Abu Dhabi’s newly formed commercial court has helped resolve a major dispute in record time.
The judgement was delivered within just 12 days, whereas previously it would have taken three months on average for something similar.
The case, valued at AED 52 million was related to a sale contract between an international holding company and a bank.
Around 1,500 judicial decisions have been issued by the new court which was set up less than two months ago to deal with commercial cases.
Ukraine imposes first wartime tax hikes
President Volodymyr Zelenskiy signed into law on Thursday Ukraine's first wartime tax increases as the war against Russia reaches its 34th month.
Dubai Chambers, Standard Chartered to support global expansion of local businesses
Dubai Chambers and Standard Chartered signed a Memorandum of Understanding (MoU) to enhance collaboration aimed at fostering the growth of UAE businesses and supporting their expansion into promising global markets.
OPEC+ postpones output policy meeting to December 5
The OPEC+ alliance of oil-producing countries has postponed its next meeting on output policy to December 5 from December 1 to avoid a conflict with another event, OPEC said on Thursday.
UAE, Philippines expand cooperation
The UAE and the Philippines have signed key agreements in several new areas of cooperation, including in culture, energy transition, AI, and diplomacy, during President Marcos’ working visit to the UAE this week.
Microsoft faces wide-ranging US antitrust probe
The US Federal Trade Commission has opened a broad antitrust investigation into Microsoft, including of its software licensing and cloud computing businesses, a source familiar with the matter said on Wednesday.
Marking the annually observed Martyr's Day on November 30, President His Highness Sheikh Mohamed bin Zayed Al Nahyan expressed deep gratitude to those who gave their lives "defending justice, peace, and the principles of humanity."
Dubai Police and the Knowledge and Human Development Authority in Dubai (KHDA) signed a memorandum of understanding (MoU) to enhance the school education system by creating a safe and sustainable learning environment.
Several UAE rulers have pardoned hundreds of prisoners in their respective emirate ahead of the 53rd Eid al-Etihad on December 2, the latest being Umm al-Quwain.
