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Nasdaq Dubai to Launch Futures Trading in Saudi Quoted Companies before End of Year
Nasdaq Dubai will launch futures trading in Saudi quoted companies “before the end of this year,” according to reports, marking the first time Saudi stocks can be traded in derivative form. The move will allow global investors to trade shares in Saudi Arabian listed companies via contracts to buy or sell shares at a set price in […]
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New Tax Gains Redistributed to Support Saudi Safety Net but Takes Toll on Balance Sheet, Report Says
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. The increase in the kingdom’s spending on wages and social benefits during the first quarter “exceeded what it accrued through higher taxes […]
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Oxford Business Group Survey of CEOs finds Confidence high in Saudi Arabia
Executives have welcomed signs that change is afoot in Saudi Arabia, although many are also keen for the pace of economic reforms to be accelerated, a new survey by the Oxford Business Group finds. As part of its second survey on the Kingdom, the global research and consultancy firm asked over 100 C-suite executives from […]
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In Interview, Governor of SAGIA Ibrahim Al-Omar Says New Licenses for Investment and Business Soaring
The head of Saudi Arabia’s top licensing and investment body says that the Kingdom is increasing its new licenses to investors and businessmen seeking to do business in the Kingdom, according to an interview in TheBanker.com. Ibrahim Al-Omar, head of the powerful Saudi Arabian General Investment Authority (SAGIA), told journalist James King in an interview how Saudi […]
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Milestone Achieved in Launch of Saudi Arabia’s National Privatization Program and Center
Saudi Arabia has announced the launch of “Delivery Plan 2020,” a privatization program headed by a newly created office, Saudi Arabia’s National Centre for Privatization (NCP), in a major milestone for the Kingdom as it looks to advance its Vision 2030 economic and social reform goals. The plan sets out the country privatization agenda for […]
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CEDA Approves Privatization Program in Progress for Vision 2030 Implementation
Saudi Arabia’s powerful Council of Economic and Development Affairs (CEDA) approved a Privatization Program that is one of 12 key elements of the Kingdom’s Vision 2030, according to reports. Saudi Arabia aims to generate 35 billion to 40 billion riyals ($9 billion to $11 billion) in non-oil revenues from the privatization program by 2020 and create […]
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Catholic Cardinal meets Saudi king in Historic Visit to Riyadh
Saudi Arabia’s King Salman has met French cardinal Jean-Louis Tauran during the first visit to the Kingdom by such a senior Catholic authority, according to the SPA. The move follows other overtures by Saudi Arabia’s leadership in recent weeks to other faiths, and a visit by Lebanon’s Christian Maronite Patriarch Beshara al-Rai in November. Interfaith dialogue has been […]
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Saudi Aramco Earned $33.8 billion in the first half of 2017, Has ‘Virtually No Debts’, Data Reviewed by Bloomberg Says
A first glimpse at Saudi Aramco’s finances by Bloomberg News reveals the state oil giant made a whopping $33.8 billion in net income in the first half of 2017 and has very little debt, according to a series of stories published by the news site. The figures have previously only been seen by top Saudi leadership and […]
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Saudi Crown Prince Wraps Up U.S. Tour in Houston with Big Gulf Investments Eyed
Crown Prince Mohammed bin Salman wrapped up his unprecedented whirlwind tour of the United States with a stop in Houston to talk investments in the Gulf region. The Crown Prince visited Motiva Enterprises LLC, a wholly-owned downstream oil and gas subsidiary of Saudi Aramco, to witness the signing of MoUs worth between $8 billion to $10 billion with US […]
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Crown Prince Mohammed bin Salman Meets with U.N. Secretary General in New York
Crown Prince Mohammed bin Salman continued his active visit to the United States yesterday, attending a business meeting in New York with over 200 executives, and separately meeting with the Secretary General of the United Nations, Antonio Guterres. 200 top business leaders from the U.S. and Saudi Arabia – including two dozen women – assembled in […]
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Saudi Crown Prince discusses situation in Palestine with Erdogan, al-Sisi
During his phone conversation with Erdogan, MBS “affirmed the Kingdom of Saudi Arabia’s keenness to unite Arab and Islamic efforts to support the Palestinian brotherly people in addressing the brutal aggression imposed by the Israeli occupation forces and the need to intensify efforts in order to stop the ongoing Israeli aggressions and violations against the Palestinian people.”
