On 30 May 2023, the CPA announced that it has fined a company a total amounting to 5% of its total revenues. The company, who runs a booking application platform, had failed to secure CPA’s consent prior to completing the economic concentration process.
Based on CPA Law no. 72 of 2020 and its subsequent resolutions, companies must comply with the CPA regulations if a transaction exceeds the CPA determined thresholds and leads to control, or increased existing control, of the relevant market.
The CPA decision presents a timely reminder that clients need to (i) remain vigilant when conducting business in Kuwait and (ii) seek external lawyers’ advice at the outset to carefully consider the application of the CPA Law and its Executive Regulations.
The CPA Law permits the affected company to file a grievance before the CPA Disciplinary Board, and such decision will be deemed final.
On August 6, 2024, the Saudi Arabian government introduced amendments to the Labor Law issued by Royal Decree No. (M/51) dated 23/8/1426 AH, as amended. These changes aim to improve working conditions, clarify employer obligations, and enhance worker rights. The revisions include amendments to thirty-eight articles, deletion of seven articles,… Read more
The prevalence of restrictive clauses in contracts with a Kuwaiti nexus, introduced by both service providers and product suppliers, has become a notable feature in the business landscape. These clauses often seek to limit client autonomy by restricting the resale of purchased goods or engagement with competing service providers. However,… Read more
After much anticipation, Egypt’s Prime Minister issued Decree No. 1120 of 2024 (Decree) revealing the long-awaited amendments to the Competition Act’ executive regulations (Regulations). By way of background, in December 2022, the Egyptian Competition Act underwent a major overhaul with the introduction of a pre-merger control regime that grants the… Read more
The business and economic landscape of Kuwait just changed. With the ratification of the first law of 2024: Law Regarding the Amendment of Article 24 of the Commercial Law and Article 31 of the Public Tenders Law (1/2024) (the “Foreign Company Amendments Law”) on 21 January 2024, foreign companies now… Read more
The Kingdom of Saudi Arabia has introduced a series of groundbreaking premium residency options. Dr. Majid bin Abdullah Alkassabi, Chairman of the Premium Residency Center announced five distinctive categories—special talent, gifted, investor, entrepreneur, and real estate owner residencies. This strategic move, harmonizing with Vision 2030's objectives, positions Saudi Arabia as… Read more
The Egyptian Competition Authority (the “ECA”) has traditionally been known for its aggressive stance towards historically tolerated anti- competitive acts. To live up to its slogan, “a stronger economy…for a better life”, it recently began shifting its focus to awareness-raising (in parallel with enforcement), a much-needed step in a market… Read more