LexisNexis Middle East

News developments

Abu Dhabi: Small Claims Court to be Established

23/06/202124/06/2021
by Benjamin Filaferro

Al Bayan, 20 June 2021: A new Small Claims Court is going to be established in the Emirate.

It is aimed at enabling relevant disputes to be settled quicker.

It is also aimed at protecting the rights of all parties to a dispute.

The court will be able to settle civil, commercial and labour disputes and claims for less than 500,000 AED.

Its final decision will be issued in one session.

Cases will be heard within 15 days of being registered.

For full story see https://www.albayan.ae/uae/news/2021-06-20-1.4190592.

Also reported in Gulf News (United Arab Emirates) on 20 June 2021.

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News developments

Dubai: Arabtec Trustees Appointed

21/06/202121/06/2021
by Benjamin Filaferro

Gulf News (United Arab Emirates), 21 June 2021: Dubai’s Court of First Instance has appointed trustees for each of the Arabtec Group companies facing liquidation.

They have accepted the petition to open bankruptcy proceedings for Arabtec Holding and its subsidiaries including Arabtec Construction LLC, Austrian Arabian Readymix Concrete Co, Arabtec Precast,. Arabtec Constructions LLC, Emirates Falcon Electromechanical Co.; and another entity under the same title and Emirates Falcon Electromechanical Co.

They will review the accumulated debts and create a record of all creditors.

Each trustee overseeing an Arabtec Group entity facing liquidation has to submit a request to the court on the contractual and legal interests.

They have to prepare an initial separate report on the assets of each entity and its rights with third-parties. They must also list all managers and members of the board of directors and shareholders for the two years preceding the bankruptcy application. In addition, they have to submit their opinion on the management and the preservation of the company’s assets.

The Court have also stated all procedures in Federal Decree-Law No. 9/2016 (the Bankruptcy Law) must be completed within 35 days from the date of the trustee appointment notification.

Initial reports from the trustees have to be handed in within two weeks.

The announcement paves the way for the liquidation of the UAE’s biggest construction company and will also be the benchmark for future proceedings under the country’s recently amended Bankruptcy Law.

In addition, the Court has stayed all judicial procedures and execution procedures on the companies’ assets until a restructuring plan is approved or for 10 months from the date of the decision to open the bankruptcy proceedings.

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News developments

Saudi Arabia: Mining Licenses to be Issued Next Year

20/06/202120/06/2021
by Benjamin Filaferro

Arab News, 18 June 2021: Saudi Arabia’s Vice Minister for Saudi Mining Affairs has announced mining licenses are going to be auctioned next year.

They will auction two major mining licenses for commodities including gold, copper and zinc.

The Kingdom is aiming to triple the sector’s contribution to national GDP to 240 billion Riyals and double the number of jobs to 470,000 by 2030.

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News developments

Qatar: Amendments to QFC Law Approved

20/06/202120/06/2021
by Benjamin Filaferro

Gulf Times, 16 June 2021: Qatar’s Cabinet has approved a draft law amending the QFC Law (Qatar Law No. 7/2005).

They also approved a draft law amending the Free Zones Law (Qatar Law No. 34/2005).

In addition, they approved a draft Ministerial Decision amending the tables attached to Qatar Law No. 9/1987 on Controlling Drugs and Regulating their Trade and Use and Qatar Law No. 19/1993 regarding regulating the circulation of psychoactive substances.

They went on to approve a draft Ministerial Decision on establishing a disciplinary board for auditors. It has been approved as part of efforts to implement Qatar Law No. 8/2020 on regulating the auditing profession.

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News developments

UAE: Genomics Council to be Established

16/06/202116/06/2021
by Benjamin Filaferro

The UAE’s Vice President and Prime Minister and Dubai Ruler has approved the establishment of a UAE Genomics Council.

It is being established to help the country provide a world-class healthcare system.

It will be led by the Chairman of the Abu Dhabi Executive Office.

It will regulate, oversee and guide the implementation of the Emirati Genome Programme in the country’s healthcare system.

It is being established to help the UAE carry out therapeutic and preventative programmes to help reduce the prevalence of genetic disorders, disabilities and mortality rates.

It will also oversee the execution of Government genomic programmes and propose legislation to govern the field together with health regulators across the country.

