News developments Archives - Page 152 of 224

UAE: Digital Currency to be Launched

14/07/202114/07/2021
by Benjamin Filaferro

Gulf News (United Arab Emirates), 12 July 2021: The UAE’s Central Bank has announced it plans to launch a digital currency.

The announcement is contained in the Banks’ priorities for 2023 to 2026.

It is part of the Bank’s aim to be among the world’s Top 10 central banks.

They will also focus on including driving digital transformation in the UAE’s financial services sector by utilising the latest Artificial Intelligence and big data solutions. Technology will also be used across inspection, monitoring and insurance systems as well as the UAE Pass system utilised to boost financial inclusion and provide easy access to financial services.

They will also focus on supporting the UAE’s green economy efforts and continue work to developing an innovative financial infrastructure to boost the UAE’s competitiveness in this area.

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: National Scheme for Programmers Launched

13/07/202113/07/2021
by Benjamin Filaferro

Alroeya, 10 July 2021: Dubai’s Ruler has announced a National Scheme for Programmers has been launched.

It has been launched together with large technology companies including Google, Microsoft and Amazon.

The aim of the programme is to attract and train 100,000 programmers and establish 1,000 digital companies within five years.

Golden permits will also be issued to them.

For 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: Family and Tourism Visas to be Issued Again

12/07/202112/07/2021
by Benjamin Filaferro

Al-Sharq, 8 July 2021: Qatar’s Interior Ministry has announced family and tourism visas will be issued again.

They will be issued again from 12 July 2021.

Those arriving in the country through different terminals will have to comply with the anti-Coronavirus measures approved by the Public Health Ministry.

For 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: GCC Tax Agreements Ratified

12/07/202112/07/2021
by Benjamin Filaferro

Oman’s Sultan has issued two Sultani Decrees ratifying GCC tax agreements.

Oman Sultani Decree No. 50/2021 ratifies the 2016 GCC Unified Agreement on VAT.

The relevant departments have to deposit the ratification document in line with the agreement.

Oman Sultani Decree No. 51/2021 ratifies the 2016 GCC Unified Agreement on Excise Tax.

The relevant departments have to deposit the ratification document in line with the agreement.

Both Decrees will be published in the Official Gazette and come into force on their issued date.

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: Foreign Lawyers to be Allowed to Plead in Courts

12/07/202112/07/2021
by Benjamin Filaferro

Gulf News (United Arab Emirates), 7 July 2021: According to local newspaper reports, Saudi Arabia’s Cabinet has approved a Decision to allow foreign lawyers to plead in courts.

They will have to be licensed in the Kingdom and be basic members of the Saudi Bar Association.

They must have a degree from a Sharia college or a Bachelor of Law from one of the Kingdom’s universities or an equivalent of any of these degrees obtained from abroad, or a post-graduate diploma of legal studies from the Institute of Public Administration. They must also have at least three years of practical legal experience. This period may be reduced to one year for an individual who holds a Master’s degree in Sharia or in law, or an equivalent, or a post-graduate diploma in law for Sharia college graduates. This requirement will not apply to a holder of a doctorate in these specialist fields. They must be of good conduct and not under interdiction and must not have been subjected to any hadd or Qur’anic prescribed punishment or any other sentence in connection with a crime which impugns integrity, except where a minimum of five years has passed since the sentence was issued. Finally, they must be residents of the Kingdom.

They will be able to represent third parties before courts of law, the Board of Grievances and other committees set up by laws, decrees and decisions to consider the cases falling within their respective jurisdictions.

They can also provide consultancy services based on Sharia principles and the rule of law.

The Cabinet Decision has amended a requirement in the Saudi Code of Law Practice for lawyers to be a Saudi to practice law in order to be able to plead before courts.

Previously, law firms could only outsource foreign lawyers as legal advisors.

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/.

First 2021 edition of Qatar Business Law Review Out Now!

07/07/202107/07/2021
by Benjamin Filaferro

Check out the latest edition of The Qatar Business Law Review! This issue includes:

Qatar legal news by Sultan Al-Abdulla & Partners.
A case comment by Dr. Zain Al Abdin Sharar on the Qatar International Court and Dispute Resolution Centre (QICDRC) Note on its decision in C v. D.
Practical guidance from LexisNexis Middle East on the Qatar International Court and Dispute Resolution Centre (QICDRC) and the Qatar Financial Centre (QFC) Authority.

Access the latest issue here.

UAE: Dubai International Finance Centre Enacts News Intellectual Property Regulations

07/07/202107/07/2021
by Benjamin Filaferro

Gulf News (United Arab Emirates), 6 July 2021: The Dubai International Financial Centre has announced it has enacted new Intellectual Property Regulations.

They came into force on 5 July.

They provide clarity on the powers and functions of the Commissioner of Intellectual Property. They also outline the process for filing intellectual property infringement complaints, inspections and investigations in connection with violations of the Intellectual Property Law.

In addition, they cover the issuing of directions by the Commissioner, along with the specifics which must be contained in the directions.

A Register of Experts is also going to be established and the Commissioner may appoint them to assist in investigating complaints.

Finally, the Commissioner will be able to cooperate with Federal and local authorities to protect intellectual property rights across each of their respective jurisdictions.

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: Written Warnings Issued to Establishments Violating Real Beneficiary Decision

06/07/202106/07/2021
by Benjamin Filaferro

Emaratalyoum, 2 July 2021: The UAE’s Economy Ministry together with the relevant licensing authorities in the country have started implementing the first phase of administrative penalties under Cabinet Decision No. 58/2020.

These involve written warnings being issued to establishments who violate the Decision on the regulation of the procedures for real beneficiaries.

Affected entities had to comply with the Decision by 1 July.

The second phase of the Decision being implemented will start on 8 July and will see entities who fail to comply with the Decision fined in line with Cabinet Decision No. 53/2021.

For full story see https://www.emaratalyoum.com/business/local/2021-07-02-1.1509506.

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: Amended Custom Procedures Launched

04/07/202104/07/2021
by Benjamin Filaferro

Gulf Times, 1 July 2021: Qatar Customs has announced measures to improve customs procedures in the country.

They have launched a system to launch the process of linking the image analysis or NeoTech systems of x-ray machines with the single-window or Al Nadeeb clearance system.

This system is the first of its kind and can speed up inspection processes as well as reduce release times and reduce the burdens on inspectors.

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: New Working Permits to be Issued with Golden Residency Holders

04/07/202104/07/2021
by Benjamin Filaferro

Alroeya, 1 July 2021: The UAE’s Human Resources and Emiratisation Ministry has announced it will issue working permits to golden residency holders.

The new work permit covers three categories.

These are unemployed people, people who want to renew their existing working permit and people who want to work for a different employer.

It has been issued as part of a Cabinet Decision which allowed work permits to be issued to Golden Residency holders.

The same rules and procedures related to the issuing of work permits and contracts apply to dependents registered on their parents’ residency, if they are applying for work and are Golden Visa holders.

Work permits and contracts concluded between employers and workers who receive the Golden Residency will remain valid, and subject to all applicable UAE legislations.

Prescribed fees and applicable fees for work permits for those outside the country, as well as fees for renewing and amending work permits and contracts, will also apply to Golden Residency holders.

For full story, click here.

Additional reporting from the Emirates News Agency on 1 July 2021.

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/.