Latest news with #UmmAl-Qura
India.com
30-06-2025
- Business
- India.com
Bad news for two Asian countries as Saudi Arabia imposes final anti-dumping duties on imports of..., not India, Pakistan
New Delhi: Dr. Majed Al-Qasabi, the Saudi Minister of Commerce and Chairman of the Board of Directors of the General Authority of Foreign Trade (GAFT), has issued an order to impose final anti-dumping duties on imports of longitudinally welded circular cross-section pipes of stainless steel, originating or exported from China and Taiwan. What does the decision say? The news about the decision to impose the final duties was published in Umm Al-Qura newspaper, the official gazette, on June 29. It further says that the final duties will be applied to imports of this product for a period of five years starting Monday, June 30, 2025. The minister also directed the Zakat, Tax, and Customs Authority to impose and collect final anti-dumping duties on the product in question at rates ranging from 6.5 percent to 27.3 percent, according to the table included in this decision that contains details of the duties. What is the aim of this decision? The decision to levy the final anti-dumping duties has come in agreement with the Law of Trade Remedies in International Trade, which aims to protect the local industry from unfair trade practices in the Saudi market. Moreover, this decision is based on the final results of an investigation that was initiated on May 2, 2024, following a complaint filed by the local industry, in accordance with the regulations of the Law of Trade Remedies in International Trade. The objective of the law is to protect the domestic industry from the damage caused by dumped and subsidized imports, prevent a surge in imports, and protect the Kingdom's exports that are subject to trade-remedy measures.
Saudi Gazette
29-06-2025
- Business
- Saudi Gazette
Saudi Arabia imposes final anti-dumping duties on imports of steel pipes from China and Taiwan
Saudi Gazette report RIYADH — Saudi Minister of Commerce and Chairman of the Board of Directors of the General Authority of Foreign Trade (GAFT) Dr. Majed Al-Qasabi issued a decision to impose final anti-dumping duties on imports of longitudinally welded circular cross-section pipes of stainless steel, originating or exported from China and Taiwan. The decision to impose the final duties was published in Umm Al-Qura newspaper, the official gazette, on June 29. The final duties will be applied to imports of this product for a period of five years starting June 30, 2025. The minister also directed the Zakat, Tax, and Customs Authority to impose and collect final anti-dumping duties on the product in question at rates ranging from 6.5 percent to 27.3 percent, according to the table included in this decision that contains details of the duties. The decision to impose the final anti-dumping duties comes in accordance with the Law of Trade Remedies in International Trade, which aims to protect the local industry from unfair trade practices in the Saudi market. This decision is based on the final results of an investigation that began on May 2, 2024, following a complaint filed by the local industry, in accordance with the regulations of the Law of Trade Remedies in International Trade. The objective of the law is to protect the domestic industry from the damage caused by dumped and subsidized imports, prevent a surge in imports, and protect the Kingdom's exports that are subject to trade-remedy measures.
Saudi Gazette
22-05-2025
- Business
- Saudi Gazette
GIB Capital closes deals in Q1 2025 with a total value exceeding several billion dollars
GIB Capital, the investment arm of Gulf International Bank, continues to strengthen its position in the investment services sector by achieving a number of accomplishments during the first quarter of 2025. Among these achievements, the company acted as financial advisor, institutional bookrunner, and joint underwriter for the IPO of Umm Al-Qura, with a total offering size of SR2 billion, which was oversubscribed 241 times. The company also served as joint lead manager and joint bookrunner in the $1.25 billion sukuk issuance for the Saudi Arabian Mining Company (Ma'aden), which was 8 times oversubscribed, receiving strong demand from international investors. As part of its expansion into global debt markets, GIB Capital managed a $1.75 billion sukuk issuance for the Islamic Development Bank (IsDB) as joint lead manager and joint bookrunner, with participation from a wide range of global investors. GIB Capital also acted as joint lead manager and joint bookrunner for a $1 billion sukuk issuance by the Bahrain Petroleum Company (Bapco), which attracted over $4 billion in orders. In another notable transaction, the company served as joint lead manager in the $2 billion sukuk issuance by the Saudi Real Estate Refinance Company (SRC), which was oversubscribed more than six times, with active participation from international transactions reflect GIB Capital's ability to efficiently execute complex financial operations and reaffirm its role as a key partner in the development of capital markets and in enhancing their appeal to both local and global investors.
