OMAN EXCHANGE RATE
India pushes to expand rupee settlement with key trade partners
India's central bank is actively working to facilitate rupee settlements with free-trade partners, aiming to boost the local currency. This involves establishing direct rupee rates independent of the US dollar and developing reference rates with several countries. These efforts align with Prime Minister Modi's goal of increasing the rupee's international use for trade and capital transactions.
For long-term investors: Focus on business, not sentiment. 7 large-cap stocks with an upside potential of up to 44%
Given the recent global and domestic developments, there is a greater probability that market sentiment will remain positive for the coming few weeks. Thursday saw the market following in the footsteps of the Dow Jones to celebrate – although somewhat mutedly – the US Fed’s rate cut. With the GST rate rationalisation set to be implemented on September 22 and positive signals emanating on the India-US trade deal front, there are more reasons for the bulls to get active. But, as investors, it would be prudent to be cautious even as you turn bullish.
These large-caps have ‘strong buy’ & ‘buy’ recos and an upside potential of more than 25%
It is always important to look at market breadth. But there are times when this becomes even more important as it tells you how things are panning out on the street. At this juncture, unless something truly unexpected happens on the India-US tariff deal, the chances are the market will have a bullish bias till the festive season lasts. It thus makes sense to be bullish. But, as they say in the market, nothing is 100% certain. Also, you do make a higher return when you take risks. So, at this point of time, stay bullish, but add an element of intelligent risk-taking to the mix. At least for the medium term.
India, Oman revise DTAA: What’s the income tax impact on professionals earning in both countries?
India and Oman have updated their Double Taxation Avoidance Agreement, effective May 2025, to prevent double taxation and also reflect current global tax norms. The revised treaty promotes cross-border investments by lowering tax rates on royalties and technical service fees. It also introduces a non-discrimination clause and strengthens information exchange between the 2 countries.
Oman DTAA: Withholding tax rates lowered
India and Oman have updated their double taxation avoidance agreement, broadening the scope of permanent establishment to include digital and service activities. The revised agreement lowers withholding tax rates on certain payments and introduces a Principal Purpose Test to prevent treaty abuse. These changes aim to boost investment, simplify tax compliance, and enhance information exchange between tax authorities.
Oil prices edge higher after US stocks build less than expected
Brent crude futures rose 15 cents to $83.11 a barrel by 0021 GMT, while U.S. West Texas Intermediate crude futures rose 18 cents to $79.31 a barrel.
- Go To Page 1
List of countries where Indians can use UPI to make payments; how to activate, make payments using UPI International
Over the past two years, many countries have started accepting payments through UPI apps. Here is a list of countries where Indians can use UPI to make payments.
Oman's second-largest bank pursues merger with smaller rival
Ahli said it would study Bank Dhofar's offer. Bahrain's Ahli United Bank owns over a third of Oman's Ahli Bank. Stock in Bank Dhofar rose over 3 per cent in trading on Tuesday on the Muscat Securities Market, to more than 40 cents a share. The sultanate of Oman sits on the eastern edge of the Arabian Peninsula. While a smaller oil producer than other Gulf Arab states, analysts expect Oman to use higher crude prices to bring down its budget deficits.
Fuel prices in Lanka hiked; govt says talks on with India for LoC
Sri Lanka's state oil entity and the Indian Oil Corporation's local subsidiary have raised the prices of petrol and diesel amidst a severe foreign exchange crisis in the country even as the government said that negotiations are underway with India and Oman to work out credit lines for fuel purchases.
Indians lost Rs 26,300 crore as foreign exchange fees in 2020
The money lost annually by Indians grew to Rs 26,300 crore in 2020, as compared to Rs 18,700 crore in 2016, the study commissioned by Wise, a London stock exchange listed company, and done by Capital Economics in August 2021, said.
Indians paid Rs 263 billion in foreign exchange fees in 2020: Report
The study conducted by Wise, a global technology company, revealed that between 2016 and 2020, the annual amount Indians lost in fees and exchange rate mark-ups increased from Rs 187 billion to Rs 263 billion.
