News developments Archives - Page 102 of 226

UAE: Wage Protection System Implementation Started

06/04/202306/04/2023
by Benjamin Filaferro

Emaratalyoum, 31 March 2023: The Human Resources and Emiratization Ministry (MOHRE) has started mandatory implementation of the Ministerial Decision No. 675/2022 concerning the payment of the salaries of certain assisting service jobs via the Wages Protections System on 31 March 2023.

The aim is to develop services offered to employers and families in a line with the applicable regulatory legislation concerning these workers.

The Ministry had said that the implementation of this system is now mandatory and includes fives professions including private agronomist, private delegate (mandoub), housekeeping providers, private teachers, and private trainers.

For the full story, click here.

To view more news items and other content we have available, visit lexis.ae/demo to book a demo and start your free trial of Lexis® Middle East.

Want to learn more about Lexis® Middle East? Visit, https://www.lexis.ae/lexis-middle-east-law/.

New Release: March/April 2023 Edition of Lexis® Middle East Law Alert

30/03/202330/03/2023
by Benjamin Filaferro

Introducing the latest edition of our complimentary law magazine, the Lexis® Middle East – Law Alert! Stay up-to-date on the latest legal, financial, and fiscal developments and hot topics in the MENA region.

In this edition:

In Good Company? The New Saudi Company Law Regime

A new company law regime was implemented in Saudi Arabia on January 18th, 2023. Companies have a grace period of two years, but they must still consider this new regime and upcoming regulations set to take effect in 2024 to determine necessary actions and timelines, according to Alan Sfeir and Shahd Makhafad from Clyde & Co.

Legal Round-Up: Covering Recent Key Legal Developments (Region-Wide)

Stay up-to-date with the latest legal developments in the region! Our legal round-up includes all the essential news so that you can stay well-informed.

Tax and Finance Round-Up: Covering Recent Key Tax and Finance Developments (Region-Wide)

Get the latest news and insights on regional tax and finance developments with our latest round-up, supported by Aurifer Middle East Tax! Stay up-to-date on the key developments from the region and never miss out on the latest happenings.

But Who Benefits? Omani Changes on Ultimate Beneficial Owner Reporting

New requirements to identify Ultimate Beneficial Owners of companies in Oman are now in force to support the anti-money laundering and counter terrorist financing regime. Abdullah Hassan Khan and Ali Naveed Arshad from Mohammed Al Ruquaishi Law Firm provide insight into the impact on companies in Oman.

In-House Profile: Property

Haytham Alieh, Vice President of Litigation at Damac Group works for a business with property and construction at its heart, but it is technological law changes he is most eager to see being adopted following the UAE’s pioneering work in this area.

Practitioner Perspective: Virtual Asset and Related Activities Regulations

In a bid to support technological advancements, UAE legislators have been introducing pioneering laws and regulations. Ayesha Karim sheds light on how the Virtual Asset and Related Activities Regulations, which were recently issued, are promoting the implementation of Dubai Law No. 4/2022 and supporting the growth of this emerging sector.

Movers & Shakers: A Round-Up of the Top Appointments and Promotions

Check out our latest round-up of the top movers and shakers from the world of legal appointments and promotions, brought to you by Jameson Legal. Who’s been promoted, who’s been appointed and who’s moving on? Find out now!

Dispute Resolution Focus: Cases and Updates

Waleed Hamad, Head of Litigation at Al Aidarous, shares his insights on past cases and provides valuable advice to those considering initiating a dispute. We thank Al Aidarous for their support and for keeping us informed of the latest developments in dispute resolution.

Dispute Resolution Focus: Court Changes

Hashem AlAidarous from Al Aidarous highlights two significant recent developments in the UAE court system, which include the introduction of bilingual courts and the establishment of expert chambers in Abu Dhabi courts.

Contract Watch: Cloud Services

Nick O’Connell, Saudi Head of Digital & Data at Al Tamimi & Company, explains Saudi Arabia’s mandatory contractual requirements for cloud computing service agreements, which apply to subscribers in the country.

