Category: News

News
PDO 1
PDO inaugurates solar car park

Petroleum Development Oman (PDO) today (3rd January) officially opened its first solar car park at its headquarters in Muscat. Thousands of solar panels were installed in car parks at Mina Al Fahal to provide power for PDO’s office buildings. The move will save more than 3.1 million cubic metres of gas a year, enough to […]

News
omanoil
His Majesty approves Oman’s 2018 budget

His Majesty Sultan Qaboos bin Said issued a Royal Decree approving Oman’s budget for 2018 on Monday. Royal Decree No. 1/2018, which endorsed a budget that centres around economic diversification, was ratified by His Majesty on January 1, 2018. According to the Oman News Agency, the total estimated revenues of the State Budget for 2018, […]

ECONOMY
soharport-
Oman’s trade volume stands at RO15bn

 The total volume of trade between Oman and its 10 main partners during 2016 amounted to OMR15.25 billion, representing 80.2 per cent of the total trade volume of Oman, with the surplus in trade balance for Oman reaching OMR466 million (not including refined oil). Data from the Department of Statistics in the Ministry of Commerce […]

News
CBO
CBO raises RO68.6mn through treasury bills

Oman’s central bank raised OMR68.6 million by way of allotting treasury bills on Tuesday. The treasury bills are for a maturity period of 28 days, from December 27 until January 24, 2018. The average accepted price reached 99.909 for every OMR100, and the minimum accepted price arrived at 99.895 per OMR100. Whereas the average discount […]

ECONOMY
soharport-
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. […]

News
Oman Refineries and Petroleum Industries Company (Orpic)
Oman’s refinery output rises 15 per cent

Total production of Oman’s refineries and petroleum industries units rose 14.6 per cent at the end of November 2017 compared to the output recorded during the same period of last year, according to statistics released by the National Centre for Statistics and Information (NCSI). The statistics showed that the production of regular grade petrol (Mogas […]

ECONOMY
CBO
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 […]

News
CBO
CBO urges caution about buying cryptocurrencies

The Central Bank of Oman (CBO) has said there are no policies or guidelines in Oman, to regulate digital or crypto currencies, urging the public to be cautious when dealing with such currencies. The central bank held its third meeting of the year on Monday. The meeting was chaired by H E Sultan bin Salim al Habsi, deputy chairman […]

News
Mysk Hotel
Golden Group opens Mysk Hotel at Al Mouj Muscat

The Golden Group Holding on Monday announced the opening of Mysk Hotel at Al Mouj Muscat under the auspices of His Highness Shihab bin Tariq Al Said, Advisor to His Majesty the Sultan and Chairman of The Research Council. Mysk by Shaza Kempinski is the first four-star hotel under Mysk brand in the Gulf region […]

News
lobby-at-crowne-plaza-hotel
Oman hotels’ revenues rise 1.6%

Total revenues of Oman’s three to five star hotels increased 1.6 per cent to RO135mn during the first nine months of 2017 compared to RO132.8mn in the same period of the previous year. Total number of guests reached 1,117,840 in the January–September period of this year from 1,145,025 guests in the same period of 2016, […]