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 […]

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 […]

Al Anwar to sell 9 per cent stake in Ominvest for RO31mn

Al Anwar Holdings (AAH) plans to sell its 9 per cent stake in Oman International Development and Investment Company (Ominvest) to Oman National Investment Corporation for OMR31.16 million. The company has entered into a share sale and purchase agreement with Oman National Investment Corporation (ONIC) for selling 62.943 million shares of Ominvest at a price […]

MCDC’s IPO to open on Nov 19

Muscat City Desalination Company (MCDC), which owns the Ghubrah Independent Water Plant, plans to float its RO6.31mn initial public offering (IPO) on November 19. The offer price is fixed at 116 baisas, which include a nominal value of 100 baisas, a premium of 14 baisas and an expenditure of 2 baisas per share. The company […]

Modernising waste managment
Modernising waste management

With big plans for the modernisation of its waste management operations underway, including a transfer of the existing national infrastructure to international operators, Oman is nearing completion of major reforms in the sector. The Oman Environmental Services Holding Company—also known as Be’ah—is close to completing the transfer of waste management operations in each of its […]

AkzoNobel launches ‘Sadolin Dulux’ in Oman  

  AkzoNobel, a leading global paints company, today marked a key milestone in its presence in the Sultanate of Oman with the introduction of the ‘Sadolin Dulux’ brand in decorative paints – bringing together the home-grown Sadolin brand and the global colour and innovation leader Dulux. Sadolin Dulux will offer customers in Oman with an […]

Oman Qatar Insurance steady on first day of listing

Oman Qatar Insurance Company’s (OQIC) shares closed at 160 baisas on listing on the Muscat Securities Market (MSM). The company offered shares on the Muscat bourse at the same price in one-month subscription. A total of 1.06 million shares were traded on the bourse on the first day of listing, generating a turnover of OMR168,843. […]

Ashok Hariharan
KPMG encourages companies to prepare for value added tax

Companies in Oman can learn from the experience of Saudi Arabia and the United Arab Emirates (UAE) when they implement Value Added Tax (VAT) in January 2018 and thereby avoid potential pitfalls, according experts at a recent seminar organised by the Entrepreneur’s Organisation of Oman in collaboration with KPMG. The implications of introducing VAT in […]

Banking & Finance
Ominvest Office Building 3
Ominvest plans to raise RO50mn in bond issue

Oman International Development and Investment Company is gearing up to publicly issue an RO50mn perpetual bond to seize future growth  Perpetual bonds valued at RO50mn will be issued by Oman International Investment and Development Company (Ominvest), a leading investment holding company in the Mena region. The bond issue, which will be a public issue, will […]

Shell Oman celebrates Shell Eco-marathon 2017 teams

Shell Oman organised a special ceremony to recognise the student teams that represented Oman in Shell Eco-marathon Asia 2017, which was held in Singapore earlier this year. The ceremony was held under the auspices of HH Sayyida Dr Mona bint Fahd al Said, assistant vice-chancellor for international cooperation, Sultan Qaboos University. The teams from Sultan […]