Saudi Arabia to Implement Executive Regulations for New Competition Law on Sep. 25

Part of a workshop organized by the General Authority for Competition in the Chamber of Commerce and Industry in the Eastern Province (Asharqia Chamber) | Asharq Al-Awsat
Part of a workshop organized by the General Authority for Competition in the Chamber of Commerce and Industry in the Eastern Province (Asharqia Chamber) | Asharq Al-Awsat
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Saudi Arabia to Implement Executive Regulations for New Competition Law on Sep. 25

Part of a workshop organized by the General Authority for Competition in the Chamber of Commerce and Industry in the Eastern Province (Asharqia Chamber) | Asharq Al-Awsat
Part of a workshop organized by the General Authority for Competition in the Chamber of Commerce and Industry in the Eastern Province (Asharqia Chamber) | Asharq Al-Awsat

An official at the Saudi General Authority for Competition (GAC) has announced that the executive regulation of the new competition law will come into effect on September 25.

Director of Legal Affairs at GAC Abdulaziz al-Obaid said the new Saudi competition law has fostered flexibility to boost the economy and support business enterprises.

He pointed out that the law, comprising 91 articles and 11 chapters, extended exemptions and developed the procedures of mergers and acquisitions by examining mergers to allay fears of other competitors.

Obaid explained that the system will include all establishments, businessmen, and persons who do agricultural, industrial or service projects in the Saudi market, with the exception of public institutions that are wholly owned by the state or institutions authorized to provide goods and services in a specific field.

His remarks were made during a workshop organized bu GAC in the Chamber of Commerce and Industry in the Eastern Province (Asharqia Chamber) to introduce the new competition law amid wide business men's participation.

He pointed out that the draft law includes a chapter on the rules of reconciliation and settlement, a procedure applied for the first time in the new law.

The GAC shall receive a request for reconciliation from the establishment, which initiates evidence to disclose or be detectable partners in violations of the law provisions.

It shall also receive a settlement request from establishments that violate the law provisions.

The GAC board has the right to establish one or more permanent or temporary committees to consider applications for reconciliation or settlement and compensation for the victims.

The new law entitles the GAC to discuss establishments and requests to be provided with the necessary reports and data.

The new competition law seeks to bolster the economy’s efficiency, reduce the adverse effects on the economic and social system, create an attractive competitive environment for investments, provide a coherent, continuous and balanced development of economic activities, achieve fair prices and quality, in addition to enabling the private sector to engage in various economic activities.



World Defense Show in Riyadh Witnesses Signing of Important Agreements

Saudi Minister of Defense Prince Khalid bin Salman bin Abdulaziz signs an agreement with his Slovakian counterpart. SPA
Saudi Minister of Defense Prince Khalid bin Salman bin Abdulaziz signs an agreement with his Slovakian counterpart. SPA
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World Defense Show in Riyadh Witnesses Signing of Important Agreements

Saudi Minister of Defense Prince Khalid bin Salman bin Abdulaziz signs an agreement with his Slovakian counterpart. SPA
Saudi Minister of Defense Prince Khalid bin Salman bin Abdulaziz signs an agreement with his Slovakian counterpart. SPA

Saudi Minister of Defense and Vice Chairman of the Board of Directors of the General Authority for Military Industries (GAMI) Prince Khalid bin Salman bin Abdulaziz inaugurated in Riyadh the third edition of the World Defense Show, organized by GAMI until February 12.

At the Saudi Arabian Military Industries (SAMI) Group pavilion, the Defense Minister launched on Sunday SAMI Land Company, SAMI Autonomous Company, SAMI Land Industrial Complex, and the HEET Program.

He also unveiled the SAMI Local Content Program (RUKN), the group's flagship supply chain program.

Prince Khalid and his South Korean counterpart witnessed the signing of a memorandum of understanding between the Saudi General Authority for Defense Development and the Korean Agency for Defense Development.

The agreement focuses on defense research, development, and innovation in advanced military technologies and systems.

The Saudi Defense Minister also signed three defense cooperation agreements with Slovakia, Malaysia, and Somalia.

Furthermore, the National Industrial Development Center signed a cooperation memorandum with European aerospace corporation Airbus to explore opportunities for developing and localizing the aviation and helicopter industry in Saudi Arabia.

Under the memorandum, the two sides aim to strengthen collaboration to establish an integrated aviation industrial base in the Kingdom. They will study the creation of an engineering center to develop national capabilities in manufacturing, assembly, maintenance, and repair, alongside a supporting logistics network.

The agreement also covers technology and knowledge transfer, encouraging global suppliers to invest in Saudi Arabia, and developing Saudi talent through educational and training partnerships with domestic institutions. It includes coordination with relevant authorities to examine procurement options, support the shift toward exports, and explore incentives and financing mechanisms to enhance project readiness and competitiveness.

