By GIORGIO CAFIERO, BRETT SUDETIC The Sultanate of Oman has long held a strategy of maintaining diplomatic relations with Middle Eastern countries amid their periods of relative isolation. Since Sultan Qaboosâ ascendance to the throne in 1970, Muscat has never severed diplomatic relations with any country in the world. This is …
Read More »Omanâs 50th National Day: will Sultan Haitham bin Tarik start a new renaissance?
Omanâs 50th National Day marks a new beginning for the nation under Sultan Haitham bin Tarik, but the new ruler has a formidable task before him to emulate the success of his much-loved predecessor. Sultan Qaboos bin Said, who ruled Oman for 50 years, died at the age of 79 …
Read More »Israelâs Mossad chief visits UAE for security talks
Israelâs Mossad spy agency chief Yossi Cohen visited the UAE for security talks on Tuesday, only days after the countries agreed to establish diplomatic ties. The head of Israel’s foreign intelligence service discussed âcooperation in the fields of securityâ with the UAE’s national security advisor, Sheikh Tahnoun bin Zayed Al-Nahyan, …
Read More »UAE insists Israel deal not targeted at Iran, Israel extends welcomes to Saudi, Oman – UPDATED
The United Arab Emiratesâ agreement to normalise ties with Israel was a âsovereign decisionâ that was not directed at Iran, UAE minister of state for foreign affairs Anwar Gargash said on Monday. The UAE on Sunday said it had summoned Iranâs charge dâaffaires in Abu Dhabi and given him a …
Read More »Oil price plundge forces Arab, African petro-pegs
Oilâs $30 price plunge this week has sharply increased strains on a number of pegged currencies in energy-exporting emerging markets, above all in Nigeria and Oman where currencies have come under pressure in forward markets. The coronavirus threat to an already fragile global economy and an oil price war between …
Read More »Think Tanks Activity Summary
The Heritage Foundation says US-Oman relations must improve in 2020 with the new Sultan Haitham. They note, âThe United States and Oman share many geopolitical challenges and have had good relations dating back two centuries. Under the leadership of Sultan Haitham, U.S.âOmani relations will be entering a new chapter. The …
Read More »Saudi in defence talks with Oman
Saudi Arabiaâs vice minister of defense visited Oman on Monday and met with ruler Sultan Qaboos, Omani state news agency ONA reported, following a deal to end a power struggle in the south of Yemen. The Saudi defense ministry said Prince Khalid bin Salman, a son of the king, would …
Read More »Oman signs major oil and gas deals
Omanâs ministry of oil and gas has signed a gas exploration agreement with Italyâs Eni and BP Oman for concession block 77, the ministry said on its Twitter feed on Wednesday. The agreement involves seismic studies and the drilling of exploration wells and it is hoped this could also lead …
Read More »Omani FM in Iran to quell Gulf crisis
Omanâs minister responsible for foreign affairs held talks with Iranâs foreign minister on Saturday, Iranian state media reported, as tensions mount in the Gulf between Tehran and Washington. Oman maintains friendly ties with both the United States and Iran and has previously been a go-between for the two countries, which …
Read More »Oil, gas cooperation begins between Oman, Iraq
Iraq and Oman signed a memorandum of understanding to cooperate in the oil and gas sector, including the possibility of building a shared refinery in Oman for processing imported Iraqi crude, the Iraqi oil minister said in a statement on Thursday. Iraq will aim to export crude to Oman, according …
Read More »27th meeting of GCC Ministerial Committee for Planning and Development
The UAE participated in the 27th meeting of the Gulf Cooperation Council, GCC, Ministerial Committee for Planning and Development, which was held in the Omani capital, Muscat. The UAE delegation was headed by Eng. Mohamed Ahmed bin Abdulaziz Al Shehhi, Under-Secretary for Economic Affairs at the Ministry of Economy, and …
Read More »Russia defends Iran over tanker attack charge
Russia on Thursday warned against rushing to attribute blame for a suspected attack on oil tankers in the Gulf of Oman, and said the incident should not be used to stoke tensions with Tehran, Russiaâs RIA news agency reported. Two oil tankers were attacked, leaving one ablaze and both adrift, …
Read More »New wave of tankers hit, in Oman Gulf
Two oil tankers were hit in suspected attacks in the Gulf of Oman, shipping firms and industry sources said on Thursday, sending oil prices as much as 4% higher a month after four other tankers were damaged by limpet mines in the region. One of the tankers, the Front Altair, …
