Saturday , April 21 2018
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Oman

Omani Sudani business officials hold trade talks in Khartoum

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MUSCAT: A series of top-level B2B meetings began in Khartoum, Sudan between Omani exporters and Sudanese businesses, on Wednesday. Led by Ithraa, Oman’s inward investment and export development agency, a 15-member strong delegation of exporters are meeting with importers and distributors. ‘The trade mission is about increasing the profile of Oman in Sudan and developing trade and business opportunities across ... Read More »

Oman needs $9bn in power sector investment by 2022

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MUSCAT: The rising electricity demand will require Oman’s power generation capacity to grow at an annual rate of 8.5 per cent over the next five years and the sultanate will need to add 4GW of capacity by 2022, involving an investment of US$9bn, according to Arab Petroleum Investment Corporation (APICORP). APICORP, the multilateral development bank focused on the energy sector, ... Read More »

Ripple effect of hidden trade hits Oman’s economy

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MUSCAT:  Oman’s labour market that needs to be addressed, according to Shahswar Al Balushi, CEO of Oman Society of Contractors, reported the Times of Oman. Hidden trade occurs when an Omani has a company, which he doesn’t actually run, operate or finance, and an expat does and uses the commercial registration against a fee. Al Balushi added that hidden trade ... Read More »

Oman’s ministry patents low cost renewable energy device

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MUSCAT: Oman’s Ministry of Commerce and Industry recently patented a device that uses water molecules to produce energy, providing a low-cost and accessible source of renewable energy. Duha bin Jamal Al Barwani, patent holder of the new invention, said, “The device was invented to provide an economical and clean method of producing energy using common resources.” “I learnt to register ... Read More »

Oil rebound to help Omani banks asset and deposit growth this year

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MUSCAT: Oman’s economy on the back of the rising oil prices will support stronger deposit and asset growth this year for the sultanate’s lenders, who also stand to benefit from a rise in interest rates, BMI Research said. Higher prices of hydrocarbons, sale of which accounts for the bulk of revenues for the government, will help add liquidity into the ... Read More »

Duqm projects to ignite new opportunities for Oman Shipping

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MUSCAT: Oman Shipping Company (OSC), the nation’s principal marine transportation services provider, is keenly eyeing opportunities associated with multibillion dollar investments in a mega refinery and proposed petrochemicals cluster planned in Duqm Special Economic Zone (SEZ). Duqm, positioned as the new national growth pole, has the potential to drive new business growth for the state-owned shipping line — part of ASYAD ... Read More »

Omani cargo plans start with a village

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MUSCAT: The venture was first suggested by Tanfeedh (the national programme for enhancing economic diversification) and is one of 16 related investments and initiatives by the Omani Government to create a logistics-centric economy in the sultanate. The air cargo village’s facilities will include warehouses, freight-forwarding and cargo-handling, customs and inspection areas, and distribution. Specialist-handling areas for perishables, pharmaceuticals, live animals ... Read More »

Tobacco ads banned in Oman

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 MUSCAT: The advertising of tobacco and its derivatives on social media and billboards has now been officially banned, according to a decision by the Ministry of Information. Minister of Information Dr. Abdel Mon’em Al Hassani has issued a decree No. 43/2018, banning the advertising of tobacco across all media outlets, including social media and billboards. The decree replaces the text ... Read More »

Demo day held for Omani tech start-ups

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MUSCAT:  Oman Technology Fund’s (OTF) investment programmes, on Wednesday, held a demo day in Knowledge Oasis, Muscat (KOM), for 10 start-ups who have joined a three-month training programme. The participant companies joined intensive training programmes in Oman and abroad in cooperation with National Digital Research Centre (NDRC). They received support and guidance in both tech and commercial fields dealing with ... Read More »

Muscat Municipality warns against damaging roads

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MUSCAT: The Muscat Municipality has revealed the top three issues it faces while maintaining public roads and spaces of the governorate. In a recent report, the authority detailed that it regularly deals with vandalised street lights, illegally installed speed bumps, and damage to public roads. All the aforementioned acts are in violation of the municipality’s rules and regulations, each resulting ... Read More »

