The Ministry of Commerce, Industry and Investment Promotion presented economic data for 2024, including commercial registrations and foreign direct investment, both of which rose.
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Executives from the Arab-Brazilian Chamber of Commerce met with the Oman Chamber of Commerce and Industry, discussed advancements in the partnership between the two institutions, and explored ways to increase trade between the two countries.
The International Monetary Fund (IMF) reports that the country has adopted economic measures that foster growth beyond the oil sector.
The Import Price Index fell in the second quarter of this year. Oman purchased products from abroad at lower prices, including fuels and lubricants, machinery and equipment, as well as vegetable and animal oils.
Talal Sulaiman Al Rahbi was awarded a commendation by the Brazilian Academy of Honors for Merits at an event held at the Chamber of Deputies auditorium on Thursday (12). He mentioned that the moment is particularly timely as Brazil and Oman celebrate 50 years of diplomatic relations and that he is working to increase investment flows between the two countries.
Arab country grossed OMF 6.2 billion in revenue in the second quarter of 2024, most of which, i.e., OMR 3.4 billion, coming from the oil sector.
A delegation from Brazil’s agriculture ministry received from Oman’s government the sanitary approval and authorization for Brazilian exports of live cattle to the Arab country.
The Arab country is projected to grow 1.3% in 2023 and 1.4% this year, supported by favorable oil prices and reforms. Agriculture, construction, and services are driving the Omani economy.
The oil production cuts are expected to make the Gulf country grow less this year compared to 2022. Still, GDP is projected to increase by 1.3%. Inflation has receded, and reforms favor economic recovery.
Leonardo Marinho left Brazil in 2013 for Zanzibar, Tanzania, and last June he started a training company for baristas and roasters in Muscat, Oman. A demanding market and opportunities have led him to the Arab world.
The Arab country carries out an environmental project in which turtle nests are monitored to identify survival challenges for the animals on local islands.
A dinner party in the house of Palestine’s ambassador Ibrahim Alzeben celebrated the completion of the mission of four international envoys.
‘Scattered Barriers’ airs on the platform on January 12. Netflix is continuing its investment in Middle Eastern content.
Over the millennia, frankincense has been a symbol of Arab countries like Oman and an economic mainstay of farmers in Somalia and Sudan. The sap is the raw material of incense, but its trees are endangered due to the overexploitation.
