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Legal market overview
The Saudi Arabian market has generally slowed down due to the drop in oil prices, and many projects are on hold as the government is channelling more funds into defence investments due to concerns over the war in Yemen and regional instability. Despite the geopolitical tension, corporate activity continued unabated with healthcare and education being key targets of investment. Notably, the government made efforts to further liberalise the capital markets and open them to foreign investment. That said, the Capital Markets Authority (CMA) has recently been more selective regarding domestic applications for IPOs and has put on hold most.
Clifford Chance LLP and Clyde & Co are the first two law firms in the Kingdom to establish joint Saudi and foreign owned law partnerships. In other noteworthy developments, Law Firm of Hassan Mahassni In association with Dechert LLP’s association arrangement was formed in September 2015 and Mohammed Al-Jadaan left Al-Jadaan & Partners Law Firm after being appointed as the chairman of the CMA in January 2015. Law Firm of AlSalloum and AlToaimi in association with White & Case LLP is the new name of the US firm’s local alliance, following the cessation of relations with Waleed Al-Nuwaiser.
Legal Business: country analysis
Behind the veil – Can Islamic finance live up to the sales pitch?
Islamic finance flourished during the downturn and has
emerged as a significant practice for both Middle East and international firms. How sustainable is the workflow and what lies ahead for the key players?
Click here to read the feature.
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by Jeremy Scott - email@example.com
Infringements of competition law or antitrust law can prove to be costly for businesses. That much is clear from the annual report for 2015 that was recently published by the Bundeskartellamt, Germany’s Federal Cartel Office.
VEGAS LEX Partner, Head of Energy practice Evgeniy Rodin has moderated a roundtable discussion on the payment discipline and ways to resolve conflicts in the housing and utilities sector, organized by the Kommersant Publishing House.
Family homes can only be passed on to one’s spouse or children free of tax if certain conditions are met. That was the verdict of the Finanzgericht (FG) München [Fiscal Court of Munich] in one of its recent rulings.
Employment law provides for the possibility of extraordinary dismissal without prior notice. However, this can only be effective if there is good cause justifying this course of action.
Germany’s federal government has settled on reforms to inheritance tax. Company heirs can continue to expect favourable tax treatment in the context of business succession.
In order to effectively issue ordinary notice of dismissal for reasons relating to conduct, it is often necessary for the employer to have previously issued a formal written warning.
Baker & Partners has been ranked in the top tier of Jersey legal firms for Dispute Resolution in the 2016 Legal 500 Index . This makes Baker & Partners the only bespoke litigation firm in Jersey operating in the top tier.
It is important to bear in mind when removing a managing director from his post for good cause that an employment relationship exists as well. These two legal relationships ought to be considered separately.
ETH Zurich was awarded the contract by the European Space Agency (ESA) for the ESA Business Incubation Centre Switzerland. The initiative was launched by the State Secretariat for Education, Research and Innovation. It supports selected young start-ups with a connection to space technologies.