Dubai Archives - Page 20 of 29 - LexisNexis Middle East

UAE: Implementation of Heavy Vehicle Weight and Dimension Regulations Postponed

21/02/202421/02/2024
by Tanya Jain

Arabian Business, 19 February 2024: The UAE’s Cabinet has announced it has issued a Decision postponing the implementation of Ministerial Decision No. 138/2023 (the heavy vehicle weight and dimension regulations).

It has asked the Energy and Infrastructure Ministry to extensively study its rationale for the decision.

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News developments

UAE: Circular on Rules for Deducting Loan Repayments From Pensions Issued

16/02/202416/02/2024
by Tanya Jain

Al Bayan, 12 February 2024: The UAE’s General Pensions and Social Security Authority has issued a circular to employers in the public and private sectors to highlight the rules for the deductions of pensions or end-of-service gratuities in line with Federal Decree-Law No. 57/2023.

The Circular states that deductions from the pension or end-of-service gratuity must only be limited to the Authority’s debt. The Authority therefore must not make any deductions in favour of any other debts, whether they were in the interest of the employer or alimony debts.

The Decision came into force on 9 February 2024.

For more information, click here .

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News developments

Dubai: International Financial Centre Announces Launch of Sustaining Family Business Success Programme

16/02/202416/02/2024
by Tanya Jain

Arabian Business, 12 February 2024: The Dubai International Financial Centre has announced the launch of a Sustaining Family Business Success Programme.

It has been launched together with the DIFC Academy and MIT Sloan Executive Education.

It will take place from 24 to 26 June and will provide family businesses with training on sustaining success across generations.

It is aimed at equipping family businesses with the knowledge and strategies needed to navigate opportunities and challenges as they expand regionally and globally.

They will earn a certificate from the MIT Sloan School of Management after completing the Programme.

The Programme has been developed around six pillars, including future vision, managing turbulence, governance, talent and succession and multigenerational success.

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News developments

UAE: Draft Emirates Council for Sharia Fatwa Law Approved

09/02/202409/02/2024
by Tanya Jain

Al Bayan, 31 January 2024: The UAE’s Federal National Council has approved a draft federal law regarding the Emirates Council for Sharia Fatwa.

It will organise the Emirates Council for Sharia Fatwa and grant it the necessary capabilities to organise fatwa affairs and consolidate the status of the fatwa in line with the national identity of the state locally and globally.

The draft law specifies various penalties which will be imposed on offenders.

These include a fine of between 10,000 AED and 200,000 AED for anyone who issues a general legal fatwa in the country on any of the issues and topics that concern the Council.

In addition, the facility may be closed and the website blocked.

The Court may also order the closure of the violating facility or institution or block the platform or website that published the fatwa in violation of the provisions of the law or the decisions issued to implement it.

For more information, click here .

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News developments

Dubai: Dubai Financial Services Authority Issues First ESG Fee Waiver

09/02/202409/02/2024
by Tanya Jain

The Dubai Financial Services Authority has announced it has issued the first ESG fee waiver.

It was issued to Emirates NBD Bank PJSC.

The Authority’s Chief Executive announced in December 2023 that it was going to waive all regulatory fees for issuers looking to list sustainability-related debt securities in the DIFC throughout 2024.

All new and repeat issuers who make a relevant application to the Authority are eligible.

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News developments

UAE: Financial Action Task Force to Remove UAE From Watchlist

05/02/202405/02/2024
by Tanya Jain

According to a specialist media outlet, the Financial Action Task Force is going to remove the UAE from its watchlist “within days”.

It will officially be removed from the grey list next month.

No further details were publicly available.

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News developments

Umm AlQuwain: Law on Reorganisation of Ummal Quwain Chamber of Commerce and Industry Issued

26/01/202426/01/2024
by Tanya Jain

Al Bayan, 19 January 2024: Ummal Quwain’s Ruler has issued Ummal Quwain Law No. 1/2024 on the reorganisation of the Ummal Quwain Chamber of Commerce and Industry.

Ummal Quwain Law No. 1/2007 regarding the Ummal Quwain Chamber of Commerce and Industry Law (as amended) will be repealed.

Any other legislation that conflicts with the Law will also be repealed.

The Law will be published in the Official Gazette and come into force on its publication date.

All relevant parties will be responsible for implementing it.

The Law has been issued to develop and consolidate the Emirate’s economic position.

It has also been issued to support the directions and vision of the Emirate by developing industries, developing new and promising sectors and attracting diverse investments, in a way that serves the economic environment in the Emirate.

To read full story, click here.

