Oman Financial Market Update

Oman's economy up 13.1% in 2007
Oman's nominal GDP rose 13.1% in 2007, reaching 15.5 billion Omani riyals ($40bn), according to an analysis by Kuwaiti think-tank Global Investment House. This marks the fourth consecutive year that Oman has maintained its significant growth, the report said. An increasing focus on non-oil sectors growth is playing a key role in driving the GDP growth, reported Gulf News.
Oman: Wednesday, May 07 - 2008 at 07:26

Oman economy grows to $40.3bn
Oman's economy minister Ahmad bin Abdul-Nabi Mekki said the country's gross domestic product probably grew to 15.51 billion rials ($40.29bn) at current prices in 2007, reported Reuters, citing the state-run Oman News Agency. Non-oil industries contributed 8.72 billion rials to the GDP, the minister said.
Oman: Wednesday, April 16 - 2008 at 10:25

Oman inflation surges 10%
Annual inflation in Oman has surged above 10% this year for the first time in at least 18 years, reported Reuters. The consumer price index was at 120 points on February 29, compared with 108 points a year earlier.
Oman: Monday, April 14 - 2008 at 09:57

Oman's non-oil exports exceed RO1 billion
Oman's non-oil exports exceeded one billion Omani riyals ($2.6bn) for the first time last year, according to the Oman Centre for Investment Promotion and Export Development. Ociped said non-oil shipments of Omani origin reached 1.3 billion Omani riyals in 2007, compared with 813 Omani riyals in the year before, an increase of nearly 60%.
Oman: Thursday, April 03 - 2008 at 09:25

Oman, Brunei to boost ties
The foreign ministries of Oman and Brunei agreed to increase ties between the two countries, reported Khaleej Times. At the 10th meeting of the Bilateral Consultation Group between the two countries, the two sides discussed the possibility of establishing joint ventures and exchanged views on the current developments in the regional and international arenas.
Oman: Thursday, February 28 - 2008 at 12:50 |

Iran to hold trade fair in Oman
Iran's first exclusive trade fair is to be held in Muscat, Oman from February 19 to 21, reported IRNA. Mashhad international exhibition center is to organizer Iran's fair in Oman. Manager of Mashhad International Trade Fair Ali Khaksar said Iran's exclusive trade fair will be held in an area of 1,200 square meters. The exhibition will help broaden ties between Iran and other Persian Gulf littoral states, Khaksar said. Iran's exclusive trade fair will also showcase various products such as hand-woven carpets, furniture, household appliance, foodstuffs, commercial services, tourism industry along with technical and engineering services.
Oman: Monday, February 18 - 2008 at 12:20

Oman inflation hits record
Omani inflation jumped to a record 8.3% in December, up from 7.6% in November, due to rising food and rent prices, reported Bloomberg. Food costs surged an annual 14.4%, up from 12.6% in November, while rents jumped 11.7%, compared with 11% a month earlier.
Oman: Tuesday, February 12 - 2008 at 07:31 |

Oman fights inflation
Oman's ruler ordered an increase of up to 43 per cent in state workers' wages, and a wheat subsidy to curb the impact of rising inflation, reported Gulf Daily News. The wage rise takes effect this month, it said, adding that the wheat price subsidy was 25 rials ($64.95) a tonne. Unable to raise interest rates due to their currencies' link to the weak US dollar, most Gulf states are opting for subsidies and price controls to cushion their populations from soaring prices.
Oman: Sunday, February 10 - 2008 at 12:54

New investment firm formed in Oman
A leading securities trading bank in Europe and the largest brokerage firm in Oman have formed a joint venture investment company that will be based in Muscat, reported Khaleej Times. The new Gulf Baader Capital Markets will be 70% owned by Oman's Gulf Investment Services, 25% owned by Baader Wertpapierhandelsbank of Germany, and 5% owned by Silver Circle Overseas. GIS, the Sultanate's top brokerage company in terms of trading volumes on the Muscat Securities Market, will cease operations as a result of the joint venture.
Oman: Sunday, January 20 - 2008 at 09:06

Dow Jones MSM Index launched
Dow Jones Indexes and Muscat Securities Market, the stock exchange in Oman, have launched the Dow Jones MSM Index. The index is a total-market index that measures the performance of all companies listed on the Muscat Securities Market. The index currently includes 66 stocks.
Oman: Tuesday, January 15 - 2008 at 09:14