April 19th, 2018 | 0 commentsOman Telecommunications Company SAOG (Omantel) announced on Wednesday, April 18, 2018, that it has successfully issued bonds worth $1.5 billion in two tranches — one for $600 million maturing in 2023 (5.5 years) yielding an interest rate of 5.625 per cent per annum, and one for $900 million maturing 2028 (10 years) yielding an interest ra...
April 19th, 2018 | 0 commentsState Council delegation, led by Chairman Dr Yahya bin Mahfoudh al Mantheri was received by Andrej Babiš, Prime Minister of the Czech Republic, during the four-day visit to the Czech Republic. The Czech Prime Minister expressed his hope that the visit will contribute to the consolidation of good relations between the Czech Republic and Om...
April 19th, 2018 | 0 commentsThe price of Omani oil has crossed $70 per barrel for the first time in three years. According to the Dubai Mercantile Exchange (DME), the price of oil for Oman's June 2018 delivery rose to $70.83 per barrel compared to $68.89 the day before. The recorded rise was 1.94 dollars in a single day, leading to the largest price per barrel since...
April 18th, 2018 | 0 commentsOman Oil Marketing Company (OOMCO) is investing heavily in mega service stations in Saudi Arabia, as it plans to push its services to a global level. The first super service station of its kind, and the first outside Oman for Oman Oil Marketing Co, will occupy 40,000 square metres on the outskirts of Dammam in Saudi Arabia by the end of t...
April 18th, 2018 | 0 commentsThe Indian Embassy in Muscat organised a roadshow on ‘Vibrant Tamil Nadu Global Food Expo and Summit’ on April 16 with a view to promote participation of Omani companies from food, agro-products and related sectors. ‘Vibrant Tamil Nadu Global Food Expo and Summit’ will be held in Madurai, Indian state of Tamil Nadu, from August 12-15. Sai...
April 18th, 2018 | 0 commentsDespite an uptick in international crude prices, the Sultanate’s pivotal Oil & Gas industry has little choice but to stay the course for at least another year or when stability returns to the global oil price market, according to the Under-Secretary of the Ministry of Oil & Gas. Citing continued volatility and uncertainty in inter...
April 18th, 2018 | 0 commentsHis Majesty Sultan Qaboos conferred Oman Military Order ‘Third Class’ on Retried Colonel Nigel Knocker in appreciation of his efforts during his duty as Ex-Chairman of the Sultan’s Armed Forces (SAF) Association. The Order was handed over to the Retried Colonel Nigel Knocker, who is currently visiting the Sultanate, by Sayyid Badr bin Sau...
April 16th, 2018 | 0 commentsThe price of Omani oil reached a three-year high, crossing $69 per barrel for the first time in three years. According to the Dubai Mercantile Exchange (DME), the price of oil for Oman’s June 2018 delivery rose to $69.08 per barrel compared to $68.66 the day before. The recorded rise was 46 cents in a single day, leading to the largest pr...
April 16th, 2018 | 0 commentsBank Muscat, the flagship financial institution in the Sultanate, announced its preliminary results for three months ending March 31, 2018. The bank posted a net profit of OMR44.81 million for the period, compared to OMR44.23 million reported during the same period in 2017, an increase of 1.3 per cent. Key highlights The bank’s net intere...
April 13th, 2018 | 0 commentsQNB Group, the largest financial institution in the Middle East and Africa (MEA) region, announced its results for the three months ended on March 31, 2018. For the three months ended on March 31, 2018, Net Profit reached QAR3.4 billion ($0.9 billion), up by 7 per cent compared to previous year. Total assets increased by 12 per cent from...
