Home GCC Oman

Oman

Oman Signs MoU To Import Iranian Gas

The two nations have signed a 25-year deal valued at around $60 billion.

Oman Development Bank Considers Islamic Window

Oman became the last country in the GCC to adopt Islamic finance in December 2012.

Sembcorp Joint Venture To Launch Oman IPO On Aug 28

The $1 billion power plant will offer 33.4 million existing ordinary shares at a price of OMR1.59 per share.

Oman’s Bank Nizwa Obtains Investment Banking Licence

The lender, Oman’s first full-fledged Islamic bank, launched operations in January.

Sultan Of Oman Pardons People Jailed For 2011 Protests

According to reports, those pardoned include 14 people serving prison sentences ranging from 30 months to five years.

Bank Sohar To Consider Bank Dhofar Merger Offer

Bank Dhofar, the larger of the two lenders, said last week that it had approached Bank Sohar with regards to a merger proposal.

National Bank Of Oman Posts Flat Q2 Net Profit

Net profit for the first half of the year was 18.77 million rials compared with 19.92 million rials in the prior year period.

Oman’s Bank Dhofar Aims For Merger Talks With Bank Sohar

The new entity would have total assets worth 4.13 billion rials and a market capitalisation of around $1.76 billion.

Oman Air Opens First And Business Class Check-In

New facility provides premium passengers with a smoother start to their journeys and less waiting times

Bank Muscat Q2 Net Profit Up 8.9%

Oman’s biggest lender by market value reported a net profit of 63.1 million rials in the first half of 2013, down from the prior-year period.

Oman’s Renaissance Sells Unit To UK Interserve For $46m

The UK group bought Topaz Oil and Gas to expand its growth in the Middle East.

Oman Air Flight Diverted Due To Bomb Hoax

The flight from Muscat to Kuala Lumpur was diverted to Mumbai after the threat was received.

BP Agrees Retail Price For Oman Gas Project

BP has already spent hundreds of millions of dollars on the project since winning the concession in 2007.

Oman Air Orders Five Boeing 737-900ER Planes

The order, previously logged as being from an unidentified customer, makes Oman Air the first Gulf customer for the next generation aircraft.

Oman Air Flight Suffers Cockpit Window Damage

Investigation now underway into the cause of the damage on the evening flight from Muscat.

Oman Needs To Consider Fiscal Reforms

The sultanate’s central bank has issued a warning to the country which echoes a similar statement by the IMF last week.

Oman Needs To Slash Spending To Keep Budget Sustainable – IMF

The sultanate needs to adjust its fiscal balance by around 10 per cent of GDP over the medium term, said the IMF.

Oman Considers Dollar Bond Issue In 2014 – Central Bank

The non-OPEC oil exporter’s only previous international bond was a $225 million Eurobond sold in March 1997.

Kuwait Grants Oman $2.5bn In Development Aid

The Kuwaiti Fund for Arab Economic Development will supply the amount in annual installments over a 10-year period.

Oman Air Orders Three Airbus A330 Aircraft

The order, which will bring Oman Air’s A330 fleet to a total of 10 aircraft, is thought to be worth around $720 million.

Kerry Hails Tentative U.S. Arms Sale To Oman

The U.S. Secretary of State met Oman’s defence minister in the Sultanate on Wednesday to oversee the $2.1 billion deal.

Solar Power Brightens Oman Oil Output Prospects

The Gulf State has commissioned the Middle East’s first solar enhanced oil recovery (EOR) project.

Refinery Shutdown Forces Oman Fuel Imports

A two-month shutdown of Oman’s biggest refinery slashed Omani regular gasoline output by 42 per cent in the first quarter of 2013.

For Banks In Cyber Heist, How To Get Their Money Back?

Bank of Muscat lost $40 million and UAE-based RAKBANK lost $5 million in the global heist.

Bank Muscat Looking At Ways To Recover Fraud Money

Bank Muscat had reported in February that its pre-paid travel cards were hit by fraud, forcing it to take a 15 million rial ($39.0 million) loss provision.

Rudisha, Gatlin Win In Doha’s Diamond Meeting

Shelly-Ann Fraser-Pryce also featured as a host of Olympic medallists began their build up to August’s world championships in Moscow.

Omantel Q1 Profit Dips 2.5% As Costs Outstrip Revenue Growth

Omantel made a net profit of $75.6 million in the three months to March 31.

Oman’s Central Bank Sets Minimum Target For SME Lending

Commercial banks have ensure that at least five per cent of their total loans are given to small and medium-sized firms.

Two Oman Power Firms Plan IPOs In Mid-2014

Both Al Suwaidi Power Co and Al Batinah Power Co aim to each offer a 35 per cent stake to the public.

Oman Visitor Traffic Surges With Air Route Expansion

Increased services from aviation hubs like Dubai and Doha boost Salalah’s tourism.