BUSINESS NEWS

Bankers hail CBO's new stipulation on personal and housing loans

Muscat -

The Central Bank of Oman's (CBO) move to cap the debt-burden ratio - the ratio of equated monthly instalment (EMI) to borrower's income - for personal and housing loans would help ease customer debt burdens and improve the quality of the lenders' loan portfolios, according to bankers.

Renaissance first quarter 'muted' on seasonality

Muscat -

Seasonal factors affecting the company's marine unit and losses in its engineering unit are behind the 'muted' first quarter results of Renaissance Services, according to company officials and analysts.

Omanoil signs exclusive deal with Etihad

Muscat -

Oman Oil Marketing Company (Omanoil) has signed an aviation fuel agreement with Etihad Airways, which flies to 84 destinations across the globe, to become the carrier’s sole provider in the sultanate.

Gemalto announces ITA eGovernment tie-up

Muscat -

Oman's Information Technology Authority (ITA) has appointed Gemalto, a global leader in digital security, as a prime contractor to secure the country's eGovernment services.

Selling pressure pulls down MSM shares

Muscat -

Local stocks faced further selling pressure on negative regional and international markets and investors’ preference for bargain gains from upcoming initial public offers.

Investment holding firms back in profit after lacklustre 2011

Muscat -

Investment holding companies in Oman returned to profit in the first quarter after suffering losses on capital market investments in 2011, when regional markets were hit by the Arab Spring and the eurozone debt crises.

Galfar Q1 net profit jumps almost 25%

Muscat -

Galfar Engineering and Contracting is expecting a strong 2012 and business to return to 'normal' after the company announced that first quarter net profit rose almost 25 per cent.

BankMuscat board members attend workshop on corporate governance

Muscat -

BankMuscat, the flagship financial services provider in the sultanate, in partnership with Global Board Centre of the Institute of Management Development, Switzerland, has organised a workshop on corporate governance for the bank’s board of directors.