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Bank Dhofar Seeks Talks With Bank Sohar Board On Merger Proposal

A merger between the two lenders will create the second-largest bank in Oman with assets of about $10 billion.

Nine Officials, Executives Accused Of Corruption In Oman

The charges, mostly involving infrastructure projects, were outlined in six trials that opened on Sunday.

BP Signs Deal To Develop $16bn Oman Shale Gas project

The Khazzan gas project aims to extract around one billion cubic feet (bcf) per day of gas from deep under central Oman.

UAE, Oman Plan To Take On The Caribbean And Become Cruise Destination

Oman, Dubai and Abu Dhabi are each investing in building additional cruise terminals.

Total Inks Deepwater Drilling Deal Offshore Oman

The exploration program is expected to begin with seabed coring in 2014.

UK Introduces Electronic Visa Waiver For Emiratis

The document is issued immediately via a secure website and can be obtained online from anywhere in the world.

Gulf Firms Consider Bid For Occidental MidEast Stake

Abu Dhabi’s Mubadala Development Co, Qatar Petroleum and Oman Oil Co have formed a consortium.

Jumeirah Opening Muscat Resort in 2017

Luxury operator’s first Muscat property will provide resort competition to Shangri-La

Bank Muscat To Recover Pre-Paid Card Fraud Amount

The lender lost $39 million in a global pre-paid card fraud.

Looming Budget Crunch Pushes Oman Toward Debt Market

Government spending has been rising rapidly since 2011, when street protests demanding jobs prompted authorities to boost welfare handouts.

Petrofac-Daelim JV Wins $2.1bn Oman Contract

The three-year contract includes engineering, procurement, construction, start-up and commissioning services at a refinery in Sohar.

Oman Proposes Tax On Remittances As Budget Pressure Rises

The proposed tax would hit about 1.5 million migrant workers, most from south and southeast Asia.

Six Arrested In $45m Global Cybercrime Involving RAKBANK, Bank Of Muscat

The five men and one woman, all residents of New York City, were accused of being members of an unnamed global cybercrime organisation

Oman’s Public Wage Bill Could Rise By $2.3bn In 2014

A royal order to standardise salaries and grades across the public sector is projected to cost OMR800-900 million.

Broadband Revenue Boosts Omantel’s Q3 Profit

Omantel reported a net profit of 29.1 million rials in the three months to September 30, up from 28 million rials in the year-earlier period.

Oman’s First MERS-Coronavirus Sufferer Dies In Hospital

Qatar, Saudi Arabia and the United Arab Emirates last week reported four other people who had been admitted to hospital with the disease.

Oman Oil Minister Slams Gulf Culture Of Energy Subsidies

Mohammed bin Hamad Al Rumhy said a signal needs to be sent to ‘the pockets of the public’.

Oman Property Developer Sells Country’s First Sukuk

Oman began to introduce Islamic finance last year, becoming the last of the six Gulf Cooperation Council states to do so.

Oman To Launch $15bn Rail Construction In Q4 2014

The state-funded rail network would link the desert town of Buraimi, bordering the United Arab Emirates, to six major settlements in Oman.

Oman Reports First MERS-Coronavirus Case

A new case involving a 23-year-old expatriate resident has also been recorded in Qatar this week.

Oman’s Renaissance Unit Prices $350m Debut Bond

The five-year offering carried a coupon of 8.625 per cent

GCC Must Slash Energy Consumption – Oman Minister

Officials have called for a collective effort from GCC countries to curb their energy subsidies.

Oman’s Galfar Engineering Rights Issue 96% Subscribed

The Omani construction company raised OMR13.29 million through the issue.

Oman’s Bank Dhofar Q3 Net Profit Declines 10.8%

Oman’s second-largest bank by market value made a profit of OMR8.3 million

Oman Buys German Chemicals Maker Oxea

The deal was reportedly worth about 1.8 billion euros ($2.4 billion), according to sources.

MENA IPO Values Down 45% In Q3 2013

The region’s sole IPO in the third quarter of the year raised $138 million, lower than the $252.3 million raised in Q3 2012.

Salalah Embarks On Massive Infrastructure Development Drive

The once-sleepy port city has put itself on the map by expanding its infrastructure and cultivating thriving global companies.

Oman Cuts Interest Cap On Personal Loans To 6%

Annual growth in bank lending in Oman accelerated to a four-month high of 8.1 per cent in July.

Oman Air And Bank Muscat Launch Visa Credit Card

Co-branded card is designed to reward and enhance loyalty among frequent flyers

GCC Capital Expenditure To Rise By 8.2% In 2013

GCC states’ expenditure on rail schemes, expansion of power generation plants and housing projects is expected to boost capital expenditure in 2013.