Business


Lower crude price may reduce production cost, says official

by ELHAM POURMOHAMMADI
Salim Nasser Said Al Aufi said that current low oil prices will not affect any of the ongoing projects under the control of the Ministry of Oil and Gas. – A. R. RAJKUMAR/Times of Oman
If oil prices continue to fall, providers of various services in this sector, such as drilling, logistics and supply of chemicals, will have to reduce their costs, says undersecretary in the Ministry

read more
Occidental Oman inks agreements with two SMEs
The programme was launched in December 2013 in support of the Sultanate’s In-Country Value (ICV) initiative. Oxy Oman is already supporting three SMEs, according to Oxy

Central Bank of Oman chief to head team at GCC meet
Executive president of the Central Bank of Oman will head Oman's delegation at the 60th meeting of the Monetary Authorities and Central Banks Committee of GCC to be held in Kuwait

ahlibank posts 6 per cent growth in net profit at OMR19 million
Bank’s financial results reflect growth in the key areas in line with the bank’s business plan and an increase in core earnings

Deloitte Oman calls for robust implementation of IFRS standards
A top Deloitte Middle East official pointed out to the significant developments and key changes to applicable standards of International Financial Reporting Standards


More in Business
Oman stocks gain again
Al Sharqia Investment was the top gainer, closing up by 9.47 per cent, while Al Omaniya Financial, which declined by 1.79 per cent, lost the most
Middle Eastern equity issuance touches $5.1 billion
Middle Eastern equity and equity-related issuance during the first nine months of 2014 totalled $5.1 billion, a 43 per cent increase in activity from the same period in 2013 says Thomson Reuters surve
Emirates NBD profit jumps as non-interest income rises
Net income jumped to Dh1.56 billion compared to Dh776 million a year earlier
No plans to cut expenditure next year, says ministry undersecretary
Oman depends heavily on oil revenues that make up 83 per cent of its income. Oman Crude is trading at $84 per barrel now, which is considered low for estimating budget revenue
Global companies eye slice of Oman’s infrastructure pie
Senior officials of the embassies which have represented at Infra Oman 2014 said that their countries can contribute a lot to infrastructure development in the Sultanate
Oil & Gas sector plays key role in Oman’s economy
The sector is also supporting the development of small and medium enterprises and fostering innovation and human resource development
National Business Centre inks pacts to aid start-ups
Al Salama Fire Engineering Consultancy and Abraj Mirbat Safety Services signed the two agreements on Tuesday
Oman Oil eyes Occidental’s local assets
Oman Oil Company CEO said a previous proposal for a joint regional move (of Oman, UAE and Qatar) to buy the Middle East assets of Occidental has been scrapped
Oman stocks in green zone
Al Sharqia Investment was the top gainer, closing up by 8.33 per cent, while Construction Materials, which declined 1.96 per cent, lost the most.
Thai economy showing signs of stagnation, says minister
Thai finance minister said the country has high liquidity, adding that wealthy people are hesitant to invest as they are concerned that the economic recovery may drag on
Oman’s banks get extension to comply with funding of SMEs
Banks have been given a one-year extension to comply with a stipulation to provide a minimum of 5 per cent of their total commercial loan to small and medium enterprises
Call for local companies to raise standards, use new technologies
Mohsin bin Mohammed Al Shaikh, chairman of the Muscat Municipality, urged local companies to play a greater role in the infrastructure development projects in the country
Oman’s exports drop 9.6 per cent to OMR10 billion
The fall is due to a decrease in the value of oil and gas exports by 9.7 per cent, declining from OMR7.3 billion exported in the first half of 2013 compared to OMR6.6 billion in the same period of 201
Oman stocks decline marginally
Al Anwar Ceramic was the top gainer, closing up by 1.16 per cent, while National Gas which dropped by 9.15 per cent, lost the most
Microsoft names new general manager for Oman, Bahrain
Sherif will be driving the new Microsoft global vision of ‘mobile first, cloud first’ to a diverse audience of enterprise customers, partners, IT professionals, developers and consumers