Thanks to Aurifer Middle East Tax for their valuable insights into regional tax developments. We also thank Jameson Legal for supporting individuals and businesses, and Al Aidarous for keeping us updated on dispute resolution cases.

Want to receive more content? Subscribe to our newsletter here!

Want to learn more about Lexis® Middle East? Visit, https://www.lexis.ae/lexis-middle-east-law/.

Lexis Middle East Law Alert March-April 2023

Explore the past editions of the Lexis® Middle East Law Alert and stay up-to-date with the latest news! Click the links below for instant access to older editions.

Lexis Middle East Law Alert January-February 2023

Lexis Middle East Law Alert October-November 2022

Lexis Middle East Law Alert_July-August 2022

UAE: Report on Impact of Legislation Regulating Labour Market Activities Approved

30/03/202330/03/2023
by Benjamin Filaferro

Albayan, 28 March 2023: A report on the effect of labor market regulations on the economic changes in the UAE was approved by the UAE’s Financial, Economic, and Industrial Affairs Committee in the Federal National Council.

The report was approved during a meeting held in Dubai at the general secretariate’s headquarters.

The committee reviewed the law’s impact on supporting the state’s economic development and balancing the interests of all parties, as well as its effect on the objectives and strategies of the Emirate 2071 Vision.

For the full story, click here.

To view more news items and other content we have available, visit lexis.ae/demo to book a demo and start your free trial of Lexis® Middle East.

Want to learn more about Lexis® Middle East? Visit, https://www.lexis.ae/lexis-middle-east-law/.

Saudi Arabia: Arabic Language Must be Used by Government Departments

30/03/202330/03/2023
by Benjamin Filaferro

Okaz, 22 March 2023: Saudi Arabia’s Shura Council has given its approval for the Saudi Arabia Enhancing Arabic Language Use Law, which seeks to bolster the use of the Arabic language by urging both governmental and non-governmental entities to use it.

While there will be provisions to permit the use of other languages when necessary, the focus will be on using Arabic to reinforce Arab identity.

Additionally, the law is intended to address the legal void created by the absence of legislation which promotes the use of the Arabic language.

For the full story, click here.

To view more news items and other content we have available, visit lexis.ae/demo to book a demo and start your free trial of Lexis® Middle East.

Want to learn more about Lexis® Middle East? Visit, https://www.lexis.ae/lexis-middle-east-law/.

Qatar: New Derivatives Exchange Framework Launched

30/03/202330/03/2023
by Benjamin Filaferro

Arab News, 27 March 2023: Qatar’s financial center regulatory authority has announced the country’s stock exchange will introduce a new derivatives market, allowing the trading of options and future contracts on local stocks and the main equity index.

The market will allow for the trading of options and futures contracts on local stocks and the equity index, with a separate entity established to provide clearing and settlement services.

The move is seen as an important milestone in the development of Qatar’s capital markets and its ambition to move towards developed market status.

The new derivatives exchange is expected to provide opportunities for investors to better manage and diversify their financial portfolios.

For the full story, click here.

To view more news items and other content we have available, visit lexis.ae/demo to book a demo and start your free trial of Lexis® Middle East.

Want to learn more about Lexis® Middle East? Visit, https://www.lexis.ae/lexis-middle-east-law/.

Oman: Consumer Protection Launches Prices Monitoring Platform

30/03/202330/03/2023
by Benjamin Filaferro

Alroya, 27 March 2023: As part of its commitment to serving and empowering consumers, Oman’s Consumer Protection Authority has introduced a new system to monitor prices.

The system aims to create a virtual marketplace and improve the monitoring of prices for consumers in their daily lives, as well as promoting a safe and fair market where prices are regularly updated.

The monitoring tool provides a comprehensive database of prices for over 750,000 commodities across 21 centres in Muscat, with plans to expand to other regions in the future.

For the full story, click here.

To view more news items and other content we have available, visit lexis.ae/demo to book a demo and start your free trial of Lexis® Middle East.

Want to learn more about Lexis® Middle East? Visit, https://www.lexis.ae/lexis-middle-east-law/.

