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(Bloomberg) -- Oman recorded a budget surplus of 784 million rials ($2 billion) in the first half, driven by higher sales for oil and natural gas. Oman has implemented a series of reforms to balance its budget and lower its debt, including the introduction of value-added tax last year. [Extracted from the article]

Oman's $17 billion wealth fund plans to restructure its tourism and real estate investments in the latest shift by the $17 billion sovereign investor. The Oman Investment Authority will transfer a shareholding company, a tourism development project and resorts to the Omran Tourism Development Co., also known as Omran Group, the wealth fund said in a statement Sunday. [Extracted from the article]

(Bloomberg) -- Oman's government will finance most of its budget shortfall in 2021 by borrowing to plug a fiscal gap battered by a decline in oil prices and the coronavirus pandemic. The largest oil exporter outside of OPEC, Oman has been hammered by the coronavirus pandemic as well as lower crude prices and has raised the possibility of assistance from its Gulf neighbors. [Extracted from the article]

The Persian Gulf state is looking into borrowing that will cover 73%, or 1.6 billion rials, of the country's 2.2 billion rial ($5.7 billion) shortfall, with the remaining 600 million rials to be drawn from its reserves, according to a post on Twitter by state-run Oman News Agency on Friday. Oman has been hammered by the coronavirus pandemic as well as lower crude prices and has raised the possibility of assistance from its Gulf neighbors. [Extracted from the article]

(Bloomberg) -- Saudi Arabia and Oman halted international flights and closed their borders for a week over fears about the fast-spreading new strain of the coronavirus. The U.K. has warned that the new virus strain is "out of control", prompting countries including France and Germany to suspend travel from Britain. [Extracted from the article]