Both companies, which became operational in April 2012, are owned by mostly foreign consortiums.
The firm made a net profit of 8.8 million rials ($22.86 million) in the three months to March 31, a statement said.
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.
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.
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.
Head of Oman’s Central Bank says infrastructure projects are generating economic activity.
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.
The bank made a profit of $26.75 million in the first three months of 2014, according to a statement in Oman bourse.
The deal is due to be completed in the second half of 2014, a statement said.
The bank made a quarterly profit of 39.76 million rials ($103.3 million) in the three months to March 31.
The extended ban, issued by the Ministry of Manpower, will come into effect from May 4 this year.
The Saraya Bandar Jissah development includes two hotels to be operated by Jumeirah Group.
The complex, expected to cost about $500 million, could produce up to 800 tons a day of LPG.
Aggregate funded credit exposures to non-resident borrowers other than banks are capped at 20 per cent of the bank’s local net worth.
Long joins from HSBC Bank Egypt and replaces Ewan Stirling.
The carrier’s annual loss widened by 16 per cent to OMR113.34 million in 2013.
Nearly 30 people accused of corruption have been sentenced to prison terms ranging from one to 23 years.
The committee includes the CEO of the Capital Market Authority and officials from the finance ministry.
The $3.6 billion Liwa Plastics Project will be built in Oman’s northern industrial city of Sohar.
Oman’s government has said it would revive its privatisation programme to raise revenue and stimulate the private sector.
The sale required investors to place minimum orders of two million shares each.
Three agreements were signed between Oman and Iran, one of which was an initial deal on building a gas pipeline linking Iran with the Sultanate.
The need for Islamic interbank tools is relatively acute in Oman because its Islamic banking regulations prohibit the use of commodity murabaha.
The move coincides with a wide-ranging government crackdown on corruption.
Mohammed Ali was previously sentenced to three years in jail in January over bribes made to Petroleum Development Oman.
Oman aims to raise gas output to an average of 120 million cubic meters per day (mcm/d) over the five-year period from 2014 through 2018, according to an official.
The bank will seek shareholder approval for its sukuk programme at a meeting on March 19 and regulatory approval thereafter, local media reported.
Shell Oman Marketing Company previously supplied half of Oman Air’s fuel at Muscat airport.
Around 114 expatriate employees in civil services have been replaced to date while the remaining 480 positions will gradually be given to Omanis by 2015, an official said.
Omnivest had previously said that it was looking into the feasibility of the transaction.