Saudi Arabia’s Collections from VAT Double Expectations in 2018; Foreign Investment Rebounds

Mohammed Al-Jadaan

Saudi Arabia

News, analysis, and more

2019 Budget

Saudi 2019 budget boosts spending in bid to spur sluggish economy

“We are determined to go ahead with economic reform, achieving fiscal discipline, improving transparency and empowering the private sector,” the king said in a nationally ...

 

VAT

Saudi Arabia collects twice as much VAT as expected in 2018- budget document

Saudi Arabia collected 45.6 billion riyals ($12.16 billion) from value-added tax (VAT) in 2018, more than double its initial estimate, budget documents showed. ...

 

2019 Budget

Saudi Arabia’s 2019 budget allocates $8.8 billion to energy, industry, mining and logistics: oil minister

Saudi Arabia’s 2019 budget allocates 33 billion riyals ($8.8 billion) for the energy, industry, mining and logistics sectors, oil minister Khalid al-Falih said in a ...

 

Foreign Investment

Foreign investment in Saudi Arabia more than doubled in 2018: minister

Foreign investment in Saudi Arabia more than doubled in 2018 to 13 billion riyals ($3.5 billion), its economy and planning minister said on Wednesday ...

 

Privatization

Saudi economy minister: 5 sectors prepared for privatization in Q1 2019

Saudi Arabia’s Economy Minister said on Wednesday five sectors are prepared for privatization in the first quarter of 2019. The comments by Mohammed Al-Tuwaijri came at ...

 

2019 Budget

Saudi Budget Estimate for Oil Is Seen as ‘Wishful Thinking’

Some analysts say Saudi Arabia’s 2019 revenue forecast is surprising because they estimate it to be based on a relatively high price of oil. ...

 

Saudi Economy

Commentary: Saudi Arabia must move faster to diversify its economy – Video

Saudi Arabia needs to accept that oil prices have reached a "new normal" and rather than focusing on stimulus, the country must move faster to ...

 

Tourism

Saudi Arabia wants millions to visit a marvel in the desert – Oasis or mirage?

In the first century ad the merchants of Mada’in Saleh decorated their mausoleums with carvings of lions, gazelles, rabbits, mountain goats, leopards, hyenas, hyraxes, foxes—even ...

 

Saudi Electricity Company

Saudi Electricity Company reveals $27bn expansion plan

At a workshop organised by the Chamber of Commerce and Industry in Tabuk, al-Malki revealed that Saudi Electricity Company currently serves around nine million customers, ...

 

E-Visa

Saudi to open e-visa service to tourists

UAE state news agency WAM said the kingdom would soon expand the system to enable travel for passport holders from the United States, all Schengen ...

 

Arab and African Coastal States of the Red Sea and the Gulf of Aden (AARSGA)

Arab and African Countries Establish New Entity to Safeguard the Red Sea and Gulf of Aden

The meeting of the Arab and African Coastal States of the Red Sea and the Gulf of Aden (AARSGA) was held last week in Riyadh, and brought ...

 

WTO

WTO to Probe Qatar’s TV Piracy Claim Against Saudi Arabia

The WTO will now assign a panel of three dispute-settlement experts to evaluate Qatar’s allegations that Saudi Arabia violated the WTO’s Agreement on Trade-Related Aspects ...

 

Turkey Boycott

Saudis launch boycott Turkey drive on social media

Many users published through the hashtag an image showing a list of several Turkish products sold in the Saudi market, asking others not to purchase ...

 

Fashion

Saudi Arabian women make UK list of top fashion innovators

Two Saudi women have landed in a prominent top 100 list at the prestigious British Fashion Council. ...

 

Fish Farming

Saudi restaurant owner harvests fish in the desert

Rathaan al-Shimary has opened a sustainable fish farm in the desert to supply seafood in the remote area close to the Saudi-Iraqi border. ...

 

Saudi +

Regional and related topics

Syria

Trump administration plans to pull U.S. troops from Syria immediately, defense official says

The official, who spoke on the condition of anonymity to discuss a decision that has not yet been announced, said the decision was made on ...

 

War in Yemen

Yemeni FM: No new negotiations until security returns to Hodeidah

The Yemeni Foreign Minister, Khalid al-Yamani, said that the Yemeni government cannot go to the next round of talks unless security and stability return to ...

 

Strategic Finance

Game on: The new politics of Gulf financial intervention

The GCC states, led by Saudi Arabia, the UAE, and Qatar, are now global development actors. ...

 

Syria

Commentary: Bashir in Damascus: The Arab League’s message to Assad – welcome back

There has been a step-by-step choreographic strategy both by Damascus and some Arab states that want to reintegrate Syria back into the Arab League and ...

 

U.S. Middle East Policy

Nikki Haley presents US Middle East peace plan in final remarks to UN Security Council

However, she gave no details of exactly what was in the long-awaited plan, which has been prepared by United States President Donald Trump's son-in-law Jared ...

 

Migration

The Swiftly Closing Borders of Europe

In a wood-paneled courtroom in this small town in the French Alps, a local judge dealt a hefty setback last week to the European Union’s ...

 

Qatar

Qatar Petroleum to invest $20 billion in U.S. in major expansion

As part of its more than $20 billion investment push in the U.S. QP is looking “at gas and oil, conventional and non-conventional,” Kaabi said. ...

 

Global Oil Markets

Crude Oil Prices Stable After Tuesday’s Plunge; U.S. Oil Inventories, Fed Rate Hike Decision Loom

"The Fed meeting may be more important than the Energy Information Administration's supply report. Despite the talk of a glut of supply, the real fear ...

 

Softbank

SoftBank’s mobile unit plunges 15% in giant stock market debut

Shares in the Japanese company's mobile telecommunications unit plummeted 15% in Tokyo on Wednesday, their first day of trading. The stunning plunge wiped out billions ...

 

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