We have a mixed bag of business stories leading the conversation on the UAE in the international press this morning, although none of the three is dominating coverage.

Saudi fund to sell off Emirati energy holding company: Fujairah-based Brooge Petroleum and Gas Investment Company (BPGIC Holdings), holding company of Nasdaq-listed Brooge Energy, is being liquidated by a Saudi Arabia-backed investment fund over trouble with its financial statements and unpaid debt, the Financial Times reports. The liquidation comes after the US Securities and Exchange Commission (SEC) handed Brooge Energy a USD 5 mn fine to settle charges of committing fraud by providing auditors with false financial filings about its revenue, according to an SEC statement.

KPMG Dubai partners are throwing allegations of bias and lack of transparency at Freshfields after Freshfields published a review detailing alleged misconduct at the global advisory network’s office in Dubai.KPMG board members accused the multinational law firm of being biased and failing to keep them informed during its investigation while omitting disclosure of Freshfields’ recommendations, according to the Financial Times.

Tags: