The GCC is the third largest source of foreign investment in Turkey, with 1,973 Gulf companies currently operating in the country.

Muscat, Oman - Moody's has upgraded Oman's credit rating from Ba3 to Ba2 while maintaining a positive outlook due to the reduction in public debt and the improvement in the Sultanate's ability to meet its financial obligations in 2022.This comes after S&P revised Oman's outlook from stable to positive in...

Dubai, UAE-- Oman and Etihad Rail Company, the operator of the UAE-Oman Rail Network, has signed a memorandum of understanding (MoU) with Vale, the Brazilian mining giant, to look at the possibility of using the rail network in the transportation of iron ore.The MoU was signed by Ahmed al Musawa...

ABU DHABI, UAE- Oman and Etihad Rail Company signed an agreement with Vale, one of the world’s largest mining companies, to explore utilizing rail to transport iron ore and its derivatives between Oman and the UAE. It is likely to connect Vale’s industrial complex in Sohar Port and Freezone to...

The Kingdom holds 323.1 tons of gold, accounting for 21.4% of the total yellow metal held by central banks in the Arab countries. Qatar, UAE and Kuwait are also regional leaders.

Tehran, Iran-- Oman is keen to improve the military and defense ties with Iran in order to ensure the security of the Strait of Hormuz and the Sea of Oman.This was stated by Sultan of Oman Haitham bin Tarik in a meeting in Muscat on Tuesday with the visiting Chief...

Muscat, Oman--The Central Bank of Oman (CBO) has raised $36.35 million by way of allotting treasury bills on Tuesday, the bank said in a statement.The statement said the value of the allotted treasury bills amounted to $26 million, for a maturity period of 28 days.The average accepted price reached OMR99.645...

Muscat, Oman -- Pakistan and Oman have agreed to boost air travel between the two countries' airports, reports said.The agreement came after a series of meetings in the Pakistani capital held by officials from both nations. An Omani delegation, led by Naif Ali Al Abri, Chairman of the Civil Aviation...

Muscat, Oman -- ahlibank of Oman has reported a profit of 8.4 million RO ($21.84 million) in the first quarter of 2023, an 11.1 percent increase over the same period in 2022.The customer deposits grew by 7.3 percent, reaching RO 2.33 billion during the first quarter, compared to the same...

Riyadh, Saudi Arabia-- Becht, an American engineering services company, has revealed that it is in talks with potential partners in Saudi Arabia in order to widen its presence in the region.According to its director for the Middle East, Chris Van Der Beek, Becht is also holding discussions with potential allies...

Previous attacks have been blamed on Somali pirates but they have fallen in recent years as a result of international security operations. Pirate attacks fell to their lowest level in nearly three decades in 2021, according to the International Maritime Bureau watchdog.

The US Navy demanded the immediate release of the tanker, saying it was transiting international waters in the Gulf of Oman and slammed Iran's "continued harassment of vessels". It is one of a spate of incidents since 2018, when then US president Donald Trump pulled out of a nuke pact...

Since the beginning of 2023 alone, three digital and physical platforms have been launched by Qatar, Oman and Kuwait to facilitate investments by foreigners and the local private sector.

Syria was suspended from the Arab League in 2011 over Assad's brutal crackdown of pro-democracy protests. But on Wednesday, in the latest sign of an easing in tensions with Damascus, Syrian Foreign Minister Faisal Mekdad arrived in Jeddah, the first such visit since the war began.

Syria's President Bashar al-Assad, diplomatically isolated since the start of the Syrian war in 2011, has visited the UAE and Oman over the past two months. An Arab League summit is expected to be held in Riyadh in May.

The delegation's arrival comes roughly a month after China helped broker a surprise rapprochement between Saudi Arabia and Iran, fuelling hopes for progress on ending the Yemen conflict that has claimed hundreds of thousands of lives. Omani mediators arrived in the Yemeni capital, Sanaa, on Saturday.

