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BUSINESS NEWS

Oman Oil in talks to buy Oxy assets in sultanate

Oman Oil Co chief executive Eng Isam al Zadjali speaks at the Oman Energy Forum on Tuesday
Muscat - 

Oman Oil Co is in talks with Occidental Petroleum Corporation (Oxy) to buy its assets in the sultanate, chief of the national oil investment company said on Tuesday.

‘Caution’ on oil prices may mark next budget

H E Nasser al Jashmi (right) at the Oman Energy Forum on Tuesday
Muscat - 

The government has no intention to phase out or shelve any of its projects, but would adopt certain measures if crude oil prices continue to fall, according to a senior official at the Ministry of Finance.

MSM rebounds; Financial index up 0.76%

Muscat - 

The MSM30 index closed mildly higher on Tuesday, gaining 0.17 per cent at 6,912.70. 

Indian companies eyeing opportunities in Oman's infrastructure sector

A business interaction meeting was hosted by the Indian Embassy on Monday for the visiting delegation
Muscat - 

A number of Indian companies are looking for opportunities in Oman's booming infrastructure sector and to establish tie-ups with firms in the sultanate. This emerged out a business interaction meeting hosted by the Indian Embassy on Monday for a visiting business delegation.       

Oman’s H1 total exports drop 9.6%; imports decline 13.6%

Oman’s non-oil exports grew by 3.3% to RO1.85bn in the first half of 2014
Muscat - 

The total value of Oman’s exports - including oil, non-oil and re-exports - fell 9.6 per cent to RO10bn during the first half of 2014, against RO11bn in the same period last year.

H E Sheikh Abdullah al Salmi (left) and H E Yahya al Jabri (centre) at the GCC capital market regulators meeting

CMA attends GCC market regulators’ meeting

Muscat - 

The sultanate participated in the fifth meeting of the ministerial committee of boards of GCC capital market regulators held in Kuwait. 

Mohammad Haris

Sohar Islamic adds SME financing to portfolio

Muscat - 

In line with the government’s initiative to boost the small and medium enterprise (SME) sector in the sultanate, Sohar Islamic has announced another significant addition to its product portfolio – SME financing. This new product aims to provide a boost to entrepreneurs in Oman, while fully conforming to the precepts of Sharia’a law. 

Trevor Cullinan

Oman’s strong fiscal position will shield it against weak oil: Experts

Muscat - 

The recent decline in oil prices is not likely to challenge Oman’s economy in the short term due to the country’s strong external and government asset positions; but sluggish crude prices for longer periods could impact the sultanate’s budget balance, according to experts.

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