Real estate related economic and financial news covering the MENA region.
Saudi lawyer calls for antitrust law to boost competition
Aug 14, 2012
A Saudi lawyer has called for a new antitrust law to eliminate business monopolies that stifle competition in the kingdom, Arab News has reported. Khalid Alnowaiser said the current Saudi Competition Law is a positive development by addressing unfair competition, but it does not go far enough to challenge businesses that seek to monopolize markets and business transactions. The new law should promote competition so as to influence the public and attract customers to buy goods and services. ôDriving out one's competitors in order to monopolise a market does not promote competition and is antithetical to the goals of a progressive business environment,ö he said.