Queen Elizabeth ll and Prince Philip, Duke of Edinburgh, at Royal Ascot in 2007. Getty Images
Queen Elizabeth ll and Prince Philip, Duke of Edinburgh, at Royal Ascot in 2007. Getty Images
Queen Elizabeth ll and Prince Philip, Duke of Edinburgh, at Royal Ascot in 2007. Getty Images
Queen Elizabeth ll and Prince Philip, Duke of Edinburgh, at Royal Ascot in 2007. Getty Images

Secret hearing to keep Prince Philip's will under wraps was justified, court rules


Simon Rushton
  • English
  • Arabic

British newspaper The Guardian has lost its legal challenge against a decision banning the media from a court case about Prince Philip's will.

A hearing was held in private in September 2021 where a High Court judge ruled that the prince’s will should remain sealed for 90 years.

On Friday, appeal court judges ruled that the original decision had been correct and threw out the newspaper’s argument.

The original decision on the will was made under “exceptional” circumstances to protect the privacy of his widow, Queen Elizabeth II, and other royals.

Senior judges Geoffrey Vos and Victoria Sharp ruled that notifying the media about the hearing would have risked a publicity storm.

“The hearing was at a hugely sensitive time for the sovereign and her family, and those interests would not have been protected had protracted hearings been reported in the press,” the judges found.

