Saudi Arabia Examines Mechanisms of Technical Services Pricing

The Non-oil Revenue Development Center seeks to achieve financial sustainability and diversify sources of income. (Asharq Al-Awsat)
The Non-oil Revenue Development Center seeks to achieve financial sustainability and diversify sources of income. (Asharq Al-Awsat)
TT
20

Saudi Arabia Examines Mechanisms of Technical Services Pricing

The Non-oil Revenue Development Center seeks to achieve financial sustainability and diversify sources of income. (Asharq Al-Awsat)
The Non-oil Revenue Development Center seeks to achieve financial sustainability and diversify sources of income. (Asharq Al-Awsat)

The Saudi government is currently examining the legal tools by which fees are imposed for services provided by technology companies for the benefit of government agencies.

According to information obtained by Asharq Al-Awsat, the government requested all public agencies to provide the Non-oil Revenue Development Center, within a period not exceeding 30 days, with all data related to fees and charges imposed by government, semi-government and private technology companies in exchange for operating electronic platforms or providing relevant services.

The Non-oil Revenue Development Center seeks to achieve financial sustainability and diversify sources of income. It enjoys legal personality and financial and administrative independence, and is organizationally linked to the Minister of Finance.

The center aims to support government agencies and programs related to increasing non-oil revenues in the country.

The center also follows up on the implementation of the approved initiatives, addresses difficulties faced by government agencies, and coordinates efforts with public agencies and vision realization programs regarding the implementation of joint initiatives.

The government has previously requested all public agencies to coordinate with the Non-oil Revenue Center when studying, evaluating, signing or renewing contracts that entail the collection of any sums of money in return for providing or facilitating the implementation of government agencies’ services, in addition to providing the center with a copy of all existing contracts.



Saudi Chemicals Group SABIC Reports Q1 Net Loss of $323 Million

File photo: SABIC accounted for approximately 69% of the sector’s net profits in Q2 2024, with an 85% growth. (SABIC)
File photo: SABIC accounted for approximately 69% of the sector’s net profits in Q2 2024, with an 85% growth. (SABIC)
TT
20

Saudi Chemicals Group SABIC Reports Q1 Net Loss of $323 Million

File photo: SABIC accounted for approximately 69% of the sector’s net profits in Q2 2024, with an 85% growth. (SABIC)
File photo: SABIC accounted for approximately 69% of the sector’s net profits in Q2 2024, with an 85% growth. (SABIC)

Saudi chemicals giant SABIC 2010.SE reported a net loss of 1.21 billion Saudi riyals ($323 million) in the first quarter of 2025, compared to a profit of 0.25 billion riyals a year ago.
The company said in February that it planned to cut costs and find new investment opportunities, after reporting worse than expected fourth-quarter results against a sectoral backdrop dominated by margin pressures.
It also reported sales of 34.59 billion riyals in the first quarter of 2025, a 5.8% increase compared to 32.69 billion riyals a year earlier, reported Reuters.
The chemicals industry has been grappling with weak demand and high input costs, leading to lower prices and squeezed margins.