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A new Islamic bank, Al Izz Islamic bank, in Oman which also stands as the only dedicated Islamic bank in the country will be receiving a bulky investment fund from the Aabar Investments in an announcement delivered during the unveiling Read more
Reports are emerging that the building of a huge bus manufacturing and assembly plant capable of satisfying the region’s need is underway in Oman as the project’s Memorandum of Understanding has been signed between Oman Investment Fund (OIF) and Mowasalat. Read more
Israel and the United States will hold next October joint military maneuvers, the largest-ever war games to be conducted by the countries, amidst Iran’s growing threat to shut down the Strait of Hormuz and ambitions to acquire nuclear weapons. Dubbed Read more
The ratings agency Standard & Poor’s predicted that the Gulf Cooperation Council banks will be shielded from the Euro zone turmoil and will continue recovering steadily from the 2008 credit crisis, despite the persistence of some pockets of risk. Since Read more
Oman has joined forces with Yemen to trace Al-Qaeda members that have crossed into the country after the US backed Yemen military started inflicting heavy damage and casualties on them. The two countries are now sharing intelligence and are also Read more
Oman is seeking to purchase 55 AIM-9X block II Sidewinder missiles, 36 AIM-9X block II Sidewinder captive air training missiles and 6 AIM-9X block II tactical guidance units, says the U.S. Defense Security Cooperation Agency. The $86 million arms deal Read more
One of OMZEST (Omar Zawawi Establishment) Group’s subsidiary known as Riyam Computer Services (RCS) has concluded a partnership deal with QGroup, a German based company. Both of the two companies are actors in the Information Technology sector. As far as Read more
Oman’s Ministry of commerce and Industry has taken the decision to stop the merger of HSBC Oman and Oman International Bank (OIB). The decision will temporarily stop the merger because an India-based businessman has raised issues against HSBC via a Read more
The high profile summit between member states of the Gulf Co-operation Council (GCC) ended without any agreements being signed. Instead, another summit has been arranged and it will be held in Bahrain in December. The Riyadh summit chaired by the Read more
To upgrade the health sector and the services it offers, the Council of Ministers at their last meeting decided that there has to be a review of certain aspects pertaining to the subject. They decided that the development of human Read more