Read More »$4.61 billion Sharia compliant finance added to Oman refinary project
Omanâs Duqm Refinery said on Saturday it had signed a $4.61 billion multi-sourced Sharia compliant project financing agreement. âThe financing is provided by 29 reputed financial institutions from 13 countries; insurance and guarantees are provided by three major export credit agencies,â Duqm Refinery said in a Twitter post. The financing …
Read More »Oil surge makes DME Oman the worldâs costliest benchmark
A two-day surge turned a sludgy, sulphurous crude into the worldâs costliest oil benchmark this week, confounding traders and throwing the market into turmoil. Oman oil on the Dubai Mercantile Exchange, which will play a key role when Saudi Arabia sets the cost of its shipments to Asia next month, …
Read More »Oman government revenue grows by 23.2%
The Oman governmentâs revenue rose by 23.2 per cent to 4,091.9 million riyals (Dh39.08 billion) for the first five months of 2018, over the same period of last year, thanks to a major recovery in oil prices. As a result of a growth in oil prices, the net oil revenue …
Read More »Oil and gas sector provides over 5,000 jobs for Omanis
The number of jobs that have been specified by Omanâs oil and gas sector (5,000 jobs) has been exceeded in certain jobs, a top official at the Ministry of Oil and Gas, said. The drive is part of Omani government plans to provide jobs to nationals. On October 3, the …
Read More »Tristar Group opens new facilities in Abu Dhabi, Oman
Tristar Group has opened new transport and warehouse facilities in Abu Dhabi and Oman aimed at enhancing its integrated logistics services to the downstream oil industry in the GCC (Gulf Cooperation Council). The two new facilities are located in the Industrial City of Abu Dhabi and Rusayl Industrial Estate in …
Read More »Petrol, diesel in Delhi hit record highs
State-run Indian Oil Corp on Sunday raised transport fuel to record highs in Delhi on the seventh day of resuming the daily price change system, following a temporary suspension that lasted 20 days. The price of petrol in Delhi touched a record high of Rs 76.24 per litre under the …
Read More »A U-turn on Iran deal will hurt Omanâs economy
Omanâs economy received mixed marks from the International Monetary Fund (IMF) following a visit by a delegation as part of the Article IV process. On the one hand, the sultanate received much praise for demonstrating the required capability to cut the budget deficit. But there are concerns about the quite …
Read More »How Omanâs rocks could help save the planet
In the arid vastness of this corner of the Arabian Peninsula, out where goats and the occasional camel roam, rocks form the backdrop practically every way you look. But the stark outcrops and craggy ridges are more than just scenery. Some of these rocks are hard at work, naturally reacting …
Read More »The Return of Sufism to the UAE
By Haytham Mouzahem* The past two decades have witnessed a reemergence of Sufism in the Gulf states. The phenomenon may be understood, in part, as a reaction to the extremism of âSalafi jihadismâ: Gulf states opposed to the extremist strand have begun to welcome Sufi scholars from other Muslim countries …
Read More »Oman can defend its currency peg, central bank governor says
Oman has the means to maintain its currency peg and has no plans to change it even though the decline in oil prices has hurt its finances, central bank Governor Tahir Al Amri said. Omanâs gross foreign currency reserves, which stood at $19.6 billion (Dh71.9 billion) at the end of …
Read More »Fiscal reforms, geopolitics to pressure GCC corporate profits
The GCCâs non-financial corporate sector is expected to face pressure on profitability resulting from fiscal consolidation efforts in the current year and the next, according to ratings agency Moodyâs. âGGC governments have done fairly well in balancing reform implementation while preventing any systemic shock to the corporate sector. However, fiscal …
Read More »Oman focuses on sustainable tourism
With key tourism projects and infrastructure development, Omanâs Ministry of Tourism (MoT) is making significant efforts to enhance the countryâs offerings in the sector while emphasising on sustainable development. As a signatory to the United Nations Agenda 2030 for sustainable tourism development, Oman has adopted several measures to enhance tourism …
Read More »Nearly half UAE residents would give up social media for sleep
While most people in the UAE get an average of seven hours of sleep a night, around half would give up social media for an extra hour of sleep, a recent poll by furnishing retailer Ikea showed. Work stress, kids and distractions of technology came out on top when people …
