24-06-2013, 09:37 AM
"Guanxi" (social networks and influential relationships that facilitate business dealings) is not ONLY in China. It is also common in Gulf...
, probably the only exception is Singapore.
Kuwait sheikh sues UBS for S$27.3m
DUBAI — A Kuwaiti sheikh is suing UBS for US$21.4 million (S$27.3 million), alleging the Swiss bank failed to pay him for helping it become lead arranger on a US$9 billion asset sale by the Kuwaiti telecommunications operator Zain, a Dubai court heard yesterday.
The case highlights the complexity of doing business in the Gulf, where personal connections to high-ranking officials or executives are often valued in deal-making.
http://www.todayonline.com/business/kuwa...-ubs-s273m
, probably the only exception is Singapore.Kuwait sheikh sues UBS for S$27.3m
DUBAI — A Kuwaiti sheikh is suing UBS for US$21.4 million (S$27.3 million), alleging the Swiss bank failed to pay him for helping it become lead arranger on a US$9 billion asset sale by the Kuwaiti telecommunications operator Zain, a Dubai court heard yesterday.
The case highlights the complexity of doing business in the Gulf, where personal connections to high-ranking officials or executives are often valued in deal-making.
http://www.todayonline.com/business/kuwa...-ubs-s273m