Herbert Smith Freehills has closed its Abu Dhabi office, according to reports, and will move its five-lawyer team there to Dubai. It currently has two partners in Doha and eight in Dubai.
It joins a growing band of law firms that are closing their offices in the emirate. Last year, Holland & Knight closed its sole Gulf office in Abu Dhabi, and in March this year, Latham & Watkins closed its outposts in both Doha and Abu Dhabi. In May, Baker Botts also closed its office in Abu Dhabi.
Sidley Austin has advised Malaysia’s Axiata Group on its Indonesian subsidiary’s acquisition of Axis Telekom Indonesia from Saudi Telecom Company (STC), which was guided by Freshfields.
Papua New Guinea energy company Oil Search Ltd launched a fight on Friday to contest French oil giant Total SA's purchase of a 40 percent stake in PNG's biggest undeveloped gas field.
Oman's central bank has set new caps on banks' credit exposure to non-residents and funds placed abroad, giving lenders six months to comply.