12/03/2020
Bahrain, Israel Ink New Cooperation Agreements
The Israeli Economy Minister, Amir Peretz, attended the ceremony at the Waldorf Astoria Jerusalem in Jerusalem.
Legal, Tax, Regulation & Compliance
12/03/2020
The UAE’s Wages Protection System (WPS) explained
How WPS ensures timely payment of salaries and what you can do in case of delays
12/02/2020
Legal Advisors and Baker McKenzie advise on Gulf Insurance Group's acquisition of AXA's Middle East insurance business
This transaction is the latest example of Baker McKenzie's cross-border transactional deals in the Middle East.
12/02/2020
UAE Sets Up Special Courts to Combat Money Laundering
During the meeting, Al-Dhaheri said 200 law firms in the UAE had failed to comply with anti-money laundering procedures and were suspended from practicing for one month.
12/02/2020
Lebanon central bank can keep subsidies for only two more months, says governor
A meltdown without precedent has crashed Lebanon's currency and paralyzed banks
12/02/2020
QFC is ideal entryway for US firms to access Qatar innovation ecosystem: Al-Jaida
Given Qatar’s fast-paced economy, there is a great potential for US companies to set up operations here, especially since Qatar is on track for more growth leading up to the FIFA World Cup 2022, and beyond.
12/02/2020
The UAE Recalibrates its Foreign Direct Investment Framework with 100% Foreign Ownership and Other Landmark Changes to its Commercial Companies Law
In the past year, the UAE has recognized exceptions for the relaxation of the local shareholding requirement in certain sectors.
12/01/2020
Climate change - The low-carbon transition
These policy shifts will drive major changes in business across entire value chains from product design to production, distribution and recycling.
12/01/2020
Investors in GCC Bank Additional Tier 1 Capital Face Contrasting Prospects
It also affects investors’ liquidity and investment strategy, as typically investors expect their AT1 to be called on the first call date.
12/01/2020
Saudi Central Bank extends loan deferral programme
The extension until the end of the first quarter of 2021 impacts 77bn riyals worth of loans
12/01/2020
Al Baraka Banking Group EGM approves initiation of the license conversion of its Bahrain-based parent company
The meeting, which took place virtually, was presided over by the ABG's Chairman, Shaikh Abdullah Saleh Kamel, and attended by members of its Board of Directors, senior executive management, representative of the Unified Shari'a Supervisory Boar
12/01/2020
PwC helps Saudi government with water privatisation initiative
With its crucial position in Saudi economy and Vision 2030, the government decided to reorganise the water production segement.
12/01/2020
Gulf regulators must clarify their cross-border responsibilities
Better due diligence and oversight is needed as the pandemic takes its toll
11/30/2020
UAE foreign ownership and investment laws reformed
The decree brings a number of changes to company law in the UAE, most of which apply to provisions for limited liability and joint stock companies.
11/30/2020
Employment regulations in the Abu Dhabi Global Market
We set out below the main employment law themes that senior management teams, HR managers and in-house legal teams need to be aware of under the ADGM Employment Law:
11/30/2020
Bahrain awards US $2.7 billion worth of contracts in first nine months of 2020
Robust figures come despite the debilitating impact of COVID-19 on the global economy
11/27/2020
Top US consultancy withdraws from 'crucial' central bank work
The pegging was managed by the central bank borrowing from private banks, who depended on depositors attracted by huge interest rates of up to 14%.
11/27/2020
Banque Misr, NBE acquire 40% of stocks of Western Union's representative in Egypt
Chairman of the National Bank of Egypt Hisham Okasha said that the move comes within the bank’s efforts to merge customers targeted into the banking sector as well as using official means for transferring funds in order to increase the flow of forei
11/27/2020
Egypt’s central bank issues LE 21B on T-bills Thursday
Egypt's 2020/2021 draft budget aims to reduce public debt of GDP to 82.7 percent by end of June 2021, up from earlier target of 82.5 percent by the end of June 2020 and to 77.5 percent by the end of June 2022.
11/27/2020
Egypt to Issue First Sovereign Islamic Sukuk
Generally known by their Arabic name, sukuk are financial products compliant with Shari’a law.