Saudi Arabia Launches Customs Exemption and Business-Friendly Laws to Bolster Industrial Sector
Saudi Arabia Launches Customs Exemption to Revitalize Industrial Sector; Europe Faces Severe Floods and Wildfires
Saudi Arabia's Ministry of Industry and Mineral Resources has introduced a new customs exemption service to enhance the competitiveness of its industrial sector by removing duties on raw materials used in experimental production. This initiative, available via the Senaei platform, supports facilities with manufacturing licenses still in the construction phase and aims to boost industrialization, targeting 36,000 plants by 2035.
Alongside this, Saudi Arabia has also unveiled new laws to boost business growth, achieving a remarkable 59% surge in commercial registrations. These regulations, announced during a Cabinet session in Riyadh chaired by Crown Prince Mohammed bin Salman, aim to simplify procedures and protect trade names in alignment with Vision 2030.
Meanwhile, controversy has struck Taiwan, as pager manufacturer Gold Apollo is under investigation after its brand appeared on pagers linked to deadly explosions in Lebanon. Founder Hsu Ching-Kuang has denied involvement, explaining that the trademark was licensed to Hungary's BAC Consulting, which he suspects is behind the devices.
Shifting gears to the political arena, former President Donald Trump has resumed his campaign in Michigan, proposing a hefty 200% tariff on Mexican cars to revive the auto industry. Trump also criticized United Auto Workers union president Shawn Fain for supporting President Biden’s transition to electric vehicles.
In legal news, hip-hop mogul Sean "Diddy" Combs has been denied bail on serious charges including sex trafficking and racketeering. A New York federal judge has remanded him in custody as prosecutors allege he has been running a criminal enterprise since 2008, exploiting women using drugs and violence.
Lastly, Europe is battling dual disasters with deadly floods in Poland and wildfires in Portugal. In Poland’s city of Nysa, 44,000 residents were evacuated due to rising river levels, while wildfires in Portugal have tragically resulted in seven deaths, including three firefighters, as emergency services work tirelessly across the continent.
Alongside this, Saudi Arabia has also unveiled new laws to boost business growth, achieving a remarkable 59% surge in commercial registrations. These regulations, announced during a Cabinet session in Riyadh chaired by Crown Prince Mohammed bin Salman, aim to simplify procedures and protect trade names in alignment with Vision 2030.
Meanwhile, controversy has struck Taiwan, as pager manufacturer Gold Apollo is under investigation after its brand appeared on pagers linked to deadly explosions in Lebanon. Founder Hsu Ching-Kuang has denied involvement, explaining that the trademark was licensed to Hungary's BAC Consulting, which he suspects is behind the devices.
Shifting gears to the political arena, former President Donald Trump has resumed his campaign in Michigan, proposing a hefty 200% tariff on Mexican cars to revive the auto industry. Trump also criticized United Auto Workers union president Shawn Fain for supporting President Biden’s transition to electric vehicles.
In legal news, hip-hop mogul Sean "Diddy" Combs has been denied bail on serious charges including sex trafficking and racketeering. A New York federal judge has remanded him in custody as prosecutors allege he has been running a criminal enterprise since 2008, exploiting women using drugs and violence.
Lastly, Europe is battling dual disasters with deadly floods in Poland and wildfires in Portugal. In Poland’s city of Nysa, 44,000 residents were evacuated due to rising river levels, while wildfires in Portugal have tragically resulted in seven deaths, including three firefighters, as emergency services work tirelessly across the continent.
