Category: News

ECONOMY
Mazoon Dairy
Foundation stone laid for RO100mn Mazoon Dairy project

Oman’s Minister of Agriculture, Fuad bin Jaafar Al Sajwani, has presided over a foundation stone laying ceremony for Mazoon Dairy’s flagship dairy project at Al Sunayah. The event formally marked the official launch of the main construction work on the state of the art OMR100 million project. The minister was joined by the members of […]

Banking & Finance
CBO
Central bank raises OMR63m through treasury bills

Oman’s central bank raised OMR62.81 million by way of a treasury bill. The treasury bill has a maturity period of 91days, from October 18 to January 17, 2018. The average accepted price reached 99.711 for every OMR100 while the minimum accepted price arrived at 99.705 per OMR100. The average discount rate and the average yield […]

Energy
Muscat-Sohar pipeline, Al Jefnain terminal start operation
Muscat-Sohar pipeline, Al Jefnain terminal start operation

Commercial operations at the $320 million-Muscat Sohar Product Pipeline (MSPP) project through its main fuel terminal in Al Jefnain have been started by Oman Oil Refineries and Petroleum Industries Company (Orpic). The $320 million investment is one of Orpic’s strategic growth projects, which will deliver more than 50 per cent of Oman’s fuel via the […]

ECONOMY
CMA
Oman Qatar Insurance allots shares

Oman’s stock market watchdog Capital Market Authority has approved the allocation of Oman Qatar Insurance Company in accordance with an allocation policy. The shares are allocated to the small investors category at 100 per cent, while the second category of major investors are allocated 63.224 per cent on pro-rata basis. The total volume of shares […]

ECONOMY
Wind Farm
OPWP floats tender for wind resource assessment campaign

A wind resource assessment campaign will be conducted by Oman Power and Water Procurement Company (OPWP). For conducting the campaign, OPWP has floated a tender seeking proposals from bidders to carry out the campaign. The campaign will conducted in multiple locations in the country and include provision of equipment/sensors, installation, operation and maintenance and data […]

ECONOMY
inflation
Inflation in Oman at 1.60 per cent in September

Oman’s year-on-year inflation, based on the consumer price index for September 2017 touched 1.60 per cent, driven by a rise in transport cost, furnishings, household equipment and routine household maintenance, according to the data released by the National Centre for Statistics and Information (NCSI). The major cause of the inflation was a 3.45 per cent […]

News
Shell
Shell seeks buyers for Oman field stake

Royal Dutch Shell is seeking to sell its 17 per cent stake in the Mukhaizna oil field in Oman, which could fetch up to $200 million, banking sources said. The sale process is led by investment bank Rothschild, the sources said. Shell and Rothschild did not respond to requests for comment. The Mukhaizna heavy oil […]

Manufacturing
Duqm
SEZAD signs land leasing agreement for RO225mn cement plant

  A land lease agreement for building a large cement plant in Duqm with a capital expenditure of OMR225 million was signed by the Special Economic Zone Authority of Duqm (SEZAD) with Al Wusta Cement Company LLC. Al Wusta Cement Company LLC is promoted by Raysut Cement Company and Oman Cement Company. According to a […]

ECONOMY
NBC Iran delegation
Iranian delegation visits the National Business Centre

A high profile delegation specialised in science and technology sector in Iran visited recently the National Business Centre (NBC) at the Knowledge Oasis Muscat. The delegates were briefed on the vision, objectives and services of NBC delivered to the entrepreneurs. The National Business Centre was launched by the Public Establishment for Industrial Estates (PEIE) in […]

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 […]