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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
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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.

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Gulf

Coalition Intercepts Houthi Ballistic Missile Targeting Khamis Mushait

Major General Turki Al-Malki, Spokesperson for the Coalition to Restore Legitimacy in Yemen (Asharq Al-Awsat)
Major General Turki Al-Malki, Spokesperson for the Coalition to Restore Legitimacy in Yemen (Asharq Al-Awsat)
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Coalition Intercepts Houthi Ballistic Missile Targeting Khamis Mushait

Major General Turki Al-Malki, Spokesperson for the Coalition to Restore Legitimacy in Yemen (Asharq Al-Awsat)
Major General Turki Al-Malki, Spokesperson for the Coalition to Restore Legitimacy in Yemen (Asharq Al-Awsat)

Official Spokesperson of the Coalition to Restore Legitimacy in Yemen Major General Turki Al-Malki stated on Friday that a ballistic missile launched by the terrorist Houthi militia toward Khamis Mushait was intercepted and destroyed.

Gulf

Arab and Islamic Bodies Condemn Houthi Attack on Power Station in Saudi Arabia’s Madinah

File photo of the Saudi flag/AAWSAT
File photo of the Saudi flag/AAWSAT
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Arab and Islamic Bodies Condemn Houthi Attack on Power Station in Saudi Arabia’s Madinah

File photo of the Saudi flag/AAWSAT
File photo of the Saudi flag/AAWSAT

Several Arab and Islamic bodies on Friday condemned a Houthi attack that targeted a power station in Saudi Arabia’s Madinah that supplies electricity to the Prophet’s Mosque and other civilian facilities.

Kuwait, Qatar, the Arab League, the OIC, Egypt, Lebanon, Sudan, the Muslim World League, the Arab Parliament president, GCC, Al-Azhar, and the Presidency of Religious Affairs at the Grand Mosque and the Prophet's Mosque condemned the attack, saying it violated the Kingdom's sovereignty and breached international law.

The condemnations described the attack as a threat to civilian infrastructure and expressed solidarity with Saudi Arabia, while stressing the need to protect holy sites and civilian facilities from attacks.

They also renewed full solidarity with Saudi Arabia and reaffirmed support for the Kingdom in confronting attacks targeting its security, stability, and sovereignty, as well as the safety of its citizens and residents.

Gulf

Coalition: Terrorist Houthi Militia Targets Taibah Power Distribution Station in Madinah

Damage is seen at the station from the Houthi attack. (SPA)
Damage is seen at the station from the Houthi attack. (SPA)
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Coalition: Terrorist Houthi Militia Targets Taibah Power Distribution Station in Madinah

Damage is seen at the station from the Houthi attack. (SPA)
Damage is seen at the station from the Houthi attack. (SPA)

Official Spokesperson of the Coalition to Restore Legitimacy in Yemen Major General Turki Al-Malki announced on Thursday that the terrorist Houthi militia in Yemen was behind a terrorist attack on the Taibah electricity distribution station in Madinah.

The attack took place at 5:11 am on Tuesday. The investigation and evidence gathered by the relevant authorities confirmed the involvement of the Houthi militia in planning and executing this “cowardly” terrorist act, based on after action review and the wreckage of the drone used.

The attack resulted in one power transformer being taken out of service, without affecting the electricity network.

Debris of the drone used by the terrorist Houthi in the attack. (SPA)

“The cowardly terrorist act, targeting a civilian facility providing electricity to the Prophet's Mosque in Madinah, is a continuation of this extremist militia's attempts to target the Two Holy Mosques and their deliberate provocation of millions of Muslims worldwide by targeting Makkah and Madinah,” said Al-Malki.

“The Coalition continues to take and implement measures to deter the terrorist Houthi militia, ensuring the protection of the Two Holy Mosques and the safety of the pilgrims in Makkah and Madinah,” he stressed.

Secretary-General of the Gulf Cooperation Council (GCC) Jasem Albudaiwi strongly condemned the attack.

He stressed that “this heinous Houthi attack has crossed all red lines, represents a blatant provocation to the sentiments of Muslims across the world, and constitutes a grave escalation in violating the sanctity of Islamic holy sites.”

It reveals “an aggressive approach that disregards religious and humanitarian values as well as international laws and norms, particularly in light of repeated attempts to target the Two Holy Mosques and their surrounding areas.”

Damage is seen at the plant as a result of the Houthi attack. (SPA)

Albudaiwi underscored the GCC member states' “steadfast and unwavering stance alongside Saudi Arabia and their full solidarity in confronting anything that threatens its security, stability, and sovereignty.”

He reiterated “complete support for all measures taken by the Kingdom to protect its territory, citizens, residents, and pilgrims,” stressing that the security of the Kingdom and its holy sites “is an integral part of the collective security of the GCC, and that any threat to the Kingdom is a threat to the security of all GCC member states.”

The Jordanian government condemned the Houthi attack as an “outrageous violation of Saudi Arabia's sovereignty, a threat to its security, stability, and territorial integrity, and a clear breach of international law and the UN Charter.” 

Official Spokesperson of the Jordanian Ministry of Foreign Affairs Ambassador Fuad Al-Majali expressed Jordan's full solidarity with Saudi Arabia.  

He reaffirmed Jordan's support for all measures taken to ensure the security and safety of its citizens and residents. 

President of the Arab Parliament Mohamed Al-Yammahi strongly condemned the attack, stressing that “such criminal acts constitute a flagrant violation of the sanctity of holy sites, provoke the feelings of Muslims around the world, and threaten the security and stability of the region, rather than the Kingdom’s security alone.” 

Al-Yammahi affirmed the Arab Parliament’s full solidarity with Saudi Arabia and its support for all measures it takes to confront such terrorist acts.  

“Such terrorist acts will not undermine Saudi Arabia’s ability to protect its resources, security, and the safety of its citizens and residents,” he added.