| NIDC inks deal with Valeo Egypt to boost Kingdom’s automotive sector
In a push to localize the Kingdom’s automotive industry, Saudi Arabia’s National Industrial Development Center has inked a strategic deal with Valeo Egypt, the software development unit of the global automotive supplier. |
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| UAE: Is income of free zone businesses subject to zero per cent tax?
The UAE Corporate Tax law (UAE CT law) states that zero per cent corporate tax (CT) is applicable on the qualifying income (QI) of the qualifying Free Zone Person (QFZP), and the non-qualifying income (NQI) of the QFZP is subject to tax at nine per cent. |
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| Saudi real estate fund signs deals worth $3.64bn to boost housing market
Aiming to boost Saudi Arabia’s housing market, the Kingdom’s Real Estate Development Fund inked finance agreements worth SR13.7 billion ($3.64 billion) in the first quarter of 2023. |
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| Mawani inks deal with Saudi Post in logistics development boost
In a bid to materialize the goals outlined in Saudi Arabia’s National Transport and Logistics Strategy, Saudi Ports Authority, also known as Mawani, has entered into a strategic partnership agreement with Saudi Post to manage the authority’s postal requirements. |
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| Kuwaitis head to vote again
Kuwaiti voters head to the polls on Tuesday for the third time since December 2020 to elect a new parliament they hope will put an end to almost two decades of non-stop political disputes, which have stalled development despite huge revenues from oil. |
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| New speed limit announced on Abu Dhabi road; change takes effect on June 7
Starting June 7, Abu Dhabi will implement a new speed limit on Umm Yafina Street from Al Reem Island to Sheikh Zayed Road (Al Qurum). |
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| UAE corporate tax: Ministry clarifies tax on real estate, immovable property
The UAE’s Ministry of Finance on Monday issued a clarification under which foreign companies and other non-resident juridical persons will be subject to nine per cent corporate tax on income earned from real estate and other immovable property in the UAE. |
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| Saudi Arabia, Egypt sign MoU to bolster bilateral trade
Bilateral trade between Saudi Arabia and Egypt is set to grow after an agreement was reached to enhance economic cooperation — with a key focus on developing the non-oil export sector. |
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| Kuwait enters election silence ahead of crucial Assembly polls
As Kuwait prepares for its third parliamentary elections in less than 30 months as a result of a high level of political divisions, campaigns enter into election silence on Monday, a day before the crucial June 6 snap polls. |
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| Dubai: Can landlord deduct money for wear and tear from tenant's security deposit?
How do you define 'reasonable' wear and tear for rental properties in Dubai? I am moving out of my apartment next month, and other than faded paint and some low-key drilling work (for clocks, paintings etc.), there has been no structural damage. Can the landlord deduct anything from my security deposit? If he does, can I contest it? If so, how? |
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| Dubai: Can employer legally change employee's job description, add more duties?
I work in a mainland company in Dubai. I accepted a job offer after going through the requirements thoroughly. The management is now changing my job description to add more tasks. Is this legal? |
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| Saudi Arabia to sign deals to promote Egyptian investment in industrial, mining sectors
Saudi Arabia plans to sign two agreements with Egypt to boost the North African country’s participation in the Kingdom’s industrial and mining sectors in line with Vision 2030. |
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| All UAE institutions committed to protect constitutional, legal rights of citizens, residents, visitors, says Attorney-General
All UAE institutions are committed to respect and protect the constitutional and legal rights of every citizen, resident and visitor in the nation's territory, Dr Hamad Saif Al Shamsi, UAE Attorney-General, has affirmed. |
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| Saudi Arabia arrests 11,614 illegals in one week
Saudi authorities arrested 11,614 people in one week for breaching residency, work and border security regulations, according to an official report. |
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| Electricity ministry to issue decision regulating renewable energy sector
Minister of Electricity, Water and Renewable Energy Mutlaq Al-Otaibi said on Saturday that the ministry will make a decision regulating the renewable energy sector “within the next few days”. |
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| Wallen Trading signs partnership with Renault Group to distribute cars in KSA
Wallan Trading Co., one of the leading players in the Saudi car market, signed a strategic partnership to become the official distributor of Renault Group as the Riyadh-based firm looks to expand its automotive offerings in the Kingdom. |
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| Up to Dh3 million fine in UAE: New draft law regulating non-Muslim places of worship approved
