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Press Dossier

By Date

07/09/2023

	Saudi court jails Pakistani fraudsters for 7 years A Saudi court has jailed 11 Pakistani nationals, each for seven years, after they were convicted of fraud in the Kingdom.
	Saudi Arabia’s economic and fiscal position strong due to Vision 2030: IMF Saudi Arabia’s fiscal prospects are solid in the near term, primarily driven by Vision 2030 which has been steadily diversifying the Kingdom’s economy since its launch in 2016, according to the International Monetary Fund.
	Saudi Arabia to become a top global construction hub thanks to $1.25tn investment: Knight Frank Saudi Arabia is set to become one of the world’s largest construction hubs thanks to more than $1.25 trillion of infrastructure and real estate projects in the pipeline, according to real estate consultancy firm Knight Frank.
	Global sukuk issuance set to fall in 2023: Moody’s Global sukuk issuances are expected to decline in 2023 to come in between $150 billion and $160 billion, from $178 billion in 2022, driven by improving fiscal positions of sovereign issuers in the Gulf Cooperation Council region and Southeast Asia, according to Moody’s Investors Service.
	Abu Dhabi Exports Office signs $100m deal with Egyptian bank to boost UAE exports In a move aimed at reinforcing economic and trade relations between the UAE and Egypt, Abu Dhabi Exports Office, the export-financing arm of Abu Dhabi Fund for Development, has signed a pivotal financing agreement with the National Bank of Egypt.
	ADCB issues $650m green bond to support UAE’s net-zero economy In a significant step to support the UAE’s net-zero goal, Abu Dhabi Commercial Bank said it has successfully priced a $650 million green bond, with the proceeds designated for financing eligible sustainable assets.
	Saudi Aramco hikes October Arab light crude prices to Asia Saudi Aramco raised the October official selling prices for the flagship Arab light crude it sells to Asia to plus $3.60 a barrel versus the Oman/Dubai average, the oil company announced on Wednesday.
	Finmin: VAT, public debt law not a priority for govt Minister of Finance Fahad Al-Jarallah said the ministry is in the process of studying solutions and options to overcome the liquidity crisis that the government may face by proposing proactive solutions to avoid any disruption in cash flows.

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SAUDI LAWS

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