A two-month shutdown of Oman’s biggest refinery slashed Omani regular gasoline output by 42 per cent in the first quarter of 2013.
Bank of Muscat lost $40 million and UAE-based RAKBANK lost $5 million in the global heist.
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.
Shelly-Ann Fraser-Pryce also featured as a host of Olympic medallists began their build up to August’s world championships in Moscow.
Omantel made a net profit of $75.6 million in the three months to March 31.
Commercial banks have ensure that at least five per cent of their total loans are given to small and medium-sized firms.
Both Al Suwaidi Power Co and Al Batinah Power Co aim to each offer a 35 per cent stake to the public.
Increased services from aviation hubs like Dubai and Doha boost Salalah’s tourism.
The government hopes to facilitate debt sales by its private sector, says finance minister Darwish al-Balushi
The company said increased depreciation arising from network modernisation had impacted its net profit.
Supporting smaller firms is a key part of the government’s economic policy but lending growth hit a 22 month low in February.
Integrated Tourism Complex developments, such as Muscat Hills and The Wave, help to revive the Sultanate’s real estate market.
The lender made a OMR15 million one-off provision after some of its prepaid travel cards were hit by fraud.
Alizz Islamic Bank is the second full-fledged Islamic bank in the sultanate.
The facility, located in Duqm, will be able to store up to 200 million barrels of crude oil.
The refinery will begin operations by the end of 2015 and will produce one million tonnes of sugar per year.
The two new plants will together add 1,500MW of power to the sultanate’s current existing capacity of 4,500MW.
Oman’s merchandise trade surplus reached $24 billion last year.
Currently Oman, like neighbouring Saudi Arabia, follows a Thursday-Friday weekend.
Oman’s Islamic lenders can hold no more than 40 per cent of their net worth in the form of foreign currency-denominated assets.
Oman does not expect to spend more than its budgeted amount this year.
Oman Air said its revenues jumped 21 per cent last year on the back of rising traffic through the country’s main airport.
Under the agreement the company will explore for oil and natural gas in Blocks 39 and 67.
Three more hotels are due to open on site, a five-star property, another four-star hotel and a three-star hotel and apartments.
The Omani bank lost a court case in June 2011 against Oman International Bank, Ali Redha Trading and Muttrah Holding.
Despite attracting more than $2.5 billion of demand so far the size of the bond will not be increased.
Workers are demanding better safety conditions after a worker died in an accident on Monday.
The meetings will start in Riyadh before going to Singapore, Hong Kong, the United Arab Emirates, Switzerland and London.
Omani gas production has risen sharply over the last decade and the country remains a net gas exporter.
Average oil production in the country was at 884,900 bpd in 2011.