Continued low oil prices could have an increasingly negative impact on banks across the Gulf Cooperation Council (GCC), according to Moody’s Investors Service in a report published today.
The Sultanate’s petrol production in January posted a 12.9% fall year-on-year, with output shrinking to 6.07 million barrels as against 6.97 million barrels last year, according to the latest data released by the National Centre for Statistics and Information (NCSI). The total petrol output last year stood at 85.96 million bbl.
Meethaq, the pioneer of Islamic banking in Oman from Bank Muscat, as part of its commitment to raise awareness on Islamic banking and finance, organised a lecture on ‘Financial Planning – Islamic & Social Aspects’ by Sheikh Salim bin Ali Al Namani, Lecturer and Mentoring Expert at Sultan Qaboos University.
Top oil exporters Russia and Saudi Arabia agreed on Tuesday to freeze output levels but said the deal was contingent on other producers joining in – a major sticking point with Iran absent from the talks and determined to raise production.
The MENA Region is expected to witness a 3.8% growth in GDP in 2016, revealed an Al Masah Capital Limited Report titled ‘MENA Yearbook – 2016’.
The current slowdown in the UAE real estate market should be seen as a minor correction as opposed to a major crash, according to a Middle East property expert.
The Sultanate’s total crude oil and condensates production in January 2016 declined by 0.05 per cent against December 2015 to touch 31,198,660 barrels, which is equivalent to 1,006,408 barrels per day.
The International Air Transport Association (IATA) announced global passenger traffic results for 2015 showing demand (revenue passenger kilometers or RPKs) rose 6.5% for the full year compared to 2014.
Bank Nizwa successfully provided over 700 training and development opportunities in 2015 designed to nurture the next generation of Islamic Banking leaders.
According to new U.S. Government data analyzed by the National U.S.-Arab Chamber of Commerce (NUSACC), exports of U.S. goods to the Middle East and North Africa (MENA) region fell in 2015 to $67.4 billion from $71.4 billion in 2014, a decline of 5.6 percent. This is the first time since 2010 that sales of U.S. […]