UAE Archives - Page 65 of 93 - LexisNexis Middle East

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.

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

News developments

UAE: Central Bank Introduces Whistleblowing Portal

08/06/202108/06/2021
by Benjamin Filaferro

The UAE’s Central Bank has announced it has launched a new whistleblowing portal to allow internal and external stakeholders to anonymously raise any concerns related to misconduct or policy violations by Central Bank employees, contractors and representatives.

It will allow employees and external stakeholders, like financial institutions, vendors and the public, to voice their concerns around misconduct without fear of reprisal.

It also allows comprehensive information around a relevant concern to be shared. This will include the attachment of files and documents in support of a particular claim.

It has been introduced as part of the Bank’s implementation of its Code of Conduct.

It aims to address alleged illegal and unethical practices by taking the necessary action in a timely way.

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: Utico to Issue Region’s First Utilities Sustainability Sukuk

07/06/202107/06/2021
by Benjamin Filaferro

Oman Daily Observer, 3 June 2021: Dubai-based Utico has announced it is going to issue the region’s first utilities sustainability Sukuk.

It follows the company being given an international sustainability rating for its benchmark Sukuk from DNV UK.

It will be the first Sustainability Private Corporate Sukuk of its kind in the region and will be issued in the next few weeks.

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: Conditions for Financial Activity Licenses Being Revoked Announced

27/05/202127/05/2021
by Benjamin Filaferro

Mubasher, 26 May 2021: The UAE’s Securities and Commodities Authority has announced the conditions for financial activity licenses being revoked.

The license will be revoked if the company violates its obligations or engages in a bankruptcy case before the courts.

A license will also be revoked if the company fails to engage in a financial activity within six months of receiving the license. For 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: Anti-tax Evasion Plan Approved

27/05/202127/05/2021
by Benjamin Filaferro

The UAE’s Economic Integration Committee of the UAE has approved an anti-tax evasion plan.

It will involve collecting the data of ultimate beneficial owners. These individuals own 25% directly or indirectly of a company’s capital.

It will include a flexible plan and is aimed at obtaining data on beneficial owners of over 400,000 companies registered in the UAE and an action plan to tackle tax evasion.

It follows the issuing of Cabinet Decision No. 57/2020 last year.

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: Dubai Airport Free Zone Signs Cooperation Agreement with Securities and Commodifies Authority

23/05/202123/05/2021
by Benjamin Filaferro

Arab News, 19 May 2021: The Dubai Airport Free Zone Authority has signed a cooperation agreement with the UAE’s Securities and Commodities Authority to allow crypto asset companies to obtain a business license in the Free Zone.

It will allow the regulation, offering, issuing, listing and trading of crypto assets in the Free Zone.

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: Foreign Ownership Changes to Come Into Force Next Month

23/05/202123/05/2021
by Benjamin Filaferro

The National, 19 May 2021: The UAE Government has announced foreign ownership changes will come into force on 1 June.

The changes will allow 100% of UAE companies to be owned by foreign entities.

The changes were first announced in late 2020.

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: Judicial Authorities Law Amended

18/05/202118/05/2021
by Benjamin Filaferro

Dubai’s Ruler has issued Dubai Law No. 11/2021 amending the Emirate’s Judicial Authorities Law.

The original law is contained in Dubai Law No. 13/2016.

Under the new Law, the Secretariat General of the Dubai Judicial Council will be responsible for providing the administrative services, information, statistics and research required by the Council to carry out its functions and responsibilities. The Secretary General of the Council will be appointed by a Decree issued by the Ruler.

It also states the Secretary General of the Council will be responsible for appointing and supervising the activities of the Secretariat General’s team and the Chairman of the Judicial Council will be responsible for defining the functions and responsibilities of the Secretariat General.

It will be published in the Official Gazette and come into force on its issued date.

They also approved Dubai Decree No. 21/2021 appointing Dr Saif Ghanem Al Suwaidi from Dubai Police as the Secretary General of the Dubai Judicial Council. It repeals Dubai Decree No. 7/2014 on the Secretary General of Dubai Judicial Council and any other legislation which contradicts or contravenes it.

It will be published in the Official Gazette and come into force on its issued date.

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: Safe Travel Corridor for Vaccinated Travellers with Bahrain Approved

12/05/202112/05/2021
by Benjamin Filaferro

Alroeya, 10 May 2021: The UAE has approved a safe travel corridor for vaccinated travellers with Bahrain.

It will allow individuals to travel between the two countries from the first day of Eid al-Fitr without having to self-isolate.

They will have to comply with the relevant anti-Coronavirus measures in the destination country.

They have recently been updated to ensure safer travel for everyone.

Citizens and residents who want to utilise the isolation exemption in both countries will have to provide evidence that they have received the full dose of the Coronavirus vaccine through approved applications and certificates. This is the Al Hosn application in the UAE and the BeAware Bahrain application in Bahrain.

Passengers can also save their PCR test results on the two applications.

For full story see https://www.alroeya.com/173-76/2217723-%D8%A7%D8%B9%D8%AA%D9%85%D8%A7%D8%AF-%D9%85%D9%85%D8%B1-%D8%B3%D9%81%D8%B1-%D8%A2%D9%85%D9%86-%D8%A8%D9%8A%D9%86-%D8%A7%D9%84%D8%A5%D9%85%D8%A7%D8%B1%D8%A7%D8%AA-%D9%88%D8%A7%D9%84%D8%A8%D8%AD%D8%B1%D9%8A%D9%86-%D9%84%D9%84%D8%AD%D8%A7%D8%B5%D9%84%D9%8A%D9%86-%D8%B9%D9%84%D9%89-%D9%84%D9%82%D8%A7%D8%AD-%D9%83%D9%88%D9%81%D9%8A%D8%AF-19.

Additional reporting from Emirates News Agency.

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: No Weekend Changes Announced

09/05/202109/05/2021
by Benjamin Filaferro

Gulf News (United Arab Emirates), 6 May 2021: The UAE’s authorities have announced no weekend changes have been approved.

They were responding to rumours on social media.

They suggested the weekend was going to be changed from Friday and Saturday to Saturday and Sunday.

They also dismissed rumours employees in Government and Federal departments will have to work 12 hours a day on Fridays.

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/.