Category: ECONOMY

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
18032018_092653_3
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 […]

ECONOMY
Asyad
Asyad signs deal with Saudi company to set up Khazaen Economic City

A partnership agreement for the establishment and development of Khazaen City and a memorandum of understanding for the study and development of model residential plots (the pilot plan, Jahloot layout /First Stage) were signed at Oman Convention and Exhibition Centre on Monday, on the sidelines of the opening of Oman Real Estate Expo 2018 (OREX). […]

ECONOMY
Omantel EY
Omantel teams up with EY for advanced cyber security portfolio

Omantel, the premier provider of integrated telecommunications services in the Sultanate, has teamed up with EY, a leading global professional services organisation, to provide advanced Cybersecurity as a Service (CaaS) from Oman to the region. The agreement was signed on the sidelines of Mobile World Congress (MWC) in Barcelona, Spain, and will be effective April […]

ECONOMY
Mazoon
Mazoon Dairy awards three new contracts

Mazoon Dairy, the flagship dairy project of the Sultanate of Oman, has passed another major milestone in its development with the award of three new contracts worth OMR25million. The contracts have been awarded to ARTAT, Al Adrak Trading and Contracting and Tetra Pak to commence the development of its technologically advanced central dairy processing plant […]

ECONOMY
invest corp
Investcorp to launch $100mn fund for Omani Pension Funds

Investcorp, a leading global provider and manager of alternative investments, will launch a $100 million fund dedicated to Oman’s Pension Funds. The Opportunities Fund (the Fund), was announced at an event hosted by the Ministry of Defence Pension Fund in Muscat. The event, which gathered several senior representatives from the Sultanate’s other pension funds, discussed […]

ECONOMY
inflation
Oman’s inflation rises 0.49 per cent in February

The annual inflation rate in Oman for February 2018 increased to 0.49 per cent compared to the same month of the previous year according to the consumer price index (CPI) data released by the National Centre for Statistics and Information (NCSI). The rate declined by 0.05 per cent compared to January 2018. The rise in […]