Saudi Arabian Corruption Crackdown-What does it mean for Compliance?
FCPA Compliance Report-Episode 357, Paradise Papers and Saudi Arabia Corruption Crackdown
FCPA Compliance and Ethics Report-Episode 109-interview with Bill Michael on the SEC FCPA enforcement action against FLIR employees
Twelve months have passed since the Private Sector Participation Law (the Privatisation Law) was published in Umm Al-Qura, the Official Gazette of the Kingdom of Saudi Arabia (the Kingdom), with the objectives of increasing...more
As a result of the new economic realities brought about by reduced global oil prices and the resultant reduction in the oil export revenues of the Kingdom of Saudi Arabia, for so long the country’s economic lifeblood, there...more
Texas Supreme Court Finds Anadarko is Entitled to Over $100 Million in Deepwater Horizon Defense Costs Based on Undefined Term in Insurance Policy - Insurance coverage litigation arising out of the 2010 Deepwater Horizon...more
A long-standing feature of the public-private-partnership (PPP) market in the Kingdom of Saudi Arabia (KSA) was that despite its relatively strong record of implementing PPP projects in the utilities sector, KSA did not have...more
On the surface, 2018 looked like a good year for the Gulf region. The oil price averaged over US$70/barrel for the year, compared to an average of US$50 for the previous three years. Combined with increased production, that...more
The Kingdom of Saudi Arabia is a nation with a vast and growing population of over 30 million people and significant requirements for soft and hard infrastructure. Historically, the responsibility for procuring this...more
King & Spalding has prepared two publications to assist clients who are interested in participating in PPP projects in Saudi Arabia and other GCC states with Vision2030 plans. The publications are: “Delivering...more
The leadership of Saudi Arabia (the “KSA”) has embarked on a bold transformation strategy to revitalize KSA’s economy and to position it for the demographic and economic challenges that lie ahead. The flagship transaction for...more
Navigating Private Equity Fund Limitations for Energy Infrastructure-Focused Investments - Energy infrastructure funds have emerged as a class of funds that offer investors the potential for long-term stable returns, as...more
King Salman Abdulaziz Al-Saud’s recently concluded 31-day trip to Asia saw Saudi Arabia and Malaysia sign a series of four memoranda of understanding (MOUs) relating to economic cooperation, trade, investment and human...more
Will 2017 be a boom or bust year in the Gulf region? Shah: There have been important developments in the GCC region. We are witnessing significant structural reforms in Saudi Arabia as they follow their Vision for 2030....more
Introduction - Much of the PPP debate in Saudi Arabia has focussed on the importance of shifting the public sector expenditure burden to the private sector. Wherever this has been the sole focus of a PPP programme, the...more
Amendments to Foreign Fund Private Placement Exemptions in the UAE - In August 2016, the Emirates Securities and Commodities Authority (SCA), the federal securities regulator of the United Arab Emirates (UAE), adopted...more
The latest aspect of Saudi Arabia’s wide-ranging Vision 2030 economic reform initiative has taken a step closer with Tatweer Buildings Company’s (TBC’s) plans to establish the first education public private partnership (PPP)...more
The Ministry of Environment, Water and Agriculture of Saudi Arabia has announced a new water desalination programme involving private sector participation worth over an estimated US$50 billion. The programme will be...more
Saudi Arabia last week appointed Mohammed al-Jadaan as the country’s new finance minister. Al-Jadaan has reinforced his commitment to the country’s Vision 2030 initiative, which was revealed earlier this year to serve as a...more
Brexit – Impact on Middle Eastern Issuers - Whilst the precise legal and regulatory impact that the UK’s recent decision to leave the European Union (EU), dubbed Brexit, will have on the corporate finance market will...more
The sovereign funding gap caused by a low oil price environment, coupled with a global period of economic uncertainty, are two drivers leading governments and state owned enterprises (SOEs) throughout the Middle East and...more
Oil and Gas Unitization: Specific Considerations for Cross-Border Unitization - Setting the Scene - There are more than twenty bilateral unitization Treaties and Joint Development Agreements (JDAs) in place today...more
Introduction - Considering the complexity involved in developing a national public-private partnership (PPP) program, it is generally accepted that governments do not typically have the internal skill sets required to...more
On 25 April 2016, Deputy Crown Prince Mohammed bin Salman announced Vision 2030, the Kingdom of Saudi Arabia’s vision for life without crude oil. It’s fair to say that the announcement has been positively received, both...more
Managing In-Project Disputes in Major Construction Projects - What do you do when an unforeseen event threatens to increase the costs or time necessary to complete a major construction project? At first, it may seem...more
Introduction - It has been widely reported that Saudi Arabia is planning implementation of an economic reform program like none ever seen before. At the heart of the program is the privatization of large swathes of the...more
Saudi Arabia’s recently announced plans to privatise several key industries in the Kingdom has once again brought the Kingdom’s privatisation agenda back into the spotlight. The announcements form part of the countries...more
In a climate of falling oil prices and tightening government budgets, several states in the Gulf Cooperation Council region (GCC) are looking again at Public Private Partnerships (PPP) as one of several business models for...more