The Sultanate registered a year-on-year (CPI-based) inflation rate of 1.34 per cent for August, driven mainly by a 7.25 per cent rise in prices in the transport set, and a 0.83 per cent rise in the housing, water, electricity, gas and other fuels set, according to the latest report by the National Centre for Statistics […]
The Sultanate’s tourism industry is poised to play an important role in Oman’s near-term move away from hydrocarbons reliance, and in its long-term economic growth plan The oil price drop between June 2014 and January 2016 – when oil fell below $30 a barrel – threw the economic dangers of an over-reliance on hydrocarbons into […]
OPEX Tehran to be held from September 25 to 30 is expected to benefit Omani exporters hugely. Around 150 Omani exporters are expected to participate in the event. A Harikumar reports Close on the heels of the success of Omani Products Exhibition (OPEX) held in Addis Ababa, Ethiopia from April 11 to14, Oman is planning […]
Omantel, the Sultanate’s most trusted telecoms provider has announced a complete upgrade of its range of Home Broadband packages. The new packages offer blistering fast connection speeds of up to 200 Megabits per second (Mbps) all at a lower price point, giving customers great value while making online gaming, video streaming and downloading more affordable […]
Prevailing market conditions present a good opportunity for investors looking for value over a period of time On January 20, 2016 t he US oil benchmark – West Texas Intermediate (WTI), fell to $26.55 per barrel, the lowest level since 2003. The historic low had a ripple effect across stock markets in oil producing countries, […]
According to a recent Bloomberg report, Saudi Arabia’s Public Investment Fund is likely to make an offer next month to buy Riyadh’s unfinished financial hub as the government attempts to rehabilitate a project plagued by delays and cost overruns.
OER Business Summit 2016 held in Muscat on Wednesday made a renewed plea for economic diversification in tourism and other sectors, dismantling the sponsorship system for SMEs with partnership model besides regulating the labour market to attract investors to ease the impact of declining oil prices. Organised by Oman Economic Review (OER), the Sultanate’s premium business magazine, and held under the theme ‘The Diversification Imperative,’ the Summit included paper presentations by experts and incisive panel discussions on the imperative of diversification for the Sultanate’s economy.
According to a recent Bloomberg report, Qatar’s sovereign wealth fund is undergoing its biggest overhaul since 2014, grouping $100 billion of investments in local companies into a new unit and abandoning the Qatar Holding name synonymous with its highest-profile deals.
Moody’s expects Oman’s current account balance to deteriorate further in 2016 and to register a deficit of 24% of GDP because of the fall in oil exports. Oman’s dependence on oil and gas exports will remain high, above 50% of total exports.