Category: ECONOMY

Oman’s non-oil exports surge 28 per cent to RO 1.8bn

Oman’s non-oil exports surged by 28.3 per cent to OMR1,827.2 million for the first seven months of 2017 from OMR1,424 million for the same period of last year. A recovery in commodity prices since the beginning of the year seems to have aided an increase in export revenue, after a gap of almost two years. […]

Oman Forum
Oman Forum 2017 calls for nurturing SMEs and enabling job creation

Oman Forum 2017 made a strong pitch to nurture SMEs, develop entrepreneurship and create employment opportunities for Omanis. HE Abdullah Al Salmi, Executive President, Capital Market Authority was the chief guest and HE Rashid Ahmed Al Shamsi, Deputy Chairman, Majlis Al Shura, was the guest of honour at the event held at Sheraton Oman on December […]

Omani banks achieve 6.2 per cent growth in credit

Omani banks, including Islamic institutions, have achieved a year-on-year growth of 6.2 per cent at OMR23.3 billion by October-end of 2017. Credit to the private sector increased by 5.8 per cent to OMR20.8 billion as at the end of October 2017, according to the latest monthly statistics released by the Central Bank of Oman. Of […]

FAERC reviews financial situation
FAERC reviews financial situation

The Financial Affairs and Energy Resources Council on Wednesday held its 7th meeting of the year under the chairmanship of HE Darwish bin Ismaeel bin Ali al Balushi, Minister Responsible for Financial Affairs, and Deputy Chairman of the Financial Affairs and Energy Resources Council. As part of its follow up of the financial and economic […]

EU parliament delegation visits Duqm
EU parliament delegation visits Duqm

A delegation from Oman Parliamentary Friendship Group in the European Union (EU) Parliament, headed by Ramona Manescu, Head of the Oman Parliamentary Friendship Group on Wednesday paid a visit to the special economic zone in Duqm to view the projects being implemented and the available investments opportunities. During the visit, the delegation met with Yahya […]

PACI to initiate more craft projects

The Board of Directors of the Pubic Authority for Craft Industries (PACI) held its third meeting this year under the chairmanship of Shaikha Aisha bint Khalfan al Siyabiyah, PACI chairperson. During the meeting, the Board approved a number of decisions that aim at developing craft performance and work to ensure sustainability of the projects and […]

Oman achieves RO1.21bn trade surplus

The Sultanate has achieved a whopping trade surplus of OMR1.21 billion by the end of 2016, which was driven by the country’s favourable trade with Asian nations. The total imports last year were recorded at OMR8.9 billion and total exports were at OMR10.11 billion. The highest surplus in the trade balance recorded from the Asian […]

BP Oman Khazzaan
Petrofac awarded $800mn contract for Khazzan gas project

Petrofac has been awarded a lump-sum contract worth approximately $800 million by BP for the Phase 2 central processing facility (CPF) at the Khazzan Phase 2 (Ghazeer) gas development in the Sultanate. This follows the $1.4 billion Phase 1 CPF Khazzan project, awarded to Petrofac in February 2014, which celebrated first gas on September 22, […]

Banking & Finance
Bank Sohar Vision
Bank Sohar collaborates with Vision to offer insurance services

As part of its consistent efforts to provide a diverse bundle of products and services to customers across the Sultanate, Bank Sohar recently signed an agreement with leading Omani insurer Vision Insurance to offer motor, home and travel insurance, as part of its non-life insurance products under the Bank Sohar A’ Tameen Al Mumayaz brand. […]

Bunkering in Duqm
Oman Oil launches fuel bunkering at Port of Duqm

Oman Oil Marketing Company has started its fuel bunkering operations by barge at Port of Duqm as part of its drive to expand ship-to-ship services in the Sultanate’s maritime logistics hubs. Developed in line with the most stringent international environment and marine safety fuel measures, the new services will play an integral role in the […]