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Banks in Oman fear that the restriction on the money market instruments to be introduced in preparations for the introduction of Islamic finance by the end of the year might affect fund and profit management. The draft of the rules Read more
As Oman struggles to keep up the employment demands of its fast-growing population and the decline of foreign direct investment last year, the government has announced an investment plan of $450 million to extend its free trade zones across the Read more
Investment into 10 new projects estimated to be ranging from $500million to $1 billion has been earmarked by the Takamul Investment Company as a move to add value to new and existing ventures in the petrochemicals, metals and minerals sectors. Read more
Oman Reinsurance Company is planning for an initial public offering estimated to be around RO10 million within two years as it tries to abide by regulatory requirements. The company, the first and only re-insurance firm in Oman, is being obliged Read more
As the European market remains unstable for investors to venture into it, interest has been turning more on the Middle East and North African region despite the existing tensions. A private equity firm of the United States of America known Read more
Plans are in the pipeline for the launching of an Initial Public Offering (OPI) by the Al Izz Islamic bank in Oman. At present, the bank is under formation and it will be the second Islamic bank in the Sultanate. Read more
A contract worth almost more than $155 million for the designing and consulting of the construction of Oman’s first major railway has nine international companies or groups lining up their bids according to a tender board official. Most of the Read more
The $232 million Phase II project of the Saih Rawl Depletion Compression (SRDC2) on behalf of Petroleum Development Oman (PDO), the country’s first oil and gas exploration and Production Company, has been awarded to an Indian-based engineering and construction conglomerate Read more
Reports have emerged that the Gulf countries, namely Saudi Arabia, Kuwait, the United Arab Emirates, Qatar, Bahrain and Oman, have been showing keen interest in bolstering their defense artilleries with the latest Lockheed Martin Corp missile defense system. According to Read more
Through its Agriculture and Fisheries minister, Oman has announced that its willingness to venture into aquaculture. Minister Fuad Bin Ja’afar Al Sajwani declared that the doors are open for investment as he urged individuals and specialized companies attracted to the Read more