Category: ECONOMY



ECONOMY
$20mn curcumin plant
$20mn curcumin plant to come up in Salalah

An agreement to set up the biggest plant in the world for the production of curcumin for food and medical supplements at Salalah Free Zone at a cost of $20 million was signed on Tuesday in Mumbai, India. Fortune Bio Organic factory at Salalah Free Zone will produce more than 12 tons of curcumin and […]

ECONOMY
Asyad
Asyad signs deal with Saudi company to set up Khazaen Economic City

A partnership agreement for the establishment and development of Khazaen City and a memorandum of understanding for the study and development of model residential plots (the pilot plan, Jahloot layout /First Stage) were signed at Oman Convention and Exhibition Centre on Monday, on the sidelines of the opening of Oman Real Estate Expo 2018 (OREX). […]

ECONOMY
Omantel EY
Omantel teams up with EY for advanced cyber security portfolio

Omantel, the premier provider of integrated telecommunications services in the Sultanate, has teamed up with EY, a leading global professional services organisation, to provide advanced Cybersecurity as a Service (CaaS) from Oman to the region. The agreement was signed on the sidelines of Mobile World Congress (MWC) in Barcelona, Spain, and will be effective April […]

ECONOMY
Mazoon
Mazoon Dairy awards three new contracts

Mazoon Dairy, the flagship dairy project of the Sultanate of Oman, has passed another major milestone in its development with the award of three new contracts worth OMR25million. The contracts have been awarded to ARTAT, Al Adrak Trading and Contracting and Tetra Pak to commence the development of its technologically advanced central dairy processing plant […]

ECONOMY
invest corp
Investcorp to launch $100mn fund for Omani Pension Funds

Investcorp, a leading global provider and manager of alternative investments, will launch a $100 million fund dedicated to Oman’s Pension Funds. The Opportunities Fund (the Fund), was announced at an event hosted by the Ministry of Defence Pension Fund in Muscat. The event, which gathered several senior representatives from the Sultanate’s other pension funds, discussed […]

ECONOMY
inflation
Oman’s inflation rises 0.49 per cent in February

The annual inflation rate in Oman for February 2018 increased to 0.49 per cent compared to the same month of the previous year according to the consumer price index (CPI) data released by the National Centre for Statistics and Information (NCSI). The rate declined by 0.05 per cent compared to January 2018. The rise in […]

ECONOMY
PDO
PDO unveils major community funding

Petroleum Development Oman (PDO) has committed to support a raft of new initiatives to benefit communities and boost sustainable development across the Sultanate. The programme includes commitments in the key areas of health and safety, community infrastructure, employability training, charities, and animal welfare. At an official ceremony at PDO’s Muscat headquarters recently, 18 Memorandums of […]

ECONOMY
Lulu India
Lulu Group launches integrated project in India

Retail major Lulu Group has officially launched one of the largest projects of its kind in the south Indian state of Andhra Pradesh. Based on a public-private-partnership (PPP) model, the integrated project comprises a world-class convention centre with a capacity for 7,000 people, a 2 million square feet shopping mall and a luxury hotel on […]

ECONOMY
Port of Salalah
Port of Salalah handles record cargo in Jan 2018

After handling record volumes of 13.58 million tonnes in 2017, the Port of Salalah continued to deliver strong performance in January 2018 by handling 1.55 million tonnes, breaking its previous monthly volume record set just over six months ago. “Our general cargo services business delivered strong growth in January thanks to the plans our commercial […]

ECONOMY
NBC
Oman Oil, Omifco, Omantel launch entrepreneurial platform at NBC

The National Business Centre (NBC) in cooperation with Oman Oil Company (OOC), Oman India Fertilizer Company (Omifco) and Oman Telecommunications Company (Omantel) launched OM.HUB, the entrepreneurial platform at NBC in Knowledge Oasis Muscat, under the patronage of Dr. Ali bin Masoud Al Sunaidy, Minister of Commerce and Industry. The inaugural ceremony also witnessed the signing […]