Saudi Arabia said Monday it would triple its value-added tax rate and eliminate allowances for state workers, adopting austerity measures aimed at boosting state finances battered by the coronavirus pandemic Continue Reading
At no time since Ibn Saud first consolidated his Arabian conquests into the Kingdom of Saudi Arabia in 1932 has the ruling Saud dynasty faced such an existential threat to Continue Reading
Saudi Aramco is looking to restructure its deal to acquire a controlling stake in petrochemicals maker SABIC after a more than 40% drop in SABIC’s value following a slump in Continue Reading
Saudi Arabia announced a slew of austerity measures to cope with the impact of the coronavirus pandemic and an oil-price rout, tripling its value-added tax and cutting a cost-of-living allowance Continue Reading
WASHINGTON (Reuters) – U.S. President Donald Trump and Saudi Arabia’s King Salman spoke by phone on Friday and “reaffirmed the strong United States-Saudi defense partnership,” the White House said, amid Continue Reading
The U.S. is removing Patriot antimissile systems from Saudi Arabia and is considering reductions to other military capabilities—marking the end, for now, of a large-scale military buildup to counter Iran, Continue Reading
The Saudi-Russian oil price war may be officially over with the new, historic, OPEC+ deal, but Saudi Arabia has continued to aggressively pursue additional market share in Asia and managed Continue Reading
It is becoming increasingly clear that the ongoing oil demand destruction, COVID-19 lockdowns and financial crisis are going to significantly impact Saudi Arabia. In a dramatic appearance, Saudi Minister of Continue Reading
Time is running out for oil-dependent nations. The world is transforming quickly and climate change is accelerating oil’s demise even faster. Despite fossil fuel’s so-called imminent fall of grace with Continue Reading
Saudi Arabia is taking unprecedented measures to cushion the blow of rock-bottom oil prices and the new coronavirus pandemic, as the monarchy seeks to extricate the kingdom from its worst Continue Reading
