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'A watershed moment' - total foreign ownership permitted in UAE

'A watershed moment' - total foreign ownership permitted in UAE
globallegalpost.com - get the latest breaking news, showbiz & celebrity photos, sport news & rumours, viral videos and top stories from globallegalpost.com Daily Mail and Mail on Sunday newspapers.

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S&P affirms Abu Dhabi's ratings on its robust economic fundamentals and fiscal buffers

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S&P Global Ratings affirmed the investment grade rating of Abu Dhabi, citing the strength and resilience of its economic fundamentals and the emirate’s large fiscal buffers that are supported by revenue from the hydrocarbon sector.
The AA/Stable/A-1+ rating and stable outlook of the emirate reflects the rating agency’s expectation that despite oil price fluctuations, Abu Dhabi s fiscal position will remain robust over the next two years and the emirate has a very strong capacity to meet financial commitments, S&P said in a statement on Tuesday.
“The exceptional strength of the government s balance sheet provides a buffer to counteract the effect of oil price swings and the effect of Covid-19 on economic growth, government revenue, and the external accounts, as well as the effect of high geopolitical uncertainty in the Gulf region,” the ratings agency said. ....

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The Stalling Visions of the Gulf: The UAE's Vision 2021 | The Washington Institute

The Stalling Visions of the Gulf: The UAE's Vision 2021 | The Washington Institute
washingtoninstitute.org - get the latest breaking news, showbiz & celebrity photos, sport news & rumours, viral videos and top stories from washingtoninstitute.org Daily Mail and Mail on Sunday newspapers.

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Can I own 100 per cent of an LLC? All you need to know about the new law announced

Dubai: Today, the UAE s Ministry of Economy announced that the amended Commercial Companies Law will come into effect on June 1, 2021, allowing foreign investors and entrepreneurs to establish and fully own onshore companies.
But what does the law mean for business owners and entrepreneurs and when will the changes come into effect? Here is all you need to know.
Hani Naja, Partner Corporate and Commercial at Baker McKenzie Habib Al Mulla, spoke to Gulf News about the new law and the changes that had already been implemented over the years, leading up to the recent announcement.
“The push for a relaxation in foreign direct investment in the UAE started a number of years ago. The first major change was in September 2018, with the issuance of the Foreign Direct Investment Law (FDI Law), which opened up the UAE market to foreign investors in certain sectors of the economy. The FDI law was then followed by the announcement on July 2019 of a Positive List of 122 business ....

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Travel, Tourism & Hospitality Limak sees steady progress on Kuwait Airport's T2 project

February 2021
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Work is moving at a steady pace on the new Kuwait Airport Terminal 2 (T2) project being developed at an investment of $4.3 billion.

Limak Construction, a part of leading Turkish conglomerate Limak Group, is the main contractor of the T2 project, which was designed by Foster + Partner. Structural engineering of the main structure was carried out by Werner Sobek.

The airport project is a key component of Kuwait’s National Development Plan and Vision 2035, “New Kuwait”, which stems from the late Amir Sabah Al-Ahmad Al-Jaber Al-Sabah’s vision to transform Kuwait into a leading financial, commercial and cultural hub, said the statement from Limak Group. ....

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