Kingdom Holding Company Purchases $ 200 Million Four Seasons Toronto Hotel

Updated 17 November 2012
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Kingdom Holding Company Purchases $ 200 Million Four Seasons Toronto Hotel

Riyadh: Kingdom Holding Company has signed an agreement to purchase Four Seasons Toronto Hotel worth $ 200 million.
The Company said in a statement today that the deal will be financed through obtaining a real estate loan worth $ 130 million, and the Company’s resources worth $ 70 million, noting that the hotel includes 259 rooms and 42 suites.
--SPA


Omani expat visa ban extended for certain professions

Updated 52 min 47 sec ago
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Omani expat visa ban extended for certain professions

DUBAI: Oman’s expat visa ban is being extended for six months and extra sectors have been introduced, national daily Times of Oman reported, citing the Ministry of Manpower.
The additional areas of work being placed on the ban include carpentry, metal, aluminum workshops, brick factories.
Professions already in the ban include sales, construction, cleaning and media.
“An update will be issued regarding this decision once the six-month period temporary ban is completed,” an official from the Ministry of Manpower said.
The Omanization drive is part of a government’s push to recruit more Omani nationals, a similar push is underway across the GCC where countries like Saudi Arabia and Kuwait have also been trying to increase the number of locals in employment.
Earlier this year a six-month visa ban on hiring expats was imposed across 87 industries, including media, engineering, marketing and sales, accounting and finance, IT, insurance, technicians, administration and HR.