  • At one year old, Prince Philip of Greece shows an interest in things floral, July 1922. Getty Images
    At one year old, Prince Philip of Greece shows an interest in things floral, July 1922. Getty Images
  • King Michael of Romania, right, rides with his cousin Prince Philip of Greece on the sands at Constanza, August 1928. Reuters
    King Michael of Romania, right, rides with his cousin Prince Philip of Greece on the sands at Constanza, August 1928. Reuters
  • Prince Philip of Greece dressed for the Gordonstoun School's production of 'MacBeth', in Scotland, July 1935. Getty Images
    Prince Philip of Greece dressed for the Gordonstoun School's production of 'MacBeth', in Scotland, July 1935. Getty Images
  • A rare picture of Prince Philip of Greece at the public school of Gordonstoun, Elgin, Scotland, December 1939. Reuters
    A rare picture of Prince Philip of Greece at the public school of Gordonstoun, Elgin, Scotland, December 1939. Reuters
  • Lieutenant Philip Mountbatten, prior to his marriage to Princess Elizabeth, working at his desk after returning to his Royal Navy duties at the Petty Officers Training Centre in Corsham, Wiltshire, August 1, 1947. Getty Images
    Lieutenant Philip Mountbatten, prior to his marriage to Princess Elizabeth, working at his desk after returning to his Royal Navy duties at the Petty Officers Training Centre in Corsham, Wiltshire, August 1, 1947. Getty Images
  • Princess Elizabeth, heiress presumptive to the throne, pictured in the White Drawing Room at Buckingham Palace with her husband to be, Lt Philip Mountbatten, and her sister Princess Margaret, September 1947. Reuters
    Princess Elizabeth, heiress presumptive to the throne, pictured in the White Drawing Room at Buckingham Palace with her husband to be, Lt Philip Mountbatten, and her sister Princess Margaret, September 1947. Reuters
  • King George VI, Princess Margaret, Lady Mary Cambridge, Princess Elizabeth, Prince Philip, Queen Elizabeth and Queen Mary on the balcony at Buckingham Palace after the wedding of Princess Elizabeth and Philip Mountbatten, London, on November 20, 1947. Getty Images
    King George VI, Princess Margaret, Lady Mary Cambridge, Princess Elizabeth, Prince Philip, Queen Elizabeth and Queen Mary on the balcony at Buckingham Palace after the wedding of Princess Elizabeth and Philip Mountbatten, London, on November 20, 1947. Getty Images
  • Undated picture showing the future Queen Elizabeth II of England and Prince Philip of Edinburgh posing with their son Prince Charles, 1949. AFP
    Undated picture showing the future Queen Elizabeth II of England and Prince Philip of Edinburgh posing with their son Prince Charles, 1949. AFP
  • His Royal Highness Prince Philip, Duke of Edinburgh, enjoys an old-fashioned hoedown held in the honour of the Royal Couple at Rideau Hall, Ottawa, Ontario, Canada, October 11, 1951. Getty Images
    His Royal Highness Prince Philip, Duke of Edinburgh, enjoys an old-fashioned hoedown held in the honour of the Royal Couple at Rideau Hall, Ottawa, Ontario, Canada, October 11, 1951. Getty Images
  • Undated picture showing the Britain's Queen Elizabeth II, and her husband Prince Philip, Duke of Edinburgh, with their two children, Charles, Prince of Wales and Princess Anne in 1952. AFP
    Undated picture showing the Britain's Queen Elizabeth II, and her husband Prince Philip, Duke of Edinburgh, with their two children, Charles, Prince of Wales and Princess Anne in 1952. AFP
  • Queen Elizabeth II and Prince Philip pose after the Queen's Coronation on June 2, 1953, at Buckingham Palace. AFP
    Queen Elizabeth II and Prince Philip pose after the Queen's Coronation on June 2, 1953, at Buckingham Palace. AFP
  • The Duke of Edinburgh disembarks from a Harvard Trainer aircraft after a flight, at RAF White Waltham, Berkshire, where he had been training for his 'wings', on May 4, 1953. Getty Images
    The Duke of Edinburgh disembarks from a Harvard Trainer aircraft after a flight, at RAF White Waltham, Berkshire, where he had been training for his 'wings', on May 4, 1953. Getty Images
  • Prince Charles of Wales with his father Prince Philip of Edinburgh aboard a boat in 1955. AFP
    Prince Charles of Wales with his father Prince Philip of Edinburgh aboard a boat in 1955. AFP
  • In February 1979, Founding Father Sheikh Zayed and President Sheikh Khalifa, then Crown Prince of Abu Dhabi, joined Queen Elizabeth ll and Prince Philip, Duke of Edinburgh, aboard the royal yacht 'Britannia' during the British royals' state visit to the UAE. Getty Images
    In February 1979, Founding Father Sheikh Zayed and President Sheikh Khalifa, then Crown Prince of Abu Dhabi, joined Queen Elizabeth ll and Prince Philip, Duke of Edinburgh, aboard the royal yacht 'Britannia' during the British royals' state visit to the UAE. Getty Images
  • Queen Elizabeth ll and Prince Philip, Duke of Edinburgh entertain Sultan Qaboos on board the royal yacht Britannia during a state visit to Oman on February 29, 1979 in Muscat, Oman. Getty Images
    Queen Elizabeth ll and Prince Philip, Duke of Edinburgh entertain Sultan Qaboos on board the royal yacht Britannia during a state visit to Oman on February 29, 1979 in Muscat, Oman. Getty Images
  • Prince Charles and Princess Diana on the balcony of Buckingham Palace on their wedding day, accompanied by Prince Philip, 29 July, 1981. Getty Images
    Prince Charles and Princess Diana on the balcony of Buckingham Palace on their wedding day, accompanied by Prince Philip, 29 July, 1981. Getty Images
  • Prime Minister Rajiv Gandhi greets the Duke of Edinburgh, Prince Philip, on November 2, 1989 in New Dehli. Gandhi, who was about to launch his campaign in the country's upcoming parliamentary elections, inaugurated an exhibition on the world's environment, at which Prince Philip was chief guest as president of the WWF. AFP