Read More »Adnoc Distribution IPO to spur more listings in energy sector
The successful listing of Adnoc Distribution on Abu Dhabi bourse is likely to encourage more energy companies from the region to go public to raise capital as low oil prices hurt their revenues, according to analysts. Adnoc Distribution, the fuel and retail arm of Abu Dhabi National Oil Company (Adnoc) …
Read More »VAT implementation in Oman postponed until 2019
Omanâs Ministry of Finance has postponed the decision to implementation of Value-Added Tax (VAT) until 2019. The application of the selective tax on certain products will start by the middle of 2018, the ministry said. No further details have been given about the postponement by the Omani authoirites. In November, …
Read More »Omanâs economy seems to be in correction mode
Jasim Ali, Special to Gulf News The Omani economy is doing fine in the ongoing environment of continuing socioeconomic challenges. Whatâs more, multinational agencies are projecting improved performances in the medium-term for the sultanate on the assumption of stronger oil prices. Also, the preliminary projections for 2018 budget assume stronger …
Read More »Omanâs tourism sector witnesses rapid progress
With major projects such as the Oman Convention Bureau and the new Muscat International Airport nearing completion, the tourism and MICE (Meetings, Incentives, Conferences and Exhibitions) industries in Oman are set to undergo a major expansion in the coming years, according to the Sultanateâs Ministry of Tourism (MOT). In an …
Read More »GCC countries must pursue a gradual approach to fiscal consolidation: IMF
In the context of persistent low oil prices resulting in lower economic growth across the oil exporting countries, the GCC countries need to continue fiscal consolidation at a gradual phase, the International Monetary Fund (IMF) said in its latest Regional Economic Outlook. Lower oil prices have contributed to large fiscal …
Read More »Oman abandons bidding process for third mobile phone operator
Oman cancelled the bidding process to select its third mobile phone operator in favour of a group backed by its wealth funds, a month after delaying a decision on the licence. The Gulf stateâs third mobile operator will be run by a local company owned by the funds and a …
Read More »Dark Signs in the Persian Gulf
By Graham Fuller* — The political and economic assault against Qatar by a Saudi-led coalition so far shows no signs of succeeding in bending Qatar to its will. More seriously, it raises ominous signals for the future of geopolitics in the Arabian Peninsula. That future may have less to do …
Read More »Omani jailed for posting private pictures of girlfriend
THE LEVANT NEWS — Muscat: An Omani found guilty of posting revealing pictures of his girlfriend on Instagram was sentenced on Thursday to one month in jail and fined 2,000 Omani riyals, half of of which his ex-girlfriend would receive for compensation. The man posted the pictures to hurt his …
Read More »Is Saudi Arabia on a hazardous adventure?
The Levant News — by Ghassan Michel Rubeiz, Washington — At great risk, Saudi Arabia confronts Iran in rhetoric and on the battlefield in Syria and Yemen. The National Council on US-Arab Relations, NCUSAR, is an established Washington intercultural agency focused on Arab Gulf interests. This yearâs Iran meeting (October 14-15) was the 24th …
Read More »US Sends 6 Yemeni Prisoners from Guantanamo to Oman for Resettlement
Six Yemenis held for more than a decade at the U.S. military prison at Guantanamo have been flown to Oman for resettlement, the Pentagon said on 12 June, the latest step in President Barack Obama’s slow push to close the facility. The release came a week after Defense Secretary Ash …
Read More »Oman royal court says sultan in good health
THE LEVANT – Oman’s royal court sought to reassure the nation Thursday about the health of 73-year-old ruler Sultan Qaboos who has been undergoing treatment in Germany for almost three months. “The sultan is in good health and continuing to follow the medical treatment he has been prescribed and which …
Read More »Oman shares its experience of religious tolerance
THE LEVANT – Oman is sharing its experience of religious tolerance and co-existence among the followers of various faiths through a touring exhibition titled, “Oman’s Message of Islam”. The exhibition, organised by the Ministry of Endowments and Religious Affairs, is taking its message to Western countries, and is currently visiting England’s Cambridge University, …
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