Category: Editor’s Pick

Editor's Pick
Banking sector credit in Oman grows by 6 per cent till June 2018

The several regulatory amendments issued recently by the Central Bank of Oman (CBO) enabled more space for banks to extend credit for stimulating economic activities in the Sultanate. The combined balance sheet of conventional and Islamic banks and windows (other depository corporations) indicate that the total outstanding credit extended by other depository corporations (ODCs) increased […]

Editor's Pick
Oman’s nominal GDP grew by 8.7% in 2017

The preliminary data for Sultanate’s national accounts indicate that nominal gross domestic product (GDP) grew by 8.7 per cent during 2017 as compared to a contraction of 3.0 per cent in 2016. The recovery in oil price since the second half of 2017 resulted in hydrocarbon sector growth at 20.8 per cent during the year […]

Editor's Pick
Setting new benchmark

Mahmood Mohamed Ali Al Jarwani, chairman Al Jarwani Group which develops the upcoming Mall of Muscat, Sohar China Downtown and WTC Muscat, believes that real estate investment has a promising future in the Sultanate in view of its potential in contributing to the national economy. Excerpts from an interview Can you give us a brief on […]

Winging its way forward

The recent opening of Oman’s most modern Muscat International Airport is expected to further strengthen the growth of aviation sector in the country Omani airports have achieved a robust growth in both passenger traffic and flight movement in 2017, which were in line with the three-pronged aviation strategy of the government. Reflecting the trend, the […]

Oman Oil Co, BP sign MoU to invest in human capital

  Oman Oil Company (OOC), the Sultanate’s investment arm in the energy and energy related sectors, and BP Exploration (EPSILON) Limited have signed a Memorandum of Understanding (MoU) to enable secondment opportunities between the two companies. The signing ceremony was attended by Eng Isam bin Saud al Zadjali, CEO of OOC and Yousuf al Ojaili, […]

Editor's Pick
Arabia Falcon Insurance shares offer opens for subscription

Arabia Falcon Insurance (AFIC), part of the region’s oldest insurance group - has announced the opening of its initial public offering (IPO) for public subscription. The IPO is open for subscription and  will close on April 2, 2018. Through its IPO, Arabia Falcon Insurance is offering 25mn shares at an offer price of 190 baiza […]

Editor's Pick
CBO issues treasury bills worth RO15mn

Oman’s central bank raised OMR15 million by way of allotting treasury bills on Tuesday. The treasury bills are for a maturity period of 182 days, from February 28 until August 29, 2018. The average accepted price reached 99.274 for every OMR100, and the minimum accepted price arrived at 99.265 per OMR100. Whereas the average discount […]

Editor's Pick
Port of Salalah begins ship to ship transfer services

 The Port of Salalah completed its first ship to ship transfer operation (STST) at Salalah anchorage recently as part of the port’s expanding service offering in 2018. The new service was performed by Fendercare Marine which transferred vegetable oil between the vessels NCC Nasma to Ariana while both were in the harbor anchorage. “Our vision […]

Industrial estates post strong growth in 2017

Oman’s industrialisation drive continues to witness massive expansion in the total number of leased areas, infrastructure projects, investments, number of projects and job opportunities in the industrial estates across the Sultanate, according to the Public Establishment for Industrial Estates (PEIE)’s latest report. The report highlights major achievements witnessed by the industrial estates that pertain to PEIE during […]

Editor's Pick
Oman’s oil production touches 30mn barrels

Oman’s crude oil and condensate production touched 29.97 million barrels in December 2017, which is an average of 966,952 barrels per day. Export of Oman crude in December 2017 touched 24.60 million barrels, or a daily average of 793,483 barrels, according to the monthly report released by the Ministry of Oil and Gas. Nine different […]