The Federal National Council (FNC) has approved a draft federal law regulating places of worship for non-Muslims. The draft law aims to promote the values of tolerance and coexistence and will be applicable to all such places nationwide, including those located in free zones. |
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| UAE ministry, FAB partnership to offer Dh5 billion financing solutions to investors
The Ministry of Industry and Advanced Technology (MoIAT) and First Abu Dhabi Bank (FAB) have entered a partnership to provide exceptional and competitive financing solutions worth Dh5 billion to both local and foreign investors in the industrial and advanced technology sectors. |
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| UAE issues 2 new decisions on corporate tax regime in free zones
The UAE’s Ministry of Finance on Thursday released two new decisions related to qualifying income and qualifying activities for corporate tax in free zones. |
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| Adnoc signs deals with more than 60 companies to bolster local manufacturing
Adnoc has inked agreements with more than 60 UAE and international companies to locally manufacture critical non-oil products in its supply chain. |
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| KAUST signs MoU with nonprofit global health group to develop healthcare services
King Abdullah University of Science and Technology (KAUST) signed a memorandum of understanding with PATH, a nonprofit global health organization, to develop healthcare services in Saudi Arabia. |
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| Tobacco taxes should be mandated in Kuwait: Health official
The new parliament should impose taxes on tobacco and take measures to combat smoking, Director of Mubarak Al-Kabeer health area Waleed Al-Busairi said Wednesday at an event held by the Ministry of Health to raise awareness against growing tobacco. |
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| ‘Smart system’ for expats eyed
Secretary General of the Supreme Council for Planning and Development Dr Khaled Mahdi said on Wednesday that Kuwait is continuously seeking to overhaul legislations concerning expatriate workers with the aim to set up a “smart system” to regulate bringing in foreign workers. |
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| UAE corporate tax to come into effect from June 1: Here is what you need to know
The federal tax on corporations and business profits will come into effect for financial years starting on or after June 1, 2023. |
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| Saudi Arabia, France discuss economic cooperation in private sector
The Federation of Saudi Chambers hosted a meeting between Saudi business owners and a delegation of 100 French companies, Saudi Press Agency reported on Sunday. |
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| Saudi Arabia, Malaysia sign deal for mutual recognition of halal certification
The Saudi Food and Drug Authority and the Department of Islamic Development Malaysia, also known as JAKIM, signed a memorandum of cooperation for mutual recognition of the halal certification of locally manufactured products. |
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| In a first, top court orders govt to reinstate citizenship of 3 families
Kuwait’s court of cassation, whose verdicts are final, ordered the government in a landmark ruling on Thursday to return the citizenship of three families whose nationality was revoked. |
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| UAE: How will end-of-service benefits, gratuity be calculated if I take up part-time job?
Question: I am thinking of taking up part-time work. Can you explain how end-of-service benefits and gratuity calculations work if I work for two employers? |
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| UAE: Can employees encash entire annual leave by working full year?
Question: Can I encash all my annual leaves by working the entire year? If yes, how is this calculated? |
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| Constitution provides parliamentarians with freedoms to play prominent legislative role
With recent opinions skeptical of the role of the legislative process in Kuwait and its actual effects on policymaking, we should look back to the constitution and the freedoms it provides to members of the parliament with regards to their role in interacting with the government. |
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| Some expatriates try to cover travel expenses by subletting apartments
The high cost of living and the advent of the holiday travel season is driving some expats in Kuwait to take unexpected actions to cover their traveling expenses during summer. Many expats are subletting their rented apartments for the duration of the time they are visiting their home countries — around two to three months. |
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| UAE announces new corporate tax rules to support companies' transition once law takes effect in June
The UAE's Ministry of Finance (MoF) on Friday announced a new decision specifying corporate tax rules that aim to ease companies' transition period once the law comes into effect on June 1. |
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| Police issue warning against fake news claiming they are offering jobs to all nationalities
Ajman Police has issued a clarification regarding job vacancies at the department. |
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| UAE President issues law establishing minor affairs authority in Capital
