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Economic News

Oman: Broadband services are central to growth
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With mobile penetration already well above 100%, the increasing popularity of high-speed mobile and fixed broadband is proving to be the key to growth in the Omani telecoms sector. Increasing operating costs and declining text usage are cutting into profits, however.Oman Telecommunications (Omantel) posted an increase in third-quarter net profit to OR28m ($72.51m), slightly higher than OR27.43m ($71.03m)…
Economic News

Oman: IMF pushes SME finance
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Having maintained 47th place on the World Bank’s latest global survey regarding the ease of doing business, Oman has benefitted from the strong capitalisation of local banks and reforms making it easier to register property and connect to the energy supply. However, the report identifies that small and medium-sized enterprises (SMEs) could benefit from improved access to credit and further reforms…
Economic News

Oman: Bringing supply in line with demand
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The value of real estate transactions in the sultanate increased by nearly 60% year-on-year in the first five months of 2012, hitting $2.1bn in that period, with the market displaying significant demand for industry- and logistics-related facilities as well as luxury residences.A third-quarter 2012 report released by real estate consultants Cluttons showed a major expansion in market activity for the…
Economic News

Oman: Industry flowing downstream
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Stepping up efforts to capitalise on its hydrocarbons wealth, Oman is boosting its downstream industrial capacity by expanding the petrochemicals sector and providing the fuel stocks needed to power other industries. However, the success of this programme still pins much of the country’s economic growth on its oil and gas resources.The petrochemicals industry is a sector Oman has identified as fitting…
Event

Oman EPC Projects

Oxford Business Group is pleased to announce its media partnership with Oman Energy, Procurement, Construction Projects 2012 which will be held on 8 – 10 October, in Oman. In this respect we send you the following message from the conference organisers: Dear Oxford Business Group Subscribers, REGISTER HERE The Sultanate’s first high-level networking event focusing on oil and gas EPC Projects Oman…
Event

Infra Oman 2012

Oxford Business Group is pleased to announce its media partnership with Infra Oman 2012 which will be held on 2 – 4 October, in Oman. In this respect we send you the following message from the conference organisers: Dear Oxford Business Group Subscribers,Infra Oman 2012Oman’s Second International Exhibition for Infrastructure and Industrial Projects In Co-Operation with Ministry of Transport &…
Economic News

Oman: Reeling in foreign investment
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In line with government plans to boost production and draw foreign investment to the aquaculture sector, Oman is encouraging foreign investors to take advantage of opportunities in fisheries and maritime exports.With some 1700 km of coastline providing a home to more than 150 species of fish and crustaceans, the Sultanate has long been the largest seafood supplier in the Gulf, having produced around…
Event

MEP Oman

Oxford Business Group is pleased to announce its media partnership with MEP Oman which will be held on 17 – 18 September, in Oman. In this respect we send you the following message from the conference organisers: Dear Oxford Business Group Subscribers, MEP Oman 2012 Date: 17-18 September Venue: Golden Tulip, Muscat, Oman Running concurrently with IMTEX Oman, MEP Oman 2012 will be the Sultanate’s…
Economic News

Oman: Building transport interconnectivity
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The government is banking on a multi-billon dollar investment programme to create a new transport grid that will serve as the backbone to Muscat’s plans to diversify and expand the economy, bringing the country’s many urban and economic centres closer together.Strengthening the transport infrastructure is one of the key priorities of the government, which is allocating $14.8bn under its eighth…
Economic News

Oman: Boosting employment through oil
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The Omani government is working to address unemployment by putting $1bn toward job creation after seeing higher-than-expected returns on oil in the first half of 2012.On August 12 the Ministry of Finance announced plans to put $1bn, mostly generated from the additional oil revenue, toward job creation in the Sultanate. It has not yet been specified whether these jobs will be created in the public or…