Category: Legal Updates
Qatar’s New Law No. 12 of 2024 on Qatarisation of Jobs in the Private Sector: Key Considerations for Businesses
Qatar’s Law No. 12 of 2024 (the “Qatarisation Law”), published in the October 2024 Official Gazette, is a landmark piece of legislation that follows a regional trend to promote local participation in the private sector....
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Navigating Qatar’s Foreign Investment Law: Opportunities and Challenges
In recent years, the State of Qatar has implemented a number of economic reforms consistent with regional trends—including the liberalization of foreign direct investment (“FDI”), allowing foreign investors 100% ownership of companies incorporated in the...
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Breaking News for Companies in the TMT Sector in Qatar
On 23 October 2024, the National Data Privacy Office (“NDPO”) of the Qatar National Cyber Security Agency (“NCSA”) issued Resolution No. 1 of 2024, obliging an unnamed company in the telecommunications and information technology sector...
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New Rules for Debt Crowdfunding Activities in Saudi Arabia
The Saudi Central Bank (“SAMA”) has issued the rules governing Debt Crowdfunding Activities (the “Crowdfunding Rules”) that can be undertaken by debt crowdfunding companies and their digital platforms. SAMA is vested with the powers of...
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UAE Cancels Economic Substance Reporting
NEWS ALERT! The United Arab Emirates (“UAE”) has officially abolished the requirement on resident companies to submit economic substance reports for the financial years starting from 01 January 2023 and after. This came through Cabinet...
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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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