UAE Archives - Page 50 of 94 - LexisNexis Middle East

UAE: Employers Must Pay End-of-Service Rewards to Assistant Workers

15/11/202215/11/2022
by Benjamin Filaferro

Emaratalyoum, 13 November 2022: The UAE’s Human Resources and Emiratisation Ministry has confirmed that employers are required to pay end-of-year service rewards to assistant domestic workers at a rate of 14 days’ salary for each year of service.

The employee is entitled to the reward provided they have completed a year or more of service with their employer, and the sum will be paid once the contract or work relationship finishes.

The ministry also confirmed that the 19 professions within the scope of domestic service employment include sailor, guard, farmer, driver, and private trainer.

For the full story, click here.

To view more news items and other available content, visit lexis.ae/demo to book a demo and start your free trial of Lexis® Middle East trial lexis.ae/demo to book a demo and start your free trial of Lexis® Middle East.

Want to learn more about Lexis® Middle East? Visit, https://www.lexis.ae/lexis-middle-east-law/.

News developments

UAE: ADGM – Consultation Paper on a Comprehensive Sustainable Finance Regulatory Framework

14/11/202214/11/2022
by Benjamin Filaferro

Analysis

The ADGM has published a Consultation Paper on a proposed comprehensive Sustainable Finance Regulatory Framework, covering rules on sustainability-orientated investment funds, managed portfolios and bonds, and a framework on environmental disclosures by ADGM companies.

Details

The aim is to enable accelerated growth of a sustainable finance ecosystem in the jurisdiction and support the UAE’s transition to net zero greenhouse gas emissions.

This proposed, comprehensive regulatory framework will build upon ADGM’s efforts to foster a vibrant and thriving sustainable finance hub within its jurisdiction. The proposed framework will establish minimum standards for a wide range of sustainability-orientated investment products and services to facilitate this. ADGM believes that setting such standards will help to nurture transparency and investor confidence in the green credentials of those products and services and advance ADGM’s drive to become a leading centre of sustainable finance.

The proposals encompass:

The region’s first regulatory framework for green investment funds to channel capital towards environmentally sustainable activities.
An innovative regulatory framework for climate transition investment funds to channel capital to assets and entities on a path to reducing their greenhouse gas emissions.
A regulatory framework for green and climate transition discretionary portfolio management services.
A regulatory framework for green bonds and sustainability-linked bonds offered in ADGM.
Building upon ADGM’s existing disclosure requirements to create the region’s most comprehensive environmental, social and governance (ESG) disclosures framework, to now cover disclosure by listed companies, regulated financial services firms and large private commercial entities.

In addition to proposing a framework for companies to undertake ESG disclosures, It is also in the process of facilitating through its regulatory framework the establishment of the world’s first regulated voluntary carbon exchange and clearing house, where carbon offsets (Environmental Instruments), while traded and settled as Spot Commodities, are treated as regulated Financial Instruments within ADGM.

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.

Want to learn more about Lexis® Middle East? Visit, https://www.lexis.ae/lexis-middle-east-law/.

News developments

UAE: Climate Neutrality Adopted in Aviation Sector

09/11/202209/11/2022
by Benjamin Filaferro

Albayan, 7 November 2022: The UAE’s General Civil Aviation Authority has announced the adoption of a climate neutrality strategy for the country’s aviation sector, paving the way for other relevant sectors to plan their own plans to reach climate neutrality by 2050.

The aviation sector’s climate neutrality team will develop an integrated methodology and action plan to implement the strategy.

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.

Want to learn more about Lexis® Middle East? Visit, https://www.lexis.ae/lexis-middle-east-law/.

News developments

UAE: All Coronavirus Restrictions Scrapped

08/11/202208/11/2022
by Benjamin Filaferro

Albayan, 7 November 2022: The UAE’s National Emergency Crisis and Disaster Management Authority has announced that all restrictions and precautionary measures relating to the coronavirus will be scrapped, effective from 7 November 2022.

The wearing of masks will continue to be mandatory in health facilities but is now optional in all other open and closed facilities.

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.

Want to learn more about Lexis® Middle East? Visit, https://www.lexis.ae/lexis-middle-east-law/.

News developments

Dubai: Crypto Token Regime Comes into Force

02/11/202202/11/2022
by Benjamin Filaferro

1 November 2022: The Dubai Financial Services Authority has announced that its Crypto Token regime has come into force to encourage responsible and transparent innovation while meeting regulatory requirements.

The regime addresses risks relating to consumer protection, market integrity, custody and financial resources for service providers. It also covers risks relating to trading, clearing, holding or transferring Crypto Tokens.

Further information on the regime can be found here.

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.

Want to learn more about Lexis® Middle East? Visit, https://www.lexis.ae/lexis-middle-east-law/.

News developments

Dubai: Clean Energy Now 12.8% of Total Capacity

02/11/202202/11/2022
by Benjamin Filaferro

Emirates News Agency, 1 November 2022: The head of Dubai’s Electricity and Water Authority has announced the addition of 300 megawatts (MW) of photovoltaic solar energy in 2022, bringing the share of clean energy to 12.8% of the total installed capacity.

The increase in solar capacity was from the 5th phase of the Mohammed bin Rashid Al Maktoum Solar Park, which aims to have a production capacity of 5,000 MW by 2030.

When completed, the project will have the world’s largest thermal storage capacity of 15 hours, bringing around the clock energy availability.

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.

Want to learn more about Lexis® Middle East? Visit, https://www.lexis.ae/lexis-middle-east-law/.

