As the number of wealthy families has grown worldwide, the number of Single Family Offices (SFOs) has also increased, from an estimated 6000-7000 worldwide just five years ago to around 10,000-15,000 today. Creating a bespoke entity to manage the complex, unique needs of a multi-generational household makes sense from many perspectives, and not just financially.
Dubai-based legal firm Habib Al Mulla and Partners will open an office in Moscow as the firm seeks to serve UAE investors in Russia. The firm, which said it is the first UAE legal firm in Russia, plans to service Emirati businesses and investments venturing into the Russian market and beyond. The new office in
China’s flagship economic cooperation programme is bouncing back after a lull during the global pandemic, with Africa a primary focus, according to lending, investment and trade data. Chinese leaders have been citing the billions of dollars committed to new construction projects and record two-way trade as evidence of their commitment to assist with the continent’s
Leading UAE-based smart and green facilities management (FM) company Farnek, has received an award from Neutral Fuels for a significant reduction in the amount of carbon emissions generated by its transport fleet. Farnek made a commitment to transition to Neutral Fuels’ B7 blend biodiesel in 2023 and consumed more than 400,000 litres of B7 biodiesel
Qatar Airways will soon announce an investment in an airline in southern Africa, its CEO said, part of the Gulf carrier’s drive to expand its network in Africa. “We are at the final stage of an equity investment in an airline in the southern part of Africa,” Badr Mohammed Al Meer said on a panel
Aircraft delivery delays from Boeing are “extremely annoying” and cost Lufthansa lots of money, but the USA planemaker should be able to resolve its problems, the German airline’s CEO said in a newspaper interview. Lufthansa CEO Carsten Spohr was direct when asked by Switzerland’s Neue Zuercher Zeitung how badly recent setbacks at Boeing and subsequent
Australia’s Qantas Airways agreed to pay A$120 million ($79 million) to settle a regulator lawsuit over the sale of thousands of tickets on already cancelled flights, in an attempt to end a reputational crisis that has engulfed the airline. The company will split A$20 million between more than 86,000 customers who booked tickets on the
Moglix, a global leader in the B2B e-commerce and procurement sector, is spearheading digital transformation in the Middle East and GCC region by accelerating procurement and supply chain efficiency through its tech-first approach. Moglix’s offerings drive efficiency in procurement management, as well as enabling cost reduction and seamless supply chain operations for the manufacturing sector.
The International Air Transport Association (IATA) has expressed concerns that Pakistan and Bangladesh have held up airline revenues worth up to $720 million, calling on both countries to release funds into carriers’ coffers, noting that airlines already operate on thin margins. According to IATA, the situation has become severesince airlines cannot collect over $720 million
Global air cargo rates continued to rise throughout March, thanks to strong demand and rising rates from Asia and Middle East origins, taking average prices to within -7% of their elevated levels this time last year and recovering to their levels during last year’s winter peak season, according to latest weekly figures from WorldACD Market
