London: FIS, the British broker of freight and commodity swaps, is opening an office in Dubai. “The move is in response to the growing market for freight and commodities and its proximity to Asian markets,” FIS noted in a release.
Most of FIS’ London-based dry cargo FFA operations will shift to Dubai, with staff relocating there with effect from April 2, 2013.
FIS managing director John Banaszkiewicz said: “Dubai and the wider region is buzzing again. The local economy grew 5% last year – its fastest pace since 2007, with over $200bn invested in capital projects and 60m airline passengers. FIS wants to be a part of this Arabian adventure; new cities, new motorways and new markets.
“The Dubai office compliments our global network, providing 24 hour coverage alongside our key centres in New York, London, Singapore and Shanghai and helping to bridge the timezone between Asia and Europe.” [12/03/13]