Al-Mirsal

Tag Archives: UAE

Ready for Takeoff: A Look at the Space Sector in the Middle East

By Latham & Watkins LLP on Posted in Kuwait, Project Development and Finance, Qatar, Saudi Arabia, Technology, United Arab Emirates
The Middle East’s rapidly advancing space sector has seen a slew of landmark achievements in the last few years. By Alexander Hendry In 2014, the UAE established the UAE Space Agency to oversee and grow its space sector, and it has since successfully completed numerous projects. In July 2020, it became the fifth country in … Continue Reading

UAE Publishes First Federal Data Protection Law

By Latham & Watkins LLP on Posted in Regulatory, United Arab Emirates
Organisations subject to the law should carry out a gap analysis of their current compliance position against the new requirements. By Brian A. Meenagh, Alexander Hendry, and Lucy Tucker The United Arab Emirates (UAE) has issued its first federal data protection law (Federal Decree Law No. 45/2021 on the Protection of Personal Data) (the Data … Continue Reading

UAE Decision on Health Data Law Provides Clarity

By Latham & Watkins LLP on Posted in Healthcare, United Arab Emirates
The decision will likely provide comfort to businesses operating in the healthcare sector both in the UAE and globally. By Brian A. Meenagh and Avinash Balendran On 28 April 2021 the United Arab Emirates (UAE) federal government issued Ministerial Decision No. 51 of 2021 (the Decision) to clarify when health information may be stored or transferred outside of … Continue Reading

The DIFC Prescribed Company: A Guide to Uses and Requirements

By Latham & Watkins LLP on Posted in M&A/ Private Equity
By Christopher Lester and Connie Leung The Prescribed Company Regulations offer a more flexible incorporation and permitted purposes regime than its predecessor, the Special Purpose Company Regulations. Prescribed Companies are a type of corporate vehicle available in the Dubai International Financial Centre (DIFC), the financial free zone of the Emirate of Dubai, United Arab Emirates … Continue Reading

COVID-19: Managing Financial Difficulties in the United Arab Emirates

By Latham & Watkins LLP on Posted in Banking and Finance, Restructuring & Insolvency
Understanding bankruptcy laws in the UAE and DIFC in the context of COVID-19-related financial pressures. By Nomaan A. Raja and Aly Kassam COVID-19 has already caused wide-scale disruption to numerous industries both locally and globally. Whilst efforts are underway to stop the spread and impact of COVID-19, the financial and social impact of the virus … Continue Reading

Update on the UAE Foreign Direct Investment Law: Part 1

By Latham & Watkins LLP on Posted in M&A/ Private Equity
UAE Federal Cabinet approves Positive List of activities eligible for up to 100% foreign ownership. By Christopher Lester and Connie Leung WAM, the Emirates News Agency, reported on 2 July 2019 (the WAM Report) that the UAE Federal Cabinet has approved 122 economic activities across 13 sectors that will be eligible for up to 100% … Continue Reading

DIFC Issues New Direct Marketing and Electronic Communications Guidelines

By Latham & Watkins LLP on Posted in United Arab Emirates
The DIFC guidelines provide practical guidance for DIFC-registered entities engaging in electronic direct marketing, including useful “dos” and “don’ts”. By Brian A. Meenagh, Fiona M. Maclean, and Laura Holden What Do DIFC-Registered Entities Need to Know? In January 2019, the Commissioner for Data Protection for the Dubai International Financial Centre (DIFC) issued new Direct Marketing … Continue Reading

Is Green Sukuk a Viable Option for Clean Energy Initiatives in the GCC?

By Harj Rai and Lee Irvine on Posted in Capital Markets, Islamic Finance, Qatar, Renewables, Saudi Arabia, United Arab Emirates
A number of GCC governments, including those in the UAE and Saudi Arabia, have set ambitious clean energy and energy efficiency targets. As the fastest growing region in the world, the GCC’s population is expected to grow more than 53 million by 2020. Substantial amounts of investments will be required to finance the clean energy … Continue Reading

Top 3 Employment Issues in the United Arab Emirates

By Latham & Watkins LLP on Posted in Employment, United Arab Emirates
The Dubai Chamber of Commerce and Industry has reported a 24 percent increase in newly registered companies since last year; in part due to the recent successful World Expo 2020 bid, among other positive economic forces. As companies look to establish in the UAE, the Gulf state’s economy is expected to boom across many sectors … Continue Reading

An Introduction to Non-Profit Incorporated Organisations in the DIFC

By Charles Fuller and Oliver Simpson on Posted in United Arab Emirates
While the Dubai International Financial Centre (the DIFC) remains primarily focused on the financial services industry, its stable and sophisticated legal and regulatory regimes have increasingly attracted organisations in the culture and arts, retail, leisure and — more recently — the non-profit sectors. To date, only a handful of non-profit entities have been established in … Continue Reading

Top 4 Trends that are Shaping UAE Capital Markets

By Oliver Simpson and Andrew Tarbuck on Posted in Capital Markets, Real Estate, United Arab Emirates
The strengthening global recovery appears to have brought renewed confidence to the UAE’s capital markets. As such, a number of interesting themes have begun to emerge: Resurgence in Dubai’s Real Estate Sector:  Following a four year gap, IPOs and other equity offerings have returned in the form of DAMAC, Al Noor Hospitals, Arabtec, NMC Healthcare … Continue Reading

Infographic: How #Healthcare is Regulated in the #UAE

By Ahmad Anani, Charles Fuller, Stuart Kurlander, Marc Makary and Abid Qureshi on Posted in Healthcare, Regulatory, United Arab Emirates
Investment in the UAE’s healthcare sector is steadily increasing as the government seeks to deliver world-class healthcare to its residents.  Latham has compiled the following Infographic to explain the regulatory framework behind the UAE’s first-rate infrastructure projects and advanced healthcare services. Read more about UAE healthcare regulations here.… Continue Reading

How to comply with laws that protect personal #data in the #Middle East

By Justin Cornish, Brian Meenagh, Omar Elsayed and Alice Marsden on Posted in Qatar, Regulatory, Saudi Arabia, Technology, United Arab Emirates
Digital Identity Dominates  Having a digital identity for online browsing, transactions and interactions has become necessary to operate in this information age.  As more and more lifestyle and business services shift to the digital platform, there has been an explosive growth in personal data capture.  The “Big Data” phenomenon has the potential to transform, innovate … Continue Reading

How new UAE Competition Law will impact businesses

By Omar Shah, William Seivewright and Adeola Adeyemi on Posted in Regulatory
The expiration date is looming for the six month transitional period granted to the Federal Law No. 4 of 2012 (the “Competition Law”) On 23 February 2013, the new Competition Law came into force in the UAE, prohibiting certain types of restrictive agreements and abuses of dominance, and introducing merger control. The 23 August 2013 … Continue Reading

Iraq: Opportunities Despite Ongoing Uncertainty

By Andrew Tarbuck and Oliver Simpson on Posted in Capital Markets, Project Development and Finance
Few countries in the world have come close to matching Iraq in terms of contradictory media coverage in recent years. Stories of economic growth and opportunity are tempered by reports of political, tribal and sectarian divisions. While the world is focussed on insecurity in the immediate aftermath of the withdrawal of US troops from Iraq … Continue Reading
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