BUSINESS NEWS

Oil marketing firms’ profits fall on lower fuel demand

Muscat - 

Oman’s oil marketing companies recorded sharp declines in their profits for the first quarter of 2017, mainly due to a fall in retail volume demand.

NBO completes first pilot cross border banking transaction using blockchain technology

NBO completes first pilot cross border banking transaction using blockchain technology
Muscat - 

Underscoring its position as a front-runner in digital banking solutions, National Bank of Oman (NBO) announced the successful completion of the international remittances pilot project using blockchain technology.

Commercial banks’ investments in securities hit RO3bn mark

Muscat - 

Omani commercial banks’ overall investments in securities reached RO3bn at the end of February 2017, according to an Oman News Agency report.

Oman Energy and Water Exhibition and Conference to begin on Monday

Muscat - 

The third edition of Oman Energy and Water Exhibition and Conference 2017 will kick-start on Monday. The three day event will be organised by the Public Authority for Electricity and Water (PAEW) and Oman Exhibition Company (Oman Expo) at Oman Convention and Exhibition Centre.

Ahlibank shareholders approve RO50mn perpetual bonds issue

Muscat - 

Ahlibank shareholders approved the issuance of 50mn perpetual bonds (additional tier 1 capital instruments) by rights issues at the bank’s extraordinary general meeting (EGM) on Thursday.

Omantel CEO named among top 100 regional CEOs

Omantel CEO named among top 100 regional CEOs

Muscat - 

Talal bin Said al Mamari, CEO of Omantel, received a major recognition at the Top CEO Awards 2017 ceremony recently held in Jeddah, Saudi Arabia. Mamari was ranked in the top 100 list of regional CEOs compiled by TRENDS magazine in conjunction with INSEAD business school. 

OOCEP, Shell Exploration sign heads of agreement for Block 42

OOCEP, Shell Exploration sign heads of agreement for Block 42

Muscat - 

Oman Oil Company Exploration & Production LLC (OOCEP) and Shell Exploration BV signed a heads of agreement to collaborate on Oman’s Block 42.

Oman Cables Industry’s first quarter net profit declines to RO3.3mn

Oman Cables Industry’s first quarter net profit declines to RO3.3mn

Muscat - 

Oman Cables Industry reported a decline in its group net profit for the first quarter ended March 31, 2017. The company’s group net profit (after deducting non-controlling interest) fell to RO3.3mn in the first quarter of 2017 compared with RO4.7mn in the corresponding period of last year.



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