DUBAI / WAM Dubai International Financial Centre (DIFC) has proposed to enact amendments to the Prescribed Company Regulations. The proposed regulations seek to significantly expand and simplify the current Prescribed Company (“PC”) regime in the DIFC. Jacques Visser, Chief Legal Officer, DIFC Authority, said: “Since the introduction of the Prescribed Company Regulations in 2019, DIFC has committed to keeping the …

SHARJAH / WAM Sharjah National Oil Corporation (SNOC) has completed a deal to acquire from Eni a 30% participating interest in Block 7 in Ras Al Khaimah, which extends over an area of 430 square kilometres and sees significant activity in oil and gas exploration with the ongoing drilling of an exploratory well called Fennec-01. Following the deal, Eni, as …

WORLD CAPITALS / WAM Gold prices firmed on Friday, poised for their best week since early April, following US economic data that boosted bets of an interest rate cut from the Federal Reserve, Reuters said. Spot gold gained 0.3% to $2,353.43 per ounce by 0450 GMT, hitting their highest in more than two weeks. Prices have risen 2.3% so far …