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Dubai Group Unit Sells 41.1% ONIC Stake To Oman Fund

The asset sale is part of the Dubai Group’s $6 billion restructuring process, said officials.

Oman’s Bank Muscat Hit By $39m Prepaid Card Fraud

The lender said 12 prepaid travel cards were compromised outside of Oman.

Oman Seeks Consolidation In Financial Sector

There are now 18 banks in the sultanate after last year’s merger between the local business of HSBC Holdings and Oman International Bank.

Oman’s Bank Muscat Gets $195m Equity Investment

International Finance Corp is to buy into the lender with a 5.28 per cent private share placement.

Oman Posts $8.4bn Budget Surplus For 2012

The surplus is equivalent to 12 per cent of the sultanate’s 2011 GDP.

Oman Airport Reopens After Closure Due To Crash Landing

A Pakistan International Airlines plane crash-landed on a runway at Muscat International Airport.

Muscat Airport Closed After Plane Crash Lands

The Pakistan International Airlines plane had 70 people on board but no injuries were reported.

Bank Muscat Forecasts 14-15% Growth

Oman will again spend heavily in 2013 on job creation and infrastructure projects.

Oman Raises Minimum Wage To Avert Future Protests

Expatriate numbers are to be reduced from 39 per cent of Oman’s population to 33 per cent.

Oman’s Ruler Takes Economic Policy To People

Sultan Qaboos bin Said has revived a custom of travelling on month-long tours around Oman, holding “consultation sessions” with local people.

Oman Air Targets Subcontinent Growth

The expansion comes after the Sultanate signed MoUs with India and Pakistan to boost air services last November

HSBC’s Oman Unit Sees 62.7% Drop In 2012 Profit

HSBC Bank Oman, formed by a merger of HSBC’s Oman unit and Oman International Bank, made a net profit of OMR5.8 million in 2012.

Oman Plans To Build $1.5bn Medical Complex

The government-funded project will cover five million square metres and will be built in the Batnah region.

Oman Telco Nawras Extends Profit Slump For Q4

The firm reported a Q4 net profit of 10.3 million rials, down from 11.9 million in 2011.

National Bank Of Oman Q4 Profit Jumps 48%

Full-year 2012 profits stood at OMR40.7 million, up 19 per cent compared to 2011.

Oman Mulls Hiring Of Expatriate Workers

The Council of Ministers wants to identify the type of businesses that Omanis should be encouraged to set up.

Oman Plans To Merge State Pension Funds

The Gulf state aims to merge eight state-run pension funds to improve efficiency.

Banking Special: Good Growth Prospects In Oman

Oman’s economy and its banking sector are performing well.

State Spending Could Spur Oman’s Tiny Bourse

Oman’s stock index rose 1.2 per cent last year and outperformed Qatar and Bahrain.

Oman To Create 20,000 Govt Jobs This Year- Minister

The government spent $780 million to create 36,000 jobs for Omanis last year.

Oman Boosts 2013 Spending To $33.5bn

Spending on education, health, housing and social welfare has been boosted by 22 per cent in this year’s budget.

Oman Awards $108.5m Airport Contract To US Firm

The sultanate is expanding the Muscat airport’s terminal building and the airfield.

Britain’s BAE Wins $4.1bn Omani Contract

Under the deal, BAE will deliver 12 Typhoon and eight Hawk aircraft to Oman’s armed forces starting in 2017.

Oman Adopts Strict Approach For Islamic Banking

The sultanate last year became the last country in the GCC to introduce Islamic finance.

Oman Investment Firm Eyes Stake Sales In Banking Arm

Ominvest also has plans to list part of Oman Arab Bank on the Muscat bourse.

Oman Secures New Subcontinent Traffic Rights

Exclusive: Oman Air announces new flights into India and Pakistan.

Oman Eyes Broader Role For Private Sector To Create Jobs, Diversify

Unemployment in the Gulf state currently stands at around 24 per cent, according to the IMF.

Atkins Wins Muscat Sports Academy Contract

A 3,000-seat outdoor tennis stadium will be a focal point, featuring a roof that illuminates at night

Revealed: Top 10 Companies In Oman

Banks form the majority of the top companies in the Gulf State.

Oman Air Expects 30% Revenue Growth In 2012

The airline generated $809 million in revenue last year and expects growth to come from higher demand.