Saudi Arabia Files Criminal Cases against 35 Firms for Competition Breaches

A food commodities market in Saudi Arabia (Asharq Al-Awsat)
A food commodities market in Saudi Arabia (Asharq Al-Awsat)
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Saudi Arabia Files Criminal Cases against 35 Firms for Competition Breaches

A food commodities market in Saudi Arabia (Asharq Al-Awsat)
A food commodities market in Saudi Arabia (Asharq Al-Awsat)

Saudi Arabia’s General Authority for Competition (GAC) received 340 complaints last year, most of them related to the wholesale and retail sector, and referred 35 firms for criminal proceedings over anti-competitive practices, according to a new report seen by Asharq Al-Awsat.

The authority also reviewed settlement requests from 34 companies and took enforcement action against 22 entities found to be in violation of the Kingdom’s competition law.

The report showed that GAC received 317 economic concentration requests in 2024 and issued non-objection decisions for 202 of them. Another 105 were deemed not subject to reporting requirements, while 10 applications were still under review at year-end. No merger requests were rejected during the period.

The authority intensified its enforcement efforts by ramping up oversight and crackdowns on anti-competitive behavior. Investigations into the 340 complaints led to criminal referrals for 35 companies, it said.

Over the year, GAC carried out 459 monitoring and investigation operations and launched eight public awareness initiatives aimed at promoting a culture of compliance and fair competition.

To enhance the efficiency of its investigative tools, the authority developed a digital forensics and data analysis lab, enabling its inspectors and investigators to process evidence more accurately and efficiently. The move bolstered the authority’s ability to intervene and enforce regulations more effectively.

The GAC conducted in-depth studies on competition fairness in key sectors such as data, auditing, and management consulting. It also evaluated the impact of algorithms and artificial intelligence on market dynamics—efforts that informed policies aimed at fostering fair competition while balancing innovation and consumer protection.

These studies helped identify both challenges and opportunities, laying the groundwork for regulatory frameworks that support a more sustainable and competitive economic environment.

To improve governance and operational maturity, the authority rolled out internal digital platforms to track key indicators, manage projects, and streamline internal service requests. These upgrades helped accelerate decision-making and improve institutional efficiency.

Most departments have also updated their internal policies and procedures in line with global best practices, the report said, as part of broader efforts to enhance transparency and achieve strategic alignment across the organization.

In a major digital milestone, the authority received national enterprise architecture certification from the Digital Government Authority, after successfully adopting the government’s enterprise architecture framework to improve customer experience through enhanced digital channels.

Throughout the year, the GAC continued developing its regulatory environment and governance practices. It activated settlement tools to help companies remain operational while easing their financial burdens.

The authority reviewed laws, regulations, and policy proposals, participating in 61 legislative processes—most initiated by the GAC itself, while others responded to requests from government bodies or public consultations.

The report underlines GAC’s commitment to creating a robust, transparent regulatory landscape that promotes compliance and boosts institutional performance.

 



Saudi Stock Market Edges Lower in First Session of the Week

An investor monitors a stock screen at the Saudi financial market in Riyadh (AFP)
An investor monitors a stock screen at the Saudi financial market in Riyadh (AFP)
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Saudi Stock Market Edges Lower in First Session of the Week

An investor monitors a stock screen at the Saudi financial market in Riyadh (AFP)
An investor monitors a stock screen at the Saudi financial market in Riyadh (AFP)

Saudi Arabia’s stock market index ended trading slightly lower, falling 0.25 percent to close at 10,968 points, amid trading turnover of around SAR2.9 billion, the lowest level since January 2026.

Mining giant Maaden fell 2 percent to close at SAR62.7, while SABIC declined by the same percentage to SAR59.4. Arabian Drilling slipped 1 percent to SAR86.6.

In the banking sector, Saudi National Bank shares fell 0.26 percent to SAR38.5.

Meanwhile, Saudi Aramco, the index’s heaviest-weighted stock, rose 0.3 percent to close at SAR27.78.

ACWA Power also gained 2 percent to SAR181.10.

Kingdom Holding rose 6 percent to SAR11.01, while Solutions climbed 4 percent to close at SAR229.6.


