Ngozi Okonjo-Iweala, the first woman and the first African to head the WTO, is the only candidate in the race, paving the way for the body's 166 members to re-elect the 70-year-old Nigerian at a closed-door meeting.
SAMA issues rules regulating ‘buy now pay later’ companies
Riyadh, Saudi Arabia -- The Saudi Central Bank (SAMA) has issued rules for regulating buy now pay later (BNPL) companies, as part of its role in supervising and controlling BNPL companies, according to a SAMA press release.The move reflects SAMA's continuous efforts to develop the financial sector as a whole...
EU clinches ‘historic’ deal on AI law after long negotiations
The EU's internal market commissioner, Thierry Breton. called the deal as historic, regulating artificial intelligence models such as ChatGPT. Negotiators in Brussels nailed down curbs on how AI can be used in Europe, which they said would not hurt innovation in the sector nor the prospects for future European AI...
UN chief stresses ‘even wars have rules’ as Israel bombs Gaza
Describing the situation in Gaza as having reached a dangerous new low, UN Chief Antonio Guterres said that there was an immediate need for humanitarian access throughout Gaza to rush fuel, food and water to people in need. He warned that the blockaded enclave's health system was on the brink...Amnesty voices concern over Iran’s ‘intensified hijab crackdown’
Amnesty International expressed concern over the crackdown launched by Iran against women deemed to have violated the Islamic republic's dress rules. Iran was roiled by months of unprecedented protests triggered by custody death of Mahsa Amini in September last year, who had been arrested by the morality police for breaking...UAE Corporate Tax: Ministry of Finance issues three new rules
Abu Dhabi, UAE: The UAE on Tuesday issued three new decisions to further smoothen implementation of the Corporate Tax in the country which is set to come into force on June 1. These include fresh rules on tax grouping, interest capping, and unincorporated partnerships. Younis Haji Al Khouri, Undersecretary of...
Saudi Arabia approves rules to aid foreign investment in securities market
Riyadh, Saudi Arabia - Saudi Arabia has approved new rules aimed at boosting foreign investment in the country's securities market. The rules framed by the Capital Market Authority (CMA) include those for Foreign Investment in Securities, amendments to the Investment Accounts Instructions, amendments to the Implementing Regulation of the Companies...
SCCA’s revised arbitration rules come into effect in Saudi Arabia
Riyadh, Saudi Arabia-- The Saudi Center for Commercial Arbitration (SCCA) has published the 2023 revised SCCA arbitration rules with effect from May 1. The final text was endorsed after extensive review by the SCCA’s board of directors. The SCCA, in a statement, said the new rules will apply to all...
EU parliament approves sweeping cryptocurrency rules
The European Parliament approved the comprehensive rules to regulate the "Wild West" world of cryptocurrencies, hoping to protect investors against abuse and manipulation. EU member states have already backed the legislation covering cryptoassets, including cryptocurrencies such as bitcoin and ethereum and other tradable tokens whose value is secured using blockchain...
Israeli parliamentarians adopt strict limits on removing PM
Israeli parliament approved legislation restricting grounds for declaring a premier unfit for office, a move the opposition has called a "personal law" that serves Prime Minister Benjamin Netanyahu. The vote came as Netanyahu's government pushes forward with a judicial reform program, which critics say threatens Israeli democracy and has sparked...
Reforms in tax and visa rules to drive UAE’s growth
The introduction of new laws regarding the ownership structure of mainland companies may boost the Gulf country's economy in 2023 as it is expected to attract more investors.Dubai brings in new rules to govern its Digital Economy Court
Dubai, UAE--The Dubai International Financial Centre (DIFC) Court has launched a new set of industry-first specialised rules for its recently formed Digital Economy Court (DEC) Division. A leading international judicial expertise Justice Michael Black of England & Wales has been recruited to oversee and operate the new court’s cutting-edge digital...
ING Q3 profit at US$958m
Bank announced a share buyback of US$1.4 billion.
IAEA approves operational safety at Barakah Nuclear Power Plant
An International Atomic Energy Agency team of experts said the UAE's Barakah Nuclear Power Plant (NPP) had strengthened operational safety by addressing the findings of an IAEA safety review mission five years ago.UAE approves code for education professionals
The UAE Ministry of Education has approved the Code of Conduct for professionals in the sector to set up clear, public ethical standards, rules and principles of conduct.Saudi Central Bank seeks consultation on real estate refinance regulations
The Saudi Central Bank "SAMA" has released a public consultation on rules for regulating the business of real estate refinance companies. The release comes in continuation of SAMA's efforts to develop the financial sector and to keep abreast with developments of the financing industry in general, Saudi media reports said....
Kuwait to adopt rules allowing players to dedicate more time to games
Director-General of the Kuwaiti Public Authority for Sport Humoud Flaiteh has said that new sports rules will be adopted soon, allowing football, handball, volleyball and basketball players to be dedicated to their games during a sports season. Local media reports said that distinguished individual athletes representing Kuwaiti national sports teams...
Central Bank of UAE penalizes six exchanges for flouting rules on money laundering
The Central Bank of the United Arab Emirates has penalized six exchange houses for flouting rules to combat money laundering and illicit financial flows.
Some Facebook rules exempt VIPs
The program, "XCheck," shields millions of elite users
