
Standard Chartered: Weak Dollar to Unlock Opportunities in Emerging Markets and Global Equities
Alternative investments are also in focus, with the Bank highlighting gold as a core allocation, supported by strong central bank demand and its role as a diversifier when bonds offer less downside protection.
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Gulf Insider
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Saudi Arabia Publishes New Law Allowing Foreigners To Own Property
Saudi Arabia has officially published the full details of its new law regulating real estate ownership by non-Saudis, following Cabinet approval earlier this month. The comprehensive law, released in the official gazette Umm Al-Qura on Friday, will take effect 180 days from publication and marks a major overhaul in the Kingdom's approach to foreign ownership of property. The new system grants non-Saudis — including individuals, companies, and non-profit entities — the right to own property or obtain other real rights over real estate within designated geographic zones to be determined by the Cabinet. These rights include usufruct (beneficial use), leaseholds, and other real estate interests, but will be subject to a range of controls and restrictions based on location, property type, and usage. The law preserves all real estate rights that were legally established for non-Saudis prior to the new regulation taking effect. However, it clearly states that ownership remains prohibited in certain locations and regions, notably in Makkah and Madinah, except under conditions for individual Muslim owners. A key provision in the law requires the Council of Ministers — upon a proposal by the Real Estate General Authority and with the approval of the Council of Economic and Development Affairs — to define the allowable zones for foreign ownership and set upper limits on ownership percentages and durations for usufruct rights. Foreign individuals legally residing in Saudi Arabia may own one residential property outside restricted areas for personal housing purposes. This does not apply to Makkah and Madinah. The regulation also includes provisions for corporate ownership. Non-listed companies with foreign shareholders, as well as investment funds and licensed special-purpose entities, will be permitted to acquire real estate throughout the Kingdom, including in Makkah and Madinah, provided the ownership supports operational needs or employee housing. Listed companies and investment vehicles may also acquire property in line with Saudi financial market regulations. Diplomatic missions and international organizations can also own premises for official use and residence of their representatives, subject to Foreign Ministry approval and reciprocity conditions. To ensure compliance, non-Saudi entities must register with the competent authority before acquiring property. Ownership or real rights become valid only after formal registration in the national real estate registry. The law introduces a real estate transfer fee of up to 5% for transactions involving non-Saudis, and outlines a penalty framework for violations. Sanctions include fines up to SR10 million and, in severe cases such as falsified information, the forced sale of the property with proceeds remitted to the state after deductions. A dedicated committee under the Real Estate General Authority will be formed to investigate violations and impose penalties. Decisions of this committee can be appealed to the administrative courts within 60 days. Additionally, the law repeals a prior rule that prohibited GCC citizens from owning property in Makkah and Madinah, effectively standardizing rules for all non-Saudi entities under a single framework. The executive regulations, which will detail implementation mechanisms and specify geographic boundaries and conditions, are expected to be issued within six months. The new law replaces the previous foreign property ownership legislation issued under Royal Decree No. M/15 in 2000.


Daily Tribune
2 days ago
- Daily Tribune
Coca-Cola plans US cane sugar alternative after Trump push
Coca-Cola on Tuesday said it would release a version of Coke in the United States made with US-grown real cane sugar, a move requested by President Donald Trump. 'We're going to be bringing a Coke sweetened with US cane sugar into the market this fall, and I think that will be an enduring option for consumers,' said CEO James Quincey on a call with analysts. The company currently uses high-fructose corn syrup (HFCS) for many of its US products -- a sweetener that has long drawn criticism from Health Secretary Robert F. Kennedy Jr. and his 'Make America Healthy Again' agenda. Trump last week said that the company had agreed to use cane sugar in the United States version of Coke. 'This will be a very good move by them -- You'll see. It's just better!' Trump wrote on Truth Social. Coca-Cola at the time did not confirm the move even if it said it appreciated Trump's 'enthusiasm' for its brand. In announcing the new option, Quincey insisted that the main Coke product would still be made with corn syrup, with the cane sugar version offered as an alternative. Mexican Coke -- which is made with cane sugar -- is often sold at a premium in US stores and prized for its more 'natural' flavor. The US president did not explain what motivated his push for the change.


Daily Tribune
2 days ago
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Japan Clarifies: No Defense Spending in New US Trade Deal
TDT | Manama Japan's top trade negotiator has clarified that the new trade agreement between Japan and the United States does not include any provisions related to defense spending or tariffs on steel and aluminum. Speaking to reporters in Washington on Wednesday, Ryosei Akazawa, Japan's envoy on tariffs, confirmed, 'The deal does not include anything on defense spending,' putting to rest speculation that military budgets might be part of the broader agreement. This follows earlier calls by U.S. President Donald Trump urging Japan to boost its defense spending. Akazawa also confirmed that US-imposed tariffs of 50 percent on Japanese steel and aluminum remain unchanged and were not addressed in the newly agreed trade deal. 'If you are asking whether the deal includes steel and aluminium, it does not,' he stated. Despite the exclusions, the announcement of the trade pact brought a boost to investor confidence. Japan's stock market surged in response, with the Nikkei 225 index jumping 3.18% to close at 41,040.66 yen. The broader Topix index also rose by 3.11%, finishing at 2,924.42 yen — gains led primarily by automotive stocks as the deal includes tariff reductions on vehicles and car parts. The agreement marks a step forward in trade relations between the two nations, focusing on economic cooperation without touching on more contentious defense or industrial issues.