POPULAR IN TIMES
Two-year visa ban ‘hits hiring of skilled personnel’
Workers and companies have mostly reacted adversely to the two-year visa ban on expatriates
Weathermen keeping an eye on Arabian Sea cloud formation
Weathermen all over the world are closely watching the movement of a huge trail of clouds that are forming over the Arabian Sea
Dip in number of expat workers in Oman
The number of expatriate workers is 1,541,430 by the end of August 2014, a drop of 3,236 workers when compared with the July 2014 figures
Movie Review: Chennai Express
SRK unleashes all his charm and experience over the years into his character and comes up with a winning performance
Accused sentenced to death by UAE court for killing Omani
According to The National newspaper “the Criminal Court had previously convicted two of the defendants, cousins N D and M D and sentenced them to death. A third cousin, H?D, was cleared”
No need to quit to apply for public sector jobs in Oman
Earlier, Omani private sector staff had to resign and wait for a year to be eligible to apply for a government job
Big demand for Oman Air’s Manila, Jakarta seats
Oman Air is experiencing unexpectedly high demand for seats on two new routes that are due to be launched in December
Private sector to be made more attractive for Omanis
To be ready by next year, the amended Labour Law has features aimed at reducing the flight of Omani workers from the private sector
Crimean-Congo Hemorrhagic Fever: Oman starts drive against ticks
More than 25 teams are conducting the epidemic survey for Congo fever. The teams are conducting physical examination of animals
Two-year visa ban to stay in Oman for expats
The rule banning re-employment of expats on their return is still in force and no missive has been received from the cabinet or any other authorities for its suspension
6 Comments
New service tax on remittance upsets Indians in Oman
It is surprising that when many countries are offering incentives for legal fund transfers, India is imposing tax
5 Comments
Read those riders carefully before buying cheap air ticket: Oman's Public Authority of Consumer Protection
Before you buy the ‘cheapest air tickets’ you must read the conditions carefully as you could lose money
3 Comments
Movie Review: Chennai Express
SRK unleashes all his charm and experience over the years into his character and comes up with a winning performance
3 Comments
In Oman now register domain, website in your name: Telecommunications Regulatory Authority
Individuals can now register a website or a domain in their name, the Telecommunications Regulatory Authority (TRA) announced on Monday
1 Comments
New App used for teaching Mathematics and Geosciences at GUtech
This app was developed by a team of Computer Scientists and Engineers at GUtech’s parent-university, RWTH Aachen University in Germany.
1 Comments
How to fulfill a poor child's needs in Oman?
It was an embarrassing moment and a humiliating one, too. Everybody with small children would relate to such an incident
1 Comments
New service tax on remittance upsets Indians in Oman
It is surprising that when many countries are offering incentives for legal fund transfers, India is imposing tax
5 Comments
Two-year visa ban to stay in Oman for expats
The rule banning re-employment of expats on their return is still in force and no missive has been received from the cabinet or any other authorities for its suspension
6 Comments
In Oman now register domain, website in your name: Telecommunications Regulatory Authority
Individuals can now register a website or a domain in their name, the Telecommunications Regulatory Authority (TRA) announced on Monday
1 Comments
How to fulfill a poor child's needs in Oman?
It was an embarrassing moment and a humiliating one, too. Everybody with small children would relate to such an incident
1 Comments
New App used for teaching Mathematics and Geosciences at GUtech
This app was developed by a team of Computer Scientists and Engineers at GUtech’s parent-university, RWTH Aachen University in Germany.
1 Comments
Read those riders carefully before buying cheap air ticket: Oman's Public Authority of Consumer Protection
Before you buy the ‘cheapest air tickets’ you must read the conditions carefully as you could lose money
3 Comments
Sunday Beat: Is rapid Omanisation driving away the needed expat talent?
With a lot of restrictions on issuance of new employment visas, new opportunities are being claimed entirely by Omanis but this looks good only on paper
1 Comments
Five drown at Yiti beach near Muscat; Two missing at Mughsayl beach in Salalah
Four members of a Pakistani family drowned at Yiti beach while an Indian expatriate from Kerala died at the same beach when he banged his head against a rock while diving
1 Comments
Movie Review: Chennai Express
SRK unleashes all his charm and experience over the years into his character and comes up with a winning performance
3 Comments




LATEST IN TIMES