The European bank will hold a 51 per cent stake in the new entity, which will be renamed HSBC Bank Oman SOAG.
Bank Muscat, Oman’s largest lender by market value, posted a net profit of $86.7 million for the first quarter of the year.
Oman plans to issue sovereign bonds worth OR200 million this year, but is waiting for the right time, according to officials.
The carrier said that the loss was “justified” and blamed it on the rising fuel prices.
The region’s hydrocarbon reserves account for almost a third of the world’s reserves, says QNB Capital.
The Bahraini carrier said that the sum has been outstanding from the time Oman pulled out of Gulf Air in 2007.
The cash injection into the Dubai Mercantile Exchange (DME) has diluted the stake of Dubai Holding.
The agreements were signed between Oman’s health ministry and Oman LNG.
The pipeline will supply gas to the town of Duqm and is estimated to cost around $200- 220 million to build.
The country is scrambling to find an alternative to its threatened primary supply from Iran, Oman’s oil minister has said.
Swiss and German investment funds are undertaking the project.
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