The Gross Domestic Product (GDP) of the country at current prices showed a robust 33.9 per cent growth in June 2010, which is against a fall of 25 per cent witnessed for the first half of 2009, an ONA report said yesterday.
The state-run news agency also said that the total net profit fell to RO183.6 million for the first nine months of 2010, from RO194.9 million posted for the same period last...
The total external and domestic debt of the country fell below RO900 million, which is only 4.2 per cent of the country's gross domestic product (GDP), said a senior official of the Ministry of National Economy.
"The Sultanate's debt-to-GDP ratio is one of the lowest in the world, according to a survey conducted by 'The Economist' recently," Abdul Malik bin Abdullah Al Hinai,...
Muscat Securities Market (MSM) will open the first day of its sixth annual MSM gathering at the Sultan Qaboos University (SQU) today, under the auspices of Dr Ali Al Bemani, vice-chancellor of the SQU and Yahya bin Said Al Jabri, executive president of the Capital Market Authority (CMA) and in cooperation with Sultan Qaboos University.
The forum will be open for two days, today and tomorrow, and...
Capital Intelligence (CI), the international credit rating agency, yesterday announced that it has raised Oman International Bank's (OIB) foreign currency long-term and short-term ratings to BBB+ and A2 respectively, from BBB and A3.
The rating upgrade reflects CI's increased confidence that government support for the local banking sector will be high in case of need. The support rating is...
An international financial expert has urged Arab banks to raise the ratio of lending to Small and Medium Enterprises (SMEs) in order to revitalise the economic movement in Arab countries which are largely driven by this sector.
According to a study conducted by the Union of Arab Banks in association with the World Bank on 'SMEs bank loans in the Middle East and North Africa', it has been revealed...
The Sultanate's total public expenditure touched RO94 billion during the last four decades, since the beginning of the Renaissance, said Ahmed bin Abdulnabi Macki, minister of national economy and deputy chairman of Financial Affairs and Energy Resources Council, yesterday.
Speaking on the occasion of the 40th National Day, the minister said that the state investment was mainly for developing...
As the world emerges from severe recession in decades, the desire of governments globally to rebalance their books and guard against future downturns has rarely been stronger. And, according to a new report from KPMG International, across the Middle East and South Asia (Mesa) region, all eyes are on taxation as a key component of the drive to create strong and stable economies.
The traditional...
A weaker dollar, to which most of the currencies of the Gulf are pegged, may force the region's states to appreciate their currencies, a top Arab monetary official said yesterday.
"Our region is not shielded against the impact of the currency war because our currencies are pegged to the dollar," Jassem Al Mannai, director general of the UAE-based Arab Monetary Fund told the Kuwait...
Mustafa Sultan Exchange launched the new electronic remittance service 'SBI NEFT', developed by the State Bank of India, enabling credit to customers' accounts within four to 24 hours.
The facility currently covers more than 70,000 branches of over 115 banks in India through NEFT platform. The service is now available at all 13 branches of the company spread across the Sultanate of Oman.
'...