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United Arab Emirates: Time Frame For Recovering Input Tax - Hamdan AlShamsi Lawyers & Legal Consultants

The FTA of the UAE has issued a Public Clarification No. VATP017 clarifying the FTA position, about interpretation of Article 55 of the Federal Decree-Law No. 8 of 2017 on Value Added Tax, regarding time-period ...
Tags: News, Uae, FTA, Legal Consultants, Hamdan AlShamsi


#UAE banks waive $236.8mln debts of 1,607 Emiratis | ZAWYA MENA Edition

UAE banks waive $236.8mln debts of 1,607 Emiratis | ZAWYA MENA Edition The Non-performing Debt Relief Fund announced on Monday that 12 banks had waived the debts of 1,607 Emirati citizens, with a total value of more than AED869.85 million.The banks that participated included First Abu Dhabi Bank, Abu Dhabi Commercial Bank, Al Hilal Bank, Mashreq Bank, Emirates NBD, Abu Dhabi Islamic Bank, Standard Chartered, RAKBANK, Commercial Bank of Dubai, Dubai Islamic Bank, Emirates Islamic, NBQ, and the Ar...
Tags: Travel, Uae, UAE Armed Forces, Khalifa bin Zayed al Nahyan, Arab Bank, Rupert Neil Bumfrey, Supreme Committee, Mansour bin Zayed al Nahyan, Al Masraf, Jaber Mohammed Ghanem Al Suwaidi, Crown Prince Court of Abu Dhabi, Debt Relief Fund


United Arab Emirates: New Amendments To The UAE Commercial Companies Law Of 2015 – What You Need To Know - Akin Gump Strauss Hauer & Feld LLP

On January 2, 2021, the UAE will bring into effect a series of significant amendments (the "Amendments") to the main law governing business activity in the country — Law 2 of 2015...
Tags: News, United Arab Emirates, Uae, Gump Strauss Hauer, Feld LLP


200 law firms in #UAE sanctioned for anti-money laundering failures | ZAWYA MENA Edition

200 law firms in UAE sanctioned for anti-money laundering failures | ZAWYA MENA Edition Law firms in the UAE have been fined and suspended from practice for failing to comply with government anti-money laundering procedures.Sultan bin Saeed Al Badi Al Dhaheri, Minister of Justice, said 200 law firms in the UAE were suspended from practicing for one month, and will have the suspension lifted once they fulfil their obligations.A further seven law firms were fined AED 100,000.Al Badi was speaking a...
Tags: Travel, Justice, Cabinet, Uae, Rupert Neil Bumfrey, Sultan bin Saeed Al Badi Al Dhaheri, Al Badi, Ahmed bin Ali Al Sayegh Minister of State


#SaudiArabia seeks to resolve #Qatar crisis as ‘gift’ to Joe Biden | Financial Times

Saudi Arabia seeks to resolve Qatar crisis as ‘gift’ to Joe Biden | Financial Times Saudi Arabia has stepped up its efforts to resolve its more than three-year dispute with Qatar after US president Donald Trump’s election defeat, according to people briefed on the talks.  The move to end the Gulf states’ blockade of their gas-rich neighbour is being perceived as an attempt by Crown Prince Mohammed bin Salman to curry favour with the incoming Biden administration and deliver a parting prese...
Tags: Travel, Washington, Saudi Arabia, US, Qatar, Joe Biden, Iran, Egypt, Middle East, Al Jazeera, Biden, Abu Dhabi, Tehran, Yemen, Donald Trump, Bahrain


Israel's Beitar Jerusalem says #AbuDhabi ruling family member looks to buy stake | Reuters

Israel's Beitar Jerusalem says Abu Dhabi ruling family member looks to buy stake | Reuters A member of Abu Dhabi’s ruling family is looking to buy a roughly 50% stake of Israeli Premier League soccer club Beitar Jerusalem, the club’s owner said on Friday.Beitar said in September it was negotiating a possible investment by a group in the United Arab Emirates (UAE) in a statement that followed the announcement that Israel and the UAE had agreed to normalize ties.Beitar owner Moshe Hogeg said in a ...
Tags: Travel, Israel, Abu Dhabi, Uae, Beitar Jerusalem, Reuters, United Arab Emirates UAE, Beitar, Al Nahyan, Rupert Neil Bumfrey, Abudhabi, Moshe Hogeg, Israeli Premier League, Hamad Bin Khalifa Al Nahyan


United Arab Emirates: UAE Announces Amendments Removing Foreign Ownership Restrictions For Onshore Commercial Companies - Stephenson Harwood

