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COVID-19

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The pervasive nature of COVID-19 means that organisations globally and in the Middle East are facing a similar struggle: navigating both the short-term and long-term business implications of the pandemic. Whether managing the immediate crisis, stabilizing your operations or evolving your business model, it is critical for your organization to navigate the various regulatory developments and changes that vary by country and consider the risks and opportunities that may impact your business.Baker McKenzie is pleased…

Leading global law firm Baker McKenzie is pleased to announce that 85 of our colleagues have been promoted to partner. Promotions take effect from 1 July. Across the Firm’s practice groups globally, Tax and Dispute Resolution saw the largest intake of new partners, with M&A also significantly adding to their numbers. In the Middle East, two noteworthy promotions were awarded to: Joanna Matthews-Taylor from the Employment and Compensation Practice and Mohamed El Khatib from the…

On 25 May 2020, His Highness Sheikh Hamdan bin Mohammed bin Rashid Al Maktoum, Crown Prince of Dubai and Chairman of the Executive Council, has announced the gradual reopening of business activities in Dubai and removal of all movement restrictions between 6:00 am and 11:00 pm, as of 27 May 2020. The sectors allowed to resume activities include retail and wholesale outlets, airports, clinics, educational and training institutions, sports academies, cinemas, entertainment and leisure attractions,…

The Kingdom of Saudi Arabia (KSA) has announced to triple the rate of VAT to 15%, which will come to effect on 1 July 2020. This is a significant rate increase and one of the fiscal measures taken by the KSA Government to mitigate the negative effects of the COVID-19 pandemic and other macro-economic developments on public finance. The increased rate is expected to apply to all supplies of goods and services that are currently…

On 15 April 2020, based on a study presented by the Egyptian Competition Authority (ECA), the Prime Minister issued Decision No. 17/2020 fixing the prices of some products needed to combat COVID-19 for at least three months ending on 14 July 2020 (the Decision). This Decision is the first successful implementation of Article 10 of the Egyptian Competition Law (ECL), which grants the Council of Ministers the right to fix the prices of strategic/essential product(s)…