One of the most attractive benefits in resorting to arbitration is a tribunal’s power to award costs. These would normally include the tribunal’s fees and expenses as well as those of any arbitral institution involved. However, as is now widely known in UAE legal circles, the parties must specifically empower the tribunal to award legal…
The New Year arrived in Dubai, UAE, with more than the usual amount of spectacular fireworks this year, as anyone of the hundreds of thousands of people who gathered around the Burj Khalifa this past Thursday evening in anticipation of the annual New Year’s Eve fireworks, can attest to. As the crowds gathered, the nearby…
Regional insight, global outlook Rooted in local heritage with a focus on building relationships, BSA Ahmad Bin Hezeem & Associates’ key strength lies in their ability to look beyond the law for their clients. It’s been a busy year at BSA Ahmad Bin Hezeem & Associates (BSA). Back in the Oath’s July/August issue, the firm…
The Islamic finance sector in the UAE during 2015 featured a substantial expansion. The nature of growth witnessed throughout the first and second quarter of 2015 was mainly seen in the banking, finance and insurance sectors. There has also been a growing interest in the Shariah compliant structures and products from a number of conventional…
On November 9th 2015 the Saudi Cabinet approved the text of the new Company Law, a move warmly welcomed by both the business and legal communities. The long-awaited piece of legislation (the previous Company Law had been enacted by Royal Decree No. M/6 dated 22/3/1385 H corresponding to G) introduces several major changes, filling many…
What happens when strict regulation is imposed onto a market that had until that time been barely regulated? Think of Wyatt Earp and his brothers riding into Tombstone, Arizona in the early 1880’s, looking to impose order on the until that time lawless town. The outlaws were forced to flee, but at the same time…
In the aftermath of last year’s Torch Tower blaze in the Dubai Marina amongst other recent fires in Dubai and other Emirates, a number of questions have been raised regarding the rights of tenants where their apartment has been damaged in a fire. It is particularly difficult for tenants when they have to move out…
Michael Kortbawi, Partner – Insurance and Reinsurance discusses why insurers in the regions should invest in sectors with which they are best acquainted. To read full article CLICK HERE and go to page 20. Published:October 2015 Title:Insurers should focus on core strengths Practice: Insurance & Reinsurance Author:Michael Kortbawi
Iran Sanctions Agreement The 14th July announcement that the Islamic Republic of Iran and the E3 + 3 nations (the United States, Great Britain, France, Germany, Russia and China, together also known as the P5 + 1) have, after long running negotiations, entered into a comprehensive agreement whereby Iran accepted substantial limits on its…
In an attempt to address recent criticisms targeted at its complex and time-consuming registration procedures and in order to attract significant foreign investments, perceived as a means of counterbalancing a decrease in oil prices and deficit in budgets, the Saudi Arabian General Investment Authority (“SAGIA”), has embarked upon a comprehensive overhaul of the framework governing…
