Saudi Arabia ranked first on the government electronic and mobile services maturity index (GEMS) 2023, issued by the UN Economic and Social Commission for Western Asia (ESCWA). The Kingdom maintained its leading position for the second consecutive time, with a maturity of 93%. ...
The GCC Supreme Council's approval of the unified tourist visa is a historic step that reflects its commitment to strengthening cooperation and deepening ties in the field of tourism, said Minister of Tourism Ahmed Al Khateeb. The decision will help the gulf countries become a global tourist...
The REITs dominate 34% of the total size of funds in Saudi Arabia, with SAR 192 billion, Al Eqtisadiah newspaper reported, citing Fahad bin Hamdan, Assistant Deputy, Financing, and Investment at the Capital Market Authority (CMA). REITs dominated nearly 18% of the total funds...
Minister of Municipal, Rural Affairs and Housing Majid Al-Hogail witnessed the signing of SAR 2.4 billion worth of memorandums of understanding (MoUs) and agreements, along with the launch of three real estate funds at over SAR 1 billion. The agreements were signed...
Rothschild & Co. opened today, Feb. 18, a new office in Riyadh-based King Abdullah Financial District (KAFD), as part of its strategic expansion in Saudi Arabia, boosting its Middle East presence. The company said this reflects its commitment to Saudi Arabia's growth potential. ...
Saudi Arabia continued to advance on the Road Quality Index (RQI) to the level of 5.7, taking the fourth place globally among the G20 countries, the Saudi Press Agency (SPA) reported, citing the World Economic Forum (WEF) report for 2023. The Roads General Authority (RGA) indicated ...
Mohammad Al-Sulaiman, CEO of the National Real Estate Registration Services Co. (Real Estate Registry - RER), said 2024 will be a distinguished year for the real estate registry, Al Eqtisadiah newspaper reported. He pointed out that 80% of the Kingdom's real estate will likely be...
Umm Al-Qura newspaper published on Feb. 16 the tax rules for regional headquarters (RHQ), which include the provisions related to the tax incentives granted to RHQ. The rules will be effective as of their publication date. Under the rules, the RHQ that meet the...
Advanced Petrochemical Co. signed EPC contracts to build the isopropanol plant in Jubail Industrial City using the manufacturing tech from Germany’s Thyssenkrupp at a total value of $191.26 million (SAR 717.23 million). In an emailed statement to Argaam, Advanced said the project will...
The Saudi Central Bank (SAMA) announced today, Fqb 15, the working hours for financial institutions during the holy month of Ramadan, in addition to Eid Al-Fitr and Eid Al-Adha holidays. Banks will work from 10 am until 4 pm during Ramadan. Working hours for banks' foreign...