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News2020-06-16T14:03:29+04:00
  • SMEs continue to support national economy

    Government institutions awarded RO38mn in tenders and procurement to small and medium enterprises registered with the Public Authority for Small and Medium Enterprises Development (Riyada), in 2019, representing 6.74% of the total spending in government tenders and procurement that were executed that year. Out of

1606, 2020

Omans logistics sector gallops on digital transformation drive

Oman Logistics Center (OLC) is leading the digital transformation of the logistics sector in the sultanate through implementing innovative and smart solutions while adopting best international practice. OLC’s success in 2019 has continued into 2020 with expanded services and additional support made available through an online web portal and mobile app. Only last month, OLC formally announced The MEA Hub

1606, 2020

DME trades crude above US$40 per barrel

Benchmark Oman crude oil trading on the Dubai Mercantile Exchange traded above US$40 per barrel on Monday, for the first time in almost three months, making it the first internationally traded crude oil futures contract to break the US$40/b mark since the oil price recovery started in early May. Front-month August DME Oman traded at a high of US$40.09/b, up

1606, 2020

Oman’s GDP growth in 2021 will be highest in last four years

World Bank (WB) expects the sultanate’s Gross Domestic Product (GDP) to grow by 2 per cent in 2021 compared to a contraction of 4 per cent in 2020 due to the implications of COVID-19 pandemic and low oil prices. In its June Global Economic Prospects report, WB pointed out that the sultanate’s GDP growth in 2021 will be the highest