RMS launches India operations
May 5, 2013
Risk Management Services LLC, Oman, has announced the commencement of the insurance broking operations of its associate, RMS ARC Insurance Brokers Pvt Ltd, in India. RMS already operates through a subsidiary in Pakistan and is currently awaiting regulatory approval to start a similar broking business in Sri Lanka.
According to a press"...
Bank Nizwa may be included in MSM30 Index
May 5, 2013
Bank Nizwa, the Sultanate's first Islamic bank, is likely to be included in the MSM 30 Index — the barometer of the market movement. Since the liquidity in Bank Nizwa counter has increased tremendously in the recent past due to speculative trading, the bank is likely to be included in the basket of stocks considered for the general index. The bank listed its shares, following an initial public offering, last year.
The overall trading activity has come down in Bank Nizwa counter in the last couple of weeks as only long-term"...
OIFC full-year net profit soars 160%
May 5, 2013
Oman Investment and Finance Co (OIFC) has reported a 160.4 per cent growth in net profit for the year ended March 31, 2013, to RO9.15mn from RO3.51mn in the previous year. According to the company's disclosure to the Muscat Securities Market (MSM) on Wednesday, total assets increased 40.25 per cent to RO79.20mn from RO56.47mn a year ago. Company's earnings per share (EPS) increased 125.4 per cent to 65bz from 29bz. OIFC's operating income rose 10.18"...
Tender Board chief visits new Amiantit Oman facility
May 5, 2013
The chairman of the Tender Board, Dr Rasheed al Huraibi, visited recently the newly built manufacturing facility of Amiantit Oman Concrete Products. Amiantit Oman - a joint venture of Omzest, Sheikh Suhail Bahwan Group and Sheikh Saud Salim Bahwan Group - had inaugurated its new facility at the Rusayl industrial area a few months ago. The facility manufactures, among other things, pre-stressed steel cylinder pipes, precast box culverts, precast concrete manholes and reinforced concrete"...
Craft excellence contest’s Regulation approved
May 5, 2013
The bylaw organising the Sultan Qaboos Craft Excellence Contest was approved here recently by Aisha bint Khalfan al Siyabiyah the Chairperson of the Public Authority for Craft Industries. The bylaw comprises terms for organising the two-yearly contest and the prizes, namely the competition’s cup and cash prizes. The competition aims to safeguard the craft industries heritage of the Sultanate, notably by raising public awareness about the professions and developing it and by encouraging project owners to utilise this deep-rooted experience honed by leagues and leagues of Omanis. Research...
4,500 delegates attend Africa Global Business Forum 2013
May 2, 2013
Business leaders urged Africa to realise its full potential and work with Dubai to harness the power of its key sectors, at the Africa Global Business Forum 2013, held under the attendance and patronage of H.H. Sheikh Mohammed bin Rashid Al Maktoum, UAE Vice President and Prime Minister and Ruler of Dubai.
Over the two-days, more than 4,500 attendees came together to discussed"...
Telekom Austria Group Selects ZTE as Sole Supplier to Deploy Converged Voice Network
May 2, 2013
ZTE Corporation (H share stock code: 0763.HK/ A share stock code: 000063.SZ), a publicly-listed global provider of telecommunications equipment, network solutions and mobile devices, is to provide a CS/IMS converged voice network to the Telekom Austria Group. ZTE is realising this project under collaboration with KCC (Kapsch Carrier Com), a well experienced local system integrator.
Under"...
General Cable Reports First Quarter Results within Management’s Range of Expectations Led by Acquisitions and Base Businesses in North America
May 2, 2013
General Cable Corporation (NYSE: BGC), one of the most globally diversified industrial companies, reported today results for the first quarter ended March 29, 2013. Each of the Company’s three reportable segments performed as expected to start the year led by acquisitions and solid results in North America’s base businesses. Excluding certain items, adjusted earnings per share of $0.23 and adjusted operating income of $46.2 million were within management’s range of expectations for the first quarter of 2013."...
Silanis Recognized as a Leader in Electronic Signatures, Says Independent Research Firm
May 2, 2013
Silanis Technology today announced that Forrester Research Inc. has recognized Silanis as a Leader in e-signatures in the firm’s report The Forrester Wave™: E-Signatures, Q2 2013. The report states, “Silanis is the strongest vendor with both an on-premise and cloud offering.”
Silanis was among the select companies that Forrester invited to participate"...
Addivant Transaction Completed – New Ownership, Name and Expansion Plans Announced
May 2, 2013
With its purchase by SK Capital finalized today, the global leader in specialty additives unveiled a new corporate identity and announced plans for expansion, a broader product offering and increased emphasis on innovation. AddivantTM, the former Antioxidant and UV Stabilizer Solutions business of Chemtura Corporation, will operate as an independent portfolio company of SK Capital.
“With"...
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