Nomura Cuts Dubai Banking Jobs in Mideast Coverage Shift

(Bloomberg) —



a large tall tower with a clock on the side of a building: The Nomura Holdings Inc. logo is displayed outside a Nomura Securities Co. branch in Tokyo, Japan.


© Photographer: TORU HANAI
The Nomura Holdings Inc. logo is displayed outside a Nomura Securities Co. branch in Tokyo, Japan.

Nomura Holdings Inc. eliminated about a half dozen investment banking jobs in Dubai, as Japan’s biggest brokerage shrinks its Middle East footprint and moves coverage of the region to staff in other offices.

Loading...

Load Error

The Tokyo-based firm made the cuts in recent weeks, and will now serve Middle Eastern clients from cities where it has bigger operations, such as London, people with knowledge of the matter said. Its asset management and global markets divisions will keep their on-the-ground presence, the people said, asking not to be identified because the information is private.

Nomura has been overhauling its global wholesale business since April last year in a bid to save $1 billion in costs and sustain profitability abroad. New Chief Executive Officer Kentaro Okuda has persisted with those

Read More

This Dubai salon is offering free haircuts to mums who’ve lost jobs due to the pandemic

Women have been disproportionately affected by job losses during the coronavirus pandemic, according to figures reported by the Washington Post, and the domestic burden has also hit women hardest, with global figures showing that mothers are more likely to take on the lion’s share of home schooling and childcare while working from home.

“The pandemic has created some very specific challenges that might otherwise not be present for women,” says Dr Rose Logan, clinical psychologist at The LightHouse Arabia.

Dr Logan has been running an online support groups for pregnant women and mothers and she says they have all been characterised by a theme of loss – whether it’s job loss, or loss of other choices and opportunities in their lives. “I think for some women this has precipitated or worsened mental health concerns. I would say loss is almost the overarching theme.”

Against this bleak backdrop, businesses in the

Read More

Israel and the UAE: My first phone call to Dubai

I hit the cellphone buttons and call Dubai.There’s a flashback to my student days at the Hebrew University when I needed a reservation at the Central Post Office on Jaffa Road to call home to my family in Connecticut, sitting in a booth, waiting for an operator to connect us. We used blue aerograms for most communication.Now I’m reaching out to the United Arab Emirates. It’s free. I’m using WhatsApp. Thank you, Jan Koum, former Russian Jew for inventing this system of international dialing and messaging.It’s not the distance, of course, that’s novel. Just last week I interviewed the founder of a Latin Klezmer Band called Kef 13,000 kilometers away in Argentina. Dubai is only 2,000 kilometers away, a short flight over Saudi Arabia. (!) I have friends who have visited the UAE for real estate investments and even shopping, using their foreign passports. Still, calling to the former Trucial
Read More