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Oman’s Electricity Holding Co Picks Advisers, Plans $2.1bn Fundraising

The firm plans to raise the amount from a loan or bond issue by the middle of next year.

Oman Fund Held Talks With Bulgaria About Corpbank Rescue

The central bank seized control of Corpbank, in which Oman fund holds a share, after a run on the lender.

Oman Power Firms To Start Trading Monday After IPOs Attract Demand

Al Suwadi Power Co and Al Batinah Power Co, each offered a 35 per cent stake to the public in offerings worth a combined $162.9 million.

Oman Scraps Price Controls For Most Goods, Inflation Impact Seen Minor

Under new rules announced last week, permission will only need to be sought to increase prices of essential items such as rice, tea and fish.

Oman Plans Refinery Maintenance In June For About A Month

Oman Oil Refineries and Petroleum Industries Co (Orpic) said supply to the market will not be interrupted.

Air Arabia Adds Four Flights Between Ras Al Khaimah And Muscat

The low-cost carrier will now operate 21 weekly flights between the UAE and Muscat.

Bank Muscat Considers Sale Of Brokerage Unit

The lender did not give a size or time frame for the potential sale of the unit.

Oman’s Raysut Cement Appoints New CEO

The Sultanate’s largest cement firm by market value has appointed Salem Alawi Mohammed Baabood as chief executive.

Oman’s Bank Dhofar Proposes Share Swap Ratio For Bank Sohar Merger

A merger between the two banks would create Oman’s second biggest bank by asset value, with assets worth around 4.78 billion rials ($12.42 billion).

Oman Central Bank Says Stress Tests Find Banking System Resilient To Shocks

If all the applied stressed scenarios materialise, the banking system will need $201.3 million to recapitalise five deficient banks.

Former Omani Minister Jailed For Three Years For Corruption

Mohammed bin Nasir Al-Khusaibi was found guilty of paying bribes worth $1 million to officials to win an airport contract.

Muscat City Centre Malls To Launch VOX Cinemas In June

The move is part of mall operator Majid Al Futtaim’s $29.3 million redevelopment plan for Oman.

Oman’s Bank Sohar To issue $182m Capital-Boosting Convertible Bond

The issue, which will be done as a private placement, will help boost the bank’s core capital.

Omani Power Firms Set To Double Profits After Share Offer

The two firms’ owners aim to raise a combined $163 million through the sale of 35 per cent of each company.

National Bank Of Oman Appoints New Chief Executive Officer

Ahmed al-Musalmi, who has served as deputy chief executive officer for the bank since 2011, succeeds Salaam al-Shaksy.

Omantel Q1 Net Profit Rises 18%, Beats Estimates

Omantel attributed the profit rise to a 29 per cent increase in wholesale revenue.

Oman Says Govt May Cut Petrol Subsidies, No Bond Plans For 2014

Further privatisations of state-owned companies in Oman were also unlikely to take place in 2014, its financial minister said.

Al Hassan Engineering Wins $5.2m Al Ghurair Deal

The Omani contractor will construct phase two of the Al Ghurair plant expansion in Abu Dhabi’s ICAD – I Mussafah.

Oman’s Sohar Oil Refinery Shut For Cooling Pipe Repair -Operator

The refinery has capacity to process around 116,000 barrels per day of Omani crude.

Oman 2013 Nominal Economic Growth Slowest Since 2009

The slowdown would underline the government’s main challenge of creating enough jobs for the country’s growing population of nationals.

Bank Muscat’s Islamic Unit Plans $300m Dual-Currency Sukuk Issue

The issue would be part of a 500 million rial ($1.3 billion) sukuk programme which the bank’s shareholders approved in March,

Oman Industrial Conglomerate Orpic Signs $2.8bn Loan

The money will be used to fund various Orpic projects, including an expansion plan for its refinery in the industrial city of Sohar.

Oman Regulator Gives Nod For Power Plant Share Sales Worth $163m

Both companies, which became operational in April 2012, are owned by mostly foreign consortiums.

Oman Telco Nawras Q1 Profit Rises 14%

The firm made a net profit of 8.8 million rials ($22.86 million) in the three months to March 31, a statement said.

Oman Cement Q1 Net Profit Falls 47%

The company’s net profit fell to 3.70 million rials ($9.61 million) in the first quarter of the year compared to 6.94 million rials in the same period of 2013.

HSBC’s Oman Unit Posts 46% Q1 Profit Slump

The bank made a net profit of 3.1 million rials ($8.1 million) in the opening three months of 2014, compared to 5.7 million rials in the same period of 2013.

Omani Government Raises $530m From Sale Of 19% Of Omantel

The government’s holding in the operator will drop to 51 per cent following the completion of the second and final part of the share sale.

Oman Expects 5% Growth In 2014 -Central Bank

Head of Oman’s Central Bank says infrastructure projects are generating economic activity.

Oman’s Bank Sohar Q1 Net Jumps 31%

Net loans and advances climbed 17 per cent to 1.31 billion rials, while customers’deposits increased 8 per cent to 1.41 billion rials.

National Bank Of Oman Q1 Profit Rises 20%

The bank made a profit of $26.75 million in the first three months of 2014, according to a statement in Oman bourse.