Banking & Finance
CBO launches automated clearing house payment system

The Central Bank of Oman (CBO) has announced launch of its redesigned Automated Clearing House (ACH) payment system on November 18, 2017, which marks the National Day of the Sultanate, thereby attaining one more milestone of providing a safe and secure electronic payments environment in the country. CBO has undertaken this initiative of implementing the […]

National Life
Leading brokerage houses back National Life’s share offer

Leading brokerage houses in Oman have backed the initial public offering of National Life and General Insurance Company, which will close subscription on November 20. “Overall, we rate the IPO as an above average issuance which gives investor an exposure to the leading insurance company in Oman with exposure in the GCC markets. Our weighted […]

Muscat Desalination
MCDC IPO opens for subscription

Muscat City Desalination Company (MCDC), which is opening its initial public offering today, said the company plans to offer a projected dividend yield of 8.3 per cent for the first five years, considering the offer price of 116 baisas. This compares with the average dividend yield of 5.9 per cent for the other power and […]

Banking & Finance
Omani banks achieve 5.7 per cent growth in credit

Omani banks, including Islamic institutions, achieved a year-on-year growth of 5.7 per cent in total credit at RO23bn by September-end this year. Credit to the private sector alone grew by 5.7 per cent to RO20.8bn as of the end of September 2017, the Central Bank of Oman (CBO) said in its latest monthly report. Of […]

ACWA Power signs agreements for extending licence

ACWA Power Barka has signed three agreements with government entities to extend its licence until December 2021, the company said. These amendment agreements are for power and water purchase agreement, water purchase agreement for the second phase and natural gas supply agreement, which have been finalised with revised terms and conditions after negotiations with Oman […]

Oman Air B737 MAX fleet to fly with Thales AVANT IFE System

Oman Air, the National Carrier of the Sultanate of Oman signed an agreement with Thales on the sidelines of the Dubai Airshow, to equip its B737 MAX fleet for developing its Inflight entertainment systems As one of the respected airlines of the  region  with a focus on service excellence and the promise of the highest […]

Eng. Isam Al Zadjali, Chief Executive Officer of Oman Oil Company
Fueling the economy

Isam Al Zadjali, CEO, Oman Oil Company talks to OER about the company’s operation, achievements and priorities

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Oxy Oman to operate Block 30 with 72.86 per cent stake

The Government of Oman, Oman Oil Company Exploration and Production LLC (OOCEP) and Occidental Hafar LLC (Oxy), a subsidiary of Occidental Petroleum Corporation, entered into an Exploration and Production Sharing Agreement (EPSA) for Block 30, located in the Dakhiliya region onshore Oman. Pursuant to the EPSA, Oxy is the Operator of Block 30 and holds a […]

HH Sayyid Fatik inaugurates Renaissance Village Duqm  

The 16,960-bed facility will accommodate the workforces of contracting firms in the Duqm Special Economic Zone As part of the celebrations of Oman’s 47th National Day, Renaissance Services announced the opening of its highly-anticipated turnkey project – Renaissance Village Duqm, a 16,960-bed facility that will accommodate the workforces of contracting firms in the Duqm Special Economic […]