MUST-READS

• Saudi Cup was a race for the ages, highlight of weekend global racing

  There haven't been and won't be many races like Saturday's $20 million Grade I Saudi Cup. And that was only the pinnacle of a solid weekend global schedule stretching from the Middle East to Hong Kong, Australia, Japan and Dubai. But my oh my! That Saudi Cup. The dictionary definition of "horse racing" could be illustrated with the photo finish of the 2025 Saudi Cup. Two of the world's best horses hooked up at King Abdulaziz Racecourse in Riyadh and the only shame was one had to lose. Japan's top dirt horse, Forever Young, prevailed by a neck over Hong Kong's world-record money earner, Romantic Warrior -- but only after the two swapped leads while leaving their other rivals far behind.

• Inside Saudi Arabia’s THE LINE: First look reveals the NEOM city rising from desert

  In an exclusive first-ever media tour of Saudi Arabia’s ambitious THE LINE project, Al Arabiya English witnessed firsthand the massive construction underway at one of the world’s most revolutionary urban developments. It’s at the heart of the NEOM project – backed by the Kingdom’s Public Investment Fund (PIF) – where senior officials addressed speculation about scaling back the project, emphasizing that it remains on track. At the Phase 1 construction site – due for completion by 2034 – there is a hive of activity – and noise – as hundreds of cranes and about a 10,000-strong workforce – including thousands of construction workers – lay the groundwork for what will eventually become a 170-kilometer linear city. The scene marks the first tangible evidence of Saudi Arabia’s ambitious vision taking shape. To date, more than 130 million cubic meters of soil have been moved – enough to fill New York’s Central Park to a depth of 30 meters. At peak activity, the site has utilized up to 4,000 trucks and more than 500 excavators working simultaneously.]

• Tax Considerations for Individuals and Investors Based in Saudi Arabia

  Saudi Arabia offers a tax-friendly environment with no personal income tax, inheritance tax, or wealth tax for individuals. Key taxes applicable to individuals include VAT, social insurance contributions, and Zakat, while various wealth management structures, including trusts and investment companies, offer tax advantages. One of the key advantages of Saudi Arabia’s tax system for private clients is the complete absence of capital gains tax on individuals. Whether derived from the sale of stocks, real estate, or other investments, individuals are not subject to taxation on their capital gains. This policy makes Saudi Arabia an attractive jurisdiction for investors, as it allows for tax-free accumulation of wealth through asset appreciation.

• Hegseth Welcomes Saudi Defense Minister to Pentagon, Underscores Partnership

  Defense Secretary Pete Hegseth today highlighted the importance of the partnership between the U.S. and Saudi Arabia while hosting that country's defense minister during a bilateral engagement at the Pentagon. Referencing the cooperation that took place between the countries during Trump's first administration, Hegseth pointed out that both nations worked together to pursue security and stability in the Middle East, as well as to combat terrorism in the region and increase mutual prosperity. "Today, our relationship is a critical center of gravity in a very turbulent world," he added.  Stating that ending the war in Ukraine is one of the president's top priorities, Hegseth said he wanted to thank the Saudi Kingdom for hosting conversations between top U.S. and Russian officials in Riyadh, Feb. 18, 2025.  "And I also want to continue deepening and strengthening our partnership to pursue security and prosperity for both Americans and Saudis. So, I'm very much looking forward to a great discussion," Hegseth said.

• Saudi Arabia’s new family law: Key marriage, custody and privacy reforms explained

  The 41-article regulation, which took effect on Friday, marks a significant step in the kingdom’s ongoing legal reforms, reinforcing women’s rights, marital laws, and child custody provisions in line with broader judicial modernisation efforts. Under the new rules, unapproved marriage contracts will now be subject to a structured review, led by the Minister of Justice and other authorities. The ministry has also been granted authority to introduce additional regulations as needed based on evolving judicial applications. The Personal Status Law is one of four key legal frameworks announced by the Crown Prince in February 2021, alongside the Civil Transactions Law, Penal Code for Discretionary Sanctions, and Law of Evidence. Together, these reforms enhance judicial transparency, expand individual rights, and bring Saudi Arabia's legal system closer to international standards.

• Infographic: 10 reasons why you should move to Saudi Arabia

  Many expats overlook Saudi Arabia as an emerging digital hub and a fantastic place to build their career. However, aside from great career opportunities, there are many lifestyle reasons why digital professionals are opting for a career in Saudi Arabia. The economy has been rapidly liberalising which has unleashed huge potential, it sports a deep and varied history and a low cost of living combined with tax-free incomes. As Saudi Arabia is on a race to become the next big tech hub, many international companies also have offices in Saudi Arabia, including BlackRock,  Amazon, Morgan Stanley, and PwC. We support many international companies, national governments and local businesses as they digitize their operations, and find that professionals places in Saudi Arabia quickly fall in love with the country.

• DHL eCommerce enters Saudi Arabian market by acquiring equity stake in parcel logistics company AJEX

  DHL eCommerce and AJEX Logistics Services, have entered into an agreement in which DHL will acquire a minority stake in the Saudi Arabian parcel logistics company. For DHL eCommerce, whose core business is domestic parcel transport in selected European countries, the United States, and certain key Asian countries, this agreement represents an expansion into the rapidly growing Saudi Arabian e-commerce parcel market. Although AJEX only began its operations in 2021, it has already established itself as a leading parcel service provider in the rapidly evolving domestic market, with robust growth and an extensive distribution network.

• Saudi Arabia tightens corporate ownership rules to boost transparency

  Set to take effect on April 3, the measures coincide with the enforcement of the updated Commercial Registry System and were developed in collaboration with experts to align with international best practices, according to the Commerce Ministry. The decision was issued by Minister of Commerce Majid Al-Qasabi as part of efforts to strengthen regulatory oversight. The regulations, developed in line with Financial Action Task Force guidelines, require companies to disclose individuals who ultimately control or benefit from their operations. The new rules also reinforce the Kingdom’s adherence to international standards, particularly those set by FATF, which works to protect the global financial system from illicit activities through policy development and enforcement. The rules apply to all businesses operating in Saudi Arabia, including foreign entities, but exempt publicly listed firms, state-owned enterprises, and companies undergoing bankruptcy liquidation.

• Gloomy outlook for Saudi petrochemicals

  Saudi Arabia’s 10 listed petrochemical companies are likely to report lacklustre earnings for the fourth quarter of 2024 because of an ongoing downturn in the global chemicals industry, analysts predict. The sector’s prolonged malaise means they are likely to be of little interest to international institutional investors – although all enjoy significant cost advantages over competitors in Europe and Asia, excluding China, through access to cheap feedstock.  Trading in the likes of Saudi Basic Industries Corp (Sabic), the world’s sixth-largest petrochemical operation by market cap according to companiesmarketcap.com, is now largely the preserve of retail investors seeking to make a quick profit as stock prices fluctuate.

• Saudi Arabia may be expanding ballistic missile force, satellite images show

  Saudi Arabia may be quietly modernising and expanding its long-range missile capabilities, according to newly published satellite imagery. Fabian Hinz, a defence and military researcher at the International Institute for Strategic Studies (IISS), analysed the images in a report published on Thursday. Riyadh first established long-range surface-to-surface missiles in the 1980s in response to the Iran-Iraq war and the broader proliferation of missile capabilities in the region. Details about the development of its missile programme since then have been scarce, as the Gulf kingdom rarely displays its long-range weaponry openly. The IISS report found what appears to be the construction of an underground missile base near the town of al-Nabhaniyah in central Saudi Arabia. Construction began in 2019 and was mostly complete by early 2024, it added.

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