Category: INDUSTRY

Banking & Finance
BankDhofar receives award at OER Finance Summit

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).

OABC- Social Media Panel Discussion
OABC panel discusses the business of social media

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.

Team Oman Convention & Exhbition Centre & the Ministry of Tourism at Ritz Carlton Berlin, Germany
Oman convention centre generates European interest

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).

Lufthansa ends Muscat operations from today

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.

Banking & Finance
Assets of commercial banks increase by 14.7%

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.

Real estate activity in Oman rises to OMR3.22 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.

GCC insurance market poised for further growth

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.

World Bank revises oil price forecast to $52

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.