The Sultanate recorded a whopping 166% year-on-year increase in the production of regular (90) petrol during the first two months of the current year with output surging to 1.03 million barrels compared with 388,100 barrels produced last year, according to the latest data released by the National Centre for Statistics and Information (NCSI).
Global economic recovery is still “too slow” and “too fragile” in the face of growing risks from a slowdown in China and subdued growth in developing economies, International Monetary Fund chief Christine Lagarde (pictured) said on Tuesday.
Majid Al Futtaim, the leading shopping mall, retail and leisure pioneer across the Middle East and North Africa, today announced an additional redevelopment project for City Centre Qurum – a retail expansion worth almost OMR 5 million, to host Centrepoint, the multi-brand retail concept of Landmark Group as well as additional car parking spaces.
The new offering will allow Oman’s residents to rent their very own one, two or three bedroom fully furnished and equipped dream vacation home and make use of the exclusive five-star lifestyle experiences, while enjoying unobstructed marina, sea or mountain views.
Bank Muscat najahi has won the Best SME Product in Oman Award by Banker Middle East in recognition of strengthening the role of micro and small businesses in diversifying the Sultanate’s economy and creating job opportunities for Omani youth.
The total passenger traffic (including transit & transfer passengers) through Muscat International Airport increased by 20% to 1,924,815 passengers during February 2016 compared to 1,597,660 passengers for the same period of 2015.
Meethaq, the pioneer of Islamic banking in Oman from Bank Muscat, hosted Hussain Jawad Al Lawati, Chairman of W.J Towell Group, at the ninth Majlis Meethaq evening, a unique social forum aimed at facilitating interaction with prominent personalities sharing inspirational aspects of their life and career as well as views and perspective on the economy and important social and cultural issues.
Persistently low oil prices continue to pressure the funding environment for banks across the Gulf Cooperation Council (GCC) countries, says Moody’s Investors Service in a report published today.
Experts from the Indosuez Wealth Management has said that the low oil prices could be an impetus for change and reforms across the hydrocarbon-based economies of the GCC region.
The Central Bank of Oman’s (CBO) Board of Governors concluded its 1st meeting of 2016. The meeting was chaired by Dr. Ali bin Mohammed bin Moosa, Deputy Chairman of the CBO’s Board of Governors.