Category: INDUSTRY

Banking & Finance
Bank Dhofar
BankDhofar signs financing deal with SSDC

BankDhofar signed an agreement with the Salalah Sanitary Drainage Services Company (SSDC) to finance the expansion of its Raysut treatment plant. The finance agreement was signed at the Salalah Sanitary Drainage Services Company’s headquarters in the Governorate of Dhofar. Representing BankDhofar at the signing ceremony was Kamal Hassan Al Murazza, general manager and chief wholesale […]

Ceramic Al Hael launches brand identity, factory to start production by Q1 2018
Ceramic Al Hael factory to start production by Q1 2018

Ceramic Al Hael Company International (CACI) celebrated the launch of its new brand identity. Valued at around RO40mn, CACI is one of the largest ceramic and porcelain tiles manufacturers in Oman. The ceremony was held under the patronage of HH Sayyida Dr Muna bint Fahad bin Mahmoud al Said, and was attended by several senior […]

PDO opens three public Majlises in Shaleem

Petroleum Development Oman (PDO) has officially inaugurated three public majlises in Wadi Aarah, Zakher and Fatkhait at wilayat Shaleem in an event which was attended by PDO External Affairs and Value Creation Director Abdul Amir bin Abdul Hussain Al Ajmi in the presence of the Wali of Shaleem His Excellency Sheikh Mohamed Berham Ba Omer, […]

Banking & Finance
Robust growth

The total outstanding credit extended to banks in Oman by other depository corporations stood at OMR23.3 billion at the end of October 2017, registering a growth of 6.2 per cent over the same period in 2016. The banking sector in Oman continued to witness reasonable growth in both credit and deposits. The combined balance sheet […]

Banking & Finance
ODB’s loan portfolio to touch RO411mn by 2022

Oman Development Bank (ODB) aims to achieve a double digit growth in loan portfolio with its total funding expected to reach OMR411 million by 2022, from the current OMR137 million in 2017. Presenting the new strategy of the ODB for the period between 2018 and 2022, Dr Abdulaziz bin Mohammad Al Hinai, CEO of the ODB. said […]

Octal Petrochemicals FZC
OCTAL drives two projects of Tanfeedh’s petrochemical lab

  OCTAL, the world’s largest integrated PET resin and sheet producer, will be driving two of the five projects identified during the Petrochemical Lab by Tanfeedh, the National Programme for Enhancing Economic Diversification. Mandated to advise on projects that will contribute to the diversification and growth of Oman’s GDP, the Salalah-based export powerhouse will help […]

Banking & Finance
Oman Arab Bank appoints acting CEO

The Board of Directors of Oman Arab Bank (OAB) has announced its endorsement of the CEO Amin Al Husseini’s recommendation to appoint his Deputy Rashad Al Musafir as acting CEO effective from February 1, 2018. The appointment is aligned with the Bank’s strategic transformation that started four years ago under the leadership of its CEO, […]

Sun Industrial
Sur Industrial Estate honours outstanding factories

Sur Industrial Estate, which pertains to the Public Establishment for Industrial Estates (PEIE), organised recently an event to honour factories that excelled in 2017. The event comprised a workshop highlighting the significance of insurance coverage for industrial firms. This event came in line with the annual events held by Sur Industrial Estate in accordance with […]

Freezone Sohar
New depot for cleaning tanks to open in Sohar Freezone

Joint Tank Services (JTS) will establish a new depot in Sohar Freezone on a 20,000 square metre green-field site. The tailor-made facility will be dedicated to cleaning, storage, repairs and support services for ISO tanks in line with the phenomenal growth of tank container traffic in Sohar Port, said a press release. JTS’s service quality […]

Banking & Finance
Muscat Capital launches real estate fund

Muscat Capital, the Saudi-based investment banking subsidiary of Bank Muscat, announced the successful closure of its first Real Estate Investment Traded (REIT) fund. The new Al Masha’ar Fund with a size of 572 million Saudi riyals has been launched with an objective to invest in high income yielding rental properties in the Holy cities of […]