Oman

Bank Muscat’s $390 million investment fund gets central bank nod

Investment portfolio includes several banks listed in GCC markets

Oman forecasts $1.7 billion 2024 budget deficit amid oil challenges

Budget gap prompts focus on economic diversification

Central Bank of Oman raises OMR29.45 mn through T-bills allotment

T-bills with a 28-day maturity were valued at OMR10 mn

Revenues of Oman’s hotels surge, tourists to reach 3.5 million in ’23

Robust growth, increased occupancy rates, and record tourist arrivals

IMF: Oman’s economic recovery sustained by favorable oil prices

Inflation remains contained supported by constant reform

Four major companies forge blue hydrogen collaboration in Oman

Carbon capture to contribute 15 percent emissions reduction

Oman targets OMR2.5 bn investment boost in transport and logistics

Oman’s ministry announces Best Practices Award in logistics sector

Oman’s credit rating raised by S&P to BB+ with a stable outlook

On higher crude prices and non-oil sector growth

Oman’s OQ IPO $771 mn IPO oversubscribed

Group announced in June a net profit of $1.1 bn

High oil prices help reduce Oman debt

Fitch upgrades country to 'BB+'

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

Oman’s economy estimated to expand by 2.5 percent this year

Non-oil sectors recorded a robust expansion of 4.6 percent

2022 sees Oman telecom sector attract millions in investments

5G stations totaled 2,600 by end of last year

Oman’s 2022 tourism sector records 47 percent increase over 2021

Revenues reached OR1.9 bn while tourist arrivals hit 2.9 mn

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 to compete on crypto and smart tech in GCC

Homegrown startup establishing an 11 MW capacity pilot bitcoin mining site

Oman to build smart city accommodating 100,000 residents

Sultan Haitham City to incorporate smart technologies

Muscat-based Exahertz establishes Oman as blockchain hub

By 2024, Exahertz hopes to deploy 50,000 devices and servers across Oman

Oxy Oman achieves record-breaking production in Oman’s Block 65

Production reached 6,000 barrels of oil equivalent (BOE) per day