Britain accounts for 46 per cent of foreign investments in Oman

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MUSCAT: The UK’s special relationship with Oman is blooming and business is booming, according to the new British ambassador. In his first interview since taking up the post, and speaking exclusively to Times of Oman, Hamish Cowell said UK Export Finance (UKEF), the United Kingdom’s export credit agency, is underwriting several billion pounds worth of loans to British companies to ... Read More »

Oman economy to maintain growth trajectory in 2018

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MUSCAT: The performance of the economy came up for review at a meeting of the Supreme Council for Planning (SCP) held under the chair of Dr. Ali bin Mas’oud Al Sunaidi, Minister of Commerce and Industry, Deputy Chairman of the SCP. The Council also reviewed launching activities of “All Oman” within the projects of the Vision to visit the governorates ... Read More »

Oman non oil export jump 28% in first 10 month of 2017

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MUSCAT : Oman’s non-oil exports grew more than 28 per cent in the first ten months of 2017 as the demand for Omani products sharply increased in neighbouring countries such as Qatar and Saudi Arabia. Total value of non-oil exports hit RO2.6bn during January – October period of 2017 compared to RO2bn in the same period of the previous year, ... Read More »

Muscat airport opens new passenger terminal

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MUSCAT: Muscat International Airport announced that its new passenger terminal had officially opened. The new facility has been designed to attract more passengers, while also enhancing the airport’s services. In addition, the new terminal is anticipated to create more jobs, boost the economy and increase overall tourism into Oman. “The whole nation has eagerly awaited the opening of the new ... Read More »

Oman’s economy to accelerate in 2018-19 on energy exports

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MUSCAT: Economic growth in Oman is expected to accelerate this year and next, as the biggest Middle Eastern oil producer outside Opec boosts oil and gas exports, BMI Research said. Real gross domestic product – GDP adjusted for inflation – is projected to expand by 3.2 per cent in 2018 and 3.6 per cent in 2019, from an estimated 0.6 ... Read More »

HSBC bank Oman celebrate 70 years in Oman

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MUSCAT: Celebrating 70 years of supporting Oman’s economic growth and development is the focus of a series of roadshows launched this week at HSBC Bank Oman’s branches across the country to mark the bank’s milestone anniversary with customers and staff. The nationwide programme will showcase the succession of achievements that have been marked by both HSBC Bank Oman and by ... Read More »

17 arrested on drug charges in Oman

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MUSCAT: Seventeen (17) individuals have been arrested on narcotics charges in Oman, with 700 packets of khat seized, according to a statement from the Royal Oman Police (ROP). A source at the ROP revealed, “Anti-narcotics officers managed to arrest 17 suspects for smuggling, possession and abuse of drugs in the governorates of Al Dakhiliyah, Dhofar and North Batinah, in cooperation ... Read More »

Oman’s oil production touches 27m barrels

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MUSCAT: Oman’s crude oil and condensate production for February 2018 reached 27,075,580 barrels, with a daily average of 966,985 barrels, according to the monthly report issued by the Ministry of Oil and Gas. The total exported quantities of Oman’s Crude Oil in February 2018 amounted to nearly 22,814,105 barrels, with a daily average of some 814,789 barrels, which is a ... Read More »

Oman oil production topped 27,000 barrels in February

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MUSCAT: The monthly report issued by the Ministry of Oil and Gas indicated that the Sultanate’s production of Crude Oil and Condensate during the month of February 2018 reached (27,075,580) barrels, with a daily average of (966,985) barrels. While the total exported quantities of Oman Crude Oil in February 2018 amounted to (22,814,105) barrels, with a daily average of (814,789) ... Read More »

Oman oil production topped 27,000 barrels in February

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MUSCAT: The Omani Crude Oil imported by the People’s Republic of China dropped by 2.37% compared with January 2018, bringing China’s share to 73.74% of the total exported quantities of Omani Crude Oil in February 2018. On the other hand, India’s imports of Omani crude leaped by 5.97% in comparison with last month position. It is worth mentioning that this ... Read More »