MUSCAT, OMAN  -   Oman Ministry of Commerce, Industry and Investment Promotion on Sunday  issued an order to regulate the activities of consumer cooperatives.The order aims at promoting Omani products, establishing new supply chains, supporting national industries, developing governorates and providing new investment opportunities.The regulation consummates the "National Product Support Initiative",...

Nearly a decade of war in Yemen has claimed hundreds of thousands of lives, both directly and indirectly, and triggered what the United Nations has called the world's worst humanitarian crisis. The Huthis seized the capital Sanaa in 2014, triggering the conflict with the government backed for eight years by...

Reza Noshadi, who heads the National Iranian Gas Company’s engineering subsidiary, said that Iran will be able to export gas to Oman through the 200-kilometer pipeline from Minab to Kuhmobarak.

Sunday's move "caught the markets off guard" and reversed recent oil-price gains, noted ActivTrades analyst Ricardo Evangelista. "With the fizzling out of the banking crisis and the return of optimism to the markets, the price of the barrel was already showing signs of recovering," he noted.

Abu Dhabi, which normalized relations with Assad's government in 2018, has led aid efforts in the aftermath of the February 6 earthquake that struck southeastern Turkey and northern Syria, killing tens of thousands. A diplomatic momentum generated by aid efforts in the quake's aftermath could bolster Damascus's relations with Middle...

Muscat, Oman -Oman Power and Water Procurement Company (OPWP) is set to award solar energy projects worth $777 million to international investors after securing approvals from the Authority for Public Services Regulation (APSR).According to media reports, the Manah 1 and 2 projects, which will jointly produce a total of 1,000MW,...

Dubai, UAE-- The UAE and Oman have signed an agreement to enhance cooperation in order to preserve environment and encourage sustainable development.In this connection, a UAE delegation, headed by Mariam bint Mohammed Almheiri, Minister of Climate Change and the Environment, paid a visit to Oman to enhance cooperation in fish...

On Twitter, the Omani Civil Aviation Authority affirmed that "the Sultanate's airspace is open for all carriers that meet the requirements of the Authority for overflying". Netanyahu visited Oman in 2018 at the invitation of Sultan Qaboos, despite Muscat not officially recognizing Israel. "This is a day of great news...

Sultan Haitham and Assad "held official talks" at the royal palace in Muscat, Oman's foreign ministry said in a statement. The Omani ruler "extended anew his condolences and sincere sympathy to.... the president and to the brotherly Syrian people for the victims of the devastating earthquake", it added.

The annual expansion of more than 100 fuel stations in the Gulf countries add around US$500,000 per day to companies' revenues in each country in the region, say experts.

The merger was settled with Vision Insurance Company’s existing shareholders by Oman Qatar Insurance Company.

The UAE and few other countries figure at the top of the Transparency Index in the region, but this doesn't mean that they have an excellent performance globally, says an expert.

Abu Dhabi, UAE--A joint Oman-UAE military exercise codenamed “Cooperation-3” began in Oman on Monday. The 11-day drill, which concludes on February 16, 2023, saw the participation of a force from Muscat Regiment, Infantry Bridge (23) of the Royal Army of Oman (RAO), and its support divisions, as well as aircraft...

More dams are being built in the region to shield the residents against floods, offer a lifeline during drought and work towards food sufficiency by enhancing agriculture output.

Baghdad, Iraq--Iraq saw the Gulf Cup as a chance to rehabilitate its image after a years-long football hosting ban, but a deadly stampede and organizing gaffes have dampened the cheer despite its home victory.Thursday's stampede outside a football stadium ahead of the cup final in the southern city of Basra killed...

BAGHDAD, IRAQ - The Civil Aviation Authority announced the work to conclude new air agreements with the Gulf states. A spokesman for the Civil Aviation Authority, Jihad Al-Diwan, told local media agency: "We have agreements with all Gulf countries and all Gulf national carriers that land in Iraqi airports, except for...

