Positive monetary news and the announcement of continued investment have come as a boost to Oman's retail sector, as retailers enjoyed their customary seasonal boom during the Eid Al Fitr holiday.
Figures released by the Central Bank of Oman in September demonstrate a fall in the rate of inflation from 2.88% in June to 1.82% in July.
The latest figures are a major improvement from Oman's 2008 inflationary peak of 14%, prompted by high oil prices and fiscal loosening at the US Federal Reserve (the Omani Rial has been pegged to the dollar since 1973, with only one adjustment to the exchange rate in 1986).
full story @
http://www.arabianbusiness.com/570461-oman-on-the-up
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Off the Press Paper - Global Retail Recruitment
Thursday, 22 October 2009
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