    Prime Minister Rajiv Gandhi greets the Duke of Edinburgh, Prince Philip, on November 2, 1989 in New Dehli. Gandhi, who was about to launch his campaign in the country's upcoming parliamentary elections, inaugurated an exhibition on the world's environment, at which Prince Philip was chief guest as president of the WWF. AFP
  • Prince Philip, Duke of Edinburgh, bursts out in laughter during a conversation with Second World War veterans after a wreath-laying ceremony at the main Commonwealth War Graves Cemetery in Ramle, Israel, October 30, 1994. AFP
    Prince Philip, Duke of Edinburgh, bursts out in laughter during a conversation with Second World War veterans after a wreath-laying ceremony at the main Commonwealth War Graves Cemetery in Ramle, Israel, October 30, 1994. AFP
  • Former South African president Nelson Mandela shares a light moment with the Duke of Edinburgh, Prince Phillip at Drakenstein Prison, Paarl, about 50 kilometres from Cape Town, on November 5, 2000. AFP
    Former South African president Nelson Mandela shares a light moment with the Duke of Edinburgh, Prince Phillip at Drakenstein Prison, Paarl, about 50 kilometres from Cape Town, on November 5, 2000. AFP
  • Queen Elizabeth II walks through the Royal Gallery accompanied by the Duke of Edinburgh for the State Opening of Parliament on June 20, 2001. AFP
    Queen Elizabeth II walks through the Royal Gallery accompanied by the Duke of Edinburgh for the State Opening of Parliament on June 20, 2001. AFP
  • Queen Rania of Jordan and the Duke of Edinburgh at a state banquet at Windsor Castle on November 6, 2001. AFP
    Queen Rania of Jordan and the Duke of Edinburgh at a state banquet at Windsor Castle on November 6, 2001. AFP
  • A Clarence House official handout photo shows the Prince of Wales and his new bride Camilla, Duchess of Cornwall, with their families Prince Harry, Prince William, Tom and Laura Parker Bowles, Duke of Edinburgh Prince Philip, Britain's Queen Elizabeth II and Camilla's father Major Bruce Shand, in the White Drawing Room at Windsor Castle after their wedding ceremony on April 9, 2005 in Windsor, England. Getty Images
    A Clarence House official handout photo shows the Prince of Wales and his new bride Camilla, Duchess of Cornwall, with their families Prince Harry, Prince William, Tom and Laura Parker Bowles, Duke of Edinburgh Prince Philip, Britain's Queen Elizabeth II and Camilla's father Major Bruce Shand, in the White Drawing Room at Windsor Castle after their wedding ceremony on April 9, 2005 in Windsor, England. Getty Images
  • Queen Elizabeth II and Prince Philip, Duke of Edinburgh greet the Crown Prince of Abu Dhabi, Sheikh Mohamed bin Zayed, as he arrives at a lunch for Sovereign Monarchs held in honour of Queen Elizabeth II's Diamond Jubilee, at Windsor Castle, on May 18, 2012. Getty Images
    Queen Elizabeth II and Prince Philip, Duke of Edinburgh greet the Crown Prince of Abu Dhabi, Sheikh Mohamed bin Zayed, as he arrives at a lunch for Sovereign Monarchs held in honour of Queen Elizabeth II's Diamond Jubilee, at Windsor Castle, on May 18, 2012. Getty Images
  • Queen Elizabeth II and Prince Philip, Duke of Edinburgh, greet the President of the United Arab Emirates, Sheikh Khalifa bin Zayed Al Nahyan, in Windsor Castle on April 30, 2013. Getty Images
    Queen Elizabeth II and Prince Philip, Duke of Edinburgh, greet the President of the United Arab Emirates, Sheikh Khalifa bin Zayed Al Nahyan, in Windsor Castle on April 30, 2013. Getty Images
  • Queen Elizabeth II and Prince Philip, Duke of Edinburgh react as they bid farewell to Irish President Michael D. Higgins and his wife Sabina at the end of their official visit at Windsor Castle on April 11, 2014. Getty Images
    Queen Elizabeth II and Prince Philip, Duke of Edinburgh react as they bid farewell to Irish President Michael D. Higgins and his wife Sabina at the end of their official visit at Windsor Castle on April 11, 2014. Getty Images
  • Prince Harry and Prince Phillip enjoy the atmosphere during the 2015 Rugby World Cup Final match between New Zealand and Australia at Twickenham on October 31, 2015, in London. Getty Images
    Prince Harry and Prince Phillip enjoy the atmosphere during the 2015 Rugby World Cup Final match between New Zealand and Australia at Twickenham on October 31, 2015, in London. Getty Images
  • Queen Elizabeth II and Prince Philip, Duke of Edinburgh during the wedding ceremony of Prince Harry, Duke of Sussex and US actress Meghan Markle in St George's Chapel, Windsor Castle, on May 19, 2018. AFP
    Queen Elizabeth II and Prince Philip, Duke of Edinburgh during the wedding ceremony of Prince Harry, Duke of Sussex and US actress Meghan Markle in St George's Chapel, Windsor Castle, on May 19, 2018. AFP
  • Prince Philip, Duke of Edinburgh smiles as he talks to Prince Harry, Duke of Sussex as they leave St George's Chapel in Windsor Castle, west of London, on May 18, 2019, after the wedding of Lady Gabriella Windsor and Thomas Kingston. AFP
    Prince Philip, Duke of Edinburgh smiles as he talks to Prince Harry, Duke of Sussex as they leave St George's Chapel in Windsor Castle, west of London, on May 18, 2019, after the wedding of Lady Gabriella Windsor and Thomas Kingston. AFP
  • Prince Philip, Duke of Edinburgh flanked by Assistant Colonel Commandant, Major General Tom Copinger-Symes, inspects buglers during the transfer of the Colonel-in-Chief of The Rifles at Windsor Castle, July 22, 2020. AFP
    Prince Philip, Duke of Edinburgh flanked by Assistant Colonel Commandant, Major General Tom Copinger-Symes, inspects buglers during the transfer of the Colonel-in-Chief of The Rifles at Windsor Castle, July 22, 2020. AFP

