Emirates-Middle East

Beware: A Bounced Cheque Can Lead You Behind Bars In the UAE

by Arti Sangar April 30, 2012

The economic downturn has resulted into a nightmare for many individuals in the UAE. Hundreds of individuals are currently being imprisoned for bounced cheques as booming businesses went bust. For one Irishman, the nightmare of prison and a lengthy jail sentence is looming large, forcing him to resort to a hunger strike. This person was the [...]

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Taking A Closer Look – Agency Agreements In The UAE

by Arti Sangar April 19, 2012

Foreign principals who wish to conduct business in the UAE or in the wider Middle East, but want to do so with a minimal investment, often turn to commercial agents to sell their goods. The main piece of legislation that governs agency arrangements in the UAE is Federal Law No. 18 of 1981, what is [...]

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The Rising Trend Of Public Private Partnerships In The Middle East

by Arti Sangar April 13, 2012

 Governments in the Middle East are in the process of rapidly developing their physical and social infrastructures to provide necessary services to their citizens. In this regard, a public private partnership (PPP) can be a viable option to construct or develop a wide range of these infrastructure projects, including highways, power plants, bridges, pipelines, ports, [...]

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DIFC Special Purpose Companies Grow in Popularity

by Arti Sangar March 26, 2012

Dubai International Financial Centre (DIFC) recently hosted its first Knowledge Series event for 2012, highlighting the benefits of a Special Purpose Company (SPC) and its role in enabling structured finance transactions. An SPC can be easily structured and incorporated in the DIFC, while enjoying certain exemptions from a number of tedious requirements.  One of the [...]

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The UAE’s new bankruptcy law | A Move To Ease Business Fears

by Arti Sangar March 20, 2012

The UAE is in the process of implementing a new bankruptcy law. The new bankruptcy law is intended to create a more modern, debtor-friendly regime, with particular emphasis on the rescue of a distressed debtor’s existing business or the restructuring of the debtor’s liabilities, rather than formal liquidation or bankruptcy. The new law will be [...]

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Ever expanding Etisalat: Mobile Remittances and 3G in Afghanistan

by admin March 19, 2012

Being the first to launch 3G service in Afghanistan and eyeing mobile remittances, Etisalat is having a happening first quarter. KippReport Related articles Etisalat moves towards winding up Etisalat DB (UAE, India) (wirelessfederation.com) Etisalat wins three awards (nation.com.pk) 2G Etisalat closes operation, Subscribers! File Damage Claims. (ramanan50.wordpress.com)

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National Bank of Abu Dhabi Said to Sell $750 Million Bonds

by admin March 19, 2012

National Bank of Abu Dhabi PJSC, the United Arab Emirates’ second-biggest bank, will raise $750 million from a sale of dollar bonds, according to three people familiar with the plan. La Repubblica Related articles Dubai credit risk drops on 5-year high growth outlook (noorislamicbank.wordpress.com) UAE attracts $1.8billion FDI in 2011 (noorislamicbank.wordpress.com)

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Dispute Resolution In the UAE | Litigation Is Not The Only Way

by Arti Sangar March 19, 2012

When companies enter into a business transaction – be it trading of goods or leasing of a commercial property – everything seems to be in control, as it should be. However, unfortunately, sometimes it does not take long for the good business relations to turn sour, the reasons of which can be many – cash [...]

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UAE Employment Termination Entitlements | Former Nakheel CEO Awarded $3m By DIFC Court

by Arti Sangar March 16, 2012

Former Nakheel CEO, Chris O’Donnell, was recently awarded $3.25 million, including $3 million in two unpaid annual bonuses and 54 days of paid leave, amounting to almost AED 850,000. Nakheel was also told to pay for the former CEO’s business class flights back to Australia — at a cost of AED 67,000. Read more about [...]

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Dubai Economic Growth Expected to Slow

by admin March 15, 2012

The United Arab Emirates’ economic growth is expected to slow to 2.3% this year, from an estimated 4.9% in 2011, due to limited potential for further increasing oil production amid an uncertain global economic environment, according to the International Monetary Fund. The IMF also noted that in the event of a worsening of world economic [...]

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