Ominvest said last month it had written to ONIC Holding about forming a strategic arrangement between the two firms
The new chain of outlets will be located across the country with the first two outlets opening in Muscat, the company said.
Qatar Ooredoo was impacted by the political situation in Iraq and start-up costs for its business in Myanmar.
Oman Air is among the first carriers to touch down, operating four flights a week from Muscat on Embraer 175 aircraft.
Net profit rose despite a drop in sales despite a drop during the first half of the year.
A plan is expected to be put together within three months.
Any potential tie-up between the pair would be subject to both firms agreeing terms as well as receiving the approvals of shareholders and regulators.
The bank made a quarterly profit of OMR46.6 million ($121 million) in the second quarter compared to OMR38.1 million in the corresponding period of 2013.
The refinery has capacity to process 116,000 barrels per day of Omani crude.
The bank made a profit of SAR10.28 million ($26.7 million) in the three-month period to June 30 compared to SAR8.36 million in the same period last year.
Overall hotel revenues in Oman reached OMR65.9 million, up 10 per cent from the same period last year, when it touched OMR59.7 million.
Talal Said Marhoon al-Mamari was previously chief financial officer of the company.
Under new rules announced last week, retailers and traders no longer needed to ask the government for permission to raise prices.
The firm plans to raise the amount from a loan or bond issue by the middle of next year.
The central bank seized control of Corpbank, in which Oman fund holds a share, after a run on the lender.
Al Suwadi Power Co and Al Batinah Power Co, each offered a 35 per cent stake to the public in offerings worth a combined $162.9 million.
Under new rules announced last week, permission will only need to be sought to increase prices of essential items such as rice, tea and fish.
Oman Oil Refineries and Petroleum Industries Co (Orpic) said supply to the market will not be interrupted.
The low-cost carrier will now operate 21 weekly flights between the UAE and Muscat.
The lender did not give a size or time frame for the potential sale of the unit.
The Sultanate’s largest cement firm by market value has appointed Salem Alawi Mohammed Baabood as chief executive.
A merger between the two banks would create Oman’s second biggest bank by asset value, with assets worth around 4.78 billion rials ($12.42 billion).
If all the applied stressed scenarios materialise, the banking system will need $201.3 million to recapitalise five deficient banks.
Mohammed bin Nasir Al-Khusaibi was found guilty of paying bribes worth $1 million to officials to win an airport contract.
The move is part of mall operator Majid Al Futtaim’s $29.3 million redevelopment plan for Oman.
The issue, which will be done as a private placement, will help boost the bank’s core capital.
The two firms’ owners aim to raise a combined $163 million through the sale of 35 per cent of each company.
Ahmed al-Musalmi, who has served as deputy chief executive officer for the bank since 2011, succeeds Salaam al-Shaksy.
Omantel attributed the profit rise to a 29 per cent increase in wholesale revenue.
Further privatisations of state-owned companies in Oman were also unlikely to take place in 2014, its financial minister said.