Category: News

CMA to sign agreement with Lebanese market regulator

A Memorandum of Understanding (MoU) will be signed between the Capital Market Authority (CMA) and the Capital Markets Authority of Lebanon for mutual cooperation and exchange of information. This will strengthen cooperation in the implementation of laws relating to the issuance of securities and other investment instruments, supervision of stock markets, clearing and settlements activities, […]

ONEIC to install 200 Bank Muscat PoS terminals

    Bank Muscat and Oman National Engineering & Investment Company (ONEIC) have signed an agreement to facilitate PoS card payment across the network of ONEIC outlets in Oman. Waleed Al Hashar, Deputy Chief Executive Officer of Bank Muscat, and Dr. Rashid Mohammad Al Ghailani, Chief Executive Officer of ONEIC, signed the agreement at the […]

Dqum refinery
Duqm Refinery hires Credit Agricole to advise on fundraising

Oman’s Duqm Refinery & Petrochemical Co. hired Credit Agricole SA to advise on fundraising for its $6bn project, according to two people with knowledge of the plan. Credit Agricole will help the Omani company raise more than $2 billion in loans, said the people, who asked not to be identified because the information is not […]

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Oman Air welcomes new Boeing B737-800

Oman Air has announced that a new Boeing B737-800 aircraft has joined its fleet on March 15. This new aircraft will be used on short and medium haul routes and has a capacity of 162 seats, with 12 Business class seats of seat pitch 46 inches and 150 Economy class seats with seat pitch 30 inches. […]

Galfar’s loss increases to RO10.8mn on additional impairment

Galfar Engineering & Contracting Company has said that the group’s consolidated losses have been revised to OMR10.82 million for 2016, after adjusting an additional impairment of receivables of OMR4.5 million and investment of OMR2 million for another associate company in India. This was assessed by the auditors in line with IFRS provisions, according to a disclosure […]

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Oman Air launches new route to Nairobi

Oman Air, the national carrier of the sultanate of Oman, announced the launch of its new four times weekly flight from Muscat to the Kenyan capital of Nairobi, starting March 27, 2017; the latest move in the airline’s ambitious and dynamic programme of fleet and network expansion. The service will be operated by a Boeing […]

Ooredoo signs MoU with Al Raffd Fund to support SMEs

Ooredoo has signed a memorandum of understanding (MoU) to provide support to Small and Medium Enterprises (SMEs) registered with Al Raffd Fund. The MoU was signed by Ian Dench, chief executive officer (CEO) of Ooredoo, and Tariq bin Sulaiman Al Farsi, CEO of Al Raffd Fund, during a special ceremony at the fund’s headquarters in […]

Omani banks plan to raise capital by issuing bonus shares

Omani banks listed on the Muscat Securities Market plan to expand their capital base. Four banks have submitted recommendations during extraordinary general meetings (EGMs) to increase their capital by distributing bonus shares among shareholders. The gross capital of the six listed commercial banks by December-end of 2016 stood at OMR1.090 billion; reflecting a growth of […]

Salalah Methanol seeks $720mn loan from banks

Oman’s Salalah Methanol Co. has asked banks for a $720 million syndicated loan that the state-run petrochemical company would use for a new ammonia plant and refinancing purposes, banking sources said. Bank Dhofar and Standard Chartered are advising the company on the financing, which is expected to have a 12-year maturity. Banks are expected to […]

Duqm authority signs training agreement with PDO

A Memorandum of Understanding (MoU) for cooperation in training job seekers has been signed between the Special Economic Zone Authority in Duqm (Sezad) and Petroleum Development Oman. The MoU aims to qualify young Omanis to get proper job opportunities in various projects within theDuqm free zone. According to the agreement, the Duqm authority will identify […]

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