The sultanate is under pressure to pump more oil to make up for the drop in the price
British carrier will hope to lure Emiratis and Omanis onto its new First Class suites
Oman’s biggest sovereign wealth fund owned a 30 per cent stake in Corporate Commercial Bank
Construction of the first phase of the plant, ultimately expected to generate 1,021 megawatts, will start this year
The creation of a separate Islamic banking department will clear the way to develop the industry in the country
The deal is expected to be completed during the second half of 2015, the bank said in a statement
The assent was granted at a board of governors’ meeting on Monday, a statement said.
An Omani businessman infected with the virus is currently in quarantine in Thailand
The deal is expected to increase Japanese investments in Oman
The storm, which could make landfall in Oman, is expected to cause sea levels to rise in the UAE’s east coast
The unit will carry out work on the Oman Convention and Exhibition Centre in Seeb, two hotels in Saraya Bandar Jissah and an airport hangar-related facility.
The refinery would be built in Indonesia’s Riau province, with the oil products being purchased by state-owned Pertamina.
The labourers reportedly did not have the necessary work permits for the construction sector.
Foreign ministers from both the countries discussed implementing a ceasefire in Yemen.
Spending on “participation and support”, which includes subsidies, fell 48 per cent to OMR189.0 million in the first quarter of this year.
The 5.0 magnitude earthquake hit Oman on Sunday, triggering fears of a tsunami.
Nizwa said in February that it saw the proposed merger as a way to speed up its growth.
The committee arranging the issue said it had received in-principle regulatory approval and was now in advanced stages of structuring and documentation.
The bank’s board has approved the issuance of a Tier 2 instrument worth up to $900 million and a $300 million Tier 1 capital increase.
Subscription for the initial public offering, which is open to both local and international investors, will run until June 8.
With the new structure, the company said it will be focusing more on Duqm and managing its international assets.
In total, shares worth OMR53.28 million were bid for under the capital increase, which saw 228.8 million new shares sold to investors.
Any deal would require the approval of the board of directors, the shareholders and the regulators, United Finance said in a statement.
Omantel said its first-quarter net profit was impacted by losses at subsidiaries.
The new fund will focus on companies interested in doing business in Oman as well as other Gulf countries, East Africa, and South and Southeast Asia.
The storage will increase monthly trade volumes on the DME by two million barrels.
The total value of projects awarded in the GCC climbed to above $40 billion in Q1 2015.
The firm chose Bank Muscat and J.P.Morgan to arrange investor meetings for the bonds in the United States and Europe.
The merger will still require approval from the shareholders of both companies, the Capital Market Authority and the Ministry of Commerce and Industry.
The cargo would be for May delivery, traders said.