Commercial MENA Edition
Latest News
Batch of medicines pulled from UAE market
According to the ministry, 'Batch No. 0093' of Laxocodyl suppositories (10mg) were incorrectly labeled
Indebted firms urged to make use of Social Security Corporation decision
Under the decision of the Social Security Corporation, indebted companies that apply to pay their debt through instalments between August 1 and until September 30, will only pay 5% interest rate
Dubai issues 14,737 new licences in first half of 2019
Around 52% of the new licences were commercial
WTO to rule on China's complaint on U.S. duties on solar cells
China charges that the U.S'. tariff-rate quota on imports of solar cells and an increase in duties on imports of modules, violates WTO rules
WTO to rule on India sugar export subsidies - trade official
India will keep its sugar export subsidies despite complaints to the WTO from rival producers
Over 500 companies operate in Dubai's spice trading sector, says DED
Of the 514 companies, 375 licences were issued for 'Trading of spices', 132 for 'Packaging of spices', and seven for 'Preparation of sauce and spices'
Irish regulator queries Facebook on transcription of users' audio
Facebook has faced broad criticism from lawmakers and regulators
Central Bank of Bahrain issues rules for insurance aggregators
With the introduction of insurance aggregators, a customer is able to find and choose insurance quotes from several insurance companies under a single electronic platform or mobile device application
Google, Facebook, Amazon to testify in U.S. against French digital tax
French Senate approved a 3% levy that will apply to revenue from digital services earned in France
Singapore to ban domestic elephant ivory trade from 2021
China, the largest end-market for elephant ivory, banned domestic trade in 2017
Insights
Abraaj unlikely to pay its huge Dubai fine. That's great
The magnitude and severity of the fine will serve as a reminder to and a deterrent for others who may be harbouring similar ideas
Weak Facebook penalty mirrors weak U.S. watchdog
Republican and Democratic critics have urged the FTC to be tougher on Facebook in recent weeks
British Airways hacking fine is painful precedent
Under the new regime, the maximum punishment is 4% of global revenue