They said they could not see how the media could have been alerted to the fact the hearing was taking place “without risking the media storm that was feared”.

“The hearing was at a hugely sensitive time for the sovereign and her family, and those interests would not have been protected if there had been protracted hearings reported in the press rather than a single occasion on which full reasons for what had been decided were published,” they said

Sir Geoffrey and Dame Victoria said: “It is true that the law applies equally to the royal family, but that does not mean that the law produces the same outcomes in all situations.

“These circumstances are, as we have said, exceptional. We are not sure that there is a specific public interest in knowing how the assets of the royal family are distributed.

“A perceived lack of transparency might be a matter of legitimate public debate, but the (non-contentious probate rules) allow wills and their values to be concealed from the public gaze in some cases.

“The judge properly applied the statutory test in this case.”

The Guardian had challenged the decision to hold a hearing on an application to seal the will in private, saying that it was “disproportionate and unjustified”.

Caoilfhionn Gallagher QC, for Guardian News and Media, argued at last week's hearing: “An entirely private hearing such as this is the most serious interference with open justice. It is an exceptional step that requires exceptional justification.”

Our legal columnist

Name: Yousef Al Bahar

Advocate at Al Bahar & Associate Advocates and Legal Consultants, established in 1994

Education: Mr Al Bahar was born in 1979 and graduated in 2008 from the Judicial Institute. He took after his father, who was one of the first Emirati lawyers

Company profile

Date started: 2015

Founder: John Tsioris and Ioanna Angelidaki

Based: Dubai

Sector: Online grocery delivery

Staff: 200

Funding: Undisclosed, but investors include the Jabbar Internet Group and Venture Friends

Story%20behind%20the%20UAE%20flag
%3Cp%3EThe%20UAE%20flag%20was%20first%20unveiled%20on%20December%202%2C%201971%2C%20the%20day%20the%20UAE%20was%20formed.%C2%A0%3C%2Fp%3E%0A%3Cp%3EIt%20was%20designed%20by%20Abdullah%20Mohammed%20Al%20Maainah%2C%2019%2C%20an%20Emirati%20from%20Abu%20Dhabi.%C2%A0%3C%2Fp%3E%0A%3Cp%3EMr%20Al%20Maainah%20said%20in%20an%20interview%20with%20%3Cem%3EThe%20National%3C%2Fem%3E%20in%202011%20he%20chose%20the%20colours%20for%20local%20reasons.%C2%A0%3C%2Fp%3E%0A%3Cp%3EThe%20black%20represents%20the%20oil%20riches%20that%20transformed%20the%20UAE%2C%20green%20stands%20for%20fertility%20and%20the%20red%20and%20white%20colours%20were%20drawn%20from%20those%20found%20in%20existing%20emirate%20flags.%3C%2Fp%3E%0A
It Was Just an Accident

Director: Jafar Panahi

Stars: Vahid Mobasseri, Mariam Afshari, Ebrahim Azizi, Hadis Pakbaten, Majid Panahi, Mohamad Ali Elyasmehr

Rating: 4/5

HOW%20TO%20ACTIVATE%20THE%20GEMINI%20SHORTCUT%20ON%20CHROME%20CANARY
%3Cp%3E1.%20Go%20to%20%3Cstrong%3Echrome%3A%2F%2Fflags%3C%2Fstrong%3E%3C%2Fp%3E%0A%3Cp%3E2.%20Find%20and%20enable%20%3Cstrong%3EExpansion%20pack%20for%20the%20Site%20Search%20starter%20pack%3C%2Fstrong%3E%3C%2Fp%3E%0A%3Cp%3E3.%20Restart%20Chrome%20Canary%3C%2Fp%3E%0A%3Cp%3E4.%20Go%20to%20%3Cstrong%3Echrome%3A%2F%2Fsettings%2FsearchEngines%3C%2Fstrong%3E%20in%20the%20address%20bar%20and%20find%20the%20%3Cstrong%3EChat%20with%20Gemini%3C%2Fstrong%3E%20shortcut%20under%20%3Cstrong%3ESite%20Search%3C%2Fstrong%3E%3C%2Fp%3E%0A%3Cp%3E5.%20Open%20a%20new%20tab%20and%20type%20%40%20to%20see%20the%20Chat%20with%20Gemini%20shortcut%20along%20with%20other%20Omnibox%20shortcuts%20to%20search%20tabs%2C%20history%20and%20bookmarks%3C%2Fp%3E%0A
MATCH INFO

