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Monday, 7 August 2017

StanChart CEO says Gulf rift puts Dubai finance hub at risk

StanChart CEO says Gulf rift puts Dubai finance hub at risk:

"The boss of Standard Chartered (STAN.L) has warned that Dubai risks damaging its status as a financial center as a result of the trade boycott of Qatar by a Saudi-led bloc, which includes the United Arab Emirates. Standard Chartered is a major lender across the Middle East and CEO Bill Winters said it could become increasingly difficult for Dubai to act as a comprehensive regional hub for international companies' Gulf operations if the tension in the region continued. "There is a lot of benefit we get from having a Dubai hub, we are looking to see what the effect of this will be," he told Reuters."



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