BSE acted as catalyst in helping India create USD 3 trillion in wealth: Chauhan
Leading stock exchange BSE has acted as a catalyst for investments and helped in creation of USD 3 trillion wealth since it was set up in 1875, its chief Ashishkumar Chauhan said on Friday. Over the years, the exchange has been able to create trust among investors' community that will help India to achieve double digit annual growth in the time to come, he added.
Oman announces directive to form Friendship Association with India
The aim of the association to provide a platform that promotes friendship, understanding and matters of mutual interest between Oman and India business and social communities in the Sultanate.
Oman: A key partner in India's Indo-Pacific vision
Prime Minister Narinder Modi’s visit to the Sultanate of Oman in 2018 initiated a new energy in bilateral relations with enhanced cooperation in trade and investment, energy, defence, security, food security and regional issues, according to Al Rawahi.
India’s key West Asian partner Oman: voice of peace and moderation for centuries
This pluralistic character of Oman brought it closer to India resulting in wide-ranging strategic partnership. Oman is India’s oldest strategic partner in the Gulf. It may be recalled that last January India declared national mourning for deceased Sultan Qaboos bin said Al Said, one of Delhi's closest partners in West Asia for decades sharing special bonds with this country.
Oman provides India strategic depth in West Asia and Eastern African region
Prime Minister Narinder Modi’s visit to the Sultanate of Oman in 2018 initiated a new energy in bilateral relations with enhanced cooperation in trade and investment, energy, defence, security, food security and regional issues, according to Al Rawahi. Oman too has invested substantially in India.
Rupee skids 16 paise to 69.50 against dollar as oil prices shoot up
The rupee opened at 69.33 per dollar and fell further to touch a low of 69.56 at the interbank foreign exchange market.
Tata Steel signs agreement to sell stake in Al Rimal Mining
Under the agreement Tanmia, a closely held joint stock company incorporated in Oman, will be inducted into Al Rimal Mining as a shareholder.
India witnesses huge increase in foreign visitors
There has been a growth of 16.9% in August 2014 over August 2013 as compared to a growth of 9.1% registered in August 2013 over August 2012.
Hardware sector needs to grow at 30 per cent: Centre for Development of Advanced Computing official
The sector was presently growing at the rate of mere six per cent, but should reach the level of 30 per cent annually to catch up with China by 2020.
Gulf-based NRIs taking loans to reap benefits of fall in rupee
Money exchangers and bankers in Muscat said that NRIs have started resorting to personal loans as rupee touched an all-time low.
Indiabulls set to launch operations in Gulf countries
The plan includes opening up of representative offices in Saudi Arabia and Bahrain by year end, the company said in a statement.
Xpress Money lowers money transfer fees from Oman to India
Xpress Money on Monday announced a flat fee of 1.70 Omani Rial (OMR) for remittances of any denominations to India during the Holy month of Ramadan.
Iffco to set up $800 mn urea plant in Canada
The 1.25-million-tonne urea plant is likely to be built in three-to-four years, Iffco managing director US Awasthi told ET.
Lulu Group opens forex centre, to open 50 outlets by 2013
The Dubai-based NRI-promoted Lulu Group today launched its forex business arm, Lulu Forex Exchange here.
Weak rupee, high oil prices have come back to haunt Indian economy
The steep depreciation in rupee in the past couple of months is worsening the problem of high crude oil prices for the Indian economy.
SAIL in pact with SCI for shipping JV
State-run Steel Authority of India said it would form a joint venture company along with Shipping Corporation of India (SCI) for carrying out dry bulk shipping trade and importing coking coal.
Consumers may not end over barrel thanks to OPEC, US stocks
The year-end will not hold many surprises for crude oil in India, with the prices expected to remain range-bound internationally.
Kuwait drops dollar peg in blow to Gulf currency union
Kuwait unshackled its dinar from the tumbling US dollar on Sunday and switched the exchange rate mechanism to a basket of currencies, throwing plans for currency union with other Gulf Arab oil producers into disarray.
Load More