News developments

UAE’s National Bonds investment company has announced a new ‘Golden Pension’ scheme

17/10/202217/10/2022
by Benjamin Filaferro

Khaleej Times, 13th October 2022: UAE’s National Bonds investment company has announced a new ‘Golden Pension’ scheme allowing private sector employees to contribute as little as Dh 100 a month in addition to the gratuity provided by their employer.
The scheme allowing employees to earn a profit on the amount they save is part of a drive to support companies with employee retention. It aims to help 89% of the UAE’s population that is expats with retirement planning.
Expats whose employers have signed up with National Bonds may sign up for the scheme.
Sukuks (savings bonds) will be issued under the employees’ accounts with National Bonds based on the allocation provided by the company of the contributed funds. The Sukuk may only be redeemed at the company’s request.

For the full story, click here.

Want to learn more about Lexis® Middle East? Visit, https://www.lexis.ae/lexis-middle-east-law/.

News developments

UAE Introduces Emergency Travel Document E-Services for Emiratis

13/10/202213/10/2022
by Benjamin Filaferro

Arab News, 11 October 2022: The UAE has rolled out a new service allowing Emirati travellers returning from abroad to enable them to obtain emergency travel documents if their passports have expired or have been lost.
The ‘e-return document’ platform allows travellers to obtain a return document in less than 30 minutes and provides documentary support for newborns.
Emirati travellers can apply for this service on the Ministry of Foreign Affairs and International Cooperation’s website.

For the full story, click here.

Want to learn more about Lexis® Middle East? Visit, https://www.lexis.ae/lexis-middle-east-law/.

News developments

The latest edition of the Lexis® Middle East – Law Alert is out now!

11/10/202212/10/2022
by Benjamin Filaferro

We are pleased to share the latest edition of our law magazine, the Lexis® Middle East – Law Alert!

The Law Alert is a complimentary magazine that keeps readers updated on the MENA region’s legal, financial and fiscal developments and hot topics.

In this edition:

Welcome Change: Saudi Arabia’s new Companies Law

A new Saudi Companies law has brought changes and innovations which, as Edoardo Betto and Thamer Alzayer of Hourani & Partners explain, look likely to support the Kingdom’s booming venture capital market.

Firm Foundation: Real estate developments in the UAE

Two new laws have been issued in Dubai to support real estate investment; Mohammed Kawasmi of Al Tamimi & Company looks at their impact and other recent changes to real estate regulations there.

In-House Profile: All Change

Sultan AlJadeed, Director of Legal Affairs of Hungerstation talks about what it is like working in an industry where having a fast response to regulatory change is critical.

On the other hand, Taha H Tawawala of Amer Al Marzooqi Advocates & Legal Consultants LLC-SO examines how the regulatory landscape is changing for delivery companies like Mrsool, Jahez and Hungerstation.

Focus on Funding

With third-party funding gaining pace, there has been a remarkable increase in the number of institutions prepared to finance arbitrations. Ritambhara Singh, Amira Salah, and Sriranjini Garegrat of Al Moayed Chambers explore the position of third-party funding in Bahrain.

Contract Watch: Sub-leasing Contracts

Gerry Rogers of Galadari Advocates & Legal Consultants explores the critical considerations concerning leasing and property laws in the UAE.

We thank Aurifer Middle East Tax for keeping their finger on the pulse of tax developments across the region and Jameson Legal for supporting movers and shakers across the region.

Thanks also to the dynamic team at Wasel & Wasel Arbitrator Services Inc. for flying the flag for arbitrators.

Want to receive more content? Subscribe to our newsletter here!

Want to learn more about Lexis® Middle East? Visit, https://www.lexis.ae/lexis-middle-east-law/.

Lexis Middle East Law Alert October-November 2022

Have you read the Lexis® Middle East Law Alert – July/August 2022 edition? Click the link below to access and read this edition.

Lexis Middle East Law Alert_July-August 2022

News developments

The latest edition of the Lexis® Middle East – HR Alert is out now!

11/10/202229/04/2024
by Benjamin Filaferro

We are pleased to share the latest edition of our HR magazine, the Lexis® Middle East – HR Alert!

The HR Alert is a complimentary magazine that updates the latest labour and employment law developments and cases and advises on region-specific HR policies and templates.

It will also include interviews with leading regional HR professionals and guidance on the latest industry trends. In this edition:

When the Heat is on!

With the Qatar Ministry of Labour and Public Health Department issuing new guidelines on heat stress, Emma Higham and Corrine Sobers of Clyde & Co explain what employers in Qatar need to do to comply with the law on working in the heat.

Don’t Bank on It

Damian Burleigh of Acuity Knowledge Partners examines outsourcing in the Middle East and how it affects regional banks.

Law Changes: Whose Right Is It Anyway?

Who has copyright rights when an employer/employee relationship or employer/freelancer is involved? Noor Hasan of Gowling WLG examines the fundamental rules.

Saudisation

Nadia Malaika, HR Director for Saudia Dairy & Foodstuff Company (SADAFCO), talks about the importance of Saudisation in their sector and its implementation.

On the other hand, Anas A Akel of Hourani & Partners talks about specific Saudisation challenges and opportunities in the manufacturing sector.

Social Media Policies

Rana Moustafa of D&C Legal Services shares pointers for getting a well-drafted social media policy in place to protect employers and ensure employees better interact with these platforms.

Want to receive future editions? Subscribe here!

Want to learn more about Lexis® Middle East? Visit, https://www.lexis.ae/lexis-middle-east-law/.

LexisNexis Middle East HR Alert – September 2022