GE Aerospace and the Middle East Propulsion Company Ltd. (MEPC) announced signing three new agreements to enhance operational readiness for the Royal Saudi Air Force (RSAF) F110 fleet and build in-country capabilities.

Leveraging their decade-old partnership, are focused on the RSAF’s F110-129 engines and will also support F110-129 customers across the broader region.

These agreements represent Phase 3 of a long-term initiative, building on the success of similar Phase 1 and 2 agreements, which saw GE Aerospace providing repair and overhaul services support to MEPC.

The agreements seek to ensure sustained material supply and comprehensive maintenance and repair services support for the RSAF F110 Engine Structural Integrity Program (ENSIP).

They highlight the shared vision of both companies to advance the safety, efficiency, and operational excellence of defense aircraft in the wider Middle East.

MEPC Managing Director Mohammed Alnawkhani said: “These agreements represent the next phase of our strategic partnership with GE Aerospace and a major step forward in enhancing readiness for the RSAF F110 fleet.”

“Together, we are expanding in-Kingdom F110-129 sustainment capabilities, ensuring long-term material availability, and delivering the high standards of safety and performance required by our customers in the Kingdom and across the region.”

“This milestone also strengthens localization efforts in support of Saudi Vision 2030, contributing to national industrial development and building sovereign aerospace sustainment capabilities,” he added.

Salim Mousallam, Vice President, Defense & Systems for the Middle East, Africa, and Türkiye at GE Aerospace said that the enduring partnership with MEPC is a testament to the company’s shared vision of enhancing in-country capabilities and ensuring peak operational readiness through maximized availability for its customers.

“These agreements will significantly increase engine availability, streamline MRO processes, and directly support the RSAF’s critical missions. As a trusted partner to the Kingdom, we are proud to provide high-quality services to MEPC, reducing maintenance burden and service disruptions for their mission-critical F110 fleet,” he said.

Under the F110-129 Material Support Agreement, GE Aerospace will provide essential ENSIP Kits (F110-129 parts) to support MEPC in performing the necessary overhaul of RSAF F110-129 engines within the Kingdom.

The F110-129 repair and overhaul agreement further solidifies the provision of comprehensive repair and overhaul services specifically for the Royal Saudi Air Force fleet. GE Aerospace also signed a new F110-129 services agreement to extend critical repair and overhaul capabilities to support other F110 customers across the region.


Kuwait Includes 8 Lebanese Hospitals on 'Terror' List

Kuwait indicated that it had listed eight hospitals in Lebanon as part of regulations related to "combating terrorism.” KUNA
Kuwait indicated that it had listed eight hospitals in Lebanon as part of regulations related to "combating terrorism.” KUNA
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Kuwait Includes 8 Lebanese Hospitals on 'Terror' List

Kuwait indicated that it had listed eight hospitals in Lebanon as part of regulations related to "combating terrorism.” KUNA
Kuwait indicated that it had listed eight hospitals in Lebanon as part of regulations related to "combating terrorism.” KUNA

Kuwait's foreign ministry issued on Sunday a circular indicating that it had listed eight hospitals in Lebanon as part of regulations related to "combating terrorism.”

Lebanon's health ministry expressed surprise and said it would seek clarification.

It said it received the Kuwaiti statement "with great surprise", adding it had not been provided with "any information or notification from any Kuwaiti entity about this matter.”

"The hospitals mentioned in the statement are registered with the syndicate of private hospitals in Lebanon and carry out their role in providing treatment and health services to all Lebanese without exception," the ministry statement said.

It called the facilities "an essential part of the Lebanese health system,” and said it would contact the relevant authorities to request clarification and "protect Lebanon's health system.”

It noted that "Kuwait has numerous joint projects with the ministry... and has been among the most prominent countries that have stood by the health system during the successive crises that Lebanon has faced.”

The latest move was "unprecedented and inconsistent" with the Gulf country's usual approach, it added.


Saudi and Guatemalan FMs Discuss Bilateral Ties

The Saudi Minister of Foreign Affairs met on Sunday with his Guatemalan counterpart in Riyadh. SPA
The Saudi Minister of Foreign Affairs met on Sunday with his Guatemalan counterpart in Riyadh. SPA
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Saudi and Guatemalan FMs Discuss Bilateral Ties

The Saudi Minister of Foreign Affairs met on Sunday with his Guatemalan counterpart in Riyadh. SPA
The Saudi Minister of Foreign Affairs met on Sunday with his Guatemalan counterpart in Riyadh. SPA

Saudi Minister of Foreign Affairs Prince Faisal bin Farhan bin Abdullah met on Sunday with his Guatemalan counterpart Carlos Ramiro Martínez in Riyadh.

During the meeting, they reviewed bilateral relations and discussed developments of mutual interest.