Category: Uncategorized

Ooredoo signs deal with OADC for cloud services

Reinforcing its role as the digital partner of choice to Oman’s leading companies, Ooredoo signed an agreement with Oman Aquaculture Development Company (OADC) to provide them with a full-range of cloud-based data services. The agreement comes just one month after the introduction of Ooredoo’s first locally hosted, enterprise-class Infrastructure as a Service (IaaS) virtual server, […]

Oman’s public expenditure grows by 5.6 per cent

Oman’s public finance expenditure grew by 5.6 per cent to reach OMR9.42 billion by the end of October 2017, compared to OMR8.92 billion during the corresponding period last year, according to data released by the National Centre for Statistics and Information. Gross revenue grew by 19.2 per cent to hit OMR6.57 billion by the end […]

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 […]

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 […]

CMA clears RO5mn rights issue of National Pharmaceuticals

National Pharmaceutical Industries Company plans to raise its capital by OMR5 million by way of a rights issue. The company has received approval from the Capital Market Authority (CMA) for the rights issue and accordingly, 50 million shares will be issued to the existing shareholders at a price of 102 baisas per share. The board […]

PDO hosts first auditors’ day in Oman

Petroleum Development Oman (PDO) has organised the first Auditors’ Day event in Oman, bringing together governance and assurance experts from across the Sultanate. Around 60 internal audit managers and specialists from both the public and the private sectors attended the event at PDO’s Learning and Development Centre. The objective was to establish a national auditing platform to […]

PDO launches ICV awards

Petroleum Development Oman (PDO) is launching its In–Country Value (ICV) Awards today to celebrate businesses and organisations which have gone the extra mile to support Omani economic development. The launch coincides with the fourth anniversary of the launch of the ICV Blueprint Strategy 2013-2020 which aims to develop a competitive and sustainable local supply market […]

Brokerage firms back MCDC’s share offer

Several Omani research analysts from brokerage houses have backed the initial public offering of Muscat City Desalination Company (MCDC), which will close the one-month subscription of its share offer on December 18. These brokerage firms include United Securities, Gulf Baader Capital markets, Al Maha Financial Services, Ubhar Capital and Horizons Capital. In its research note, […]

PEIE organises promotional campaign in India

An extensive promotional meeting was organised by the Public Establishment for Industrial Estates (PEIE) in Bangalore and Chennai in India, where a number of open discussion sessions and meetings were held in the presence of leading businessmen and investors from inside and outside of India. The businessmen and investors were acquainted with the investment opportunities […]