Category: Zighlights

COMPANIES
Galfar
Galfar wins RO23mn arbitration against haya water

Galfar Engineering and Contracting Company has won an arbitration award totaling over RO23mn against Haya Water regarding a dispute over Seeb sewage project.  Galfar said in a disclosure to Muscat Securities Market (MSM), “We would like to inform our esteemed shareholders and investors that an arbitration award was issued in the second of the four […]

COMPANIES
ahmed-al-musalmi
Al Musalmi resigns as NBO CEO

CEO of the National Bank of Oman (NBO), Ahmed bin Jaffar Al Musalmi has resigned from his post, the bank confirmed on Thursday. In a statement released online, the bank said that its board of directors had accepted Musalmi’s resignation and that chief investment officer and general manager, Sayyid Wasfi bin Jamshid Al Said had […]

COMPANIES
Omantel
Omantel posts RO107mn net profit

Oman Telecommunications Company (Omantel), the Sultanate’s biggest telecommunication firm, has posted a net profit of OMR106.80 million for 2017, down from OMR115.80 million registered for the previous year. Following the acquisition of a controlling stake in Kuwait’s Mobile Telecommunications Company (Zain Group), Omantel group results include Zain results for the period from November 15, 2017 […]

Oil&Gas
Duqm refinery
Duqm Refinery signs EPC contracts

Duqm Refinery, a joint venture equally owned by Oman Oil Company and Kuwait Petroleum International, recently signed contracts with its engineering, procurement and construction (EPC) contractors for building the 230,000 barrels per day (bpd)-refinery in Duqm. This was a follow-up from the intention to award EPC contracts announced by the project in mid-2017, according to […]

ECONOMY
PDO 2
PDO to sponsor vocational training of 1,500 Omani jobseekers

Petroleum Development Oman (PDO) has unveiled a significant new employment commitment by sponsoring the vocational training of 1,500 Omani jobseekers to work in the security industry. The on-the-job training will last for two months with suitable candidates learning vital security and safety skills. On successful completion of the programme, they will take up employment with […]

Industry
Sohar Free Zone
Sohar Port to participate in Gulfood expo

Sohar Port and Freezone is participating in Gulfood 2018, which will begin on February 18 and will continue until February 22 at the Dubai World Trade Centre. Gulfood is the region’s largest annual food, beverage, and hospitality exhibition and attracts food and beverage professionals from around the world. “It is a great platform to promote […]

ECONOMY
F&M
F&M signs contract with Qatar-based ASTAD

Oman’s leading Design Consultants, F&M Middle East Engineering Consultancy, recently signed a memorandum of understanding (MOU) with Qatar-based Project Management Consultants, ASTAD. The MoU not only not only paves the way for joint strategic objectives towards delivering projects but also extends mutual business opportunities in engineering consultancy, construction management, design and project management. Held at […]

COMPANIES
Al Argan
Alargan Towell appoints Mohammed Al Abri as new CEO

The board of directors of Alargan Towell Investment Company, a leading real estate development company in the Sultanate, announced the appointment of Mohammed bin Mousa Al Abri as chief executive officer as of January 30, 2018. “We are pleased to welcome Mohammed Al Abri who brings a vast experience in the real estate market in […]

Banking & Finance
IMF
IMF MD meets CBO Executive President

Christine Lagarde, managing director of the International Monetary Fund (IMF), is on a short visit to the Sultanate. Tahir bin Salim bin Abdullah Al Amri, the executive president of the Central Bank of Oman (CBO), received Lagarde, and her delegation, on Monday at Muscat International Airport, accompanied by a group of CBO officials, said a […]

Banking & Finance
Meethaq
Meethaq signs RO16mn term finance agreements with ASAAS

Meethaq, the Islamic banking window of Bank Muscat, and two subsidiary companies of Muscat National Development and Investment Company (ASAAS) signed term finance agreements with a total value of RO16mn for an upscale 3 star hotel in Muscat and a crew reporting terminal at the airport. Sulaiman Al Harthy, Deputy Chief Executive Officer – Islamic […]