LexisNexis Middle East

Saudi Arabia: New Shipping Service Announced

04/11/202304/11/2023
by Tanya Jain

Nuom News, 30 October 2023: Saudi Arabia’s General Ports Authority or Mawani has announced the launch of a new shipping service.

CMACGM has launched a new India Gulf Express shipping service to King Abdulaziz Port in Dammam.

The new shipping service connects King Abdulaziz Port in Dammam with seven regional and international ports including Nhava Sheva, Mundra and Mangalore in India, Colombo in Sri Lanka, Jebel Ali and Khalifa in the UAE and Umm Qasr in Iraq.

It will operate four ships a week, with a total capacity of up to 9,800 containers.

It will improve the operational capabilities of King Abdulaziz Port in Dammam.

It will boost trade and export activity and increase the Kingdom’s links with global markets.

In addition to improving economic growth by reducing the time required for imports and exports, it will also reduce the cost of sea freight to and from the Kingdom’s ports, in line with the National Strategy for Transport and Logistics Services.

Click here to read more.

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News developments

Qatar: Digital Assets Lab Launched

04/11/202304/11/2023
by Tanya Jain

Lusail News, 29 October 2023: The QFC has announced it has launched a digital assets lab.

The lab will support efforts to benefit from digital technological developments in various sectors and contribute to developing other economic sectors as well as improving Qatar’s financial environment.

It has been launched as part of the financial technology strategy.

The strategy was announced by the country’s Central Bank in March 2023 as part of the Qatar National Vision 2030.

For the full story, click here.

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News developments

Oman: Draft Commercial Activities in Residential Buildings Decision Approved

04/11/202304/11/2023
by Tanya Jain

Atheer, 25 October 2023: The Muscat Governorate Municipal Council has approved a draft decision regulating the use of residential buildings for commercial purposes in Muscat Governorate.

The decision aims to address the carrying out of commercial activities in residential buildings. It takes existing activities into account.

It aims to develop the business environment and divides streets into approved and unapproved streets.

Approved streets are those where commercial activities are allowed to be carried out in residential buildings overlooking them and specify the activities which can be practiced on those streets.

Click here to read more.

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News developments

Kuwait: Child Allowance Approved for Working Women

04/11/202304/11/2023
by Tanya Jain

Gulf News (United Arab Emirates), 27 October 2023: Kuwait’s government has approved a child allowance for working women in the private sector.

It has been introduced to support Kuwaiti women whose husbands are currently unable to contribute financially because they don’t have a regular income, pension or public assistance.

It has been approved following a proposal from the First Deputy Prime Minister and Interior Minister.

It has also been introduced to help Kuwaiti women who are balancing their professional roles in the private sector with family responsibilities.

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News developments

Abu Dhabi: Global Market Publishes Amendments to Beneficial Ownership and Control Regulations

04/11/202304/11/2023
by Tanya Jain

Gulf News (United Arab Emirates), 30 October 2023: Abu Dhabi’s Global Market has announced it has published amendments to its Beneficial Ownership and Control Regulations 2022.

The 2022 Regulations repealed and replaced the Beneficial Ownership and Control Regulations 2018.

The new Regulations aim to ensure the Global Market remains aligned with the requirements of the Organisation for Economic Co-operation and Development and the standards of the Financial Action Task Force.

It also means the new regulations align with federal requirements for anti-money laundering, anti-terrorist financing and financing of illegal organisations and beneficial ownership.

Among other things, the amendments clarify the cascade approach for identifying beneficial owners of Global Market entities. This was recommended by the Task Force and the Organisation for Economic Co-operation and Development.

The amendments clarify that the location of the trustee rather than the applicable law of the trust will determine the scope of application of the relevant regulations, imposing duties on Global Market entities related to updating the record of beneficial owners upon a change of ownership in the entity along with identifying and maintaining a record of nominee directors and persons on whose behalf each nominee director acts.

A transition period has been introduced to allow time for existing Global Market entities to rectify and update their records of beneficial owners and nominee directors as well as update the required particulars and implement other regulatory changes.

The Regulations will come into force at the date of publication for new Global Market entities.

