When short-phrase vulnerabilities are being felt At the moment, it's the extensive-time period prospective buyers of GCC states which might be Probably the most pressing for investors in the region. From a broader point of view, it is significant to foster The expansion of non-oil sectors as a way to make sure an financial long run to the GCC that may be successful even soon after oil reserves are actually depleted.
The proof signifies that Gulf Jet exercised substantial bargaining ability while in the negotiations and delayed closing. As with the font, it absolutely was naturally legible and critical provisions have been highlighted in Daring. Furthermore, it appears through the experience in the Leases that Gulf Jet affixed its stamp or seal to every website page of each and every Lease, suggesting that each site was reviewed and accredited. The alleged grounds of invalidity relied on by Gulf Jet are certainly not commercially fair nor credible and so are inconsistent Along with the proof. If Gulf Jet and Al Meeza have been unaware in the phrases of your Leases as is advised, that's due only to their particular wilful disregard of your agreements. Therefor e the grounds with the alleged invalidity asserted by Gulf Jet as pointed out above need to be turned down.
b. Gulf Jet was the "minimal guy" inside of a 1-sided transaction and was unable to barter the terms of your Leases (Gulf Jet Answer at paragraph 1.four);
It is additionally well worth noting which the group’s ongoing execution of its sustainability framework has resulted in main environmental, social and governance (ESG) ratings while in the area from Global ranking agencies.
g. In November 2010, Respondent one and three commenced the proceedings during the Civil Courtroom of Dubai to Get well abnormal Lease rental payments improperly charged by Cessna and paid by Gulf Jet, and likewise to determine an affordable reduction or elimination on the liability beneath the Leases in accordance While using the guidelines in the Emirate of Dubai mainly because of the effect of financial crisis which ought to be mirrored in a correct accounting. It was asserted that Cessna had declined to look in Those people proceedings (Response one.14).
The UAE is backing AI at the government amount, With all the minister for AI—a placement developed in 2017—noting in February that 9 banks and 9 other money institutions are making use of blockchain answers.
ISSUES FOR Resolve 101. Determined by the Phrases of Reference, as signed from the Claimant, Respondent 2 and the only real Arbitrator and authorized through the ICC Courtroom, the components and evidence filed by all functions to this arbitration along with the oral evidence adduced from the Claimant with the deserves Listening to, the problems for determination On this arbitration could be mentioned as follows: Concern one: In light in the ruling with the ICC Court under Posting six(four) and by this Tribunal in Procedural Buy #two, does the only real Arbitrator have jurisdiction to listen to and figure out the merits from the assert and any defences which can be asserted in this arbitration or has this Tribunal been deprived of jurisdiction by rationale in the commencement with the Dubai Court Proceedings or by the other grounds relied upon by Respondents 1 and three such as the invalidity on the arbitration agreements?
The announcement with the shortlisted entries along with the award winners will happen all through a glamorous awards ceremony. This grand party is actually a golden networking possibility, bringing collectively the GCC's finance field leaders less than one roof.
Moreover, this yr’s Business enterprise Excellence Awards recognised institutions and individuals who manufactured a mark last yr and impacted the region’s organization ecosystem within a significant way.
The worldwide Fintech Awards will proudly return get more info for its fourth year. This system will understand and honor the achievements of fintech businesses around the globe.
Historic weighty reliance on oil revenues has still left several GCC nations beholden into the fluctuations of the marketplace, that has been notably risky given that hitting a reduced stage in 2014.
Worldwide Finance, a Leading international magazine and sector analyst, is renowned for its arduous evaluation process that identifies top rated performers within the banking and money expert services sectors throughout above a hundred and fifty nations. The factors for the awards include technological innovation, leadership, model toughness, sustainability, and contributions to the growth of Islamic funding.
Whatever the prospective upheaval, Saxena thinks the most recent innovations could quickly up banking institutions’ compliance applications, where generative AI’s speed and precision could incorporate reputational exposure to problems like dollars laundering, and so forth.
The Global FinTech Awards established sector benchmarks and inspire innovation by encouraging excellence in digital banking, payment technological know-how, fraud verification and much more!