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☆ Saudi Arabia offers tax breaks for companies moving regional HQs to Riyadh
▼ + stars: | 2023-12-05 | by ( ) www.reuters.com time to read: +2 min

Saudi Minister of Finance Mohammed Bin Abdullah Al-Jadaan attends the G20 Finance Ministers and Central Bank Governors Meeting in Nusa Dua, Bali, Indonesia, 15 July 2022. The programme has so far attracted 200 foreign companies, Saudi Investment minister Khaled Al-Falih was quoted as saying. "The new tax exemptions granted on regional headquarters activities will give .... international companies in the kingdom more clarity of vision and stability," Saudi Finance Minister Mohammed Al-Jadaan said, according to SPA. Foreign companies have scrambled to meet the Saudi condition to relocate their regional headquarters after the kingdom said in October the deadline will be enforced. Foreign firms have for years used neighbouring United Arab Emirates as a springboard for their regional operations, including for Saudi Arabia.

Persons: Finance Mohammed Bin Abdullah Al, Jadaan, Jan, Prince Mohammed bin Salman, Khaled Al, Falih, Mohammed Al, ” Jadaan, Aziz El, Bill Berkrot Organizations: Finance, Ministers, Central Bank Governors, Rights, United, United Arab Emirates, International, Saudi Investment, Saudi Finance, Games, , Thomson Locations: Saudi, Nusa Dua, Bali, Indonesia, Rights RIYADH, Saudi Arabia, United Arab, United Arab Emirates

☆ Saudi Arabia deposits $5 bln in Turkey's central bank - statement
▼ + stars: | 2023-03-06 | by ( ) www.reuters.com time to read: +1 min

DUBAI, March 6 (Reuters) - Saudi Arabia has signed an agreement with Turkey to deposit $5 billion in the country's central bank through the Saudi Fund for Development (SFD), the fund said on Monday. Saudi Minister of Finance Mohammed Bin Abdullah Al-Jadaan announced his country's intention to make the deposit in December. The Turkish central bank's net international reserves fell some $1.4 billion to $20.2 billion in the week to Feb. 24, data from the bank showed on Thursday. The Saudi deposit follows joint efforts by Ankara and Riyadh to mend ties that were ruptured after the murder of Saudi journalist Jamal Khashoggi in 2018 at the kingdom's consulate in Istanbul. The deposit was signed between SFD Chairman Ahmed Aqeel Al-Khateeb, who is also Saudi Arabia's tourism minister, and Turkish Central Bank Governor Sahap Kavcioglu, the SFD statement said.

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