Latest news with #CompetitionLaw
Argaam
2 days ago
- Business
- Argaam
Final ruling overturns GAC fine against 2 Electrical Industries subsidiaries
Electrical Industries Co. (EIC) said the Administrative Court of Appeal issued a final ruling on July 7, upholding the Administrative Court's decision to annul the Committee for Adjudication of Competition Law Violations' two rulings concerning the fines imposed on two of the company's subsidiaries. In a statement to Tadawul today, July 23, the company said it received the official court judgment from the Administrative Court of Appeal via its legal counsel on July 22. It also noted that the costs associated with this matter cannot be determined at this stage. EIC confirmed that the ruling is considered final. However, it remains subject to potential review by the Supreme Administrative Court if any party files an objection within the legally defined period, particularly on grounds of misapplication of the law or a violation of Shariah by the Court of Appeal. According to data available with Argaam, EIC received in July 2024 a decision from the Committee for Adjudication of Competition Law Violations, which includes imposing a penalty of SAR 26.1 million on two of its subsidiaries for potential violations of the Competition Law. The Administrative Court in Riyadh ruled to annul paragraphs five and six of the committee's decision in January 2025, which related to the fine. Subsequently, the General Authority for Competition (GAC) appealed the decision before the Administrative Court of Appeal.
Business Recorder
26-06-2025
- Business
- Business Recorder
CCP holds workshop on Competition Law
ISLAMABAD: The Competition Commission of Pakistan (CCP), in collaboration with the Islamabad High Court Bar Association (IHCBA) and the Directorate of Legal Education, organized a workshop on Competition Law to enhance legal professionals' understanding of market regulation and fair competition. The session was led by Ahmed Nawaz Saeed, Member CCP, along with senior officials of the Commission. It provided an opportunity for legal practitioners to engage directly with CCP representatives and deepen their knowledge of the key principles and enforcement mechanisms under Pakistan's Competition Law. Comprehensive presentations were delivered by Ahmed Qadir and Noman Laiq, Directors General at CCP; Salman Zafar, Senior Director; and Marryum Pervaiz, Director Merger and Accusations. The speakers covered core areas of Competition Law, including prohibited agreements, abuse of dominant position, deceptive marketing practices, mergers and acquisitions, and the criteria for granting exemptions under the law. Participants showed keen interest throughout the session, which concluded with an interactive Q&A segment, fostering constructive dialogue on regulatory challenges and enforcement issues. Copyright Business Recorder, 2025
Yahoo
11-06-2025
- Business
- Yahoo
Türkiye competition watchdog to probe Coca-Cola İçecek
An investigation has been launched into Türkiye's Coca-Cola İçecek regarding a potential breach of the country's competition laws. The country's competition authority Rekabet Kurumu said yesterday (10 June) Coca-Cola İçecek's subsidiary Coca-Cola Satış ve Dağıtım (Sales and Distribution) was the subject of its probe. The investigation is to assess whether the group has "violated" the competition protection law Act no. 4054, by "imposing exclusivity on retail outlets and excluding competitors from outlets". Shares in Coca-Cola İçecek were down 2.47% to Tl51.30 ($1.31) around noon GMT today, following the announcement. The decision to investigate Coca-Cola İçecek's Coca-Cola Satış ve Dağıtım followed a preliminary inquiry in March. In a statement, Coca-Cola İçecek stressed the launch of the probe "does not necessarily mean that the company subject to investigation has actually violated The Act on the Protection of Competition No.4054 nor it will be subject to a penalty due to a violation of the Competition Law regulations". The Cola-Cola Satış ve Dağıtım business was already investigated by Rekabet Kurumu in 2021 for "preventing the sale of rival products at final sale points". In 2022, the competition authority accepted a "commitment package" from the business which looked to fix the competition issues. These pledges included offering discounts and promotions at sales points only to the same types of beverages. In its guidance for 2025 published in March, Coca-Cola İçecek said the group expected to be "cycling a difficult operating environment in 2024". It added: "We will focus on driving volume growth by prioritising affordability for consumers." For 2025, Coca-Cola İçecek anticipates "low to mid-single-digit growth" in sales volumes in Türkiye and "mid-to high-single-digit growth" for volumes its other global markets. The company also expects to see a "flat EBIT margin", accounting for inflation. In 2024, Coca-Cola İçecek's international volumes declined the most, by 3.6% to 934 million unit cases, attributed to "weakened volume momentum in Pakistan". Volumes in Türkiye stayed flat at 568 million unit cases. Consolidated volumes declined 2.2% to 1.5 billion unit cases. "Türkiye competition watchdog to probe Coca-Cola İçecek" was originally created and published by Just Drinks, a GlobalData owned brand. The information on this site has been included in good faith for general informational purposes only. It is not intended to amount to advice on which you should rely, and we give no representation, warranty or guarantee, whether express or implied as to its accuracy or completeness. You must obtain professional or specialist advice before taking, or refraining from, any action on the basis of the content on our site. Error in retrieving data Sign in to access your portfolio Error in retrieving data Error in retrieving data Error in retrieving data Error in retrieving data
&w=3840&q=100)
Business Standard
03-06-2025
- Business
- Business Standard
Parliamentary panel to review IBC and propose reforms for efficiency
The Centre is expected to table an amendment Bill in the monsoon session as a parliamentary panel examines the Code amid concerns flagged by the Supreme Court Ruchika Chitravanshi New Delhi Listen to This Article A parliamentary panel is taking a comprehensive look at the Insolvency and Bankruptcy Code (IBC) to suggest the changes and measures that need to be taken to make it more efficient, a senior government official said. 'The committee is looking at IBC in totality, just as they did with the Competition Law as well,' the senior official said. The government is expected to bring the IBC Amendment Bill in Parliament in the upcoming monsoon session. Several Supreme Court rulings in the recent past have pointed to gaps in the implementation of the IBC, the latest being the Bhushan Power and
Business Recorder
31-05-2025
- Business
- Business Recorder
CCP holds awareness session on Competition Law for IIUI students
ISLAMABAD: An awareness session on 'Competition Law in Pakistan' was held at the Competition Commission of Pakistan (CCP) Headquarters for the students of School of Economics, International Islamic University, Islamabad (IIUI). Moderated by CCP's Deputy Director of Advocacy, Raja Taimur Hassan, the session commenced with a brief video showcasing the CCP's role, followed by a detailed presentation on Competition Law by Ahmed Qadir, Director General. Ahmed Qadir explained the fundamental of Competition Law, including those related to the cartelization, abuse of dominant position, deceptive marketing, prohibited agreements and mergers & acquisitions, to the students. He supplemented his presentation with case studies to demonstrate practical enforcement of competition law. He also highlighted the important role that Competition Law plays in fostering fair market practices, which are critical for economic growth. Students took keen interest and posed numerous questions regarding Competition Law and the work of the Commission, which were addressed by the officials of the Commission. Dr Babar Amin, Lecturer at the School of Economics, IIUI, commended the session, describing it as a crucial basis for students' comprehension of market dynamics and Pakistan's regulatory frameworks that govern and guide economic activity. Copyright Business Recorder, 2025
