The business and economic landscape of Kuwait just changed. With the ratification of the first law of 2024: Law Regarding the Amendment of Article 24 of the Commercial Law and Article 31 of the Public Tenders Law (1/2024) (the “Foreign Company Amendments Law”) on 21 January 2024, foreign companies now… Read more
The Kingdom of Saudi Arabia has introduced a series of groundbreaking premium residency options. Dr. Majid bin Abdullah Alkassabi, Chairman of the Premium Residency Center announced five distinctive categories—special talent, gifted, investor, entrepreneur, and real estate owner residencies. This strategic move, harmonizing with Vision 2030's objectives, positions Saudi Arabia as… Read more
The Egyptian Competition Authority (the “ECA”) has traditionally been known for its aggressive stance towards historically tolerated anti- competitive acts. To live up to its slogan, “a stronger economy…for a better life”, it recently began shifting its focus to awareness-raising (in parallel with enforcement), a much-needed step in a market… Read more
Recently, Kuwait has initiated some significant economic liberalization initiatives. Kuwait’s National Assembly enacted major reforms to the Commercial Law and Public Tenders Law, effectively removing the longstanding requirement for foreign companies to operate through local agents within the country. On July 16, 2023, the Financial and Economic Affairs Committee of… Read more
On 5 December 2023, the Ministry of Investment of Saudi Arabia (“MISA”), in collaboration with the Ministry of Finance and the Zakat, Tax and Customs Authority (“ZATCA”), officially announced a 30-year tax relief program as an incentive to attract foreign global companies to establish their regional headquarters (“RHQ”) in the… Read more
The Executive Regulations of Federal Law No. 15 of 2020 on Consumer Protection have recently been enacted through Federal Cabinet Resolution No. 66 of 2023 in the United Arab Emirates. These regulations, which took effect on 14 October 2023, offer crucial insights into the Consumer Protection Law (Federal Law No.… Read more
Earlier this month, Fawry, Egypt’s leading e-payments solutions provider found itself under heavy fire for being the subject of a cyberattack. On 8 November, Fawry denied the claims of a cyberattack and issued a statement refuting the allegations. Fawry stated that it “categorically denies all reports on social media platforms… Read more
In a major Victory for Agility, this Action is a Bellwether of Whether there is a True Rule of Law for Those Who Invest in Iraq Three years ago, an international arbitration tribunal constituted under the auspices of the International Centre for the Settlement of Investment Disputes (ICSID) denied claims… Read more ...
In a landmark decision, Meysan succeeded in obtaining an administrative court ruling overturning a decision by Kuwait’s Capital Markets Authority. Meysan represented a shareholder in a local logistics company who submitted a whistleblower complaint to the CMA, alleging that the company had failed to properly comply with local disclosure obligations,… Read more ...
Abu Dhabi, UAE - In a significant legal victory, Meysan has successfully secured a favorable judgment for its client, Al Farwaniyah Property Developments LLC, in a high-stakes litigation involving claims exceeding 137,000,000 UAE dirhams. The case originated when a bank initiated legal proceedings against Al Farwaniyah and other parties, seeking… Read more ...
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