• My Profile
  • Saved articles
  • Newsletters
  • Sign out
Sign in
  • Register
  • Sign in

Podcasts Newsletters Follow us App Video
Israel-Gaza warWeekendTN Magazine
News
UAE
Gulf
MENA
US
UK
Europe
Asia
Business
Aviation
Economy
Energy
Money
Property
Banking
Markets
Opinion
Comment
Editorial
Obituaries
Cartoon
Feedback
Future
Science
Space
Technology
Climate
Environment
Road to Net Zero
Health
Culture
Art & Design
Books
Film & TV
Music & On-stage
Pop Culture
Lifestyle
Travel
Fashion & Beauty
Food
Motoring
Luxury
Home & Garden
Wellbeing
Things to do
Sport
Football
Cricket
F1
Tennis
Combat Sports
Cycling
News
UAE
Gulf
MENA
US
UK
Europe
Asia
Business
Aviation
Economy
Energy
Money
Property
Banking
Markets
Opinion
Comment
Editorial
Obituaries
Cartoon
Feedback
Future
Science
Space
Technology
Climate
Environment
Road to Net Zero
Health
Culture
Art & Design
Books
Film & TV
Music & On-stage
Pop Culture
Lifestyle
Travel
Fashion & Beauty
Food
Motoring
Luxury
Home & Garden
Wellbeing
Things to do
Sport
Football
Cricket
F1
Tennis
Combat Sports
Cycling

Rebuilding Lebanon after Israel's war: The vast costs and vexing political challenges

More on Quran memorisation:

How Quran memorisation helps 'train the brain'

Teenage girls recite the Quran flawlessly, despite speaking no Arabic

The specs

Engine: 5.2-litre twin-turbo V12

Transmission: eight-speed automatic

Power: 715bhp

Torque: 900Nm

Price: Dh1,289,376

On sale: now

Timeline

2012-2015

The company offers payments/bribes to win key contracts in the Middle East

May 2017

The UK SFO officially opens investigation into Petrofac’s use of agents, corruption, and potential bribery to secure contracts

September 2021

Petrofac pleads guilty to seven counts of failing to prevent bribery under the UK Bribery Act

October 2021

Court fines Petrofac £77 million for bribery. Former executive receives a two-year suspended sentence 

December 2024

Petrofac enters into comprehensive restructuring to strengthen the financial position of the group

May 2025

The High Court of England and Wales approves the company’s restructuring plan

July 2025

The Court of Appeal issues a judgment challenging parts of the restructuring plan

August 2025

Petrofac issues a business update to execute the restructuring and confirms it will appeal the Court of Appeal decision

October 2025

Petrofac loses a major TenneT offshore wind contract worth €13 billion. Holding company files for administration in the UK. Petrofac delisted from the London Stock Exchange

November 2025

180 Petrofac employees laid off in the UAE

Company%20profile
%3Cp%3E%3Cstrong%3ECompany%20name%3A%20%3C%2Fstrong%3EHakbah%0D%3Cbr%3E%3Cstrong%3EStarted%3A%20%3C%2Fstrong%3E2018%0D%3Cbr%3E%3Cstrong%3EFounder%3A%20%3C%2Fstrong%3ENaif%20AbuSaida%0D%3Cbr%3E%3Cstrong%3EBased%3A%20%3C%2Fstrong%3ESaudi%20Arabia%0D%3Cbr%3E%3Cstrong%3ESector%3A%20%3C%2Fstrong%3EFinTech%0D%3Cbr%3E%3Cstrong%3ECurrent%20number%20of%20staff%3A%20%3C%2Fstrong%3E22%20%0D%3Cbr%3E%3Cstrong%3EInitial%20investment%3A%20%3C%2Fstrong%3E%24200%2C000%0D%3Cbr%3E%3Cstrong%3EInvestment%20stage%3A%20%3C%2Fstrong%3Epre-Series%20A%0D%3Cbr%3E%3Cstrong%3EInvestors%3A%20%3C%2Fstrong%3EGlobal%20Ventures%20and%20Aditum%20Investment%20Management%0D%3Cbr%3E%3Cbr%3E%3C%2Fp%3E%0A
MORE ON LOCUSTS

Editorial: In the eye of the swarm

Environment: Locust vs drone: how the UN is trying new weapons against the plague

Taylor Heyman: Locusts on the agenda at Riyadh International Humanitarian forum

Auron Mein Kahan Dum Tha

Starring: Ajay Devgn, Tabu, Shantanu Maheshwari, Jimmy Shergill, Saiee Manjrekar

Director: Neeraj Pandey

Rating: 2.5/5

Updated: June 02, 2025, 5:23 AM
IPSO regulated

News
UAE
Gulf
MENA
US
UK
Europe
Asia
Business
Aviation
Economy
Energy
Money
Property
Banking
Markets
Opinion
Comment
Editorial
Obituaries
Cartoon
Feedback
Future
Science
Space
Technology
Climate
Environment
Road to Net Zero
Health
Culture
Art & Design
Books
Film & TV
Music & On-stage
Pop Culture
Lifestyle
Travel
Fashion & Beauty
Food
Motoring
Luxury
Home & Garden
Wellbeing
Things to do
Sport
Football
Cricket
Olympics
F1
Tennis
Combat Sports
Cycling
Weekend
Living in the UAE
TN Magazine
Podcasts Newsletters Read E-Paper Print Subscriptions Video App
About UsContact UsWork With UsAdvertise With UsTerms & ConditionsPrivacy PolicyCookie PolicySitemapArchiveRegistration FAQsRosalynn Carter Fellowship
IPSO regulated
Follow us
Get news alerts from
The National logo
You can manage notifications at any time by clicking the notifications icon.