On Monday, 15 November 2021, the Ministry of Human Resources and Emiratization announced Federal Law No. 33 of 2021 which was issued by His Highness Sheikh Khalifa bin Zayed Al Nahyan, president of the UAE. The new law, which will come into effect on 2 February 2022, will bring a number of much needed changes to protect employee rights in the ever-growing labor market and increase flexibility and competitiveness.
UAE Federal Law No. 33 of 2021 to Bring Much Needed Reform to The Labor Market
The Dubai Court of Cassation issued Resolution No. 1 of 2021, which reverses the Court’s previous ruling regarding interest rates applied on adjudged amounts where no contractual agreement on the applicable interest exists.
Dubai Court of Cassation applies an important change to market interest rate