Government | Saturday 28 December, 2024 10:07 am

ZATCA sets criteria for target taxpayers in Wave 19 of e-invoicing

Zakat, Tax and Customs Authority (ZATCA) determined the criteria for selecting the target taxpayers in Wave 19 for implementing the "integration phase" of e-invoicing.   In a statement, the authority clarified that this wave included all taxpayers whose revenues subject to VAT...

More Details

Business & Money | Saturday 28 December, 2024 9:57 am

Social Development Bank grants SAR 8B financing in 2024

The Social Development Bank (SDB) provided SAR 8 billion financing in 2024, achieving its full-year targets in financing and developmental support, alongside expanding its non-financial services, the state-run SPA reported.   SDB said 122,000 benefited from the bank’s loans. A...

More Details

Business & Money | Saturday 28 December, 2024 9:55 am

Oman exempts Saudi investors from taxes in Madayn: Official

Oman decided to exempt Saudi industrial investors in Industrial Estates (Madayn) from taxes, Al-Eqtisadiah reported, citing Nasser Al-Hajri, Chairman of the Saudi-Oman Business Council.   This announcement was made during meetings held between the Saudi-Oman Business Council and Qais ...

More Details

Business & Money | Friday 27 December, 2024 9:22 am

Leejam approves CEO resignation, Abdulelah Al-Nemr succeeds

Leejam Sports Co.’s board of directors approved today, Dec. 26, the resignation of CEO Adnan Al-Khalaf. In a statement to Tadawul, the company said Al-Khalaf’s resignation was due to his decision not to renew his contract. His resignation will take effect upon expiry of his post on Feb....

More Details

Business & Money | Friday 27 December, 2024 9:19 am

Al Yamamah Steel holds 60% of Saudi renewable energy market: CEO

Al Yamamah Steel Industries Co.’s CEO Sahel Al Thobiti stated that the company controls over 60% of renewable energy projects in Saudi Arabia and exports to select international markets.   In an interview with CNBC Arabia, he said the company reported a 340% year-over-year (YoY)...

More Details

Government | Friday 27 December, 2024 9:17 am

CEDA discusses economic issues

The Council of Economic and Development Affairs (CEDA) discussed the December economic report, presented by the Ministry of Economy and Planning, during a virtual meeting.  The report included an analysis of the latest global economic developments, challenges ...

More Details

Business & Money | Thursday 26 December, 2024 11:16 am

MIS wins 2 projects worth SAR 101.8M with Ministry of Health

Al Moammar Information Systems Co. (MIS) announced that it was awarded two projects with the Ministry of Health (General Bureau), at a total value of SAR 101.8 million, including value-added tax (VAT). The company said in two separate statements on Tadawul that...

More Details

Business & Money | Thursday 26 December, 2024 9:06 am

From Innovation to Impact: KFSHRC's 3D Printing Project Wins Global Recognition

King Faisal Specialist Hospital & Research Centre (KFSHRC) has been awarded the Global Excellence Award in Technology Project Management for 2024 by the Global Project Management Forum (GPMF) for its pioneering 3D Printing Project. The project has revolutionized healthcare delivery, enhancing...

More Details

Business & Money | Wednesday 25 December, 2024 10:28 am

Moody's, Fitch assign Aramco's commercial paper program short-term ratings

Credit rating agencies Moody's and Fitch assigned short-term ratings to Saudi Aramco's $10 billion commercial paper program. Moody's assigned a Prime-1 short-term rating to Aramco, along with the same rating for the company’s commercial paper program. It also reaffirmed Aramco's long-term...

More Details

Business & Money | Wednesday 25 December, 2024 9:23 am

KHC acquires stake in xAI for SAR 1.5B

Kingdom Holding Co. (KHC) acquired a stake in xAI CORP. (xAI) for SAR 1.5 billion ($400 million), as part of xAI’s Series C funding round, according to a statement to Tadawul. This followed KHC's previous investment at the same value in xAI during its Series B funding round. The financing...

More Details