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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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Saudi Arabia's reserves continued to decline over the January-May 2017 period and stand now at $499 billion.(AFP/ File)
August 23rd, 2017 - 02:06 GMT

Saudi Arabia's Current Account Back in Surplus as Oil Rebounds: Report

Traditional and alternative medicines and therapies (reflexology, acupuncture, etc.) and cosmetic surgery will all be subject to VAT. (File photo)
August 23rd, 2017 - 01:50 GMT

How Will VAT Affect the UAE Healthcare Sector?

The forum will discuss joint investment opportunities between the two countries. (Shutterstock)
August 23rd, 2017 - 01:35 GMT

Major Saudi-Chinese Investment Forum Set in Jeddah Tomorrow

King Salman attending talks at the 26th Arab League Summit in Sharm el-Sheikh, Egypt, on March 28, 2015. (AFP)
August 23rd, 2017 - 01:33 GMT

Saudi Arabia Eyes Joint Investment Fund With China, With a Focus on Energy

According to the law, tobacco and energy drinks will be taxed at 100 percent, while other soft drinks will receive a 50 percent levy. (File photo)
August 23rd, 2017 - 10:22 GMT

UAE to Apply 100% Tax on Tobacco, Energy Drinks Starting October 1

During the meeting, Minister Al Mansoori expressed the UAE's move to increase its efforts towards further reinforcing economic and trade cooperation with the US.
August 23rd, 2017 - 05:31 GMT

UAE Ministry of Economy Steps up Efforts to Further Reinforce Economic and Trade Cooperation With US

About 99 percent of 'tasattur' in Saudi Arabia is in small and medium-sized enterprises. (AFP/ File)
August 22nd, 2017 - 12:42 GMT

'Tasattur' Prevalent Among SMEs in Saudi Arabia, Says Official

Saudi Arabia is expected to face a recession in 2017, according to Bank of America. (Shutterstock)
August 22nd, 2017 - 12:19 GMT

Expat Fee, VAT to Add $21 Billion to Saudi Arabia's Revenues in 2018: BoA

Austerity is paying off for Oman. (File photo)
August 22nd, 2017 - 11:37 GMT

Oman's Economy Grows 12 Percent on Higher Oil Prices, Subsidy Cuts

Lebanese protesters wave the national flag in front of a barbed wire fence as large crowds rally in Beirut on August 23, 2015. (Anwar Amro/ AFP)
August 22nd, 2017 - 10:54 GMT

Lebanese President Approves Controversial Salary Scale, Tax Hike Laws

Students line up as they enter their classroom on the first day of the academic year for public schools in Dubai on September 27, 2009. (Karim Sahib/ AFP)
August 22nd, 2017 - 10:08 GMT

VAT Not Applicable to Schools, Nurseries: UAE's Tax Authority

Abu Dhabi City Municipality
August 22nd, 2017 - 06:27 GMT

ADM Launches 3-Day Inspection Campaigns on Men's Salons in Musaffah Industrial, Serves 35 Warnings

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