Quotes: MENA   Enter Symbol: NewsLetter: Search: advanced

Oman's economic prospects remain promising, says CBO  Join our daily free Newsletter

MENAFN - Muscat Daily - 28/06/2014
No. of Ratings : 0
Add to Mixx!



(MENAFN - Muscat Daily) According to the Central Bank of Oman (CBO), the future prospects of the Omani economy in 2014 and beyond remain promising, taking into account the pace of economic diversification, favourable oil prices, sustained domestic demand, accommodative monetary policy, large expenditures planned by the government and the role of the private sector in the development process.

In its annual report released on Thursday, the CBO said that the diversification of the economy with the development of the industrial and services sector is the current focus of the government. ''The development of agriculture and fishing is also important to reduce food imports. The banking sector will continue to play an active role in providing credit to the growing sectors of the economy and stimulating growth.''

CBO said that while the major objective in the industrial sector is attaining faster industrial growth, aided by improved productivity and efficiency, it is being realised that the development of SMEs in the sultanate is also important.

''There could be a need to remove rigidities in the industrial sector, which would not only regenerate the required production growth, but also promote much greater industrial employment. The manufacturing sector particularly needs a push so that it could become more competitive,'' CBO's annual report said.

It said that the government is focusing on intensifying efforts in developing the financial sector, financing the private sector, improving the investment climate and developing infrastructure. ''All these factors taken together will act as a major push in developing the industrial sector. The service sector in Oman is emerging as an important growth driver. The improved growth performance witnessed across most sections of the services sector bears testimony to the relative contribution of this sector to overall growth.'


 


Muscat Daily




  MENA News Headlines
 Jan 26 2015 - Dubai real estate market posts strong growth in 2014MENAFN
(MENAFN) MPM Properties said in a new report that despite 2014 being a year of further growth for Dubai real estate market, the last quarter of the year witnessed a decline in values of the deals in ...

 Jan 26 2015 - Qatar's real estate deals hit USD988mMENAFN
(MENAFN) Qatar's Central Bank (QCB) said that the country's real estate market profits have eased down in December compared to the previous month, with the real estate index declining to 255.6 points ...

 Jan 26 2015 - UAE's DSI subsidiary wins USD50m contractMENAFN
(MENAFN) Drake & Scull International (DSI) said that its subsidiary Gulf Technical Construction Company (GTCC) has won a USD50 million contract from Reef Residence Real Estate for the Al Reef ...

 Jan 26 2015 - Oman's inflation eases to 0.8 percent in DecemberMENAFN
(MENAFN) The Omani National Centre for Statistics and Information (NCSI) said that Oman's annual inflation rate, as measured by the consumer price index (CPI), declined to 0.8 per cent in December, ...

 Jan 26 2015 - Qatar's QEWC net profit up 9.3 percent in Q4MENAFN
(MENAFN) Qatar Electricity and Water Co (QEWC), the Gulf state's monopoly utility firm, said that it has recorded a 9.3 percent increase in its net profit during the October-December period of 2014, ...

 Jan 26 2015 - QEWC net profit up 11% to QR1.53bnGulf Times
(MENAFN - Gulf Times) Qatar Electricity & Water Company (QEWC) has made a net profit of QR1.53bn last year, up 11% on the previous year.The results were announced by the company following a meeting ...

 Jan 26 2015 - Marsa Malaz Kempinski, Qatar's new ultra-luxury resort, unveiledGulf Times
(MENAFN - Gulf Times) An impressive blend of Arabian elegance and European grandeur is one of the unique highlights of Marsa Malaz Kempinski, The Pearl € Doha, Qatar's new ultra-luxury resort, which ...

 Jan 26 2015 - Dubai's DIP invests USD1.08b on infrastructureMENAFN
(MENAFN) Dubai Investments Park (DIP), the largest integrated commercial, industrial & residential community in the Middle East and wholly-owned by Dubai Investments PJSC (DI), said that its total ...

 Jan 26 2015 - Syria's Assad dismisses US plans to train rebelsGulf Times
(MENAFN - Gulf Times) Syrian President Bashar al-Assad said US plans to train vetted rebels to fight the Islamic State group were "illusory" as they would eventually defect to the jihadists, in an ...

 Jan 26 2015 - 4 killed as rockets rain down on Syrian capitalGulf Times
(MENAFN - Gulf Times) Four civilians were killed and dozens wounded when rebels fired a barrage of rockets and mortar rounds Sunday at central Damascus, a monitoring group said. The rebel attack came ...

more...


 






Google

Internatinal Property Show

 
 

Middle East North Africa - Financial Network

MENAFN News Market Data Countries Tools Section  
 

Middle East North Africa - Financial Network
Arabic MENAFN

Main News
News By Industry
News By Country

Islamic Finance News
Private Equity News

How-To Guides
Technology Section

Travel Section

Search News

Market Indices
Quotes & Charts

Global Indices
Arab Indices

Commodoties

Oil & Energy

Currencies Cross Rates
Currencies Updates
Currency Converter

USA Stocks
Arab Stocks
 

Algeria 
Bahrain 
Egypt 
Iraq
Jordan 
Kuwait 
Lebanon
Morocco 
Oman 
Palestine
Qatar 
Saudi Arabia 
Syria
Tunisia 
UAE 
Yemen

Weather
Economic Calendar
Financial Glossary


Financial Calculators

RSS Feeds [XML]

Corporate Monitor

Events

Real Estate
Submit Your Property

Arab Research
Buy a Research

Press Releases
Submit your PR

Join Newsletters


 
© 2014 menafn.com All Rights Reserved.  Terms of Service | Privacy Policy | Contact Us | Advertise | About MENAFN | Career Opportunities | Feedback | Help