Oman budget forecasts price of oil to average $55 per barrel over course of the yearman has approved a budget for 2023 and expects revenues of OR10.05bn ($26.1bn) in the year ahead.Oman’s Ministry of Finance made the estimation on the calculation that the average price of oil was calculated at $55 per barrel in 2023.The estimate is in line with the principle of hedging in accordance...Read More
Nazdahir, the National Program for Investment and Export Development, is working to intensify national efforts to attract investment and create a stimulating environment for investment and development of Omani exports.MUSCAT: Khalid bin Saeed Al Shuaibi, Head of the National Program for Investment and Export Development, Nazdahir, told ONA that the program aims to enable Oman to become a competitive destination for investment and an active business...Read More
The meeting was held at the UAE capital, Abu DhabiMUSCAT : His Majesty Sultan Haitham bin Tarik joined the meeting between a number of leaders of the Gulf Cooperation Council countries Jordan and Egypt, held at the UAE capital Abu Dhabi.Read More
Oman’s first corporate sukuk has received regulatory approval and the five-year, RO50m ($130m) private placement aims to close next month. It will be issued by Tilal Development Co and the proceeds will be used to repay existing debt and expand the Muscat Grand Mall. The sukuk, rated BBB by Capital Intelligence, will pay a five percent profit rate and use an ijara structure, a common...Read More
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