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Bank Muscat Plans $251m Stake Sale

The Omani bank plans to use the proceeds from the sale to fund credit expansion and its foray into Islamic finance.

Oman Posts Budget Surplus

First four months of the year see the sultanate’s revenue jump by 40 per cent to 4.6 billion rials.

DSI Wins Dhs96m Oman Deals

UAE contractor Drake & Scull International has secured a series of MEP contracts in Oman.

Top MENA Picks For Retailers

The UAE ranks highest in the region for global retail expansion, says a report by A.T. Kearney.

Oman LNG Eyes 20% Output Rise

The company currently produces around eight million tonnes of liquefied natural gas a year.

HSBC Gets Nod For Oman Merger

The European lender has received approval to merge its Omani business with Oman International Bank.

Oman To Top GCC GDP Rankings

The sultanate has the potential to top the GDP rankings for the region, bettering its wealthy neighbours.

Omani Bank IPO Attracts $1.77bn

Bank Nizwa, the country’s first Islamic bank, will be listed on the Muscat Securities Market on June 12.

HSBC’s Oman Merger Halted

Trading shares of Oman International Bank also stopped due to $5.20 million claim.

Oman To Raise Oil Output

The Gulf State plans to increase crude production by 30,000 barrels per day this year.

Oman Eyes 2,000 New Hotel Rooms

The Gulf state will add a plethora of new hotel and resort rooms across the country by 2012-2013.

Omantel Posts 12.9% Q1 Net Profit Rise

The Omani telecoms company reported a net profit of $75.58 million during the first quarter of the year.

HSBC Merges Oman Branch With OIB

The European bank will hold a 51 per cent stake in the new entity, which will be renamed HSBC Bank Oman SOAG.

Bank Muscat Q1 Net Profit Up 20%

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 May Issue $518m Bonds

Oman plans to issue sovereign bonds worth OR200 million this year, but is waiting for the right time, according to officials.

Oman Air Reports $285.6m Loss

The carrier said that the loss was “justified” and blamed it on the rising fuel prices.

GCC Oil And Gas Reserves Worth $65trn

The region’s hydrocarbon reserves account for almost a third of the world’s reserves, says QNB Capital.

Oman Owes Gulf Air $310mn

The Bahraini carrier said that the sum has been outstanding from the time Oman pulled out of Gulf Air in 2007.

CME, Oman Fund Raise DME Stake

The cash injection into the Dubai Mercantile Exchange (DME) has diluted the stake of Dubai Holding.

Oman MoH Signs Deals Worth $3.9mn

The agreements were signed between Oman’s health ministry and Oman LNG.

Oman Plans 230km Gas Pipeline Project

The pipeline will supply gas to the town of Duqm and is estimated to cost around $200- 220 million to build.

Oman May Sell Crude To Sri Lanka

The country is scrambling to find an alternative to its threatened primary supply from Iran, Oman’s oil minister has said.

$2bn Boost For Oman’s Solar Power

Swiss and German investment funds are undertaking the project.