Saudi General Authority for Competition Seeks to Uncover Violations

Photo of a supermarket in Saudi Arabia (Asharq Al-Awsat)
Photo of a supermarket in Saudi Arabia (Asharq Al-Awsat)
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Saudi General Authority for Competition Seeks to Uncover Violations

Photo of a supermarket in Saudi Arabia (Asharq Al-Awsat)
Photo of a supermarket in Saudi Arabia (Asharq Al-Awsat)

The Saudi General Authority for Competition completed the interconnection with more than 5 public entities to provide them with available data and enable them to analyze prices and build indicators for early detection of collusion in government competitions, in addition to creating more than 30 indicators and a dashboard that helps them in controlling markets.

The authority aims to adopt the competition-stimulating policies, combat illegal monopolistic practices, in order to improve market performance, support the consumer and business sector confidence, and contribute to investments flow and sustainable development.

A report issued by the Authority, a copy of which was reviewed by Asharq Al-Awsat, uncovered 15 undeclared merger and acquisition deals in the past year, against which the authority took a number of legal measures.

The information and communications sectors, as well as the manufacturing industries, were the leading sectors in which unreported deals were monitored.

At the same time, the Authority revealed that it received 316 applications for economic concentration operations (mergers and acquisitions) over the past year, mainly in the manufacturing sector, followed by information and communication technology.

It dealt with 117 complaints during the same period, the largest number of which was in the retail and wholesale sectors, followed by construction.

GAC board of directors approved its strategy for the years 2022-2025, which includes four strategic axes, 11 goals and more than 20 initiatives. The authority aims to direct its resources to promote fair competition in the markets, thus contributing to achieving the goals of Vision 2030.

 

 



‘Smile 2’ Grinning to No. 1 at Box Office; ‘Anora’ Glitters in Limited Release

This image released by Paramount Pictures shows Ray Nicholson in a scene from "Smile 2." (Paramount Pictures via AP)
This image released by Paramount Pictures shows Ray Nicholson in a scene from "Smile 2." (Paramount Pictures via AP)
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‘Smile 2’ Grinning to No. 1 at Box Office; ‘Anora’ Glitters in Limited Release

This image released by Paramount Pictures shows Ray Nicholson in a scene from "Smile 2." (Paramount Pictures via AP)
This image released by Paramount Pictures shows Ray Nicholson in a scene from "Smile 2." (Paramount Pictures via AP)

Horror movies topped the domestic box office charts and an Oscar contender got off to a sparkling start this weekend. “Smile 2,” in its first weekend, and “Terrifier 3” in its second proved to be the big draws for general movie audiences in North America, while the Palme d’Or winner “Anora” got the best per-theater average in over a year.

“Smile 2" was the big newcomer, taking first place with a better than expected $23 million, according to studio estimates Sunday. Parker Finn returned to write and direct the sequel to the supernatural horror “Smile,” his debut. Originally intended for streaming, Paramount pivoted and sent the movie to theaters in the fall of 2022. “Smile” became a sleeper hit at the box office, earning some $217 million against a $17 million budget.

The sequel, starring Naomi Scott as a pop star, was rewarded with a bit of a bigger budget, and a theatrical commitment from the start. Playing on 3,619 screens, it opened slightly higher than the first's $22 million, The Associated Press reported.

Second place went to Universal and DreamWorks Animation’s “The Wild Robot” in its fourth weekend with $10.1 million, bumping it past $100 million in North America. Family films often have long lives in theaters, particularly ones as well reviewed as “The Wild Robot,” and some have speculated that it got a bump this weekend from teenagers buying tickets for the PG-rated family film and then sneaking into “Terrifier 3,” which is not rated, instead.

Either way, Damien Leone’s demon clown movie, which cost only $2 million to produce, is doing more than fine with legitimate ticket buyers. It added an estimated $9.3 million, bringing its total to $36.2 million.

“Rumors like that are PR gold,” said Paul Dergarabedian, the senior media analyst for Comscore. “There’s no better indication that that movie is red hot right now."
The No. 1 openings for “Smile 2” this weekend and “Terrifier 3” last were only possible because of the failure of “Joker: Folie à Deux.” That big budget sequel continued its death march in its third weekend, falling another 69% to earn $2.2 million, bringing its domestic total to $56.4 million.
Warner Bros. has a better performer in “Beetlejuice Beetlejuice,” which placed fourth in its seventh weekend with an additional $5 million, bringing its domestic total to $284 million. Star Michael Keaton also had another film open this weekend — the father-daughter dramedy “Goodrich” which stumbled in with only $600,000 from 1,055 locations.
Rounding out the top five was the romantic tearjerker “We Live In Time,” which expanded to 985 theaters following last weekend's debut on 5 screens. The A24 release starring Andrew Garfield and Florence Pugh earned $4.2 million over the weekend. Audiences were 85% under 35 and 70% female, according to exit polls. The well-reviewed film will expand further next weekend.
One of the other brightest spots of the weekend was Sean Baker’s “Anora,” which opened in six locations in New York and Los Angeles and earned an estimated $630,000. That’s a $105,000 per theater average, the best since “Asteroid City’s” $142,000 average last summer. The Neon release, a sensation at Cannes and a likely Oscar contender, stars Mikey Madison as a New York sex worker who falls for the son of a Russian oligarch.
After several weeks of would-be awards contenders and buzzy films (“Piece by Piece,” “Saturday Night,” “The Apprentice” among them) fizzling with audiences, “Anora’s” success is a promising sign that moviegoers will still seek out arty, adult fare.
"For moviegoers, there’s a lot on offer with something in every type of movie in every category," Dergarabedian said. “I think we’re going to have a really strong home stretch with a great combination of movies big and small.”
The Walt Disney Co. also made a splash with several re-releases. “The Nightmare Before Christmas” got a place in the top 10 with $1.1 million, while “Hocus Pocus” made $841,000.
Next weekend will have a major studio comic book movie with “Venom: The Last Dance” as well as an awards movie in the papal thriller “Conclave" vying for audience attention.