On 23 November 2020, the UAE's official press agency announced that a Federal decree law has been issued making significant amendments to the Commercial Companies Law (Federal Law No. 2/2015)...
Tags: News, United Arab Emirates, Uae, Stephenson Harwood


UAE-bound Kenyans arrested over 'fake' Covid papers

The 21 travellers were bound for the UAE - which has already stopped issuing visas to Kenyans.
Tags: News, Uae


Kenyans arrested at airport with 'fake' Covid certificates

The 21 travellers were bound for the UAE - which has already stopped issuing visas to Kenyans.
Tags: News, Uae


Research Reveals UAE Residents Have Ambitious Travel Plans for 2021

UAE residents are already gearing up for a busy year of travel in 2021, according to new research conducted by Hilton in the UAE.
Tags: Travel, Hilton, Uae


OPEC+ Calls Last-Minute Talks to Prepare for Oil-Cuts Decision - Bloomberg

OPEC+ Calls Last-Minute Talks to Prepare for Oil-Cuts Decision - Bloomberg Saudi Arabia and Russia summoned OPEC+ ministers who oversee their oil production cuts for last-minute talks on Saturday, as the cartel prepares for a decision on whether to delay January’s output increase.A clear majority of OPEC+ watchers expect the group to maintain their supply curbs at current levels for a few months longer due to lingering uncertainty about the strength of demand. However, the decision is by no mean...
Tags: Travel, Iraq, Russia, Nigeria, Opec, Bloomberg, United Arab Emirates, Uae, Organization of Petroleum Exporting Countries, Alexander Novak, Rupert Neil Bumfrey, JMMC, Abdulaziz bin Salman, Bloomberg Saudi Arabia, Joint Ministerial Monitoring Committee, Algeria Kazakhstan Iraq Nigeria


BP to Invest More in Middle East’s ‘World-Leading’ Oil Fields - Bloomberg

BP to Invest More in Middle East’s ‘World-Leading’ Oil Fields - Bloomberg BP Plc said it will invest more money in Middle Eastern oil and natural-gas fields even as it transitions to renewable energy and tries to lower emissions.The company is a major producer in countries such as Iraq, where it operates the world’s third-largest oil field of Rumaila, the United Arab Emirates and Oman. It’s focusing on their low-cost oil, while also boosting output of gas, according to Stephen Willis, BP’s senio...
Tags: Travel, Iraq, Bloomberg, Middle East, United Arab Emirates, Oman, Bp, Abu Dhabi, Uae, Middle Eastern, Willis, Rumaila, Rupert Neil Bumfrey, Bloomberg BP Plc, Stephen Willis BP


UAE mission to Mars on course to arrive in February 2021

Spacecraft known as Hope carries instruments designed to study the tenuous Martian atmosphereThe Emirates Mars Mission (EMM) is on course to arrive at the Red Planet on 9 February. A third and final major trajectory correction manoeuvre (TCM) was completed on 10 November. An additional minor TCM in December will tee it up for a Mars orbit insertion manoeuvre next year. Without the need for further major course corrections, the mission team can begin early science observations of Mars and interpl...
Tags: Space, Science, China, India, US, World news, Middle East and North Africa, United Arab Emirates, Mars, Uae, Tcm, Red Planet, US Russia Europe


#UAE's flydubai starts Dubai-Tel Aviv services after detente | Reuters

UAE's flydubai starts Dubai-Tel Aviv services after detente | Reuters United Arab Emirates airline flydubai started direct passenger flights to Israel on Thursday after the two countries normalised ties in a Washington-brokered deal.Israel and the UAE agreed in August to establish diplomatic relations, paving the way for economic cooperation. Bahrain and Sudan have also agreed to forge formal ties with Israel in deals brokered by the Trump administration and promoted as a strategic Middle East s...
Tags: Travel, Washington, Israel, Tel Aviv, Middle East, Dubai, Sudan, Bahrain, Uae, Trump, Reuters, Reuters United Arab Emirates, Rupert Neil Bumfrey, Dubai Tel Aviv, Iran Dubai


#Dubai real estate fund ENBD REIT faces 'significant pressure'; asset value falls | ZAWYA MENA Edition

Dubai real estate fund ENBD REIT faces 'significant pressure'; asset value falls | ZAWYA MENA Edition Dubai’s ENBD REIT, a Shariah-compliant real estate investment trust, managed by the asset-management arm of Emirates NBD, has seen a further deterioration in the value of its portfolio due to the slowdown triggered by the coronavirus.Its net asset value (NAV) as of September 30, 2020 stood at $198 million, down by $32 million from the $230 million recorded in March 31. The fund’s property portfo...
Tags: Travel, Dubai, Uae, Emirates NBD, Rupert Neil Bumfrey, ENBD, MENA Edition Dubai, Oryx House