In addition, it will regulate data acquisition and storage and establish a system for issuing ethics and consent approvals for all genomics programmes.

It will support technology start-ups and companies and build partnerships with world-leading technology firms to drive cutting-edge genomics research as well and support new innovative therapies for rare and chronic diseases and develop technical training and graduate programmes and knowledge incubators to build the next generation of omics professionals.

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News developments

Bahrain: Implementation of Data Protection Law Being Considered

15/06/202115/06/2021
by Benjamin Filaferro

Bahrain’s Justice, Islamic Affairs and Endowments Ministry is considering the implementation of the country’s Data Protection Law.

It will be implemented in line with international standards.

They have launched a consultation on draft implementing regulations. The consultation ends on 30 June 2021.

They are also working directly with specific sector regulators to facilitate consultation on the draft regulations to ensure they are implemented smoothly in all sectors and sector-specific requirements are taken into account.

Under Bahrain Decree-Law No. 78/2019, the Ministry has had the duties and powers of the Personal Data Protection Authority delegated to them.

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News developments

Oman: Business Incentives To Rectify Multiplicity of Registers to be Launched

14/06/202114/06/2021
by Benjamin Filaferro

Oman’s Commerce, Industry and Investment Promotion Ministry is going to launch a raft of business incentives to rectify multiplicity of register issues.

They will be launched on 15 June 2021.

Under the incentives, affected entities will have one year to clear multiple entities or merge them within six months.

The aim is to streamline the process of status adjustment for these entities and encourage young people and owners of multiple commercial registers to clear or merge their businesses.

It is also aimed at eliminating this phenomenon, regulating the market, improving the business climate, allowing competition and removing inactive commercial registers from incentive packages and fee exemptions.

A file cancellation may be processed electronically through the Invest-Easy portal or through Sanad Centres.

The relevant documents will have to be attached.

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News developments

Kuwait: Tougher Recruitment Restrictions for Government Jobs Announced

13/06/202113/06/2021
by Benjamin Filaferro

Gulf News (United Arab Emirates), 10 June 2021: Kuwait’s Civil Services Commission has announced tougher recruitment restrictions for foreigners in Government jobs.

Under the restrictions, the appointment of non-Kuwaitis is restricted to health workers and teachers in specialisms where there are no citizens to fill vacancies.

The Commission has rejected requests by some Government agencies to recruit non-Kuwaitis. In some cases, they have also nominated Kuwait citizens for the vacant positions.

The Commission has considered these requests advertisements for vacancies in those agencies.

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News developments

Saudi Arabia: Proposal to Allow Foreigners to Own Property Submitted

13/06/202113/06/2021
by Benjamin Filaferro

Saudi Gazette, 10 June 2021: Saudi Arabia’s Shoura Council has submitted a proposal, which if approved, will allow foreigners to own property in the country.

However, they would only be able to do so in line with specific conditions.

They have submitted it to the Real Estate General Authority.

They have also urged the Authority to monitor the governance of entities it regulates including the Saudi Real Estate Institute, the Saudi Centre for Real Estate Arbitration and the Centre for Research and Studies.

In addition, they have asked the Authority to boost its supervisory role in all of its work and work with the relevant authorities to ensure stability in the real estate sector and reduce risks which may occur in the real estate market.

They should prepare its annual report in line with the Royal Decree regarding the rules for preparing annual reports for Ministries, Institutions and Government agencies as well.

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News developments

Dubai: Government Regulations Must be Cut by 30%

13/06/202113/06/2021
by Benjamin Filaferro

Gulf News (United Arab Emirates), 9 June 2021: Dubai’s Crown Prince and Executive Council Chairman has issued instructions for Government regulations to be cut by 30% by September.

The aim is to make it easier to do business in the Emirate.

The instructions have been issued in line with the UAE’s Vice- President and Prime Minister and Dubai Ruler’s goal to support the private sector in the Emirate by simplifying procedures to boost the Emirate’s competitiveness and increase its attractiveness to investors.

They also want to enable businesses to grow in the Emirate.

Also reported in Emaratalyoum on 9 June 2021. For full story see https://www.emaratalyoum.com/local-section/other/2021-06-09-1.1499948.

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