They will come into force six months from the date of publication for existing Global Market entities.

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News developments

Kuwait: Guidelines for Vehicle Colour Changes Announced

26/10/202326/10/2023
by Tanya Jain

Gulf News (United Arab Emirates), 20 October 2023: Kuwait’s Interior Ministry has announced new guidelines for changing the colours of vehicles in the country.

Under the changes, individuals wanting to change the colour of their vehicle must do three things. First of all, they have to visit the International Standards Division at the Technical Inspection Department. Doing this will enable them to obtain initial approval for the colour change. As part of this stage, they will have to sign a pledge, confirming their commitment to the chosen colour.

Vehicle owners will then be able to visit an authorised workshop which is proficient in the colour change process. This will mean the colour alteration is executed professionally, in line with the required standards.

Lastly, after the colour has been changed, a final inspection will have to be carried out at the International Standards Division of the Technical Inspection Department. The new vehicle colour will be verified and an updated car registration issued.

Workshops and garages have been warned not to alter vehicle colours without the approval of the Traffic Department. Offenders will be fined up to 500 Dinars by the Commerce and Industry Ministry.

The guidelines have been issued to help the country align with international standards and ensure documentation is done properly.

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News developments

UAE: Digital Power of Attorney Services Agreement Signed

26/10/202326/10/2023
by Tanya Jain

Al Bayan, 23 October 2023: The UAE’s Justice Minister has signed a cooperation agreement with the Justice Ministry, the Telecommunications Regulatory Authority and the Digital Government and the Supreme Council for Government Digital Transformation Committee.

The aim is to develop a digital power of attorney service to deliver government services that will allow citizens and residents to authorise others to conduct digital government transactions on their behalf quickly, securely and legally as well as in a way that preserves the rights of all parties.

The new government digital service will also be added to the UAE government’s digital capabilities. All government agencies will be able to provide digital agency service for their services on their websites and applications over the course of the next few months.

Those using this service can choose a specific government entity and a specific service provided by this entity and then submit a request to issue a special power of attorney for another person.

Read the full story here.

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News developments

Sharjah: Executive Council Authorised to Regulate Data Governance in the Emirate

26/10/202326/10/2023
by Tanya Jain

Sharjah’s Ruler has issued Sharjah Administrative Decision No. 25/2023, assigning the Emirate’s Executive Council to regulate data governance and management in the country.

The Executive Council will be authorised to adopt policies and standards and issue guidelines on all elements of organising and managing data governance in the Emirate.

All local and quasi-government agencies will have to implement the policies, standards and guidelines issued and approved by the Executive Council.

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News developments

Saudi Arabia: Major Visa Change Announced

26/10/202326/10/2023
by Tanya Jain

Saudi Gazette, 23 October 2023: Saudi Arabia’s General Directorate of Passports or Jawazat has announced a major visa change.

They have urged holders of all types of visit visas, who are staying in the Kingdom, to strictly comply with the visa rules and regulations and extend it seven days before it is due to expire.

They can do so electronically via the Absher Afrad or Absher Aamal portals and the Muqeem e-portal.

This means they do not need to visit the Jawazat offices in person.

When they are renewing their visa, they should also make the relevant payment and ensure they have valid medical insurance.

Any beneficiaries who face difficulties in utilising the e-service can submit a request to the Jawazat via its communication service on the Absher platform. A specialist team at the directorate will examine the case and notify the beneficiary of the status via text message.

However, the visit visa cannot be extended for more than 180 days.

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News developments

Qatar: Draft Budget Law Approved

26/10/202326/10/2023
by Tanya Jain

Gulf Times, 18 October 2023: Qatar’s Cabinet has approved a draft budget law.

They approved it after approving it for the 2024 financial year and referred it to the Shoura Council to consider.

The Cabinet also approved a draft Cabinet Decision amending Qatar Cabinet Decision No. 26/2004 establishing the National Committee for the Prohibition of Weapons (NCPW).

In addition, they approved a draft air services cooperation agreement between Qatar and Barbados.

Also reported in Lusail News on 18 October 2023. For the full story, click here.

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