US inflation inches closer to Federal Reserve goal

by Bloomberg News
WIDE RANGE OF OPTIONS: Costs will probably continue to rise as fuel expenses stabilise and a lack of apartments pushes up rents, one of the biggest categories. Photo: Bloomberg file
Core consumer-price index climbed 0.3 per cent, the biggest gain since January 2013, reflecting broad-based increases, a Labour Department report showed on Friday

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Opec seen protecting market share in fight with shale
All but one of the 34 analysts and traders surveyed by Bloomberg said the Opec will maintain its daily production target of 30 million barrels when it meets in Vienna on June 5.

China, India to be biggest shareholders in new bank
Asian Infrastructure Investment Bank said the meeting in Singapore finalised the articles of agreement, which are expected to be ready for signing by the end of June, but did not give details

State Bank of India’s profit beats estimates
Net income climbed 23 per cent from a year earlier to Rs37.4 billion ($589 million), or Rs5.01 a share, in the three months ended March 31, the Mumbai-based lender said

No need to start tapering quantitative easing: European Central Bank minutes
There was hence no need to consider any change in the monetary policy stance at present”, or to reconsider any of the parameters of the purchase programme, the minutes stated

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European Union scrutinises Greece bank plans as debt crisis drags on
Officials are looking at how to manage the failure of financial firms in Greece and other events that may cause widespread investor losses
Bank of Japan slightly more upbeat on economy, no need for more easing
Signalling its confidence the world’s third-largest economy is out of the doldrums, the central bank revised up its assessment on private consumption and housing investment
Montblanc to Apple: Our Swiss smartwatch will outlast yours
Montblanc has developed an electronic watchband for Swiss luxury timepieces that tracks steps, reads emails and even helps take selfies. Photo: Bloomberg file
HP to sell China unit stake for $2.3 billion
US tech giant said it would sell stake for $2.3 billion, creating a new business called H3C worth $4.5 billion that would be the leader in China in computer servers, storage and technology services
Lenovo’s annual revenue rises 20 per cent
World’s biggest personal computer maker, which is diversifying into the smartphone market, said revenue reached $46.30 billion for the year ending March 31.
Bank Dhofar issues debut Additional Tier 1 Capital Securities representing the first Bank Capital Issuance in Additional Tier 1 format from Oman
The transaction reflects Bank Dhofar’s debut transaction in the international debt markets as well as the country’s first USD-denominated Basel III-compliant Additional Tier 1 issuance.
OBALC closes financing facility for purchase of Oman Air's two new B737-900ER aircraft
OBALC is Oman’s first aircraft leasing company, specialising in the provision of tailored leasing, investment
OBALC in new leasing transaction with Oman Air for three new Boeing B737-900ER aircraft
The aircraft were previously ordered by the airline and the first delivery was completed on Wednesday.
Oman to set up four new solar power pilot projects
These four pilot projects are planned in different parts of the country — one each in Ibri, Sharqiya, Mudhaibi and Dhofar, said a senior official of Rural Areas Electricity Company
Italy seeks to broaden trade ties with Oman
Other fields of interest for bilateral collaboration are in water treatment and waste management sectors as well as sanitary equipment, Italian official said
Oman to maintain spending despite low oil prices
Government can comfortably finance deficits in the near term thanks to its sovereign wealth fund, strong credit standing, and low debt levels, latest update by National Bank of Kuwait show
Oman: BankDhofar bond issue closes
Bank added that pricing for AT1 perpetual bonds worth $300 million is set at a 6.85 per cent coupon and allocation has been made.
Petroleum Development Oman holds forum for small and medium enterprises
Workshop focused on the importance of training and Omanisation among SMEs to support PDO’s efforts to generate employment opportunities for Omanis.
Oman's share index edges higher
Wednesday’s top gainer was Global Financial Investment, up by 3.64 per cent, while Oman Textile Holding, down by 8.61 per cent, was the top loser for the day.
VIDEO: Raeco plans solar pilot projects in Oman & other stories

Police chase did not cause Oman accident which killed four, insists ROP
The source confirmed that the incident file will be forwarded to the public prosecutor to complete the investigation.
Saudi Arabia attack: Suicide bomber kills many in deadly attack on mosque in Eastern Province
An individual detonated a bomb he was wearing under his clothes during Friday prayers at Ali Ibn Abi Taleb mosque in Kudeih in Qatif province, the interior ministry spokesman said in a statement.
Abu Dhabi health authorities link Mers case to Oman
On Wednesday, Health Authority Abu Dhabi said a second person had been diagnosed with Mers, but declined to give further details.
Beat the heat in Oman with water sports
Oman's pristine beaches and crystal-clear waters have long been a draw for those who love the sea
Fasting to be challenge as days to be longer and hotter in Oman this Ramadan
A scholar in Oman has said that longer fasting hours will pass on smoothly with the recital of the Holy Quran during the Holy Month of Ramadan
Bangladesh Embassy in Oman sets up mobile units to issue machine readable passports
The Bangladesh government has given itself till the end of 2015 to ensure it issues all its citizens with machine readable passports.
Anniversary: Thailand junta detains student activists protesting against military rule
Activists staged small shows of defiance to mark the anniversary of the takeover. Soldiers detained seven students, some who held anti-coup signs, after they gathered in the city of Khon Khaen.
Social media for professional learning and growth
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Khalid Al Busaidi, the man behind lens at Royal Opera House Muscat throws light on his journey
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Parks in Muscat offer a cool respite from summer heat
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