Tuesday, December 11, 2018

Money & Business

Saudi Arabia Gave Richard Branson $1 Billion to Go to Space

Last week, the Kingdom of Saudi Arabia announced that it would invest $1 billion in Richard Branson’s space companies, including Virgin Galactic. Earlier this year,...

15 year cap on expatriates in Kuwait proposed

Amid increasingly louder cries to address the demographic imbalance in Kuwait, a parliamentary committee has started looking into proposals, including a 15-year cap. A proposal...

VAT “to increase costs for real estate investors”

Real estate is likely to become a costlier investment across the GCC region following the implementation of VAT (value-added tax), a survey of local...

Bahrain: action urged against stockpiling cigarettes

Tourists from Saudi Arabia are initially thought to have been buying up stocks to avoid higher prices back home, but now speculation abounds that...

Bahrain: Religious concerns may delay “sin tax”

A parliamentary committee yesterday recommended that MPs should block the introduction of a selective tax on harmful products, which would initially double the price...

Kuwait to build $112.5 billion “gold city”

The Ministry of Commerce and Industry asked Kuwait Municipality to allocate a plot to build a special ‘gold and jewelry city’ over a total...

NEOM: Saudi’s city of the future

In October, Saudi Arabia’s Crown Prince Mohammed bin Salman (MBS) unveiled Riyadh’s plans for NEOM, a futuristic desert city that he hailed as a...

Donald Trump wants Saudi Aramco listed in the New York Stock...

President Donald Trump told reporters on Sunday as Air Force One flew to Japan that he wants Saudi Arabia “to strongly consider the New York stock...

Game of Thrones in Saudi Arabia

The so-called corruption crackdown in Saudi Arabia over the weekend may be the beginning of a bigger power struggle by the heir apparent to...

Dh1,000 fine for driving hard shoulder in the UAE

Special warning for motorists driving on hard shoulder. Hard shoulder driving will attract is Dh1,000 fine plus six black points. Drivers caught blocking emergency vehicles...

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