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Saudi Moves Further into FinTech Space with PIF Backing of New Digital Bank Called D360
- February 16,2022
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- SUSTG Team
Saudi Arabia’s Public Investment Fund is investing in the creation of a new digital bank being established in the kingdom with a capital of 1.65 billion riyals ($440 million), according to a report from Bloomberg.
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Saudi Arabia Transfers 4% of Aramco Shares Valued at $80 billion to Public Investment Fund
- February 14,2022
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- SUSTG Team
Saudi Arabia transferred shares worth about $80 billion in oil giant Aramco to the Public Investment Fund as part of efforts to move forward economic diversification efforts, according to reports.
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The Saudi Games 2022, air pollution’s cost, and King Salman’s pivotal role in Saudi history with guest David Rundell
- February 11,2022
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- SUSTG Team
David Rundell, author of Vision or Mirage: Saudi Arabia at the Crossroads joins this week for Episode 26 of The 966. The hosts and David talk about the Saudi Games 2022, the cost of air pollution in the “MENA region,” then discuss the important role of King Salman in the history of Saudi Arabia and […]
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Social entrepreneurship, the latest with Saudi golf, a new national holiday and much more with guest Ghadah Al-Harthi
- February 4,2022
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- SUSTG Team
Episode 25! Joining The 966 this week is a special guest, Dr. Ghadah Al-Harthi from London. Ghadah is Senior Consultant at Barker Langham, Associate Director MA Innovation Management, Central St Martins, and Young Adviser at Chatham House. This week, the hosts talk about the start of the Saudi international golf tournament, the announcement of a […]
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Al Attiyah Keeps Sizable Lead in Dakar Rally; Saudi Officials Find ‘No Criminal Suspicions’ in Last Week’s Blast
- January 10,2022
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- SUSTG Team
Qatar’s Nasser Al-Attiyah kept a sizable lead going in the Dakar Rally as it enters its second week, as Sebastien Loeb moved back into second place with a stage victory at the start of week two in Saudi Arabia on Sunday, according to Reuters.
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The 966 Episode 19: Saudi Arabia’s ‘Nitaqat’ Reforms and Doing Business in Riyadh with Guest Chris Johnson
- December 31,2021
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- SUSTG Team
Episode 19 of The 966 weekly podcast with special guest Chris Johnson, managing attorney, Johnson & Pump and Chairman, MECACC & KKR Saudi Arabia. Chris is a resident of Riyadh and, along with his legal work, publishes a terrific weekly newsletter. The hosts and Chris discuss a handful of topics including Nitaqat in Saudi Arabia, […]
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A Special Holiday Edition of The 966: Extended ‘Yallah’ Conversation Covering 10 Top Storylines in Saudi Arabia This Week
- December 24,2021
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- SUSTG Team
The 966 kicks off the holiday season with a special edition of the weekly format. The hosts discuss airport takeovers, Soundstorm, The PGA’s standoff with a new Saudi-backed challenger league, the Jeddah Central project, Omicron in Saudi, and more.
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Saudi Arabia Plans PIF Takeover of Airport Operators with Eyes Toward Privatization
- December 21,2021
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- SUSTG Team
Saudi Arabia plans to convert its airport operators into holding companies and transfer them to the Public Investment Fund (PIF), according to a Reuters report, citing Abdulaziz Al-Duailej, the head of Saudi Arabia’s General Authority of Civil Aviation. Some of the new companies may eventually be privatized, according to Al-Duailej.
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Saudi Arabia Plans PIF Takeover of Airport Operators with Eyes Toward Privatization
- December 21,2021
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- SUSTG Team
Saudi Arabia plans to convert its airport operators into holding companies and transfer them to the Public Investment Fund (PIF), according to a Reuters report, citing Abdulaziz Al-Duailej, the head of Saudi Arabia’s General Authority of Civil Aviation. Some of the new companies may eventually be privatized, according to Al-Duailej. Per Reuters: “The kingdom’s 22 airports […]
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It’s Official: Saudi Arabia Pitches Riyadh for 2030 World’s Fair
- December 16,2021
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- SUSTG Team
Saudi Arabia has officially submitted a bid to host Expo 2030 in Riyadh, with the Royal Commission for Riyadh City (RCRC) CEO Fahd Al-Rasheed submitting the Kingdom’s bid while addressing a virtual gathering of 170 member countries assembled to kickstart the five-stage bidding process that will conclude with voting in November 2023.
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MUST-READS
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TourismTourist visas for Saudi Arabia: ‘Most conservative country on Earth’ prepares for visitors
"We've been told by the tourism ministry to prepare," a hotel manager at a four-star hotel in Riyadh said. "Our staff will be allowed to shake a Western female guest's hand. They must treat her as she would be at home. "But at the same time we must not forget this is not the way to behave around Saudi women. It's a two-tier system we'll have to get used to."
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Housing and Real EstateSaudi Arabia’s $32 Billion Bid to Build Private Mortgage Market
Saudi Arabia plans to spend 120 billion riyals ($32 billion) on subsidized home loans for borrowers, as it seeks to create conditions for an expanded private-sector role in a mortgage market dominated by the government.
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Value-Added TaxSaudi Arabia increases salaries and allowances to offset VAT impact
King Salman has ordered an increase in the salaries and allowances of Saudi Arabia's public sector employees and military personnel to help offset the introduction of value-added tax (VAT) and a rise in fuel prices this year.
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VATSaudi Arabia mulls VAT exemption for education, healthcare sectors
Finance minister tells TV station the kingdom is considering exempting private firms from VAT
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VATSaudi Arabia, UAE introduce VAT in push to boost revenue
Saudi Arabia and the United Arab Emirates, once seen as the Gulf's leading tax havens, have imposed a 5 percent value-added tax on goods and services. Riyadh has also sought to balance its budget by upping fuel prices.
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VATNo VAT on expat remittances in Saudi Arabia, say bankers
enior bankers clarified on Sunday that money sent home by expatriate workers will not be taxed under the value-added tax (VAT) reform initiative to be launched by the Saudi government on Jan. 1 next year.
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VATSaudi Arabia to impose 5% VAT on fuel from January 1
The standard Value Added Tax (VAT) of five per cent will be applied to purchasing petrol, Saudi Arabia's General Authority of Zakat and Tax (GAZT) has said. The confirmation was stated in a reply to an online question whether there would be a VAT rate for petrol.
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InnovationTrying to balance financial stability with innovation: Saudi Arabia Monetary Agency
Trying to balance financial stability with innovation
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Housing and Real EstateHousing rents to be exempt from VAT in Saudi Arabia
Value Added Tax (VAT) will not be applicable to housing rents and government services in Saudi Arabia.
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Value-Added TaxSaudi Arabian VAT Registration Portal is Open
The Unified Agreement for VAT of the Cooperation Council for the Arab States of the Gulf, which was signed by the six member states of the Gulf Cooperation Council (GCC), requires signatories to enact domestic legislation introducing a 5% Value Added Tax (VAT) between January 1, 2018 and January 1, 2019.
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