Business


Venezuela backs Opec cut as oil glut builds; prices fall

by Bloomberg News
Photo - Bloomberg
“Venezuela wants to see production cuts and a higher price,” Bjarne Schieldrop, chief commodities analyst at Oslo-based SEB

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Tenders floated to develop Duqm port infrastructure
Tenders are for facilities at the customs area, internal roads, two helipads, earthworks, potable water network, sewerage network, pump stations and street lighting

HSBC to refund customers for excessive fees in Oman, four other Middle East countries
HSBC's actions affected customers in the UAR, Egypt, Oman, Bahrain and Lebanon, the spokeswoman said, declining to say how much it was refunding

Rentals in Sharjah continue to face upward pressure
During the third quarter, rents across Sharjah increased by 5.3 per cent, in comparison to a 5.7 per cent rise in the second quarter.



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Financial Affairs Council has decided to raise sale price of natural gas for all the existing industries and industrial estates in Oman, said Al Maha Ceramics Company in a disclosure statement
Al Jenaibi posts solid growth in Rolls-Royce sales in Oman
This sustained 46 per cent growth is a further indication of Rolls-Royce’s position in Oman as a leader both in luxury and automotive excellence
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Proposal to raise royalty fee of telecom and mining firms, a rise in natural gas prices and re-looking subsidies on petroleum products are all part of a major initiative to increase revenue
GlassPoint examines economics of steam generation
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