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Finance & Markets

China’s Tax Clampdown Brings in $24 Billion from Offshore Trusts

China’s ultra-wealthy have declared more than 160 billion yuan ($24 billion) in back taxes tied to offshore trusts, bowing to pressure from authorities increasingly eager to expand the tax dragnet far beyond their national borders.

We haven't written up this one. Bloomberg has the full story — the link below goes straight to it.

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SASCO Swings to Loss as Costs Outpace Revenue

Riyadh, Saudi Arabia — Saudi Automotive Services Co. (SASCO) reported a net loss of 20.79 million SAR for Q3 2026, reversing a net profit of 8.41 million SAR in Q3 2025.

  • SASCO reported a net loss of 20.79 million SAR in Q3 2026.
  • Revenue grew by 10.4% year-on-year to 3.38 billion SAR.
  • Costs increased faster than sales, causing profit to decline.

Al Masar Reports 31.7% Nine-Month Profit Jump

Riyadh, Saudi Arabia — Al Masar Al Shamil Education Co. posted a nine-month net profit of 93.3 million SAR for the period ending September 30, 2026 — a 31.7% increase from 70.9 million SAR in the same…

  • Al Masar Al Shamil Education Co. profit up 31.7% to 93.3 million SAR
  • Revenue increased 20.7% to 405.5 million SAR due to higher enrollment
  • Quarterly losses widened slightly to 25.3 million SAR from 19.6 million SAR

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