Gulf state seeks to restore finances battered by low oil prices. Oman expects to introduce an income tax on high earners in 2022, the finance ministry said in a 2020-2024 economic plan, new details of which were published late on Sunday, as the Gulf state seeks to restore finances battered by low oil prices. The plan aims to bring Oman’s fiscal deficit down to 1.7 per cent of gross domestic product by 2024, from a preliminary deficit of 15.8 per cent this year. It also has a target of increasing non-oil revenues to 35 per cent of total government revenue by 2024, from 28 per cent this year. None of the six Gulf Cooperation Council (GCC) states, all oil producers, currently collect income tax from individuals. Oman’s Sultan Haitham, who took power in January, last month app
AMMAN: The finance, interior and international planning ministers were among those who left. Health Minister Saad Jaber and Minister of Media Affairs Amjad Adaileh also left, with many viewing their departure as an indication that their performance was no longer acceptable. Amer Bani Amer is director of the NGO Rased-Hayyat Center, which monitors the government and parliament. He said that the new administration needed to make specific, time-sensitive and measurable commitments and determine who would follow through on them. “The new government needs to follow up what was not fulfilled by the previous government and build on it based on national priorities,” he told Arab News. “It is necessary to build trust with people and not to widen its promises so as not to leave the publi
JEDDAH: Worshippers suffering from chronic diseases were on Monday urged to postpone planned Umrah pilgrimages to the Grand Mosque in Makkah due to the increased risks to their health should they contract the coronavirus disease (COVID-19). Saudi Ministry of Health officials said people with uncontrolled diabetes, high blood pressure, obesity, cirrhosis, and coronary artery disease who had been admitted to hospital within the past six months, should put their visits on hold. Those having attended hospital in the last 12 months for treatment related to cardiac insufficiency, immunodeficiency, and chronic chest diseases were also recommended to stay away for the time being, along with pregnant women. The ministry’s advice came via an awareness infographic published on its Twitter page
Saudi Arabia’s largest bank by assets, the National Commercial Bank (NCB), is buying the fourth largest, Samba Financial Group, for $15.4 billion. The combined company will be the third-largest lender in the GCC with combined assets worth $220 billion. NCB’s existing shareholders will own 67.4 percent and Samba’s shareholders will own 32.6 percent of the new entity. The Saudi Public Investment Fund (PIF) will be the largest shareholder of the combined with 37.2 percent. The Saudi Public Pension Agency and the General Organization for Social Insurance will own 7.4 percent and 5.8 percent, respectively. Times of crisis sometimes accelerate change. The GCC economies have been hit by the twin shocks of lower oil prices and the coronavirus disease (COVID-19) outbreak. The latter brought e
AL-AHSA: If you close your eyes and try to picture the average Saudi man, the chances are you imagine him in a thobe and a bisht. Also known as mishla, the bisht is a men’s cloak worn over a thobe — or ankle-length tunic — in the Arab world. Usually black, brown, grey, beige or white, it is the most traditional of Saudi outfits, and one of the most prestigious, associated with royalty, wealth and ceremony, similar to the black-tie tuxedo in the West. Particularly popular in Saudi Arabia, it is also worn in other Gulf countries. Bishts are typically worn on special occasions such as weddings, but members of the royal family are almost always seen in them. Bishts, like any other type of clothing, come indifferent qualities. From the generally cheaper Syrian and Emirati bishts, to the w
The village of Konne, in the Jangaon district of southern Telangana state, has been mourning his death NEW DELHI: An Indian farmer who died after fasting for US President Donald Trump’s recovery is being mourned by his village. Bussa Krishna Raju, who changed his name to Trump Kriss in honor of his idol, had been abstaining from food and drink following news of Trump’s coronavirus infection. He broke his fast on Saturday upon learning that the president was better, only to collapse the following day while drinking tea. The village of Konne, in the Jangaon district of southern Telangana state, has been mourning his death. “The death of Trump Kriss is news in this area,” local journalist Veera Gaud told Arab News. “He used to worship Trump and, because of his devotion
The court observed that posting and uploading nude photographs of a spouse in public domain amounts to the betrayal of mutual trust and confidence. Taking serious note of the gravity of the offence and its physical and psychological impact, the Himachal Pradesh High Court in India has dismissed an anticipatory bail plea of a man accused of uploading obscene photographs and videos of his wife on social media in her name. Justice Vivek Singh Thakur passed this order on Tuesday on the petition of Abhishek Mangla for grant of anticipatory bail. Mangla's wife had registered a police complaint that he clicked her nude photographs on his mobile and threatened her to ask her father to provide a scooter to him, else he would post her nude photographs on the internet. On her resistance...
UAE fuel prices were last revised in April, and have been unchanged since then. Fuel prices in the UAE were left unchanged for the month of November on Wednesday. Super 98 petrol will cost Dh1.91 per litre, Special 95 petrol will cost Dh1.80 per litre, while E-Plus will cost Dh1.72 a litre. Diesel will cost Dh2.06 a litre. <!-- Click/tap here to subscribe to Khaleej Times news alerts on WhatsApp. Make sure you save the phone number under Contacts on your phone for uninterrupted service. --> Content retrieved from: https://www.khaleejtimes.com/business/energy/uae-petrol-prices-remain-unchanged-for-november.
Lebanon sets out its claim in maritime border talks A military source told Arab News: “The Lebanese side considers that Israel, through the border line it drew for itself, is eating into huge areas of Lebanese economic waters.” BEIRUT: Lebanese negotiators laid out their claim to maritime territory on Wednesday as they began a second round of talks with Israel over their disputed sea border. The contested zone in the Mediterranean is an estimated 860 square kilometers known as Block 9, which is rich in oil and gas. Future negotiations will also tackle the countries’ land border. Wednesday’s meeting took place at the headquarters of the UN Interim Force in Lebanon (UNIFIL) amid tight security. An assistant of the UN special coordinator for Lebanon
Satellite photos show construction at Iran nuclear site A satellite image Monday shows the site cleared away with what appears to be construction equipment there Analysts from the James Martin Center for Nonproliferation Studies say they believe the site is undergoing excavation DUBAI: Iran has begun construction at its Natanz nuclear facility, satellite images released Wednesday show, just as the UN nuclear agency acknowledged Tehran is building an underground advanced centrifuge assembly plant after its last one exploded in a reported sabotage attack last summer. The construction comes as the US nears Election Day in a campaign pitting President Donald Trump, whose maximum pressure campaign against Iran has led Tehran to abandon all limits on i...