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Category: ECONOMY

Muscat bourse reconstitutes Sharia Index

Oman’s Muscat Securities Market has re-constituted its Sharia Index by replacing two companies in the basket with new firms. The companies that are newly included in the index are Oman Flour Mills and Takaful Oman Insurance, while National Biscuit Industries and Oman Refreshment have been removed from the basket of stocks that constitute the index, […]

Listed companies distribute RO418mn dividend

Listed firms on the Muscat Securities Market have announced that they will distribute OMR417.6 million worth of dividend to their shareholders. The cash dividends approved by the annual general meetings that were held in March stood at about OMR360 million. Still, a number of companies announced that they will distribute interim cash dividends in the […]

New dry port to come up in Al Mazyunah Free Zone

The foundation stone for a new dry port project, named ‘Sasco’ was laid at Al Mazyunah Free Zone yesterday under the auspices of Shaikh Abdullah bin Aqeel al Ibrahim, acting Deputy Governor of Dhofar. The ceremony was held in the presence of Sheikh Amer bin Salim Kashoob, Wali of Al Mazyunah, Hilal bin Hamad Al […]

Net earnings of major Omani firms poised to slip 20 per cent

Major companies listed on the Muscat Securities Market (MSM), which constitute the MSM30 index, are expected to report a 20 per cent year-on-year fall in net earnings to OMR134.1 million for the first quarter of 2017, according to an analysis conducted by Gulf Baader Capital Markets. However, the combined revenue of MSM30 companies is estimated […]

State Council okays proposal to amend economic law

The State Council session on Wednesday, examined and approved the proposal on its study of the Education and Research Committee titled ‘Revising the Duplication of Programmes and Majors atHIGHER EDUCATION Institutions’. It also gave assent to the proposal by the Economic Committee to amend the economic development law issued by the Royal Decree No 9/75. […]

Investcorp’s portfolio firm acquires majority stake in Omani company

Investcorp’s portfolio company, NDT Corrosion Control Services Co. (NDT CCS), announced the acquisition of a majority stake in Hi-Tech Inspection Services, Oman’s largest provider of industrial non-destructive testing (NDT) and inspection services. Hi-Tech’s founders, Al Sulaimi Group Holding, established the company in 1996, according to a press release. Investcorp acquired a majority stake in NDT […]

Ministry plans to cancel expired commercial registrations

The Ministry of Commerce and Industry will cancel a number of expired commercial registrations which have not been renewed. The ministry will transfer these registrations to the inactive establishments’ list and stop their transactions with public and private agencies relatedTO INVEST Easy Portal. The ministry has given the owners of institutions and companies who have […]

Catapulting ahead

A three-day community exhibition held by the National Programme for Enhancing Economic Diversification, Tanfeedh to gain feedback on its 121 proposed projects and initiatives attracted around 8,000 visitors   The National Programme for Enhancing Economic Diversification (Tanfeedh) held a three-day community engagement exhibition recently, gaining feedback from around 8,000 visitors on 121 proposed projects and […]

Solution for growth

EY has rolled out a new business model called ‘ EY Growth Solutions’, aimed at helping  midmarket companies adapt to economic changes such as VAT, diversification, digital innovation, and changing consumer sentiment Whenever there is a period of economic downturn, mid-sized companies are bound to bear the brunt of it, with direct impact on their […]

Investing for social development  

Since its inception, Oman LNG has placed significant emphasis on contributing to the growth and development of Oman and its people in various spheres Oman Liquefied Natural Gas LLC (Oman LNG) is a corporately and socially responsible organisation through creating benefits to the employees, stakeholders and community. The company has a well-designed alignment between CSR […]


    Pursuing a collaborative framework

    Abdulrahman Salim Al Hatmi, Group CEO, ASYAD talks about the Sultanate of Oman Logistics Strategy 2040 and its efforts in achieving the enshrined goals.  Mayank Singh reports What is ASYAD’s mandate and vision as Oman’s leading logistics group and what has been achieved in pursuance of these objectives? ASYAD has two primary mandates; the first is […]

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    Exemplary services

    Maqbool Al Wahaibi, CEO, Oman Data Park & Mazen Matar, GM- Cloud Services, Oman Data Park talk about company’s exemplary services in running and operating three data centers in tier-three category, serving nine leading banks in the country, along with 500 plus enterprises and customers in various sectors.

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What is it like working for Elon Musk?

If you can get a job done yesterday, then, and only then can you work with Elon Musk, founder, and CEO of both Tesla and SpaceX. For someone who is into making rockets and cars, wouldn’t his speed of work be like lightning? Musk is also the co-founder and chairman of an artificial intelligence research, non-profit […]

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