BUSINESS NEWS

Oman 7M budget deficit hits RO4bn, up 68% YoY

Oman 7M budget deficit hits RO4bn, up 68% YoY
Muscat - 

Oman’s budget shortfall widened further and crossed the RO4bn mark for January-July period of this year as government revenue continued to be hurt by weak oil prices.

Oman seeks to boost food output through more private investment

Oman seeks to boost food output through more private investment
Muscat - 

Oman is considering various steps to increase agriculture and fisheries production as part of its long-term goal to reduce reliance on food imports. The Ministry of Agriculture & Fisheries is to present a road map in this regard at a meeting of the Supreme Council for Planning next week.

Omantel named ‘Brand of the Year’ at World Branding Forum

Omantel named ‘Brand of the Year’ at World Branding Forum
Muscat - 

Omantel has been recognised as the ‘Brand of the Year’ by the World Branding Forum at the World Branding Awards.

Oman and Iran sign accord for cooperation in insurance sector

Oman and Iran sign accord for cooperation in insurance sector
Muscat - 

H E Sheikh Abdullah al Salmi, executive president of Oman’s Capital Market Authority (CMA)  signed a memorandum of understanding (MoU) with the president of the Central Authority of Insurance of Iran (Bema Markazi Iran), Dr Abdulnaser Himati, on the sidelines of the 16th session of the Oman-Iran Economic Committee, which met on September 26-27 in Tehran.

CMA issues quality norms for insurance

Muscat - 

The Capital Markey Authority (CMA) has issued guidelines for insurance services, which specify the minimum quality standards expected of insurance companies and brokers in the sultanate.

Bank Muscat’s Oryx wins ‘Best MENA Fund’ award

Muscat - 

The Oryx Fund, managed by the private equity and asset management division of Bank Muscat, the biggest fund manager in Oman with over US$2.1bn worth of assets under management, has once again won the prestigious 2016 Thomson Reuters Lipper Fund Award for the ‘Best MENA Fund’ based on its last three-year performance.

MSM30 declines on all-round weakness

Muscat - 

The MSM30 index fell 0.39 per cent to 5,726.16 on Wednesday. Trading activity deteriorated from the day before as turnover fell to RO3.05mn against 12.5mn shares traded.

Sultanate slips 4 rungs to 66th in WEF’s global competitiveness index ranking

Muscat - 

Oman ranked 66th in the Global Competitiveness Index 2016-17 rankings released by the World Economic Forum (WEF) on Tuesday, dropping four notches from the previous ranking.



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