HSBC has cut jobs in its retail and commercial banking units in the UAE as the bank prepares for lower growth in the Gulf Arab state next year, a source familiar with the matter said on Monday.
Majlis Al Shura hosted Darwish bin Ismail Al Balushi, Minister Responsible for Financial Affairs, Deputy Chairman of the Financial Affairs and Energy Resources Council, Dr. Ali bin Masud Al Sunaidy, Minister of Commerce and Industry, Deputy Chairman of the Supreme Council for Planning, and Sultan bin Salim Al Habsi, Secretary General of the Supreme Council for Planning, to discuss 2016 draft budget and draft 9th five-year plan (2016-2020).
Credit rating agency Standard & Poor’s has downgraded Oman’s sovereign debt in a sign of growing pressure on the finances of some Gulf Arab oil exporters.
Market capitalisation of bonds and sukuk traded on the Muscat Securities Market (MSM) has crossed OMR1.8 billion, reflecting a continuation of the growth the bourse achieved over this year after listing the first OMR250 million worth of sovereign sukuk issued by the Sultanate’s Government.
Celebrating the ‘Year of the SUV’, Mercedes-Benz Oman released three stunning new additions to its all-star line-up.
Bank Muscat, the flagship financial services provider in the Sultanate, as part of its ‘Let’s Do More’ vision and commitment to partnership in sustainable development, extended support to the 3rd Business Opportunities Forum organized by Oman Chamber of Commerce and Industry under the auspices of HH Sayyid Haitham bin Tareq Al Said, Minister of Heritage and Culture. The 2-day event held at Oman International Exhibition Centre highlighted the investment opportunities in Oman.
Total traded value of real estate activity in the Sultanate reached OMR3,420.1 million by the end of October, reflecting a 40.7 per cent rise, compared with the same period in 2014, data from the National Centre for Statistics and Information (NCSI) revealed.