GulfBase Live Support
Leave a message and our representative will contact you soon
22/03/2012 07:47 AST
Oman’s finance ministry is not worried about inflation in the sultanate as it is hovering below a 4 percent target, its head was quoted as saying by a local report yesterday.
“Internally, we are watching inflation. So far it is not a big concern. It is still within the target of 4 percent,” said Finance Minister Darwish Al-Balushi.
“That is our priority at this point in time. The government will take all necessary measures to make commodities available in the country,” he said.
Inflation in the countryhas gradually eased last year to 3.3 percent in December from a peak of 5.3 percent seen in August.
In January, Central Bank Executive President Hamood Sangour Al-Zadjali said he expected inflation to be around 4 percent this year, the same as the 2011 average.
Analysts polled by Reuters in December predicted inflation to reach 3.6 percent in 2012. Balushi also said an escalation in tensions around Iran’s disputed nuclear program would hit the economies in the world’s top oil-exporting region hard, adversely affecting inflation.
In an interview with Reuters recently, Oman’s minister responsible for foreign affairs warned that the risk of military conflict between Tehran and the West was rising but there was still plenty of opportunity to negotiate peace.
Oman is located strategically on the opposite side of the Strait of Hormuz, where almost a fifth of oil traded globally passes.
Reuters
Ticker | Price | Volume |
---|---|---|
SABIC | 114.77 | 5,915,941 |
SAMBA | 26.98 | 1,138,683 |
DARALARKAN | 13.47 | 74,648,349 |
05/04/2018
Saudi Arabia's Public Investment Fund (PIF) has signed an agreement with Six Flags to develop and design an amusement park in Riyadh. Six Flags, the world’s leading international amusement park compa
Arab News
05/04/2018
In an exclusive interview with Arab News, Turki Mohammed Al-Shehri explains how an expanding renewables industry will boost employment as well as pave the way for a greener future.
A massiv
Arab News
05/04/2018
Dubai’s residential property market continued to soften in the first three months of this year, in line with analysts’ forecasts, with rental values recording a more pronounced fall than sales prices
The National
05/04/2018
Buoyed by a strong oil price of $70 per barrel, Saudi Arabia’s Tadawul shot up by over 6 per cent in March 2018, according to Kuwait Financial Centre’s (Markaz’s) recently released Monthly Markets Re
Times of Oman
05/04/2018
Qatar banks’ combined credit facilities to real estate sector rose by QR17bn to QR147.7bn in 2017. The banks’ credit to various sectors stood at QR911bn at the end of 2017, up from QR839bn recorded i
The Peninsula