Category: Zighlights

Banking & Finance
IMF MD meets CBO Executive President

Christine Lagarde, managing director of the International Monetary Fund (IMF), is on a short visit to the Sultanate. Tahir bin Salim bin Abdullah Al Amri, the executive president of the Central Bank of Oman (CBO), received Lagarde, and her delegation, on Monday at Muscat International Airport, accompanied by a group of CBO officials, said a […]

Banking & Finance
Meethaq signs RO16mn term finance agreements with ASAAS

Meethaq, the Islamic banking window of Bank Muscat, and two subsidiary companies of Muscat National Development and Investment Company (ASAAS) signed term finance agreements with a total value of RO16mn for an upscale 3 star hotel in Muscat and a crew reporting terminal at the airport. Sulaiman Al Harthy, Deputy Chief Executive Officer - Islamic […]

News
PDO, GlassPoint inaugurate Miraah Solar Plant

Under the patronage of HE Salim bin Nasser Al Aufi, Undersecretary of the Ministry of Oil and Gas, Petroleum Development Oman (PDO) and GlassPoint Solar have inaugurated the Miraah solar plant. Miraah, located at the Amal oilfield in the south of the Sultanate, will be among the world’s largest solar projects when completed. Four blocks […]

Editor's Pick
Port of Salalah begins ship to ship transfer services

 The Port of Salalah completed its first ship to ship transfer operation (STST) at Salalah anchorage recently as part of the port’s expanding service offering in 2018. The new service was performed by Fendercare Marine which transferred vegetable oil between the vessels NCC Nasma to Ariana while both were in the harbor anchorage. “Our vision […]

Banking & Finance
CBO signs pact with DFSA

The Dubai Financial Services Authority (DFSA) and the Central Bank of Oman have signed a memorandum of understanding (MoU) to cooperate in the supervision and authorisation of firms operating in both markets. The MoU was signed in the Dubai International Financial Centre by Bryan Stirewalt, Managing Director, Supervision Division of the DFSA, and Tahir bin […]

Banking & Finance
QNB closes $3.5bn loan facility

QNB Group, the largest financial institution in the Middle East and Africa region, announced the successful closing of the syndication for its $3.5 billion, three-year, senior unsecured term, loan facility. The syndication was well supported by 21 international banks and the facility has been upsized due to a strong demand in the market. The new […]

ECONOMY
inflation
Oman’s January inflation rises by 1.05 per cent

The inflation rate in the Sultanate in January 2018 increased by 1.05 per cent compared with the same period in 2017. It was also an increase of 0.1 per cent compared with December 2017, according to the latest data released by the National Centre for Statistics and Information (NCSI). The rise in the price index […]

POWER
ACWA Power wins $302mn solar project in KSA

ACWA Power, a global leader in developing, constructing, and operating power generation and water desalination plants, has won the Skaka independent power producer photovoltaic (IPP PV) solar project, the first utility-scale renewable energy plant in Saudi Arabia. This plant is the first project under an ambitious Saudi national renewables programme, aiming to produce 9.5GW of […]

Stock Markets
MSM to host 2018 World Exchange Congress

Muscat Securities Market (MSM) will host the 2018 edition of the World Exchange Congress, billed as the preeminent platform for global bourses and financial trading houses, in the Omani capital during February 27-28, 2018. Welcoming the privilege granted to the Sultanate and its official bourse as hosts of the prestigious event, Ahmed al Marhoon, Director-General […]

Banking
Rashad Al Musafir appointed as OAB’s acting CEO

Amin Al Husseini and Rashad Al Musafir have started their new roles at Oman Arab Bank (OAB) as of February 1, 2018. Al Musafir’s appointment is aligned with the executive succession plan previously adopted by the bank at the senior management level. Al Husseini, who first joined Oman Arab Bank in 2014, has been leading […]