Category: Zighlights

Banking & Finance
Commercial banks perform well in Q1

  Commercial banks in Oman performed well during the first quarter of 2017 despite the difficult economic challenges facing the global banking sector. Net profits at the six commercial banks listed on the Muscat Securities Market (MSM) increased to OMR87.4 million, from OMR85.9 million during the same period last year. The banks also posted growth […]

Oman’s inflation in first quarter rises to 2.33 per cent

Oman’s average annual inflation based on consumer price index (CPI) during January- March 2017 period stood at 2.33 per cent mainly due to revision in fuel prices, transport costs, education and other user fees, according to the monthly report released by the Central Bank of Oman. The financial position of the banks in Oman in […]

Banking & Finance
Oman’s first Sukuk programme by Meethaq opens for subscription

Meethaq, the Islamic banking window of Bank Muscat, has launched the Sultanate’s first Sukuk programme. The maiden RO25 million issuance, open for subscription from May 21 till June 1, is part of a larger RO 100 million Sukuk programme for retail and institutional investors. The debut Sukuk issuance for RO 25 million comes with a green […]

Shifting Dynamics

  OER Summit explores new imperatives in HR and finance.  HE Dr Rasheed bin Al Safi Huraibi, Chairman, Oman Tender Board, presents OER Top20 and Excellence Awards at the Summit CEOs, CFOs, senior HR executives and international and GCC-based industry experts discussed a range of business solutions related to cash flow management, disruptive technology, performance […]

Aqar launches Q Centro convenient shopping centre
Aqar launches Q Centro convenient shopping centre

Aqar, a leading real estate developer in the Sultanate, has launched a modern concept in community retail centre called Q series brand. As part of the initiative to buld convenient stores, the group has launched Q Centro within the Rimal Bausher real estate project. Mohamed bin Abdullah Al Khonji, chairman of Al Khonji Real Estate […]

port salalah
Salalah port achieves record productivity

  The Port of Salalah achieved a record Berth Move Per Hour (BMPH) of 286.5, exceeding the previous record by almost 30 moves per hour. The impressive operation showcased the Port of Salalah team and their capabilities while ensuring the highest level of safety for the staff, according to a press release. “With the growing […]

scaffolding factory
PDO-backed scaffolding factory opens in Sohar

A new factory backed by Petroleum Development Oman (PDO) and specialising in providing scaffolding products and services to Omani industry has been officially opened in Sohar under the auspices of Dr Mohamed Al Rumhy, the Minister of Oil and Gas. Triangle Engineering will supply the Sultanate’s oil and gas and construction sectors and act as […]

MEDC shares to be offered to institutional investors; IPO to follow

    Nama Holding will invite Omani institutional investors to sell shares in Muscat Electricity Distribution Company (MEDC) within the next few days, according to a press release. This will be followed by an initial public offering for retail investors, which will be the second phase of the share offer. MEDC is a subsidiary of […]

ASAAS to invest RO7.6mn to build Oman Air crew reporting facility

  Muscat National Development & Investment Company (ASAAS) has signed an agreement with Oman Air for the development and construction of a crew reporting building at Muscat International Airport. The new OMR7.6 million facility is scheduled to be completed by Q1 2018 along with the main airport terminal. Serving the burgeoning requirements of cabin crews […]

Orpic breaks ground for natural gas extraction plant in Fahud

Oman Oil Refineries and Petroleum Industries Company – Orpic celebrated the ground breaking of its engineering, procurement and construction (EPC) of Liwa Plastics Industries Complex (LPIC) Project- Package 3 in Fahud. Orpic lays the foundation of the $688mn EPC 3 which is the natural gas liquids (NGL) extraction plant, following the foundation of $2.8bn EPC […]

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