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Saudi Arabia

Saudi, UAE say Brexit to have little impact on their financial institutions

Saudi said it had already made some adjustments to assets denominated in sterling and euros

Court orders Germany to decide on gun exports to Saudi Arabia

The government will now have to decide whether to allow gunmaker Heckler & Koch to export parts to Saudi

SeaWorld eyes Saudi theme park

The company was previously linked with an attraction in Dubai

Saudi land tax could see prices drop by 40%

A 2.5 per cent tax on unused land was approved earlier this month

Saudi’s King Salman to announce $1.35bn of projects in Madinah

The projects will cover healthcare, education, culture and electricity and water

Saudi deputy crown prince meets UN chief, discusses Yemen

A recent UN report blamed the Saudi-led coalition in Yemen for 60 per cent of child deaths and injuries in the conflict

Deloitte says ‘disappointed’ by Saudi regulator ban

The company is barred from offering auditing services to CMA-authorised companies in Saudi for two years

Kuwait’s Alghanim to launch Wendy’s fast food chain in Saudi

Announcement follows the company’s acqusition of the regional rights to the brand in 2015

Saudi eyes 2,000 jobs for car accident assessors

The new scheme aims to digitise the process for car accident insurance claims

Saudi reports at least 20 new MERS cases due to misdiagnosis

The World Health Organisation says outbreak in Riyadh was started by a 49-year-old woman

Wasta seen as main source of corruption in Saudi

National Anti Corruption Commission study encourages greater punishment for corrupt practices

Saudi contractor MMG says its board has resigned

Last week, Saudi’s stock market regulator fined MMG SAR 1.6bn and sentenced three people to jail

Saudi Arabia buys 315,000 tonnes of hard wheat

The wheat purchased was of European, North American and Australian origin

Saudi regulator bans Deloitte from audit work for two years

Deloitte has been barred because of its involvement with troubled Saudi contractor MMG

Saudi, US ties strong ‘irrespective of who is in the White House’ – minister

Saudi’s Deputy Crown Prince Mohammed bin Salman met with US president Obama last week

Saudi market regulator jails two executives of contractor MMG

The company’s founder Mohammad Al-Mojil and his son Adel Al-Mojil were sentenced to five years in prison.

Saudi cabinet approves regulations for ‘white land’ tax

Proposals aimed at reducing housing shortage in urban areas

Saudi prince to meet Obama as he promotes his reform plan in the US

Mohammed bin Salman’s visit is also aimed at restoring frayed ties with Washington

Saudi retailer Alhokair approves sale of Spain’s Blanco

Alhokair’s board approved the sale of the firm’s investment in Blanco for $93m

Saudi cabinet approves land tax, foreign investment rules

Foreign investors will be able to own 100 per cent of retail and wholesale businesses

UAE, Saudi condemn deadly terror attack in Orlando

The attack at the Pulse club on Sunday left 49 people dead

Saudi Arabia implements strict anti-smoking laws

The kingdom bans smoking in public areas and regulates tobacco sale

Saudi Electricity invites global bids for two solar plants

Each plant will generate up to 50MW using photovoltaic technology

Riyadh Metro project now 36% complete

Tunneling excavation work completed on the $2.27bn Green line

New SaudiGulf airline gets licence to begin domestic flights

The new airline will be awarded a national carrier licence on June 22

Saudi may begin privatising postal system by 2017

Authorities are still studying how much of Saudi Postal would be sold

Landmark Saudi bond takes step forward

The kingdom is expected to raise at least $10bn as it seeks to tackle its burgeoning fiscal deficit

Saudi Arabia seeks partners to build 1.5 million homes

Saudi government offers property developers partnership deals to address a shortage of affordable housing

Final rules due on Saudi Arabia’s undeveloped land tax

The tax will be equivalent to 2.5 per cent of the value of the land held

IMF warns GCC governments to up deficit reduction measures

The fund said an additional substantial deficit reduction effort is required in the region