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Bahrain, Singapore to Establish International Commercial Court

The treaty aims to promote the international rule of law and boost international trade
The treaty aims to promote the international rule of law and boost international trade
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Bahrain, Singapore to Establish International Commercial Court

The treaty aims to promote the international rule of law and boost international trade
The treaty aims to promote the international rule of law and boost international trade

Bahrain and Singapore have signed a treaty to establish the Bahrain International Commercial Court (BICC) in Bahrain and a designated body in Singapore.

The treaty was signed by Nawaf bin Mohammed Al Maawda, Minister of Justice, Islamic Affairs and Endowments, and Kasiviswanathan Shanmugam, Minister for Home Affairs and Minister for Law of Singapore during a virtual meeting.

The treaty aims to promote the international rule of law and boost international trade by developing transformative systems for the resolution of disputes in international trade and endorsing a transnational system of commercial justice.

Al Maawda said the treaty is a transformative step towards strengthening the rule of law and promoting access to justice on the international level.

The treaty provides a framework for cooperation between the two countries to ensure the interests and rights of the international business community, he added.

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Norway Wealth Fund Divests from Israel's Bezeq over West Bank Settlements

FILE PHOTO: A view of new buildings around the Israeli settlement Talmon B near the Palestinian town of Mazraa Al-Qibleyeh near Ramallah, in the Israeli-occupied West Bank, November 20, 2024. REUTERS/Mohammed Torokman/File Photo
FILE PHOTO: A view of new buildings around the Israeli settlement Talmon B near the Palestinian town of Mazraa Al-Qibleyeh near Ramallah, in the Israeli-occupied West Bank, November 20, 2024. REUTERS/Mohammed Torokman/File Photo
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Norway Wealth Fund Divests from Israel's Bezeq over West Bank Settlements

FILE PHOTO: A view of new buildings around the Israeli settlement Talmon B near the Palestinian town of Mazraa Al-Qibleyeh near Ramallah, in the Israeli-occupied West Bank, November 20, 2024. REUTERS/Mohammed Torokman/File Photo
FILE PHOTO: A view of new buildings around the Israeli settlement Talmon B near the Palestinian town of Mazraa Al-Qibleyeh near Ramallah, in the Israeli-occupied West Bank, November 20, 2024. REUTERS/Mohammed Torokman/File Photo

Norway's sovereign wealth fund, the world's largest, has sold all of its shares in Israel's Bezeq as it provides telecoms services to the Israeli settlements in the occupied West Bank, it said late on Tuesday.
The decision comes after the fund's ethics watchdog, the Council on Ethics, adopted a new, tougher interpretation of ethics standards for businesses that aid Israel's operations in the occupied Palestinian territories, Reuters reported.
Bezeq is Israel's largest telecoms group.
"The company, through its physical presence and provision of telecom services to Israeli settlements in the West Bank, is helping to facilitate the maintenance and expansion of these settlements, which are illegal under international law," the Council on Ethics said in its recommendation to divest.
"By doing so the company is itself contributing to the violation of international law," it added.
The watchdog said it noted that the company had said it was also providing telecoms services to Palestinian areas in the West Bank, but that did not outweigh the fact that it was also providing services to Israeli settlements.
The watchdog makes recommendations to the board of the Norwegian central bank, which has the final say on divestments.
The fund has now sold all its stock in the company.