#UAE's Agthia makes 'strategic' move into Kuwait market | ZAWYA MENA Edition

UAE's Agthia makes 'strategic' move into Kuwait market | ZAWYA MENA Edition UAE’s food and beverages giant Agthia Group announced on Thursday a strategic acquisition to expand its footprint in the Gulf Cooperation Council (GCC) region.Part of the state-owned holding company ADQ, Agthia has signed a sales purchase agreement to acquire a homegrown Kuwaiti brand, Al Faysal Bakery and Sweets, which has an annual turnover of more than $25 million.“[The move will] build our regional F&B footprint, add...
Tags: Travel, Alan Smith, Kuwait, Uae, Gulf Cooperation Council GCC, Al Suwaidi, Rupert Neil Bumfrey, Agthia, Agthia Group, MENA Edition UAE, ADQ Agthia, Al Faysal Bakery, Agthia Group Agthia Group, Khalifa Sultan Al Suwaidi


United Arab Emirates: Employment And Immigration Laws - STA Law Firm

The UAE has relaxed the rules regarding Tourist Visas as part of their Expo 2020 objective.
Tags: News, United Arab Emirates, Uae


United Arab Emirates: UAE Foreign Ownership Laws – A New Chapter Of Investment Opportunity? - Gowling WLG

News reports published on 23 November 2020 (for more information see the Emirates News Agency's press release and Gulf News' report) made the exciting announcement that the United Arab Emirates...
Tags: News, Uae, Emirates News Agency


#UAE's Ministry of Economy sets up anti-money laundering department | ZAWYA MENA Edition

UAE's Ministry of Economy sets up anti-money laundering department | ZAWYA MENA Edition The UAE’s Ministry of Economy (MoE) has developed a strategic plan to combat money laundering practices in the country by setting up a specialized department called the ‘Anti-Money Laundering Department’The new department, acting within the structure of the MoE, aims to create awareness, and to regulate all activities listed under the business sector and specific non-financial professions.Abdulla Bin Touq Al ...
Tags: Travel, Uae, Ministry of Economy, Rupert Neil Bumfrey, Abdulla Bin Touq Al Marri, Ministry of Economy MoE, Anti Money Laundering Department, Supreme Committee for Combating Money Laundering


#UAE's ADGM to sign MOU with Israel's securities authority on fintech | Reuters

UAE's ADGM to sign MOU with Israel's securities authority on fintech | Reuters Abu Dhabi’s financial centre, Abu Dhabi Global Market (ADGM), will sign a memorandum of understanding with Israel Securities Authority and Israel’s biggest lender, Bank Hapoalim, to support financial technology, ADGM chairman Ahmed Ali al-Sayegh said on Wednesday.After the United Arab Emirates (UAE) and Israel agreed to normalise relations in August, the two countries have signed a host of accords to boost economic an...
Tags: Travel, Israel, Uae, Reuters, United Arab Emirates UAE, Reuters Abu Dhabi, Rupert Neil Bumfrey, ADGM, Bank Hapoalim, Abu Dhabi Global Market ADGM, Central Bank of the UAE, Israel Securities Authority, Ahmed Ali Al Sayegh, Abdulhamid Saeed Alahmadi


Mubadala seeks Israeli partners on technology investment | Reuters

Mubadala seeks Israeli partners on technology investment | Reuters Abu Dhabi state investor Mubadala Investment Co plans to identify potential fund partners in Israel and find high-growth companies to co-invest in, the head of its ventures unit said on Wednesday.“There will be interesting opportunities with joint funds or joint ventures, but we are still early on in evaluating this,” Ibrahim Ajami told a financial technology conference in Abu Dhabi.He said Mubadala has co-invested with Israeli i...
Tags: Travel, Europe, China, India, Israel, United States, Middle East, Silicon Valley, Abu Dhabi, Uae, Reuters, United Arab Emirates UAE, Reuters Abu Dhabi, Rupert Neil Bumfrey, Mubadala, Mubadala Investment Co


The UAE aims to join an elite space club of just t...

