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  • Iran, its proxies will meet to discuss retaliation against Israel, say sources

    Top Iranian officials will meet the representatives of Iran's regional allies from Lebanon, Iraq and Yemen on Thursday to discuss potential retaliation against Israel after the killing of the Hamas leader in Tehran, five sources told Reuters. The region faces a risk of widened conflict between Israel, Iran and its proxies after Ismail Haniyeh's assassination in Tehran on Wednesday and the killing of Hezbollah's senior commander on Tuesday in an Israeli strike on the outskirts of the Lebanese capital Beirut.

  • Mohammed Deif: Hamas military leader and Oct 7 mastermind was killed in Gaza airstrike, Israel says

    The head of Hamas' military wing, Mohammed Deif, was killed in an Israeli airstrike in Gaza last month, the Israeli military said on Thursday, a day after the group's political leader was assassinated in Tehran. Deif is believed to have been one of the masterminds of Hamas' Oct. 7 attack on southern Israel which triggered the Gaza war. "The IDF (Israel Defence Forces) announces that on July 13th, 2024, IDF fighter jets struck in the area of Khan Yunis, and following an intelligence assessment, it can be confirmed that Mohammed Deif was eliminated in the strike," the military said.

  • FIFA Publishes Saudi Arabia’s Official World Cup 2034 Bid Book

    The official bid book outlines Saudi Arabia’s extensive plans and infrastructure projects and reflects the Kingdom's historic transformation. It provides the Kingdom’s plan to successfully stage one of the world's largest and most important sporting events, the FIFA World Cup.

  • Saudi, Iranian foreign ministers discuss regional developments

    Saudi Foreign Minister Prince Faisal bin Farhan and his Iranian counterpart Ali Bagheri-Kani have discussed the latest regional developments in a phone call, according to a foreign ministry statement. Prince Faisal and the acting Iranian foreign minister also discussed bilateral relations, the statement said. The call between the two officials follows escalating regional tensions, including Wednesday’s assassination of Hamas leader Ismail Haniyeh.

  • Saudi Arabia: Criteria for Fourteenth Wave of VAT E-Invoicing Integration

    The Saudi General Authority of Zakat and Tax has unveiled the selection criteria for the fourteenth wave of its VAT e-invoicing system integration into the Fatoora platform. According to the announcement, this new wave will commence on February 1, 2025. It will target taxpayers whose VAT-taxable revenue exceeded 5 million Saudi riyals (approximately USD 1.3 million) in either 2022 or 2023.

  • Saudi Arabia’s Q2 2024 budget shows 26% rise in non-oil revenues

    The Ministry of Finance has revealed on Wednesday the budget for the second quarter of 2024. Non-oil revenues increased by 26.09% to SR140.6 billion, compared to SR111.51 billion in the first quarter of the year, marking an increase of SR29.09 billion. Oil revenues also rose by 17.08%, surpassing the SR200 billion mark, reaching SR212.99 billion in the second quarter compared to SR181.92 billion in the first quarter.

  • Saudi Minister of Commerce Concludes Visit to Republic of Korea

    The Saudi Minister of Commerce and Chairman of the Board of Directors of the National Competitiveness Center (NCC), Dr. Majid bin Abdullah Al-Qasabi, met with the Minister of Land, Infrastructure and Transport, Dr. Sangwoo Park, today in Seoul, Republic of Korea. The meeting, which also had the Kingdom of Saudi Arabia's Ambassador to the Republic of Korea, Sami bin Mohammed Al-Sadhan, in attendance, covered discussions on the Kingdom's Vision 2030, economic and development reforms, cooperation and partnership opportunities, and the exchange of expertise, particularly in priority sectors.

  • Saudi equestrian team gears up for Paris 2024 Olympics with high hopes and fond memories

    As the Saudi equestrian team prepares for their participation in the Paris 2024 Olympics, they are filled with memories of their last Olympic appearance, where they secured a bronze medal in the team event at the London 2012 Olympics. On Thursday, the team will compete in the mixed team show jumping event at the historic Palace of Versailles arena, established in Paris in 1624.

  • Lawyers for Saudi Arabia seek dismissal of claims it supported the Sept. 11 hijackers

    Lawyers for Saudi Arabia argued Wednesday that the country fought against terrorism and al-Qaida, just like the United States, in the 1990s and should not be a defendant in lawsuits seeking over $100 billion for relatives of people killed in the Sept. 11 terrorist attacks. U..S. District Judge George B. Daniels listened Wednesday to arguments about evidence in the two-decade-old Manhattan case, but he did not immediately rule.

  • Saudi IPO rush set to continue in second half of 2024, top corporate lawyers say

    This follows analysis by Kuwait’s Financial Centre, also known as Markaz, indicating that more than half (59%) of total IPO proceeds in the Gulf Cooperation Council (GCC) were derived from Saudi Arabia, the largest economy in the GCC, in the first half of 2024. Saudi Arabia raised US$2.1 billion from 19 offerings in the six months to the end of June. These included US$1.95 billion listed in its main market, Tadawul, and US$143 million in the parallel market, also known as Nomu.