This is the fifth publication in its series and the only one of its kind amongst the Financial Services Industry in the Middle East. The GCC Powers of Construction report is produced based on data gathered from surveys and internal data, supported by interviews with some of the most prominent industry leaders from the region.This issue focuses on the positive sentiment in the construction industry and positive developments in awarding some mega and social infrastructure projects across key markets in the Middle East. The industry seems to be out of the recession and into recovery mode. So the big question remains: “Are you ready for the construction recovery?”
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Deloitte: GCC Powers of Construction - Are You Ready For The Recovery? (2014)
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Sultanate's 2013 economic performance was strong: IMF
Oman's economic performance was robust in 2013, a delegation from the International Monetary Fund (IMF) said in a statement after wrapping up a two-day mission to the Sultanate.
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POSCO wins contract to execute Oman steel mill
The engineering and construction arm of South Korean based international steel producing giant POSCO has been awarded a contract to construct a major steel mill planned in Sur on the east coast of Oman.
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Expats can register only 3 vehicles
Putting rest to the rumours being spread on social media since last two weeks, the Royal Oman Police (ROP) has clarified that non-Omanis in the country cannot register more than three private vehicles on their names.
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Banque Audi: MENA Weekly Monitor (10-May-14)
This is a PDF report.
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Rasameel: Global Sukuk Market - Quarterly Bulletin (Apr-14)
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Renaissance initiates work on Duqm project
Renaissance Services has started work for building the 16,000-bed Duqm contractors' accommodation.
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Truckoman plans initial public offering on the Muscat stock exchange
Truckoman, which provides logistics services to oil and gas companies including Halliburton and Schlumberger, is planning an initial public offering (IPO) in the next two months on the Muscat stock exchange, three people with knowledge of the matter.
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National Business Centre signs key pact to assist Anwar Al Majed United
This agreement comes in line with the National Business Centre's mission to support major projects of interest to the nation, as the centre
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Bank Sohar plans to raise OMR70m
Bank Sohar board has approved a proposal to issue OMR70 million worth mandatory convertible bonds to boost its capital reserves, it said in a disclosure statement on Wednesday.
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Cargo terminal at Port of Salalah getting ready
The Port of Salalah expects completion of its general cargo terminal (GCT) expansion and a liquid jetty by November 2014.
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Oman Oil Company to set up a new firm in Duqm for logistics
Oman Oil Company (OOC) has signed a shareholders' agreement with Port of Duqm Company (PDC) to establish the Duqm Petroleum Terminal Company (DPTC) to further strengthen Duqm's status as the upcoming regional hub for hydrocarbons, refining and petrochemicals.
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OAB: Al Arabi GCC Sukuk Mid Month Report (15-May-14)
This is a PDF report.
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Global: GCC Economic Overview - 2014 (May-14)
The GDP growth in GCC countries is expected to be at 4.1% in 2014 compared to 3.7% in 2013. The growth in the GCC oil sector slowed to an estimated 0.4% in 2013 while it is expected to go up to 1.5% in 2014. Meanwhile, the non-oil sector would support economic expansion this year as GCC countries are expected to register 5.3% (2014) growth in this sector vis-à-vis subdued growth in the oil sector.
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Mena SMEs facing AED881bn financing gap
Finding finance is a major challenge for the small and medium enterprises in the Mena region with financing gap of nearly AED 881 billion as nearly 63% don't have access to finance, said a senior official of Euler Hermes, a global trade credit insurance company, in Dubai.
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Oman's Education ministry plans to counsel parents about child bullying
The Ministry of Education is planning to counsel parents on how to recognise the signs that their children are being bullied at school, an official has confirmed.
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Gulf real GDP growth to hit 4.7%
Real GDP growth in the GCC region is likely to reach 4.7 percent this year, according to a report.
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Investors are looking for skilled workforce
Omanisation is a national duty, but the recent objectives of the resolutions are primarily to identify the actual needs of the market and the initiatives taken by the government are in agreement with the recommendations made by Oman Chamber of Commerce and Industry (OCCI).
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Oman residents playing a role in boosting its tourism
When Tutuni Dey, a former student of Indian School Muscat currently studying in India's Symbiosis Institute took up a five-year course in architecture, little did she know that her love for Oman will make her the sultanate's tourism ambassador.
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Al Anwar Holdings plans to sell stake in Taageer
Al Anwar Holdings announced that it has signed an indicative non-binding term sheet with a local institution to sell its stake in non-banking finance company Taageer Finance Co.
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