Aquila: M&A Looking Up in 2013; "The Negatives Are Built In"
This year has seen a resurgence of activity in the Middle East equity capital markets, with players such as National Commercial Bank and Qatar Petroleum in the spotlight and growing interest from both regional and...more
Saudi Arabia: Further changes to the Nitaqat System -
In the last couple of years the Government in Saudi Arabia has been increasingly engaged with the issue of employment and creating opportunities for Saudi...more
Dubai made the world’s front pages in November 2013 as it won its bid to host the World Expo 2020 against competition from Russia, Turkey and Brazil. It would be premature at this stage to understand what this really means in...more
Recent events in Ukraine and the Middle East have expanded sanctions placed by the U.S. Department of the Treasury’s Office of Foreign Assets Control (OFAC) against certain foreign financial institutions and individuals. This...more
On 15 September 2014, Qatar’s Emir approved Law No. 14 of 2014, The Cybercrime Prevention Law (“Cybercrime Law”). Although it has not yet been published in Qatar’s Official Gazette, the text of the law was published in the...more
- QFCRA must approve a change of control, whether in direct shareholding or at a parent level, with key thresholds set at 10%, 24%, 49% and 74% of voting rights or shares.
- When exceeding the...more
The European Union is seeking to re-regulate Europe’s energy sector to improve security of supply, sustainability and competitiveness. Energy transformation in Europe has exposed the shortcomings of over-regulation and...more
In a recent article published by Law 360, Proskauer litigation associate Courtney Bowman outlines how companies can make inroads in the e-commerce market in the Middle East and North Africa (MENA). Although often overlooked,...more
The Middle East, with its booming and increasingly diversified economy and rapid population growth, is a popular region for expansion by many foreign multinational companies.
But multinationals targeting the Middle...more
Welcome to the July 2014 edition of Red Notice, a publication of Akin Gump Strauss Hauer & Feld LLP.
This month on the anticorruption front, two Noble Corporation executives settle with the U.S. Securities and Exchange...more
January 2014, both the EU and U.S. brought into force measures which temporarily suspended and relaxed (for a period of six months, to end on 20 July 2014) some of the sanctions in place against Iran. This reflected the Joint...more
The Gulf Cooperation Council (GCC) countries accounted for IPO issuances valued at US$1.1 billion in 2013, according to Bloomberg. Notably, Qatar Exchange bounced back this year with the successful IPO and listing of Mesaieed...more
Council of EU Publishes Compromise Proposal on ELTIF Regulation -
On May 27, the Council of the EU published a compromise proposal (10215/14), dated May 23, 2014, in respect of the European Commission's proposed...more
While the Dubai International Financial Centre (the DIFC) remains primarily focused on the financial services industry, its stable and sophisticated legal and regulatory regimes have increasingly attracted organisations in...more
Today we celebrate greatness in two areas. The first is in baseball as on this day in 1939, “New York Yankees first baseman Lou Gehrig benches himself for poor play ending his streak of consecutive games played at 2,130....more
Once considered a privacy free-for-all, Africa and the Middle East have radically transformed their privacy regimes over the past few years. A critical mass of 17 countries in the region now have comprehensive privacy laws...more
The U.S. defense industry is facing a new battle – financial distress. Withdrawal of U.S. forces from Afghanistan and Iraq combined with reductions in the defense budget and sequestration have taken a toll on many U.S....more
The Egyptian justice system continues to suffer from the absence of basic due process, and we continue to see example after example of cases wherein defendants receive no protection from unfair trial proceedings. First, a...more
As a new round of nuclear talks involving American, European, and Iranian leaders commence this week in Vienna it appears that the first-step deal agreed upon in January has already led to significant changes in OFAC’ s...more
The U.S. District Court for the Eastern District of Virginia ruled in September 2013 that Mike Elder proffered sufficient evidence to continue with his False Claims Act action against DRS Technologies, Inc. (DRS)....more
IRAQ’S Kurdistan region benefits from abundant hydrocarbon resources and is enjoying impressive economic growth and relative political stability. By contrast with other regions in Iraq, security conditions are benign and...more
Following a recent amendment to the Dubai International Financial Centre1 (DIFC) Arbitration Law, it is now clear that matters brought before the DIFC Courts which are governed by a valid arbitration agreement shall be stayed...more
While Israel welcomes immigrants, and even provides them with tax incentives, it is serious about ending any perceived notion that it is somehow complicit with taxes evaded by its foreign residents in their home country. As...more
The Department of the Treasury, Office of Foreign Assets Control (OFAC), amended the Iran personal communications General License D-1 (GL D-1) on Feb. 7, 2014, expanding, clarifying and superseding the May 2013 General...more
On January 20, 2014, the U.S. Department of the Treasury and U.S. Department of State issued guidance implementing the Joint Plan of Action (“JPOA”) entered into by the United States, the United Kingdom, France, Russia, the...more
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