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News developments

UAE: Federal Law on Regulating Private and Public Sector Relations Issued

26/01/202426/01/2024
by Tanya Jain

Al Watan, 19 January 2024: The UAE’s Finance Ministry has announced it has issued Federal Law No. 12/2023, regulating partnerships between the federal public and private sectors.

It came into force on 1 December 2023.

It aims to regulate the partnership between the federal public sector and the private sector in the country and encourage the private sector to participate in development and strategic projects.

It also aims to increase investment in projects of economic, social and service value implemented by the federal public sector and enable the government to implement its strategic projects efficiently and effectively.

In addition, it aims to enable them to benefit from the financial, administrative, organisational, technical and technological capabilities and expertise available in the private sector.

To read the full story, click here.

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News developments

UAE: Income Tax Suggestion Rejected

25/01/202425/01/2024
by Tanya Jain

Oman Daily Observer, 24 January 2024: The Undersecretary to the UAE’s Finance Ministry has rejected suggestions that an income tax is going to be introduced.

The individual said individuals in the country won’t be taxed on their income any time soon.

They made the announcement during a meeting of the Undersecretaries of Finance Ministries in Arab countries.

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News developments

Lexis Middle East Law Alert: January/ February 2024 Edition

24/01/202424/01/2024
by Tanya Jain

Welcome to the January – February 2024 issue of Lexis Middle East Law Alert, where we provide a comprehensive examination of the latest legal developments shaping the region. In this edition, we explore key changes in maritime law, tourism legislation, landmark legal cases, and various sectors, offering valuable insights from legal experts and practitioners.

Keep yourself informed about the most recent legal, financial, and fiscal advancements, as well as trending subjects in the MENA region.

FEATURE: NAVIGATING A SEA CHANGE

Discover the substantial changes set to unfold in the shipping and trade landscape in the UAE as we delve into the implications of the recently issued Maritime Code. Ince & Co Middle East experts Mohamed El Hawawy, Natalie Jensen, and Mahmoud El-Sayed guide us through the transformative impact expected in March 2024.

FEATURE: DIRECTION OF TRAVEL

Ahmed Al Barwani of Al Tamimi & Company sheds light on the recent legislative changes in Oman’s tourist law, offering a detailed exploration of the evolving landscape within the country’s tourism sector.

FEATURE: CASE FOCUS

Our case focus zooms in on the intriguing legal battle between AC Network Holding Limited & Others and Polymath Ekar SPV1 & Others. Delve into the details of the case and explore the jurisdiction, court, and recommendations by Faridah Sarah of Ingmiresy Limited.

PROFILE: FROM REGIONAL TO GLOBAL

Read about Bethan Onions, a Global Legal Operations Leader at Arup, as she shares insights
on switching to a global focus and navigating legal operations on a global scale.

DISPUTE RESOLUTION FOCUS – CREDITOR’S RIGHTS

Waleed Hamad of Al Aidarous explores practical strategies to safeguard creditor’s rights in the face of asset disposal challenges in our Dispute Resolution Focus.

MOVERS AND SHAKERS

Check out our latest round-up of the top movers and shakers from the world of legal appointments and promotions, brought to you by Jameson Legal. Who is been promoted, who is been appointed, and who is moving on?

CONTRACT WATCH: ARBITRATION CLAUSES

Contributor Paul Taylor, Managing Partner at Eversheds Sutherland, discusses the common practice of using arbitration clauses in UAE construction contracts. Gain valuable insights into the pro-arbitration stance of UAE courts and the importance of clear and complete contractual dispute clauses.

LAW MONITOR

Explore the implications of a UAE Cabinet Decision on Real Beneficiary procedures in our Law Monitor section, offering a detailed analysis of the latest legal developments in the GCC.

Thanks to Jameson Legal for supporting individuals and businesses, and Al Aidarous for keeping us updated on dispute resolution cases.

Lexis Middle East Law Alert_January-February 2024

Explore the past editions of the Lexis® Middle East Law Alert and stay up-to-date with the latest news! Click the links below for instant access to older editions.

Lexis Middle East Law Alert January-February 2023

Lexis Middle East Law Alert March-April 2023

Lexis Middle East Law Alert_May June 2023

Lexis Middle East Law Alert_July August 2023

TAX AND FINANCE ROUND-UP

Get updated on the latest in tax and finance with our round-up, including a spotlight on DIFC Crypto Tokens. We provide an in-depth analysis of the significant developments influencing the financial landscape in the Middle East.

LEGAL ROUND-UP

Stay informed with our legal round-up, providing a comprehensive overview of recent developments across the region. Highlighting changes in the ADGM jurisdiction, we ensure you are up to speed on the latest legal landscape.

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