Category: News

Lee Chee Khian
Building Blocks of Sustainable Development

Lee Chee Khian, CEO of Special Economic Zone Authority at Duqm, talks about how the region is getting kitted out to attract foreign investors and emerge as Oman’s manufacturing hub How is manufacturing sector going to contribute to Oman’s future economic development? And how Duqm is going to be an enabler of this transition? Currently […]

Banking & Finance
CBO raises RO47mn from treasury bills

  Oman’s central bank has raised OMR47.27 million by way of issuing government treasury bills. The total value of the allotted treasury bills amounted to OMR47.27 million, for a maturity period of 91 days, from May 31 to August 30, 2017. The average accepted price reached 99.729 for every OMR100 while the minimum accepted price […]

Banking & Finance
Commercial banks perform well in Q1

  Commercial banks in Oman performed well during the first quarter of 2017 despite the difficult economic challenges facing the global banking sector. Net profits at the six commercial banks listed on the Muscat Securities Market (MSM) increased to OMR87.4 million, from OMR85.9 million during the same period last year. The banks also posted growth […]

Oman’s inflation in first quarter rises to 2.33 per cent

Oman’s average annual inflation based on consumer price index (CPI) during January- March 2017 period stood at 2.33 per cent mainly due to revision in fuel prices, transport costs, education and other user fees, according to the monthly report released by the Central Bank of Oman. The financial position of the banks in Oman in […]

Banking & Finance
Oman’s first Sukuk programme by Meethaq opens for subscription

Meethaq, the Islamic banking window of Bank Muscat, has launched the Sultanate’s first Sukuk programme. The maiden RO25 million issuance, open for subscription from May 21 till June 1, is part of a larger RO 100 million Sukuk programme for retail and institutional investors. The debut Sukuk issuance for RO 25 million comes with a green […]

PDO signs $35m deals with Omani firms

Petroleum Development Oman (PDO) has signed three contracts worth $35 million with Omani firms for the supply and servicing of compressors. The deals are a further example of the company’s commitment to in-country value (ICV) to retain more of the oil and gas industry’s wealth in the Sultanate and develop local supply chains. PDO has […]

Health Care
Neopharma invests OMR92 million in pharmaceutical plant, clinical studies
Neopharma invests RO92mn in pharmaceutical plant, clinical studies

Neopharma, one of region’s leading pharmaceutical manufacturing companies, has invested a total of OMR92 million towards diabetes management in the Gulf Cooperation Council (GCC) and global markets. These investments include OMR10 million in a state-of-the-art Japanese factory, OMR28 million in the acquisition of patents and licenses and an additional investment in clinical studies amounting to […]

Aqar launches Q Centro convenient shopping centre
Aqar launches Q Centro convenient shopping centre

Aqar, a leading real estate developer in the Sultanate, has launched a modern concept in community retail centre called Q series brand. As part of the initiative to buld convenient stores, the group has launched Q Centro within the Rimal Bausher real estate project. Mohamed bin Abdullah Al Khonji, chairman of Al Khonji Real Estate […]

Banking & Finance
PEIE signs RO50m finance deal with BankDhofar

Public Establishment for Industrial Estates (PEIE) has signed an agreement with BankDhofar to provide OMR50 million to finance several infrastructure projects undertaken by the PEIE in different industrial estates. Eng. Ahmed bin Hassan Al Dheeb, undersecretary at the Ministry of Commerce and Industry and chairman of PEIE, said that the agreement with BankDhofar aims at […]

Savannah Resources submits final mine application in Oman

Savannah Resources said it has submitted the Environmental Impact Assessment (EIA) for the Mahab 4 copper mine development. This completes the final permitting submission requirement for mining licence applications at both its Mahab 4 and Maqail South deposits, which are located in Block 5 in Oman. Savannah is a 65 per cent shareholder in the […]

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