Alkem Laboratories partners with Abdulaziz Alsheikh to incorporate subsidiary in KSA
The subsidiary is proposed to be incorporated as a limited liability company and will be involved in the manufacture, import, marketing and distribution of pharmaceutical and/or nutraceutical products within the Kingdom of Saudi Arabia.
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Time of India
9 hours ago
- Time of India
Saudi Justice Ministry launches unified translation services on e-Litigation platform to speed up court cases
The Ministry of Justice now handles all judicial translation requests digitally through the e-Litigation platform, improving speed and accuracy/ Image: File The Ministry of Justice in Saudi Arabia has formally launched a centralized translation service through its e-Litigation platform, streamlining all judicial translation processes to support efficient legal communication and case handling. A system-wide overhaul of judicial translation services The Unified Translation Center is now operational on the e-Litigation platform, enabling centralized management of judicial translation requests. The service encompasses the entire translation process, from the initial request by a beneficiary to completion, within a single digital workflow. The platform automates the receipt of translation requests, which can originate from lawsuits or judicial departments, and coordinates their assignment to translators. It also provides tools for monitoring and supervision, ensuring the status of each request can be tracked throughout its lifecycle. The integration allows beneficiaries, such as litigants, legal representatives, and courts, to follow the progress of their translation requests step-by-step, aiming to improve the quality, speed, and efficiency of translation services within judicial procedures. Addressing language barriers in Saudi courts The Unified Translation Center, under the Ministry of Justice, offers remote interpretation services for non-Arabic speakers during court hearings. By utilizing videoconferencing and the e-Litigation system, interpreters, including those specializing in sign language, can assist in real time, ensuring accurate understanding between judicial panels and individuals involved in legal proceedings who do not speak Arabic. This initiative was launched with a clear goal: to eliminate communication barriers in courtrooms and legal environments, providing transparent interpretation to safeguard due process and individual rights. It emphasizes accuracy and ensures that non-Arabic speakers are given full clarity and participation during legal procedures. Platform access through Najiz The Najiz platform, which serves as the Ministry of Justice's unified digital services portal, hosts the translation functionality. In August 2023, the Ministry introduced a dedicated feature on Najiz titled 'Request for an Interpreter'. This allows non-Arabic speaking users to request translation services directly online. Najiz is part of a broader effort by the Ministry to provide comprehensive judicial services digitally, aimed at improving user experience and service accessibility. Institutional context and evolution The Ministry of Justice is one of the most longstanding government entities in Saudi Arabia. Established by Royal Order in 1962, the Ministry was tasked with overseeing all courts and fulfilling their administrative and financial needs. Although it was founded in 1962, the Ministry began executing its formal duties in 1970 under the leadership of the first appointed Minister of Justice, Mohammed Bin Ali al-Harkhan, who served until 1975. Among all ministries under the Council of Ministers, the Ministry of Justice is one of only three that has never undergone a name change, merger, or dissolution, the others being the Ministry of Foreign Affairs and the Ministry of Health. The Ministry is headquartered in Riyadh and is managed by a Minister appointed via Royal Order, who also holds membership in the Council of Ministers. Vision 2030 and strategic justice reforms The broader modernization of judicial services, including digital translation and litigation processes, is aligned with the national transformation program Saudi Vision 2030. The Ministry's active reform phase began after the first meeting of the Council of Economic and Development Affairs in 2016, where His Royal Highness Prince Mohammed Bin Salman, Crown Prince and Prime Minister, launched the Vision. As part of this alignment, the Ministry of Justice adopted thirteen strategic goals, all contributing to systemic improvements across its various sectors. These sectors include: Judiciary Enforcement Documentation Reconciliation Advocacy Judicial Training Center Each plays a role in transforming legal services to be more efficient, accessible, and aligned with global standards.