Zawya
28-04-2025
- Business
- Zawya
Al-Failh approves executive regulations of Investment Law in Saudi Arabia
RIYADH — Saudi Minister of Investment Khalid Al-Falih has issued a decision approving the executive regulations of the Investment Law, which aim to implement the provisions of the Investment Law and achieve the goals and objectives stipulated therein, the Umm Al-Qura newspaper reported. The regulation, which includes 37 articles, stipulates that "the foreign investor has the right to express his opinion, and the Ministry shall provide him with the opportunity to submit information and documents relevant to the procedures in question." The Ministry shall hold discussions with the foreign investor to evaluate alternative measures to hedge against the risks of foreign investment on national security if it finds, in its assessment, that such measures are sufficient to mitigate the risks threatening national security. The Ministry may also suspend the procedures before a decision is issued if an agreement is reached with the investor that is sufficient to mitigate the risks of national security. As stated in the regulation. The regulation emphasized that several factors must be considered, including whether the treatment discriminates between investors or investments based on legitimate public policy objectives, or whether the goods or services produced or consumed by the investor are part of its production inputs, in addition to the sector concerned with the investment and the size of the targeted investment, as well as the impact of the investment on the local economy or environment. It pointed out the freedom to transfer funds without prejudice to any applicable rules, regulations and instructions. The investor has the right to freely transfer funds related to his investments to and from Saudi Arabia without delay. This includes the initial capital and additional amounts for maintaining or increasing the size of investments, all profits, capital gains, distributed dividends, royalties, fees and other current income and revenues, and amounts paid under a contract, including loan installments related to investments. Transfers include revenues generated from the liquidation or sale of all or part of an investment, and the earnings and salaries of contracted workers abroad who carry out activities related to investments, as stipulated in the regulations. The regulations permit delaying or refraining from transferring funds in accordance with fair and non-discriminatory legislation in force and in good faith, relating to the following: cases of bankruptcy, insolvency, or protection of creditors' rights; issuing, trading, or dealing in securities; criminal offenses or penalties; and compliance with orders or rulings issued in lawsuits.
Saudi Gazette
28-04-2025
- Business
- Saudi Gazette
Al-Failh approves executive regulations of Investment Law in Saudi Arabia
Saudi Gazette report RIYADH — Saudi Minister of Investment Khalid Al-Falih has issued a decision approving the executive regulations of the Investment Law, which aim to implement the provisions of the Investment Law and achieve the goals and objectives stipulated therein, the Umm Al-Qura newspaper reported. The regulation, which includes 37 articles, stipulates that "the foreign investor has the right to express his opinion, and the Ministry shall provide him with the opportunity to submit information and documents relevant to the procedures in question." The Ministry shall hold discussions with the foreign investor to evaluate alternative measures to hedge against the risks of foreign investment on national security if it finds, in its assessment, that such measures are sufficient to mitigate the risks threatening national security. The Ministry may also suspend the procedures before a decision is issued if an agreement is reached with the investor that is sufficient to mitigate the risks of national security. As stated in the regulation. The regulation emphasized that several factors must be considered, including whether the treatment discriminates between investors or investments based on legitimate public policy objectives, or whether the goods or services produced or consumed by the investor are part of its production inputs, in addition to the sector concerned with the investment and the size of the targeted investment, as well as the impact of the investment on the local economy or environment. It pointed out the freedom to transfer funds without prejudice to any applicable rules, regulations and instructions. The investor has the right to freely transfer funds related to his investments to and from Saudi Arabia without delay. This includes the initial capital and additional amounts for maintaining or increasing the size of investments, all profits, capital gains, distributed dividends, royalties, fees and other current income and revenues, and amounts paid under a contract, including loan installments related to investments. Transfers include revenues generated from the liquidation or sale of all or part of an investment, and the earnings and salaries of contracted workers abroad who carry out activities related to investments, as stipulated in the regulations. The regulations permit delaying or refraining from transferring funds in accordance with fair and non-discriminatory legislation in force and in good faith, relating to the following: cases of bankruptcy, insolvency, or protection of creditors' rights; issuing, trading, or dealing in securities; criminal offenses or penalties; and compliance with orders or rulings issued in lawsuits.
