UK anti-corruption drive holds threats for Gulf investors

Wealthy investors would be well advised to take note of the growing use of unexplained wealth orders (UWOs) by the UK’s National Crime Agency (NCA). UWOs are a power given to the NCA and a number of other bodies in January 2018, via the Criminal Finances Act 2017. London property, a favoured asset class for many Gulf nationals, is proving to be the main target of the orders so far.On 29 May, the NCA revealed it had secured High Court approval for a second tranche of UWOs, enabling it to seize £80m ($101.5m)-worth of residential properties in London held by unnamed politically exposed persons (PEPs) via offshore companies. 6th June, Issue 1082. Read more

Bahrain's Economic Performance

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Gulf boundaries and hydrocarbons infrastructure

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The Gulf region: economy and society

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Iraqi Kurdistan hydrocarbons infrastructure map

Revised in January 2015, this map provides a detailed overview of hydrocarbons infrastructure in the Kurdistan area of Iraq.

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Kuwait struggles to adjust to impact of Covid-19 and low oil

The impact of the Covid-19 pandemic continues to override all other issues in Kuwait. While the initial response to the...

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GCC’s coronavirus and other crises offer an opportunity for Iran

The Gulf Co-operation Council states are in a more delicate and divided condition than they have been for decades – a set...

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Coronavirus and oil crisis present MBS with unprecedented tests

Crown Prince Mohammed Bin Salman (MBS) has worked hard to remove any possibility of political opposition emerging from within Al-Saud ranks over the past five years. This campaign has involved several bouts of locking up senior family members, with the clear backing of his father King Salman, most notably in November 2017 but most recently in March when Princes Ahmed Bin Abdelaziz and Mohammed Bin Nayef were moved from house arrest to prison.

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