Business Blog

The Muscat Municipality has decided to crack down on landlords evading tax on property rentals by imposing fines. According to a Muscat Municipality official, all property rentals are subject to a three per cent annual tax.

There has been no impact of Mers on tourism to Saudi Arabia, say travel agents even as the GCC country added additional measures to tackle the problem.

* Investors position for more ECB stimulus in June* Lower-rated euro zone debt yields fall to record lows* Euro slips further against dollar* Portuguese bonds also boosted by S&P outlook upgradeBy Francesco CanepaLONDON, May 9 (Reuters) - Lower-rated euro zone bond yields fell to fresh record lows and the common currency slid further on Friday as investors positioned for more monetary stimulus fro

In a major bid to expand the hotel market in the Kingdom, the Rezidor hotel group, one of the world's largest hotel groups, has announced the opening of 16 new hotels in prominent cities of the Kingdom including Makkah, Jazan, Taif, Hail, Buraidah and Dhahran by 2016.

GE has signed a Memorandum of Understanding (MoU) with the University of Dammam to provide scholarships for talented female Saudi students over the next three years.

Leighton Middle East Contracting, the Oman arm of Habtoor Leighton Group (HLG), has won a contract to construct USD78 million (AED286.26 million) million 5-star hotel in Muscat.