Financial free zone Abu Dhabi Global Market (ADGM) committed to a partnership with RAK International Corporate Centre (RAK ICC) and ADGM Courts on Wednesday, under which businesses in Ras Al Khaimah can have their dispute cases heard in Abu Dhabi.
“The Memorandum of Understanding [between] RAK ICC, ADGM and ADGM Courts ensures that commercial entities registered with RAK ICC will have relevant information and timely access to common law-based dispute resolution services provided by ADGM and ADGM Courts,” ADGM said.
The three authorities have also committed to exchanging information and ideas to businesses and investors and explore mutually beneficial activities, it added.
ADGM Courts are common law courts that have a judiciary comprising judges from the world’s leading common law jurisdictions, such as Singapore and Hong Kong
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“We want to provide RAK ICC clients with an alternative dispute resolution and arbitration system to help them resolve issues they may face,” said the RAK ICC chairman Sheikh Ahmed bin Saqr Al Qasimi,
"As always, RAK ICC will remain committed to building relationships with other entities to provide our clients with premier services."
Ahmed Al Sayegh, the chairman of ADGM added: “This [partnership] dovetails well with our commitment to providing internationally-aligned arbitration and dispute resolution services that support UAE-based companies and commercial entities.
“It is also important to stress that ADGM Courts’ regulations and ADGM’s Arbitration regulations provide a regime for the enforcement of ADGM Courts’ judgments and ADGM arbitral awards, respectively, within and outside the jurisdiction of ADGM.”
Ways to control drones
Countries have been coming up with ways to restrict and monitor the use of non-commercial drones to keep them from trespassing on controlled areas such as airports.
"Drones vary in size and some can be as big as a small city car - so imagine the impact of one hitting an airplane. It's a huge risk, especially when commercial airliners are not designed to make or take sudden evasive manoeuvres like drones can" says Saj Ahmed, chief analyst at London-based StrategicAero Research.
New measures have now been taken to monitor drone activity, Geo-fencing technology is one.
It's a method designed to prevent drones from drifting into banned areas. The technology uses GPS location signals to stop its machines flying close to airports and other restricted zones.
The European commission has recently announced a blueprint to make drone use in low-level airspace safe, secure and environmentally friendly. This process is called “U-Space” – it covers altitudes of up to 150 metres. It is also noteworthy that that UK Civil Aviation Authority recommends drones to be flown at no higher than 400ft. “U-Space” technology will be governed by a system similar to air traffic control management, which will be automated using tools like geo-fencing.
The UAE has drawn serious measures to ensure users register their devices under strict new laws. Authorities have urged that users must obtain approval in advance before flying the drones, non registered drone use in Dubai will result in a fine of up to twenty thousand dirhams under a new resolution approved by Sheikh Hamdan bin Mohammed, Crown Prince of Dubai.
Mr Ahmad suggest that "Hefty fines running into hundreds of thousands of dollars need to compensate for the cost of airport disruption and flight diversions to lengthy jail spells, confiscation of travel rights and use of drones for a lengthy period" must be enforced in order to reduce airport intrusion.
Notable cricketers and political careers
- India: Kirti Azad, Navjot Sidhu and Gautam Gambhir (rumoured)
- Pakistan: Imran Khan and Shahid Afridi (rumoured)
- Sri Lanka: Arjuna Ranatunga, Sanath Jayasuriya, Tillakaratne Dilshan (rumoured)
- Bangladesh (Mashrafe Mortaza)
COMPANY PROFILE
Name: SmartCrowd
Started: 2018
Founder: Siddiq Farid and Musfique Ahmed
Based: Dubai
Sector: FinTech / PropTech
Initial investment: $650,000
Current number of staff: 35
Investment stage: Series A
Investors: Various institutional investors and notable angel investors (500 MENA, Shurooq, Mada, Seedstar, Tricap)
