By Innovation-sa on January 2, 2020 in News

In line with the objectives of Kingdom’s Vision 2030 to enhance the quality of life in cities by providing commodities and services to residents 24/7, Saudi Arabia’s Ministry of Municipal Affairs in collaboration with the Ministry of Interior will now allow commercial activities to function round the clock. Starting from today, businesses that obtain a […]

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By Innovation-sa on December 15, 2019 in News

Saudi Arabia announced SR1.02 trillion budget for 2020 with plans to gradually reduce government spending as private sector growth picks up and Crown Prince Muhammed bin Salman’s vision of the oil-independent economy shows signs of progress.   The annual budget released by the Saudi government this week forecasts a revenue of SR833 billion in 2020, […]

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By Innovation-sa on December 4, 2019 in News

Saudi Arabia’s General Entertainment Authority (GEA) revealed that over 8.4 million people have visited the Riyadh Season festival within a month-and-a-half. Riyadh Season will continue to provide entertainment to citizens in and around the capital city until late-January across all twelve designated locations.   The season, which was initially scheduled to wrap up on December […]

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By Innovation-sa on November 26, 2019 in News

In a ground-breaking celebratory event filled with historical reenactments, Ardah dance, displays of traditional culture and fireworks, Custodian of the two holy mosques King Salman laid the foundation stone to mark the launch of the $17 billion Diriyah Gate project around the UNESCO world heritge site at Diriyah.   As the Kingdom continues its transformation […]

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By Innovation-sa on November 17, 2019 in News

Saudi Arabia’s General Authority of Zakat and Tax (GAZT) has revealed that the new zakat regulations amended by ministerial decree will only be applicable to Saudi and Gulf investors residing in the Kingdom and not to individuals. GAZT confirmed that it would apply the income tax on foreign companies and entities only.   The amended regulations, which are to be […]

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By Innovation-sa on November 10, 2019 in News

Saudi Arabia’s oil giant, Saudi Aramco kicked off an oft-delayed domestic initial public offering (IPO) on Sunday, revealing potential tax cuts and dividends to lure investors. With an annual net income of $111 billion in 2018, the world’s most profitable firm has announced plans to sell 1 billion shares to private investors – Saudi nationals, qualifying resident expatriates, […]

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By Innovation-sa on November 4, 2019 in News

Saudi Arabia’s Future Investment Initiative (FII) forum in Riyadh closed with $20 billion worth deals signed and a commitment that Saudi Arabia would address the issues of social empowerment and sustainability when it hosts the G20 gathering of heads of state in 2020.   As the Arab world’s biggest economy continues to further open up to foreign investments […]

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By Innovation-sa on October 28, 2019 in News

Saudi Arabia’s Public Investment Fund (PIF) announced that dozens of global policymakers and tycoons will attend the third edition of annual Future Investment Initiative (FII). The three-day event to be held in Riyadh from October 29th to 31st  announced 49 partners who are playing a key role in the development and delivery of this year’s […]

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By Innovation-sa on October 17, 2019 in News

Saudi Arabia’s capital city kicked off its festival season with style and glamour as the global K-pop sensation BTS performed in front of an avid crowd at the King Fahd International Stadium on Friday.   The septet’s concert was part of their record-breaking BTS World Tour “Love Yourself: Speak Yourself”,which gained over $50 million in […]

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By Innovation-sa on October 8, 2019 in News

Saudi Arabia announces new regulations for female dress code as the country is looking forward to welcome tourists from across the globe to experience the Kingdom’s rich culture and tradition. Foreign women travelling to Saudi Arabia will no longer have to wear abaya, the flowing cloak that has been a mandatory dress code for decades. […]

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