Gulf

Saudi Arabia gives final approval to VAT

A five-per cent levy will apply to certain goods following a GCC agreement last June Riyadh: Saudi Arabia is ready to implement a region-wide value added tax, the cabinet said on Monday, giving final approval to the measure which will take effect next year. Cabinet “decided to approve the Unified Agreement for Value Added Tax” to be implemented throughout the ...

Read More »

Dubai Expo 2020 to award $3b of building orders in 2017

The 47 construction contracts to be awarded are open to both local and foreign companies Dubai: Dubai’s World Expo 2020 plans to award 47 construction contracts valued at Dh11 billion ($3 billion) this year, providing an economic boost for the United Arab Emirates even as oil prices remain low. The contracts, which are open to both local and foreign companies, ...

Read More »

Oman transport: SalamAir to launch Salalah-Muscat flight today

Muscat: Oman’s first budget airline, SalamAir, will officially launch its maiden flight to Muscat International Airport from Salalah Airport today (Monday). The first flight will depart at 10.05am local time from Salalah, heading to Muscat International Airport. “SalamAir will first operate two flights daily for 10 days to Muscat, going up to three, and finally four flights, in a couple ...

Read More »

Public Prosecution office at HIA to collect fines

The Public Prosecution has opened an office at the Hamad International Airport (HIA) to process the transactions of departing passengers and enable them to pay fines they have incurred. Located at the departure lounge at HIA, the centre enables those banned from leaving the country by the Public Prosecution on account of not paying fines and others who have outstanding ...

Read More »

Kuwait minister calls for dialogue between Iran, Gulf states in rare visit

Kuwait’s foreign minister made a rare visit to Tehran on Wednesday and called for frank dialogue between Iran and its regional neighbours, the Islamic Republic News Agency (IRNA) reported. Tensions have risen between predominantly Shi’ite Iran and the mainly Sunni Arab countries of the Gulf, particularly Saudi Arabia, over their support for opposing sides in the conflicts in Syria and ...

Read More »

Saudi Prince Badr bin Salman bin Saud dies

His funeral prayers will be held on Sunday  Saudi royal Prince Badr bin Salman bin Saud bin Abdulaziz Al Saud passed away on Saturday, December 24, the official Saudi Press Agency quoted the Royal Court as stating. His funeral prayer will be performed on Sunday after Asr prayer at Imam Turki bin Abdullah Mosque in Riyadh, SPA addd. Last month, ...

Read More »

Expat Fee, Subsidy Cuts: What’s in Saudi Arabia’s Fiscal Balance Plan?

by Zainab Fattah and Vivian Nereim Saudi Arabia followed a historic budget announcement last week with an 84-page document outlining how the Arab world’s largest economy plans to balance its budget by 2020. The document includes plans to curtail capital spending, raise new revenue and stimulate the private sector. Following are highlights of what caught our attention: Capital Expenditure: Authorities ...

Read More »

Oman company boss jailed for 6 months for expired food scam

Muscat: A catering company was shut down after it was found selling expired food to popular hotels and shopping malls in Oman, the Public Authority for Consumer Protection (PACP) reported. The company has allegedly been adulterating the expiry date of food which was unfit for human consumption for months before it was caught. Following a surprise inspection at the company’s ...

Read More »