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- Bazaar Protests Hit Iran; Saudi Cyber Firm Raises $54m; Riyadh Triples Vacant Land Tax
Bazaar Protests Hit Iran; Saudi Cyber Firm Raises $54m; Riyadh Triples Vacant Land Tax
Sunday, January 4, 2026
Happy Sunday everyone!
Iran is facing its largest nationwide protests in years after shopkeepers shut businesses across Tehran’s electronics district and the historic Grand Bazaar, protesting a collapsing currency and inflation above 40%, with one merchant saying closures were meant to be “a wake-up call.” In Saudi Arabia, Riyadh-based cybersecurity firm DSShield, founded in 2020 by Siraj Marghalani, raised $54 million (SAR 203 million) from Merak Capital to scale services for government, critical infrastructure and financial institutions. Separately, Saudi authorities billed more than 60,000 landowners in Riyadh under a new “White Land” tax cycle, tripling the levy on undeveloped plots to 10% annually, as the kingdom pushes owners to build within a year or face penalties, part of broader efforts to address housing shortages and expand non-oil revenue.
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‘It Makes More Sense to Stay Home’: Iran’s Bazaar Merchants Shut Shops as Currency Collapse Sparks Protests
What’s it About?
Iran is facing its largest nationwide protests in years after shopkeepers shut businesses across Tehran’s electronics district and the historic Grand Bazaar, protesting a collapsing currency and soaring inflation. “Out of respect for all Bazaar merchants and shopkeepers, we have no further sales,” one iron dealer wrote online. “Perhaps this will serve as a wake-up call.” The closures have since spread to universities and cities nationwide.
Why it Matters?
The protests pose a major test for President Masoud Pezeshkian’s reform agenda as living standards deteriorate. Annual inflation rose above 40% in December, oil revenues have shrunk under sanctions, and the rial has hit record lows. Shirin, who runs an online food business in Tehran, told the Financial Times that “transportation costs have risen sharply” and demand has collapsed as households prioritise essentials.
What’s Next?
Authorities have appointed a new central bank governor and struck a conciliatory tone, calling economic livelihoods a “non-negotiable.” But protests have spread to multiple provinces, with riot police deployed and dozens detained. Economist Ali Saedvandi warned that without restoring public trust, “this path is unsustainable,” adding that reforms will fail without social capital.
Saudi Arabia’s Fastest-Growing Cybersecurity Company Just Raised $54 Million
What’s it About?
Saudi cybersecurity firm DSShield has raised $54 million (SAR 203 million) from Merak Capital, backing its next growth phase. Founded in 2020 by Siraj Marghalani, the Riyadh-based company provides end-to-end cybersecurity services to government entities, critical infrastructure operators, financial institutions, and large enterprises across the Kingdom.
Why it Matters?
Cybersecurity is becoming core national infrastructure in Saudi Arabia. The Kingdom’s cyber market reached SAR 15.2 billion in 2024, growing 14% year-on-year, while Saudi Arabia ranked first globally on the IMD World Competitiveness cybersecurity indicator for 2025. As cloud adoption and industrial automation accelerate, demand for homegrown, compliant security providers is rising fast.
What’s Next?
The funding will expand security operations, scale managed services, and accelerate proprietary technology development. Merak Capital said the investment creates a “clear and sustainable pathway toward a public listing,” positioning DSShield as a potential national cybersecurity champion as Saudi Arabia’s digital economy deepens.
Saudi Arabia Triples ‘White Land’ Tax as Riyadh Landowners Face Development Deadline
What’s it About?
Saudi Arabia has billed more than 60,000 landowners in Riyadh under a new cycle of “White Land” fees, enforcing a 10% annual tax on large undeveloped plots. The levy, up from 2.5%, targets land over 5,000 square metres, pushing owners to either build within a year or pay up.
Why it Matters?
The policy is central to Vision 2030, aimed at unlocking idle land, easing Riyadh’s housing shortage, and cooling speculative land hoarding. It also reflects Riyadh’s broader push to broaden non-oil revenue, as oil still accounts for roughly 60% of state income. Higher taxes could reshape land pricing dynamics.
What’s Next?
Non-compliant owners face penalties of up to double the tax, though grace periods apply for active developers. Analysts say price adjustments may take months. The move also lands as Saudi Arabia prepares to open large-scale foreign property ownership, potentially amplifying market shifts.
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