Photographer: Charles Crowell/Bloomberg

Dubai Finance Hub Defies Global Bank Cuts to Add Positions

  • HSBC among banks to relocate Mideast headquarters to DIFC
  • Many lenders have been forced to cut jobs amid low oil prices

Dubai’s International Financial Centre said the number of companies based in the hub rose 16 percent during the first half even as lower oil prices and slowing economic growth forced some banks in the United Arab Emirates to cut jobs.

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