BUSINESS NEWS

Bank Muscat board attends AAOIFI session

Bank Muscat board attends AAOIFI session
Muscat - 

The board of directors of Bank Muscat led by chairman Sheikh Khalid bin Mustahail al Mashani and Meethaq Sharia supervisory board led by its chairman Sheikh Dr Ali Qaradaghi held a joint meeting which was focused on the governance role of the board on Islamic banking window operations.

Nama Holding signs advisory agreement to raise RO750mn

Muscat - 

Nama Holding signed an advisory agreement with Bank Muscat and JP Morgan to raise approximately RO750mn.

Salalah Port’s profit rises on higher volume growth

Salalah Port’s profit rises on higher volume growth
Muscat - 

Despite uncertain global economic circumstances Port of Salalah’s container terminal handled 3.33mn TEUs (twenty foot equivalent units) in 2016 compared to 2.57mn TEUs in the previous year, posting a growth of 29 per cent.

Oman Cement’s net profit rises 10% on higher sales

Oman Cement’s net profit rises 10% on higher sales
Muscat - 

Helped by higher sales turnover and investment income, the net profit of Oman Cement Co rose by ten per cent for the year ended December 31, 2016. The company’s 2016 net profit increased to RO12.87mn as against RO11.7mn reported in the previous year.

Dhofar Fisheries to enter into new activities amid mounting losses

Musalbh; - 

Dhofar Fisheries & Food Industries Co has planned to enter into new business activities in a bid to turnaround the weakening financial position of the company. The loss-making company is focusing to diversify into a wider portfolio of products rather than depending solely on tuna canning which is a highly competitive and low margin business.

Sohar Port and Freezone reports strong performance in 2016

Sohar Port and Freezone reports strong performance in 2016

Muscat - 

Sohar Port and Freezone revealed updated performance figures during its annual business reception at The Chedi Muscat last week.

Muscat Gases Co in talks with a ‘global entity’ to sell a stake

Muscat - 

Muscat Gases Company said that it has entered into negotiation and signed a non-binding expression of interest with a global entity to sell a stake in one of its line of businesses.

OPWP, Al Kamil Power pact extended till 2021

OPWP, Al Kamil Power pact extended till 2021

Muscat - 

Oman Power and Water Procurement Co (OPWP) and Al Kamil Power Co have signed a contract for the extension of power purchase agreement (PPA) with revised terms and conditions.



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