News developments Archives - Page 18 of 223

Fujairah: Police Announce New Traffic Plan for Pedestrian Safety

22/05/202522/05/2025
by Tanya Jain

Khaleej Times, 20 May 2025: The Fujairah Police have unveiled a comprehensive traffic plan aimed at improving pedestrian safety across the emirate.

This initiative involves the establishment of new pedestrian crossings and the redesign of existing hazardous ones. The decision targets both drivers and pedestrians to reduce run-over accidents and promote safe crossing practices.

The plan aligns with Article 89 of Federal Decree-Law No. 14/2024 on the Traffic and Road Law, which penalises jaywalking with a fine of 400 AED. It forms part of a broader operational strategy for 2025, including a campaign titled “Pedestrians Have the Right to Cross Safely.” This campaign aims to lower mortality and injury rates by encouraging the use of designated crossings and discouraging risky behaviours.

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Bahrain: New Human Resources Regulation to Streamline Policies

22/05/202522/05/2025
by Tanya Jain

Mubasher, 19 May 2025: Bahrain Decision No. 29/2025 has been issued establishing a new framework for shared human resources services.

This regulation was proposed by the Civil Service Bureau to enhance efficiency and reduce costs in government operations, impacting government entities by standardising human resources practices, including on recruitment, promotions, transfers, and performance management. It mandates the transfer of HR personnel to the Civil Service Bureau, except for department directors, who will be transferred by the Bureau’s president in coordination with the relevant government authority.

Key provisions include the rotation of HR managers and department heads, restrictions on reassignments within the same government entity, and the delegation of HR tasks to government bodies with Bureau approval. The regulation also outlines procedures for seconding HR staff to government entities, managing their employment terms, and ensuring compliance with civil service rules.

The decision obliges government entities to manage HR-related expenses within their budgets, coordinate training and development programmes, and provide necessary resources for HR staff. It also establishes guidelines for performance evaluation, disciplinary actions, and grievance procedures.

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Abu Dhabi: ADGM Proposes Consumer Protection Regulations for Retail Sector

22/05/202522/05/2025
by Tanya Jain

ADGM, 15 May 2025: The ADGM Registration Authority (RA) has published Consultation Paper No. 4/2025, detailing the proposed Consumer Protection Regulations for ‘Category C’ retail activities within the ADGM jurisdiction.

This initiative was launched in response to ADGM’s expansion to Al Reem Island and the significant presence of retail licence holders, which has necessitated a robust consumer protection framework. The proposed regulations are designed to safeguard consumer interests and ensure a reliable retail market economy. They impose specific obligations on retail providers, including product labelling, usage instructions, and the requirement to seek Registrar approval for promotions. Retailers must disclose the condition of used or refurbished products at sale, avoid misleading advertisements, and refrain from harmful contract terms. The regulations also require product warranties and procedures for handling defective products.

The RA’s proposals includes establishing a consumer complaint handling channel and empowering the Registrar to assess complaints, issue determinations, and impose financial penalties for regulatory breaches. These measures aim to reinforce consumer confidence and ensure fair practices in the retail sector.

The consultation period for the proposed regulations ends on 8 June 2025.

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Dubai: Enforces New Compliance Rules for Digital Asset Firms

21/05/202522/05/2025
by Tanya Jain

AInvest, 19 May 2025: Dubai’s Virtual Assets Regulatory Authority (VARA) issued a directive requiring licensed digital asset companies to comply with updated activity-based Rulebooks by 19 June 2025 following the release of Version 2.0 on 19 May 2025.

This update aims to strengthen market integrity and risk oversight by refining controls around margin trading and token distribution services, harmonising compliance requirements, and clarifying definitions for collateral wallet arrangements. It impacts all virtual asset service providers (VASPs) operating within Dubai, obliging them to align with the new rules after a 30-day transition period. VARA has emphasised the importance of this transition period to facilitate adaptation to the updated regulations.

The updated Rulebooks will enhance supervisory mechanisms across various regulated activities, including advisory, broker-dealer, custody, exchange, lending and borrowing, virtual asset management and investment, and VA transfer and settlement services. Key operational terms such as “client assets,” “qualified custodians,” and “collateral requirements” have been defined to ensure consistency and reduce ambiguity in compliance.

In margin trading, VARA tightened leverage thresholds and mandated clearer collateralisation standards to mitigate risks associated with market downturns. The Rulebooks also introduced new token distribution regulations, outlining licensing prerequisites, investor protections, and marketing restrictions, particularly for retail-facing offers.

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Saudi Arabia: Amends GCC Customs Tariff Schedule to Revise Duties on Select Products

21/05/202521/05/2025
by Tanya Jain

Saudi Gazette, 17 May 2025: The Saudi Ministry of Finance approved several amendments to the Integrated Customs Tariff Schedule for the Gulf Cooperation Council (GCC) states.

These amendments are set to take effect on 6 October 2025 and involve the imposition of revised duties on certain product categories, impacting importers and businesses dealing with products such as natural honey and chemical compounds. The revised tariff schedule includes a 5 percent customs duty on natural honey, including Manuka honey and other types, whether filtered or containing wax pieces. Additionally, a 2 percent duty was imposed on various chemicals, including acetophenone and benzophenone, while a 52 percent duty was applied to compounds like methyl naphthyl ketone.

The amendments also addressed the description and labeling of goods, correcting formal errors in the tariff schedules. Notably, a 5 percent duty was introduced for fresh fatty livers, and several types of frozen fish were renamed with a unified duty rate of 5 percent. Furthermore, Indian betel leaf was included in the customs tariff, while the import of khat was explicitly prohibited under the “other plants” section.

