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FINANCIAL NEWS
Saudi Arabia’s shift from oil takes shape
26 Feb 2016
(MENAFN) GCC equity markets saw a sell-off as crude oil prices continued to decline, thus top economists are advising that investors must focus on companies that are not overly reliant on hydrocarbons.
In accordance, the previous 12 months have presented Saudi Arabia with a great opportunity to strengthen its economic fundamentals while spurring a move toward greater diversification.
The recent budget announcement for this year by KSA signal that it’s scaling back non-essential spending, but are continuing to invest significantly in infrastructure, education, and social programs.
Moreover, the kingdom recently revealed that it would implement a value-based tax on undeveloped lands, in order to increase revenues and discourage landowners from holding vacant plots.
More News
02 Jul 2025
BBK launches the largest-ever Al Hayrat Prizes, offering BD 5 million to over 2,000 winners
12 May 2025
Alsharifi: “Proud of our strategic partnership with the Royal Humanitarian Foundation”
04 May 2025
BBK offers exclusive Mortgage Loans for luxury villas and apartments on Reef Island
30 Apr 2025
BBK discloses its financial results for the first quarter ended 31st March 2025
25 Mar 2025
BBK’s General Assembly Approves 35% Cash Dividend Distribution to Shareholders
12 Mar 2025
Mr. Yaser Alsharifi completes Harvard Business School Presidents’ Program in Leadership
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