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Six Arrested In $45m Global Cybercrime Involving RAKBANK, Bank Of Muscat

The five men and one woman, all residents of New York City, were accused of being members of an unnamed global cybercrime organisation

Oman’s Public Wage Bill Could Rise By $2.3bn In 2014

A royal order to standardise salaries and grades across the public sector is projected to cost OMR800-900 million.

Broadband Revenue Boosts Omantel’s Q3 Profit

Omantel reported a net profit of 29.1 million rials in the three months to September 30, up from 28 million rials in the year-earlier period.

Oman’s First MERS-Coronavirus Sufferer Dies In Hospital

Qatar, Saudi Arabia and the United Arab Emirates last week reported four other people who had been admitted to hospital with the disease.

Oman Oil Minister Slams Gulf Culture Of Energy Subsidies

Mohammed bin Hamad Al Rumhy said a signal needs to be sent to ‘the pockets of the public’.

Oman Property Developer Sells Country’s First Sukuk

Oman began to introduce Islamic finance last year, becoming the last of the six Gulf Cooperation Council states to do so.

Oman To Launch $15bn Rail Construction In Q4 2014

The state-funded rail network would link the desert town of Buraimi, bordering the United Arab Emirates, to six major settlements in Oman.

Oman Reports First MERS-Coronavirus Case

A new case involving a 23-year-old expatriate resident has also been recorded in Qatar this week.

Oman’s Renaissance Unit Prices $350m Debut Bond

The five-year offering carried a coupon of 8.625 per cent

GCC Must Slash Energy Consumption – Oman Minister

Officials have called for a collective effort from GCC countries to curb their energy subsidies.

Oman’s Galfar Engineering Rights Issue 96% Subscribed

The Omani construction company raised OMR13.29 million through the issue.

Oman’s Bank Dhofar Q3 Net Profit Declines 10.8%

Oman’s second-largest bank by market value made a profit of OMR8.3 million

Oman Buys German Chemicals Maker Oxea

The deal was reportedly worth about 1.8 billion euros ($2.4 billion), according to sources.

MENA IPO Values Down 45% In Q3 2013

The region’s sole IPO in the third quarter of the year raised $138 million, lower than the $252.3 million raised in Q3 2012.

Salalah Embarks On Massive Infrastructure Development Drive

The once-sleepy port city has put itself on the map by expanding its infrastructure and cultivating thriving global companies.

Oman Cuts Interest Cap On Personal Loans To 6%

Annual growth in bank lending in Oman accelerated to a four-month high of 8.1 per cent in July.

Oman Air And Bank Muscat Launch Visa Credit Card

Co-branded card is designed to reward and enhance loyalty among frequent flyers

GCC Capital Expenditure To Rise By 8.2% In 2013

GCC states’ expenditure on rail schemes, expansion of power generation plants and housing projects is expected to boost capital expenditure in 2013.

Oman May Issue Sovereign, Islamic Bonds In 2014

Oman aims to develop its fledgling Islamic finance industry with a debut issue of sukuk by the government.

Oman To Unveil Privatisation Plans In January

The government currently owns more than 60 companies across various sectors in the country.

Omantel’s Shares Slump To 10-Week Low On Govt Stake Sale Plan

The government plans to offload a 19 per cent stake in the operator via a public subscription.

Oman-Iran Gas Pipe Unlikely Within 2 Years

Oman has been agreeing to buy gas from Iran as far back as 2005 but the two sides have never finalised terms.

Oman’s Entrepreneur Ecosystem Needs Strong Government Push

Oman’s entrepreneurs can add value to the government’s job creation efforts, if given adequate support.

Oman’s Government Sues Newspaper Over Story About Gays

Homosexuality is punishable by law in Oman.

Oman Signs MoU To Import Iranian Gas

The two nations have signed a 25-year deal valued at around $60 billion.

Oman Development Bank Considers Islamic Window

Oman became the last country in the GCC to adopt Islamic finance in December 2012.

Sembcorp Joint Venture To Launch Oman IPO On Aug 28

The $1 billion power plant will offer 33.4 million existing ordinary shares at a price of OMR1.59 per share.

Oman’s Bank Nizwa Obtains Investment Banking Licence

The lender, Oman’s first full-fledged Islamic bank, launched operations in January.

Sultan Of Oman Pardons People Jailed For 2011 Protests

According to reports, those pardoned include 14 people serving prison sentences ranging from 30 months to five years.

Bank Sohar To Consider Bank Dhofar Merger Offer

Bank Dhofar, the larger of the two lenders, said last week that it had approached Bank Sohar with regards to a merger proposal.