Category Archives: Dubai

Dubai's archipelago of 300 artificial ‘countries’ is back in business – video

The World, a fantasy archipelago of 300 artificial ‘countries’, is being revived in Dubai. The first version, two miles off the coast, was killed off during the global financial crisis with $60m in debts. But now the project is back and it is promising to be bigger than ever. Can it succeed?   

The long read: the return of Dubai’s ultimate folly

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Source: gad

Whistleblower suing Ernst & Young over gold dealings with Dubai firm

Sacked auditor says he was branded a troublemaker after telling bosses of his concerns about the Kaloti group

UK consultancy giant Ernst & Young has been accused of “unlawful, unprofessional and unethical” conduct over its relationship with a Dubai firm that was allegedly involved in money laundering and buying gold from conflict zones.

The claims are made in documents filed in the high court by lawyers acting for Amjad Rihan, a former partner at E&Y who exposed the alleged scandal three years ago. Rihan led a team given the job of auditing the Kaloti group, which at the time commanded half of Dubai’s gold refining market. His lawyers say that after blowing the whistle, Rihan was ordered by his employer to return to Dubai. He was dismissed when he refused.

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Source: gad