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  • Real Estate Transaction Tax will be exempted under 21 circumstances

    The law revealed 21 cases in which real estate transactions are completely exempt from the tax, as the law includes specific exemptions, such as: real estate transactions related to the division of estates or gifts to relatives up to the third degree, and transactions for the purposes of endowments and charitable associations. It aims to combat tax evasion by imposing fines of up to three times of the tax due in the event of manipulation or providing inaccurate information.

  • Saudi Arabia expands cloud seeding for water security

    Ayman Ghulam, CEO of the National Center of Meteorology and general supervisor of the program, stressed that the program is crucial for water security and natural resource sustainability by utilizing global technologies to improve climate conditions and rainfall.  Ghulam noted significant milestones, including the first rain-seeking flight in April 2022, and ongoing research to optimize weather elements in Saudi Arabia, complementing the Saudi and Middle East Green initiatives.

  • Saudi Arabia condemns Israel’s decision to seize UNRWA headquarters land in Jerusalem

    The Saudi Ministry of Foreign Affairs has strongly condemned the Israeli occupation authorities’ decision to confiscate the land on which the headquarters of the United Nations Relief and Works Agency for Palestine Refugees in the Near East (UNRWA) is located in occupied Jerusalem, with the intent to transform it into a settlement outpost.

  • How Nasrallah’s departure will impact Iraq

    The departure of Hezbollah's Secretary-General Hassan Nasrallah has sent shockwaves throughout the region, especially as his pivotal role within the ‘resistance’ movement is expected to have a lasting impact. The absence of a towering figure such as Nasrallah is particularly significant for Iraq, where dozens of Shiite armed groups—many of which are now part of the government—are closely linked to the broader ‘resistance’ network that the late Lebanese cleric and politician influenced.

  • US to send anti-missile system and troops to Israel, Pentagon says

    The United States said on Sunday it will send U.S. troops to Israel along with an advanced U.S. anti-missile system, in a highly unusual deployment meant to bolster the country's air defenses following missile attacks by Iran. U.S. President Joe Biden said the move was meant "to defend Israel," which is weighing an expected retaliation against Iran after Tehran fired more than 180 missiles at Israel on Oct 1.

  • Saudi Arabia sends second relief plane to Lebanon

    The second Saudi relief plane, operated by KSrelief, departed on Monday from King Khalid International Airport in Riyadh, carrying food, medical supplies and shelter aid to Beirut International Airport. This mission follows the directives of King Salman and Crown Prince Prince Mohammed bin Salman to support the Lebanese people.

  • Saudi PIF-Backed Firm Plans Trade Zone to Boost China Ties

    The KSA-Sino Logistics Zone will be developed at Saudi Arabia’s new King Salman International Airport, Cliff Chau, managing partner at Riyadh-based EWPartners, said in an interview. It will aim to bring in Chinese firms involved in logistics, light manufacturing and reexports into Saudi Arabia to serve the wider Middle East, Africa and Europe, he said.  The firm is currently in talks with potential investors including both Asian and Middle East sovereign wealth funds to finance around $2 billion for the initial development costs, said Chau, a former executive at China Investment Corp. The full cost of developing the 4 square kilometer zone, which is scheduled to launch by the end of next year, is still being determined, he said.

  • Saudi naval forces participate in Medusa 13 joint naval-air exercise in Greece

    The Royal Saudi Naval Forces took part on Sunday in a joint naval-air exercise called Medusa 13, being held in Greece. The exercise includes naval and air forces from Greece, Egypt, France, and Cyprus, alongside Saudi Arabia, and aims to strengthen international military cooperation and enhance naval security, Saudi Press Agency reported.

  • Saudi Human Resource Firm’s IPO Fully Covered in First Hour

    Tamkeen is seeking to raise up to 398 million riyals ($106 million) by selling a 30% stake, or 7.95 million shares, on the local stock exchange, the company said in a statement earlier. Institutional investors covered the order book across the price range of 46 riyals to 50 riyals a share, people familiar said, asking not to be identified.

  • Saudi’s MbS will not attend Russia’s BRICS summit

    Saudi Crown Prince Mohammed bin Salman is not expected to attend a Russian-hosted BRICS summit later this month, according to the Kremlin, which said the world's biggest oil exporter would be represented by the kingdom's foreign minister. The BRICS group originally consisted of Brazil, Russia, India, China and South Africa, and has expanded to include Ethiopia, Iran, Egypt and the United Arab Emirates and others. Two sources with direct knowledge of the matter told Reuters in January that Riyadh was still considering the invitation to join BRICS.