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Industry News
Source: Seetao

Sinopec Completes Over 80% of Saudi East-West Gas Pipeline Project Sections

Chinese state contractor Sinopec has completed over 80% of construction on sections six and seven of Saudi Arabia's National Natural Gas Pipeline Network Phase III Project. The contractor has welded more than 678 kilometers of large-diameter pipeline using Chinese-made automated welding and intelligent equipment. Once finished, the 700-kilometer desert route will supply natural gas to King Abdullah Economic City and multiple power stations.

Policy & Legal Updates
Source: Arabian Business

UAE Issues Tax Rules for Multinationals Under Global Minimum Tax Regime

The UAE Federal Tax Authority has issued a guide on its Qualified Domestic Minimum Top-up Tax regime under the OECD/G20 Pillar Two framework. The rules mandate a minimum corporate tax rate of 15% for multinational enterprise groups with annual global revenues of at least €750 million. In-scope entities with fiscal periods ending prior to April 30, 2026, must register via EmaraTax by November 30, 2026.

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