Arsenal 1 (Aubameyang 12’) Liverpool 1 (Minamino 73’)

Arsenal win 5-4 on penalties

Man of the Match: Ainsley Maitland-Niles (Arsenal)

Key findings of Jenkins report
  • Founder of the Muslim Brotherhood, Hassan al Banna, "accepted the political utility of violence"
  • Views of key Muslim Brotherhood ideologue, Sayyid Qutb, have “consistently been understood” as permitting “the use of extreme violence in the pursuit of the perfect Islamic society” and “never been institutionally disowned” by the movement.
  • Muslim Brotherhood at all levels has repeatedly defended Hamas attacks against Israel, including the use of suicide bombers and the killing of civilians.
  • Laying out the report in the House of Commons, David Cameron told MPs: "The main findings of the review support the conclusion that membership of, association with, or influence by the Muslim Brotherhood should be considered as a possible indicator of extremism."
UAE currency: the story behind the money in your pockets
Match info

Manchester United 1
Fred (18')

Wolves 1
Moutinho (53')

Mercer, the investment consulting arm of US services company Marsh & McLennan, expects its wealth division to at least double its assets under management (AUM) in the Middle East as wealth in the region continues to grow despite economic headwinds, a company official said.

Mercer Wealth, which globally has $160 billion in AUM, plans to boost its AUM in the region to $2-$3bn in the next 2-3 years from the present $1bn, said Yasir AbuShaban, a Dubai-based principal with Mercer Wealth.

Within the next two to three years, we are looking at reaching $2 to $3 billion as a conservative estimate and we do see an opportunity to do so,” said Mr AbuShaban.

Mercer does not directly make investments, but allocates clients’ money they have discretion to, to professional asset managers. They also provide advice to clients.

“We have buying power. We can negotiate on their (client’s) behalf with asset managers to provide them lower fees than they otherwise would have to get on their own,” he added.

Mercer Wealth’s clients include sovereign wealth funds, family offices, and insurance companies among others.

From its office in Dubai, Mercer also looks after Africa, India and Turkey, where they also see opportunity for growth.

Wealth creation in Middle East and Africa (MEA) grew 8.5 per cent to $8.1 trillion last year from $7.5tn in 2015, higher than last year’s global average of 6 per cent and the second-highest growth in a region after Asia-Pacific which grew 9.9 per cent, according to consultancy Boston Consulting Group (BCG). In the region, where wealth grew just 1.9 per cent in 2015 compared with 2014, a pickup in oil prices has helped in wealth generation.

BCG is forecasting MEA wealth will rise to $12tn by 2021, growing at an annual average of 8 per cent.

Drivers of wealth generation in the region will be split evenly between new wealth creation and growth of performance of existing assets, according to BCG.

Another general trend in the region is clients’ looking for a comprehensive approach to investing, according to Mr AbuShaban.

“Institutional investors or some of the families are seeing a slowdown in the available capital they have to invest and in that sense they are looking at optimizing the way they manage their portfolios and making sure they are not investing haphazardly and different parts of their investment are working together,” said Mr AbuShaban.

Some clients also have a higher appetite for risk, given the low interest-rate environment that does not provide enough yield for some institutional investors. These clients are keen to invest in illiquid assets, such as private equity and infrastructure.

“What we have seen is a desire for higher returns in what has been a low-return environment specifically in various fixed income or bonds,” he said.

“In this environment, we have seen a de facto increase in the risk that clients are taking in things like illiquid investments, private equity investments, infrastructure and private debt, those kind of investments were higher illiquidity results in incrementally higher returns.”

The Abu Dhabi Investment Authority, one of the largest sovereign wealth funds, said in its 2016 report that has gradually increased its exposure in direct private equity and private credit transactions, mainly in Asian markets and especially in China and India. The authority’s private equity department focused on structured equities owing to “their defensive characteristics.”

