On 5 March 2019, the Council of Ministries approved a new Competition Law (the New Law) which was issued by Royal Decree No. (M/75) dated 6 March 2019 and was published in the Official Gazette on 29 March 2019. It will come into force 180 days following its publication date (i.e. towards the end of September 2019).
Leading international law firm Baker McKenzie has been voted “Financial Services M&A Legal Adviser of the Year” and “Consumer M&A Legal Adviser of the Year” at Mergermarket‘s Middle East and North Africa (MENA) M&A Awards 2019 in Dubai on 10 April 2019.
End of Service Gratuity (EOSG) rules have been long established in the United Arab Emirates (UAE) and the Kingdom of Saudi Arabia (KSA) and seem, at least on the face of it, straightforward. On termination of employment, employees in the UAE and the KSA are entitled to receive an EOSG provided that certain qualifying conditions are fulfilled.
The political and economic boycott of Qatar, which began on 5 June 2017 when Saudi Arabia, the United Arab Emirates, Bahrain and Egypt cut diplomatic ties with the State of Qatar and imposed restrictions on the movement of good s and individuals to and from Qatar, continues to have a significant impact on trade in the Middle East and has caused significant disruption to supply chains.