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BUSINESS NEWS

Weak demand, prices hurt Al Jazeera Steel H1 profits

Muscat - 

Al Jazeera Steel Products Co's net profit fell by 58 per cent for the six-month period ended June 30, 2015 on lower demand and continued drop in prices of steel. 

Petrofac appoints new Oman country manager

Muscat - 

Ray Richardson has been appointed as Petrofac’s country manager in Oman recognising the multiple and substantial projects and activities the company has in Oman and the strategic importance of the sultanate to the group.   

MSM slips as financials continue to hurt

Muscat - 

The Muscat Securities Market’s 30-share benchmark index posted a decline of 0.21 per cent in Monday’s session to close at 6,568.09. 

CrimsonLogic to implement NIMR project for sultanate

Muscat - 

CrimsonLogic, a Singapore-based provider of eGovernment solutions and services, has been appointed by Oman’s Public Authority for Manpower Register (PAMR) and Information Technology Authority (ITA) to design and implement the new National Integrated Manpower Register (NIMR) project.

Bank Muscat named ‘Best Investment Bank’ in Oman

Muscat - 

Bank Muscat has won the ‘Best Investment Bank in Oman’ award from Global Finance. 

Stomo appoints 1st Omani site manager

Muscat - 

SUEZ-Tractebel Operation and Maintenance Oman LLC (Stomo), an affiliate company of Engie (formerly GDF Suez), a long-term investor in Oman’s power sector, recently announced the appointment of Abdullah Mohammed Salim al Rawahi as site manager for its Barka II power and desalination plant.

Nuclear agreement seen boosting Oman-Iran trade

Muscat - 

Oman and the UAE, which have had strong trade and investment links with Iran in the past, would likely benefit most from the lifting of trade sanctions on Iran because this would open the way for increased trade and investment flows, Moody's Investors Service has said.

Muscat to host AMAN Union’s permanent HQ

Muscat - 

Muscat has been elected to host the permanent headquarters of the AMAN Union secretariat general. The selection was made through an online poll among the 18 full members representing national and multilateral export credit agencies. 

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