New Abu Dhabi metal park breaks ground

The integrated Metal Park, which will cover an area of 450,000 square metres, has broken ground at the Khalifa Economic Zones Abu Dhabi (KEZAD), which is part of AD Ports Group. The facility is close …

Sanctions forcing Russia’s Sberbank to close UAE office, company says

Russia’s dominant lender Sberbank will be forced to close its office in the United Arab Emirates (UAE) early next year, First Deputy Chairman Vedyakhin said on Monday, blaming sanctions pressure. Sweeping Western sanctions targeted Russia’s financial system after Moscow sent tens of thousands of troops into Ukraine on Feb.

Sanctions force Russia’s Sberbank to close UAE office, company says

Sweeping Western sanctions targeted Russia’s financial system after Moscow sent tens of thousands of troops into Ukraine on Feb 24. Sberbank is one of several major Russian banks to have been blocked from the international SWIFT payments system and some senior executives have been personally hit by sanctions.