Newsletter Archives - Page 104 of 244 - LexisNexis Middle East

Saudi Arabia: White Land Fees System to be Amended

02/03/202302/03/2023
by Benjamin Filaferro

Okaz, 26 February 2023: Saudi Arabia’s Municipality, Rural, and Housing Affairs Ministry will amend the Saudi Arabia White Land Fees System and its executive charter to encompass residential and commercial uses.

The amendments will also introduce a fee of 2.5% of the land’s value.

The committee established based on Article 14 of the Saudi Arabia White Land Fees System it may levy fees of up to 10% of the estimated land value within certain limits and according to criteria to be established by the ministry, including the land’s location, intended use, building system, utilities, and population density.

Landlords of land subject to the fees must provide the ministry with the documents and information related to their properties within a timeframe set by the ministry, not exceeding three months from the date of the announcement.

For the full story, click here.

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Qatar: Judicial Supreme Council Issues Family Bank Card

02/03/202302/03/2023
by Benjamin Filaferro

Raya, 27 February 2023: Qatar’s Judicial Supreme Council has launched a prepaid family bank card, designed to facilitate timely payment of regular expenses for entitled beneficiaries.

The card will be funded from the Families Deposits Account through the Qatar Islamic Bank.

The initial batch of cards was issued in February and can be used by families receiving maintenance payments to ensure beneficiaries receive their court-allocated funds.

For the full story, click here.

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Oman: New App Launched to Combat Counterfeit Goods

02/03/202302/03/2023
by Benjamin Filaferro

Muscat Daily, 28 February 2023: Oman’s Tax Authority has launched an app called ‘Ta’akad’ to protect consumers from counterfeit goods and to verify the validity of tax stamps on products.

The app is available on both Android and IOS devices and allows consumers to report any commodity which violates the law.

The Tax Authority is working with the Royal Oman Police and the Consumer Protection Authority to prevent the entry into the country of cigarettes and tobacco products without the distinctive tax stamp to prevent fraud.

For the full story, click here.

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Kuwait: Capital Market Launches Reporting Service

02/03/202302/03/2023
by Benjamin Filaferro

Alanba, 24 February 2023: The Capital Market Authority has recently launched an application called “Sahel,” which offers a reporting service for crimes and violations as defined by Kuwait Law No. 7/2010 On the Establishment of the Capital Market Authority and Regulation of Securities Exchange Activity.

The service’s primary aim is to facilitate the reporting of crimes and violations by providing an easy-to-use platform for individuals to provide full details, including time, location, and any other pertinent information.

For the full details, click here.

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Dubai: Unified Service for Citizen’s Services “Emirati”

02/03/202302/03/2023
by Benjamin Filaferro

Albayan, 26 February 2023: In Dubai, the “Emirati” application has been launched as a unified platform for citizen services.

This comprehensive platform features 153 services, including social and housing services, payment facilities, event listings, health insurance cards, and discounts.

The Dubai Digital Authority has been instructed to collaborate with agencies and institutions to include all necessary services for citizens into the platform by the end of this year.

For the full story, click here.

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UAE: Importance of Indian Customs Agreement

23/02/202323/02/2023
by Benjamin Filaferro

Emaratalyoum, 18 February 2023: At the Global Business Summit in India, the UAE’s Economy Minister has highlighted the agreement signed between India and the UAE which came into effect in May 2022.

He has stated the agreement cancelled the customs tariff between the two countries on more than 80% of Indian and Emirati products.

He has also added customs tariffs will be fully terminated within 10 years to increase commercial exchange and joint investments.

The agreement has enabled service providers to reach 11 main markets and more than 100 sub-sectors.

For the full story, click here.

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Saudi Arabia: Building Code Implementation System Executive Regulations Approved

23/02/202323/02/2023
by Benjamin Filaferro

Alarabiya, 18 February 2023: Saudi Arabia’s Trade Minister has approved amendments to the executive regulations of the Building Code’s implementation system.

The amendments aim to establish minimal requirements and conditions which ensure the public’s health and safety by guaranteeing the stability of buildings.

They also aim to ration water and energy and protect lives and properties against fire, earthquakes, and other dangers.

The conditions include procedures and controls for obtaining building licences.

Engineering plans for buildings and establishments and criteria used will also be an integral part of the requirements.

For the full story, click here.

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Oman: Commercial Franchise Programme Launched

23/02/202323/02/2023
by Benjamin Filaferro

Alroya, 20 February 2023: Oman’s Trade, Industry, and Investment Promotion Minister has launched the Commercial Franchise Programme which aims to enable Omani companies to qualify for commercial franchise opportunities.

As part of the programme several workshops will be organized by the Chamber of Industry and Commerce throughout the provinces.

The scheme will support Omani companies by enabling them to assign Commercial Franchise Rights or connect with companies which are doing so.

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Kuwait: Circular Issued on Conflict of Interest

23/02/202323/02/2023
by Benjamin Filaferro

On 16 February 2023, Kuwait’s Capital Market Authority has published a new circular on conflict of interests on its website.

The circular aims to determine and regulate circumstances in which companies and their employees will be considered to be in a conflict-of-interest situation, including companies to which the state or other public agencies contribute.

It has also specified disclosure requirements.

The Authority has confirmed in the circular that all companies subject to supervision according to the provisions of Kuwait Law No. 7/2010 On the Establishment of the Capital Market Authority and Regulation of Securities Exchange Activity, its Executive Bylaws and their amendments must comply with the provisions of Kuwait Law No. 1/2023 Concerning the Prevention of Conflicts of Interest on written notification upon the occurrence of a conflict.

For the full details, click here.

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Abu Dhabi: New Mechanisms for Handing Over Labourers’ Dues Adopted

23/02/202323/02/2023
by Benjamin Filaferro

Albayan, 16 February 2023: Abu Dhabi’s Labour Court has adopted new mechanisms and procedures to guarantee labourers are paid quickly in a few easy steps.

According to this new mechanism, a private sector company responsible for providing labourers’ insurance coverage must open an office at the Labour Court’s headquarters to pay their financial dues faster based on legal controls.

Based on Abu Dhabi Ministerial Decision No. 318/2022 on the bank guarantee and insurance for labourers’ dues, private sector employers have two options.

They can either pay a bank guarantee of no less than 3,000 AED for each labourer or buy an insurance policy for 30 months at 137.50 AED for skilled labourers and 180 AED for unskilled labourers.

For the full story, click here.

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