August 3, 2015   English | عربي
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TODAY'S STORIES
July 28, 2015
Bank Muscat has won the ‘Best Investment Bank in Oman’ award by Global Finance.

Global Finance editors, with input from industry experts, used a series of criteria, including market share, number and size of deals, service and advice, structuring capabilities, innovation, pricing, after-market performance of underwritings and market reputation to select the best investment bank winners across the world, according to a press release.

AbdulRazak Ali Issa, Chief Executive, said: “Investment banking is a key focus area for the bank and we are proud of the...

PENTAX Europe GmbH Appoints Rainer Burkard President of Europe, Middle East and Africa Region (EMEA)
August 3, 2015

(ME NewsWire)-- PENTAX Europe GmbH, a division of HOYA Corporation, announced the appointment of Mr. Rainer Burkard to the position of President Europe, Middle East and Africa (EMEA) as of 1st August 2015. In this executive role, Rainer Burkard is responsible for leading all PENTAX Medical activities in the EMEA region.

“Rainer joins PENTAX Medical with valuable expertise gained from various"...

Oman hotel revenues in May exceed OMR87 million
August 3, 2015
The total number of guests of 3 to 5 star hotels reached 499,646 at the end of last May 2015 compared to 516,962 recorded during the same period of 2014, registering a decline rate of 3.3%.

The statistics issued by the National Centre for Statistics and Information (NCSI) about the main indicators of the 3-5 star hotels indicated that the total revenues of such hotels during last May logged a 1.5% decline compared to the revenues recorded during May 2014 to reach RO 87,308,000 compared to RO 88,650,000 recorded during the same period of 2014.

On the other hand, the occupancy rate...
Oman fish sales top OMR62.5m mark
August 3, 2015
Fish sales have been on the rise since the beginning of this year and remained so till the end of April, according to figures issued by the National Centre of Statistics and Information’s (NCSI) monthly statistical bulletin for July 2015.

Since the beginning of 2015 until the end of April, the total value of fish increased by 1.4 per cent to OMR 62.563 million, compared to OMR 61.683 million in the same period last year.

Al Wusta Governorate landed most fish by traditional fishery methods which contributed 22,323 tonnes, followed by Asharqiyah with 21,117 tonnes and Dhofar...

Oman’s exports plunge by 32.9 per cent on falling crude price
August 3, 2015
Oman’s total exports for the first four months of 2015 declined by 32.9 per cent to OMR4.53 billion from OMR6.76 billion for the same period last year.

The fall in export revenue was mainly on account of a plunge in oil and gas prices in international markets and re-exports. The average price of Oman Crude dipped by 43.7 per cent to $59.3 per barrel for the first half of this year from $105.38 a barrel for the same period of 2014.

As a result, exports of crude oil, petroleum products and liquefied natural gas plunged by 36.5 per cent to OMR2.83 billion in the first four-month...
Oman's budget deficit estimated at whopping OMR1.5b
August 3, 2015
Oman’s budget deficit for the first five months of this year surged ahead to OMR1,501.1 million, against a surplus of OMR232.9 million for the same period of 2014, mainly due to a plunge in oil prices, according to National Centre for Statistics and Information (NCSI). This is against a government target of OMR2.5 billion deficit for the whole of 2015.

The government’s total revenue dipped by 36.2 per cent to OMR3,858.1 million for the first five months, from OMR6,044.1 million for the same period of 2014, mainly on account of a drastic fall in oil revenue. Net oil revenue plunged...
359 electricity projects worth OMR232m approved last year
August 3, 2015
Three hundred fifty-nine projects with a total value of around OMR232million were approved by licensed operators last year to enhance the electricity network in Oman.

According to the annual report of the Authority for Electricity Regulation for 2014, the projects were approved by Oman Electricity Transmission Company (OETC), Muscat Electricity Distribution Company (MEDC), Majan Electricity Company,Mazoon Electricity Company,Rural Areas Electricity Company (RAEC) and Dhofar Power Company (DPC).

“OETC accounts for 52.5 per cent of approved projects by value, which reflects the...
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