Dubai Multi Commodities Centre, a branch of the government-controlled group Dubai World, is investing a whopping $250 million in five U.S. Hedge-fund managers. The five hedge funds will conduct business in accord with shariah, or Islamic law, which will greatly affect their financial strategies. More >>

Dubai Multi Commodities Centre, a branch of the government-controlled group Dubai World, is investing a whopping $250 million in five U.S. Hedge-fund managers. The five hedge funds will conduct business in accord with shariah, or Islamic law, which will greatly affect their financial strategies. For example, they will not be allowed to invest in alcohol-related companies, nor will they be able to sell what they do not own, which eliminates short selling from the equation. The five hedge-fund managers include: Tocqueville Asset Management, BlackRock Inc., Zweig-DiMenna International Managers, Ospraie Management, and Lucas Capital Management.

Source: www.online.wsj.com

Latham & Watkins plans to open three offices in the Middle East in March of this year, holding the distinction of the first law firm to do so. Last week Latham hired corporate partner Rindala Beydoun to head the three offices in Abu Dhabi, Dubai and Qatar in March. Three Latham partners and about 12 associates will also transfer to the Middle East later this year. The firm is also “actively recruiting from the market at the moment,”Beydoun says.
Source: thelawyer.com

Top law firms Latham & Watkins and Freshfields Bruckhaus Deringer are set to embark on initiatives to gain footing in the Middle Eastern market. Latham has hired partners from Vinson & Elkins to launch their Dubai branch, while Freshfields has relocated many of its London associates to its existing offices in the area. Allen & Overy and Clifford Chance are among the premier firms with UAE branches, solidifying a trend in efforts to capture lucrative clients in the Middle East.
Source: www.legalweek.com

Akin Gump Straus Hauer and Feld is having some trouble in Dubai. Recently Dewey & LeBoeuf recently raided the firm’s regional office, nabbing both partners, Gavin Watson and Chris Sioufi. Dewey & LeBeouf representatives said that they are aiming to attract 12-18 attorneys to their Dubai office, and that this move was the first step towards that goal.
Source: www.thelawyer.com

Texas law firm Vinson & Elkins has announced that it will open an office in Abu Dhabi. Vinson & Elkins also has an office in Dubai, making it the first American firm to have offices in both Middle Eastern legal centers. London energy partner Lewis Jones will move to Abu Dhabi to head the office as an administrative partner.
Source: www.legalweek.com

Rumors are flying that Gibson Dunn will soon open an office in China. Thelawyer.com is reporting that the firm intends to follow up its new Dubai branch with a Chinese one, citing a sound-bite from a higher-up stating that the firm is “continuing to look at Asia.”
Source: www.thelawyer.com

Gibson Dunn & Crutcher has announced that they will open an office in Dubai, UAE, by the end of the year. According to representatives of the firm, this move makes sense as a solidification of their existing Middle Eastern practice. Gibson Dunn now has 14 offices, including five non-US branches.
Source: www.thelawyer.com

DLA Piper had announced that it will open offices in Abu Dhabi, the capital of the United Arab Emirates, and is considering similar moves to Qatar and India. This is the firm’s second office in the UAE–it is already set up in Dubai–and they feel this expansion is warranted due to the booming real estate industry in the region. DLA Piper is not alone in its expansion in the Middle east; Charbourne & Parke opened a Dubai branch earlier this year, and Baker & McKenzie has offices in Riyadh, Saudi Arabia and Bahrain.
Source: www.nylawyer.com

Bracewell & Giuliani has opened an office in Dubai, United Arab Emirates. Partner David Stockwell will head the new office; he is a 25-year resident and legal practioner, as well as a former senior U.S. diplomat in residence there. The Dubai office will advise clients on doing business in Dubai, local labor law, commercial and corporate law, arbitration, licensing, litigation, energy, and environmental matters in the Arabian Gulf region.
Source: www.metrocorpcounsel.com