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BUSINESS REPORTERMUSCAT, MAY 29Oman Arab Bank SAOG (OAB) has successfully issued $250 million Additional tier-1 Perpetual Bonds, listed in the International Securities Market (ISM) of the London Stock Exchange. This makes OAB the first local bank this year to do so, ensuring a positive impact on its shareholders and the national economy at large. Rashad al.
MUSCAT: The Central Bank of Oman (CBO) announced the new issue (No 54) of Government development bonds. The size of the new issue is fixed at RO 150 million with a maturity period of 10 years and will carry a coupon rate of 5.75 per cent per annum. The issue will be open for subscription from September 10 to 14, while the auction will be held on Sunday,.
Statement on State’s General Budget for Fiscal Year 2020
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Muscat: The Ministry of Finance (MOF), in coordination with the Supreme Council for Planning (SCP) on Wednesday issued the statement on the State’s General Budget for the fiscal year 2020. This statement presents key financial and economic indicators for FY 2020, and the preliminary results of FY 2019. This is in order to ensure transparency and to inform the citizens, investors, domestic and international institutions of Oman’s fiscal policy for FY 2020.
The State’s General Budget is the main economic instrument, which reflects the Government’s policies and objectives. It can also be defined as a financial programme prepared for the upcoming financial year with the aim to achieve specific objectives within the framework of an approved development plan. The Budget sets out the estimated total revenue and spending on social and economic development.