Category: ECONOMY

Oman’s January inflation rises by 1.05 per cent

The inflation rate in the Sultanate in January 2018 increased by 1.05 per cent compared with the same period in 2017. It was also an increase of 0.1 per cent compared with December 2017, according to the latest data released by the National Centre for Statistics and Information (NCSI). The rise in the price index […]

Qais Al Yousef
Qais Mohammed al Yusuf elected as chairman of OCCI

Qais Mohammed al Yusuf has been elected the new chairman of Oman Chamber of Commerce and Industry (OCCI) for the period 2018-22 following elections that took place at the chamber today. Qais Mohammed, who is the CEO of the Al Yousef Group, was elected by a secret ballot. Members also elected two new vice-presidents and […]

Bahwan IT
Bahwan IT to introduce Granlund Manager in Oman

Bahwan IT has signed a Value Added Reseller agreement with Finnish firm Granlund to enhance energy efficiency and management in Oman buildings. Under the agreement, Bahwan IT, a part of the Suhail Bahwan Group, will market Granlund’s proprietary software Granlund Manager in Oman. The Computerised Maintenance Management Software helps save cost and energy in buildings […]

Omani pavilion in Sudan
Oman pavilion in Sudan attracts visitors

With more than 680 companies from 33 countries participating in international fair at Khartoum, the Omani pavilion has received significant turnout in Sudan. This is PEIE’s first participation at the International Fair of Khartoum, which comes in line with its efforts to expand markets for the Omani products. Hamood Al Balushi, director of Omani Products […]

Oman’s economy grows by 10 per cent

Oman’s economy has achieved a robust 10.1 per cent growth rate at RO20.33bn for the first nine months of 2017, mainly driven by a remarkable growth in crude oil prices in the international market and surge in non-oil activities. The average price of Oman Crude surged ahead by 27.8 per cent to $51.3 per barrel […]

Win-win partnership

An Indian business delegation representing a wide swath of sectors visited Oman to explore bilateral trade and investments opportunities   An Indian trade delegation from the states of Gujarat and Maharashtra, comprising promoters of 45 Indian companies representing various sectors, visited Oman from January 16-19, 2018 to explore trade and investments cooperation with Omani companies. The […]

Indian Business delegation
Indian delegation explores trade opportunities in Oman

The Public Authority for Investment Promotion and Export Development (Ithraa) and the Public Establishment for Industrial Estates (PEIE) joined hands to meet with an Indian business delegation at the Knowledge Oasis Muscat. “Oman has a long history of bilateral trade with India, with links dating back centuries, and we are looking to ensure this tradition […]

Al Mazyunah Free Zone attracts 160 companies

Al Mazyunah Free Zone has attracted 160 companies, which resulted in heavy investment. “This growth comes as a result of several factors and efforts made by the Public Establishment for Industrial Estates (PEIE) and related governmental bodies to streamline and facilitate the investment procedures in Al Mazunah Free Zone and to overcome the challenges facing […]

Foreign investments worth RO1.5bn in the offing, says Al Sunaidi

Investors have sought permission from Oman government for establishing 24 projects with a combined investment of OMR1.5 billion. These projects are in different sectors, including manufacturing industry, said the country’s minister of commerce and industry Dr Ali bin Masoud Al Sunaidi, while addressing the Majlis Al Shura. Also, nearly 57 per cent of the manufacturing […]

Port of Salalah
Salalah Port’s profit falls to OMR5.23m

Salalah Port Services has posted an 8.6 per cent fall in net profit at OMR5.23 million for 2017, against OMR5.73 million posted for the previous year. Total revenue of the port rose by 3.7 per cent to OMR56.91 million from OMR54.87 million, while expenses rose by 5.1 per cent to OMR51.67 million from OMR49.15 million. […]