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Saudi’s Regional Headquarters Program Moves Forward
In February the Zakat, Tax and Customs Authority published guidelines specifying RHQ tax rules. Under the new rules, specific activities qualify for tax incentives. The new RHQ tax rules aim to clarify the scope and conditions of tax relief for RHQ entities, as announced by MISA in December 2023.
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EU announces five-year Schengen visas for Saudi, Omani and Bahraini citizens
The EU will now allow citizens from Saudi Arabia, Oman, and Bahrain to apply for five-year Schengen visas. This marks a significant step forward in strengthening people-to-people relations between the EU and the GCC.
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Global Defense Spending Spikes in 2023
According to a study by Forecast International in 2023 global defense spending grew at its fastest pace in the last decade as governments respond to security crises unfolding around the world.
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IMF Sees OPEC+ Turn on Oil Production as Boon for Saudi Economy in 2025 – Report
The International Monetary Fund said it expects OPEC and its partners to start increasing oil output gradually from July, “a transition that’s set to catapult Saudi Arabia back into the ranks of the world’s fastest-growing economies next year,” according to a report in Bloomberg. “We are assuming the full reversal of cuts is happening at the beginning of 2025,” […]
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Prospects for Saudi Arabia hitting 2030 Renewable Energy Targets
In 2016 Saudi Arabia’s Vision 2030 had an initial target of deploying 9.5GW of green energy by 2030. The latest revision made in 2023 targets 130GW of renewable power capacity by 2030. GlobalData, a leading data and analytics company, says the Kingdom can come close to that target.
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Saudi Arabia Moves Closer to $1 Billion stake in a Pakistani mine – Report
Saudi Arabia is moving closer to a potential deal to acquire a minority stake in a Pakistan mine controlled by Barrick Gold Corp., people with knowledge of the matter told Bloomberg.
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Saudi Arabia Fares Well in 2024 Kearney FDI Confidence Index
Ongoing economic and business-related reforms helped the United Arab Emirates and Saudi Arabia post the biggest jumps in Kearney’s 2024 Foreign Direct Investment Confidence Index. The countries climbed ten spots from 2023, to eighth for the UAE and 14th for Saudi Arabia.
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Saudi defense minister receives phone call from US counterpart; Kingdom denies role in shooting down Iranian attack
Saudi Minister of Defense Prince Khalid bin Salman received on Sunday a phone call from U.S. Secretary of Defense Lloyd Austin, according to reports.
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Dr. William Greene, CIO of the Hevolution Foundation, joins The 966 to talk latest investments, strategy for Hevolution
William Greene, MD, Chief Investment Officer (CIO) of the Hevolution Foundation, joins The 966 to talk about Hevolution’s investment strategy and role as an investor in the emerging field of Healthspan Science. As CIO, Dr. Greene oversees all aspects of Hevolution Foundation’s investment strategy, planning, analysis, and execution.
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Halo Space to test Balloon Flight from Saudi
Spanish company Halo Space is in talks with Saudi regulators to set up a base in the kingdom for balloon flights into space. Ongoing tests are planned for Saudi Arabia this summer.
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Somalia cuts ties with Kenya, shots fired at Mogadishu protests
The dispute could undermine cooperation in the fight against the Islamist group al Shabaab in Somalia, where Kenya provides 3,600 troops to an African Union peacekeeping force. “Somalia calls back all its diplomats from Kenya and orders Kenyan diplomats to leave Somalia within seven days,” Somali Information Minister Osman Dube told the state news agency.
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Downsized Hajj Wreaks Havoc on Somalia’s Camel Exports
Somalia usually ships millions of camels, goats, sheep and cattle across the Red Sea to Mecca around this time of year for Islam’s hajj pilgrimage, which begins on Wednesday. Normally, as many as 2 million people converge on the holy city and slaughter animals as sacrificial offerings.
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U.S. says air strike in Somalia killed one civilian, injured three
In a report, U.S. Africa Command (AFRICOM) said a verification of the facts and circumstances about a Feb. 2 air strike triggered by allegations of civilian deaths established one civilian had been killed while three were injured.
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US Strikes in Somalia Nearly on Par with Strikes in Iraq, Syria
The pace of U.S. military strikes against al-Qaida affiliate al-Shabab in Somalia this year is nearly on par with the number of strikes against Islamic State in Iraq and Syria. The U.S. has carried out 25 strikes against al-Shabab to date in 2020, including one Monday in the vicinity of Janaale, Somalia, that U.S. Africa Command (AFRICOM) said killed four terrorists.
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Somalia suicide car bomb attack rocks capital, killing scores
At least 79 people are dead and 149 more injured after a massive car bomb exploded at a busy intersection on the outskirts of Somalia's capital, Mogadishu, on Saturday, according to a government official.
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US reopens embassy in Somalia nearly 3 decades after fleeing
Wednesday’s statement says the opening reflects recent progress in the Horn of Africa nation that still faces frequent attacks by al-Qaida-linked al-Shabab extremists.
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Somalia: Jihadists attack US Baledogle training base
The base, about 100km (60 miles) west of the capital Mogadishu, is said to house US special forces, Somali special forces and Ugandan peacekeepers. It is used as a launch site for US drones as well as being a training centre.
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Qatar Plans to Build New Port in Central Somalia Town of Hobyo
Qatar plans to build a new port in Somalia’s central town of Hobyo, ministers from the two nations said during a visit by a government delegation from the Middle Eastern nation. Construction will begin soon, Somalia’s Minister for Airports Maryan Aweis Jama and the Qatari transport and communications minister, Jassim Saif Ahmed Al Sulaiti, told reporters, without giving details. The Qatari group arrived in Mogadishu, the capital, on Monday and is led by Foreign Minister Sheikh Mohammed bin Abdulrahman Al Thani.
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With Guns, Cash and Terrorism, Gulf States Vie for Power in Somalia
Over the last two years, war-torn Somalia has emerged as a central battleground, with the United Arab Emirates and Qatar each providing weapons or military training to favored factions, exchanging allegations about bribing local officials, and competing for contracts to manage ports or exploit natural resources.
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At least one American among the 27 dead in terrorist attack on hotel in Somalia
At least one American is among the 27 who died in a terrorist attack on a hotel in Somalia on Saturday, and the U.S. State Department said it is still working to confirm whether other American citizens were hurt or killed in the assault.
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