Know before you go
  • Jebel Akhdar is a two-hour drive from Muscat airport or a six-hour drive from Dubai. It’s impossible to visit by car unless you have a 4x4. Phone ahead to the hotel to arrange a transfer.
  • If you’re driving, make sure your insurance covers Oman.
  • By air: Budget airlines Air Arabia, Flydubai and SalamAir offer direct routes to Muscat from the UAE.
  • Tourists from the Emirates (UAE nationals not included) must apply for an Omani visa online before arrival at evisa.rop.gov.om. The process typically takes several days.
  • Flash floods are probable due to the terrain and a lack of drainage. Always check the weather before venturing into any canyons or other remote areas and identify a plan of escape that includes high ground, shelter and parking where your car won’t be overtaken by sudden downpours.

 

Washmen Profile

Date Started: May 2015

Founders: Rami Shaar and Jad Halaoui

Based: Dubai, UAE

Sector: Laundry

Employees: 170

Funding: about $8m

Funders: Addventure, B&Y Partners, Clara Ventures, Cedar Mundi Partners, Henkel Ventures

The past winners

2009 - Sebastian Vettel (Red Bull)

2010 - Sebastian Vettel (Red Bull)

2011 - Lewis Hamilton (McLaren)

2012 - Kimi Raikkonen (Lotus)

2013 - Sebastian Vettel (Red Bull)

2014 - Lewis Hamilton (Mercedes)

2015 - Nico Rosberg (Mercedes)

2016 - Lewis Hamilton (Mercedes)

2017 - Valtteri Bottas (Mercedes)

The specs

Engine: 2.0-litre 4-cylinder turbo

Power: 240hp at 5,500rpm

Torque: 390Nm at 3,000rpm

Transmission: eight-speed auto

Price: from Dh122,745

On sale: now

Tell Me Who I Am

Director: Ed Perkins

Stars: Alex and Marcus Lewis

Four stars

Results

5pm: Warsan Lake – Maiden (PA) Dh80,000 (Turf) 2,200m; Winner: Dhaw Al Reef, Sam Hitchcott (jockey), Abdallah Al Hammadi (trainer) 

5.30pm: Al Quadra Lake – Maiden (PA) Dh80,000 (T) 1,600m; Winner: Mrouwah Al Gharbia, Sando Paiva, Abubakar Daud 

6pm: Hatta Lake – Handicap (PA) Dh80,000 (T) 1,600m; Winner: AF Yatroq, George Buckell, Ernst Oertel 

6.30pm: Wathba Stallions Cup – Handicap (PA) Dh70,000 (T) 1,600m; Winner: Ashton Tourettes, Adries de Vries, Ibrahim Aseel 

7pm: Abu Dhabi Championship – Listed (PA) Dh180,000 (T) 1,600m; Winner: Bahar Muscat, Antonio Fresu, Ibrahim Al Hadhrami 

7.30pm: Zakher Lake – Rated Conditions (TB) Dh80,000 (T) 1,400m; Winner: Alfareeq, Dane O’Neill, Musabah Al Muhairi.  

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

Why it pays to compare

A comparison of sending Dh20,000 from the UAE using two different routes at the same time - the first direct from a UAE bank to a bank in Germany, and the second from the same UAE bank via an online platform to Germany - found key differences in cost and speed. The transfers were both initiated on January 30.

Route 1: bank transfer

The UAE bank charged Dh152.25 for the Dh20,000 transfer. On top of that, their exchange rate margin added a difference of around Dh415, compared with the mid-market rate.

Total cost: Dh567.25 - around 2.9 per cent of the total amount

Total received: €4,670.30 

Route 2: online platform

The UAE bank’s charge for sending Dh20,000 to a UK dirham-denominated account was Dh2.10. The exchange rate margin cost was Dh60, plus a Dh12 fee.

Total cost: Dh74.10, around 0.4 per cent of the transaction

Total received: €4,756

The UAE bank transfer was far quicker – around two to three working days, while the online platform took around four to five days, but was considerably cheaper. In the online platform transfer, the funds were also exposed to currency risk during the period it took for them to arrive.

Groom and Two Brides

Director: Elie Semaan

Starring: Abdullah Boushehri, Laila Abdallah, Lulwa Almulla

Rating: 3/5

Updated: July 29, 2022, 1:37 PM