Head stories

Cut in Haj pilgrim numbers

Bader — Tue, 18 Jun 2013 16:24:03 -0400

By Saif al Fadhili — MUSCAT — Oman Arabic, sister daily of the Observer, has learnt that the number of Omani pilgrims this year is expected to be cut in line with a decision by the Saudi Haj authorities to reduce the number of pilgrims who will be performing the Haj this year by about 20 per cent from abroad. The number of Omani pilgrims is expected to be reduced to around 10,000 instead of the Sultanate’s normal quota of 14,000. Recently, Saudi Haj Minister Bandar Hajjar has said that the country has cut back the number of pilgrims this year.

Oman oil price at $102.25

Bader — Tue, 18 Jun 2013 16:23:59 -0400

DUBAI Mercantile Exchange (DME) said that Oman oil price for August delivery has reached $102.25. The DME statement said that the price of Oman oil fell by $1.13 compared to that on Monday, which was at $103.38. The average price of Oman oil for July delivery has stabilised at $100.43, $1.38 lower.

RO 600m projects to boost tourism

Bader — Tue, 18 Jun 2013 16:12:36 -0400

MUSCAT — The investment by Oman Tourism Development Company (Omran) has reached RO 600 million and is spread over projects managed by the company in various governorates of the Sultanate.

25pc increase in non-oil exports

Bader — Tue, 18 Jun 2013 16:12:32 -0400

By Kabeer Yousuf
MUSCAT — Oman’s non-oil exports has increased by 25 per cent in the last few months and is poised to grow further according to the Public Establishment for Industrial Estates (PEIE). “Oman’s exports have increased by 25 per cent in the last few months thanks to the efforts of the authorities concerned and we are all set to scale greater heights in the coming months," Hamood Abdullah al Balushi, Director (Omani products), PEIE, told the Observer.

More sops for SMEs

Bader — Tue, 18 Jun 2013 16:12:30 -0400

MUSCAT — The Public Authority of Small and Medium-Sized Enterprises Development Board reviewed the decisions taken at SMEs development Symposium held at Saih al Shamikhat on January 21-23 and the steps taken by government agencies in implementing the decisions of the symposium, which will be reviewed at the workshop to be held on July 2.

HM greetings to Seychelles

Dawood — Mon, 17 Jun 2013 15:40:07 -0400

HIS Majesty Sultan Qaboos has sent a cable of greetings to President James Alix Michel of the Seychelles on the occasion of his country's National Day. In his cable, His Majesty the Sultan expressed his sincere greetings along with his best wishes to President Michel and his country's friendly people.

Chinese leader thanks HM

Dawood — Mon, 17 Jun 2013 15:39:39 -0400

HIS Majesty Sultan Qaboos has received a cable of thanks from Chinese President Xi Jinping in reply to His Majesty's condolences cable on the victims of a fire at a poultry in Jilin Province. President Jinping expressed his thanks for His Majesty's sincere condolences to the president and the friendly people of China.

Market to see major IPOs

Dawood — Mon, 17 Jun 2013 15:38:43 -0400

By Hasan Kamoonpuri -
MUSCAT — Bright outlook surrounding the Sultanate’s macro-economic scenario, despite the global economic meltdown, is paving the way for a robust Initial Public Offerings (IPO) market.
The market saw two initial public offerings last year, namely, Bank Nizwa and Al Izz Islamic Bank. Although the investors’ approach in 2012 was cautious with the annual market return being 1.2 per cent, these two IPOs were successful in raising capital in the market.

Sewage work hits businesses

Dawood — Mon, 17 Jun 2013 15:37:29 -0400

By Kabeer Yousuf -
MUSCAT — A number of business houses in Al Ghobra are finding it extremely difficult to attract their customers as a major sewage maintenance work is being carried out for several months depriving their customers of parking and even entry to the shops.
Added to this, the foul smell emanating from the broken sewage is sending people away from the vicinity of the site which flouts the minimum requirements for carrying out such a work in the heart of the city.

Syria, economy dominate G8

Dawood — Mon, 17 Jun 2013 15:35:49 -0400

ENNISKILLEN, United Kingdom — The war in Syria dominated the start of the G8 summit in Northern Ireland yesterday as Western leaders upped pressure on Russia to back away from its support.
Russia dismissed rumoured Western moves to establish a no-fly zone over Syria to help the opposition forces while host Prime Minister David Cameron pushed for progress on a peace conference.