Oman’s nominal gross domestic product fell 14.2 per cent to OMR13.552 billion from OMR15.791 billion for the same period last year as weak crude prices took a toll on the oil sector.
According to Standard and Poor’s Ratings Services, the fast-growing Islamic finance industry is set to slow down next year over the sharp fall in oil revenues and rapid regulatory changes.
Dunes Industries held a VIP ceremony this week to celebrate the opening of its new hot-dip galvanizing plant at SOHAR Freezone. His Excellency Dr Ahmed Mohammed Salem Al Futaisi, Minister of Transport and Communications, was the guest of honour at the event, with a ribbon cutting ceremony to declare the state-of-the-art facility open for business after a 12-month development phase.
Introduced in 1990 as a 1991 model, Explorer featured generous interior space customers were looking for, and was engineered specifically for people seeking adventure for their families and a way to express their individuality.
Bank Muscat, the flagship financial services provider in the Sultanate, in step with its ‘Let’s Do More’ vision and commitment to partnership in women empowerment initiatives, celebrated the Omani Women’s Day with a series of activities.
Oman recorded the lowest inflation rate at 0.07 per cent in August among Gulf Cooperation Council (GCC) states. The highest inflation rate was recorded in the United Arab Emirates at 4.94 per cent in August, against the same period last year.
The Boeing 787 Dreamliner is an all-new, super-efficient family of commercial airplanes that brings big-jet ranges and speed to the middle of the market. In response to airlines’ overwhelming preference, Boeing designed the 787 family with superior efficiency, which allows airlines to profitably open new routes to fly people directly where they’d like to go in exceptional comfort.
Oman’s crude oil and condensates production edged up 0.12 per cent to 29.70 million barrels in September 2015, over the previous month. This is equivalent to an average of 990,030 barrels per day.