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The Comprehensive Economic Partnership Agreement (CEPA) between the UAE and the Democratic Republic of the Congo officially took effect on October 30. The agreement eliminates tariffs on most product lines and streamlines customs procedures following bilateral non-oil trade reaching $3.5 billion in 2025. It marks the UAE's 20th CEPA to enter into force under its trade expansion program.
Omani authorities and Chinese delegates met on October 31 to explore expanding bilateral trade and industrial investments in Gulf economic and free zones. Discussions emphasized regulatory incentives, port logistics, and links between Gulf businesses and China's Hainan Province. Both delegations also confirmed intentions to develop coordinated frameworks for foreign direct investment.
The Central Bank of the UAE has imposed a Dh200 million fine on an authorized foreign bank branch over recurring anti-money laundering violations. Individual fines of Dh500,000 and Dh300,000 were also issued against the bank's CEO and compliance head, respectively. Regulators mandated independent remediation and a Fit and Proper reassessment of branch leadership.
The Dubai Civil Court has ordered a client to pay AED 13.74 million in outstanding contractual legal fees to a law firm. The ruling established that the client's courtroom admission of non-payment constituted a binding judicial acknowledgement that cannot be retracted.
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