Total bank credit to Oman’s private sector rose six per cent to RO21.5bn as of the end of April 2018 compared to a year ago period.
As a part of its fuel diversification plan, Oman Power and Water Procurement Company (OPWP) is planning to reduce the share of natural gas fuel in Oman’s electricity generation to 83 per cent by 2024 from current 100 per cent.
Oman’s economy rebounded from a contractionary phase and recorded a broad-based recovery with a nominal growth of 8.7 per cent during 2017, according to a report published by the Central Bank of Oman (CBO).
Kenya-based Hass Petroleum has announced that an Omani firm Oman Trading International (OTI) has brought a 40 per cent stake in the company for an undisclosed amount, which will enable the African firm to fund its expansion plans through Eastern and Central Africa.
Dhofar Generating Company (DGC), whose initial public offering (IPO) is on the offer, plans to do its listing on August 15 and has expressed confidence about getting a strong response for the issue, a senior company official said on Wednesday.
Vinod Pittie, chairman of SV Pittie Group was recently in Oman for laying the foundation for a training centre, which would come up along a proposed yarn-making facility. In an interview with Muscat Daily, he said setting up of textile industry has always been a first step towards industrialisation in history, and the same may also happen in Oman.
The International Monetary Fund (IMF) has lauded the efforts taken by authorities in Oman to realign finances while predicting that rise in oil prices, and ongoing reforms could help the sultanate in reducing deficit.
Sohar Port and Freezone on Sunday announced that it has signed a contract with Nakheel Environmental & Industrial Solutions, in cooperation with Sohar tenants, for installing, operating, and maintaining an ambient air quality monitoring network (AQMN) in Sohar.
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