Press Dossier   By Date  11/09/2021
Abu Dhabi Ports, French company invest Dh570 million in new terminal
Abu Dhabi Ports Group and France-based CMA CGM Group, a world leader in shipping and logistics, announced on Thursday the signing of a 35-year concession agreement that involves an investment of Dh570 million in the new terminal at Khalifa Port.
Saudi Arabia prepares rollout of e-invoicing scheme that could address ‘shadow economy’
The first phase of Saudi Arabia’s e-invoicing project, Fatoorah, is set to be effective in less than three months, according to Zakat, Tax and Customs Authority (ZATCA).
Saudi Arabia announces the General Real Estate Authority new role
The Saudi Cabinet recently agreed to amend the regulation of the General Real Estate Authority to make its primary role to register properties in the Kingdom, and to work on organizing, supervising and developing non-governmental real estate activity, the official Umm Al-Qura paper reported.
Saudi government lent $700m to national development funds in 2020
The Saudi government extended a further SR2.63 billion ($701.2 million) to institutions including the Real Estate Development Fund (REDF), last year, Okaz newspaper reported, citing publicly available information.
GCC food consumption to grow at moderate pace
Food consumption in the GCC is expected to grow at a moderate pace on the back of growing population, economic recovery and reopening of the hospitality and tourism sectors.
Riyadh Capital CIO doesn’t rule out VAT reduction as non-oil economy slows
Saudi Arabia may lower its value-added tax from its current 15 percent rate to 10 percent to counter a slowdown in the Kingdom’s non-oil economy in the second half of the year, according to Riyadh Capital Chief Investment Officer Hans-Peter Huber.
Emirates to restart Saudi flights from Sept. 11
Dubai carrier Emirates said it will restart services to Saudi Arabia from Sept. 11, 2021, following the Kingdom’s reopening of borders with the UAE due to falling risks from COVID-19.
Kuwait Airways re-launches flight to 11 destinations
Kuwait Airways announced re-launching commercial flights scheduled to 11 destinations in India, Pakistan, Bangladesh and Sri Lanka starting from Tuesday. The destinations include Mumbai, Delhi, Kochi, Chennai and Trivandrum; with two flights a week scheduled, in addition to Bangalore and Ahmadabad with one flight a week, the airline said in a statement yesterday.
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