LexisNexis Middle East

Saudi Arabia: New Waste Management Law Approved

28/04/202128/04/2021
by Benjamin Filaferro

Al Riyadh, 26 April 2021: Saudi Arabia’s Shoura Council has approved a new Waste Management Law.

It includes jail terms and/or fines up to 30 million Riyals for anyone who stores, burns, treats, or disposes off any waste which represent in any way or form a risk to the public health or damages the environment.

The aim of the law is to regulate the activity of collecting, transporting, sorting, storing, importing, exporting, treating and safely disposing of waste including the necessary care for sites.

Under the law, it is also forbidden to dump waste of any type or bury, burn or throw it outside the designated areas.

For full story see https://www.alriyadh.com/1882550.

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News developments

UAE: Commercial Companies Law Amendments Being Considered

26/04/202126/04/2021
by Benjamin Filaferro

The Undersecretary for Foreign Trade and Industry at the Economy Ministry has announced amendments to the country’s Commercial Companies Law are being considered. If approved, they will allow 100% foreign ownership of onshore companies in the UAE.

The amendments are being finalised. It will enable investors and business in 10 sectors of strategic importance to benefit from the Law.

The relevant sectors and the associated regulations will be included in a Cabinet Decision which will be issued soon.

They added the cancellation of the national service agent requirement came into force on 1 April. It means all existing businesses in the UAE can amend their statuses in line with the Commercial Company Law amendments approved last year.

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News developments

Dubai: No Gambling Licenses Being Issued

25/04/202125/04/2021
by Benjamin Filaferro

Khaleej Times (United Arab Emirates), 22 April 2021: Dubai’s Government Media Office has said no gambling licenses are being issued.

They were responding to rumours on social media saying these licenses had started to be issued.

Also covered in Al Bayan on 22 April 2021. For full story see https://www.albayan.ae/uae/news/2021-04-22-1.4147590.

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News developments

Bahrain: Bahrain Signs Mutual Recognition of Vaccination Agreement with Israel

25/04/202125/04/2021
by Benjamin Filaferro

Bahrain has signed a mutual recognition of vaccination and green passports agreement with Israel.

It is the first agreement of its kind between the two countries and is a global precedent for a bilateral agreement on mutual recognition of vaccination certificates.

Under the agreement, those who have been vaccinated in both countries and received vaccinations recognised in the other country will be exempt from isolation rules and be able to enter places which require a green passport. In the second phase, arrangements will be made for people who have been vaccinated with a vaccine which is not recognised by one of the two countries.

The identification process will be carried out digitally. This will facilitate entry into both countries. It is expected to strengthen tourism, trade and economic relations between the two countries.

It follows recent talks between the Bahraini Foreign Affairs Minister and their Israeli counterpart, Gabi Ashkenazi.

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News developments

Saudi Arabia: Penalties for Trademark Counterfeiting Announced Saudi Arabia: Penalties for Trademark Counterfeiting Announced

25/04/202125/04/2021
by Benjamin Filaferro

Saudi Gazette, 22 April 2021: Saudi Arabia’s Commerce Ministry has announced the penalties for trademark counterfeiting.

Offenders will be jailed for up to one year and/or fined up to one million Riyals.

The same penalties will be imposed on those who violate the Trademark Law.

This will include those who forge registered trademarks or exhibit, sell or possess products bearing a forged or counterfeit trademark.

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.

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News developments

Qatar: Recommendations on Investment and Trade Court Establishment Submitted

23/04/202123/04/2021
by Benjamin Filaferro

The Legal and Legislative Affairs Committee of Qatar’s Shoura Council has held a meeting. They examined the draft law on establishing an investment and trade court and submitted its recommendations to the Shoura Council.

News developments

Oman: Ministry is working on more foreign investment initiatives for various sectors

23/04/202123/04/2021
by Benjamin Filaferro

Oman’s Commerce and Industry and Investment Promotion Minister has announced the Ministry is working on more foreign investment initiatives for various sectors. The initiatives will include drafting a national strategy for intellectual property, e-commerce activities and regulations regarding fees for displaying Omani products in commercial complexes. Amendments to the Sultanate’s Industrial Law are also being considered and an industrial strategy is being prepared which will be in line with Oman Vision 2040.

News developments

Kuwait: Auditing Bureau Given Financial and Administrative Independence

23/04/202123/04/2021
by Benjamin Filaferro

Kuwait’s Parliament has discussed amendments to the Auditing Bureau Law which if approved, would give the Chairman of the Bureau law enforcement powers. The Council approved the article which states the Bureau is a monitoring independent body which enjoys legal personality and administrative and financial independence. The Bureau also has the power to carry out all of the legal dealings necessary to achieve its objectives including concluding contracts, owning transferable and non-transferable monies and has the right to litigate.

News developments

GCC: Consultation on Agreement on Inter-state Financial Products Registration Launched

23/04/202123/04/2021
by Benjamin Filaferro

The Committee of the Chairmen of the Capital Market Authorities of the GCC has announced a consultation on an agreement on inter-State financial products registration has been launched. It will be circulated between the bodies which regulate the financial markets in the GCC, and they should their feedback on the most appropriate legislative and legal instrument which should be adopted to register financial products. The General Secretariat must receive these comments by the end of July 2021.

News developments

Dubai: No Gambling Licenses Being Issued

23/04/202123/04/2021
by Benjamin Filaferro

Dubai’s Government Media Office has said no gambling licenses are being issued. They were responding to rumours on social media saying these licenses had started to be issued.