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.
11/27/2020
The federation's latest plan includes a follow-up on alternative workplaces to allow departments to continue working in cases of forced interruption.
11/27/2020
Experts' panel finds in favour of Omar Ayesh, who built one of the tallest towers in Dubai
11/26/2020
Governor of the Central Bank of the UAE commenced the meeting by recognizing and thanking all CEO's and their staff
11/26/2020
The policy further stipulates that while exemptions may be made, subject to the QFC Authority’s absolute discretion
11/26/2020
Banking regulator repeals asset-ratio rule at the end of 2020
11/26/2020
The new regulation will give banks more room for lira and currency liquidity management.
11/26/2020
He said the trade between both countries has increased by 136 percent from $908m in 2016 to $2.2bn in 2019, while it hit $1.2bn in first half of 2020.
11/26/2020
Beyond policy measures, most public sector organisations have been instructed to find ways to cut costs and rationalise spending.
11/26/2020
Move will help ‘weed out the unscrupulous elements who bring ill-repute to professional advisers’
11/25/2020
QFCRA starts legal action in New York to enforce judgment against First Abu Dhabi Bank
It added that the action arises from FAB’s obstruction of an investigation conducted by the QFCRA and the lack of integrity demonstrated by FAB as a firm conducting business in the QFC.
11/25/2020
Saudi King approves renaming Saudi Arabian Monetary Authority to Saudi Central Bank
Saudi Arabia, the world’s biggest oil exporter, pegs its riyal currency to the dollar at 3.75 per one U.S dollar, a rate unchanged since 1986.
11/25/2020
UAE- Register hawala business by Dec 2 or face the law
Hawala, also known as hundi, is a process whereby money value is transferred to individuals in other countries, and is usually used in the remote places of those countries, which do not have access to banking services.
11/24/2020
The timing of the Saudi Arabia G20 2020 Presidency offers a unique moment for the world and the Kingdom.