GOVERNMENT EXPENDITURES

New Tax Gains Redistributed to Support Saudi Safety Net but Takes Toll on Balance Sheet, Report Says

Crown Prince Mohammed bin Salman.
New tax earnings for Saudi Arabia's government were offset by expenditures toward programs comprising the Kingdom's safety net for lower income citizens, according to a Bloomberg report which cited Ministry of Finance figures.

Saudi Arabia

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NEOM

Saudi’s $500 billion mega-city NEOM is attracting ‘overwhelming’ interest from investors

Ibrahim Al-Omar, governor of the Saudi Arabian General Investment Authority (SAGIA), said foreign direct investment (FDI) was growing in Saudi Arabia. ...

 

Economy

Saudi Arabia’s Safety-Net Spending Wipes Out New Tax Gains

Saudi Arabia’s efforts to ease the burden on ordinary citizens from its promised economic overhaul are taking a toll on its balance sheet. ...

 

Saudi Nuclear Program

Bechtel executive: US firms should be involved in Saudi nuclear plans

The presence of American firms would likely be welcomed by the Saudis and should also be welcomed by the U.S. government, according to Stuart Jones, ...

 

Cannes Film Festival

Film Business Looks to Saudi Arabia

Saudi Arabia continues to fine-tune its censorship guidelines and the country is being flooded with requests from media companies and exhibitors looking to establish a ...

 

Saudi-Iran Rivalry

Saudi Arabia says it will ‘do everything we can’ to build nuclear weapon if Iran does

The Agence France-Presse reported that Saudi Foreign Minister Adel al-Jubeir said Wednesday that the country would do "everything we can" to build a nuclear bomb in that ...

 

Banking and Finance

Saudi Arabia’s Council of Economic and Development Affairs approves Financial Sector’s Development Program 2020

The Saudi Council of Economic and Development Affairs (CEDA), has formally approved the Financial Sector Development Program, one of the main programs under the umbrella ...

 

Virgin Galactic

Commentary: Astronomy – the outer frontier of MbS’ liberalization

By focusing on space sciences, long a field rejected by ultra-conservative Islamic scholars, some of whom insist that the earth is flat, Prince Mohammed was ...

 

Houthi Missile Attack

Yemen’s Iran-allied rebels fire missiles at Saudi capital

Yemen's Shiite rebels fired ballistic missiles at the Saudi capital on Wednesday, according to the rebels and the Saudi military, which said its air defense ...

 

Mohammad Al-Jadaan

FaceOf: Mohammed Al-Jadaan, Saudi Finance Minister

He  has been finance minister since November 2016. Before this, Al-Jadaan served as chairman of the Capital Markets Authority, chairman of the board of directors ...

 

Smoking

VAT on tobacco in Saudi Arabia persuades many smokers to quit, but some hang on

The ministry has taken many initiatives to curb smoking. In addition to running different awareness campaigns, the authorities have introduced treatment services like anti-smoking clinics. ...

 

Saudi Cinema

Saudi Arabia Participates in Cannes Film Festival

In an unprecedented move, Saudi Arabia is participating in the Cannes Film Festival 2018 during its 71th edition on May 8 as part of the ...

 

Saudi-Bahrain

Transport minister confirms Bahrain-Saudi bridge project to cost $4 bln

In an interview with Al Arabiya on the sidelines of the Gulf Gateway investors conference, Bahrain’s Minister of Transportation and Telecommunications Engineer Kamal bin Ahmed ...

 

Saudi +

Regional and related topics

Israel-Syria

Israel launches massive military strike against Iranian targets in Syria

The army said in a statement that its fighter jets had targeted Iranian intelligence and logistics sites around Damascus, as well as munition warehouses, observation and ...

 

Iran Nuclear Agreement

Gulf Leaders Welcome JCPOA Withdrawal but Plan B Remains Unclear

The Gulf Arab countries and Israel – often referred to collectively as Washington’s key Middle East allies – were arguably the international actors most uncomfortable ...

 

Iran Nuclear Agreement

Mattis: Leaving the Nuclear Deal Will Help the US Negotiate with Iran

President Trump’s decision to stop participating in the Iran nuclear deal gives the U.S. a “more compelling” case as it tries to curb various Iranian ...

 

Iran Nuclear Agreement

Mission Impossible? Eight White House Requirements Iran Must Meet as Part of a Post-JCPOA Strategy

President Trump's new strategy speech was followed by a flood of exaggerated criticism that ignored the actual strategy document, the text of the Department of ...

 

Iran

Perspective: Yes, Iranians are furious with Trump but they’re also angry at Israel, Saudi Arabia and their own leaders

As the regime becomes more militarised it will inevitably tighten its grip on society in order to shatter any opposition voices advocating reform. Without the ...

 

China in the Region

Iran’s Door to the West Is Slamming Shut, and That Leaves China

To develop its $430 billion economy, Iran is being forced to rely on political allies in the east. Trade with China has more than doubled since ...

 

Global Oil Markets

Trump Iran sanctions give Saudi Arabia and Russia more clout

Saudi Arabia said it will help meet world oil demand if President Donald Trump's Iran sanctions create shortfalls, but analysts say it will do so ...

 

Abu Dhabi

Heading Downstream: Abu Dhabi’s Big Plans for Business Beyond Oil

The stark contrast between the old and new buildings provides a hint of the changes afoot in energy-rich Abu Dhabi. The tiny, but stratospherically wealthy, ...

 

Iraq

Iraq’s youth disillusioned ahead of polls

Young people in the capital Baghdad have mixed opinions on whether the country's upcoming parliamentary elections on May 12 will bring about change. ...

 

Egypt

Archaeologists find remains of Roman-era temple in Egypt

The Antiquities Ministry said Thursday that the temple, which dates back to the reign of Roman Emperor Antoninus Pius, was found near the Siwa Oasis ...

 

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