ECONOMY

IMF suggests Saudi Arabia double its VAT to 10%

Saudi Arabia may spend SAR 100 billion ($26.6 billion) more than originally planned in 2019.
The International Monetary Fund (IMF) suggested that Saudi Arabia would see positive economic benefits by raising its Value Added Tax (VAT) to 10% after successfully implementing a 5% VAT last year.

Saudi Arabia

News, analysis, and more

Aramco IPO

Saudi Aramco CEO confirms IPO will list locally ‘very soon’

Nasser also confirmed the state oil giant’s aims to list internationally in addition to Saudi Arabia, though did not specify which other locations are under ...

 

Aramco IPO

Saudi plans gradual listing at home for Aramco: sources

Saudi Arabia plans to list 1% of state oil giant Saudi Aramco on the Riyadh stock exchange before the end of 2019 and another 1% ...

 

Aramco IPO

Saudi Arabia Said to Tap Kingdom’s Rich to Anchor Aramco IPO

“There is a lot of domestic liquidity but not enough to move the needle that much. As a result, the signalling impact would be more ...

 

Consultants

No government contracts to foreign consultancy firms

Under the order, all the government departments and agencies are obliged to conclude contracts with only experienced Saudi consultancy offices and companies. ...

 

Saudi Economy

Saudi Arabia: 2019 IMF Article IV Consultation Staff Report

Reforms are starting to yield positive results. Oil prices and production have been volatile, and uncertainties in the global oil market continue. ...

 

VAT

Saudi Arabia should consider raising VAT to 10%: IMF

The IMF expects the budget deficit to increase this year to 6.5% of gross domestic product (GDP) from 5.9% of GDP in 2018 as higher ...

 

Energy Policy

Analysis: Policy options for Saudi Arabia’s new energy minister

Prince Abdulaziz bin Salman is the first member of the Saudi royal family to be appointed to the all-important role of energy minister but he ...

 

Goldman Sachs

Goldman Leaders Court Saudis Over Aramco IPO After 1MDB Fallout

Goldman Sachs Group Inc. is tapping its upper echelons to navigate a notoriously complicated region where it has stumbled of late: the Middle East. After missing ...

 

Defense

BAE chief stands by Saudi Arabia deals in spite of backlash

BAE Systems’ chief executive Charles Woodburn will be among those running the gauntlet of human rights activists descending on London this week to protest at ...

 

Saudi-Germany

Germany to restart joint police training with Saudi Arabia

The German government intends to restart joint police training with Saudi Arabia, almost a year after halting the program following the murder of Saudi journalist Jamal ...

 

King Abdul Aziz Center for World Culture

We’re Not in Kansas Anymore … The Wizard of Oz twists its way into Saudi Arabia’s Ithra

The Wizard of Oz, on Oct. 2-12. The musical, which features dazzling choreography and classic songs, will touch down in the Kingdom for the first ...

 

Women Empowerment

Saudi trapeze artist has soaring success with aerial yoga business

A Saudi flying trapeze artist has found soaring business success just months after launching the Kingdom’s first aerial yoga studio. Roa’a Al-Sahhaf, the country’s first female ...

 

Saudi +

Regional and related topics

Taliban Talks

Trump pronounces Taliban agreement ‘dead’ and peace talks over

Talk of a cease-fire in the almost 18-year-old war, on the agenda for the Oslo meeting, has now disappeared, as both the United States and ...

 

Iran Sanctions

As U.S. Cracks Down on Iran’s Oil Sales, It Calls Out an Ally

Penta Ocean Ship Management and Operation LLC, and Fourteen Star Shipping Management—two U.A.E.-based companies controlled by Indian businessmen—assisted Iranian oil shipments to Syria and processed ...

 

Abu Musa

Abu Musa Island: The “Beating Heart” of Iran in the Persian Gulf

IRI forces are revitalizing and expanding air defense, intelligence, and naval emplacements and support facilities, fielding new strategic weapons systems, and increasing IRGC operations at ...

 

Climate Change

Investing in climate change adaptation will pay off big, report says

The Global Commission on Adaptation, comprising dozens of prominent figures including Microsoft co-founder Bill Gates and former U.N. Secretary-General Ban Ki-moon, urged governments and businesses ...

 

Special Operations

Passing the Paramilitary Torch from the CIA to Special Operations Command

The CIA’s primacy in matters of paramilitary activities is well-established through existing Congressional legislation and presidential executive orders. ...

 

Egypt

Egypt Primed for Emerging World’s Deepest Rate Cuts After Turkey

Egypt’s inflation eased in August to its lowest level since the start of 2013, paving the way for what could be the second-biggest push to ...

 

Lebanon

Hezbollah leader warns against new US mediator with Israel

A U.S. official visiting Beirut to mediate between Lebanon and Israel over a maritime border dispute is a “friend of Israel,” keen to defend its ...

 

Yemen Civil War

Congress and the War in Yemen: Oversight and Legislation 2015-2019

This CRS report provides an overview of the role Congress has played in shaping U.S. policy toward the conflict in Yemen, with summary tables providing ...

 

Iran in the Region

Editorial: Yemen – Iran’s Other Terror Front

Iran’s supreme leader, Ali Khamenei, is playing a long game in Yemen and few in the world seem to have noticed. With Iran’s patronage, the ...

 

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