August 29, 2015   English | عربي
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August 29, 2015
The number of travellers who passed through the Muscat and Salalah international airports till the end of July recorded an increase of 11.8 per cent and 19.5 per cent, respectively, compared to the figures in the same period in 2014.

There were 6,246,329 passengers travelling through the two airports during the same period, according to initial data released by the National Centre for Statistics and Information (NCSI).

The number of travellers passing through Muscat International Airport till July, including transfer and transit passengers, increased to 5,707,270 on 53,483 flights.

There...
August 29, 2015
The Arab Monetary Fund (AMF), in cooperation with the Central Bank of Oman (CBO), will organise a joint training session in macroeconomic management and financial sector issues on Sunday.

The session will run till September 10.

The International Monetary Fund’s Middle East Centre for Economics and Finance (CEF) will take part in the training session.

The training session will be held under the patronage of HE Hamoud Bin Sangour Al Zadjali, CBO Executive President.

It will be attended by about 40 economic and administrative officials from the central...

Oman committed to currency peg despite cheap oil, says central bank chief
August 29, 2015

Oman is committed to maintaining the peg of its currency against the US dollar despite the drop of oil prices, according to a Reuters news agency report.

"We are committed to keeping the Omani rial pegged to the U.S. dollar," central bank executive president Hamood Sangour Al Zadjali. He did not elaborate.

The plunge of oil prices since mid-2014 has put heavy pressure on Oman's state budget, causing one-year dollar/rial forwards to rise as high as 1,000 points this week, their highest since 2006, as some investors"...

Oman’s economic growth may slow to 3 per cent this year
August 29, 2015
Oman’s economic growth is projected to slow to around 3 per cent over 2015-2016 period, down from the 4.9 per cent average between 2005 and 2014, international rating agency Moody’s Investor Service has said in a report.

The decline in economic growth projection is mainly due to pressure on revenue amid multi-year low oil price scenario. Crude oil revenue accounted for 48 per cent of nominal gross domestic product (GDP) on average between 2005 and 2014.

Moody's also projected that Oman would report substantial fiscal deficits in 2015 and 2016, at around 12 per cent of...
Oman Tank Terminal Company launches floating storage facility in Oman
August 29, 2015
A new floating storage facility, with a 2.1 million barrel capacity at Mina Al Fahal, for global customers of Oman Export Blend, was launched on Thursday by Oman Tank Terminal Company (OTTCO), a subsidiary of Oman Oil Company (OOC).

Three customers — China Oil, Glencore and Oman Trading International (OTI) — have won bids for access to the facility on board a Very Large Crude Carrier (VLCC), which will be provided and operated by Oman Shipping Company (OSC).

OTTCO’s floating storage facility, which was initiated and supported by Oman’s Ministry of Oil &...

Floating storage facility opens at Mina al Fahal
August 29, 2015
Oman Tank Terminal Company (OTTCO), a subsidiary of Oman Oil Company (OOC), has announced the launch of a new floating storage facility, with a 2.1 million barrel capacity at Mina al Fahal, for global customers of Oman Export Blend. The launch took place on Thursday.

Three customers — China Oil, Glencore and Oman Trading International (OTI) — have won bids for access to the facility on board a Very Large Crude Carrier (VLCC), which will be provided and operated by Oman Shipping Company (OSC).

OTTCO’s floating"...
Oman oil gains $2.42 on DME
August 29, 2015
The Oman crude oil futures ended $2.42 higher at $46.57 per barrel on the Dubai Mercantile Exchange on Friday. It hit a high of $ 49.59 per barrel and a low of 46.28 per barrel during intra day trade.

The crude ended the day with on the positive side with a gain of 1.74 per cent.
On Thursday, Oman crude oil price (October delivery) reached $44.15 per barrel.

Meanwhile, global crude slid on Friday at the end of a tumultuous week, during which prices hit 6.5-year lows on fears over China’s slowing but then rebounded on"...
15 GUtech students study German language and culture at RWTH Aachen University – GUtech’s partner-university – The course is fully sponsored by the German Academic Exchange Service / DAAD
August 29, 2015
A group of 15 Omani and international students of the German University of Technology in Oman (GUtech) is currently attending a three weeks Language and Culture Course at GUtech’s partner-university RWTH Aachen University (Germany). The entire course is funded by the German Academic Exchange Service (DAAD), and has been conducted on an annual basis since 2008.

The culture and language programme includes a German language and intercultural training course at RWTH’s language center in the mornings as well"...

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