Oman takes $3.55 bln China loan to cover budget deficit

Medical and Hospital News

Oman takes $3.55 bln China loan to cover budget deficit
by Staff Writers
Muscat (AFP) Aug 2, 2017

Oman on Wednesday announced it has taken out a $3.55-billion loan from Chinese banks to cover its budget deficit for the current fiscal year.

The sultanate had originally planned to raise $2 billion on the Chinese market but raised the amount because of strong demand, the finance ministry said.

It said Oman had previously raised $5 billion with a bond issue and another $2 billion in sukuk, or Islamic bonds.

The loans aim to cover the deficit in the 2017 budget, deputy finance minister Nasser al-Jishmi was quoted by the official news agency ONA as saying.

Oman, a non-OPEC producer which pumps a modest 1 million barrels per day, in January announced a deficit of 3 billion riyals ($7.7 billion) and vowed to press on with an austerity programme to combat the global slump in oil prices.

BP's CEO: Prepare for the new oil price environment
Washington (UPI) Aug 1, 2017
Production from British supermajor BP edged higher, though income was lower and the company's CEO said he was positioning the company for a new market climate. "We delivered strong operational performance in the first half of 2017 and have considerable strategic momentum coming into the rest of the year and 2018, with rising production from our new upstream projects and marketing growth ... read more

Related Links
All About Oil and Gas News at OilGasDaily.com

Thanks for being here; We need your help. The SpaceDaily news network continues to grow but revenues have never been harder to maintain. With the rise of Ad Blockers, and Facebook - our traditional revenue sources via quality network advertising continues to decline. And unlike so many other news sites, we don't have a paywall - with those annoying usernames and passwords. Our news coverage takes time and effort to publish 365 days a year. If you find our news sites informative and useful then please consider becoming a regular supporter or for now make a one off contribution.
SpaceDaily Contributor $5 Billed Once credit card or paypal		SpaceDaily Monthly Supporter $5 Billed Monthly paypal only

Comment using your Disqus, Facebook, Google or Twitter login.

Share this article via these popular social media networks

New phase change mechanism could lead to new class of chemical vapor sensors

Robot finds possible melted fuel inside Fukushima reactor

Smart sensors could save lives

Cheap 3D printed prosthetics could be game changer for Nepal

IAI, Honeywell Aerospace team for GPS anti-jam system

Russia, China to Set Up Pilot Zone to Test National Navigation Systems

India Plans to Roll Out National GPS Next Year

Orbital Alliance Techsystems receives contract for GPS artillery

How did early humans survive aridity and prolonged drought in Africa

In saliva, clues to a 'ghost' species of ancient human

Artifacts suggest humans arrived in Australia earlier than thought

Startup touts neuro-stimulation as 'medicine for the brain'

Star chefs in Mexico to defend biodiversity

Bacteria passed from mom to offspring is most beneficial, study shows

Villagers in Niger 'massacre' 27 hippos

To avoid getting eaten, spiders walk like ants

Myanmar seeks WHO help with deadly swine flu outbreak

Scientists divulge latest in HIV prevention

Injectable AIDS drug may work 'as well' as pills

Swaziland halves world's highest HIV infection rate

Chinese dissident Liu Xiaobo's ashes buried at sea

Botswana confirms Dalai Lama visit despite China anger

Chinese city leadership shake-up signals Xi power play

Chinese police detain suspected pyramid scheme protesters

US lists China among worst human trafficking offenders

Golden Triangle narco-gangs churning out new highs, UN warns

UN counter-drug official kidnapped in Colombia: officials

The content herein, unless otherwise known to be public domain, are Copyright 1995-2024 - Space Media Network. All websites are published in Australia and are solely subject to Australian law and governed by Fair Use principals for news reporting and research purposes. AFP, UPI and IANS news wire stories are copyright Agence France-Presse, United Press International and Indo-Asia News Service. ESA news reports are copyright European Space Agency. All NASA sourced material is public domain. Additional copyrights may apply in whole or part to other bona fide parties. All articles labeled "by Staff Writers" include reports supplied to Space Media Network by industry news wires, PR agencies, corporate press officers and the like. Such articles are individually curated and edited by Space Media Network staff on the basis of the report's information value to our industry and professional readership. Advertising does not imply endorsement, agreement or approval of any opinions, statements or information provided by Space Media Network on any Web page published or hosted by Space Media Network. General Data Protection Regulation (GDPR) Statement Our advertisers use various cookies and the like to deliver the best ad banner available at one time. All network advertising suppliers have GDPR policies (Legitimate Interest) that conform with EU regulations for data collection. By using our websites you consent to cookie based advertising. If you do not agree with this then you must stop using the websites from May 25, 2018. Privacy Statement. Additional information can be found here at About Us.