Category: Uncategorized

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 […]

Golden Group hotel
Movenpick to manage Golden Group’s hotel at Al Mawaleh

Golden Group Holding  signed a hotel management agreement with Movenpick Hotels & Resorts to manage Movenpick Hotel Muscat at Al Mawaleh within the mixed-use project. The project includes a four-star Movenpick Hotel, modern offices, luxury apartments and retail outlets. The project has a total area of 16,000 square metres and a total investment of OMR60 […]

Omantel wins telecom deal of the year award for Zain stake acquisition

Omantel was recently awarded TMT M&A Emerging Markets Telecom Deal of the Year for 2017 at the TMT Finance M&A Awards ceremony held in London. The award was presented to Omantel for its acquisition of 22 per cent stake in Zain Group for a total value of $2.2bn. The transaction consisted of the acquisition of […]