Summers warns US risks rising inflation amid massive stimulus

Washington:  Former Treasury Secretary Lawrence Summers reiterated his warning that the US risks rising inflation amid massive government stimulus, easy monetary policy and an expected surge in consumer spending as the Covid-19 pandemic recedes. “The idea that it can’t ratchet up quickly is just plain wrong,” Summers told David Westin on Bloomberg Television’s “Wall Street Week” […]

Oman exempts some sectors from tax until end of year

Dubai: Muscat’s hotels, tourist restaurants, cinemas, amusement, and entertainment centres will be exempted from tax collected by the municipality till the end of the year (December 2021), local media reported. The move comes as part of the Capital’s efforts to support businesses in the wake of coronavirus crisis. According to the statement issued, the Muscat […]