Jones Day has hired Herbert Smith Freehills’ Middle East finance head Nadim Khan, who joined the firm to launch its Dubai office in 2007.
Clifford Chance reworks Saudi arrangements with new association
Following talk of contention with local authorities over the legality of its Saudi Arabia office, Clifford Chance (CC) has reworked its operations in the region, and entered into an association with newly-established Abuhimed Alsheikh Alhagbani Law Firm (AS&H).
Continue reading “Clifford Chance reworks Saudi arrangements with new association”
‘A natural and necessary next step’: Pinsents to launch infra-focused practice in Johannesburg
Pinsent Masons is to launch an infrastructure-focused practice in Johannesburg, with two partners hired from local firm Bowman Gilfillan.
‘Do we believe in Africa?’
As we reported in our dispute resolution Insight ‘Clause and effect’ last year, Africa has become a disputes hotspot. With a fall in commodities prices leading to abandoned projects, disputes work is becoming even more plentiful.
Discussing dispute resolution in a developing continent comprising 54 disparate jurisdictions can lead to huge generalisations, but when it comes to arbitration there seems to be a case for a pan-African focus. The UNCITRAL Model Law on International Commercial Arbitration has been implemented in a number of African countries, while the Organisation for the Harmonization of Business Law in Africa (OHADA) – covering 17 states in west and central Africa – has created a legal community with unified arbitration legislation and a common arbitration court. There has also been a proliferation of arbitration institutions throughout Africa. However, many of these institutions remain untested and do not have the support of the court system. Continue reading “‘Do we believe in Africa?’”
‘A local foothold’: Mayer Brown opens doors in Dubai
Mayer Brown has opened the doors to its Dubai Office, six months after appointing two Baker & McKenzie partners to lead the outpost.
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Running on empty – how to survive in the Middle East in the era of cheap oil
Oil price volatility is a fact of life in the Middle East. At below or around $40 a barrel, the region has been dealt a hard dose of realism. Developing economic models that rely less on oil and gas revenues is now the order of the day, while national governments have had to rein in notoriously lavish spending programmes.
Law firms that rushed into the Middle East as it became a significant driver of global economic activity amid soaring oil prices a decade ago, now have to review their strategies. Continue reading “Running on empty – how to survive in the Middle East in the era of cheap oil”
Middle Eastern resilience
JLegal’s Richard McLerie discusses the region’s legal market.
Over the past 12 months, the region has endured a period punctuated by numerous challenges, principle among which is arguably the depression in oil prices and the ongoing danger posed by militant groups destabilising significant areas of the region. The wider ramifications of these factors cannot be covered exhaustively here. However, of notable importance in the context of the legal market is how some of the more stable jurisdictions, notably that of the UAE, which continues to stand out as the hub from which firms operate their regional offering, have benefited from the migration of wealth into the more stable, internationally-underpinned markets from wider areas of the Middle East deemed, at least for the time being, unacceptably risky locations in which to invest.
Key legislative developments in the UAE
Afridi & Angell’s James Bowden highlights four of the latest legal updates.
In the past year the UAE saw an unusual number of important legislative developments. For this feature, we have picked a few of the key developments to summarise briefly. This is by no means exhaustive.
Withers launches tax practice in key Middle East hub with hire of EY private client chief
Withers continues its international expansion with a deal to launch a practice in Dubai with the hire of EY’s Middle East and North Africa (MENA) private client chief Stijn Janssen.
The office will be located in the Dubai International Financial Centre (DIFC) following regulatory approval. Janssen led the MENA private client services team at EY and co-headed its Dubai international tax group since 2013. He was previously involved in the launch of Loyens & Loeff’s Dubai arm in 2008. Continue reading “Withers launches tax practice in key Middle East hub with hire of EY private client chief”
Value range – as the money pours in, can Israel takes its high-growth stars global?
Israel’s regional tensions contrast with optimistic hopes for foreign investment and a burgeoning economy. While war still rages over the border in nearby Syria, Israel’s start-up and hi-tech sector is flourishing. In addition, its nascent natural gas industry finally looks primed for substantial development.
Life is good in Israel’s commercial capital Tel Aviv, says Barry Levenfeld, a partner at Yigal Arnon & Co: ‘Economically and politically, Israel remains stable, while our neighbours are more dangerous by the minute. Sitting here on the 47th floor in Tel Aviv, looking across the Mediterranean and with all the restaurants and coffee houses below, you just wouldn’t know that any of this was going on.’ Continue reading “Value range – as the money pours in, can Israel takes its high-growth stars global?”