Saudis could get $21 billion non-oil boost in 2018, BofA Says
Businessam Staff
August 22, 2017
Saudi Arabia’s non-oil revenue could surge by about 80 billion riyals ($21.3 billion) next year, according to Bank of America Merrill Lynch, boosting the kingdom’s efforts to reduce the economy’s reliance on crude. The increase would be driven by the implementation of value-added taxation, a tax on luxury products and higher fees imposed on expatriates’ […]
Saudi Arabia shrinks Q2 budget deficit as revenue rises 6%
Businessam StaffAugust 13, 2017
Saudi Arabia’s state budget deficit shrank by a fifth from a year earlier in the second quarter of this year as revenues rose moderately and spending fell marginally, finance ministry figures showed on Sunday. Revenues increased six percent from a year ago to 163.9 billion riyals ($43.7 billion); oil revenues jumped 28 percent to 101.0 […]
Goldman, JPMorgan, HSBC in competition as UAE’s ADNOC plans retail unit sale
Businessam StaffJuly 12, 2017
Goldman Sachs, JPMorgan HSBC are in hot competition in the Middle East state of Abu Dhabi to play a lead role as the country’s national oil company weighs proposals from them in the listing of its retail business, according to sources, the news agency Reuters reported Wednesday. Rothschild is in a strong position for an […]