News developments Archives - Page 205 of 228

Bahrain: Final Consultation on Batelco Split Launched

13/04/201911/12/2019
by Benjamin Filaferro

Bahrain’s Telecommunications Regulatory Authority has launched a final consultation on the reference offer of the split Batelco entity. The consultation ends on 25 April 2019. The new wholesale-only entity (NBNetco BSC) will be formed by the separation of Batelco into two distinct entities. NBNetco will operate and deploy the single national broadband infrastructure in the Kingdom. This is how all telecom services including 5G will be provided. Service providers must therefore be granted access to the infrastructure on fair and reasonable terms.

Egypt: Implementing Regulations to Consumer Protection Law Published

08/04/201911/12/2019
by Benjamin Filaferro

The Chairman of Egypt’s Consumer Protection Authority has announced the Implementing Regulations to the country’s Consumer Protection Law have been published. The Implementing Regulations to Egypt Law No. 181/2018 are contained in Egypt Regulation No. 822/2019. The Regulations emphasise the importance of informing consumers about all basic data on products, which is the consumer’s right to know before purchasing. It covers obligatory provisions by sellers or service providers of an invoice. They also cover the rights of consumers to recover or replace products within 14 days and within 30 days in the event of a product defect.

Saudi Arabia: New Investment Bank for SMEs to be Established

08/04/201911/12/2019
by Benjamin Filaferro

Saudi Arabia’s Trade and Investment Minister has announced a new bank for Small and Medium Enterprises will be established. The Minister confirmed permission to open the bank has been issued and relevant bodies will have to cooperate with the International Bank to prepare the necessary study. He added the law for Competition and Procurement are being finalised and will empower SMEs.

Bahrain: Calls to End the System of Flexible Work Permits

08/04/201911/12/2019
by Benjamin Filaferro

Bahraini MPs have called on the Government to end the system of flexible work permits used by freelancers immediately and compensate merchants for damage caused by the system. The Labour Minister has said flexible workers do not have the right to establish a private company and added the practice does not hurt Bahraini employment. Workers will not be allowed to move to another sponsor until two years of service and will pay 500 Dinars in insurance when entering the country to cover any claims against them.

Bahrain: Independent Family Medicine Clinics for Healthcare Professionals

30/03/201911/12/2019
by Benjamin Filaferro

Bahrain’s Cabinet has amended standards for health professionals. Doctors qualified to work in public and private hospitals are to be permitted to open and run their own independent clinics, following a training program launched by the Arab Gulf University. The Cabinet amended the requirements for such professionals to permit Bahrainis with at least a masters’ degree in family medicine to become licensed and open private family medicine clinics. The amendments are a part of the National Employment Program, seeking to create more jobs for Bahrainis. The Prime Minister has set a target to employ 240 Bahraini doctors over the coming two years.

Egypt: Amendments to Egypt Law No. 196/2017 Regulating the Gas Market Activities

30/03/201911/12/2019
by Benjamin Filaferro

Egypt’s President has issued a Decree amending the Law regulating the activities of the gas market, promulgated by Egypt Law No. 196/2017. The Decree revokes Article 10(6) of Egypt Law No. 196/2017. It had said the Board of Directors of the Gas Regulatory Authority will adopt a system for monitoring and determining the performance criteria of licensees with respect to gas market activities. The Decree has been published in the Official Gazette.

Dubai: Private Schools Allowed to Increase Fees Again

30/03/201911/12/2019
by Benjamin Filaferro

Dubai private schools will be allowed to increase their fees again in the next academic year, following an approval by the Ruler at a meeting of the Dubai Executive Council, on the condition that their quality rating has not slipped in the last year’s government inspections. Schools are expected to work within an approved framework instituted by the Dubai Knowledge and Human Development Authority (KHDA).

Saudi Arabia: Transfer Pricing Guidelines Published

24/03/201911/12/2019
by Benjamin Filaferro

Saudi Arabia’s General Authority for Zakat and Tax has issued guidelines on transfer pricing in Arabic and English. They cover the basic concept of transfer pricing and arm’s length principle. The Authority provides specific guidance on financial transactions, intangibles and business restructuring. The guidelines also provide guidance on selection of transfer pricing method, transfer pricing documentation, valuation, transfer pricing adjustments and details on audits.

Kuwait: New Decree Establishing Real Estate Broker’s Book

23/03/201911/12/2019
by Benjamin Filaferro

Kuwait’s Commerce and Industry Minister has issued a Decree establishing a Real Estate Broker’s Book. The Book will be online and is aimed at finalising the regulation of the country’s real estate sector and eliminate market manipulations. Under the Decree, the Commerce and Industry and Justice Ministries, Kuwait Municipality and the Public Authority for Civil Information will establish a database with details of any property which is being traded in terms of disputes and ownership status. Those who have obtained the relevant e-permits from the Public Authority for Civil Information will then be able to register on the e-booking system.

UAE: New Measures to Increase the Regulation of the Pharmaceutical Industry

23/03/201911/12/2019
by Benjamin Filaferro

The government of the UAE is set to pass new measures to increase the regulation of the pharmaceutical industry. Under the legislation, currently under review, those caught selling counterfeit medicine with be punished with up to five years in prison and a 1 million AED fine. There will also be prison sentences for up to a year in jail and a 500,000 AED for those selling poisonous substances. In addition, pharmacies caught overcharging for products could be fined up to 100,000 AED, with fines doubling for repeat offenders. Existing UAE legislation for in this area pharma industry dates back to 1983. The Federal National Council has said the draft laws would shortly be referred to the Cabinet. The FNC has also added pharmacists found to have faked a licences would be fined up to 200,000 AED and sentenced to two years in jail.