Dubai Archives - Page 27 of 30 - LexisNexis Middle East

UAE: Investment Ministry to be Established

05/07/202305/07/2023
by Tanya Jain

A new ministry is to be established in the UAE to develop the country’s investment vision, stimulate the investment environment internally, and enhance competitiveness

The new investment ministry will be headed by Mohamed Hassan Alsuwaidi. It will develop the country’s investment vision, boost prospects and enhance procedures and legislation in this area.

For the full story, click here.

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News developments

UAE: Final Deadline to Achieve Emiratisation Objectives Extended

22/06/202322/06/2023
by Tanya Jain

Alwatan, 13 June 2023: The UAE’s Ministry of Human Resources and Emiratisation has announced an extension of the deadline for private sector companies to achieve their midyear Emiratisation objectives.

The new deadline has been set for 7 July 2023.

Previously, companies in the private sector with 50 or more employees were required to meet these objectives by 30 June 2023. However, considering this deadline coincides with Eid, it has been extended to allow for sufficient time.

Starting from 8 July 2023, the Ministry will begin assessing the commitments of the relevant companies as outlined in the decision issued by the Council of Ministers. This extension provides private sector companies with additional time to work towards fulfilling their Emiratisation objectives and further promotes the goals of national workforce development and employment opportunities.

For the full story, click here.

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News developments

Dubai: Initiative to Facilitate Establishment of Digital Companies Launched

22/06/202322/06/2023
by Tanya Jain

Emaratalyoum, 13 June 2023: The Dubai Digital Economy Chamber has recently announced a new initiative aimed at enhancing and streamlining the establishment of digital companies in Dubai. The initiative also seeks to provide a range of new services to support technology companies, emerging businesses, and small to medium-sized multinational enterprises looking to launch their operations in Dubai.

As part of this initiative, the Chamber has signed a memorandum of agreements with several companies and establishments which will exclusively offer discounted rates and special offers to participants in the program. These services encompass licensing services, banking solutions, office spaces, and cloud services.

For the full story, click here.

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

UAE: Fees Exemption Announced for Companies Listing Green Bonds

14/06/202314/06/2023
by Tanya Jain

Sharjah 24, 7 June 2023: The Board of Directors of the UAE’s Securities and Commodities Authority has given its approval to a proposal which grants an exemption from certain fees for companies seeking to list their green bonds and sukuks in the local markets.

According to the decision, companies wishing to register green bonds or bonds related to sustainability will be exempt from paying registration fees for the year 2023.

The purpose of this initiative is to showcase the state’s commitment to achieving sustainable development across multiple fronts, particularly in terms of fostering sustainable economic growth.

For the full story, click here.

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News developments

UAE: Virtual Workshops Platforms for Companies Tax Launched

07/06/202307/06/2023
by Tanya Jain

Albayan, 4 June 2023: The Federal Tax Authority has introduced an educational platform called “Companies Tax” to provide ongoing knowledge support to taxpayers. This initiative is part of the procedures being implemented to enforce the Federal Decree Law on Companies and Business Tax.

The law is applicable to financial years starting on or after 1 June 2023 and is aimed at enhancing the UAE’s position as an international hub for investment and entrepreneurship, as well as ensuring compliance with international standards for tax transparency.

The platform features 13 seminars conducted in both English and Arabic, remotely scheduled throughout the month of June, focusing on the registration process for this tax.

For the full story, click here.

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

Dubai: New System for Licensing and Regulating Buildings Launched

01/06/202301/06/2023
by Tanya Jain

Emaratalyoum, 26 May 2023: Dubai Municipality has introduced a novel electronic system for the licensing and supervision of buildings. This system has been specifically developed to cater to customer needs by reducing the time required for completing procedures and meeting the requirements of the new building code.

The Director-General of Dubai Municipality has highlighted the system incorporates several advantages and advanced digital functionalities aimed at enhancing the customer experience while reducing both time and costs.

Furthermore, the system will offer the utilisation of Building Information Modelling, enabling users to generate 3D templates and digital representations depicting the physical and functional attributes of the buildings.
For the full story, click here.

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News developments

May/June 2023 edition of Lexis Middle East Law Alert Now Out!

26/05/202330/05/2023
by Tanya Jain

Introducing the latest edition of our complimentary law magazine, the Lexis® Middle East – Law Alert! Stay up-to-date on the latest legal, financial, and fiscal developments and hot topics in the MENA region.

In this edition, we examine why amendments to Saudi Arabia’s personal data regime were needed and what might be their impact, recent legal and tax developments, virtual asset regulations, and more.

Feature: What’s Different with Data? Amendments to the Saudi Personal Data Protection Law

Nick O’Connell, Partner, Digital & Data, Al Tamimi & Co explains why amendments to Saudi Arabia’s personal data regime were needed and what might be their impact.

Legal Round-Up: Covering Recent Key Legal Developments (Region-Wide)

Stay up-to-date with the latest legal developments in the region! Our legal round-up includes all the essential news so that you can stay well-informed.

