Category: Legal Updates
Saudi Arabia’s New Investment Law: Paving the Way for Sustainable Growth
On 11 August 2024, the new investment law of Saudi Arabia was published pursuant to Royal Decree No. (M/19) dated 16/01/1446 H (the “New Investment Law”). The New Investment Law replaces the current Foreign Investment...
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PRACTICAL INSIGHTS INTO THE EGYPT EX-ANTE MERGER CONTROL REGIME AND THE MOST RECENT ROUNTABLE DISCUSSIONS HELD BY THE REGULTOR
INTRODUCTION: On 26 May 2024, the Egyptian ex-ante (pre-approval) merger control regime was substantiated with updated filing forms and a visualised infographic that serves as a practice guide to ensure an informed kick-off of the...
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New minimum wage for private sector employees in Egypt
In an attempt to improve workers’ productivity and general welfare, the National Wages Council approved a decision to raise the minimum wage for employees working in the private sector by 71% starting 1 May 2024....
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Egypt Issues New Merger Control Regime Under the Executive Regulations of the Competition Law
On 4 April 2024, the Egyptian Prime Minister issued Decree No. 1120 of 2024 (“Decree“) introducing significant amendments to the Executive Regulations of the Egyptian Competition Law (Law No. 3 of 2005 concerning the Protection...
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Egypt’s Cabinet Approves New Executive Regulations for Revised Competition Law
The Cabinet of Ministers in Egypt has granted approval for the Executive Regulations (“Amended Executive Regulations”) accompanying the newly revised Egyptian Competition Law (“Egyptian Competition Law”), marking a significant milestone in the legislative evolution of...
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The Kingdom of Saudi Arabia Accelerates AI Investment with $40 Billion Fund
In a bold move reflecting its role as “market maker” and leader in the development, and deployment, of artificial intelligence (“AI”), the Kingdom of Saudi Arabia (“Saudi Arabia“) plans to create a US$40 billion fund...
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OVERVIEW ON THE NEW DECREES REGULATING AGENCIES IN UAE – SERIES 1
INTRODUCTION: The Minister of Economy in the United Arab Emirates (“UAE“) has issued a couple of decrees regulating agencies’ activities and framework in the UAE. These are Decree No. (214) of 2023 on Registration of...
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Understanding New principle released by Egyptian Court of Cassation/ Appeal No.169 of Judicial year 90
In the Egyptian legal system, evidence law principles form the basis of fair trials and justice. Central to this system is the rule of burden of proof, which delineates the responsibility of parties to prove...
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Taxation of Foreign Banks in Dubai: A Continuation of the Status Quo
The core of this update is the clarification provided by the Dubai government regarding the taxation of banking profits. This new decree does not introduce a new tax. On the contrary, the critical takeaway is...
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