The 2-Minute Rule for Arabian Finance Awards
The 2-Minute Rule for Arabian Finance Awards
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Bahrain and Dubai are positioning by themselves as Islamic finance hubs, and applying generative AI would seem a all-natural progression that might have international implications for the two tech-centered economies.
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Investment has also been catalysed through the renewed push for diversification, with foreign expenditure ever more inspired by regional governments. This has led the IMF to boost its financial advancement predictions to 3.nine per cent over another twelve months, In line with its Regional Financial Outlook
Islamic banking companies situated in the Gulf Cooperation Council (GCC) countries continue on to grow their arrive at, taking up Shariah-compliant transactions in new industries and establishing new strategic partnerships.
This Tribunal accepts the skilled impression of Mr. Dufour as remaining objective and reasoned, correctly and amply supported by the evidence of true industry gross sales to serve as reputable comparables. His approach, Examination with the gross sales information and conclusions are persuasive.
Infrastructure improvement particularly has accelerated while in the context of quite a few substantial-profile international functions, notably Expo 2020 Dubai as well as the 2022 FIFA Globe Cup in Qatar. Qatar is forecast to invest $220bn in planning for the tournament, which incorporates the development of an entirely new metropolis, Lusail, that includes a 90,000-seat stadium where by the final sport is going to be held.
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131. Disputed Defence of Economic Hardship o r Drive Majeure Under the Legislation on the United Arab Emirates. Gulf Jet and Al Meeza assert that Gulf Jet wasn't in breach of its obligations for payment under the Leases as Those people obligations grew to become not possible to execute by purpose with the severe financial disaster which occurred in Dubai adhering to the financial downturn commencing in September 2008. It is alleged that for factors past the Charge of Gulf Jet, it turned not possible for Gulf Jet to function and exploit the usage of the leased Cessna jets exclusively by reason from the economic crisis inside the Emirate of Dubai. Considering the fact that no take advantage of the Leases and the plane might be acquired by Gulf Jet, for no fault of its individual, it is asserted that "the Lessee In cases like this is entitled to discontinue the Lease Inspite of any provision in the deal on the contrary. In these instances, no default might be attributed on the Lessee" (see Remedy of Gulf Jet at paragraph 3.four). Instead, underneath the Guidelines of the Emirate of Dubai, it's asserted that a choose "will have the choice to endorse the discontinuity with the lease or decrease the burden to a reasonable extent." Gulf Jet also characterizes this defence since the" occurrence of the power majeure getting the economic crisis" at paragraph four.3 of the Answer Gulf Jet. This defence is much more completely set out by Gulf Jet at paragraphs 1.six, one.7, one.8, three.three, 3.4 and four.three of its Response. Cessna forcefully resists this argument in Claimant's Memorial at paragraphs 63 to 66. 132. There are actually numerous explanation why this argument of Gulf Jet are not able to be successful and does not give rise to a valid defence to the breach on the Leases otherwise demonstrated through the Claimant. 133. To start with, In spite of the numerous reliance by Gulf Jet on a law of the United Arab Emirates or maybe a regulation of the Emirate of Dubai, none was recognized for correct assessment and consideration to determine the applicability of this kind of broad principle of power majeure on the Leases in this case.
two. In the event the compound of your action shall include belongings inside the point out or a legacy of a citizen or an estate submitted in the state.
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Submission might be in prepared type or video and may solution the criteria points for every category. At the time finish submission can only be acknowledged via the official submission type which you'll be able to now accessibility.
Go away was also granted While using the consent of Respondent two for certain from the Claimant's witnesses, which includes professional Kenneth Dufour, to look with the deserves hearing by way of movie conference for that needs of cross-examination
Regardless of the opportunity upheaval, Saxena thinks the newest improvements could swiftly up banks’ compliance courses, the place generative AI’s velocity and accuracy could include reputational publicity to problems which include funds laundering, etcetera.
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