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The Abu Dhabi Global Market Arbitration Centre, better known as ADGMAC, has signed an agreement with the Sharjah International Arbitration Centre (Takheem), for promoting commercial arbitration across the UAE and the wider region. This agreement is projected as a solution to effect cooperation between the two centres, and has been created with the objective of working together to bring accessibility, efficiency and effectiveness. These are the goals behind agreements signed by the ADGM with other arbitration centres, as per the description on the ADGM website.
The agreement might promote team work and prospects of a more efficient International Commercial Arbitration system. The Registrar and Chief Executive of the ADGM Courts, Linda Fitz-Alan and the Director of Tahkeem, Ahmed Saleh Al Echla, who signed the agreement, opine that this is part of a shared vision.
It has to be noted that the ADGM has signed multiple cooperation agreements with many important arbitration centres to promote the goals of accessibility, efficiency and effectiveness. The centres which have signed such frameworks for cooperation with the ADGM include AIAC, SIAC, CRCICA, EMAC, ICC, KCAB and arbitration centres of Russian, Saudi and Lebanese Nationality.
Following a heated dispute, an Arab woman was found guilty of attacking her roomate and she was sentenced to one year in prison for her crime.After a disagreement regarding borrowed money emerged between the victim and the suspect, the victim reportedly filed a report with the police alleging that she had been assaulted by her roommate. According to the records of the police department, the...
To protect the business sector from monopolistic practices and to bring better accountability, MoUs have been signed to help build the Saudi economy as per Vision 2030. This is part of Saudi Arabia’s pushing up of its efforts in the business sector to combat monopolistic practises, maintain transparency, and foster healthy competition. On Tuesday, the General Authority for Competition and the...
Judge Mary K. Dimke from the US District Court for the Eastern District of Washington has given permission for a proposed class action lawsuit that claims Twitter Inc. unlawfully sold the phone numbers of its account holders to third parties to proceed in federal court.Glen Morgan initiated the lawsuit, alleging that Twitter violated the state Criminal Profiteering Act by acquiring the telephone numbers...
When Sutherland invented the term white-collar crime, they indicated those crimes which were financially motivated but non-violent. If someone steals your credit card and they use it by impersonating you or they sign on a document just the way you would have signed, then you know that their actions attract the laws on forgery. Whether a document is original or fake, it can only be identified by a...
A 40-strong gang has been jailed and fined a hefty fine of Dh860 million jointly post their conviction for money laundering and defrauding investors. A fine of Dh50 million each has been imposed on companies that were involved in the said illegal transaction. The gang had successfully lured unsuspecting investors into investing money in return for a digital currency which they called ‘Foin’....
Dubai Police Smart Stations processed 66,432 transactions in the first half of 2021. The number of visitors to the 16 SPSs, which are distributed across the emirate, reached 308,865. The smart transactions handled by SPS included registering 3,884 reports. The Dubai Police is keen on realising Dubai leadership's visions through the "Smart Police Station" project. The SPSs are open 24/7 and services...