Kuwait: Public Authority for Manpower Tightens Restrictions on Expat Legal Professionals

30/03/202330/03/2023
by Benjamin Filaferro

Arab Times, 27 March 2023: Kuwait’s Public Authority for Manpower has continued to filter the professions of residents working in the legal sector, withdrawing some titles and allocating them to citizens only.

It has also made a university degree mandatory for a legal researcher.

Sources report there are currently 4,576 expatriates working in the legal sector in government and private sectors who hold the titles of specialists.

Renewal of work permits will require confirmation of university certificates in the private sector.

A representative or correspondent of the law firm and administrative titles are allowed according to the assessment of the need, away from the legal jurisdiction.

There are reportedly 12,868 workers in the government and private sectors who hold the title of legal specialist, including citizens.

For the full story, click here.

To view more news items and other content we have available, visit lexis.ae/demo to book a demo and start your free trial of Lexis® Middle East.

Want to learn more about Lexis® Middle East? Visit, https://www.lexis.ae/lexis-middle-east-law/.

UAE: Federal Tax Authority Launches Business Support Initiative

23/03/202323/03/2023
by Benjamin Filaferro

Alittihad, 17 March 2023: The UAE’s Federal Tax Authority has launched an initiative which aims to support small and medium-sized businesses (SMEs) by offering a range of services and incentives tailored to the sector to promote tax compliance.

Muwafaq package is a project that offers a set of privileges to small and medium-sized enterprises (SMEs) in the UAE, along with training programmes and educational material on the basics of tax procedures to enhance compliance with tax laws and regulations in the sector.

Small and medium-sized enterprises (SMEs) are eligible to use this scheme. Those covered by the scheme will have an SME relationship manager appointed. There will be tax agent discounts and will be supplied with tax accounting software at competitive prices. SMEs will also be given priority on the use of certain Federal Tax Authority services. In addition, they will be given educational material onr tax procedures, tailored awareness sessions and workshops. Additional benefits will also be offered to SMEs.

For the full story, click here.

To view more news items and other content we have available, visit lexis.ae/demo to book a demo and start your free trial of Lexis® Middle East.

Want to learn more about Lexis® Middle East? Visit, https://www.lexis.ae/lexis-middle-east-law/.

Saudi Arabia: Commercial Registry Translation Service Transferred

23/03/202323/03/2023
by Benjamin Filaferro

Almadina, 15 March 2023: The Saudi Trade Ministry has announced the commercial registry translation service has been transferred to the Saudi Centre for Business and has been renamed the “Printing Record in English Language.”

The service is now instant and free of charge, with the Ministry no longer charging the previous 100 riyals fee.

The Business Platform and physical branches of the Centre offer services from various authorities concerned with business, including the Trade Ministry, Investment Ministry, Human Resources and Social Development, Municipal, Rural and Housing Affairs Ministry, Zakat, Tax, and Customs Authority, the General Organization for Social Insurance, and the Saudi Chambers Federation.

For the full story, click here.

To view more news items and other content we have available, visit lexis.ae/demo to book a demo and start your free trial of Lexis® Middle East.

Want to learn more about Lexis® Middle East? Visit, https://www.lexis.ae/lexis-middle-east-law/.

Qatar: Ministry Launches First Phase of Qatar’s Real Estate Platform

23/03/202323/03/2023
by Benjamin Filaferro

The Peninsular, 16 March 2023: Qatar’s Ministry of Municipality has announced, on 15 March 2023, the launch of the first phase of the country’s real estate platform.

The platform aims to collect and store real estate data from various sources in a central platform to achieve future and strategic goals of the real estate sector.

The platform will provide indicators for those involved in the real estate sector by collecting and analyzing real estate data from various authorities in the country and will benefit both government agencies and the private sector.

The second phase of the project will involve more accurate linking with concerned authorities, while the third phase will focus on launching services more effectively through the platform.

For the full story, click here.

To view more news items and other content we have available, visit lexis.ae/demo to book a demo and start your free trial of Lexis® Middle East.

Want to learn more about Lexis® Middle East? Visit, https://www.lexis.ae/lexis-middle-east-law/.