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Oman takes legal action against Bulgaria over bank collapse

Oman’s biggest sovereign wealth fund owned a 30 per cent stake in Corporate Commercial Bank

Oman plans $600m solar energy plant to save on gas use

Construction of the first phase of the plant, ultimately expected to generate 1,021 megawatts, will start this year

Oman central bank sets up Islamic banking department

The creation of a separate Islamic banking department will clear the way to develop the industry in the country

HSBC Bank Oman agrees to sell Pakistan business to Meezan Bank

The deal is expected to be completed during the second half of 2015, the bank said in a statement

Oman central bank approves Ominvest, ONIC Holding merger

The assent was granted at a board of governors’ meeting on Monday, a statement said.

Oman not in danger of MERS outbreak, says health ministry

An Omani businessman infected with the virus is currently in quarantine in Thailand

Oman, Japan ink deal to promote joint investments

The deal is expected to increase Japanese investments in Oman

Tropical storm Ashobaa expected to have indirect impact on UAE

The storm, which could make landfall in Oman, is expected to cause sea levels to rise in the UAE’s east coast

Dubai’s DSI says unit wins $95m contracts in Oman

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.

Oman to build refinery, petchem plant in Indonesia, Jakarta says

The refinery would be built in Indonesia’s Riau province, with the oil products being purchased by state-owned Pertamina.

Oman to deport over 1,000 foreign workers at airport project

The labourers reportedly did not have the necessary work permits for the construction sector.

Iran, Oman discuss Yemen war, settle maritime borders

Foreign ministers from both the countries discussed implementing a ceasefire in Yemen.

Oman cuts defence, subsidy spending, keeps investing as oil sags

Spending on “participation and support”, which includes subsidies, fell 48 per cent to OMR189.0 million in the first quarter of this year.

No impact of Oman quake on the UAE, say officials

The 5.0 magnitude earthquake hit Oman on Sunday, triggering fears of a tsunami.

Oman’s Bank Nizwa withdraws United Finance merger proposal

Nizwa said in February that it saw the proposed merger as a way to speed up its growth.

Oman Plans Private Placement For Debut OMR200m Sukuk

The committee arranging the issue said it had received in-principle regulatory approval and was now in advanced stages of structuring and documentation.

National Bank Of Oman Says Plans Tier 1, Tier 2 Instruments

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.

Owner Of Oman’s Largest Power Plant Begins $146m Flotation

Subscription for the initial public offering, which is open to both local and international investors, will run until June 8.

Oman Oil Co To Restructure, Privatise Some Units

With the new structure, the company said it will be focusing more on Duqm and managing its international assets.

Oman’s Bank Sohar Says $104m Rights Issue Oversubscribed

In total, shares worth OMR53.28 million were bid for under the capital increase, which saw 228.8 million new shares sold to investors.

Oman’s United Finance Gets Acquisition Proposal From National Bank Of Oman

Any deal would require the approval of the board of directors, the shareholders and the regulators, United Finance said in a statement.

Omantel Q1 Net Profit Rises 0.6%

Omantel said its first-quarter net profit was impacted by losses at subsidiaries.

Different Arab money

Oman Fund, Spanish Firm To Finance Spanish Companies Abroad

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.

Oman Plans Floating Storage For DME Crude Delivery

The storage will increase monthly trade volumes on the DME by two million barrels.

Cheap Oil Slows Saudi, UAE Projects But Qatar, Kuwait Rise -ADCB

The total value of projects awarded in the GCC climbed to above $40 billion in Q1 2015.

Oman Electricity Co To Meet Investors For Potential Debut Dollar Bond Issue

The firm chose Bank Muscat and J.P.Morgan to arrange investor meetings for the bonds in the United States and Europe.

Oman’s ONIC Holding And Ominvest Say Boards Approve Proposed Merger

The merger will still require approval from the shareholders of both companies, the Capital Market Authority and the Ministry of Commerce and Industry.

Oman LNG Looks To Sell Cargo To Asia Via Union Fenosa Gas -Traders

The cargo would be for May delivery, traders said.

Oman’s Islamic Deposits Surge, Adding Pressure On Liquidity Tools

Combined customer deposits at the two full-fledged Islamic banks and Bank Muscat almost tripled in the year to March.

Oman Telecom Regulator Fines Omantel $13m, Firm To Appeal

The fine was imposed because of a nine-hour service interruption last year.