05/29/2020
Directors' duties and UAE corporate bankruptcy
Directors and managers should ensure they are clear on their responsibilities under the applicable insolvency regimes in order to avoid claims of mismanagement and liability.
Legal, Tax, Regulation & Compliance
05/29/2020
Lebanon removes banking secrecy rules to fight corruption
The move opens the way for investigations into bank accounts of current and former officials such as Cabinet ministers
05/29/2020
Beirut’s bank chief comes under fire over crisis
Protesters blame central bank governor for taking Lebanon close to bankruptcy
05/29/2020
Banks in Saudi, emerging markets will see spike in bad loans- S&P
Lenders with exposure to SMEs, retail, real estate to see biggest impact
05/28/2020
Legal fraternity in Qatar advocate increased Pro Bono hours to keep businesses afloat
Recently, Qatar International Court and Dispute Resolution Center offered Pro Bono services to spearhead the delivery of swift, fair, and efficient judgments as part of an innovative legal model for commercial and civil dispute resolution.
05/28/2020
Egyptian government prepares new economic stimulus package
The government is already providing aid to several of the commercial sectors most affected by the pandemic
05/28/2020
Kuwait MP set to grill finance minister over fund corruption
The corruption case involves a Malaysian Fund and a Chinese company
05/28/2020
OECD recognises UAE's efforts in fighting coronavirus
The commendation followed an ongoing analysis issued by the organisation about the possible impact of the Covid-19 outbreak on countries
05/28/2020
Union Properties subsidiary announces $408.4m legal figh
Company is taking action for construction works completed around ten years ago
05/27/2020
Qatar achieves self-sufficiency in essential products; supply chain well diversified: KPMG
Retail malls are facing difficulties as the countermeasures of the pandemic has led to closure of all stores
05/27/2020
Remittances from UAE to drop
The World Bank has predicted that, globally, remittances would decline sharply by about 20% in 2020
05/27/2020
Emirates NBD transforms property rental with finance program
While landlords can benefit from receiving the entire rental amount for the year upfront offering access to improved cash flows.
05/27/2020
We’ll beat this: Crown prince vows Saudi Arabia will overcome virus pandemic
The Kingdom celebrated the first two days of Eid under a 24-hour lockdown to curb the spread of COVID-19, but restrictions will be eased from Thursday, Health Minister Dr. Tawfiq Al-Rabiah said on Monday.
05/26/2020
Lebanon's government welcomes banks' input in rescue plan
The government will continue engaging with the association and its advisers to seek solutions to the crisis, it added.
05/26/2020
UAE Exchange starts issuing refunds – report
UAE Exchange, which operates more than 100 branches across the country, stopped all transactions in March
05/26/2020
FAM Properties responds to Damac legal claims
The dispute began when the developer received complaints from clients about e-mails sent to them by FAM Properties
05/26/2020
Mashreq provides help to a quarter of its retail clients through Covid-19 scheme
The lender says most requests are for payment holidays on credit cards and personal loans
05/24/2020
English High Court rules former Leeds United MD David Haigh rebranded as #FreeLatifa “human rights lawyer“ a “fraudster”
High Court rules to retrieve Haigh’s hotel and farm, bought with embezzled funds.
05/22/2020
Lebanese PM: central bank to intervene to protect Lebanese pound
The pound has lost more than half of its value since October.
05/22/2020
Doing business in The United Arab Emirates
The population of the UAE has tripled since 2000 to nearly 11 million, 90% of whom are foreign-born workers employed in a wide range of industries.