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… Read more
National Consumer Holding company (NCHC), a leading industrial investment company based out of Kuwait, has entered into a binding agreement to acquire Cozmo Entertainment General Trading (Cozmo). Meysan, a leading corporate law firm in Kuwait, played a major role in helping NCHC sign binding documentation for the acquisition of 100… Read more
I. General Authority for Competition (GAC) decision dated 28 March 2023 On March 28, 2023, the Saudi General Authority for Competition (GAC) approved a decision to raise the minimum turnover threshold for merger control filings from SAR 100 million to SAR 200 million. In a press release dated 29 March… Read more
In recent years, mergers have become the primary agent for transformation and expansion within the legal industry. The objectives behind these mergers are largely aligned with firms aiming to achieve similar goals. There has been a considerable interest in mergers in the legal industry throughout the year 2022 and the… Read more
The UAE authorities have announced an extension to the deadline for employees to enroll in the national Unemployment Insurance Scheme. Previously, the deadline was set for the end of June, with fines to be imposed starting from July 1. According to a circular from the Ministry of Human Resources and… Read more
The UAE Ministry of Finance consistently introduces a series of new Ministerial Decisions under Federal Decree-Law No. (47) of 2022 on the Taxation of Corporations and Businesses. These decisions have a collective objective of bolstering the regulatory framework governing corporate and business taxation in the UAE. By offering clearer guidelines… Read more
The Ministry of Commerce and Industry (MOCI) issued Decision No. 82/2023, targeting small companies engaged in activities of private nature without employees, physical commercial premises, and without the need for regulatory approval from any authority other than the MOCI. This decree aims to provide support and incentives to such businesses.… Read more
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