trending Market Intelligence /marketintelligence/en/news-insights/trending/XLPwM9OH_b7-ZjBFctaF1w2 content
Log in to other products

Login to Market Intelligence Platform

 /


Looking for more?

Contact Us

Request a Demo

You're one step closer to unlocking our suite of comprehensive and robust tools.

Fill out the form so we can connect you to the right person.

If your company has a current subscription with S&P Global Market Intelligence, you can register as a new user for access to the platform(s) covered by your license at Market Intelligence platform or S&P Capital IQ.

  • First Name*
  • Last Name*
  • Business Email *
  • Phone *
  • Company Name *
  • City *
  • We generated a verification code for you

  • Enter verification Code here*

* Required

In This List

Report: UAE court sentences Abraaj founder in absentia

Street Talk Episode 56 - Latest bank MOE shows even the strong need scale to thrive

South State CenterState MOE Shows Even The Strong Need Scale To Thrive

Talking Bank Stocks, Playing The M&A Trade With Longtime Investor

Report: Kashkari Says Fed In Holding Pattern But Rate Cut Still Possible


Report: UAE court sentences Abraaj founder in absentia

The founder of collapsed Dubai-based private equity firm The Abraaj Group was sentenced in absentia to a three-year prison term by a United Arab Emirates court for a case tied to low-cost airline Air Arabia PJSC, Bloomberg News reported, citing people familiar with the matter.

With Arif Naqvi awaiting trial in London over his possible extradition to the U.S., it remains unclear whether he will serve the sentence, according to the report.

Abraaj borrowed money from the carrier, at which Naqvi is a board member, to cover shortfalls in one of its funds and mislead investors, the report noted, citing U.S. prosecutors.

A legal representative for Naqvi did not comment on the matter, while Air Arabia representatives were not available to comment. The court in Sharjah, where the case is filed, did not answer calls from Bloomberg.