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Coco Gauff praises WTA Finals in Riyadh, hopes to inspire Saudi’s next generation of tennis stars
Women’s tennis has found a promising advocate in American tennis star Coco Gauff, who has expressed her support for the sport’s expansion into Saudi Arabia. The 19-year-old, fresh off her triumph at the US Open, is emerging as an inspiration for young athletes, both on and off the court. While some players have been hesitant about the WTA Finals taking place in Riyadh, Gauff’s perspective is refreshingly different. Gauff, currently ranked No. 3 in the world, is on a mission to defend her Flushing Meadows title, aiming to be the first to do so since Serena Williams in 2014.
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Saudi Arabia to Embark on Exceptional Visit to East Asia, Seeks Automotive Technology Localization
Saudi Arabia is currently preparing for a high-profile economic visit to East Asia, under the leadership of Minister of Industry and Mineral Resources, Bandar AlKhorayef, from Sep. 1 to 8, 2024, reported the Saudi Press Agency (SPA).
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Saudi Arabia’s GOSI extends fine exemption for businesses
Launched by GOSI in March, the initiative aims to help establishments mitigate the financial impacts of fines, correct their insurance status, and settle debts, the Saudi Press Agency reported on Saturday. It is part of GOSI’s efforts to support the business sector, encourage insurance compliance, and improve customer satisfaction. With a 100 percent exemption rate, subscription amounts due to GOSI must be paid through Taminaty Business.
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Saudi merchandise imports down 5% to SAR 57.7B in June
Saudi Arabia’s merchandise imports decreased 5% year-on-year (YoY) to almost SAR 57.7 billion in June 2024, according to data issued by the General Authority for Statistics (GASTAT).
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Saudis Aim to Slash Red Tape as Race for Foreign Cash Heats Up
The updated law — announced in August and due to take effect in 2025 — will also provide equal treatment for foreigners and locals, freedom to manage investments and repatriate funds, and the ability to appeal penalties and violations. Additionally, investors are set to have more flexibility in how they choose to resolve disputes, including by doing so outside the court.
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Saudi soccer league remains as ambitious as ever despite quiet transfer window, CEO says
Despite a relatively quiet transfer window in Saudi Arabia, the arrival of Ivan Toney and Joao Cancelo shows that the ambitions of the cash-rich Saudi Pro League remain as high as ever, according to league chief executive Omar Mugharbel. August ended with Al-Ahli of Jeddah paying London club Brentford a reported 40 million euros ($44 million) for Toney on Friday, three days after Premier League champion Manchester City sold Cancelo to Riyadh’s Al-Hilal.
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Saudi Arabia’s digital bank ‘D360’ to launch tomorrow
D360, a digital bank, is scheduled to be officially launched in Saudi Arabia on Sept. 3, on the sidelines of the 24 Fintech conference in Riyadh, which will run from Sept. 3 to 5, according to Al Eqtisadiah newspaper. In February 2022, the Saudi Cabinet approved the Minister of Finance, Mohammed Al-Jadaan, to issue a license to the local digital bank - D360 Bank (under established) – in line with Article No. 3 of the Banking Control Law, data compiled by Argaam showed
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Massive protests hit Israel after six hostages killed in Gaza
Massive protests swept Israel on Sunday following the death of six hostages in Gaza as frustration mounted over the failure of the country's leadership to secure a ceasefire deal that would free Israeli captives. Crowds estimated by Israeli media to number up to 500,000 strong demonstrated in Jerusalem, Tel Aviv and other cities, demanding that Prime Minister Benjamin Netanyahu do more to bring home the remaining 101 hostages, about of a third of whom Israeli officials estimate have died.
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This Saudi video will inspire your next holiday
There’s a new Visit Saudi video highlighting just how fabulous Saudi really is. A recent video is taking the internet by storm putting a spotlight on the wonders of the Kingdom. “The Land Is Calling” campaign takes viewers on a journey across Saudi, with its contents launching in the UK, France, Italy, Germany and the US.
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