Organised by Ameeraga Tamil Sangam, the event had participants from across the UAE
A new draft federal law on the regulation of commercial agencies may permit public joint-stock companies with at least 51% of national capital contribution to act as commercial agents.
Abdullah bin Touq Al Marri, Minister of Economy, said, "Only UAE nationals can act as commercial agents, which is similar to the position under the old law, but the new draft law gives the right for public joint-stock companies and public legal entities with at least 51% national capital contribution to register commercial agencies."
Al Marri's remarks came as the Federal National Council (FNC) is currently reviewing the new draft law.
"Now that 40 years have passed since the original law was drafted, only 6,000 commercial agencies have been registered, which is a modest figure considering the current economic potential boasted by the UAE and the conducive business environment in the country, the minister noted.
"The new draft law should provide more business opportunities for UAE citizens and allow new citizens to access the commercial agencies business, which is not provided by the current law, and it imposes some restrictions on the cancellation of commercial agencies even after the expiry of the contract term."
Under the proposed law, the agency contract terminates on the expiry of the contractually agreed term. In other words, the agency contract may be terminated after the end of its agreed term.
The new draft law on the cooperatives, the minister said, allows for the establishment of various forms of cooperatives in the country to benefit from the economic and development opportunities offered by this vital sector with a view to enhancing its contribution to the GDP.
Organised by Ameeraga Tamil Sangam, the event had participants from across the UAE
The esteemed initiative delivered essential grocery food baskets to around 5,000 deserving families across 14 Bangladeshi districts
Judges for the AI awards not only recognise excellence and innovation, but also assess performance and monitor progress in artificial intelligence computing and responses
A plea moved in court stated that no one is permitted to wear the official state institution outfit
Bayer Leverkusen boss Xabi Alonso had been the favourite to succeed Klopp but has now committed himself to the German club after leading them to a first-ever Bundesliga title
Sheikh Hamdan joined the kids as they browsed through some photos that captured how they used broomsticks and helped their community
The family's furniture, household appliances as well as the books and stationery of the children were destroyed in the April 16 floods
The 22-time Grand Slam champion and his wife Maria Francisca Perello welcomed their first child together in October 2022