News

The Kingdom of Saudi Arabia has signed $50 billion worth of contracts.

The Kingdom of Saudi Arabia has signed $50 billion worth of contracts at an investment conference in Riyadh on Tuesday 23/10/2018. The deals were signed in oil, gas, infrastructure, and other sectors at the Saudi international business forum dubbed the ‘Davos in the desert’. Companies involved in the deals include Total, Hyundai, Schlumberger, Baker Hughes, and […]

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IMF Chief; Christine Lagarde: Corruption hinders economic growth.

Marking World Anti-Corruption Day, International Monetary Fund (IMF) said on Friday that corruption disrupts economic growth by weakening the government’s ability to perform. “…IMF is to protect global economic stability and promote strong, sustainable, balanced, and inclusive economic growth. And this becomes difficult, if not impossible, to achieve in the presence of entrenched and institutionalised […]

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KSA legalizes international universities’ practice in the Kingdom.

According to Al-Iqtisadiya newspaper, A joint team between the Ministry of Education and the Ministry of Commerce and Investment has finished articulating the terms and conditions to grant licenses to international universities and entitling them to enter the Saudi market and invest therein. Dr. Ayed Al-Otaibi; the Deputy Governor of the Investment Authority for Investment […]

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Crown Prince Mohammad Bin Salman announces the launch of NEOM Project and supports it with more than $500,000,000,000 (Five Hundred Billion Dollars).

Crown Prince Mohammad Bin Salman has announced as of Tuesday 25/10/2017 the launch of “NEOM” project, located on an area equal to 26,500 km² at the southwest of the Kingdom of Saudi Arabia. The Crown Prince has acknowledged during the launch that NEOM area will focus on nine investment specific sectors, targeting the future of […]

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International Engineering Companies to operate in Saudi with 100% ownership.

According to SAGIA, Eng. Ibrahim Al Omar, Governor of the Saudi Arabian General Investment Authority (SAGIA) extended his deep thanks and gratitude to the Custodian of the Two Holy Mosques His Majesty King Salman Bin Abdulaziz Al Saud and HRH Crown Prince Mohammed Bin Salman for the Cabinet’s decision to grant foreign companies full ownership […]

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Saudi Arabia publishes Value Added Tax (VAT) Law on its official gazette.

Saudi Arabia has approved the final KSA VAT Law and published it on its official gazette “Um Al Qura” in its edition 4681, dated as of 28/July/2017. The law consists of 53 articles after being initially drafted in 77 articles. It is worth mentioning that the aforementioned law’s date of effect commences on 01/January/2018.

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Al-Soaib & Partners Law Firm earns an award by Lexis Nexis Middle East.

Al-Soaib & Partners Law Firm has participated to the ceremony held by Lexis Nexis Middle East in the Four Seasons Hotel, DIFC, Dubai, on the background of its recently issued programme “Gulf Legal Advisor”, where Al-Soaib & Partners Law Firm has won the award of “Inaugural Contributor” for the legal practice notes we have written […]

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