In a decisive move against financial misconduct, Saudi Arabia’s Capital Market Authority (CMA) has levied significant fines and imposed jail terms on three executives from Abdullah A. M. Al-Khodari Sons Co. for serious violations of the Capital Market Law. The penalties come as part of the CMA’s crackdown on improper financial reporting and market manipulation. …
In a decisive move to protect financial integrity, the Dubai Financial Services Authority (DFSA) has fined Vedas International Marketing Management (Vedas Marketing) $100,000 (AED 367,000) for promoting financial products in an unauthorised and misleading manner. Vedas Marketing drew the DFSA’s ire for promoting Multibank Group’s services without permission to people within the Dubai International Financial …
UAE Regulator Slams Company with Heavy Fine for Misleading Financial Claims Read More »
Ibri, Dhahirah — In a sweeping move to uphold business integrity and consumer convenience, the Department of Commerce, Industry, and Investment Promotion (MoCIIP) in Oman has launched an intensive inspection campaign across Dhahirah. This operation focused on ensuring that shops, restaurants, and cafés adhere to electronic payment regulations, a vital step towards enhancing transparency and …
Oman Cracks Down on Hidden Trade in Dhahirah with Targeted Inspections Read More »
In a bold move against corruption, Saudi Arabia’s Oversight and Anti-Corruption Authority (Nazaha) has unveiled a sweeping investigation targeting five key government agencies, including the Ministry of Interior, Ministry of Justice, the National Guard, the Ministry of Municipalities and Housing, and the Zakat, Tax, and Customs Authority. The initiative, which gained momentum throughout October, has …
Saudi Arabia Launches Major Anti-Corruption Sweep, Detaining 121 Officials Read More »
In a pivotal moment for Tesla and its shareholders, a Delaware judge has announced intentions to deliver a ruling on Elon Musk’s unprecedented $56 billion compensation package before the year wraps up. Chancellor Kathaleen McCormick of the Delaware Court of Chancery communicated her goal in a recent letter to the involved legal teams. Musk’s 2018 …
In a decisive move against drug smuggling, the Zakat, Tax, and Customs Authority (ZATCA) intercepted over 2.4 million Captagon pills hidden within a shipment at Jeddah Islamic Port. This critical port, a key element in Saudi Arabia’s Vision 2030 plans, became the setting for a major security effort that resulted in the arrest of six …
In a stringent campaign across Saudi Arabia, authorities have intercepted over 1,300 unauthorized attempts to cross the Kingdom’s borders in just one week. This recent operation, covering October 17 to October 23, aimed to curb violations of residency, labor, and border security laws, with the Ministry of Interior reporting a total of 20,896 infractions. Among …
The UAE has rolled out a groundbreaking update to its traffic laws, lowering the minimum age for drivers to 17 as part of a wide-ranging decree aimed at modernizing road regulations. The decree introduces policies to align with global transportation trends, including support for self-driving and electric vehicles, and improved road safety through advanced technologies. …
UAE Greenlights Younger Drivers in Traffic Overhaul Read More »
In a sweeping operation across Saudi Arabia, authorities detained 21,971 individuals for violating various residency, border, and labor laws between October 10 and October 16. These arrests were part of coordinated efforts involving security forces and government agencies. The Ministry of Interior revealed that the detainees included 13,186 individuals in breach of residency laws, 5,427 …
Crackdown in Saudi Arabia: Nearly 22,000 Illegal Residents Arrested in One Week Read More »
The trial of Tigran Gambaryan, a top compliance executive at Binance, hit another snag as illness kept him from appearing in court, forcing a Nigerian judge to postpone proceedings until October 25. Gambaryan, a U.S. citizen, has been held in detention since February on charges of laundering over $35 million—a claim both he and Binance …
Illness Delays Trial of Binance Executive Amid Crypto Clampdown in Nigeria Read More »
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