Saudi Arabia

Middle East | 10 Jan 16

Saudi Arabia’s deputy crown prince has said the kingdom rules out introducing income and wealth taxes but aims to go live with VAT by the end of 2016.

Middle East | 11 Dec 15

Healthcare and education will be excluded from a planned Gulf-wide value added tax (VAT) scheme, which the Middle East region’s finance ministers have agreed on to shore up revenues in the wake of the recent sharp fall in oil prices.

Middle East | 6 Nov 15

The sharp fall in oil prices and the impact it will have on Saudi Arabia’s government finances led ratings agency Standard and Poor’s to cut its credit rankings for eight of the country’s major banks on Friday.

Middle East | 28 Sep 15

Saudi Arabia has reportedly withdrawn tens of billions of dollars from global asset management firms in response to the ongoing slump in oil price and the recent volatility in world equity markets.

Investment | 14 Sep 15

The collapse in oil prices and volatility in the emerging markets induced by China’s slowdown has hurt stocks in the Middle East but has not knocked the region’s major equity markets off their positive trajectory, said Amundi fund manager Remy Marcel.