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BUSINESS NEWS

Bank Muscat posts Q1 net profit of RO39.76mn

Bank Muscat’s non-interest income increased 24% to RO30.12mn in the first quarter of 2014
Muscat - 

Bank Muscat has announced a net profit of RO39.76mn for the first quarter ended March 31, 2014, compared with a net profit of RO24.99mn reported during the same period in 2013, an increase of 59.1 per cent. The bank reported its preliminary first-quarter results on Wednesday.

HSBC Bank Oman to sell its India business to Doha Bank

HSBC Bank Oman to sell its India business to Doha Bank
Muscat - 

HSBC Bank Oman announced on Wednesday that it has entered into an agreement to sell its banking business in India to Doha Bank QSC.

NCSI foreign investment survey for 2013 underway

Foreign direct investment into the sultanate in 2012 was focused on oil and gas exploration, with the sector accounting for 46.6% of the total
Muscat - 

The National Center for Statistics and Information (NCSI) is conducting the annual foreign investment survey for 2013, with the objective of updating data and providing decision makers with accurate data on the levels of foreign investment in the sultanate. 

MSM30 inches up; turnover rises 5.5%

Muscat - 

The MSM30 ended Wednesday’s trading session mildly higher, closing at 6,827.10, up 0.05 per cent.   

Oman to lead ME in tourism growth: Report

Oman is forecast to attract 2.86mn international tourists by 2024, according to the WTTC
Muscat - 

The sultanate is expected to lead the Middle East in terms of growth in the travel and tourism industry and to post one of the strongest growth rates worldwide in the sector in 2014, according to a report released recently by the World Travel and Tourism Council (WTTC).

Abdulnasir al Raisi

Bank Muscat expands corporate network with 3 more branches

Muscat - 

Bank Muscat has established three more exclusive corporate banking branches across the sultanate, as part of its efforts to further enhance convenience and add value to services offered to corporate and government customers, said a press release on Tuesday. 

Maisarah signs partnership with Al Madina Takaful

Maisarah signs partnership with Al Madina Takaful

Muscat - 

Maisarah Islamic Banking Services, the Islamic banking window of BankDhofar, continues to work towards providing Sharia'a compliant financial solutions and services, with its latest offering, the result of a recent tie-up with Al Madina Takaful, to organise takaful coverage for its customers, a press release said on Tuesday. 

Dr Mohamed Abdulaziz Kalmoor

Bank Sohar named ‘Best Financial Brand Oman 2014’

Muscat - 

Bank Sohar was recently named the ‘Best Financial Brand Oman 2014’ by UK-based Global Brands Magazine. The award was presented after the renowned independent branding magazine analysed Bank Sohar's performance across 14 categories, encompassing every aspect of its business.  

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