RIYADH: Oman’s inflation rate increased by 0.2 percent in March compared to the same month in 2023, driven by a rise in prices of food and beverages, an official analysis showed. Citing data from the National Center for Statistics and Information, the Oman News Agency reported that food and non-alcoholic beverage expenses increased by 3.4 … Read more
RIYADH: Oman’s top five ports saw a 1.5 percent annual increase in cargo handling in 2023, surpassing 93.2 million tonnes, underscoring their growing significance in maritime trade. The terminals of Sultan Qaboos, Salalah Sohar and Khasab as well as Shinas, and A’Suwaiq handled approximately 91.8 million tonnes of general, liquid, and bulk cargo in 2022, … Read more
RIYADH: Carbon markets are set to play a pivotal role in achieving climate goals, with efforts from Saudi Arabia and the UAE, paving the way for a smooth energy transition. According to a new report from the International Energy Forum, carbon markets are capable of effectively lowering the costs associated with greenhouse gas removal by … Read more
RIYADH: Oman’s general inflation index remained stable at 105.3 in February compared to the same period in 2023, according to the latest official data. The data from the National Center of Statistics and Information also highlighted that the inflation rate had decreased to 0.0 percent in February compared to 1.8 percent recorded in the corresponding … Read more
RIYADH: The Central Bank of Oman’s total foreign assets increased by 0.1 percent, reaching 6.73 million Omani rials ($17.49 million) as of Dec. 31, 2023, compared to the same period the previous year. The rise in foreign asset figures enhances liquidity to meet balance of payments needs and provides a level of fiscal security against … Read more
RIYADH: The Saudi Cabinet recently approved regulations for the country’s tourism authority that will give a fresh impetus to the sector and contribute to its overall growth. The Cabinet, chaired by King Salman, approved 24 regulations concerning the Saudi Tourism Authority with a focus on global promotion, international and regional collaboration and tourists targets. The … Read more
SAO PAULO: Saudi Arabia is in overdrive to diversify its economy away from oil by exploring all available opportunities available domestically and abroad. This very quest took Saudi Investment Minister Khalid Al-Falih to several nations in Latin America between July and August 2023. The aim of the tour was to explore avenues for economic cooperation. The … Read more
RIYADH: Oman’s residential real estate market witnessed a notable surge, with residential land prices leading the overall index to a 2.5 percent increase in the third quarter of 2023, according to the National Center for Statistics and Information. The latest data released by the NCSI revealed a 7.1 percent growth in the residential land price … Read more