Category: Zighlights

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 […]

COMPANIES
Ashok Hariharan
KPMG encourages companies to prepare for value added tax

Companies in Oman can learn from the experience of Saudi Arabia and the United Arab Emirates (UAE) when they implement Value Added Tax (VAT) in January 2018 and thereby avoid potential pitfalls, according experts at a recent seminar organised by the Entrepreneur’s Organisation of Oman in collaboration with KPMG. The implications of introducing VAT in […]

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 […]

Insurance
Vision insurance
Vision acquires Dubai-based asset management firm

Vision Investment Services (Vision) has acquired A/T Capital Management (A/T Capital), an asset management firm based in the Dubai International Financial Centre (DIFC). A/T Capital was established in 2008 and invests in Middle Eastern equity markets, mainly for international institutional investors. A/T Capital has had a consistent track record of generating excess returns in regional […]

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 […]

ECONOMY
Orpic
Orpic’s Mina Al Fahal Refinery to undergo major turnaround

A major planned turnaround and maintenance activity is currently being undertaken at Oman Oil Refineries and Petroleum Industries Company’s (Orpic’s) Mina Al Fahal Refinery for 45 days, between October 3 and November 16, 2017. This shutdown, to ensure Orpic’s operations run safely and smoothly at all times, will be used to execute a number of […]

Technology
Ooredoo CEO
Ooredoo to expand 4G coverage to 90 per cent with 1,000 new locations

Ooredoo is taking data experience leadership to the next level with a massive network boost, digital experience and the launch of a group-wide brand campaign: Enjoy the Internet.   The company will be adding a massive 1,000 new locations to expand its 4G coverage to cover 90 per cent. Addressing a press conference recently Ooredoo Oman […]

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 […]