Thursday 27 April 2017

Saudi reforms to continue: report

The introduction of excise taxes in Saudi Arabia is likely to bring in annual revenues of SR8-10 billion ($2.1-2.7 billion; 0.35 per cent of GDP), according to government estimates, said a report. While the 2.5 per cent real estate white land tax kicked in late March, proceeds of


Saudi reversal of allowance positive for economy

Saudi Arabia’s decision to reverse allowance cut is likely to boost overall consumption in the economy, as higher disposable income will benefit core consumption sectors i.e. retail and food sectors, a report said. Notably these were the sectors which saw the steepest fall


Cloud 'is a great enabler and equaliser'

‘Cloud’ is steadily and surely in the horizon of every business across the world. Cloud services are being increasingly used by companies big and small to reduce IT costs and to better efficiency. For startups and small and medium enterprises (SMEs) cloud is not just an option, but


Saudi diversification from oil ‘likely to take time’

Saudi Arabia’s initiatives to move from heavy dependence on the hydrocarbon sector will take time as long-term projects will face challenges such as the transfer of public sector jobs to the private sector, said an industry expert. Saudi Arabia’s weakness is its dependence


Populism across the West to drive GCC economy

As the rising tide of populism in the West erodes the foundations of the open market, the apparent retreat from globalisation may result in the GCC’s capital markets gaining huge momentum for growth, said an industry expert. Steen Jakobsen, chief economist of Saxo Bank, the


Robust Mideast activity despite global dip

Global cross-border M&A activity continued to dip as political turbulence and economic uncertainty become the new normal for dealmakers, while deal flow in the Middle East remained stable, according to a new report. Baker McKenzie's Cross-Border M&A Index, which track


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