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Legal, Tax, Regulation & Compliance

10/23/2020

Saudi Arabia Partners With the World Bank to Ensure No Nation Is Left Behind on AI

The partnership will support target nations to identify gaps in their own readiness and ability to utilize AI and data and develop their own AI policies for innovation and acceleration of AI based on sustainable development goals.

10/23/2020

Lebanon follows McKinsey advice and legalises cannabis farming

The parliament has legalised cannabis farming for medicinal and industrial use, with the specific objective of exporting the crop to foreign markets.

10/23/2020

UAE's revised Bankruptcy Law extends valuable 12 months to struggling businesses

Businesses won't have funds cut off and in some cases can tap new financing

10/23/2020

Getting tax submissions wrong now come with a much stiffer penalty in UAE

Supreme Court ruling to have significant impact on reporting of tax dues and on penalties

10/23/2020

UAE to impose new rules on mandatory reserves for financial institutions - state media

The banks will have to ensure they meet the daily average requirements over a 14-day reserve maintenance period.

10/22/2020

IPA Qatar signs tie-up agreement with NYSE-listed Palantir Technologies

Palantir Technologies will support Qatar’s digital transformation across sectors and seek to expand its market presence and activities in Qatar.

10/22/2020

COVID-19: UAE Cabinet approves amendments to bankruptcy law

Move aims to provide legal mechanism for debtors to be able to fulfil obligations

10/22/2020

Clyde & Co advises QTerminals on its acquisition of Akdeniz Port in Turkey

Clyde & Co acted as international deal counsel and collaborated with Turkish counsel Kolcuoglu Demirkan Koçaklı (KDK) to represent QTerminals at all stages of the transaction, including drafting and negotiating the key transactional documents

10/22/2020

The General Assembly of First Abu Dhabi Bank agrees to transfer...

This step is part of the vision that brings together the two institutions, which are based in the Emirate of Abu Dhabi, with the aim of supporting the ambitions of the UAE government for digital transformation in the long term.

10/22/2020

SHUAA Capital prices US$150 million bond issuance

The issuance will see SHUAA raise the full US$150 million approved by shareholders at a General Assembly of the company held on 14th October.

10/22/2020

Survival of the fittest UAE advisers

Revenues set to take a big hit as new commission structure now in effect

10/22/2020

Hong Kong fines Goldman Sachs record $350m over 1MDB

The 1MDB bond offerings were arranged and underwritten by Goldman Sachs International,

10/21/2020

UAE, Arab Monetary Fund sign deal to enhance economic integration

Under the agreement, the UAE will create the legal framework and provide the necessary benefits and immunities for the corporation to enable it to efficiently perform its role, as well as to generate regional integration opportunities.

10/20/2020

Global trade faces $18trln hit by 2030

The protectionist trade policies that emerged even before the Trump administration will continue to define trade landscape of 2020

10/20/2020

New UAE wealth management law a welcome game changer

The new law, which creates a legislative framework for businesses passed on to the second or third generations and are often in danger of collapse, goes a long way to allaying my concerns.

10/20/2020

Oman, in talks for Gulf aid, plans three-part bond

Oman has begun talks with some Gulf countries for financial support, according to a bond prospectus dated Oct. 19.

10/20/2020

8 types of fraud to watch out for in the UAE

Fraudsters implement social engineering tactics to separate you from your money

10/19/2020

ADGM and Companies House Gibraltar partner to bolster respective registration functions

MoU to facilitate development of ADGM and CHG registration functions

10/19/2020

EBRD extends funds to Turkey’s Alternatif Bank

The new loan will enable Alternatif Bank to continue lending to Turkish businesses and will help to counter the impact of the coronavirus outbreak on the economy.”

10/16/2020

Between acquisition and expansion Journey of Gulf banks in Egypt

This is in addition to previous attempts by First Abu Dhabi Bank to acquire Bank Audi Egypt, but the Corona pandemic led to the suspension of negotiations.

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