Saudi Arabia has ratcheted up the stakes in an intensifying competition with neighbouring Dubai for foreign talent and money. From 2024, the Saudi government will stop giving state contracts to companies and commercial institutions that base their Middle East hubs in any other country in the region, the Saudi finance minister told Reuters. The measure is the latest attempt by the kingdom to remould itself as a financial and tourism hub under the leadership of Crown Prince Mohamed bin Salman. “It’s a further challenge to UAE business, especially Dubai, though the superior operating environment, legal environment and facilities (there) suggests that businesses may continue to have offices acr
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