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Sweetened beverages are defined as any products containing added sources of sugar, artificial sweeteners, or other sweetening agents produced for consumption as drinks.
Imposition of selective tax on sweetened beverages by Gulf states to be based on total sugar content
Saudi Gazette reportRIYADH — The Financial and Economic Cooperation Committee of the Gulf Cooperation Council (GCC) has decided to revise the methodology for calculating selective tax on sweetened beverages. The revised tax will come into force in Saudi Arabia from 1 January 2026.Under the new tiered volumetric approach, the tax will be assessed according to graded bands determined by the total amount of sugar per 100 milliliters of ready-to-drink sweetened beverages falling within each bracket. This replaces the current flat-rate system, which imposes a fixed 50 percent selective tax on the retail price of sweetened beverages subject to the tax.In line with this decision, the Zakat, Tax and Customs Authority (ZATCA) published proposed amendments to the Implementing Regulations of Excise...
October 09, 2025

Imposition of selective tax on sweetened beverages by Gulf states to be based on total sugar content

According to the General Authority for Statistics report, the index for oil activities rose 8.3 percent year-on-year, while non-oil activities rose 4.4 percent.
Saudi industrial production rises 7.1% in August
Saudi Gazette reportRIYADH — Saudi Arabia’s industrial production general index recorded an increase of 7.1 percent in August 2025 compared to the same period last year. This was driven by growth in mining and quarrying, manufacturing, and electricity and water supply sectors, according to a report issued by the General Authority for Statistics (GASTAT).The index rose 1.4 percent month-on-month compared to the previous month of July, reflecting the continued improvement in the pace of industrial production in the Kingdom, amid expansion in both oil and non-oil-related activities.According to the report, the index for oil activities rose 8.3 percent year-on-year, while non-oil activities rose 4.4 percent. Oil activities increased 1.7 percent and non-oil activities increased 0.7 percent...
October 09, 2025

Saudi industrial production rises 7.1% in August

Saudi Arabia welcomes Gaza agreement, praises Trump’s peace initiative
Saudi Gazette reportRIYADH — Saudi Arabia welcomed the agreement reached on Gaza and the start of implementing the first phase of US President Donald Trump’s proposal aimed at ending the war in the besieged enclave and paving the way for a comprehensive and just peace.In a statement on Thursday, the Saudi Ministry of Foreign Affairs praised the active role of President Trump and the mediation efforts of Qatar, Egypt, and Türkiye that led to the deal.The Kingdom expressed hope that this step will lead to urgent action to alleviate the humanitarian suffering of the Palestinian people in Gaza, ensure a complete Israeli withdrawal, and help restore security and stability.It also emphasized the importance of taking practical steps toward achieving a just and comprehensive peace based on...
October 09, 2025

Saudi Arabia welcomes Gaza agreement, praises Trump’s peace initiative

The Ministry of Municipalities and Housing clarified that fines may reach up to SR2 million for some serious violations, and up to SR1 million for other violations.
Updated rules for municipal violation penalties stipulate maximum fine of SR2 million for serious violations
Saudi Gazette report RIYADH — The Ministry of Municipalities and Housing has approved the updated executive rules for the regulation of municipal violations penalties. The ministry emphasized that the updated rules classify violations into serious and non-serious, specifying appropriate penalties for each, including financial fines, temporary closure, and license revocation. It also adopts an automatic escalation of penalties for recurrence.The ministry clarified that fines may reach up to SR2 million for some serious violations, and up to SR1 million for other violations. These fines are calculated based on the type of violation, the classification of the municipality, and the size of the erring facility. Perpetrators of minor violations will be granted a grace period to correct the...
October 08, 2025

Updated rules for municipal violation penalties stipulate maximum fine of SR2 million for serious violations

Minister of Communications and Information Technology Abdullah Alswaha attending the 29th meeting of the GCC Ministerial Committee for Post and Telecommunications in Riyadh on Wednesday.
Alswaha: Gulf economy accounts for half of Arab world’s economy
Saudi Gazette report RIYADH — Minister of Communications and Information Technology Abdullah Alswaha affirmed that the Gulf Cooperation Council (GCC) member states have a golden opportunity to enhance digital integration and partnerships in the field of artificial intelligence. “This builds on four decades of joint Gulf action, which has established a distinct model of cooperation and development, contributing to regional stability and prosperity,” he said while speaking at the 29th meeting of the GCC Ministerial Committee for Post and Telecommunications.Alswaha highlighted that the Gulf economy has more than quadrupled over the past decades, reaching approximately $2.3 trillion. He pointed out that GCC countries now account for 2% of the global economy and half of the Arab world’s...
October 08, 2025

