07/19/2022
UAE employers must comply with new Emiratisation rules to avoid hefty fines
The programme applies across all of mainland UAE but does not apply in the freezones including the DIFC and ADGM.
Legal, Tax, Regulation & Compliance
07/15/2022
Norton Rose Fulbright advises OKX on market entry into Dubai
OKX is one of the largest cryptocurrency exchanges in the world by trading volume
07/14/2022
CBB Government development bond Issue No.30 oversubscribed
Issue of the 5-year Government Development Bond has been oversubscribed by 298%
07/13/2022
Dubai’s financial services sector tops global ranking in attracting FDI projects
Dubai surpassed major financial cities, including London, Singapore, New York and Paris, in attracting foreign direct investment projects in 2021
07/12/2022
The Group Law Firm and Rimon P.C. combine efforts
In Response to the Demand for Global Legal Services from Saudi Clients
07/11/2022
UAE’s business-friendly policies attract more global investors
Dubai welcomed 6.17mln overnight visitors from January to May 2022
07/08/2022
Ask the Law: In UAE, can employer dismiss an employee without issuing a warning?
Employer can dismiss a worker without notice only after conducting an investigation
07/07/2022
United Arab Bank goes live with Arab Monetary Fund’s Buna platform
New initiative will assist UAB’s retail and corporate clients to send and receive cross-border multi-currency payments in a safe, cost-effective, and transparent way
07/07/2022
Fintech company director fined $24,000 for obstruction of investigation
He refused to hand over information when suspected of operating without proper authorisation
07/07/2022
Solutions inks $79.46mln contract with STC
Under the 24-month contract, solutions will install data transfer devices and raise the capacity of stc's internal and international network and the infrastructure for virtual broadband devices
07/05/2022
The Central Bank of Egypt reinstates fees on ATM withdrawals as of July 1st
The CBE has also raised the ceiling of off-us cash withdrawals from ATMs
07/05/2022
Dubai Land Department collaborates with Emirates NBD
To support the rental market, rental cheque payments will soon be automated and digitised through enabling of rent collection using the Central Bank of the UAE’s Direct Debit System
07/05/2022
KFH-Bahrain to provide financing for study at NGN
KFH-Bahrain signed a Memorandum of Understanding (MoU) with NGN Training Centre, the educational arm of NGN International, a company that specialises in integrated information systems and provides IT consultancy.
07/01/2022
Egypt’s Banque Misr ensures banking business continuity and digital employee engagement
SAP SuccessFactors Provides Full Visibility and Real-Time Insights on Performance and Goals for more than 20,000 Employees Across 800 Branches
07/01/2022
DIFC rolls out Open Finance Lab in Dubai
The initiative supports DIFC’s ongoing efforts to realise the objectives of its 2030 strategy by unlocking strategic opportunities for the UAE and reinforcing DIFC’s position as a global financial services hub.
06/30/2022
Despite SAMA support, Saudi banks need to add deposits to expand lending: S&P
Current liquidity crunch may lead to capital market development
06/30/2022
Dechert Secures Complete Dismissal of Claims Against the Arab Republic of Egypt
The decree stated nothing about the sum of money owed to the plaintiff and the plaintiff never filed the appropriate action in Egypt to determine that amount.
06/29/2022
Lebanon banking association affirms its unity after criticism by member banks
The ABL also called on the Lebanese state to shoulder a portion of financial sector losses estimated at some $70bln
06/27/2022
Higher energy prices to see Qatar budget surplus widen to 12.8% of GDP: NBK
Qatar’s economy returned to growth in 2021, with GDP up 1.5%, on stronger consumer demand and lessening Covid-19 disruptions.
06/27/2022
IMF suggests measures for 'independent monetary policy' for Qatar
A more flexible exchange rate regime would have limited effect on external competitiveness since 87% of Qatar’s exports are hydrocarbon and could generate significant uncertainty and negative balance-sheet effects (as forex accounts for 17% and 32%