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BUSINESS NEWS

Oil at $60 gains more backers on forecast for higher US demand

Abu Dhabi - 

The United Arab Emirates’s Economy Minister joined forecasters looking for US$60 crude this year with demand and production moving more in line.

MSM30 drops 0.88% as activity rises

Muscat - 

The Muscat Securities Market (MSM) witnessed selling pressure on Monday as the benchmark index fell by 0.88 per cent to close at 5,838.56 points.

Oman needs $8bn in power-sector investment by 2020, says Apicorp

Oman needs $8bn in power-sector investment by 2020, says Apicorp
Muscat - 

The rising demand for electricity will require Oman's power generation capacity to grow at an annual rate of 9.6 per cent over the next five years and the country will need to add 4.8GW capacity by 2020, involving an investment of US$8bn, according to Arab Petroleum Investment Corporation (Apicorp).

MSM30 drops as investors turn cautious

Muscat - 

The MSM30 index closed Sunday’s session down 0.41 per cent at 5,890.45 with investors turning cautious ahead of Ramadan, about a week away. Market breadth was negative with just three stocks posting gains, against 22 decliners.

CMA setting benchmark for corporate ethics, says official

CMA setting benchmark for corporate ethics, says official
Muscat - 

The Capital Market Authority (CMA), under the leadership of its executive president H E Abdullah al Salmi, has undertaken the task of promoting and preserving transparency and accountability in the corporate sector to boost investor confidence and protect stakeholders, according to the market regulator’s director general.

Sultanate wins three MEED awards for project excellence

Sultanate wins three MEED awards for project excellence

Muscat - 

Oman-based projects were among the big winners at the recently concluded 2016 MEED Quality Awards for Projects.

OTE named ‘Hyundai Best ME Dealer for After Sales’

OTE named ‘Hyundai Best ME Dealer for After Sales’

Muscat - 

Oman’s OTE group has won the ‘Hyundai Best Middle East Dealer for After Sales’ award.

Oman-Iran Investment Forum to be held on Tuesday

Muscat - 

The Oman-Iran Investment Forum, organised by the Public Authority for Investment Promotion and Exports Development, also known as Ithraa, in collaboration with the sultanate's Embassy in Iran and the Iran Chamber of Commerce, Industry and Minerals, will be held on Tuesday in Iran.



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