GEA chief says,we are alread­y buildi­ng the infras­tructu­reRIYADH: Saudi Arabia announced plans on Thursday to spend billions on building new venues and flying in Western acts, in a total overhaul of its entertainment sector that would have been unthinkable not long ago. At a glitzy press conference in Riyadh, General Entertainment Authority (GEA) chief Ahmad bin Aqeel al-Khatib told reporters the kingdom is set to invest $64 billion in its entertainment sector over the coming decade. Saudi Arabia, UAE prepare for taxes in 2018Khatib said hundreds of new companies have sprung up over the past year, registering for licences to take advantage of the budding sector. The bridge is being reversed,” he said, adding that Bahraini nationals were now coming to Saudi Arabia for events —accounting for 10 percent of ticket sales in recent months. Saudi Arabia to host first Arab Fashion WeekSaudi Arabia, the world’s top oil exporter, has been struggling to cope with persistent budget deficits that began in 2014 when crude prices plummeted.

Source: The Express Tribune February 23, 2018 00:22 UTC