author - oman observer

Well-known retail, commercial, office and residential landmarks are among a geographically diverse portfolio of 20 properties that form part of the Oman REIT Fund, which opened for public subscription...

Oman’s production of polyethylene and polypropylene — two key polymer-based commodities with wide application in an extensive array for products of everyday use — rises to over 1.5 million...

CORPORATE OVERHAUL: OQ8 is an amalgam of the brands of the two joint venture partners OQ and Q8 Duqm Refinery, the Sultanate’s biggest industrial investment — a $7-billion venture under...

Strong recovery: Real GDP at market prices is projected to grow 7.9pc in 2022 – the fastest among 16 countries surveyed in the Middle East and North Africa region The Sultanate’s real GDP at...

Water demand: Dhofar’s first Independent Water Project nearing completion The developers of the first Independent Water Project (IWP) in Dhofar Governorate are preparing to shortly bring the...

Zero-rated for VAT: The Tax Authority’s Decision 2/2021 on the Determination of Food Items subject to VAT came into effect on January 11 following its publication in the Official Gazette More...

MIXED BAG: Investors are pinning their hopes on a sustained market recovery this year following what has been a challenging 2020 for the MSM Boding well for an uptick in the performance of the Muscat...

The Sultanate’s authorities, led by the Ministry of Finance, have outlined a slew of measures aimed at reining in the country’s sizable public debt, which is projected to reach RO 21.7 billion by...

KEY FEATURE: Guidance issued by the Tax Authority on Wednesday envisions a one-year timeframe, spanning the April 2021 to April 2022 period, for the phased implementation of VAT based on the annual...

Local Omani bank Sohar International has revealed that it has exposure to the tune of RO 6.5 million to the Omani joint venture partner of Drake & Scull International (DSI), a UAE-based construction...

Oman’s 2021 General Budget, replete with bold but judicious measures to drive fiscal sustainability amid a severe economic crunch, sets the tone for the implementation of the road map for achieving...

The Omani government’s Partnership for Development (PfD) programme — also known as ‘Offset’ — received new impetus in the 2021 State Budget with a string of new projects slated for...

SUBSIDY REFORMS: The allocation towards electricity subsidy alone falls to RO 500 million for this year, as opposed to RO 610 m in 2020 A strident effort by the Omani government to roll back...

KEY PILLARS: Manufacturing & Industries, Transport & Logistics, Tourism, Fisheries, Mining, and Education will play a pivotal role in helping deliver real GDP growth targeted at the rate of 3.5 pc per...

A chronological listing of key milestones, events and developments of significance to Oman’s business and economic landscape during an eventful year roiled by the devastating effects of a global...

In one of its first official responsibilities since it was formally established by Royal Decree last month, Energy Development Oman (EDO) has been tasked with, among other things, raising an estimated...

Oman’s Tax Authority has announced an extension of the deadline for multinational entities (MNEs) operating in the Sultanate to file their notifications under Country by Country Reporting (CbCR)...

A chronological listing of key milestones, events and developments of significance to Oman’s business and economic landscape during an eventful year roiled by the devastating effects of a global...

The Central Bank of Oman (CBO) has cautioned commercial banks in the Sultanate that any reluctance to lend amid concerns of loan defaults linked to the ongoing pandemic would only slow the pace of...

Around 33 projects and initiatives, involving investments totalling in excess of $2.5 billion, are currently available for local and international investment across the Sultanate. A list of these...