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BUSINESS NEWS

12 consortia seek to pre-qualify for sultanate's biggest water project

The Sembcorp Salalah RO desalination plant (Courtesy: omanpwp.com)
Muscat - 

As many as 12 consortia are seeking to pre-qualify to participate in the main contract tender to develop Oman's largest independent water project (IWP) in Barka and Sohar. 

OPWP appoints project manager for pricing system

Muscat - 

Oman Power and Water Procurement Co (OPWP) announced the appointment of John Mather as project manager for the implementation of the proposed new spot market pricing system. 

CBO chief opens regional seminar

H E Hamood bin Sangour al Zadjali
Muscat - 

H E Hamood bin Sangour al Zadjali, executive president of the Central Bank of Oman (CBO), inaugurated a regional seminar on ‘Regulating and Supervising Systemic Banks’ on Monday at Intercontinental Muscat. 

GCC banks continue double-digit growth momentum: BCG study

Dr Reinhold Leichtfuss
Muscat - 

According to a new study by The Boston Consulting Group (BCG), the banking industry in the Middle East maintained double-digit revenue growth in 2014 with a ten per cent increase while profits rose by 14.7 per cent, stemming largely from major customer segments such as retail and corporate banking as well as international business and treasury. 

MSM30 index gains on earnings outlook

Muscat - 

The MSM30 index closed Monday’s trade with a gain of 0.42 per cent to 6,214.99, continuing from where it left off on Sunday.  

Ben Bella buys back stake from Sharakah

Muscat - 

Ben Bella Trading has exited the equity partnership with Sharakah by buying back all its shares with the SME development company in Oman.

A container ship leaves the Yangshan Deep Water Port in Shanghai, China (Bloomberg)

Oman trade with India down sharply in ‘14

Muscat - 

After posting an impressive growth in the previous years, Oman's bilateral trade with India fell sharply in 2014, driven by a major slump in imports and crude exports.

CBO’s seminar for GCC regulators from today

Muscat - 

H E Hamood bin Sangour al Zadjali, executive president of the Central Bank of Oman, will inaugurate  on Monday a regional seminar on 'Regulating and Supervising Systemic Banks,' to be held at InterContinental Muscat. 

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