Category: Legal Updates
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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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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