January 2nd, 2019 | 0 commentsLosses arising from Cyclone Mekunu, which ravaged the country in May, have led to insurance companies receiving claims of over OMR155 million, according to new data from the Capital Market Authority (CMA). Figures obtained by the Times of Oman indicate that 20 insurance firms received 1,123 claims, as of the end of September. Total losses...
November 29th, 2018 | 0 commentsThe Board of Directors of the Fisheries and Agriculture Development Fund held its second meeting for 2018 under the chair of Dr. Fu’aad bin Ja’afar Al Sajwani, Minister of Agriculture and Fisheries, Chairman of the Fund. The Fund’s Board approved to finance ten projects, including four agricultural projects and 6 fisheries projects at a c...
November 26th, 2018 | 0 commentsHogan Lovells, a leading global law firm, said it had played a key role in advising JGC Corporation, United Infrastructure Development Company (part of Bahwan Engineering Group) and Doosan Heavy Industries & Construction, the successful bidder, on the Sharqiyah Independent Water Project (IWP) in Oman. The Sharqiyah IWP is a reverse os...
November 11th, 2018 | 0 commentshe total outstanding credit extended by conventional and Islamic banks and other depository corporations stood at OMR24.7 billion as of the end of August 2018, a growth of 7.6 per cent over the level witnessed a year ago, according to the statistical bulletin released by the Central Bank of Oman (CBO). The credit to the private sector inc...
November 7th, 2018 | 0 commentsPreliminary work has commenced at Mina Al Sultan Qaboos (MASQ), according to DAMAC International, the strategic partner to the joint venture with Oman Tourism Development Company (Omran), the government’s tourism development arm. The transformation of the historical port into a $2 billion integrated waterfront destination, which includes...
October 17th, 2018 | 0 commentsBank Muscat, the flagship financial services provider in the Sultanate, in line with its vision ‘To serve you better, everyday’, and commitment to partnership in sustainable development, signed a long-term secured credit facility agreement for RO 120 million with Oman International Development and Investment Company (Ominvest). Ominvest’s...
October 15th, 2018 | 0 commentsBank Muscat, the flagship financial institution in the Sultanate, announced its preliminary results for the nine months ended September 30, 2018. The bank posted a net profit of RO 134.74 million for the period compared to RO 130.26 million reported during the same period in 2017, an increase of 3.4 per cent. The key highlights of the res...
October 8th, 2018 | 0 commentsOman's Ministry of Tourism (MoT) is hosting mobile promotional workshops during a five-city roadshow, which commenced on Sunday, beginning with Qatar’s capital Doha, said a report. The workshops, set to take place in Kuwait, Jeddah, Riyadh and Dubai as well, will see the participation of Omani tourism companies including Oman Air and Sala...
October 4th, 2018 | 0 commentsOman spent OMR63.6 million on science, technology, and innovation (STI) in 2017, but the national target is yet to be met. Dr. Sharifa Al Harthi, Director of the National Innovation Strategy (NIS), said: “The total spending on Research and Development (R&D) in 2017 in Oman reached 63.6 million, equating to 0.22 per cent of the nationa...
September 30th, 2018 | 0 commentsThe Sultanate is rich in diverse natural elements attracting tourists for adventure, exploration and fun. The charm of Omani nature is woven from mountains, valleys, plains and seas. The Sultanate’s castles, forts and majestic towers bear witness to its glorious history and ancient civilisation. The Niyabat of Al Jabal Al Akhdhar is locat...
