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BUSINESS NEWS

Omantel drops plans for RO50mn sukuk issuance

Omantel drops plans for RO50mn sukuk issuance
Muscat - 

Omantel announced on Wednesday that it has decided not to proceed with its dual-currency sukuk issuance “due to the high profit rate as well as unfavourable market conditions.”

Sezad signs pact to develop govt berth at Port of Duqm

Sezad signs pact to develop govt berth at Port of Duqm
Muscat - 

H E Yahya al Jabri, chairman of the Special Economic Zone Authority of Duqm (Sezad), has signed an agreement with Combined Group Contracting Co (CGCC) for the fourth package of Port of Duqm involving the construction of a government berth.

Petrogas to acquire Swedish company’s North Sea assets

Muscat - 

PA Resources, a Sweden-based oil and gas company with operations in eight countries, has signed an agreement to divest its portfolio of North Sea assets to Oman-based Petrogas E&P.

MSM30 posts gains amid drop in activity

Muscat - 

Wednesday witnessed volatile trading, which coincided with low investment activity in the Oman market.

Deals signed to expand Renaissance Village

Muscat - 

Sezad chairman H E Yahya al Jabri has signed two agreements with Renaissance Services Co.

Al Omaniya Financial recommends 25% dividend

Muscat - 

Al Omaniya Financial Services’ board of directors has recommended a dividend of 25 per cent - comprising 17 per cent cash, three per cent stock dividend and five per cent compulsorily convertible bonus stock bonds - for 2015.

Oman climbs four places in economic freedom ranking

Muscat - 

Oman was ranked the sixth freest economy in the Middle East and North Africa region in the 2016 Index of Economic Freedom, an annual publication of the US-based think-tank Heritage Foundation and the Wall Street Journal.

Topaz adds an anchor handler; fleet reaches 100

Muscat - 

Topaz Energy and Marine, a subsidiary of Renaissance Services, has expanded its fleet with the acquisition of the anchor handling tug supply (AHTS) vessel Mamlaka, taking its total number of vessels to 100, including three newbuilds currently under construction.

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