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Oman could be accepting advance payment for its oil in order to curb its budget deficit and debt as the government is challenged by a significant budget deficit gap expected to continue increasing due to the low oil prices. Sources Read more
Oman’s sovereign debt has been downgraded by the Standard and Poor’s (S&P) rating agency from A- to a BBB+ citing a negative outlook because “the government’s fiscal and external positions could deteriorate beyond our current expectations over the next two Read more
Spokesman Rajeh Badi of the Yemeni based Riyadh government led by President Hadi has hinted that there are ongoing talks between the Houthi Movement and the U.S in Oman. The agenda of the meeting seems to be unclear to Badi Read more
Oman and Iran inked an agreement to demarcate the maritime boundaries they share in the Sea of Oman during the visit of Iranian Foreign Affairs Minister Javad Zarif. The visiting minister said the agreement will make ties between the two Read more
A privatization spree will be kicking off in Oman by next year after the warnings in June from the International Monetary Fund (IMF) to reduce state spending. The finances of the Sultanate face risks of unsustainability. The government has more Read more
The fourth meeting of the Omani-Italian Joint Committee ended with the signing of two documents, with the ambitions of strengthening their bilateral relations in Muscat, Oman. Both parties urged their business community to take advantage of the cordial relationship to Read more
A report published by Economist Intelligence Unit has stated that Dubai is expected to become MENA’s most competitive city by 2025 and 23rd globally. The Hot Spots 2025: Benchmarking the Future Competitiveness of Cities report, commissioned by Citi, claims that Read more
Plans are in the pipeline for the launching of an Initial Public Offering (OPI) by the Al Izz Islamic bank in Oman. At present, the bank is under formation and it will be the second Islamic bank in the Sultanate. Read more