‘Magical wealth manager’ scams $3.7m from believers
Saudi police arrest expat claiming he could double people’s wealth using magic
Saudi Arabia
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Saudi university to deliver CISI qualifications
The partnership is designed to help fill the region’s need for a ‘high standard of professionalism’
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Saudi Arabia emerging market upgrade creates opportunities
Saudi Arabia’s promotion from frontier to emerging market in FTSE Russell indices is an opportunity for short-term investors to take profits, while longer-term investors can take the announcement as confirmation the market is moving in the right direction.
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Saudi expat tax rumours not true, confirms ministry
Saudi Arabia’s Ministry of Labor and Social Development has categorically denied a rumour that expat workers in the kingdom will be hit with a 10% tax on their monthly salaries.
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UAE advisers taking cautious approach to VAT
Financial advisory firms operating in the UAE say while they still have questions about how the government’s new Value Added Tax (VAT) impacts the financial sector, it is better to be safe than sorry and assume it applicable to the services they provide.
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Swiss spat with Saudi and NZ the tip of the CRS iceberg
The lower house of the Swiss parliament has rejected automatic exchange of information (AEOI) agreements with New Zealand and Saudi Arabia but has given the green light to ratify deals with 39 other nations.
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Saudi expat employment visas slashed
Expats working in Saudi Arabia will now only be able to apply for one-year employment visas after the Ministry of Labor and Social Development cut the duration in half.
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Saudi eases investment and asset management rules
Asset management and other investment firms will find it easier to open and operate in Saudi Arabia after the country’s Capital Market Authority (CMA) loosened its licensing rules.
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Saudi Arabia gets a new bankruptcy law
Saudi Arabia is planning to follow the United Arab Emirates in introducing a bankruptcy law to help its efforts to boost foreign investment into the oil-dependent economy, according to the Al Arabiya news channel.
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Saudi Arabia scales back Vision 2030 plan to diversify economy
Saudi Arabia is redrafting a series of reforms aimed at boosting the country’s non-oil revenue, amid concerns some of the initiatives could negatively impact the economy.
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Saudi Arabia opens registration for VAT to top up oil revenue
Saudi Arabia has opened registration for the new 5% value added tax (VAT), which begins on 1 January next year as part of a move to diversify its economy away from a reliance on oil revenues.
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Goldman Sachs gets Saudi equities trading licence
Goldman Sachs received approval on Sunday to trade equities in Saudi Arabia, joining a growing cohort of western investment banks and fund managers expanding in the kingdom.