Gulf State Business

Economists have cut growth forecasts for most of countries of the Gulf as non-oil business activity slows because of government austerity measures.

Published in Saudi Arabia

Files from the mid-1980s covering a business deal in Oman involving Mark Thatcher will now be kept secret for decades, the Cabinet Office has decided.

Published in Oman

Oman has raised $2.5 billion in a bond sale arranged by five international banks to help meet its budget deficit resulting from low oil prices.

Published in Oman

Mohammad Ali was released as part of general amnesty in connection with the Ramzan month.

Published in Oman

The economic slowdown gripping countries across the Persian Gulf can be seen in layoffs, slowed construction projects and government cutbacks. For the millions of foreign workers drawn by brighter job prospects, it can have a far-darker side if they find themselves deep in debt.

Published in Qatar

Nama Group, the holding company grouping all of Oman’s state-owned electricity transmission, distribution and related power sector entities, says it plans to conclude a study on the proposed privatisation of its subsidiary, Muscat Electricity Distribution Company (MEDC), by the end of this year.

Published in Oman

Oman Power and Water Procurement Co (OPWP) signed a number of agreements to establish two independent power plants in Ibri and Sohar.

Published in Oman

Oman’s budget deficit as per cent of gross domestic product (GDP) will remain unchanged at 17.1 per cent this year, despite cut in subsidies and capital investment, a senior official of the International Monetary Fund (IMF) said.

Published in Oman

Petroleum Development Oman (PDO), the nation’s top energy producer, is targeting savings in excess of $900 million over the next five years through the implementation of a slew of far-reaching cost-cutting and waste elimination strategies.

Published in Oman

Oman’s conventional and Islamic financial institutions have achieved a robust 12.45 per cent (or OMR2.27 billion) growth in credit at OMR20.54 billion for the 12-month period ending February this year.

Published in Oman

Petroleum Development Oman (PDO) says the contribution of its Enhanced Oil Recovery (EOR) projects has been scaled down from around one-third of the company’s total crude production to 25 per cent — a revision it linked to the current downturn brought on by the slump in international oil prices.

Published in Oman

The government of Oman has chosen five banks to arrange the sultanate's first international bond issue in almost 20 years, sources aware of the matter said on Thursday.

Published in Oman

Omani writer Abdulla Habib, who said at the 2014 Muscat International Book Fair, “Young writers today have huge potential and a great platform in social media,” was arrested and detained six days ago, on April 15, apparently for Facebook posts:

Published in Oman

On a stretch of barren coast 550 km (345 miles) south of the capital Muscat, workers at a ship repair yard swarm over cargo vessels from around the world, labor that will help to determine Oman's fate in an era of cheap oil.

Published in Oman
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