Business Blog

A group of MPs expresses "considerable concern" at a plan to allow the tax authority to settle unpaid demands by taking money from people's bank accounts.

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.

Emirates Telecommunications Corporation (Etisalat) announced today that it expects the closing of the acquisition of Vivendi's 53% shareholding in Itissalat Al Maghrib (Maroc Telecom) to be completed on May 14, 2014.

British Airways owner IAG says its losses in the first quarter of the year narrowed, helped by an improved performance from its Spanish airline Iberia.