Saudi Arabia and the United Arab Emirates, which have long lured foreign workers with the promise of a tax-free lifestyle, plan to impose a 5% tax next year on most goods and services to boost revenue after oil prices collapsed three years ago.
Security forces in Colombia have killed one of its most-wanted drug fugitives, the alleged number two leader of a ruthless criminal network that arose from disbanded right-wing paramilitary groups to become the nation's largest drug-trafficking organisation.
Oil prices were largely flat yesterday after steep losses the previous session, with rising US production weighing against comments from leading Gulf oil producers that an extension to Organisation of the Petroleum Exporting (Opec)-led supply cuts was likely.
Qatar Airways has raised its stake in IAG — which owns British Airways, Aer Lingus, Iberia, and Vueling — close to 12%, strengthening ties built around the access that BA provides to North America, via London, and the Gulf carrier’s network of Asian routes.
Five of Europe’s biggest airline groups, including Ryanair, have joined forces for the first time to lobby the European Commission to cut taxes and reduce air traffic control strikes as part of the new aviation strategy being drawn up.
T5 Oil and Gas, the exploration investment firm headed by former Tullow Oil executives, has designs on becoming a publicly listed “multibillion-dollar” company and is targeting completion of its first reverse takeover deal before the end of this year.
Al Qaida gunmen shot four soldiers dead in one of the militants’ former south Yemen strongholds today, officials said, as the local governor declared that the country’s ill-equipped police force is incapable of filling the security void left by months of clashes.