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Yesterday’s Petya ransom-ware attack highlights again the serious effect that cyberattacks can have on all companies operating in an increasingly digitalized and interconnected marketplace. Although the full scope and scale of this attack will emerge with the fullness of time, events like this will only become more common if companies within the shipping and transport sectors remain unprepared.
On 5 June 2017, Saudi Arabia, Bahrain, the UAE and Egypt announced they were severing trade and diplomatic relations with Qatar.
The four “embargo states” explained their decision on grounds of national security and stability concerns, alleging that Qatar supports ‘terrorism’ and interferes with the internal affairs of fellow members of the Gulf Cooperation Council (GCC). The embargo will inevitably lead to contractual disputes.
Bahrain, Egypt, Saudi Arabia and UAE severed diplomatic ties with Qatar on Monday 5 June 2017 accusing Qatar of supporting extremist groups. As part of this process Bahrain, Egypt, Saudi Arabia and the UAE closed their airspace to flights landing and taking off between their respective countries and Qatar. At the same time Saudi Arabia took the further step of shutting its airspace to Qatar.
The effects of the Referendum on the UK’s membership of the European Union on 23 June 2016 are rather like an earthquake, when a massive tremor is followed by a series of after-shocks until the ground eventually settles down. Following the UK’s vote of 51.9% in favour of leaving the EU against 48.1% for remaining in the EU, a bitter power struggle at the top of the Conservative party ensued.
In the recent case of The Director of the SFO v. Eurasian Natural Resources Corporate, the English court found that the Serious Fraud Office (the “SFO”) was entitled to disclosure of certain documents from a multinational corporate that was subject to an ongoing SFO criminal investigation resulting from allegations of international fraud, bribery and corruption. The documents had been generated during a period of internal investigation into those allegations.
Directors’ duties and liabilities: comparison of the position under the UAE Commercial Companies Law and the DIFC regime
This article compares the general principles that apply to directors’ duties and liabilities in the UAE – onshore with those applying in the Dubai International Financial Centre (DIFC). The comparison will be of interest to businesses that have both DIFC and onshore companies in their group structure.
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