Category: COMPANIES

COMPANIES
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Setting standards

A round-table discussion on the Distribution Code Review Panel (DCRP) organised by Nama Group and OER underlines the need for safeguarding the rights of electricity consumers in addition to reviewing Oman Electrical Standards (OES) to align with the current needs of the electricity sector   PARTICIPANTS Eng. Sultan Said Al Qatabi, Manager, DCRP   Eng. Hassan Al Abduwani, […]

Tibiaan ramps up executive line-up with two high-level hires

Well-known real estate firm Tibiaan Properties has beefed up its frontline sales and administrative line-up with the recruitment of two talented executives, both equipped with the experience and skills to further fuel the company’s growth ambitions. Ali Al-Hinaai, an Omani Projects & Admin professional, joins Tibiaan as Vice President – Property Management, affirming the company’s […]

COMPANIES
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BEST PERFORMING COMPANIES HOG LIMELIGHT AT AIWA AWARDS 2017

The traditional industry leaders and fast growing younger companies walked away as winners in the annual AIWA Awards for Best Performing Companies, held on August 28. This year marked the seventh edition of the annual AIWA Awards. Top five best performing companies, based on their performance on select seven financial parameters in the financial year […]

COMPANIES
Duqm
Duqm authority signs RO199mn contract to build liquid berth

Duqm special economic zone authority on Wednesday signed a OMR199.1 million-engineering, procurement and construction (EPC) contract with Boskalis Westminster (Oman) for building a liquid berth at Duqm. The planned liquid berth will enable Duqm Port to export refined petroleum products and add value in hydrocarbon chain. As per the agreement, Boskalis Westminster (Oman) will carry […]

COMPANIES
CEO S VENKATACHALAM
National Life net profit soars 303 per cent

National Life and General Insurance Company (National Life), a leading composite insurer in Oman, said its profit after tax grew by 303 per cent toRO4.70mn for the first half of 2017, from RO1.16mn in the first half of 2016. Thus, National Life has already exceeded the net profit of the entire year of 2016. National Life […]

COMPANIES
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Raysut shareholders approve proposal to sell Oman Portuguese Cement

Raysut Cement said its shareholders have approved a proposal to sell Oman Portuguese Cement Products Co. to Opal Development Co.  The decision was taken at an extraordinary general meeting of the company held on July 25, Raysut Cement said in a disclosure statement posted on the Muscat Securities Market (MSM) website. Meanwhile, earlier this month, […]

COMPANIES
CMA
Al Ahlia IPO gets encouraging response

Al Ahlia Insurance Company’s initial public offering, which opened for subscription on July 4 2017, has been very well received by the market and attracted positive feedback from investors following the company’s meetings with some of the most influential investors and research analysts in the Sultanate. Following the successful meeting of the company’s management with […]

Banking & Finance
MSM
CMA reviews approval norms of insurance products

Oman’s Capital Market Authority (CMA) has organised a workshop to review the directives for insurance products and an approval mechanism. The event was attended by representatives of national and foreign insurance firms operating in the Sultanate as a prelude for the implementation of updated directives. The workshop highlighted the key legal requirements from insurers on […]

Muscat Gases to sell stake in firm to Air Products

Muscat Gases Company said its shareholders have approved a proposal to set up United Industrial Gases Company LLC and transfer the company’s industrial gas business to the new limited liability firm. Muscat Gases will sell 70 per cent of the issued share capital in United Industrial Gases to Air Products Leasing B V in line […]

COMPANIES
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OTTCO to develop Ras Markaz crude oil storage terminal

The Special Economic Zone Authority at Duqm (Sezad) has granted Oman Tank Terminal Company (OTTCO) a usufruct right to construct Ras Markaz crude oil storage terminal. OTTCO is one of Oman Oil Company’s subsidiaries, the investment arm for the Sultanate of Oman in the field of oil and gas industry. The agreement was executed on […]