These legal changes align the tariff schedule with the decisions of the GCC countries, ensuring consistency and compliance across member states.

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UAE: Federal Tax Authority Clarifies Corporate Tax Rules for REIT Investors

15/05/202515/05/2025
by Hannah Gutang

The Finance World, 7 May 2025: The UAE Federal Tax Authority (FTA) issued a clarification CTP005 on the Taxation of investors in a Real Estate Investment Trust (REIT) that is exempt from Corporate Tax as a Qualifying Investment Fund

The clarification covers the income that will be taxed in the hands of juridical persons that are investors in a REIT and the relevant Tax Period in which the income will be taxed for such investors. It also provides information on the compliance obligations of the REIT and the investors.

A REIT that meets the conditions of Article 10(1) of Federal Decree-Law No. 47/20221 and Article 4(1) of Cabinet Decision No. 34/20252 can make an application to the Federal Tax Authority to be exempt from Corporate Tax as a Qualifying Investment Fund. Where a REIT is exempt from Corporate Tax, the Taxable Income of a juridical person that is an investor in the REIT is adjusted to include 80% of the prorated Immovable Property Income of the REIT. However, if the REIT makes a distribution within nine months from the end of its Financial Year and the investor has not received the dividend distribution due to the disposal of its entire Ownership Interest in the REIT, the investor will not be subject to Corporate Tax on the Immovable Property Income of the REIT.

A REIT must provide specific information in respect of the period to which the distribution relates, or the relevant Financial Year of the REIT, as the case may be. This includes the amount of Immovable Property Income of the REIT; whether the REIT is a distributing fund for such Financial Year; and the amount of tax depreciation deduction for each investment property.; any disposals of investment property for which a tax depreciation deduction was previously claimed. A REIT is not required to provide investors with information that is not relevant to the investor’s Corporate Tax obligations or which the investor has an obligation to keep in their own records, such as the investor’s own acquisition cost or disposal proceeds of an Ownership Interest in the REIT.

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Saudi Arabia: New Labour Regulations Banning Personal Freedom Questions in Job Interviews

15/05/202515/05/2025
by Hannah Gutang

Gulf News, 9 May 2025: The Saudi Ministry of Human Resources has issued new labour regulations prohibiting questions related to personal freedoms during job interviews.

This is part of Saudi Arabia’s ongoing efforts to regulate its labour market and ensure fair employment practices, particularly for its large expatriate community.

The decision impacts employers and job applicants across Saudi Arabia, mandating that job interviews and announcements to be free from discrimination based on gender, disability, age, and marital status. Interviewers are also prohibited from asking about an applicant’s previous workplace confidentialities, ensuring privacy and respect for personal boundaries.

Employers are obligated to inform job applicants of interview details at least three working days in advance, whether the interview is in-person or remote. The interview venue must comply with health and safety regulations, providing adequate seating, visible entrances and exits, and gender-specific restrooms. Security measures, such as electronic systems or security guards, must also be in place.

Additionally, job vacancy announcements must align with the Saudi Unified Occupational Classification and be posted on official digital platforms or licensed employment fairs. These announcements must include comprehensive details such as the company name, activity, office location, job description, required qualifications, work hours, benefits, and application procedures.

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Qatar: Cabinet Approves Draft Traffic Law Legislation

15/05/202515/05/2025
by Hannah Gutang

Qatar Tribune, 8 May 2025: The Qatari Cabinet approved draft legislation for a new traffic law.

This legal decision is part of the Ministry of Interior’s strategy to regulate and develop traffic movement, improve traffic security, and adapt to advancements in infrastructure and automotive technology.

The draft legislation introduces updated mechanisms for detecting traffic violations, thereby serving the public interest. The law aims to align traffic regulations with the nation’s infrastructural developments and technological advancements, ensuring a safer and more efficient traffic system.

The draft law has been referred to the Shura Council for further deliberation.

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Kuwait: Health Ministry Sets Prices for Sets Medicines

15/05/202515/05/2025
by Hannah Gutang

Kuwait Times, 12 May 2025: Kuwait Ministerial Decision No 93/2025, has been issued approving new pricing for 69 medicines and pharmaceutical products in private pharmacies.

The decision follows recommendations made by the Drug Pricing Committee. These approved prices are for a wide range of therapeutic categories. These include medications for cancer, including leukemia, as well as treatments for diabetes, hypertension, high cholesterol, and cardiovascular diseases. It also covers anticoagulants, antidepressants, antiepileptics, antibiotics, antifungals, antivirals, asthma treatments, osteoporosis drugs, thyroid medications, dermatological preparations, Alzheimer’s and dementia treatments, obesity medications, and migraine relief drugs.

The new decision complements Kuwait Ministerial Decision No. 74/2023.

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Dubai: Smart Building Policy

15/05/202515/05/2025
by Hannah Gutang

Gulf News, 9 May 2025: Sheikh Hamdan has approved a smart building policy design to reduce consumption of water and energy.

Sheikh Hamdan bin Mohammed bin Rashid Al Maktoum, Chairman of the Executive Council, has approved the new policy measures in alignment with the objectives of the Dubai Social Agenda 33 and the Dubai Economic Agenda D33. The policy is being led by the Dubai Municipality. It outlines standards for smart buildings that use renewable energy, intelligent water networks, smart parking, automated climate control, and real-time monitoring systems.

It aims to reduce power consumption in buildings by 25%, water use by 15%, and operational costs by 20%,

At present, adoption of the policy is purely voluntary in new buildings, but it will be backed up by initiatives to encourage adoption by investors and developers in due course.

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