International commercial arbitration in the Middle East: how the major arbitration institutions work in practice, and how they compare

Article Abstract:

There are many commercial arbitration institutions available for international arbitration in the Middle East, such as the American Arbitration Association, Permanent Court of Arbitration and Euro-Arab Arbitration System. Involved parties must decide whether having a set of rules and protocols to follow will speed their arbitration and therefore reduce costs or whether ad hoc arbitration where uncooperative behavior can stall proceedings is the better option. The philosophy and rules of various institutions are included.

Business Associations, Analysis, International aspects, Middle East, Commercial arbitration, Arbitrators

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New capital market law makes important changes

Article Abstract:

Oman's Capital Market Law has been amended by Sultani Decree dated Nov 9, 1998. The amendments, which will be implemented on Jan 15, 1999, will address issues affecting the securities market, including listing, trading, regulation, collective investment vehicles and the establishment of a body which will have the power over securities and exchange activities. The body, called the Capital Market Public Authority, will have regulatory authority over the listing and trading of securities.

Regulation, Licensing, and Inspection of Miscellaneous Commercial Sectors, Security brokers and dealers, Securities Brokerage, Listing & Registration, Stockbrokers, Securities industry, Capital market, Capital markets, Securities law

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Oman further reforms its income tax regime

Article Abstract:

The Sultani Decree 26/99 and Sultani Decree 27/99, which were both promulgated on March 17, 1999, are laws instituted to reform Oman's income tax regime. Under the Sultani Decree 26/99, a flat rate charge of 12% is mandated for taxable income that belongs to the category having the lowest rates. Taxable persons included in the category includes wholly Omani-owned firms, investment funds and Omani-owned sole proprietorships engaged in trade or industry.

Public Finance Activities, Tax Rates, Tax reform, Tax policy

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