Tax and Finance Round-Up: Covering Recent Key Tax and Finance Developments (Region-Wide)

Stay up-to-date on the key developments from the region and never miss out on the latest happenings.

Feature: Nothing to Hide – The Qatari Anti-concealment Law

Omar Qouteshat of Sultan Al Abdulla & Partners explains results the impact the Qatar Anti-Concealment Law can have when non-Qataris are engaged in commercial activities there.

In-House Profile: Talent and Energy

Elizabeth Dunne Chandler Legal and Commercial Director – Middle East, UK and Europe NES Fircroft explains how the switch to renewable energy is impacting her work and making cross-border employment legislation more important.

Practitioner Perspective:

Thomas Wigley of Trowers and Hamlin looks at the practicalities of bringing foreigner experts into Oman. And sheds light on the implementation of Oman Sultani Decree No. 35/2003 On the Promulgation of the Labour Law provides the framework for private sector employment in Oman.

Movers & Shakers: A Round-Up of the Top Appointments and Promotions

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’s been promoted, who’s been appointed and who’s moving on? Find out now!

Dispute Resolution Focus: Cases and Updates

Hashem AlAidarous, Partner at Al Aidarous, qualified in three jurisdictions, explains
the differences between dispute resolution in the UAE, the US and Australia.

Contract Watch: Is It Asymmetric?

Aleefa Ahmed, from Associate Afridi & Angell, explains asymmetric jurisdiction clauses (or unilateral option clauses) for parties bringing their proceedings in front of a jurisdiction and what options are available for them.

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

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Lexis Middle East Law Alert May-June 2023

Lexis Middle East Law Alert January-February 2023

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 October-November 2022

Lexis Middle East Law Alert_July-August 2022

News developments

Dubai: Electricity and Water Conservation Measures Handbook Issued

25/07/202125/07/2021
by Benjamin Filaferro

Dubai’s Electricity and Water Authority has announced it has issued an Electricity and Water Conservation Measure Handbook.

It is aimed at informing residential, commercial, industrial and Government customers about technologies and systems to reduce their electricity and water use.

It is part of the Authority’s efforts to boost sustainability and improve customer and societal engagement.

It highlights various modern technologies to conserve electricity and water consumption for various types of buildings. It covers adding or replacing existing equipment and control measures to increase the efficiency of buildings and retrofitting them. These include air conditioning and cooling systems, lighting systems, water-saving fixtures, as well as building control systems to improve the operation of equipment.

It also presents expected savings as a result of implementing conservation measures. It also includes useful links and additional tips for customers to learn about further technologies to conserve electricity and water in their buildings.

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

Dubai: Arabtec Trustees Appointed

21/06/202121/06/2021
by Benjamin Filaferro

Gulf News (United Arab Emirates), 21 June 2021: Dubai’s Court of First Instance has appointed trustees for each of the Arabtec Group companies facing liquidation.

They have accepted the petition to open bankruptcy proceedings for Arabtec Holding and its subsidiaries including Arabtec Construction LLC, Austrian Arabian Readymix Concrete Co, Arabtec Precast,. Arabtec Constructions LLC, Emirates Falcon Electromechanical Co.; and another entity under the same title and Emirates Falcon Electromechanical Co.

They will review the accumulated debts and create a record of all creditors.

Each trustee overseeing an Arabtec Group entity facing liquidation has to submit a request to the court on the contractual and legal interests.

They have to prepare an initial separate report on the assets of each entity and its rights with third-parties. They must also list all managers and members of the board of directors and shareholders for the two years preceding the bankruptcy application. In addition, they have to submit their opinion on the management and the preservation of the company’s assets.

The Court have also stated all procedures in Federal Decree-Law No. 9/2016 (the Bankruptcy Law) must be completed within 35 days from the date of the trustee appointment notification.

Initial reports from the trustees have to be handed in within two weeks.

The announcement paves the way for the liquidation of the UAE’s biggest construction company and will also be the benchmark for future proceedings under the country’s recently amended Bankruptcy Law.

In addition, the Court has stayed all judicial procedures and execution procedures on the companies’ assets until a restructuring plan is approved or for 10 months from the date of the decision to open the bankruptcy proceedings.

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

Dubai: Government Regulations Must be Cut by 30%

13/06/202113/06/2021
by Benjamin Filaferro

Gulf News (United Arab Emirates), 9 June 2021: Dubai’s Crown Prince and Executive Council Chairman has issued instructions for Government regulations to be cut by 30% by September.

The aim is to make it easier to do business in the Emirate.

The instructions have been issued in line with the UAE’s Vice- President and Prime Minister and Dubai Ruler’s goal to support the private sector in the Emirate by simplifying procedures to boost the Emirate’s competitiveness and increase its attractiveness to investors.

They also want to enable businesses to grow in the Emirate.

Also reported in Emaratalyoum on 9 June 2021. For full story see https://www.emaratalyoum.com/local-section/other/2021-06-09-1.1499948.

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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