BUSINESS NEWS

Masdar awards EPC contract for 50MW Dhofar wind farm

Muscat - 

Abu Dhabi’s renewable energy company Masdar signed an engineering, procurement and construction (EPC) contract with a global consortium comprising GE and Spain’s TSK to build the Dhofar wind power project, the first large-scale wind farm in Oman and the GCC region.

Al Ahlia shares rise 6 per cent on first day

Al Ahlia shares rise 6 per cent on first day
Muscat - 

Shares of Al Ahlia Insurance, rose 6 per cent on its Muscat Securities Market on the first day of trade on Thursday, benefiting from the good response from investors, both retailers as well as institutional, in a day when the benchmark index fell over 23 points.

Oman’s water subsidy bill rises 3% to RO186mn in 2016, says PAEW

Muscat - 

Total subsidy provided by Oman’s government for water increased nearly three per cent to RO185.72mn in 2016 compared to RO180.66mn in the previous year, according to the Public Authority for Electricity and Water (PAEW).

Omantel’s acquisition of stake in Zain Group is credit positive: Moody’s

Omantel’s acquisition of stake in Zain Group is credit positive: Moody’s
Muscat - 

Oman Telecommunications Co’s (Omantel) acquisition of a minority stake in Kuwait-based Mobile Telecommunications Co (Zain Group) is credit positive because it will help the company to lower operating costs through synergies, Moody’s Investors Service said on Tuesday.

Kuwait Airways appoints new regional director

Kuwait City - 

Kuwait Airways announced the appointment of Meshal al Dalak as their new regional director for Gulf and Arabian Peninsula.

BankDhofar launches ‘Go Green’ initiative

BankDhofar launches ‘Go Green’ initiative

Muscat - 

As part of its belief in supporting the local community through various CSR initiatives, BankDhofar launched its environmental initiative ‘Go Green’ with BankDhofar.

Omani businessman named among top 10 entrepreneurs in the GCC

Omani businessman named among top 10 entrepreneurs in the GCC

Muscat - 

Omani businessman Qais al Khonji has been named among the top ten most talented entrepreneurs in the GCC region by Gulf Business magazine.

CBO gives approval for merger between National Finance and Oman Orix Leasing

CBO gives approval for merger between National Finance and Oman Orix Leasing

Muscat - 

The Central Bank of Oman (CBO) has given in-principle approval for the proposed merger between National Finance Co and Oman Orix Leasing Co, both companies announced on Monday.



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