Saudi Arabia Seeks Up to $8 Billion Loan

[That Guy]

VAT was supposed to implemented simultaneously across the GCC. The UAE announced 1st Jan 2018. But as per my conversation with @Indus Falcon & his boss, there is no final confirmation.. So if the UAE postpones it, so could other GCC members.

On the other hand the 5% VAT might go down, which could present a different scenario all together.

As to the Saudi issue, you are right, it's not about money, but socio-economic development.

Besides Oil they have other mineral wealth they can bank on and postpone taxes at the cost of giving haters heartburn

Mineral Resources - SAMIRAD (Saudi Arabia Market Information Resource)

A Kingdom of riches: Saudi Arabia looks to strike it rich with mining sector - Mining Technology

Saudi Arabia's new gold: The shiny kind - Aug. 12, 2008


You have no valid points only your silly baseless "opinions" which in the real world carry "zero" weight.

Keep it up. I'm done talking to a nobody.

You know, myself and @volatile have similar points, yet you agree with him and disagree with me. I'm beginning to think that you just wanna fight me.

But go ahead, pretend like you know what you're talking about.

 

[Maarkhoor]

@Khafee
Peoples are delusional KSA can give USD 8 billion as a fitra .... cheap fake news article ... my cousine working in KSA ARAMCO senior position laugh it out on this...

 

[Khafee]

You know, myself and @volatile have similar points, yet you agree with him and disagree with me. I'm beginning to think that you just wanna fight me.

But go ahead, pretend like you know what you're talking about.

@volatile was civil, polite and humble. Raised valid points. You on the other hand just want to prove you know everything, while being clueless. You can think what ever you like about me, doesn't matter one bit.

In case you get your heads out of the clouds, and actually want to learn something, you can start with a sorry.

 

[That Guy]

@volatile was civil, polite and humble. Raised valid points. You on the other hand just want to prove you know everything, while being clueless. You can think what ever you like about me, doesn't matter one bit.

In case you get your heads out of the clouds, and actually want to learn something, you can start with a sorry.

I was being civil and polite, I have nothing to be sorry for.

YOU on the other hand, need to apologize for constantly insulting me, even when I've tried to be polite. When you called me a sheep, or calling me clueless, saying I don't understand, that was you being super polite, right?

My points were similar to his, I simply happened to go into more detail.

@Khafee
Peoples are delusional KSA can give USD 8 billion as a fitra .... cheap fake news article ... my cousine working in KSA ARAMCO senior position laugh it out on this...

Multiple sources reporting this, I doubt it's fake...

Saudi Arabia Seeks to Raise up to $8 Billion Loan - NASDAQ.com

Exclusive: Saudi Arabia seeks $6-8 billion bank loan to shore up state coffers| Reuters

Saudi Arabia Seeks Up to $8 Billion Loan - WSJ

Saudi Arabia is looking for $6-8 billion in bank loans to keep its public finances afloat | Business News | News | The Independent

Saudi Arabia Wants To Borrow Up To $8 Billion To Close Budget Gap Amid Oil Glut That’s Battering Riyadh’s Finances

I doubt your cousin is laughing at this.

 

[Khafee]

@Khafee
Peoples are delusional KSA can give USD 8 billion as a fitra .... cheap fake news article ... my cousine working in KSA ARAMCO senior position laugh it out on this...

Every other week, or twice a week, you'll find some ludicrous news like this. Simply because people have their own twisted agendas. And then you'll find the clueless haters on PDF going nuts, making a fool of themselves. Plenty of examples on this thread it self.

 

[volatile]

VAT was supposed to implemented simultaneously across the GCC. The UAE announced 1st Jan 2018. But as per my conversation with @Indus Falcon & his boss, there is no final confirmation.. So if the UAE postpones it, so could other GCC members.

On the other hand the 5% VAT might go down, which could present a different scenario altogether.

As to the Saudi issue, you are right, it's not about money, but socio-economic development.

Besides Oil they have other mineral wealth they can bank on and postpone taxes at the cost of giving haters heartburn

Hmm yes there is a confusion but lemme tell you one thing which is confirmed VAT will not be implemented simultaneously across GCC ,As it will be wait and see game ,UAE will do it more quickly as necessary systems are placed and people are some how now Immune to price Hikes in UAE but for KSA it will be a bitter and tough experience ,I really dont want to express more but seeing price increase in Petrol have raised certain problems already with VAT there will be great deal of repression .Just imagine if we had 5% increase in Umrah or for rentals or for daily commodities i dont know but seems to be people are not ready ,remember always the first steps are more difficult UAE did that in last 10 years so lets see and hope for the best .There is a way of narrowing the gap which is massive industrialization and i am happy that KSA is doing now ,With only car Imports of over 5 Billion US $ one can imagine how much money is poured out which could be saved ,My advice is

1. Start Manufacturing cars/Trucks all here infact for all of GCC .
2. Military complexes (which they are doing now good initiative)
3. I dont know about this but centre of research for Petroleum products (You can hire always the best brain)
4. At the moment too much of daily things are coming from outside kingdom they should develop these here .

These three steps can be done very quickly ,Rest they have far more experienced experts then Im or any one else but just a thought .