The banking sector in Oman is starting to play a bigger role in the Middle East’s financial services market, with foreign investment bringing more business to the expanding industry The Muttrah …
Oman bank loans up on higher corporate lending
Outstanding bank loans in Oman rose 8.4 percent year on year to OR34.1 billion ($88.3 billion) in the first six months of 2025, thanks to a surge in corporate lending. Figures released by the Central …
Oman’s second-quarter budget deficit hit $673 million on lower oil prices
Oman recorded a budget deficit of 259 million Omani rials ($673 million) in the second quarter, swinging from a surplus of 391 million rials a year earlier, as revenue slumped on the back of lower oil …
Oman’s second-quarter budget deficit hit $673 million on lower oil prices
Oman recorded a budget deficit of 259 million Omani rials ($673 million) in the second quarter, swinging from a surplus of 391 million rials a year earlier, as revenue slumped on the back of lower oil …
IFC loans $250 million for Oman polysilicon project
The investment package features a $200 million loan for the implementation of the project and a $50 million preferred equity investment. The approval is said to have been opposed by several members of …
From souq bargaining to mobile taps: Rethinking money in Oman
Oman’s cashless era is here. Mobile wallets are transforming how people shop, save, and send money from the souq to their smartphones. However, as transactions become faster and easier, the real …
Oman’s 2025 salary law: What every employer needs to do before the September deadline
Discover the essential requirements of Oman’s Wage Protection System as the new salary law mandates employers to comply before the September 2025 deadline, ensuring timely wage payments for workers.
Iran’s navy launches country’s first military drill since 12-day war with Israel
Iran has launched its first military exercise since its 12-day war with Israel. State television reported that navy vessels would fire missiles at sea targets in the Gulf of Oman and the Indian Ocean on Thursday.
Oman aims to boost investments with golden visa scheme and new business incentives
Oman is aiming to boost investment into the country with schemes including a golden residency programme, digital registration options and incentives for high-performing Omani companies.The sultanate’s …
Oman’s real estate breaks records: The Arc at Yiti sells most expensive penthouse for over OMR 2 million
In a landmark moment for Oman’s property market, The Arc at The Sustainable City – Yiti has shattered national records with the sale of a penthouse priced at over OMR 2 million ($5.2 million). This …