At a time of uncertainty created by the precipitous fall in oil prices and oversupply, the International Energy Agency (IEA) said on Monday that prices could go up from mid-2016 with supplies tightening due to a drop in investment and falling US output.
Oil swung between gains and losses near the lowest closing price in almost four weeks as investors weighed a slowing pace of United States drilling-rig reductions against an interest rate cut in China.
Al Jenaibi International Automobiles, the official BMW Group importer in Oman, invited customers to the launch of the 6th generation BMW 7 Series, marking the occasion with an eventful evening at the iconic Royal Opera House in Muscat.
Frankfurt, Germany, is set to become one of the first destinations for Oman Air’s iconic new Boeing 787 Dreamliners when they enter service this autumn. Oman Air’s Chief Executive Officer, Paul Gregorowitsch, has announced that the aircraft will begin flying daily between Muscat and Frankfurt from October 25th 2015.
Meethaq, the pioneer of Islamic banking in Oman from Bank Muscat, hosted the sixth 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.
With effect from today, Lufthansa, the German airlines under the Lufthansa Group, has decided to stop flying to and from Oman, which according to the company sources, is part of optimising its portfolio and an effort to serve its customers across the region.
Total assets of conventional commercial banks increased by 14.7 per cent to OMR27.9 billion in August, compared to OMR24.3 billion a year ago, said the Central Bank of Oman (CBO). Of the total assets, credit disbursement accounted for 46.6 per cent and increased by 10.6 per cent as at the end of August 2015 to OMR18 billion.
Total value of real estate activity in the Sultanate surged ahead by 42 per cent to touch OMR3.22 billion for the first nine months of 2015, compared to the same period last year, the statistics released by the National Centre for Statistics and Information (NCSI) shows.
Despite being a small insurance market, the Gulf Cooperation Council (GCC) remains the fastest growing insurance region, outpacing all other markets with top line growth of close to 15% in 2014, says Moody's Investors Service in a new report published today.