In further recognition of its excellence and pioneering of nationwide business initiatives, BankDhofar has been awarded the “OER Top 20 Oman’s Largest Corporates” at the annual ‘OER Finance Summit & Top 20 Awards’ that was organised by United Media Services (UMS).
The importance of social media and the opportunities it provides for businesses in the sultanate was the topic of the Oman American Business Center’s (OABC) latest panel discussion, “The Business of Social Media”, moderated by popular radio presenter and blogger Rumaitha Al-Busaidi was held at the Grand Hyatt Muscat.
Generating a variety of high potential leads and the possibility to attract over 40,000 delegates, the Oman Convention & Exhibition Centre (OCEC), the Sultanate’s landmark events hub, has successfully completed its third Roadshow in Europe, a joint initiative with the Ministry of Tourism (MoT).
Usher Agro Limited through its 100% subsidiary Usher Worldwide FZE and Prime Trading LLC signed a Joint Venture Agreement with Al Mada Project Management Company and Sohar Food Cluster Company LLC for setting up rice and pulses storage, processing and packaging facility at Port of Sohar.
With effect from today, Lufthansa, the German airlines under the Lufthansa Group, has decided to stop flying to and from Oman, which according to the company sources, is part of optimising its portfolio and an effort to serve its customers across the region.
Total assets of conventional commercial banks increased by 14.7 per cent to OMR27.9 billion in August, compared to OMR24.3 billion a year ago, said the Central Bank of Oman (CBO). Of the total assets, credit disbursement accounted for 46.6 per cent and increased by 10.6 per cent as at the end of August 2015 to OMR18 billion.
Total value of real estate activity in the Sultanate surged ahead by 42 per cent to touch OMR3.22 billion for the first nine months of 2015, compared to the same period last year, the statistics released by the National Centre for Statistics and Information (NCSI) shows.
Despite being a small insurance market, the Gulf Cooperation Council (GCC) remains the fastest growing insurance region, outpacing all other markets with top line growth of close to 15% in 2014, says Moody’s Investors Service in a new report published today.
Remittances to India are projected to increase by 2.5 per cent this year, the World Bank has said in its latest report, even as weak economies in Europe, especially Russia, are slowing the growth of remittance flows.
The World Bank has said it is lowering its 2015 forecast for crude oil prices from 57 dollars per barrel in its July report to 52 dollars per barrel. This is according to the bank’s new Commodity Markets Outlook, a quarterly update on the state of the international commodity markets.