Singapore's Alpha Fintech to enter GCC market; eyes predicted $20bn e-commerce sector by 2020. Alpha's pioneering multi-vendor enablement platform, valued at $250 million, enables banks to collaborate with Fintech's by making integration and standardization simple and economical. Finocracy and Alpha partnership opens up opportunities for GCC retailers to capitalise on 20% year on year e-commerce market growth.
The Sultanate on Saturday raised the prices of petrol and diesel for October. According to Ministry of Oil and Gas, M95 petrol will now cost 205 baisas per litre, against the 196 baisas a litre in September.
The price of M91 grade petrol will remain at 186 baisas a litre as the cost of this grade has been capped by the government. The price of diesel has gone up to 211 baisas per litre from 201 baisas a litre earlier.
The system of linking fuel price with the international one was introduced since January 15, 2016 after which prices went up substantially.
In the wake of the price rise, a good number of motorists began switching over to the low-octane regular M90. In the wake of growing environment concerns, authorities introduced the high-octane M91, replacing the regular grade.
Domestic sales of regular petrol went up by 240 per cent to 5.18 million barrels for the first 11 months. Consequently, super petrol sales dipped by 24 per cent to 16.32 million barrels. Staff Reporter
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