Saudi Arabia, the world’s biggest oil exporter, has emerged as the top reformer in the Arabian Gulf region, according to the World Bank’s latest Ease of Doing business report.
The kingdom headed the bank’s regional table by carrying out six measures, while the UAE came second with four reforms and rose up the ranks to 21st spot in this year’s Ease of Doing Business ranking from 26th in the previous year out of a total 190 countries.
Such a performance from Saudi Arabia is commendable – given the difficult transition the kingdom is undergoing to reduce its reliance on hydrocarbons as the main source of income.
As the country embarks on implementing Vision 2030 – the economic programme aimed at curbing dependence on income from oil and gas – it will need more such performances to cement the success of its policies.
The reforms that earned the top Arab economy its ranking include improving the efficiency of the land administration system to streamline the property registration process. Now it takes only one-and-a- half days to transfer property in the kingdom, compared with an average of 22 days in OECD high-income economies.
The kingdom also bolstered minority investors’ protection by increasing shareholder rights, among other measures, helping it to rise in this category to No 10 globally.
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Read more:
Saudi Arabia top reformer in the GCC last year, World Bank says
World Bank lowers growth forecast for Arabian Gulf on oil cut adherence
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Such reforms are good news to investors keen to enter Saudi Arabia and its equity market as the country continues to ease restrictions on foreign money.
As the kingdom prepares to list a 5 per cent stake in Saudi Aramco, the world’s biggest oil producer, any reforms in connection
with the rights of investors will be music to their ears.
Saudi Arabia also made it easier to pay taxes by improving its online platform for filing and paying levies, another measure that is vital as the kingdom prepares to introduce a 5 per cent value-added tax on January 1.
The kingdom also improved trading across borders by reducing the time for documentary compliance for exports and imports and it also made enforcement of contracts easier by introducing an electronic case-management system for the use of judges and lawyers.
Saudi Arabia has also advanced two notches to rank globally at No 92 out of 190 countries in this year’s ease of doing business ranking, partly thanks to the recent reforms.
Most F1 world titles
7 — Michael Schumacher (1994, ’95, 2000, ’01 ’02, ’03, ’04)
7 — Lewis Hamilton (2008, ’14,’15, ’17, ’18, ’19, ’20)
5 — Juan Manuel Fangio (1951, ’54, ’55, ’56, ’57)
4 — Alain Prost (1985, ’86, ’89, ’93)
4 — Sebastian Vettel (2010, ’11, ’12, ’13)
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1 Jeff Bezos $140 billion
2 Bill Gates $98.3 billion
3 Bernard Arnault $83.1 billion
4 Warren Buffett $83 billion
5 Amancio Ortega $67.9 billion
6 Mark Zuckerberg $67.3 billion
7 Larry Page $56.8 billion
8 Larry Ellison $56.1 billion
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Various Artists
Habibi Funk: An Eclectic Selection Of Music From The Arab World (Habibi Funk)
Mercedes V250 Avantgarde specs
Engine: 2.0-litre in-line four-cylinder turbo
Gearbox: 7-speed automatic
Power: 211hp at 5,500rpm
Torque: 350Nm
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MATCH INFO
Champions League quarter-final, first leg
Ajax v Juventus, Wednesday, 11pm (UAE)
Match on BeIN Sports
Gulf Under 19s final
Dubai College A 50-12 Dubai College B
Specs
Engine: Duel electric motors
Power: 659hp
Torque: 1075Nm
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Abu Dhabi World Pro 2019 remaining schedule:
Wednesday April 24: Abu Dhabi World Professional Jiu-Jitsu Championship, 11am-6pm
Thursday April 25: Abu Dhabi World Professional Jiu-Jitsu Championship, 11am-5pm
Friday April 26: Finals, 3-6pm
Saturday April 27: Awards ceremony, 4pm and 8pm
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Bogleheads follow simple investing philosophies to build their wealth and live better lives. Just follow these steps.
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FIGHT CARD
Sara El Bakkali v Anisha Kadka (Lightweight, female)
Mohammed Adil Al Debi v Moaz Abdelgawad (Bantamweight)
Amir Boureslan v Mahmoud Zanouny (Welterweight)
Abrorbek Madaminbekov v Mohammed Al Katheeri (Featherweight)
Ibrahem Bilal v Emad Arafa (Super featherweight)
Ahmed Abdolaziz v Imad Essassi (Middleweight)
Milena Martinou v Ilham Bourakkadi (Bantamweight, female)
Noureddine El Agouti v Mohamed Mardi (Welterweight)
Nabil Ouach v Ymad Atrous (Middleweight)
Nouredin Samir v Zainalabid Dadachev (Lightweight)
Marlon Ribeiro v Mehdi Oubahammou (Welterweight)
Brad Stanton v Mohamed El Boukhari (Super welterweight
Prop idols
Girls full-contact rugby may be in its infancy in the Middle East, but there are already a number of role models for players to look up to.
Sophie Shams (Dubai Exiles mini, England sevens international)
An Emirati student who is blazing a trail in rugby. She first learnt the game at Dubai Exiles and captained her JESS Primary school team. After going to study geophysics at university in the UK, she scored a sensational try in a cup final at Twickenham. She has played for England sevens, and is now contracted to top Premiership club Saracens.
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Seren Gough-Walters (Sharjah Wanderers mini, Wales rugby league international)
Few players anywhere will have taken a more circuitous route to playing rugby on Sky Sports. Gough-Walters was born in Al Wasl Hospital in Dubai, raised in Sharjah, did not take up rugby seriously till she was 15, has a master’s in global governance and ethics, and once worked as an immigration officer at the British Embassy in Abu Dhabi. In the summer of 2021 she played for Wales against England in rugby league, in a match that was broadcast live on TV.
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Erin King (Dubai Hurricanes mini, Ireland sevens international)
Aged five, Australia-born King went to Dubai Hurricanes training at The Sevens with her brothers. She immediately struck up a deep affection for rugby. She returned to the city at the end of last year to play at the Dubai Rugby Sevens in the colours of Ireland in the Women’s World Series tournament on Pitch 1.
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The specs
Engine: 6.2-litre supercharged V8
Power: 712hp at 6,100rpm
Torque: 881Nm at 4,800rpm
Transmission: 8-speed auto
Fuel consumption: 19.6 l/100km
Price: Dh380,000
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the pledge
I pledge to uphold the duty of tolerance
I pledge to take a first stand against hate and injustice
I pledge to respect and accept people whose abilities, beliefs and culture are different from my own
I pledge to wish for others what I wish for myself
I pledge to live in harmony with my community
I pledge to always be open to dialogue and forgiveness
I pledge to do my part to create peace for all
I pledge to exercise benevolence and choose kindness in all my dealings with my community
I pledge to always stand up for these values: Zayed's values for tolerance and human fraternity
The specs: Fenyr SuperSport
Price, base: Dh5.1 million
Engine: 3.8-litre twin-turbo flat-six
Transmission: Seven-speed automatic
Power: 800hp @ 7,100pm
Torque: 980Nm @ 4,000rpm
Fuel economy, combined: 13.5L / 100km
The specs: 2018 Nissan Patrol Nismo
Price: base / as tested: Dh382,000
Engine: 5.6-litre V8
Gearbox: Seven-speed automatic
Power: 428hp @ 5,800rpm
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Anna and the Apocalypse
Director: John McPhail
Starring: Ella Hunt, Malcolm Cumming, Mark Benton
Three stars
Avatar: Fire and Ash
Director: James Cameron
Starring: Sam Worthington, Sigourney Weaver, Zoe Saldana
Rating: 4.5/5
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