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Oman
Banking & Finance
Omani banks’ net profits surge 18.6 percent to $1.17 billion in 2023
Favorable local indicators drive positive outcome
Banking & Finance
Oman Investment Authority introduces $5.2 billion fund to boost SME investments
Focus on green energy, tourism, and manufacturing sectors
Economy
Bank Muscat’s $390 million investment fund gets central bank nod
Investment portfolio includes several banks listed in GCC markets
Economy
Oman forecasts $1.7 billion 2024 budget deficit amid oil challenges
Budget gap prompts focus on economic diversification
Markets
Central Bank of Oman raises OMR29.45 mn through T-bills allotment
T-bills with a 28-day maturity were valued at OMR10 mn
Hospitality & Tourism
Revenues of Oman’s hotels surge, tourists to reach 3.5 million in ’23
Robust growth, increased occupancy rates, and record tourist arrivals
Economy
IMF: Oman’s economic recovery sustained by favorable oil prices
Inflation remains contained supported by constant reform
Oman
Four major companies forge blue hydrogen collaboration in Oman
Carbon capture to contribute 15 percent emissions reduction
Logistics
Oman targets OMR2.5 bn investment boost in transport and logistics
Oman’s ministry announces Best Practices Award in logistics sector
Economy
Oman’s credit rating raised by S&P to BB+ with a stable outlook
On higher crude prices and non-oil sector growth
Markets
Oman’s OQ IPO $771 mn IPO oversubscribed
Group announced in June a net profit of $1.1 bn
Economy
High oil prices help reduce Oman debt
Fitch upgrades country to 'BB+'
Economy
Lower oil related activities culprit behind Oman Q2, H1, GDP drop
Oman’s banking sector witnessed an 8.7 percent growth in credit and deposits
Economy
Oman’s economy estimated to expand by 2.5 percent this year
Non-oil sectors recorded a robust expansion of 4.6 percent
Oman
2022 sees Oman telecom sector attract millions in investments
5G stations totaled 2,600 by end of last year
Hospitality & Tourism
Oman’s 2022 tourism sector records 47 percent increase over 2021
Revenues reached OR1.9 bn while tourist arrivals hit 2.9 mn
Banking & Finance
Oman OQ to offer 49 percent stake in gas pipeline unit
It may turn out to be the largest in the history of the Sultanate
Oman
Oman to compete on crypto and smart tech in GCC
Homegrown startup establishing an 11 MW capacity pilot bitcoin mining site
Industry
Investing in Oman made easier: 2,700 investor residency cards issued to date
Enhancing flexibility and convenience for investors
Banking & Finance
Credit granted by Oman’s banking sector tops $52.4 bn
A 5.1 percent increase
Oman
Oman to build smart city accommodating 100,000 residents
Sultan Haitham City to incorporate smart technologies
Oman
Muscat-based Exahertz establishes Oman as blockchain hub
By 2024, Exahertz hopes to deploy 50,000 devices and servers across Oman
Economy
Oman achieves $1.7 billion surplus in H1, 2023
Gas revenues down 36% to June
Energy
Oxy Oman achieves record-breaking production in Oman’s Block 65
Production reached 6,000 barrels of oil equivalent (BOE) per day
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