European aerospace and defence group EADS, facing a UK Serious Fraud Office (SFO) investigation into alleged corruption in Saudi Arabia, has ordered an external review of its compliance policies, saying it expected results by February 2013 and...
There has been considerable confusion over whether Iraq is preparing to buy billions of dollars worth of fighter jets, helicopters and other weapons from Russia. On 10 November, Iraqi Prime Minister Nouri Al-Maliki said that Baghdad had cancelled...
Central Bank of Iraq (CBI) governor Sinan Al-Shabibi was suspended on 16 October, and three days later was facing arrest. Warrants for Shabibi and more than a dozen other officials were issued after a probe by the anti-corruption Integrity...
The Gulf of Aden Ports Corporation plans to cancel its contract with Dubai state-owned ports operator DP World and is seeking talks to avoid going to international arbitration, according to Reuters and Yemeni media.
Two thirds of business executives in the Middle East believe corruption is widespread, with backhanders, facilitation payments and bribes often used to win contracts, according to an April report by Ernst & Young, the Middle East Fraud,...
UK-based metals magnate Victor Dahdaleh and former Aluminium Bahrain (Alba) chief executive Bruce Hall, charged in connection with an alleged scam to defraud Alba, appeared in court in London on 2 March for a procedural hearing.
Moves by JMP members to renegotiate an Aden port deal with Dubai giant DP World could herald further investigations into deals made by outgoing president Ali Abdullah Saleh.
Zambia’s new government plans to capitalise on its B+ credit rating by issuing a $500m ten-year sovereign bond next year. Presenting the 2012 budget to parliament, finance minister Alexander Chikwanda said the rating from Standard & Poor’s...
It is not just Russian billionaires who have been fighting their business battles in UK courts. Saudi magnate Sheikh Mohammed Bin Issa Al-Jaber (MBI) has failed to get success in the latest round of his High Court battle with South Africa’s...
The National Assembly on 29 June passed the 2011/12 budget, outlining spending of KD19.4bn ($67.7bn), an 11.1% increase on last year. There have been limited protests, but continued demands for the removal of the prime minister and better health...
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