His Highness Sheikh Mohamed bin Zayed Al Nahyan, President of the UAE, in his capacity as Ruler of Abu Dhabi, has issued a law establishing the Awqaf and Minors Affairs Authority (AMAA) in Abu Dhabi. |
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| UAE: Up to Dh5,000 fine for owners of some vehicles who fail to register in tracking system before October 30
The Federal Authority for Identity, Citizenship, Customs & Port Security called on owners of means of transporting goods and trucks registered in the United Arab Emirates to register in the Electronic National System for Tracking Trucks and Shipments during the approved registration period, which ends on October 30, 2023. |
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| UAE Central Bank removes insurance company's board of directors for violating laws
The Central Bank of the UAE (CBUAE) on Tuesday announced the removal of the board of directors of an insurance company and replaced it with a temporary committee of experts for six months for not adhering to the local laws. |
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| MODON, Sukuk Capital sign deal to provide new financing solutions to SMEs
Entrepreneurs and owners of small and medium enterprises in Saudi Arabia are set to have enhanced access to financing solutions thanks to a new agreement. |
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| Saudi Arabia signs energy cooperation deal with Azerbaijan
Saudi Arabia’s Minister of Energy Prince Abdulaziz bin Salman met his Azerbaijani counterpart Parviz Shahbazov on Wednesday to discuss bilateral cooperation in the fields of energy, including renewables, Saudi Press Agency reported. |
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| Top court upholds ruling scrapping 2022 Assembly
The constitutional court on Wednesday rejected a petition challenging its ruling on March 19 that annulled the 2022 elections, scrapping the 2022 National Assembly and reviving the 2020 house. |
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| Saudi Cabinet welcomes signing of short-term ceasefire agreement in Sudan
The Saudi Council of Ministers on Tuesday welcomed the signing of a short-term ceasefire agreement by the two parties to the conflict in Sudan. |
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| Minimum 5-year jail sentence for embezzlement of funds by public employees
The punishment for public sector employees who embezzle money from their place of work is jail time, reminded the Public Prosecution in UAE. |
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| Sri Lanka, Saudi Arabia expand bilateral cooperation to multiple sectors
Saudi Arabia and Sri Lanka are broadening their political consultation and expanding bilateral cooperation to over 60 areas, officials of both countries have told Arab News after their first joint committee meeting. |
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| TAQA to invest over $3bn in Uzbekistan’s power sector
Uzbekistan’s power sector is set to receive a major boost after the UAE-based utilities firm Abu Dhabi National Energy Co. announced plans to invest over $3 billion in new and existing power plants. |
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| UAE, Egypt bid to boost investment partnerships
The UAE International Investors Council has signed a memorandum of understanding with the Egyptian-Emirati Business Council to enhance existing investment partnerships, the Emirates News Agency reported on Monday. |
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| UAE: Dh50,000 minimum fine for sheltering delinquent minors, police issue warning
Anyone caught protecting, harbouring delinquent minors shall face stiff penalties under the UAE’s new law on handling juvenile offenders. |
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| Kingdom’s Real Estate Development Fund inks 2 agreements to support Sakani beneficiaries
More Saudi citizens will have access to easy financing solutions to help them own homes thanks to the agreements signed between the Kingdom’s Real Estate Development Fund and Bank Albilad and Saudi Awwal Bank. |
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| PIF’s Badeel, ACWA Power sign deal for 3 solar projects
Saudi Arabia’s renewable energy sector is set to receive a significant boost as the Kingdom’s principal buyer Saudi Power Procurement Co. signed a power purchase agreement with the Public Investment Fund-owned Badeel and ACWA Power for three new solar energy projects. |
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| Dubai: Can my family face legal issues if I fail to pay my children's school fees?
Question: I am an expat who has run into financial difficulties. I plan to send my family back home. I have cleared almost all my liabilities except my children's school fees. Will this affect my plans to send them back? What legal complications am I likely to face? |
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| UAE: Can a company revoke job offer letter before an employee's joining date?
Question: I have received an offer letter from a Dubai-based company. I plan to resign from my current position shortly, but before putting in my papers, I wanted to get clarity on something. Can a company rescind the offer letter before an employee joins? What are the rules around this? |
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| Etihad Rail partners with Italian firm Arsenale to launch luxury train service in the UAE
Travelers will have access to a luxury train service in the UAE after national railway network operator Etihad Rail partnered with Italian hospitality firm Arsenale Group in a move to boost tourism and showcase the country’s heritage and scenic attractions. |