Alswaha: Gulf economy accounts for half of Arab world’s economy

The Saudi Central Bank recently announced the approval of using the Visitor ID for opening bank accounts in accordance with banks' account opening rules.
Interior Ministry’s approval is required to open bank accounts for expatriates with Saudi passports
Saudi Gazette reportJEDDAH — The Saudi Central Bank (SAMA) has instructed the local banks that they are required to open bank accounts for expatriates, who are holders of Saudi passports, only after obtaining the approval of the Ministry of Interior through the Central Bank.With regard to adding a visitor's ID document for opening an account, the updated bank account rules stipulate that all banks are required to create an electronic record for non-Saudi resident natural persons. This record should include at least the following information: The full name as written in the passport, residency permit (iqama), or visitor's identity document, in order of language priorities (Arabic, English, or Latin). If the name is in a language or alphabet other than those mentioned, the name...
October 08, 2025

Interior Ministry’s approval is required to open bank accounts for expatriates with Saudi passports

Saudi Oversight and Anti-Corruption Authority President Mazin Al-Kahmous speaks at the annual meeting of the Asset Recovery Inter-Agency Network in the Middle East and North Africa (MENA-ARIN) in Jeddah on Wednesday.
UNODC chief hails pioneering Saudi role in combating corruption and economic crimes
Saudi Gazette report JEDDAH — United Nations Office on Drugs and Crime (UNODC) Executive Director Ghada Waly praised the pioneering role of Saudi Arabia and the Oversight and Anti-Corruption Authority (Nazaha) in combating corruption and economic crimes at the regional and international levels. Addressing the first annual general meeting of the Asset Recovery Inter-Agency Network in the Middle East and North Africa (MENA-ARIN) in Jeddah on Wednesday, she said that Saudi Arabia's hosting of the permanent secretariat of the network confirms its global standing in this field.Nazaha President Mazin Al-Kahmous chaired the opening session of the meeting. In his speech, the Nazaha chief emphasized that the launch of the MENA-ARIN represents a practical step towards building an advanced...
October 08, 2025

UNODC chief hails pioneering Saudi role in combating corruption and economic crimes

King Salman awarded Omar Yaghi the King Faisal International Prize for Chemistry in 2015 in recognition of his pioneering work.
Who is Omar Yaghi, the scientist who won the 2025 Nobel Prize in Chemistry?
Saudi Gazette reportRIYADH — The Saudi chemist Omar Yaghi has been named one of the three laureates of the 2025 Nobel Prize in Chemistry, recognized by the Royal Swedish Academy of Sciences for his pioneering development of metal-organic frameworks (MOFs), molecular structures that can capture, store, and release gases.Here’s what to know about the Nobel-winning scientist, his background, and his global impact.What did Omar Yaghi win the Nobel Prize for? The Nobel Committee honored Yaghi — along with Japan’s Susumu Kitagawa and Australia’s Richard Robson — for developing metal-organic frameworks, also known as MOFs.These porous crystalline materials have revolutionized chemistry and materials science, with applications in carbon capture, hydrogen storage, clean energy, and...
October 08, 2025

Who is Omar Yaghi, the scientist who won the 2025 Nobel Prize in Chemistry?

Emir of Madinah Prince Salman bin Sultan receives Minister of Hajj and Umrah Dr. Tawfiq Al-Rabiah at his office in Madinah on Wednesday.
Madinah emir emphasizes keenness on quality services for pilgrims during meeting with Hajj minister
Saudi Gazette reportMADINAH — Emir of Madinah Prince Salman bin Sultan received Minister of Hajj and Umrah Dr. Tawfiq Al-Rabiah at his office in the emirate in Madinah on Wednesday.During the meeting, they reviewed the efforts implemented by the Hajj and Umrah System to serve the guests of God in Madinah and enhance the level of services provided at sites associated with their visit, in line with the goals of the Kingdom's Vision 2030.Prince Salman commended the efforts made by the Ministry of Hajj and Umrah, which contribute to raising the quality of services provided to the Hajj and Umrah pilgrims and visitors. He emphasized the emirate’s keenness to support the ministry's efforts and integrate roles with relevant authorities, in order to achieve the aspirations of the wise...
October 08, 2025

Madinah emir emphasizes keenness on quality services for pilgrims during meeting with Hajj minister

Moody’s warned of the rapid expansion of the Saudi lending and the insurance sector, which could pose challenges for managing banks and insurance companies.
Moody's: Saudi Arabia to maintain maximum annual non-oil growth of 5.5% amid lending challenges
Saudi Gazette reportRIYADH — Saudi Arabia is on track to maintain a non-oil sector growth rate ranging between 4.5 percent and 5.5 percent annually over the next five to ten years, according to a report of the Moody’s credit rating agency.At the same time, Moody’s warned of the rapid expansion of lending and the insurance sector, which could pose challenges for managing banks and insurance companies. The agency expects the government to continue spending related to Vision 2030 projects, with government debt likely to rise to approximately 36 percent of GDP, compared to approximately 26 percent by the end of 2024.Moody's noted that while the Public Investment Fund played a key role in the initial phases through massive investments, a gradual shift toward increased private sector...
October 08, 2025

Moody's: Saudi Arabia to maintain maximum annual non-oil growth of 5.5% amid lending challenges

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