Lazard set to hire Citigroup’s Saudi Arabia CEO: Bloomberg 

Lazard's roots stretch back to the 1840s (Shutterstock)
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Updated 16 September 2022
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Lazard set to hire Citigroup’s Saudi Arabia CEO: Bloomberg 

RIYADH: Financial services company Lazard is set to hire Citigroup’s Saudi Arabia CEO Wassim Al-Khatib to support the boutique firm’s advisory operations across the Middle East and North African region.

Al-Khatib is expected to join Lazard as CEO for its MENA financial advisory business, Bloomberg reported citing people familiar with the matter.

Citigroup confirmed Al-Khatib's resignation and said that Carmen Haddad, vice chairperson for Citigroup Middle East and country officer in Saudi Arabia, will be taking over as acting CEO, as the bank seeks to replace him.

A representative for Lazard and Al Khatib couldn’t be immediately reached for comment.

Al Khatib joined the New York-based bank as CEO in Saudi Arabia in 2021 and was previously head of investment banking at NCB Capital for about 15 years.

The Saudi national was a leading figure in Saudi Aramco's initial public offering in 2019, the biggest ever share sale that raised almost $30 billion.


India seals $3bn LNG agreement with UAE

Updated 19 January 2026
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India seals $3bn LNG agreement with UAE

  • Leaders hold talks to strengthen trade, defense ties

NEW DELHI, DUBAI: India signed a $3 billion deal on Monday to buy liquefied natural gas from the UAE, making it the Gulf country’s top customer, as the leaders of both countries held talks to strengthen trade and defense ties.

The agreement was signed during a very brief two-hour visit to ‌India by UAE ‌President Sheikh Mohammed bin Zayed Al-Nahyan for talks with Indian ‌Prime Minister Narendra Modi. 

They pledged to double bilateral trade to $200 billion in six years and form a strategic defense partnership.

Abu Dhabi state firm ADNOC Gas will supply 0.5 million tonnes of LNG a year to India’s Hindustan Petroleum Corp. for 10 years, the companies said.

ADNOC Gas said the agreement brings the total value of its contracts with India to over $20 billion.

“India is now the UAE’s largest customer and a ‌very important part of ADNOC Gas’ LNG strategy,” ‍the company said.

The UAE is ‍India’s third largest trading partner and Sheikh Mohammed was accompanied ‍by a government delegation that included his defense and foreign ministers. The two sides signed a letter of intent to work toward forming a strategic defense partnership, India’s Foreign Secretary Vikram Misri told reporters.

Misri, however, said that the signing of the letter of intent with the UAE does not mean that India will get involved in regional conflicts.

“Our involvement on the defense and security front with a country from the region does not necessarily lead to the conclusion that we will get involved in ‌particular ways in the conflicts of the region,” he said.