Business

Saudi: Entities with Sales over $100,000 to Face VAT

Saudi: Entities with Sales over $100,000 to Face VAT

The Saudi General Authority for Zakat and Income Tax announced that on December 20 it will set a date for mandatory registration of establishments with sales ranging between $100,000 and $266,000 annually, currently exempt from Value Added Tax. The Authority approved a set of fines facing all ent

SAMA Warns Against Dealing with Unlicensed, Violating Insurers

SAMA Warns Against Dealing with Unlicensed, Violating Insurers

Saudi Arabian Monetary Authority issued an official statement on Monday warning against dealing with persons not licensed to practice insurance activities in the kingdom. In a step to ensure that citizens and residents receive fair prices and the best insurance services, SAMA warns against fallin

Bahrain’s GFH Achieves $72.5 Net Profit for Shareholders in H1 2018

Bahrain-based GFH Financial Group (GFH) reported a net profit attributable to shareholders of $72.5 million for the first half of the year, representing a 16.7 percent increase from $62.1 million in the first half of 2017. The Group reported a consolidated net profit of $73.4 million for the firs

Japan Inc. Needs to Pay for Performance

Japan Inc. Needs to Pay for Performance

Almost three decades ago, the Texan oilman T. Boone Pickens attempted to charge into a Japanese boardroom. He had accumulated around one-third of the company – worth almost $1 billion at the time – yet a seat at the table eluded him.

Erdogan Urges Turks to Exchange Gold as Lira Plummets to Record Low

Erdogan Urges Turks to Exchange Gold as Lira Plummets to Record Low

The Turkish lira plummeted to record lows against the dollar on Friday prompting President Recep Tayyip Erdogan to urge Turks to exchange gold and hard currency into the national currency. Deeping it a “national battle” against economic enemies, he told a crowd in the northeastern city of Bayburt

Saudi Arabia Makes SAR3.2 Billion Payment in Citizens Account Program

Saudi Arabia Makes SAR3.2 Billion Payment in Citizens Account Program

Saudi Arabia has made an installment of 2.3 billion riyals into the kingdom’s household allowance program, in the ninth payment to beneficiaries. Known as the Citizens Account, the scheme is a cash handout for low- and middle-income citizens to offset the impact of energy price increases. The

Energy Minister: Saudi Oil Policy is Not Influenced by Politics

Energy Minister: Saudi Oil Policy is Not Influenced by Politics

Saudi Minister of Energy, Industry and Mineral Resources, Khalid Al-Falih stressed on Wednesday that the Kingdom’s oil policy and supplies to countries around the world are not impacted by political considerations, reported the Saudi Press Agency. This is a firm and longstanding policy that is no

Pages