🇦🇪UAE Legal News

South Africa’s corporate landscape has seen important amendments to the Companies Act, 2008, with new rules aimed at streamlining processes related to financial assistance and share buybacks. These updates, which come into effect once proclaimed by the President, could have significant implications for businesses, particularly in their dealings with subsidiaries and share acquisitions. The Companies …

Key Changes to South Africa’s Companies Act: Simplifying Financial Assistance and Share Buybacks Read More »

Apple is preparing to face off in court this week, asking a federal judge to dismiss a case filed by the U.S. Department of Justice, which accuses the company of illegally dominating the smartphone market. The case, which centers on claims that Apple unfairly restricts third-party apps and devices, will be argued before U.S. District …

Apple Takes Stand to Dismiss U.S. Smartphone Monopoly Case Read More »

Opposition parties in India have called for a formal investigation into the Adani Group following explosive allegations of bribery, with opposition leader Rahul Gandhi leading the charge to raise the issue in parliament. This move comes after Gautam Adani, the billionaire head of the conglomerate, was indicted in the United States over a $265 million …

Opposition Demands Adani Probe Amid US Bribery Charges, BJP Questions Timing Read More »

Saudi Arabia’s business landscape is experiencing an unprecedented boom, with commercial company registrations soaring by 68% in just 20 months. The surge follows the implementation of a groundbreaking new Companies Law in January 2023, which has drastically streamlined business operations and fueled economic growth. By the end of Q3 2024, the number of registered companies …

Saudi Arabia Sees Surge in Business Registrations with 68% Growth Following New Corporate Law Read More »

In a decisive move to safeguard national and cultural identity, Saudi Arabia has issued a sweeping ban on the commercial use of symbols and logos tied to countries, as well as religious and sectarian emblems. The directive, introduced by Commerce Minister Dr. Majed Al-Qasabi, aims to curb exploitation and uphold respect for these symbols. Under …

Saudi Arabia Declares Crackdown on Unauthorized Symbol Use in Commerce Read More »

The South African Revenue Service (SARS) has long been known for its rigid stance on “bona fide inadvertent errors,” a designation that exempts taxpayers from harsh understatement penalties ranging from 10% to a staggering 200% of tax shortfalls. However, recent rulings by South Africa’s highest courts have shifted the landscape, offering clarity and a measure …

South Africa’s Tax Showdown: How the Constitutional Court Redefined Penalty Rules Read More »

Harare faces a looming showdown as the city council prepares to demolish 5,000 homes deemed illegally constructed on land reserved for public services. The move, described as a measure to restore order, has sparked heated disagreements between city officials and the national government. The targeted properties, primarily in high-density suburbs like Kuwadzana, Budiriro, Glen View, …

Harare’s Urban Rift: City Council Battles Over Illegal Homes Read More »

In a sweeping effort to safeguard Nigerians from fraudulent investment schemes, the Securities and Exchange Commission (SEC) is pushing for stronger legal measures to curb Ponzi and pyramid scams. Under the proposed 2024 Investments and Securities Bill (ISB), promoters and operators of illegal financial schemes face hefty fines and long jail sentences. The ISB seeks …

Cracking Down on Ponzi Schemes: Nigeria Moves to Reinforce Financial Integrity Read More »

The Central Bank of Nigeria (CBN) has voiced significant concerns over provisions in the Investment and Securities Bill 2024, warning that some of the proposed powers for the Securities and Exchange Commission (SEC) may conflict with existing money laundering laws and could lead to operational clashes between the two entities. At a public hearing in …

CBN Raises Concerns Over New SEC Powers in Proposed Investment Bill Read More »

Saudi authorities have detained 20,778 individuals across the Kingdom in a sweeping operation to enforce residency, border, and labor laws. This intense week-long crackdown, conducted in collaboration with various government agencies, underscores the Kingdom’s commitment to curbing unauthorized stays and illegal border crossings. The detainees include 11,523 individuals violating residency regulations, 5,711 in breach of …

Sweeping Crackdown: Saudi Forces Detain Over 20,000 in Nationwide Operation Targeting Illegal Residency Read More »