3 posts

Tag - GCC Economy

Aramco today announced the successful completion of its share acquisition of a 70 percent stake in Saudi Basic Industries Corporation, SABIC, from the Public Investment Fund, PIF, the sovereign wealth fund of Saudi Arabia, for a total purchase price of SAR 259.125 billion (US$ 69.1 billion)

Saudi Arabia will increase its value-added tax, VAT, from 5 to 15 percent in July, the Finance Ministry said on Monday, as part of moves to support the economy amid the novel coronavirus pandemic, reported the Deutsche Presse-Agentur, DPA.

His Royal Highness Prince Mohammed bin Salman bin Abdulaziz, Crown Prince, Deputy Prime Minister and Minister of Defense of Saudi Arabia, received today a telephone call from President Vladimir Putin of Russia, SPA reported.

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