QUOTED

Quoted

“The Ministry of Investment of Saudi Arabia announced that over 350 international investors have so far obtained licenses to establish their regional headquarters in KSA, most of which will be in Riyadh.” Saudi Regional Headquarters Program: an overview of tax and non-tax incentives [DLA Piper]

TOP STORY

Saudi’s Regional Headquarters Program Moves Forward

RHQ image, Riyadh

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.  [more]

 

MORE TOP STORYLINES

Blinken planning to visit Saudi Arabia this weekend

Via Barak Ravid in axios.com: Blinken is expected to participate at a special meeting of the World Economic Forum that will take place in Riyadh on April 28-29, the sources said. U.S. officials say Blinken is also considering traveling to Israel as part of this trip and meeting with Prime Minister Benjamin Netanyahu and other senior officials.

Prince Faisal: Saudi Arabia is more optimistic about regional stability and security

in saudigazette.com: Foreign Minister Prince Faisal bin Farhan said that Saudi Arabia is more optimistic about the stability and security of the countries in the region. He said that the Kingdom’s vision pushes towards the development, reconstruction and stability of the region and not toward unrest. The minister made the remarks while speaking to Al-Arabiya/Al-Hadath on the sidelines of the first high-level EU-GCC Forum on Regional Security and Cooperation held in Luxembourg.

No Soft Power Shake-Ups for Now

Via Julie Ray in gallup.com:

President Joe Biden may not have fully restored the image of the U.S. abroad, but it is in better condition now than it was under his predecessor and likely rival in the November election.

new Gallup report based on surveys in over 130 countries and territories shows that the median global approval rating of U.S. leadership stood at 41% in 2023, down from 45% during Biden’s first year in office but unchanged from his second.

Historically, the 41% approval rating is lower than all but one of the ratings under President Barack Obama but is higher than any of those under Presidents Donald Trump and George W. Bush.

 

MORE ON THE KINGDOM AND BEYOND

Senate Democrat raises concerns about US-Saudi nuclear deal

Sen. Ed Markey (D-Mass.), co-chair of the Nuclear Weapons and Arms Control Working Group, is raising concerns over Saudi Arabia’s intention to pursue...[By Laura Kelly via thehill.com]

 

Accenture Graduates first group from its capability hub in Saudi Arabia

The hub currently offers a rigorous multi-track training program accredited and exclusive to Accenture employees covering various areas such as security, cloud, data & AI,...[via timesaerospace.aero]

 

Saudi Arabia: High-net-worth Muslims eye luxury homes in holy cities, report finds

Saudi Arabia's drive to attract expats and boost its real estate market could be turbocharged by a largely untapped demographic in the global south: rich...[By Sean Mathews via middleeasteye.net]

 

Saudi Arabia balks at Israel normalization, floats ‘modest’ defense pact with US: Report

“Under that option, the US and Saudi Arabia would sign agreements on a bilateral defense pact, US help in the building of a Saudi civil nuclear energy industry, and...[via thecradle.co]

 

Six years to go, what Saudi Arabia’s Vision 2030 aims to achieve

Various reforms have been implemented to enhance the business climate, create jobs, and invite investment into the country. Under this initiative,...[By Yusra Asif via alarabiya.net]

 

Saudi Arabia foregoes April nuclear bid deadline

The 30 April bid deadline for nuclear technology providers to submit bids for a contract to build Saudi Arabia’s Duwaiheen nuclear power plant project has passed without...[By Jennifer Aguinaldo via meed.com]

 

Opinion: Israel and Saudi Arabia Are Trading Places

Saudi Arabia and Israel are America’s two most important Middle East allies, and the Biden administration is deeply involved with both today, trying...[By Thomas L. Friedman via nytimes.com]

 

Banking Giants Race to Riyadh as MBS Steps Up Pressure Campaign

The move is intended to lure business from international financial centers like Hong Kong and Singapore and particularly nearby Dubai. And bankers...[By Nicolas Parasie via bloomberg.com]

 

Saudi-US Defense Pact Faces Netanyahu Obstacle

To secure the 67 votes in the US Senate to become a binding treaty, as Riyadh insists, it almost certainly needs Saudi...[By Henry Meyer via bloomberg.com]

 

Israel gears up for Rafah civilian evacuation ahead of promised assault

Israel has procured tens of thousands of tents for Palestinian civilians it intends to evacuate from Rafah...[By Dan Williams via reuters.com]

 

Inside the White House’s Scramble to Avert a Bigger Middle East War

Over the course of 19 days, U.S. officials raced to contain escalating tensions between Israel and Iran amid a series of attacks. WSJ’s Michael...[By Michael R. Gordon via wsj.com]

 

Will Biden enable Pakistani energy imports from Iran?

Ebrahim Raisi has traveled to Pakistan, marking the first trip by an Iranian president to the country’s eastern neighbor in over eight years. Iranian state...[via amwaj.media]

 

Despite backlash, Bahrain goes all in on supercar brand

Mumtalakat, Bahrain’s sovereign wealth fund, last month expanded its shares to become sole owner of the British McLaren Group....[By Nazeeha Saeed via amwaj.media]

 
 

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