Petroleum Development Oman (PDO) has signed research and development agreements with Sohar and Al Sharqiyah Universities to help resolve some of its complex technical challenges. It is hoped the memorandums of understanding (MoUs) will help PDO further develop its competitive delivery by reducing costs, increasing production and reserves while operating in a safer and greener environment. […]
Oman’s total budget expenditure fell by 5.8 per cent to RO12,908.2mn in 2016, according to the Central Bank of Oman’s (CBO’s) annual report. As the cut in expenditure fell short of the decline in revenues, the fiscal deficit stood at RO5,300mn in 2016, compared with RO4,361.4mn in 2015 (fiscal deficit as a percentage to GDP […]
The annual report of the Central Bank of Oman (CB), released today, says Oman’s economy is expected to witness a slowdown in 2017, but the country is well placed to deal with the challenges in the short term. The government has been proactive in undertaking various measures to address the macroeconomic challenges over the medium-term. […]
Bank Muscat reported net profit of RO84.31mn for the first half of 2017, down from RO90.47mn for the same period in 2016. The bank’s net interest income from conventional banking stood at RO125.63 million for the first six months of 2017, compared with RO124.42mn for the same period of 2016, reflecting an increase […]
Nissan has set the Guinness World Records title for the fastest drift using the specially tuned MY16 Nissan GT-R by entering a drift at a speed of 304.96 km/hr. Watch the full video here.
The Lord Mayor of the City of London, Jeffrey Mountevans, recently visited Oman. The major focus of the visit was to strengthen the UK’s relationship with Oman. Click to view an excerpt of Lord Mayor’s interview.
Spearheading a new era in hybrid technology across the Middle East, Saud Bahwan Group launched Toyota Prius in Oman. Watch the full video of Toyota Prius launch.
Shell has announced its fifth Gift to The Nation during a ceremony held recently at the Grand Hyatt in Muscat. Watch the video.
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Al Qurum Jewellery, the official partner of Patek Philippe in Oman, opened its newly revamped boutique for the world renowned Swiss watchmaker at the Opera Galleria, Royal Opera House Muscat after an extensive expansion and renovation programme. “Patek Philippe has held a strong and enduring bond with Al Qurum Jewellery dating back more than a […]