Christopher Copper-Ind | 16 Aug 2018

Dubai’s financial services regulator has moved to bar Abraaj Capital from taking on new business or moving money to Abraaj Investment Management (AIML), its related entity, while…

Kuwait to cut 3,100 expats from public sector by March 2019

By: Pedro Goncalves | 13 Aug 2018

Kuwait’s finance ministry has asked all state departments to prepare lists that include the number of Kuwaiti employees and other sites where expatriate labor can be replaced…

Trading in Bitcoin illegal in Saudi Arabia

By: Pedro Goncalves | 13 Aug 2018

Saudi Arabia has issued a statement saying that Bitcoin and other cryptocurrencies are illegal in the kingdom, in light of a number of websites and social media…

Saudi Arabia deports over 385,000 illegal expats in nine months

By: Pedro Goncalves | 06 Aug 2018

More that 385,000 illegal expats have been deported from Saudi Arabia in the last nine months, according to statistics released by supporters of the Nation Free of…

$1.6bn Abraaj fund investors hire advisers to help recover debt

By: Pedro Goncalves | 03 Aug 2018

Investors in the $1.6bn Abraaj Group fund have hired advisory firm Alvarez & Marsal to help recover money owed by the troubled Middle Eastern private equity firm.…

Personal wealth in Saudi Arabia to hit $1.1trn by 2022

By: Pedro Goncalves | 01 Aug 2018

Private wealth in Saudi Arabia grew 3% between 2016 and 2017 and is expected to grow to $1.1 trillion in investible assets by 2022, according to a…

Credit Suisse applies for Saudi banking licence

By: Pedro Goncalves | 01 Aug 2018

Tidjane Thiam, the chief executive of Credit Suisse,  has travelled to Saudi Arabia to personally apply for a full banking licence in the kingdom. Foreign banks and…

Qatar sees 69% growth in number of registered companies

By: Pedro Goncalves | 31 Jul 2018

The Qatar Financial Centre (QFC) has reported a 69% increase in the number of companies registered under the QFC during the first half of 2018. The QFC…

Aramco flotation delayed by Saudi gov’t ‘in-fighting’

By: Christopher Copper-Ind | 26 Jul 2018

Saudi Arabia’s long-awaited public listing on a foreign stock exchange has been delayed by divisions within central government in Riyadh, according to reports. The unprecedented move, which…

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