Category: Zighlights

Insurance
Insurance
Oman’s insurance sector contributes 1.63 per cent of GDP

Oman insurance sector contributed 1.63 per cent of the Sultanate’s gross domestic product (GDP) in 2017,  according to the Insurance Market Review 2017  issued by CMA. Highlighting the key events of the sector during FY 2017, the 14th edition of the Insurance Market Review covers indicators such as premiums, indemnities, number of policies, retention ratios, losses and financial indices […]

Rel Estate
wardat al riyam
Al Yousef to build premium residential apartments at Mutrah Bay

Al Yousef Group announced the launch of the first phase of its premium residential apartment project, Wardat Riyam, at Mutrah Bay, overlooking the sea. It is located adjacent to Riyam Park. The announcement was made by Dr Mohamed Bin Musa Al Yousef, Executive Chairman of Al Yousef Group, at a press conference. The developer of […]

Oil&Gas
OTE Petrabangla
OTI signs pacts with Petrobangla to supply LNG

Oman Trading International Limited (OTI) has signed a 10-year agreement with Petrobangla, the government-owned oil company of Bangladesh, to supply liquefied natural gas (LNG) to Bangladesh. OTI will supply a base volume of one million metric tonnes a year after the completion of the first two LNG import terminals currently being constructed in Bangladesh. “This […]

FROM THE PRINT EDITION
Raid
Gaining momentum

The Al Raid Group could very well serve as a role model for other companies in the residential, retail and hospitality sector. Not only has the company been successful with all of its ongoing projects in the present economic scenario, but it has also put together a fantastic blueprint and vision for the future. Excerpts […]

F&B
RR0_5127
Oman Refco moving towards indigenous self-sufficiency

Four years from now, Oman Refco would be indigenously manufacturing all its products here in Oman itself. As of now, more than 88 per cent of the company’s products are manufactured in the Sultanate, while the remaining 12 per cent comes from UAE, Saudi Arabia and Egypt, says CEO, Youssef Ezzikhe, in an interview to […]

FROM THE PRINT EDITION
Top20
Signs of rebound

OER presents its 18th annual review of Oman’s top 20 leading listed companies for the year 2017 As stated in the World Bank Global Economic Prospects report, a broad-based cyclical global recovery is underway, aided by a rebound in investment and trade, against the backdrop of benign financing conditions, generally accommodative policies, improved confidence, and […]

Stock Markets
Oman Bonds and Sukuk market grows to RO 2.63 billion in 2017
Oman Bonds and Sukuk market grows to RO2.63bn

The outstanding market value of the bonds and Sukuk segment of the Muscat Securities Market (MSM) grew a commendable 32 per cent to RO2.63bn at the end of 2017, up from RO1.99bn in 2016, according to the Executive President of the Capital Market Authority (CMA). Shaikh Abdullah bin Salim al Salmi attributed the strong growth […]

Banking & Finance
Bank Muscat
Bank Muscat posts RO44.81mn net profit

Bank Muscat, the flagship financial institution in the Sultanate, announced its preliminary results for three months ending March 31, 2018. The bank posted a net profit of OMR44.81 million for the period, compared to OMR44.23 million reported during the same period in 2017, an increase of 1.3 per cent. The bank’s net interest income from […]

Best Banks in Oman 2018 Survey
CBO
Promising prospects

The OER-GBCM Best Banks in Oman survey 2018 reflects a steady performance despite a challenging business environment The banking industry is going through a process of rapid change and transformation. This is being driven by a multiplicity of factors like myriad  regulations, disruptive models and technologies, enhanced competition and customers with heightened expectations. According to […]

Best NBFCS in Oman 2018 Survey
Best Banks
Tiding over challenges

2017 was a challenging year for non-banking finance companies in Oman. There was stress on the net margin due to the liquidity crunch in the local market and the consequent increase in the cost of funds. Banks’ penetration into vehicle financing and SME funding further reduced the market share forcing NBFCs to offer very competitive […]