Japan’s Banks take steps to Evacuate Staff from Middle East Amid War between Israel and Iran

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Adani Group has raised around $750 million from global investors led by Apollo Global Management Inc. to refinance existing debt, in a deal that lends operational flexibility to the conglomerate’s airport business. Mumbai International Airport Ltd., a unit which operates Chhatrapati Shivaji Maharaj International Airport in Mumbai, will use the proceeds to refinance debt raised in 2022, the New York-based alternative asset manager said in a statement. The structure also allows for up to $250 million in additional funding for capital expenditure and capacity expansion needs. MIAL is managed by Adani Airport Holdings Ltd., a subsidiary of Adani Enterprises Ltd., the flagship company of billionaire Gautam Adani’s globally diversified Adani Group. MIAL is run through a public-private partnership between AAHL, which holds a majority stake of 74%, and the Airports Authority of India, which owns the other 26%. Chhatrapati Shivaji Maharaj International Airport in Mumbai Chhatrapati Shivaji Maharaj International Airport.Photographer: Sumit Dayal/Bloomberg Adani’s conglomerate, which has interests stretching from ports to green energy, has been regaining creditor confidence after the US indicted Adani last November for an alleged bribery plot. In May, the Life Insurance Corp. of India was the sole subscriber to Adani Ports & Special Economic Zone Ltd.’s record 50 billion rupee ($585 million) 15-year bond sale. In the new round of offshore fundraising, other lenders include Metlife Inc., BlackRock Inc. and Hong Kong-based FWD Insurance, Bloomberg News had reported earlier. The private placement of four-year bonds with long-term investors such as insurers reinforces the company’s effort to elongate average maturities. In May, Fitch Ratings revised its outlook on MIAL’s USD notes to positive, while keeping its BB+ credit score.

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After recent US airstrikes on Iran’s nuclear facilities, the situation in the Middle East has become tense and unpredictable. Because of this, Japan’s biggest banks and companies have started taking steps to protect their employees and their families working in countries like the UAE, Qatar, and Saudi Arabia.

What Steps Are Being Taken?

1. Mitsubishi UFJ Financial Group (Japan’s largest bank)

Has started moving the families of its staff out of cities like Dubai.
If necessary, they may also evacuate the employees along with their families.
The bank has stopped all non-essential travel to and from the region.

2. Mizuho Financial Group

Advised all staff in the region to be extra cautious.
They are preparing for individual evacuations of employees if needed.

3. Sumitomo Mitsui Financial Group

Planning to bring back staff from places like Qatar and the UAE (United Arab Emirates).

4. MS&AD Insurance Group Holdings

They are also planning to temporarily recall their employees working in Dubai and Abu Dhabi.

5. Marubeni Corporation (a trading company)

Has stopped sending employees on business trips to the Middle East.
Has started evacuating family members of employees who are based in certain countries in the region.

6. Japan Airlines (JAL)

Plans to reroute flights between Tokyo (Haneda Airport) and Doha (Qatar) to avoid flying over Persian Gulf and Gulf of Oman airspace.
This new route will add about 20 minutes to the total flight time.

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Why This Is Happening?

The reason behind all this action is fear of retaliation by Iran following the US airstrikes on Saturday. Japan is worried that the safety of its citizens working in the Middle East could be at risk if the situation escalates.

The Middle East—especially cities like Dubai, Abu Dhabi, and Doha—has become a favorite location for international banks, hedge funds, and companies. The region offers:

No income tax
A good time zone for doing global business
A luxurious lifestyle

Countries like Saudi Arabia and Qatar are also working hard to become global business hubs, reducing their dependence on oil.

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Japan’s top banks and companies are preparing for the worst by moving staff and their families out of the Middle East due to increased risks after the US struck Iran. This shows how quickly companies respond to ensure employee safety when global tensions rise.

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