Category: ECONOMY

ECONOMY
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Oman Economy Expected to Grow 3 per cent: S&P

Standard & Poor’s Credit Rating Agency has a positive outlook about the growth of the Omani economy in the coming period. In a new published report, the Agency forecasted that the performance of the Omani economy will improve due to the oil production stability and the growth of non-oil sector by 3% in 2018 after […]

ECONOMY
Inflation Oman
Inflation rises by 0.58 per cent in April

The inflation rate in the Sultanate, calculated in terms of consumer price index (CPI), rose marginally by 0.58 per cent in April 2018, over the same period in 2017, according to the data released by the National Centre for Statistics and Information (NCSI). The marginal increase in inflation was driven by a rise in cost […]

ECONOMY
OER Summit
OER summit calls for leveraging talent capital and enhancing workforce productivity

Promoting entrepreneurship, mentoring SMEs, enabling private sector and implementing structural reforms are the building blocks of future economic growth Focusing on the productivity of workforce and leveraging the talent capital are essential for building an efficient organization and a sustainable economy, opined experts at OER Finance and HR summit, held at InterContinental Muscat, on Wednesday. […]

ECONOMY
OPWP signs RO60mn pact for desalination plant in Salalah
OPWP signs agreements worth 60mn for Salalah water project

The Oman Power and Water Procurement Company (member of Nama Group), the sole procurer of all electricity and water capacity in the Sultanate, signed a number of agreements to establish the Salalah Independent Water Project with an ACWA Power-led consortium with Veolia and DIDIC. The event was held under the patronage of Sayyid Mohammed bin […]

ECONOMY
Ominvest Office Building 3
Ominvest internal audit gets highest IIA rating

The internal audit at the Oman International Development and Investment Company (Ominvest) has been awarded the highest rating by the Institute of Internal Auditors (IIA) under the International Professional Practices Framework. The rating of “generally conforms” is the highest and means that an internal audit has a charter, policies, and processes in conformance with international […]

ECONOMY
Warner Bros. Plaza (PRNewsfoto/Miral & Warner Bros)
Warner Bros. World Abu Dhabi To Open 25 July 2018

Miral, Abu Dhabi’s creator of destinations, announced that Warner Bros. World Abu Dhabi, an indoor theme park, will open its doors to the public on 25th July 2018. When the highly-anticipated Warner Bros. World Abu Dhabi opens this summer, it will feature six immersive lands including DC’s Metropolis and Gotham City, as well as Cartoon […]

ECONOMY
Economy-1
IMF forecasts 3.7 percent growth in Oman’s real GDP for 2018

A recent report published by Thomson Reuters News Agency has said that as per the forecast growth rate, the budget deficit and the status of the balance of payments, the Omani economy is expected to perform well in 2018. The agency said that its forecast is supported by data published by the International Monetary Fund […]

ECONOMY
dubai
Gulf Jobs on the Rise, Driven By Higher Oil Prices

The job market in the Gulf is set to grow at an average rate of 9% this year, according to research conducted by GulfTalent, one of the region’s leading online recruitment portals. The results are based on GulfTalent’s survey of over 1,100 CEOs and executive managers of firms across the six-member Gulf Cooperation Council (GCC). […]

ECONOMY
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instOG to open a new chapter in Oman’s energy sector  

Oman opens the most advanced oil and gas training institute in the region, equipped with the industry’s latest technology, including drilling simulators and virtual reality technology that replicates the real work environment on site. Muhammed Nafie reports The new oil& gas training institute inaugurated yesterday by HH Sayyid Shihab Bin Tariq Al-Said, adviser to His Majesty the […]

ECONOMY
$20mn curcumin plant
$20mn curcumin plant to come up in Salalah

An agreement to set up the biggest plant in the world for the production of curcumin for food and medical supplements at Salalah Free Zone at a cost of $20 million was signed on Tuesday in Mumbai, India. Fortune Bio Organic factory at Salalah Free Zone will produce more than 12 tons of curcumin and […]