BUSINESS NEWS

Bank lending to private sector rises 6% in April, deposits up 2.3%

Muscat - 

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.

OPWP aims to reduce share of natural gas in Oman’s power generation by 17%

OPWP aims to reduce share of natural gas in Oman’s power generation by 17%
Muscat - 

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.

Broad-based recovery seen in Oman’s economy, says CBO

Broad-based recovery seen in Oman’s economy, says CBO
Muscat - 

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).

Oman Trading International buys 40% stake in Kenya-based Hass Petroleum

Muscat - 

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.

DGC plans to list shares on Aug 15, expects strong response for IPO

DGC plans to list shares on Aug 15, expects strong response for IPO
Muscat - 

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.

Business Interview: ‘Textile industry has always triggered industrial revolutions’

Business Interview: ‘Textile industry has always triggered industrial revolutions’

Muscat - 

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.

Reforms and rise in oil prices may help Oman in reducing deficit: IMF

Reforms and rise in oil prices may help Oman in reducing deficit: IMF

Muscat - 

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 signs deal for monitoring air quality

Sohar Port and Freezone signs deal for monitoring air quality

Muscat - 

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.



Muscat daily recycle
COLUMNS

Collage Art in Oman and Copyright Law

The collage artwork of Greek artist Kostis Grivakis has taken the Omani Internet by storm, but unfortunately the legality of his artwork is questionable under Omani copyright law.