As the 2019 Novel Coronavirus (COVID-19) continues to spread across the world, and governments and health authorities work tirelessly to defeat it, major economies are experiencing mounting pressure as consumer spending, production and investment are drastically curtailed due to virus-related risks.We recognize that many of our clients are also facing significant and urgent business impact and legal challenges.Our Baker McKenzie teams across the world are working with clients, regulators and various authorities to produce a…
In the past year the United Arab Emirates (UAE) has witnessed a number of important developments in the area of compliance and financial crime which will have a significant impact on the risk exposure of companies operating in the UAE for the foreseeable future. Over time, collectively, these changes will have a profound impact on the compliance environment in the UAE, particularly as it relates to financial crimes, and companies can no longer approach compliance issues casually.
Over the past week, various reports from news outlets and other sources have suggested that some of the restrictions on the movements of goods between the United Arab Emirates (UAE) and Qatar imposed by the UAE, Saudi Arabia, Bahrain and Egypt (Boycotting States) in June 2017 as part of the boycott on Qatar have been partially lifted.
Cooling macro economic drivers will mean that transaction activity next year will be marginally down on 2018 pulled back by weaker European markets reveals the fourth Global Transactions Forecast issued by Baker McKenzie and Oxford Economics (OE).
The United Arab Emirates (UAE) has recently issued the long-anticipated Federal Law No. 19 of 2018 on Foreign Direct Investment (the FDI Law), which further opens up the UAE mainland market to foreign investors and strengthens the country’s position as the leading foreign investment destination in the region. This follows the announcements made by the UAE in May 2018 regarding plans to boost foreign investment into the country.