Category: Legal Updates
LESSONS LEARNED: SAUDI DAWN RAIDS
INTRODUCTION: In a dynamic market such as that of the Kingdome of Saudi Arabia (“KSA”), it is envisioned that regulatory authorities will be very active in monitoring and dealing with potential and de facto practices...
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UAE to Implement 15% Corporate Tax on Large Multinational Companies
The United Arab Emirates (UAE), known for its conducive business climate, is set to introduce a 15% corporate tax on large multinational companies (MNCs). This initiative reflects the UAE’s commitment to adhering to international economic...
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Client Alert: Significant Global Data Breach Incident – December 2024
GLA has recently been engaged by a number of global and regional companies (the “Affected Data Controllers”) who have been impacted by a significant data breach. The data breach incident, which the Affected Data Controllers...
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A New Era for Digital Trade in Kuwait: MOCI’s Draft Law Aims to Transform Kuwait’s E-Commerce Sector
On December 4, 2024, the Ministry of Commerce and Industry (“MOCI”) held a conference to discuss a proposed draft law on digital commerce. The law aims to organize the rapidly growing commercial sector by establishing...
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QFC Data Protection Office Imposes Financial Liabilities for Data Protection Breaches
In September of this year, the QFC Data Protection Office (“DPO”) announced that a QFC-licensed firm (“Firm”) was reprimanded and fined USD 150,000 for multiple breaches of the QFC Data Protection Regulations and Rules, issued...
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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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