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Employment relationships in the United Arab Emirates are governed by Federal Law No.8 of 1980 Regulating Labour Relations as amended by Federal Laws No.24 of 1981, No.15 of 1985 and No.12 of 1986 (the Labour Law). The Labour Law provides that an employment contract can be terminated in the following ways.
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- employees
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- termination
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On 14 December 2009, UAE’s stock market shot up in excess of 10% following the announcement of the due repayment of $ 4.1 billion to the Sukuk holders of Nakheel Development Limited following a $ 10 billion support payment from Abu Dhabi to the Government of Dubai.
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- commercial
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- tribunal
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Most businesses in the United Arab Emirates are practiced by way of commercial agencies. In the UAE such arrangements are governed by Federal Law number 18 of 1981 (the “Commercial Agency Law”).
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01 Apr '09Recently, the Federal National Council passed a credit information law for the UAE. This law reflects the maturing nature of the nation’s knowledge-based economy, as information is seen as a pillar of such an economy.
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