BankDhofar posted a strong growth in its key profitability indicators in 2016. Despite challenging economic situation driven by volatile oil prices the bank's loan book expanded by 9.5 per cent and deposits base rose 11.6 per cent in 2016 compared to the previous year. In an interview with Muscat Daily , Abdul Hakeem al Ojaili, acting chief executive officer of BankDhofar talked about bank's performance in 2016 and outlook for this year.
The sultanate represented by the Central Bank of Oman (CBO) will take part in the 67th meeting of the Committee of Governors of GCC Monetary Institutions and Central Banks, which is scheduled to be held in Manama, Bahrain today.
U-Capital, one of the largest independent investment banking platforms in Oman, was inaugurated on Monday at Ominvest building in Shatti al Qurm.
Al Hassan Engineering Company has been awarded a RO38mn construction contract related to Liwa Plastic project, the company said in a filing to the Muscat Securities Market (MSM) on Tuesday.
The board of governors of the Central Bank of Oman (CBO) approved to increase the central bank’s capital from RO760mn to RO1bn, effective from April 1, 2017. The decision was taken in CBO’s first board meeting of this year on Monday.
The second phase of BP’s Block 61 gas project in Oman is expected to deliver 0.5bn cubic feet of gas per day by 2020, according to BP.
The current economic challenges are a stark reminder of the importance of the economic diversification and speeding up the diversification process is a perfect answer to the current challenges.
With prevailing economic slowdown in the region, Oman’s non-oil exports, re-exports and imports recorded sharp declines in 2016.