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  • Saudi Arabia approves new tax scheme at arrivals duty-free stores

    In big breaking news for the fast-growing Saudi travel retail industry, the Zakat, Tax and Customs Authority (ZATCA) has approved a tax scheme that allows travellers to be exempted from customs duties and taxes when purchasing at duty-free arrivals stores at all land, sea and air customs points in the Kingdom.

  • Saudi Arabia issues royal decrees

    Saudi Arabia issued various royal decrees on Wednesday. They are as follows: Prince Abdulaziz bin Mohammed bin Abdulaziz bin Ayyaf Al-Muqrin was appointed special adviser to King Salman at the rank of minister. He is also responsible for carrying out the work of deputy minister of the National Guard. Abdul Mohsen bin Abdulaziz Al-Tuwaijri was relieved of his position as deputy minister of the National Guard and appointed as an adviser to the Royal Court at the rank of minister.

  • Saudi’s new mining vehicle picks industry veteran as first CEO

    Saudi Arabia’s Manara Minerals Investment Co. hired veteran dealmaker Pierre Chenard to be its first permanent chief executive officer, as the mining investment firm searches for more assets.

    Manara, backed by the Saudi sovereign wealth fund, is spearheading the kingdom’s ambitious plan to become a major player in metals and mining. The vehicle has been tasked with snapping up stakes in mines overseas and funneling the raw materials back to Saudi Arabia for processing.

  • How Do You Solve a Problem Like the Houthis?

    The last seven months have made two things clear. First, the Houthi threat to commercial shipping and freedom of navigation is not going to disappear. This will remain true whether there is a cease-fire in Gaza or not – the genie is out of the bottle, and it will be very hard to contain it. Second, the United States does not have a good toolbox to counter the Houthi threat. As Haines told Congress, U.S. actions have “been insufficient to really stop the Houthis from going down this road.” All of this raises the key question: How can the United States deal with a long-term and enduring challenge like Houthi attacks on commercial shipping?

  • How new Saudi Pro League rules could have huge Liverpool transfer implications

    The quota for foreign players joining Saudi clubs has been extended from eight to 10 for next season, giving them more freedom to target big names. They could be helped further by plans to attract sponsorship from private businesses for teams not backed by the country’s Public Investment Fund (PIF).

  • US Senator Graham says Saudi Crown Prince has clear vision that will change Mideast

    Saudi Arabia’s Crown Prince Mohammed bin Salman has a clear vision that will change the face of the Middle East and help achieve peace in the region, US Republican Senator Lindsey Graham told Al Arabiya in an exclusive interview.

    Noting that he traveled to the Kingdom and Israel four times since Oct 7, Graham said the purpose of his visits was not only “to find a way to end the war, but [also] create peace.”

  • Saudi Wealth Fund Slashes Reported Holdings of US Equities

    Saudi Arabia’s sovereign wealth fund slashed the number of US stocks it reported owning at the end of the first quarter, roughly halving its direct holdings in those equities.

    The Riyadh-based Public Investment Fund held US-traded stocks with a market value of about $18 billion as of March 31, down from $35 billion at year-end, according to an analysis of a Form 13F filed Wednesday with the US Securities and Exchange Commission.

  • Saudi Arabia launches digital identity service, new passport stamp for Hajj pilgrims

    Saudi Arabia’s Ministry of Interior on Wednesday launched the digital identity service for pilgrims arriving from outside the Kingdom on Hajj visas for this season, the Saudi Press Agency reported.

    The ministry also launched a special passport stamp for pilgrims benefiting from the Mecca Route Initiative.

  • Princess Nourah University Organizes Scientific Conference on Conveying Saudi Identity across Languages, Cultures

    The conference aimed to contribute to achieving the first goal of the Saudi Vision 2030 related to enhancing Islamic values and national identity by conveying Saudi identity across languages and cultures and conveying the Kingdom's cultural, literary, historical, and civilizational heritage to the world. It also sought to raise awareness of the importance of languages, translation, and cultural studies in promoting and conveying the national identity to others, ultimately creating a competitive atmosphere among university students in the Kingdom to introduce their national identity through different languages and cultures.

  • Shamoon virus returns in Saudi computer attacks after four-year hiatus

    Shamoon, the destructive computer virus that four years ago crippled tens of thousands of computers at Middle Eastern energy companies, was used two weeks ago to attack computers in Saudi Arabia, according to several U.S. cyber security firms.
    CrowdStrike, FireEye Inc, Intel Corp's McAfee security unit, Palo Alto Networks Inc and Symantec Corp warned of the attacks, though they did not name any victims. They did not say how much damage had been caused or identify the hackers using Shamoon, which cripples computers by wiping drives used to start machines.