October 13, 2015   English | عربي
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October 13, 2015
Bank Muscat, the flagship financial services provider in the Sultanate, has won the Best Bank in Middle East and Africa for Liquidity Risk Management award by the Asian Banker. The bank is the first in the region to win this prestigious award from the Asian Banker.

The Asian Banker Risk Management Awards programme is designed to identify emerging best practices and outstanding achievements of the best run risk management teams in financial institutions. The awards are benchmarked globally by tracking developments around"...

October 13, 2015
“The three day expo will educate visitors how make the best decision about their future and explore more about higher education, training, and job options available to them in Oman and overseas”.

The second edition of EduTraC Oman was officially inaugurated by H.E Sheikh Khalid bin Omar Al Marhoon, Minister of Civil Services at Oman International Exhibition Centre. EduTraC Oman has established as the benchmark event and the three-day event is take place under the patronage of Ministry of Higher Education, Ministry of Education – National Career Guidance Center, Ministry...

Foundation stone laid for 120 megawatt-Musandam power project
October 13, 2015
A foundation stone laying ceremony to build the first independent power project in Musandam with a generation capacity of 120 megawatt was held on Monday.

Musandam Power Company (MPC) is developing the Musandam independent power project (Musandam IPP) based on high and world-class standards and technology. MPC has selected dual fuel reciprocating engines configuration for the project, following a competitive pre-qualification and tendering process to deliver flexible, lowest life cycle costs and sustainable energy to the governorate, said a company release.

The plant will use natural...
Bank Sohar net at 21.3m rials on better performance in Q3
October 13, 2015
Bank Sohar has posted a marginal increase in its net profit for the third quarter ended September 30 compared to the previous quarter.

The bank, which has been in talks with Bank Dhofar for merger, posted a net profit of 21.29 million rials during the three quarters ended September 30, which is 10.35 per cent lower than 23.75 million rials in the same period last year.

It has witnessed substantial growth in its loan book and also seen its assets growing.

According to a filing to the Muscat Securities Market (MSM), the bank said its net profit from conventional...
Iranian automobile company plans assembly unit in Oman
October 13, 2015
Oman has made a request for Iran Khodro Industrial Group (IKCO) to establish a production site in the Sultanate, said IKCO’s chief executive officer and president Hashem Yekeezare after a meeting with the Yahya bin Said bin Abdullah Al Jabri, chairman of the Special Economic Zone Authority of Duqm (Sezad).

At the meeting, Iran Khodro Industrial Group’s chief executive officer referred to the historic relations between Iran and Oman adding that the site can provide Iran Khodro with an easy access to markets deep in eastern and northern regions of Africa. He also expressed hope...

Omifco expansion to boost capacity by 30% at Sur plant
October 13, 2015
The planned debottlenecking project at Oman-India Fertiliser Company’s (Omifco) Sur plant will increase production by 30 per cent, company CEO SG Gedigeri said on Monday.

The company was waiting for allocation of additional gas by the government before implementing the project. Part of the expansion plan includes a third train for producing ammonia and urea, which along with debottlenecking will double the plant’s current capacity.

This year the company expects urea production to touch 1.92 million tonnes.

Omifco is owned 50 per cent by Oman Oil Company,...
Inflation dips 0.32pc in Sept.
October 13, 2015
Oman’s inflation rate in September eased by 0.32 per cent compared to August, mainly owing to drop in prices of foods and non-alcoholic beverages, according to the latest statistics released by the National Centre for Statistics and Information (NCSI).

Food and non-alcoholic beverages, which is part of the consumer basket and has a weightage of 24 per cent in the Sultanate’s Consumer Price Index (CPI), saw a 0.56 per cent drop in price compared to the previous month. There was also a 10.42 per cent fall in fish and seafood prices.

The CPI-based year-on-year...
Khimji’s Watches showcases the latest Rolex Oyster Perpetual Yacht-Master
October 13, 2015
The new Rolex Oyster Perpetual Yacht-Master unveiled at the Baselworld 2015 is now available exclusively at Khimji’s Watches, the home of luxury in Oman. This definitive watch for the high seas featuring a bidirectional rotatable bezel to accurately track elapsed sailing time is dedicated to both yachting enthusiasts and experienced sailors. Its distinctive dial with large hour markers and hands ensures maximum legibility.

In its latest version, the Yacht-Master is offered in two sizes: 40 mm and a new 37 mm diameter."...

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