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FINANCIAL NEWS
Simmons& Simmons firm to close its office in Abu Dhabi
03 Feb 2016
(MENAFN) London-based Simmons & Simmons firm will close its office in Abu Dhabi in the last year as low oil prices put an obstacle on business.
Moreover, it trails US-based law firms Latham& Watkins and Baker Botts, as well as London and Sydney co-headquartered Herbert Smith Freehills (HSF).
The company which decided to close its Abu Dhabi office would serve its clients through its office in Dubai, moving its Abu Dhabi based partners to Dubai or London.
In addition, Abu Dhabi cut back or slowed spending on non-essential projects and lifted subsidies on petrol to facilitate finances as state incomes decline due to cheap oil.
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