author - oman observer

Muscat: The total outstanding credit extended by conventional and Islamic banks (Other Depository Corporations or ODCs) grew by 3.7 per cent to RO 26.4 billion as of March 31, 2020, according to the...

Oman Arab Bank (OAB) has announced that it was been given the green-light by the Central Bank of Oman (CBO) to acquire Alizz Islamic Bank SAOG (AIB) and to eventually become a publicly listed...

China remained the top destination for Omani crude exports in March 2020, lifting 92.2 per cent of exports averaging 738,348 barrels per day (bpd) during the month, the Ministry of Oil and Gas...

Strategic & Precious Metals Processing (SPMP) Oman, the first antimony and gold ore exporter and the only gold processing facility in Oman, announced that its ramp-up of antimony production is...

Tethys Oil AB, through its wholly-owned subsidiary Tethys Oil Oman Onshore Limited, has put in place plans to enable reduced expenditure in 2020 in response to the sharp drop in oil prices and...

Muscat: The total outstanding credit extended by other depository corporations (ODCs) in the Sultanate – comprising conventional and Islamic banks -- grew by 2.5 per cent RO 25.9 billion at the end...

ACWA Power, along with project partners Gulf Investment Corporation (GIC) and the Alternative Energy Projects Co (AEPC), announced it had secured $275 million from six lenders to complete the finance...

MUSCAT, MARCH 15 - The total outstanding credit extended by banks and financial institutions in the Sultanate — also known as other depository corporations (ODCs) — grew by 3.2 per cent RO 25.9...

Omani listed firm National Biscuit Industries Ltd (Nabil) revealed here on Wednesday that it was swindled to the tune of RO 70,000 in an online scam. The announcement came in a disclosure to the...

MUSCAT, MARCH 8 - Australian submarine cable infrastructure specialist SUB.CO has announced that its Oman Australia Cable (OAC) project has entered contract in force status (CIF) with its final system...

MUSCAT, MARCH 8 - Brazilian food giant BRF is set to boost poultry export exports to the Sultanate following a visit by an Omani food safety delegation to the company’s facilities. BRF, the...

MUSCAT, FEB 29 - The global coronavirus epidemic has forced the deferment of a number of conferences and exhibitions originally scheduled to be held in Muscat over the course of the next two months in...

Wyndham Hotels & Resorts, the world’s largest hotel franchising company, is set to open its second property in the Sultanate of Oman in less than a year. Ramada Encore by Wyndham Muscat Al...

China was the top destination for Omani crude exports in January 2020, lifting 85.96 per cent of total exports averaging 756,586 barrels per day (bpd) during the month, the Ministry of Oil & Gas...

Total outstanding credit extended by conventional and Islamic banks in the Sultanate amounted to RO 25.8 billion at the end of December 2019, entailing a 3.1 per cent increase over the corresponding...

Telecom services provider Ooredoo has posted 0.7 per cent growth in revenues for the year 2019, which climbed to RO 285.5 million compared with RO 283.6 million in 2018. The growth was driven by...

COFIDES, the Spanish development finance institution, has supported Spanish water services developer Sacyr Agua with funding support for a major desalination plant being built by the latter in...

MUSCAT, JAN 18 - Alizz Islamic Bank has approved the swap ratio proposed by Oman Arab Bank (OAB) in a potential merger between the two banks. The swap ratio of around 81 per cent / 19 per cent for the...

MUSCAT, JAN 15 - Outstanding credit extended by conventional and Islamic banks (other depository corporations) in the Sultanate rose 3 per cent to RO 25.8 billion as of end November 2019, compared to...

Muscat: China remained the dominant market for Oman crude exports in December 2019, lifting 82.76 per cent of total exports of 28.561 million barrels for the month, Oman’s Ministry of Oil and Gas...