July 16, 2020: The U.S. and Saudi Arabia, along with five other Persian Gulf Arab states, announced a coordinated series of sanctions against three money transfer companies plus individuals in Turkey …
IMF did not recommend Saudi Arabia VAT tripling, official says
The International Monetary Fund did not recommend the decision taken by Saudi Arabia to triple value-added tax this month, an official said, cautioning against increasing consumption taxes in the …
Saudi Arabia, US blacklist targets in Turkey, Syria for terrorist financing of ISIS
File photo of smoke rising in Syria’s Raqqa in 2017 during fights between the Syrian Democratic Forces (SDF) and ISIS militants. (Reuters) Saudi Arabia added six entities, including money transfer …
Investments into startups in Saudi Arabia soar by 102% to $95m in first half of year
Startups in Saudi Arabia have seen a 102% year-on-year increase in funding in the first half of the year to $95m, amid Covid-19 pandemic. According to a MAGNiTT report sponsored by Saudi Venture …
UN: Migrants in Yemen are blamed for virus, stranded, abused
Over the course of Yemen’s civil war, African migrants determined to reach oil-rich Saudi Arabia have endured unspeakable cruelties – torture, rape, detention, extortion – …
UN’s top court backs Qatar in airspace row with Saudi Arabia
The International Court of Justice has come down in favor of Qatar in a bitter regional row over airspace. It rejected an appeal by four neighbors against a previous ruling by the UN’s civil aviation …
UN court rejects Gulf states appeal in Qatar blockade case
It relates to a move in the summer of 2017 by Bahrain, Egypt, Saudi Arabia and the UAE to block their airspace to Qatari aircraft as part of a wider row in which the states severed diplomatic ties …
Twist in Newcastle United takeover as Saudi Arabia bans broadcaster
The proposed takeover of Newcastle United took another turn for the worse yesterday when the Saudi Arabian government barred the Premier League’s official Middle East broadcaster, even though its …
BRI: Saudi Arabia, Egypt support new multilateral fund for Belt and Road infrastructure projects
Saudi Arabia and Egypt are among the six countries participating … and the Philippines to donate a total of $180.2 million to the new Multilateral Development Finance Cooperation Centre (MCDF) fund, …
Saudi Arabia bolsters its national stock exchange, the Tadawul, with major derivatives push
The Kingdom hopes it will attract domestic and international investors, even as the IMF predicts Saudi Arabia’s economic growth will slump 6.8% this year due to the coronavirus pandemic and weak oil …