Oman Inflation Rises 3.2% in April

Shoppers at a food and beverage store in Oman. (Reuters)
Shoppers at a food and beverage store in Oman. (Reuters)
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Oman Inflation Rises 3.2% in April

Shoppers at a food and beverage store in Oman. (Reuters)
Shoppers at a food and beverage store in Oman. (Reuters)

Oman’s consumer price index (CPI) rose 3.2 percent in April compared with the same month in 2025, based on 2018 as the reference year.

The National Center for Statistics and Information said in data carried by the Oman News Agency on Sunday that average inflation during the period from January through April increased by 2.6 percent.

The data showed that the miscellaneous personal goods and services group recorded the highest increase at 9.2 percent, followed by food and non-alcoholic beverages at 6.2 percent, and transport at 6 percent.

The food and non-alcoholic beverages group recorded increases across most categories in April compared with the same month last year, led by vegetables at 25 percent, followed by fruits at 11.6 percent, and fish and seafood at 6.1 percent.

The data also showed varying inflation rates across Oman’s governorates at the end of April compared with the corresponding period last year. Al Dhahirah Governorate recorded the highest increase at 4.4 percent, followed by Al Dakhiliyah and Muscat governorates at 3.7 percent, and Al Buraimi Governorate at 3.5 percent.


Gulf, International Initiative to Assess War’s Impact on Private Sector

A previous meeting of the Federation of GCC Chambers in Riyadh. (SPA)
A previous meeting of the Federation of GCC Chambers in Riyadh. (SPA)
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Gulf, International Initiative to Assess War’s Impact on Private Sector

A previous meeting of the Federation of GCC Chambers in Riyadh. (SPA)
A previous meeting of the Federation of GCC Chambers in Riyadh. (SPA)

Asharq Al-Awsat has learned of a joint initiative by the Federation of GCC Chambers and the International Labor Organization to conduct a rapid assessment of the impact of the war on the private sector and labor markets across Gulf Cooperation Council countries.

The initiative is expected to contribute directly to the formulation of actionable recommendations aimed at preserving labor market stability and supporting business continuity.

The initiative seeks to assess the impact of the current crisis and conflict on private sector institutions, with particular focus on small and medium-sized enterprises, as well as on labor markets across GCC states.

According to the information obtained, the Federation of GCC Chambers has asked private sector companies and institutions across member states to document the impact of the war, whether they market their products domestically or in regional and international markets.

The federation is also seeking to determine the effects of the current regional crisis on supply chains and private sector operations, including delays in receiving imported inputs, shortages of critical materials affecting operations, higher transportation and logistics costs, and disruptions in the distribution of goods and services to markets and customers.

It is also examining the direct impact of disruptions to maritime trade routes, including the Strait of Hormuz, on businesses, particularly in terms of rerouting shipments through alternative routes or transport methods, difficulties shipping or receiving goods by sea, increased shipping and insurance costs, declining import and export volumes, and shipment or order delays and cancellations.

The federation has further requested information on the extent to which the crisis has affected overall operating expenses, whether significantly, moderately or not at all, as well as its impact on companies’ investment plans, including whether firms intend to cancel, reduce or indefinitely postpone investments, or instead increase spending to adapt, restructure or respond to new conditions.

Among the challenges the federation is seeking to assess are companies’ ability to cover operating and fixed costs, revenue conditions, and the immediate measures taken regarding their workforce in response to the crisis, including reducing working hours, shifting employees to part-time arrangements, freezing recruitment and hiring, cutting wages and benefits, or reallocating staff to different roles and functions.

Secretary-General of the Gulf Cooperation Council Jasem Albudaiwi recently said that a series of Gulf economic and financial achievements had strengthened regional integration and reinforced financial stability in the face of evolving challenges.

Speaking during the 125th meeting of the GCC Financial and Economic Cooperation Committee in mid-May, Albudaiwi said the current war crisis requires Gulf states to move beyond traditional coordination toward a higher level of practical integration and effective response.

He said the accelerating crises and growing economic challenges facing the region underscore the urgent need for a conscious response and measures capable of mitigating their impact on GCC economies, which have long been characterized by openness and deep engagement with the global economy.

Albudaiwi also stressed the need to expedite the completion of key joint Gulf projects, including transportation and logistics initiatives, while accelerating implementation of the GCC railway project and strengthening the regional electricity interconnection network.

He further called for studying the establishment of oil and gas pipeline networks, a GCC water interconnection project, strategic Gulf stockpile zones, and measures to ensure adequate liquidity reserves at central banks.