Thursday 10 / October / 2024
Muscat: Ali Amer Al Shidhani, Undersecretary of the Ministry of Transport, Communications and Information Technology for Communications and Information Technology, received at his office today Baybars Altuntas, Executive Chairman of the World Business Angels Investment Forum (WBAF), who is currently visiting Oman.
Al Shidhani and Altuntas explored avenues of cooperation between the WBAF and the departments lending support to Omani technology start-ups, notably in the field of investment. Altuntas was briefed about incentives provided by the government in this respect.
As part of the visit schedule, which includes meetings with bold investment enterprises in Oman, Altuntas toured the Youth Centre and the Innovation Lab of Oman Telecommunications Company (Omantel).following the U.S. Federal Reserve’s decision to leave its key policy rate unchanged at the range of (5.00% - 5.25%)
The repo rate is the policy rate that allows commercial banks to acquire short term liquidity from the Central Bank as the lender of last resort.
The CBO’s monetary policy target is to sustain and maintain its fixed exchange rate. This policy is aligned with the structure and nature of the Omani economy. There are a number of advantages for Oman that are derived from this policy among which are the following: Stability of the Omani Rial; Mitigation of capital outflow; Promoting certainty among investors by removing exchange rate risk.
