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South African expatriates who built businesses in jurisdictions such as the United Arab Emirates, Qatar and Saudi Arabia while enjoying non-resident tax status are encountering significant tax consequences when returning home. Resuming South African tax residency can trigger Controlled Foreign Company rules, Place of Effective Management implications and Permanent Establishment risks, potentially exposing foreign company profits to South African tax even when no funds are repatriated.
India pivots to Russian crude and coal amid Iran conflict disruptionIndia's crude imports from Russia surged to a record 2.55-million barrels a day in June, capturing nearly 50% of total imports, up from 23% before the Iran war began on February 28. Coal imports from Russia also climbed, with June volumes 51% above pre-conflict averages, as India seeks diverse suppliers to reduce reliance on Australia and bolster steel output expected to reach 400-million tonnes a year by 2035.
Riyadh Metro Red Line extension awarded to Webuild-led consortiumThe Royal Commission for Riyadh City awarded a $2.75-billion contract in January for an 8.4 km extension to the Red Line, including five new stations and integration with the existing driverless metro network. The project, led by Webuild with Larsen & Toubro, Nesma and Alstom, will link King Saud University and the Diriyah Gate development.
Saudi Arabia Updates
India has swung to buying Russian crude oil and coal to bolster its energy supplies after flows were disrupted and prices rose during the Iran conflict. The world's third-largest oil importer is...
Oil prices fell on Friday on the prospect of more supply returning to the market after oil tankers began to move through the Strait of Hormuz following the signing of the US-Iran interim peace...
South African architectural studio dhk Architects has joined global architecture firm Egis Group’s 10N collective, marking a significant milestone in the Cape Town- and Johannesburg-based studio's...
Crane and hoist manufacturer Condra has expanded its maintenance programme to include hands-on training for customers’ service personnel, with further plans to introduce remote diagnostics for...
The new section forms part of the six-line Riyadh Metro network.
Look out for PyroFuZA. Those eight letters have the potential to make best use of South Africa’s natural resources and restore South Africa’s value-adding power, which, in turn, can help to foot...
Oil prices extended gains on Monday as efforts to end the Iran war appeared to have stalled, after a nuclear power plant in the United Arab Emirates came under attack and as US President Donald...
The International Trade Administration Commission of South Africa (Itac) has recommended that existing anti-dumping duties of between 10% and 45% on clear float glass be maintained after finding...
Canadian gold and silver producer Denarius Metals has rescinded its unsolicited offer to acquire all of the issued and outstanding common shares of TSX-V-listed Emerita Resources Corporation. The...
South Africans woke up to record-high fuel prices on May 6, 2026. A litre of diesel (50ppm) costs R31.38. It is the first time ever the price has gone over R30. A litre of 95 Octane in Gauteng...
The project entails the construction of a combined-cycle gas turbine power plant fuelled by natural gas, with gasoil backup, alongside a seawater reverse osmosis desalination facility.
South Africa is boosting oil-product imports from the US to help replace lost supplies from the Middle East, in another example of how the conflict is reshaping trade and threatening higher costs...
The Fuel Industry Association of South Africa (FIASA) has confirmed that fuel imports for the period from April to June will increasingly be sourced from regions outside of the Gulf and that there...
The project proposes the construction of a combined-cycle gas-fired power station of up to 1 800 MW.
The conflict in the Middle East has cracked open the door for Australia to speed up the development of a handful of green iron projects as part of efforts to cut emissions from producing steel....
TSX- and NYSE-listed Platinum Group Metals (PTM) says it is investigating opportunities to collaborate and co-invest with smaller furnace operators in South Africa who are interested in modifying...
Management consulting firm Kearney's ‘2026 Foreign Direct Investment Confidence Index’ reflects a global investment environment shaped by intensifying geopolitical tensions, expanding industrial...
Australia's quarterly resources and energy outlook has been delayed for the first time owing to "extreme volatility" caused by the US-Israel war against Iran, which is rendering forecasts out of...
Liquefied petroleum gas (LPG) is a clean, scalable and easily deployable solution for energy, and it also enables flexibility, which can bolster energy security at a time of heightened geopolitical...
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