Mohammed Al-Kinani

2 weeks ago | arabnews.pk | Mohammed Al-Kinani

JEDDAH: Saudi Arabia has raised the annual fee on undeveloped land from 2.5 percent to up to 10 percent of property value, as part of Cabinet-approved reforms to address market imbalances. The amendments to the White Land Tax Law expand its scope for the first time to include levies on long-vacant buildings and revised land-size thresholds for taxation. The changes, ratified by the Cabinet on April 29, mark the most significant overhaul of the law since its inception in 2016.

2 weeks ago | arabnews.com | Mohammed Al-Kinani

JEDDAH: Saudi Arabia has raised the annual fee on undeveloped land from 2.5 percent to up to 10 percent of property value, as part of Cabinet-approved reforms to address market imbalances. The amendments to the White Land Tax Law expand its scope for the first time to include levies on long-vacant buildings and revised land-size thresholds for taxation. The changes, ratified by the Cabinet on April 29, mark the most significant overhaul of the law since its inception in 2016.

2 weeks ago | arabnews.com | Mohammed Al-Kinani

JEDDAH: Saudi Arabia’s Diriyah Co. has awarded a SR4.22 billion ($1.13 billion) construction contract to relocate King Saud University’s utilities and administration offices, advancing infrastructure development in one of the Kingdom’s flagship urban projects. The project was given to a joint venture between China Railway Construction Corp.’s Saudi branch and China Railway Construction Group Central Plain Construction Co., according to a press release.

2 weeks ago | arabnews.com | Mohammed Al-Kinani

JEDDAH: Qatar recorded 50 million riyals ($13.8 million) in new industrial investments and a 32 percent rise in commercial registrations in the first quarter of 2025, underscoring momentum in its economic diversification and reform agenda. At its quarterly meeting held on April 28 and chaired by Minister of Commerce and Industry Sheikh Faisal bin Thani Al-Thani, the ministry reviewed key performance indicators and introduced several policy updates aimed at bolstering the business environment.

2 weeks ago | arab.news | Haifa Alshammari |Nour El-Shaeri |Nadin Hassan |Mohammed Al-Kinani

ISLAMABAD: Pakistan’s average inflation is expected to remain in the 5.5-7.5% range in the fiscal year ending June 2025, the country’s central bank said in its half-yearly economic report this week, stating that its real GDP growth is expected to hover between 2.5-3.5%. Pakistan’s economy has improved in recent months, supported by declining inflation, which caused the central bank to reduce its policy rate to 12% after a series of cuts totaling 1,000 basis points since June 2024.