Saudi Arabia’s business landscape is experiencing an unprecedented boom, with commercial company registrations soaring by 68% in just 20 months. The surge follows the implementation of a groundbreaking new Companies Law in January 2023, which has drastically streamlined business operations and fueled economic growth. By the end of Q3 2024, the number of registered companies …
In a decisive move to safeguard national and cultural identity, Saudi Arabia has issued a sweeping ban on the commercial use of symbols and logos tied to countries, as well as religious and sectarian emblems. The directive, introduced by Commerce Minister Dr. Majed Al-Qasabi, aims to curb exploitation and uphold respect for these symbols. Under …
Saudi Arabia Declares Crackdown on Unauthorized Symbol Use in Commerce Read More »
The South African Revenue Service (SARS) has long been known for its rigid stance on “bona fide inadvertent errors,” a designation that exempts taxpayers from harsh understatement penalties ranging from 10% to a staggering 200% of tax shortfalls. However, recent rulings by South Africa’s highest courts have shifted the landscape, offering clarity and a measure …
South Africa’s Tax Showdown: How the Constitutional Court Redefined Penalty Rules Read More »
Harare faces a looming showdown as the city council prepares to demolish 5,000 homes deemed illegally constructed on land reserved for public services. The move, described as a measure to restore order, has sparked heated disagreements between city officials and the national government. The targeted properties, primarily in high-density suburbs like Kuwadzana, Budiriro, Glen View, …
Harare’s Urban Rift: City Council Battles Over Illegal Homes Read More »
In a sweeping effort to safeguard Nigerians from fraudulent investment schemes, the Securities and Exchange Commission (SEC) is pushing for stronger legal measures to curb Ponzi and pyramid scams. Under the proposed 2024 Investments and Securities Bill (ISB), promoters and operators of illegal financial schemes face hefty fines and long jail sentences. The ISB seeks …
Cracking Down on Ponzi Schemes: Nigeria Moves to Reinforce Financial Integrity Read More »
The Central Bank of Nigeria (CBN) has voiced significant concerns over provisions in the Investment and Securities Bill 2024, warning that some of the proposed powers for the Securities and Exchange Commission (SEC) may conflict with existing money laundering laws and could lead to operational clashes between the two entities. At a public hearing in …
CBN Raises Concerns Over New SEC Powers in Proposed Investment Bill Read More »
Saudi authorities have detained 20,778 individuals across the Kingdom in a sweeping operation to enforce residency, border, and labor laws. This intense week-long crackdown, conducted in collaboration with various government agencies, underscores the Kingdom’s commitment to curbing unauthorized stays and illegal border crossings. The detainees include 11,523 individuals violating residency regulations, 5,711 in breach of …
In a landmark move to tackle global crime, Saudi Arabia and Uzbekistan have signed a memorandum aimed at intensifying cooperation on complex criminal investigations. Saudi Attorney General Sheikh Saud Al-Mujib met Uzbekistan’s Prosecutor General Nigmatilla Yuldashev in Tashkent, where the two nations sealed an agreement with a sharp focus on tackling terrorism, its funding, and …
In a swift move to protect the natural landscape, Kuwait Municipality dismantled 23 unauthorized camps that had sprung up in the northern region ahead of the official camping season. This action came as part of a targeted effort by the Al-Jahra supervision team, which acted quickly to bring unapproved camps into compliance with seasonal regulations. …
Kuwait Clears Illegal Campsites as Camping Season Nears Read More »
In a significant development, India’s financial crime agency has launched a series of raids on the offices of select sellers operating through Amazon and Flipkart. The operation, which spans across New Delhi, Mumbai, and Bengaluru, is part of an ongoing investigation into suspected violations of foreign investment regulations, according to multiple government sources. The raids …
India Targets E-Commerce Giants with Raids on Amazon and Flipkart Sellers Read More »
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