Starting June 15, Oman will impose a new tax on sugary drinks and tobacco products.
A 100 per cent excise tax will be introduced on tobacco products, energy drinks, while 50 per cent tax will be applied on carbonated drinks, according to Oman's state news agency.
The new taxes are forecast to generate about 100 million Omani rial (US$260 million) annually.
Oman had originally planned to introduce a 5 per cent value-added tax in 2018, which is now expected to start in 2020.
Standard Chartered issues clarification on local operations
Standard Chartered Bank has clarified that reports of staff being evacuated from its Dubai offices are inaccurate.
DP World reports record $24.4bn revenue for 2025
DP World has announced its financial results for 2025 on Thursday, with a 22.4 per cent increase in revenue to $24.4 billion, and adjusted EBITDA up 18 per cent to $6.4 billion.
IEA proposes record release of strategic stocks in response to Iran war oil price surge
The International Energy Agency (IEA) on Wednesday recommended the release of 400 million barrels of oil, the largest such move in its history, to try to restrain soaring crude prices amid the U.S.-Israeli war with Iran.
H.H. Sheikh Hamdan highlights economic resilience at Dubai Majlis
His Highness Sheikh Hamdan bin Mohammed bin Rashid Al Maktoum, Crown Prince of Dubai, UAE Deputy Prime Minister and Defence Minister, attended a specially convened Dubai Majlis to discuss strategies to reinforce economic resilience.
10:00pm - Midnight
Midnight - 1:00am
