Oman: National Bank Of Oman posts flat Q2 net profit

UNWTO: International tourism – strongest half-year results since 2010

2017/09/09 Destinations worldwide welcomed 598 million international tourists in the initial six months of 2017, some 36 million additional than in the same period of 2016. At 6%, increase was well above the trend of recent years, making the current January-June period the strongest half-year since 2010. Visitor numbers reported by destinations around the world reflect strong request for international travel in the initial half of 2017, according to the new UNWTO World Tourism Barometer. Worldwide, international tourist arrivals (overnight visitors) increased by 6% compared to the same six-month period last year, well above the sustained and consistent trend of 4% or higher increase since 2010. This represents the strongest half-year in seven years.

Demographics and reforms expected to benefit Oman’s real estate sector

2017/08/01 While real estate transaction figures continue to reflect a additional cautious macroeconomic environment, potential reforms could pave the way for Oman’s property market to regain some of its dynamism going forward. The price of property traded in the sultanate between January and June this year fell by 69.9% year-on-time(y-o-y) to OR1.4bn ($3.6bn), according statistics released by the government’s National Centre for Statistics and Data (NCSI). Over the same period the traded price of mortgage contracts fell by 80.7% to OR797.7m ($2.1bn), while the number of sales contracts eased by 23.9% to 30,635.

First-quarter figures show increase in money supply at Oman’s banks

2017/06/30 Central Bank of Oman (CBO) statistics show an upswing in money supply part the country’s banks in the initial quarter of 2017, with total deposits to conventional banks rising by 4.2% to OR19.02bn ($49.4bn), compared to increase of 2% in quarter one 2016. The increase was supported by a 6.9% quarter-on-quarter (q-o-q) rise in government deposits to commercial banks between January and March, inclunding q-o-q expansion of 5.7% and 3% in public enterprise deposits and private sector deposits, respectively. In a June statement, ratings agency Moody’s said that 34% of banking system deposits were made by the government and related entities over the period, citing higher oil prices as behind improved national revenues and deposit increase.

Policy Differences Emerge Among Gulf States Days After Wooing President Trump

2017/05/29 Cracks have appeared in a Saudi-led, US-backed anti-terrorist political and military alliance days next US President Donald J. Trump ended a historic visit to Saudi Arabia. The cracks stem from Qatar’s long-standing fundamental policy differences with Saudi Arabia and the United Arab Emirates about Iran and the role of political Islam. The cracks emerged as the result of an anti-Qatar media and cyber campaign involving a spate of anti-Qatar articles in US and Gulf media; the blocking of Qatar-backed media websites and broadcasts in Saudi Arabia, the United Arab Emirates and Egypt; statements by prominent former US government officials; and a recent seminar by the Washington-based Foundation for the Defense of Democracies that has long asserted that Qatar supports militant groups.