Mint
a day ago
- Mint
The gilded gambler: Dwarkanath Tagore's rise and ruin in colonial Bengal
Sundeep Khanna Once among Bengal's richest men, Dwarkanath Tagore built a sprawling business empire under the British, only to see it collapse in spectacular fashion. Dwarkanath Tagore is remembered as much for his flamboyant top hats and tailored coats as for the hefty profits he drew from the colonial exploitation of impoverished indigo farmers. (Illustration: Tarun Kumar Sahu/Mint) Gift this article Even in the sparsely populated gallery of 19th-century Indian business history, Dwarkanath Tagore is little more than a footnote, his reputation long eclipsed by that of his Nobel Prize-winning grandson, Rabindranath. Yet in his own time, Dwarkanath was one of Bengal's most dazzling buccaneer capitalists: a man as notable for his flamboyant top hats and tailored coats as for the handsome profits he extracted from colonial exploitation of impoverished indigo farmers. Even in the sparsely populated gallery of 19th-century Indian business history, Dwarkanath Tagore is little more than a footnote, his reputation long eclipsed by that of his Nobel Prize-winning grandson, Rabindranath. Yet in his own time, Dwarkanath was one of Bengal's most dazzling buccaneer capitalists: a man as notable for his flamboyant top hats and tailored coats as for the handsome profits he extracted from colonial exploitation of impoverished indigo farmers. Though he ended his gilt-edged life in debt and exile, he deserves to be remembered as someone struggling to forge an Indian capitalist identity under colonial constraints. Born in 1794 into a zamindar family at the sprawling Jorasanko estate in north Kolkata, a colonnaded labyrinth of salons and courtyards that doubled as a theatre of influence, Dwarkanath grew up in a world where Bengali traders and reformers mingled with the British over European dinners, sketching out the blueprint for an Anglo-Indian elite. Apprenticeship with a British barrister quickly taught him that the empire was not just a political or military force, but a vast, underexploited economic opportunity. The East India Company had brought with it the tools of modern capitalism: joint-stock companies, commercial banking, industrial ventures, commodity trade. Most Indian merchants steered clear; Dwarkanath waded straight in. In 1834 he co-founded Carr, Tagore & Company—the first India–Europe partnership of equal interests—as a proto–joint stock conglomerate managing opium trading, coal shipping, and banking. Two years earlier, in 1832, he had acquired the Raniganj coal mine, later consolidating rivals into the Bengal Coal Company, which gave him near-monopoly power in the eastern belt. He also established the Great Western of Bengal Railway Company to link his mines to Kolkata by rail. Also Read | Cowasjee Readymoney's pioneering path from profit to purpose At a time when British banks dominated India's financial system, Dwarkanath founded the Union Bank in 1828 to serve Indian zamindars, industrialists, and traders excluded from formal banking channels. But his fortunes were fatally tethered to British markets, British credit, and British favour. He was as much a creation of imperial patronage as of personal acumen, and therein lay his undoing. His business style invited suspicion: over-leveraging on a spectacular scale, speculative land deals, and the entrapment of farmers in debt. The Union Bank, lacking formal controls, functioned largely as an in-house financier for under-collateralised ventures, many of them his own. In the 1840s, as commodity prices fell and credit tightened, the global economy slowed. The bank's exposure proved fatal, and by its collapse in 1848, it had lost ₹ 4.7 lakh to defaults and mismanagement. But before the fall came one last hurrah. On a visit to London in 1842, Dwarkanath was greeted by Queen Victoria, feted by the press as 'Prince Dwarkanath," painted by society artists, and welcomed into elite circles. Beneath the glitter, however, he was catastrophically overextended. His debts mounted; his assets crumbled. In 1846 he died alone in London, buried in Kensal Green Cemetery, a bitter irony for a man who had staked everything on being accepted as an equal within the imperial order. Dwarkanath's life foreshadowed the boom-and-bust cycles that would define Indian capitalism in the late 19th century. He was both pioneer and cautionary tale: too compromised to be a national icon, too visionary to be dismissed as a mere colonial collaborator. His son Debendranath turned away from commerce toward spirituality, dismantling much of what his father had built. The Tagore name would be resurrected decades later through Rabindranath's literary genius, the kind of global recognition that had eluded the family's capitalist patriarch. Dwarkanath believed the British Empire could be an equalising force, that capital might transcend colour, that a brown man in a waistcoat could claim his place among peers. It was an illusion that cost him everything. His tragedy lay in the very vision that had elevated him, and in the end, destroyed him. Still, he stands as India's first modern capitalist: brilliant, flawed, and undone by the system he sought to master. Topics You May Be Interested In
