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Economy and Policy

Economy and Policy latest

US Aircraft Carrier in the Arabian Sea
July 16th, 2026 - 06:46 GMT
P. Choiaqo

P. Choiaqo

Saudi Arabia to buy $2 billion worth of weapons from the US

ALBAWABA - The sale of an estimated $1.96 billion worth of weapons focused on air defenses to Saudi Arabia has been approved, according to the U.S. State Department. The weapons sought by the Kingdom of Saudi Arabia are around 20,000 Advanced Precision Kill Weapon Systems and its warheads which are described as "an inexpensive way to destroy targets while limiting collateral damage in close combat.” According to the U.S. Navy ...
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Inflation in Saudi Arabia is likely to rise in coming months on the back of the hike in electricity prices, fuel prices and implementation of a VAT regime. (AFP)
January 2nd, 2018 - 09:00 GMT

Inflation to Rise in Saudi Arabia With VAT, New Fuel Prices

The introduction of a VAT regime in the UAE marks the beginning of a new era for the UAE economy where the general public will start sharing the burden of budgetary expenditure. (AFP)
January 2nd, 2018 - 08:00 GMT

VAT Begins in UAE: How Will It Affect Purchasing Power?

Iran and Russia are finalizing an agreement between their central banks to overcome financial sanctions by the US. (AFP)
January 1st, 2018 - 09:37 GMT

Iran, Russia Finalizing Deal to Integrate Their Banking Systems

From the year’s biggest IPOs to Saudi Arabia’s new dependent fee and the Qatar crisis, here’s a roundup of some of the most significant business stories of 2017. (AFP)
December 31st, 2017 - 05:28 GMT

2017 Year in Review: Al Bawaba’s Top 10 Business Stories

Qatar’s trade surplus expanded to QR12.8 billion in November, a 32 percent jump from a year ago. (Shutterstock)
December 31st, 2017 - 10:00 GMT

Qatar’s Trade Surplus Up 32 Percent in 2017, Despite Blockade

Saudi Arabia has announced that it is working on a mechanism to return the value-added tax (VAT) to tourists in 2018. (Shutterstock)
December 31st, 2017 - 09:00 GMT

Tourists to Get Refund on VAT Paid in Saudi Arabia

Public transportation in the UAE under the Executive Regulations Article 45 are exempt. (File photo)
December 28th, 2017 - 10:00 GMT

No VAT on Dubai Metro, Taxis in UAE

The agreement was signed at Dar Al Ber main office by Khalil Saqer bin Gharib, Director of Corporate Communication Department and Hisham Ali Al Hashimi, Deputy Executive Director of Dar Al Ber Society.
December 28th, 2017 - 09:59 GMT

Dubai Customs Concludes Year of Giving Building a Mosque in Niger

Qatar facilitated faster customs procedures in 2017, which in turn helped diversify the sources of direct imports to the country. (File photo)
December 28th, 2017 - 09:00 GMT

Qatar Finds New Suppliers of Strategic Goods in 2017: Official

The skills in highest demand in 2018, which are likely to see an increase salary wise, are VAT expertise and digital. (File photo)
December 28th, 2017 - 08:00 GMT

Will Your Pay Hike Beat VAT in UAE?

Turkish Economy Minister Nihat Zeybekci said the country is expected to exceed its revised export target of $156.5 billion by the end of 2017. (AFP)
December 27th, 2017 - 11:06 GMT

Turkey’s Exports to Exceed Targets in 2017: Official

Inflation in Saudi Arabia is expected to pick up dramatically in 2018, with the implementation of VAT and new fuel prices. (Hassan Ammar/ AFP)
December 26th, 2017 - 12:22 GMT

VAT Is Coming: Saudis Brace For Rising Inflation In 2018

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