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BUSINESS NEWS

Oman Cables chairman retires

Muscat - 

The chairman of Oman Cables Industry and one of its founders, Mustafa al Lawati, has retired after serving more than 30 years on the company’s board. 

NBO adds name to list of United Finance suitors

Muscat - 

After Bank Nizwa and Al Omaniya Financial Services earlier in the year, it is National Bank of Oman’s turn to evince interest in acquiring United Finance Co's operations.

MSM30 inches down on weak volumes

Muscat - 

The general index of the Muscat Securities Market dropped a marginal 0.07 per cent to close at 6,318.28 on Sunday.

H E Rumhi, Restucci in ME oil industry's top 10 power list

Muscat - 

H E Dr Mohammed al Rumhi, Minister of Oil and Gas and chairman of the PDO board of directors, and PDO managing director Raoul Restucci have been named among the most powerful and influential people in the Middle East oil and gas sector.

Duqm Refinery awards site preparation work to Galfar

Muscat - 

Duqm Refinery announced that Galfar Engineering and Contracting has been awarded the tender for site preparation work for its upcoming refinery at the Special Economic Zone in Duqm.

Bank Muscat enhances online banking service

Muscat - 

Bank Muscat has launched a state-of-the-art online banking service redefining banking with convenience. 

Phoenix Power Co’s IPO opens on May 10

Muscat - 

Phoenix Power Co, which owns and operates the Sur Independent Power Plant (IPP), has announced its initial public offering (IPO), which will be open for subscription from May 10 to June 8.

Omantel net profit hits RO34.6mn in Q1

Muscat - 

Omantel has posted a 7.6 per cent growth in group revenue for the first quarter of this year following a good performance on the domestic front. 

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