RIYADH: Dr. Khalid Al-Nowaiser has been selected as a member of the International Court for Commercial Arbitration affiliated with the International Chamber of Commerce, and Hussam Al-Hujailan as his deputy.
The Federation of Saudi Chambers commended the pioneering status of the Kingdom at several international organizations.
Al-Nowaiser said: “It is my pleasure to become a member of the International Court for Commercial Arbitration, which is one of the most important nongovernmental international organizations that are related to commercial arbitration and its applications.”
He also praised the efforts of the international body and the support it offers to various business sectors.
The International Court for Commercial Arbitration is an institution for the resolution of international commercial disputes. It operates under the auspices of the International Chamber of Commerce and consists of more than 100 arbitrators from around 90 countries.
It does not issue formal judgments. It provides “judicial supervision of arbitrations proceedings.” Headquartered in the French capital Paris, the court’s official working languages are English and French. It was founded in 1923.
Members of the ICC Court are appointed to three-year terms by the ICC World Council on the recommendation of ICC “national committees” or groups.
The umbrella organization, the International Chamber of Commerce, promotes international trade, responsible business conduct, and a global approach to regulation, in addition to providing market-leading dispute resolution services.
Two Saudis join international arbitration court
https://arab.news/yax7j
Two Saudis join international arbitration court
- The International Court for Commercial Arbitration is an institution for the resolution of international commercial disputes
Saudi Arabia announces new financial support to the Yemeni government
RIYADH: Saudi Ambassador to Yemen and Supervisor of the Saudi Program for the Development and Reconstruction of Yemen Mohammed Al-Jaber announced that the Kingdom, under the directives of its leadership, has provided new support to the Yemeni government's budget, aimed at paying the salaries of state employees in all sectors.
In a post on X, Al-Jaber stated that this support complements a package of development projects and initiatives, amounting to SR1.9 billion, announced on Wednesday. The package includes provision of necessary petroleum derivatives to operate power plants, which will contribute to improving the living standards of people in Yemen and alleviating daily burdens on them.
Al-Jaber’s post emphasized, in particular, that all salaries of military and security forces linked to the the higher military committee linked to the Saudi led Coalition will be paid as of Sunday.
The post is likely relate to Several Media reports which have suggested that disgraced former Southern Transitional Council (STC) chief Aidaroos Al Zubaidi — who has now fled Yemen — was taking advantage of military personnel and withholding salaries as means of pressure. Al-Zubaidi is wanted by the Yemeni government for acts of high treason and corruption.
The ambassador emphasized that these steps come within the framework of supporting the Yemeni government's efforts to implement the economic reform program, which aims to achieve financial and economic stability and enhance the state's ability to meet its basic obligations.