Tehran, Iran -- Iran has protested to Iraq over the use of the name "Arabian Gulf" for a regional football competition held in the neighboring country, state media reported Wednesday.The Islamic republic insists the body of water should be called the "Persian Gulf" and has repeatedly raised the issue with countries...

MUSCAT, OMAN -  UAE Minister of Education Dr. Ahmad Belhoul Al Falasi and Oman Minister of Education Dr. Madiha bint Ahmed Al Shaibaniyah discussed advancing the cooperation between the two countries in the education sector.  The meeting was held in Muscat and aimed at boosting the coordination and cooperation between...

Basra, Iraq--Iraq on Friday welcomed football teams from across the region for the Gulf Cup, ending nearly three decades of repeated bans on international matches in the war-torn and corruption-plagued country.The tournament in the southern city of Basra brings together eight teams, with Friday's opening match seeing the host nation...

The new agreements will see Oman LNG supplying LNG based on contracts varying from 5 to 10 years.

Muscat, Oman - Saeed bin Hamoud Al Maawali, Omani Minister of Transport, Communications and Information Technology, has said that the digital economy of the Gulf Cooperation Council (GCC) region is advancing at a rapid and significant pace, noting its major importance to GDP.He noted the importance of promoting cooperation between...

The adoption of digital currencies can help open new business segments as the use of these assets increases with time, Daniel Takieddine, CEO of MENA BDSwiss, tells TRENDS.

Saudi Arabia's GDP witnesses 9.3 percent increase in the third quarter of this year as the rally in oil prices has fuelled economic growth across the Gulf region.

The Gulf countries have highlighted the importance of coordinating and unifying the stances of the regional bloc in all international environmental forums.

Thanks to a strong rebound in domestic activities and higher oil prices, the latest IMF report suggests the GCC economies to expand further than previously expected.

Riyadh, Saudi Arabia - A Saudi real estate firm has partnered with the Trump Organization on a $4 billion golf and real estate development project in neighboring Oman, according to a stock market filing published Sunday. The deal involving the Dar Al Arkan Global Company, a subsidiary of Dar Al...

An Israeli official told AFP that the strike on the tanker was "an Iranian provocation" that aimed to "disrupt the environment" before the football World Cup opens in Qatar on Sunday. The official, who requested anonymity, said the attack was carried out with the "same drones that the Iranians are...

The regional economies -- set to expand by 6.9 percent in 2022 -- may moderate to 3.7 percent and 2.4 percent in 2023 and 2024 respectively, says a World Bank report.

The tanker was "hit by a projectile approximately 150 miles off the coast of Oman ... on 15 November," the Eastern Pacific Shipping company said in a statement, adding that there were no reports of casualties or any leakage of the cargo.

Sharm el-Sheikh, Egypt—Saudi Arabia has signed two separate agreements with Oman and Egypt to boost ties in the energy field. The deals were reached on the sidelines of the COP27 summit in Egypt. A memorandum of understanding was signed by Saudi Energy Minister Prince Abdulaziz bin Salman and his Omani...

Customer deposits up by 9.2% to reach $5.79 bn.

Muscat, Oman---Oman’s budget achieved a surplus of RO 1.123 billion ($2.92 billion) at the end of September 2022, the country's finance ministry reported in its Fiscal Performance Monthly Bulletin. For the same period last year, the budget reported a deficit of RO 1.030 billion. Oman’s public revenue stood at RO...

The five companies, together with Saudi Egyptian Investment Company (SEIC), a wholly-owned PIF subsidiary that was launched in August 2022, will invest up to $24 billion in opportunities across various key sectors in each market.

MUSCAT, OMAN - The inflation rate of Consumer Price Index in Oman reached 2.4 percent during September 2022. A monthly consumer price survey report by National Center for Statistics and Information said this. The report noted prices of education group increased by 5.1 percent, while prices of health group and...