June 17, 2013
Omani insurer Al Madina Insurance Company is planning to float an initial public offering (IPO) in the fourth quarter of this year in an attempt to change its status to a Shari’ah-compliant Takaful firm.
June 12, 2013
Most regional equity markets ended the day modestly higher amid expectations of a possible MSCI upgrade for UAE and Qatar to emerging market status.
June 11, 2013
The Muscat Securities Market continued to climb on Monday with strong buying support from local investors. The benchmark index gained 1.28 per cent before closing at a 52-week high of 6,633.41.
June 10, 2013
Taking cue from the strength in global equities, the Muscat Securities Market general index traded in positive territory, gaining 0.79 per cent to close at 6,549.61 on Sunday.
June 4, 2013
Nearly 22 per cent of Petroleum Development Oman's (PDO) oil production will be from enhanced oil recovery (EOR) by 2020, according to the head of new technology implementation at the company.
June 2, 2013
Oman Oil Company Exploration and Production LLC (OOCEP), an upstream oil and gas subsidiary of Oman Oil Co, has awarded a US$40mn engineering, procurement and construction (EPC) contract to Abu Dhabi-based National Petroleum Construction Co (NPCC).
May 30, 2013
The Gulf Cooperation Council (GCC) is set to meet on Sunday so that member states may discuss the possibilities of putting Lebanese Shi'ite movement Hezbollah on the list of terror organisations, in light of its involvement in the Syrian civil war.
Mena Infrastructure Fund LP, a leading specialist infrastructure private equity fund, sponsored by Waha Capital PJSC, Fajr Capital Ltd and HSBC Group, has acquired a 20 per cent shareholding in Sohar Power Company SAOG.
With Indian companies and investors continuing to evince interest in Freezone Sohar, the economic hub is aiming to double investment from India to US$250mn in the coming two years from the present US$125mn.
May 29, 2013
Trading activity remained flat on the local bourse as the Muscat Securities Market general index consolidated to close at 6,396.10.
May 28, 2013
The Oman Mining and Quarrying Summit, organised by IQPC Middle East in coordination with Global Exhibitions and Conferences, opened on Monday at the Golden Tulip Muscat.
May 27, 2013
Regional markets ended mixed on Sunday as most investors reassessed the sustainability of hefty year-to-date gains of the respective indices.
Petroleum Development Oman (PDO) has signed a US$30mn contract with Schlumberger, a leading international oilfield services company, which will increase the amount of Omani-made materials used in the oil and gas sector.
May 26, 2013
Total lending by Oman's commercial banks grew 8.7 per cent in the first quarter of this year to RO14.28bn as compared to RO13.14bn a year ago.
May 23, 2013
Oman Air, the national carrier of the Sultanate of Oman, has placed an order for three A330-300s, growing its A330 Family fleet to a total of ten Airbus aircraft, according to a press release on Wednesday.