Oman

Oman real estate deals rise 5.4 percent to $5 billion by August 2024

The traded value of real estate sales contracts in Oman reached OMR716.1 million by end of August 2024

Saudi Arabia, Oman sign MoU to advance economic resilience and green initiatives

This MoU is designed to facilitate cooperation through the sharing of information, expertise, and research

Oman LNG inks 4-year sales, purchase agreement with Japanese Kansai Electric Power

Agreement encompasses the offtake of 0.4 million metric tons per annum of LNG from Oman LNG for four years starting in 2026

Oman’s public state revenues rise to $20.78 billion in August 2024 on oil revenue surge

Current public revenues reached OMR2.2 billion, down from OMR2.334 billion during the same period in 2023

UAE-Oman Hafeet Rail project signs $1.5 billion bank financing deals

A single freight train journey is expected to transport over 15,000 tons of cargo, equivalent to about 270 standard containers 

Oman Central Bank issues treasury bills worth $117 million

Interest rate on repurchase operations with the central bank (repo) on these bills is 5.50 percent

S&P raises Oman’s credit rating to ‘BBB-’ with stable outlook

The Omani government, along with many state-owned enterprises (SOEs), is continuing to deleverage its balance sheet

Mastercard, Amazon Payment Services to enable digital payment acceptance across Middle East and Africa

The payment service provider will use Mastercard Gateway for quick, seamless, and secure transactions in the region

SMEs in Oman’s reach over 141,000 in June 2024

The number of micro enterprises exceeded 120,000, while the number of small enterprises crossed 19,000

Oman, Saudi Arabia trade exchange exceeds $2.63 billion in June 2024

Saudi Arabia's direct investments in Oman reached $314.63 million, up from $209.41 million in 2021

Oman launches national AI program to boost tech contributions to national economy

Program features various initiatives and projects that keep pace with global developments in the sector

Oman-China trade exceeds $27 billion in 2023, enhancing economic ties and investment opportunities: OCCI

Al Saadi pointed out that the private sectors in both nations are crucial to driving mutual partnerships 

Oman’s merchandise exports grow 6.7 percent to $30.32 billion in June 2024

The value of Oman's crude oil exports amounted to OMR5.134 billion, recording an increase of 7.2 percent

Non-hydrocarbon sectors poised to drive strong GCC economic growth this year: Report

Deal-making in the region remained active, with 214 transactions recorded in H1 2024

Oman’s producer prices rise 3.3 percent in Q2 2024

Oman saw a softer increase in producer prices in the manufacturing industries group

Oman Central Bank issues treasury bills worth $77.93 million

The bills have a maturity period of 28 days amounted to OMR300,000, with an average acceptable price of OMR99.650 

Oman’s Salalah Free Zone draws $11.95 billion in investment by June 2024

In H1 2024, the Salalah Free Zone added 13 projects in frankincense, packaging, air conditioning, and textiles

Oman signs agreement to expand oil, gas exploration in Al Dhahirah Governorate concession

Agreement facilitates the expansion of production rates through the resources of the 1,389 square km area

Moody’s upgrades Oman’s outlook to positive, citing improved debt metrics and strong fiscal management

The agency also retained its (P)Ba1 rating for the Government of Oman’s senior unsecured medium-term note program

UAE oil imports to Japan reach 31.07 million barrels in July 2024, 49.1 percent of total

Arab oil made up 97.8 percent of Japan's imports, totaling 61.92 million barrels

Oman’s real estate transactions hit $4.41 billion by end of July 2024, up 6.4 percent

The total value of sales contracts reached OMR631.3 million during this period

GCC listed banks post record $14.8 billion net profit in Q2 2024

Year-over-year, the growth was robust at 9.2 percent compared to Q2 2023

Passenger traffic at Oman’s airports rises 9.2 percent to 8.5 million in July

Number of passengers traveling through Oman's Muscat International Airport reached 7,571,148 by the end of July 2024