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OER Business Summit 2016 held in Muscat on Wednesday made a renewed plea for economic diversification in tourism and other sectors, dismantling the sponsorship system for SMEs with partnership model besides regulating the labour market to attract investors to ease the impact of declining oil prices. Organised by Oman Economic Review (OER), the Sultanate’s premium business magazine, and held under the theme ‘The Diversification Imperative,’ the Summit included paper presentations by experts and incisive panel discussions on the imperative of diversification for the Sultanate’s economy.
According to a recent Bloomberg report, Qatar’s sovereign wealth fund is undergoing its biggest overhaul since 2014, grouping $100 billion of investments in local companies into a new unit and abandoning the Qatar Holding name synonymous with its highest-profile deals.
Moody’s expects Oman’s current account balance to deteriorate further in 2016 and to register a deficit of 24% of GDP because of the fall in oil exports. Oman’s dependence on oil and gas exports will remain high, above 50% of total exports.
Sustained profit taking dragged down the MSM30 Index by 0.51 per cent to end the session at 5,948.56 points. The MSM Sharia Index closed at 887.32 points, up by 0.05 per cent. OIFC was the most active in terms of volume while Oman Cables led in terms of turnover.
As stated in the World Bank’s Global Economic Prospects report, the global growth disappointed again in 2015, and is expected to recover at a slower pace than previously forecast. “More than 40 per cent of the world’s poor live in the developing countries where growth slowed in 2015,”… said World Bank group president Jim Yong Kim. Growth fell short of expectations in 2015, to 2.4 per cent, from 2.6 per cent in 2014.
Building on existing strong trade and investment ties, a top-flight delegation led by the Public Authority for Investment Promotion and Export Development (Ithraa), Oman’s inward investment and export development agency, will head for Paris next week to conduct a three-day Invest in Oman Roadshow.
Oman’s nominal GDP - gross domestic product at market prices - fell sharply in 2015 with lower oil prices taking the lion’s share of the blame.
The Tender Board on Wednesday held its 4th meeting for 2016 under the chairmanship of Dr. Rasheed bin Al Safi al-Huraibi, Chairman of the Tender Board. During the meeting, the Board awarded RO 42,004,808 worth tenders for the following projects:
Abdulrahman Salim Al Hatmi, Group CEO, ASYAD talks about the Sultanate of Oman Logistics Strategy 2040 and its efforts in achieving the enshrined goals. Mayank Singh reports What is ASYAD’s mandate and vision as Oman’s leading logistics group and what has been achieved in pursuance of these objectives? ASYAD has two primary mandates; the first is […]
Oman’s Minister of Commerce and Industry, HE Ali bin Masud Al Sunaidy and his Indian counterpart Suresh Prabhu reiterate their commitment to boost bilateral trade and enhance cooperation between the two countries in multiple sectors
Maqbool Al Wahaibi, CEO, Oman Data Park & Mazen Matar, GM- Cloud Services, Oman Data Park talk about company’s exemplary services in running and operating three data centers in tier-three category, serving nine leading banks in the country, along with 500 plus enterprises and customers in various sectors.
OER Finance & HR Summit 2018 held at Intercontinental Muscat on May 2, explored the new imperatives on the interface between finance and HR
Leader’s SpeakView all
If you can get a job done yesterday, then, and only then can you work with Elon Musk, founder, and CEO of both Tesla and SpaceX. For someone who is into making rockets and cars, wouldn’t his speed of work be like lightning? Musk is also the co-founder and chairman of an artificial intelligence research, non-profit […]