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BUSINESS NEWS

GCC nations to be under stress on oil price volatility: Moody's

GCC nations to be under stress on oil price volatility: Moody's
Muscat - 

The recent fluctuations in oil prices are unlikely to have a major impact on GCC sovereigns' creditworthiness.

Port of Salalah posts strong volumes despite stiff rivalry in global transshipment market

Port of Salalah posts strong volumes despite  stiff rivalry in global transshipment market
Muscat - 

Port of Salalah achieved strong volume growth at both its container and general cargo terminals during the first half of 2016, despite stiff competition in the global transshipment market.

OGL to execute 2040 Logistics Strategy

OGL to execute 2040 Logistics Strategy
Muscat - 

The Oman Global Logistics Group (OGL) will implement the sultanate's 2040 Logistics Strategy, that was approved last year. This was announced by company officials at a press conference on Wednesday.

Market subdued on weak activity, crude

Muscat - 

Oman’s benchmark index inched up 0.07 per cent to close Wednesday’s trading session at 5,853.29.

India's Shriram EPC bags $230mn contract in Oman

India's Shriram EPC bags $230mn contract in Oman
Muscat - 

Chennai, India-based Shriram EPC, through its wholly-owned subsidiary Shriram EPC FZE, Sharjah, has been awarded a US$230mn contract by Oman’s Moon Iron & Steel Co SAOC.

Omani bank likely to be financial advisor, lender for phase one of Omagine project

Omani bank likely to be financial advisor, lender for phase one of Omagine project

Muscat - 

Omagine LLC, which plans to develop a US$2.5bn beachfront tourism and real-estate project in Muscat, is likely to hire an Omani bank as its financial advisor, that would also provide debt financing for phase one of the project.

Oman hospitality market to reach $1bn by 2020, says Alpen Capital

Oman hospitality market to reach $1bn by 2020, says Alpen Capital

Muscat - 

Oman's hospitality market is expected to grow at a compounded annual growth rate (CAGR) of 6.2 per cent from 2015 to reach US$1bn in 2020, according to a report published on Tuesday by Alpen Capital.

MSM30 extends decline on subdued activity

Muscat - 

Oman’s benchmark index fell 0.42 per cent to close Tuesday’s session at 5,849.42.



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