Gulf region labelled as target for money laundering
The 2014 Basel AML Index Report revealed two ME countries as the targets for money laundering in their top 10 highest risk countries. Iran ranked 1 on the list while Iraq was placed at the 6th...
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Middle East & International News
Goldman Sachs compensates LIA for legal costs
The Libyan Investment Authority (LIA) is to be compensated for legal costs amounting to GBP 200,000 by Goldman Sachs as part of a lawsuit filed by LIA. LIA filed the case in January in London’s High...
GSK investigates into corruption charges in UAE
Global healthcare company, GlaxoSmithKline, is investigating into allegations of corruption regarding improper payments in the UAE. The allegations were sent to the top management of the company in a whistleblower’s email. The company is looking into...
Real estate investor protection and OA law amends due for approval
The Real Estate Investor Protection Law, Tanweer, has been drafted and is awaiting approval from the ruler’s court in Dubai. A version of the law was released in the media following which a lot of feedback...
Shoura Council to amend petroleum trade law
The Council of Ministers have drafted an amended law on trade in oil and petroleum products and sent it to the Shoura Council for review. The articles in the draft define commercial activities related to the...
Guernsey Finance announces new Chief Executive
Fiona Le Poidevin will be resigning to be replaced by Dominic Wheatley as Chief Executive for Guernsey Finance starting December 1, 2014. With more than 25 years of experience in UK and Guerney’s International financial markets,...
KWM drops ‘SJ Berwin’ from title
King & Wood Mallesons started its collaboration with SJ Berwin on Novermber 1, 2013 giving birth to a USD 1 billion law firm based in Asia. The title “King & Wood Mallesons SJ Berwin (KWMSJB)” was...
Bird & Bird merges with Australian firm
Bird & Bird merges with Australian TMT firm, Truman Hoyle after a year and a half of jointly providing client services. The firm has also signed non-exclusive alliances with South Korean firm Hwang Mok , Jakarta-based...
Law Firm Highlights
An expert guide on “Doing Business in Dubai” was produced by Al Tamini & Company, in collaboration with Emirates, as part of their larger “Doing Business in Dubai” series. With Dubai’s economy expected to increase...
Hollywood calling for Snowden’s lawyer
Edward Snowden’s lawyer, Anatoly Kucherena, has reportedly sold the rights for his novel “Time of the Octopus” to Oscar winning Hollywood director Oliver Stone. Stone is set to make a political thriller movie, with producer Moritz...
