Wednesday 4 March 2015
 
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Oman

Oman’s first solar power plant to start operation in May

Oman’s first commercial renewable power project is set to go operational by May at Al Mazyunah in Dhofar, according to a report. The 303kW solar power plant, executed by US-based Astonfield and local firm Multitech, will be

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Oman pumps $380m into power projects

Oman has spent a total of RO147 million ($380.4 million) for the implementation of electricity projects in the rural areas of the sultanate in 2014, said a report. This included establishment of networks and electricity stations,

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Oman pumps $380m into power projects

Oman has spent a total of RO147 million ($380.4 million) for the implementation of electricity projects in the rural areas of the sultanate in 2014, said a report. This included establishment of networks and electricity stations,

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Bahrain, Oman banks ‘most vulnerable to oil price fall’

Banking systems in Bahrain and Oman are more vulnerable to the recent drop in oil prices than those in the rest of GCC due to their highly oil-dependent economy where the budget breakeven price is significant, a report said. On a

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Oman's Napco to invest $18m to expand capacity

Oman-based National Aluminium Products Co (Napco) is set to expand its capacity at a cost of RO7 million ($18.1 million) to increase volumes and market share, according to a report. The company is planning to install two additiona

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Oman to issue first sovereign sukuk by mid-2015

Oman plans to make its first sovereign issue of Islamic bonds, a 200 million rial ($520 million) issue, by mid-2015 to help finance a budget deficit caused by the plunge of oil prices, the head of its central bank said on Sunday.

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Bank Dhofar gets shareholder nod for capital plans

Bank Dhofar, Oman's second-largest bank by assets, won shareholder approval for plans to raise its capital by as much as $300 million, including through the issuance of capital-boosting bonds, it said on Saturday. The lender s

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OFP, Sharakah to set up Nizwa factory

Oman’s OFP has signed an agreement with Sharakah, an investor that supports the development of entrepreneurs and SMEs in the sultanate, to receive financial support to set up a manufacturing unit, a report said. Sharakah and

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Oman names 2 desal schemes ‘special projects’

Oman has labelled two new upcoming water desalination schemes in the Batinah coast as “Special Projects” paving the way for their procurement under the Sultanate’s Sector Law, a report said. The special designati

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Oman's non-oil sector posts steady growth

The non-oil sector in Oman grew steadily by an average of 10.33 per cent annually over the 2010-2013 period mainly driven by the expansion under way in the sultanate's tourism industry, said an

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