Disruption in the Strait of Hormuz has exposed the vulnerability of global trade to a single maritime chokepoint, with early data showing sharp falls in exports of energy, fertilizers and industrial products, the United Nations said in its report on Tuesday. The analysis focuses on 12 energy, fertilizer, and industrial products for which Hormuz-dependent economies […]
Hong Kong: Brent crude hit its highest price on Monday since June due to renewed fighting between the United States and Iran, while Asian equities were mixed as investors weighed the fallout of a prolonged Middle East war. Crude has surged over the past week as Washington and Tehran traded fire, raising fears of a […]
Muscat: When Oman introduced VAT in 2021, the question was whether it would stick. Four years on, the answer is in the numbers. Value-added tax generated RO 631 million in 2025, exceeding the budget estimate of RO 580 million and placing it within touching distance of corporate income tax — the government’s single largest non-oil […]
MUSCAT: Revenue generated by Oman’s three- to five-star hotels reached RO96.2 million by the end of April 2026, while total guest numbers stood at 696,911, according to data released by the National Centre for Statistics and Information (NCSI). The figures showed Omani nationals remained the largest group of hotel guests, with their numbers rising 3.5 […]
MUSCAT: The investment promotion sector in the Sultanate of Oman is seeing a quantum leap, represented in the efficiency of the integrated system for attracting capital and supporting sustainable economic diversification. Ibtisam bint Ahmed al Farooji, Under-Secretary of the Ministry of Commerce, Industry and Investment Promotion for Investment Promotion, said that the volume of foreign […]