Time of India
2 days ago
- Time of India
Saudi Arabia approves digital ID to allow foreigners to own property ahead of 2026 law
The Non-Saudi Real Estate Ownership Law will come into force on 21 January 2026, 180 days after its publication in July 2025/ Representative image In a landmark move reshaping property rights in Saudi Arabia, the government has approved the use of a digital identity system for non-Saudi, non-resident foreigners to own real estate. This comes ahead of sweeping changes under the newly passed Non-Saudi Real Estate Ownership Law, set to take effect in early 2026. New digital ID pathway for property ownership Saudi Arabia's Cabinet has officially sanctioned the use of digital identification for non-resident foreigners who wish to own property in the Kingdom. This digital ID must be obtained and activated through the Absher platform, a secure digital service operated by the Ministry of Interior. The rollout of this digital access mechanism is being coordinated by the General Real Estate Authority, in partnership with the Ministry of Interior, the Saudi Data and Artificial Intelligence Authority (SDAIA), the National Information Center, and other relevant government bodies. These entities will work together to define and implement the operational mechanisms necessary to activate and manage digital IDs for foreign property buyers. by Taboola by Taboola Sponsored Links Sponsored Links Promoted Links Promoted Links You May Like No annual fees for life UnionBank Credit Card Apply Now Undo The decision is intended to lay the groundwork for the enforcement of the new Non-Saudi Real Estate Ownership Law, approved by the Council of Ministers in July 2025 and scheduled to take effect on 21 January 2026, 180 days following its publication in the Official Gazette ( Umm Al-Qura ) on 25 July 2025. As part of the transition, draft executive regulations for the law have already been published. These specify that foreign individuals must: Obtain a digital ID through the Absher platform Open a Saudi bank account Secure a local contact number These prerequisites are mandatory before any non-resident foreigner can legally acquire, own, or use real estate in the country. Inside the non-Saudi real estate ownership law The newly introduced Non-Saudi Real Estate Ownership Law repeals the earlier framework established under the Law of Real Estate Ownership and Investment by Non-Saudis of 2000 (1421H). The updated legislation represents a significant modernization of Saudi Arabia's approach to foreign property rights. Structured across 15 articles, the law defines a 'Non-Saudi' broadly. The term includes: Foreign individuals (residents or non-residents) Companies not incorporated under Saudi law Foreign non-profit organizations Any other legal persons as determined by the Council of Ministers For the first time, this legal framework allows foreign individuals and entities to own or acquire rights to real estate within designated zones throughout the Kingdom. These zones will be identified and approved by the Council of Ministers and are expected to open up significant parts of the country for foreign investment. Scope, restrictions, and implementation timeline While the law grants broader access to real estate for foreigners, it also introduces new limitations and obligations. Geographic and religious restrictions: Ownership rights in Makkah and Madinah remain tightly regulated. Non-Saudis may only acquire property in these two holy cities if they are Muslim. This condition underscores the sensitive nature of ownership in religiously significant areas. Commercial and investment access The law includes specific provisions for: Foreign-incorporated companies Investment funds Special-purpose entities These entities will now be able to participate in Saudi Arabia's property market under defined conditions and oversight. Fees and penalties: A disposal fee of up to 5% may apply to property sales or transfers by foreign owners. In cases of legal violations, penalties may include: Fines of up to SAR 10 million Forced sale of the involved property Law implementation: Approved: 14 July 2025 by Council of Ministers Resolution No. (M/14) Published: 25 July 2025 in Umm Al-Qura Effective Date: 21 January 2026 Regulatory bodies and enforcement mechanisms Oversight and governance for foreign property ownership are being formalized through a newly restructured board of the General Real Estate Authority. The board is now chaired by the Authority's CEO and includes: Representatives from various ministries Officials from key government bodies Three members from the private sector A dedicated committee will be formed within the authority's board to monitor and enforce the provisions of the law, including overseeing usufruct rights (the legal right to use and benefit from a property owned by another). In line with the broader goals of Vision 2030, the Saudi government is aiming to create a transparent, accessible, and well-regulated property market that can attract international investment while preserving the Kingdom's religious, social, and security interests.
