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▼ Japan’s Banks Pull Staff From Middle East After U.S. Strikes Iran
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Japan’s biggest banks are considering evacuating employees and their families from financial hubs in the Middle East, just days after U.S. airstrikes on Iran increased risks in the region.
Mitsubishi UFJ Financial Group has started to pull the families of staff out of locations including Dubai, and will consider evacuating workers if they need to accompany them, a spokesperson said Monday. Japan's biggest bank has also halted unnecessary travel in and out of the region, it said.
After the United States on Saturday launched attacks on nuclear facilities in Iran, Japanese companies are rushing to protect their employees and brace local operations for the fallout from any potential retaliation by the Islamic Republic.
Mizuho Financial Group said it urged employees in the region to exercise caution, and has started to coordinate individual evacuations. Sumitomo Mitsui Financial Group is looking to bring its staff from locations including Qatar and the United Arab Emirates back to Japan.
In the UAE, the twin hubs of Dubai and Abu Dhabi have lured banks and hedge funds as traders embrace zero income taxes, a time zone conducive to working with both East and West and a lifestyle tailor-made for the rich.
Saudi Arabia and Qatar, meanwhile, have also been attracting financial firms in an attempt to diversify away from oil.
MS&AD Insurance Group also said it’s looking to temporarily recall employees in both UAE cities back to Japan.
Trading company Marubeni said it has suspended business trips to the Middle East and began evacuating family members of employees in certain countries.
Japan Airlines plans to reroute direct flights between Tokyo’s Haneda Airport and Doha Airport to avoid airspace above the Persian Gulf and the Gulf of Oman, which adds about 20 minutes of flight time, a spokesperson said Monday.
Mitsubishi UFJ Financial Group has started to pull the families of staff out of locations including Dubai, and will consider evacuating workers if they need to accompany them, a spokesperson said Monday. Japan's biggest bank has also halted unnecessary travel in and out of the region, it said.
After the United States on Saturday launched attacks on nuclear facilities in Iran, Japanese companies are rushing to protect their employees and brace local operations for the fallout from any potential retaliation by the Islamic Republic.
Mizuho Financial Group said it urged employees in the region to exercise caution, and has started to coordinate individual evacuations. Sumitomo Mitsui Financial Group is looking to bring its staff from locations including Qatar and the United Arab Emirates back to Japan.
In the UAE, the twin hubs of Dubai and Abu Dhabi have lured banks and hedge funds as traders embrace zero income taxes, a time zone conducive to working with both East and West and a lifestyle tailor-made for the rich.
Saudi Arabia and Qatar, meanwhile, have also been attracting financial firms in an attempt to diversify away from oil.
MS&AD Insurance Group also said it’s looking to temporarily recall employees in both UAE cities back to Japan.
Trading company Marubeni said it has suspended business trips to the Middle East and began evacuating family members of employees in certain countries.
Japan Airlines plans to reroute direct flights between Tokyo’s Haneda Airport and Doha Airport to avoid airspace above the Persian Gulf and the Gulf of Oman, which adds about 20 minutes of flight time, a spokesperson said Monday.
- 23/6 20:03
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