— Big investors running from Dubai
By Raza Ruman
“Trump still doesn’t realise what calamity he has brought upon himself and the American soldiers by martyring our Imam, and he wants to dictate terms to a nation,” Mohammad-Bagher Ghalibaf, the speaker of Iran’s parliament, has said, Al Jazeera reports.
The US, he said, would now understand that “the fate of dear Iran, which is more precious than life, will be determined solely by the proud Iranian nation, not by Epstein’s gang.”
On the other hand, soon after the first Iranian missile and drone attacks on Dubai last week, two Indian entrepreneurs based there tried to move more than $100,000 each from their local bank accounts to Singapore to hedge risk.
Technological glitches in the aftermath of the Iranian attacks initially scuppered those plans, the entrepreneurs, who did not wish to be identified due to the sensitivity of the matter, told Reuters.
One of them said he managed to subsequently transfer the sum to his Singapore bank account via another Emirates-based bank.
Scores of other wealthy Asians are making enquiries or taking similar steps to move their Dubai-parked assets to the regional financial hubs of Singapore and Hong Kong, industry advisers and lawyers said, as the US-Israel war on Iran clouds the Gulf’s safe-haven aura and rattles investors.