The UAE aims to join an elite space club of just three nations, with an unmanned moon mission planned for 2024.
Tags: News, Middle East, Uae


UAE hopes this tiny lunar rover will discover unexplored parts of the moon

The United Arab Emirates aims to join an elite space club of just three nations, with an unmanned moon mission planned for 2024.
Tags: News, Middle East, United Arab Emirates, Uae


UAE hopes this tiny lunar rover will discover unexplored parts of the moon

The United Arab Emirates aims to join an elite space club of just three nations, with an unmanned moon mission planned for 2024.
Tags: Cnn, United Arab Emirates, Uae


The US brokered an unprecedented summit between Israel and Saudi Arabia as a reward for assassinating an Al Qaeda leader, sources say

A composite image showing Saudi Arabia's Crown Prince Mohammed bin Salman (left) and Israel's Prime Minister Benjamin Netanyahu (right). Reuters/Getty Images/Business Insider The US helped broker a meeting between the leaders of Israel and Saudi Arabia, according to two officials briefed on the matter. The two sources — one Israeli and one European — said the meeting was a reward for the audacious assassination in August of an Al Qaeda target in Iran. The secret meeting, they said,...
Tags: Politics, Saudi Arabia, White House, Israel, US, Trends, G20, Joe Biden, Iran, News UK, United Arab Emirates, Al Qaeda, The New York Times, Benjamin Netanyahu, Biden, Uae


Goldman voices concerns about OPEC+ future as decision on output curbs nears | Reuters

Goldman voices concerns about OPEC+ future as decision on output curbs nears | Reuters As the OPEC+ group’s decision on oil production cuts nears, there are renewed concerns about the future of the organization as it tries to rebalance the market while securing higher revenue and market share in the medium-term, Goldman Sachs said in a note.OPEC+, comprising the Organization of the Petroleum Exporting Countries, Russia and other producers, is scheduled to meet on Nov. 30 and Dec. 1, and is likel...
Tags: Travel, Russia, Opec, Libya, Goldman Sachs, Goldman, Uae, Reuters, Rupert Neil Bumfrey


#Qatar starts legal proceedings against FAB in New York in market manipulation row | Reuters

Qatar starts legal proceedings against FAB in New York in market manipulation row | Reuters The Qatar Financial Centre Regulatory Authority (QFCRA) said on Tuesday it has started legal proceedings in New York to compel First Abu Dhabi Bank to pay $55 million in financial penalty imposed by a Qatari court.The Qatari regulator last year had fined United Arab Emirates’ biggest bank 200 million riyals ($55 million) for obstructing an ongoing investigation into suspected market manipulation, a charge...
Tags: Travel, New York, Qatar, United Arab Emirates, Uae, Reuters, Rupert Neil Bumfrey, QFC, First Abu Dhabi Bank, Qatar Financial Centre Regulatory Authority QFCRA, Civil and Commercial Court QFC Court


#Israel's El Al Airlines to fly 14 weekly flights to #Dubai | Reuters

Israel's El Al Airlines to fly 14 weekly flights to Dubai | Reuters El Al Israel Airlines will operate 14 weekly flights from Tel Aviv to Dubai from Dec. 13, it said on Monday, joining a handful of carriers launching routes between Israel and the United Arab Emirates (UAE).Israel and the UAE agreed in September to establish diplomatic relations, breaking a longstanding taboo and paving the way for economic cooperation.Subject to regulatory approvals, Israeli flag carrier El Al plans to operate t...
Tags: Travel, Israel, Tel Aviv, Dubai, Boeing, Uae, Reuters, EL AL, Rupert Neil Bumfrey, El Al Airlines, Reuters El Al Israel Airlines, United Arab Emirates UAE Israel


Seven key takeaways from #UAE's new commercial company ownership laws - The National

Seven key takeaways from UAE's new commercial company ownership laws - The National In a landmark move, the UAE on Monday executed sweeping reforms to its commercial company ownership laws.The move, which comes in the wake of recent changes to personal and family laws and reforms to visa rules, is aimed at attracting foreign capital and improving the ease of doing business in the country. Here are seven major takeaways from the reformed commercial company ownership law, according to law firm BSA...
Tags: Travel, GCC, Uae, Rupert Neil Bumfrey, BSA Ahmad Bin Hezeem Associates Companies, Department for Economic Development, Michael Kortbawi, BSA Ahmad Bin Hezeem Associates


#UAE Allows Full Foreign Ownership of Firms to Boost Economy - Bloomberg

UAE Allows Full Foreign Ownership of Firms to Boost Economy - Bloomberg The United Arab Emirates abolished the need for companies to have Emirati shareholders, local media reported, in a major shake-up of foreign ownership laws aimed at attracting investment into an economy reeling from the coronavirus and a decline in oil prices.The amendments to the 2015 commercial companies’ law remove key provisions requiring that a company be chaired by an Emirati national and for the board of directors to ...
Tags: Travel, United Arab Emirates, Dubai, Abu Dhabi, Uae, Emirati, Rupert Neil Bumfrey, Tarek Fadlallah, Boost Economy Bloomberg, Nomura Asset Management 's Middle Eastern