Category: ECONOMY

ECONOMY
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Never waste a crisis

OER Business Summit 2017 calls for collaborative efforts and push for public-private partnerships Industry leaders at the OER Business Summit 2017 called for collaborative efforts between various stakeholders, concerted push for public-private partnerships and transparency to drive forward growth in the Sultanate. Organised by Oman Economic Review (OER), the Sultanate’s premium and must read business […]

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 […]

ECONOMY
Duqm Developement Company
Duqm Development Company signs agreement with India’s Adani Ports

  A Memorandum of Understanding (MoU) was recently signed by the Duqm Development Company SAOC (Tatweer) with India’s Adani Ports and Special Economic Zone Limited in New Delhi. The agreement is aimed at exploring better investment opportunities in the Special Economic Zone at Duqm. The pact also stipulates on setting an official and framework for […]

ECONOMY
Eng. Isam Al Zadjali, Chief Executive Officer of Oman Oil Company
OOCEP closes $1bn pre-export finance facility

Oman Oil Company Exploration & Production (OOCEP) has announced the successful signing of a $1bn loan facility to fund its continued growth and expansion. The new financing agreement is structured as a crude oil pre-export facility with a tenor of five years and contains an accordion option to allow additional funding of $500mn if required. […]

Sabco Group launches sports agency to boost industry in Oman

Sabco Group has announced the creation of a new company in the Sabco Group. Sabco Sports has been set up to lead the growing sports industry in Oman and to take advantage of the huge growth in sports in the region in the coming years. Sabco Sports will be Oman’s premier sports agency, focusing on […]

COMPANIES
Muriya Image 2
Muriya launches phase II of Lagoons in Hawana Salalah

  Muriya’s flagship destination, Hawana Salalah, and Dhofar’s only Integrated Tourism Complex (ITC), sold out Phase I of its new residential project, Lagoons, in just four weeks during its soft launch this August. Phase II of the Lagoons Project has just been launched with a range of freehold properties starting at RO28,000, entitling non-Omani buyers to […]

ECONOMY
CBO
Oman committed to foreign exchange peg, says newly appointed CBO chief

Oman is committed to the rial’s currency peg against the US dollar, said the newly appointed executive president of Central Bank of Oman (CBO) on Sunday. Tahir Salim Al Amri, a former director-general of treasury and accounts at the Ministry of Finance, was speaking to Reuters on the sidelines of a meeting of Arab central […]

Banking & Finance
Al IZZ
Alizz Islamic Bank to finance expansion of Gutech facility

Alizz Islamic Bank has signed an agreement with Oman Educational Services (OES) to finance the expansion of German University of Technology in Oman (GUtech)’s facilities and student accommodation. OES is the owner company of GUtech. As per the agreement, the financing facilities will be used for the construction of an additional academic building at GUtech […]

Banking & Finance
CBO
Bank credit volume exceeds RO20bn till June 2017

The total bank credit of commercial banks in the Sultanate by the end of June 2017 stood at RO20,108.6mn  compared to RO19,348.1mn during the same period of 2016, comprising an increase of 3.9 per cent. The Statistical Quarterly Bulletin issued by the Research and Statistics Department of the Central Bank of Oman (CBO) said that the personal […]