Ratings boost reflects effective fiscal policies of Omani govt: MoE
The pace at which the Sultanate of Oman has received ratings upgrades from international rating agencies has been welcomed by Omani authorities, notably the Ministry of Economy.On Monday, Fitch...
Oman Fisheries set to kick off commercial fishing operations
Oman Fisheries Company (OFC), a subsidiary of Fisheries Development Oman (FDO), says it is gearing up to commence commercial fishing operations in Omani waters in cooperation with Irish fishing firm...
Sohar Islamic named Mandated Lead Arranger for Oman Cement expansion
MUSCAT: Publicly listed Oman Cement has announced that it has appointed Sohar Islamic Bank as its Mandated Lead Arranger (MLA) to secure the funding necessary to finance the capacity expansion of its...
Array of new industrial projects unveiled for investment
MUSCAT, August 13: A sizable portfolio of investment opportunities in the industrial and manufacturing sector, many of them backed by offtake agreements, has been unveiled for investment by the...
RO 10m Omani abalone farming project launched in Mirbat
The Wilayat of Mirbat in the Dhofar Governorate celebrated on Thursday the inauguration of a prestigious Omani abalone farming project developed by Oman Aquaculture Company at a total cost of RO 10...
Key forum to highlight investment avenues in Dhofar
A much-awaited economic conference spotlighting Dhofar Governorate’s diverse investment potential will now be held during September 14-15, 2022 under the auspices of His Highness Sayyid Marwan bin...
Najd opens up to small and large-scale agricultural investment
MUSCAT: Efforts are underway to open up the promising Najd Agriculture Area in Dhofar Governorate to small and large-scale agricultural investment, a key official of the Ministry of Agricultural,...
Raysut Cement CEO resigns over legal troubles in India
Raysut Cement, the largest cement producer in the Sultanate of Oman, has announced the resignation of its CEO with immediate effect.The resignation, submitted on Tuesday, was approved by the...
Consumer disputes over unpaid labour top recoveries in Al Buraimi
The Statistical Indicators Report issued by the Consumer Protection Department in Al Buraimi has revealed that the amounts recovered, following investigations into consumer complaints, totalled RO...
Gulf Drilling LLC wins 6-well drilling contract from Maha Energy
MUSCAT: Swedish energy firm Maha Energy AB has announced the signing of an agreement with Gulf Drilling LLC, a wholly owned subsidiary of MB Petroleum Services Worldwide, based in Muscat, for the...
Pacts signed for digital transformation projects in Musandam
In the context of seeking to implement the approved plans for digital transformation initiatives for the year 2022, the Musandam Governor’s Office signed three agreements in the field of digital...
Modest decline in real estate transactions during H1 2022
MUSCAT: The total value of real estate transactions in the Sultanate of Oman during the first half of 2022 amounted to RO 1.179 billion, representing a 7.3 per cent decline compared to the...
Banking sector credit climbs 4.5pc to RO 28.299 bn
MUSCAT: Total credit extended by commercial banks in the Sultanate of Oman increased by 4.5 per cent to reach RO 28.299 billion during the first five months of this year, up from RO 27.085 billion a...
Oman’s Islamic banking sector posts double-digit growth in 2021
Islamic banking sector in the Sultanate of Oman, which comprises of two Islamic banks and five Islamic banking windows, has continued its double-digit growth in 2021 despite the adverse economic...
OAC forms alliance with UK institute
The Oman Commercial Arbitration Centre (OAC), the nation’s principal alternative dispute resolution institution, and the Chartered Institute of Arbitrators (CIArb) of the United Kingdom, have...
Huawei unveils multitude of flagship products
DUBAI: Huawei held a Flagship Products Summer Launch Event in Dubai that saw the introduction of incredible cutting edge devices including the ideal flagship foldable phone Huawei Mate Xs 2, a...
CBO urges banks not to increase interest rates; Repo rates up 75 basis points
The repo rate for licensed banks operating in the Sultanate of Oman goes by 75 basis points, the Central Bank of Oman (CBO) announced here on Wednesday.It follows the decision of the US Federal...
OCCI to launch new Commercial Franchise programme
The Oman Chamber of Commerce and Industry (OCCI) is launching a new Commercial Franchise programme, which will start from the Governorate of Muscat next month before it is rollout out to most of the...
HSBC, Sohar Int get initial nod for merger proposal
MUSCAT: HSBC Bank Oman SAOG and Sohar International Bank SAOG announced on Tuesday that they have agreed to enter into a non-binding memorandum of understanding on proceeding to exclusive discussions...
Singaporean firm inks MoU to support Oman’s aquaculture industry
Singapore’s Blue Aqua International, a global leader in shrimp farming and aquaculture technology, has announced that it has signed a Memorandum of Understanding (MoU) with Fisheries Development...