DIPLOMACY-

UAE, Chad finalize terms of CEPA pact: UAE and the Republic of Chad finalized terms for their comprehensive economic partnership agreement (CEPA), UAE’s state news agency Wam reports. This came during the UAE–Chad Trade and Investment Forum taking place in Abu Dhabi this week, where the central African nation secured USD 20.5 bn backing — two-thirds of the funding needed for its five-year national development plan Chad Connection 2030 — through agreements with multilateral financial institutions and the private sector.

REGULATION WATCH-

DWTC firms can now issue multiple share classes: The Dubai World Trade Center Authority (DWTCA) introduced a new framework allowing companies registered in the DWTC FreeZone to issue different classes of shares beyond standard ordinary shares, according to a statement. The reform expands capital structuring options for registered firms effective immediately.

What this means: Firms can now issue a wider variety of shares, beyond ordinary shares, which offer all shareholders equal rights, including preference, restricted, and tiered shares ranging from A to D, each affording a different level of rights to shareholders. A company may set and define specific details — such as distinct voting, dividend, transfer, redemption, or conversion rights for each class — by amending its Memorandum of Association, providing more flexibility in governance and investment structures.

The rules cater to founders, too: The framework enables equity-based incentive schemes and succession planning mechanisms, particularly relevant for startups and family-owned businesses.

The rationale: The update aligns DWTC FreeZone’s rules with global jurisdictions that permit differentiated ownership and control structures. It follows DWTCA’s 2024 jurisdiction extension to One Za’abeel, which expanded its regulatory remit, along with another regulatory framework update from October, which allowed freezone firms to operate in mainland Dubai.

SHIPPING + MARITIME-

Al Seer Marine is on an expansion spree: IHC’s maritime solutions subsidiary Al Seer Marine has completed the expansion of its commercial shipping division — landing 18 vessels to its fleet over the span of three years, according to a press release (pdf). The final two very large gas carriers VLGCs — Megrez (86.9k cbm capacity) and Mizar (88k cbm) — brought the fleet size of Al Seer’s JV with Geneva-based energy trader BGN ABGC to five vessels.

ICYMI- The JV received a third VLGC back in September, which was delivered by South Korea’s Hyundai Samho Heavy Industries. It can carry up to 88.4k cbm and is kitted out with ammonia-carrying capacity.

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