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Oman

Oman’s Budget deficit falls to lowest level in four years

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MUSCAT – Oman’s public finances are continuing to improve with the sultanate’s budget deficit for the full year 2018 falling to the lowest level in four years. According to the preliminary estimates of the closing of the government finance accounts for fiscal year 2018, Oman’s budget deficit last year decreased to RO2.7bn against RO3bn estimated in 2018 budget, Oman News ... Read More »

Oman to see 40 million airport passengers by 2030

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Oman will see as many as 40 million passengers fly through the Gulf country by 2030, according to the Oman Aviation Group, which was set up in 2018 to develop the sultanate’s aviation sector. Since its establishment, the group created over 980 direct Omani jobs and supported nearly 8,000 indirect jobs in Oman. It also played a major role in ... Read More »

Blue Star posts Q3 net loss of Rs 94 crore, to exit JV in Oman

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Air conditioning and commercial refrigeration firm Blue Star posted a loss of Rs 94 crore in the December quarter compared to a profit of Rs 13.36 crore in the year-ago period. The company reasoned that this was due to a one-time expense of Rs 7.17 crore on its platinum jubilee celebrations and provision of Rs 14.46 crore towards exposure in ... Read More »

Oman seeks to transform economy by 2040

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Oman is attempting to diversify its economy beyond oil resources, which has been its main engine for growth for many decades. The Omani government has laid out its plan in Oman Vision 2040, a road map that seeks to improve various socio-economic areas in the country by implementing a broad set of regulatory and bureaucratic reforms. The roadmap document, which ... Read More »

UAE retail giant opens new $117m Oman mall

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UAE-based mall operator Majid Al Futtaim has opened its fourth shopping and leisure destination in Oman. The launch of City Centre Suhar brings the total number of malls within Majid Al Futtaim’s shopping malls portfolio to 24. With an investment of OR45 million ($117 million), the mall houses international and regional retail stores such as The Body Shop and Max ... Read More »

Oman’s share index ends lower marginally

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Muscat: The MSM30 index ended lower at 4,258.10 points by 0.51 per cent. MSM Sharia Index closed at 590.74 points, down by 0.89 per cent. Bank Sohar was the most active in terms of volume while Bank Muscat was the most active in terms of turnover. The top gainer was Muscat Finance which closed higher by 3.49 per cent while ... Read More »

GALFAR WINS RO2.9MN DEAL FROM OMANTEL

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MUSCAT: Galfar Engineering and Contracting Co announced that it has been awarded a contract worth RO2.87mn by Omantel. The company has been awarded the tender for replacement and upgrading of HVAC systems and allied electro-mechanical and civil works for exchanges at Muscat, Wattayah, Azaiba and TCC Salalah-Phase III by Omantel, Galfar said in a filing to the Muscat Securities Market. ... Read More »

Oman Air eyes more seats from India, bets on leisure, medical tourism

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Oman Air is hopeful for an increase in traffic rights to India which would drive more leisure tourists to the West Asian country and help feed its flights to Europe and Africa. At present, Oman Air operates 161 flights per week to eleven Indian cities, utilising the 27,000 seats allocated to airlines from each country. Oman is seeking an increase ... Read More »

Oman mulls extending expat visa ban

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Oman’s visa ban which currently limits expat jobs across 87 professions could be extended as per local job market needs, according to a top official at the Ministry of Manpower. The six-month ban will expire at the end of January 2019, but may be extended for another half year, Salim bin Nasser Al Hadhrami, Director General of Planning and Development ... Read More »

‘Drug related arrests drop in Oman, as smugglers avoid Sultanate route’

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Muscat: Drug cartels and organised traffickers avoid Oman as a smuggling route, according to Royal Oman Police (ROP), thanks to the force’s efforts to keep the Sultanate safe. Fewer arrests occurred due to a drop in drug-related crimes in 2017, according to data exclusively shared with the Times of Oman. The number of drug crimes, those arrested and the quantities ... Read More »

Pact signed to train 1,000 Omanis in Sohar

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Muscat: A capability building agreement (CBA), under which 1,000 Omanis will be trained, has been signed between SV Pittie Sohar Textiles and National Training Fund. The training, to be imparted at the SV Pittie Training Centre in Sohar will equip the trainiees with the right foundational and technical skill set so they can be employed in the company’s textile project. ... Read More »

Drug related arrests drop in Oman, as smugglers avoid Sultanate route: ROP

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Muscat: Drug cartels and organised traffickers avoid Oman as a smuggling route, according to Royal Oman Police (ROP), thanks to the force’s efforts to keep the Sultanate safe. Fewer arrests occurred due to a drop in drug-related crimes in 2017, according to data exclusively shared with the Times of Oman. The number of drug crimes, those arrested and the quantities ... Read More »

Expats arrested for smuggling alcohol in Oman

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Muscat: Two expats of “asian nationality” have been arrested by the Coast Guard police, on charges of smuggling alcohol, the Royal Oman Police (ROP) has announced. In addition to that, the coast guard also provided assistance to two Omani boats, officials said. In the first case, the accused were arrested near the Dibba coast, when police found over 1,400 cans ... Read More »

Drug related arrests drop in Oman, as smugglers avoid Sultanate route: ROP

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Muscat: Drug cartels and organised traffickers avoid Oman as a smuggling route, according to Royal Oman Police (ROP), thanks to the force’s efforts to keep the Sultanate safe. Fewer arrests occurred due to a drop in drug-related crimes in 2017, according to data exclusively shared with the Times of Oman. The number of drug crimes, those arrested and the quantities ... Read More »

Singapore, Oman see potential to do more together

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SINGAPORE: Singapore and Oman reaffirmed their warm relations during Deputy Prime Minister Teo Chee Hean’s trip to the Arab country over the weekend and acknowledged there was potential for further cooperation between the two sides. DPM Teo, who is also Coordinating Minister for National Security, called on Oman’s Deputy Prime Minister for the Council of Ministers Sayyid Fahd Mahmoud Al ... Read More »

Oman Police Arrests 3 Expats for Human Trafficking, Smuggling Drugs

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Three expats were arrested on charges of human trafficking and smuggling narcotics into the Sultanate, the Royal Oman Police (ROP) announced. In the first case, two expats were arrested on the coast of the Wilayat of Liwa when they were attempting to bring in drugs and illegal migrants. In the second case, an expat was arrested in Bidbid on charges ... Read More »

Oman could announce US dollar sukuk sale this week

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The government of Oman could announce a plan to issue new US dollar-denominted sukuk, or Islamic bonds, as early as Monday, sources familiar with the matter said, speaking on condition of anonymity. One of the financially weakest states in the Gulf, Oman has borrowed extensively in the international markets over the past few years to finance state spending and development ... Read More »

Oman police arrest 2 expats for human trafficking, smuggling drugs

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Oman policed announced two expats of “Asian” origins were arrested on charges of human trafficking and smuggling drugs into the sultanate. The arrests were made on the coast of the Wilayat of Liwa when the expats were attempting to bring drugs and illegal migrants into Oman, Times of Oman reported. “The officers of the Anti-Narcotics and Psychotropic Substances Department, led ... Read More »

Oman’s Renaissance mulls $1.5b Topaz Energy IPO

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Oman’s Renaissance Services SAOG, a service provider to the oil and gas industry, is considering an initial public offering for its Topaz Energy & Marine unit, according to people familiar with the matter. Renaissance, which has a market capitalisation of about $379 million (Dh1.37 billion), could seek a valuation of about $1.5 billion for the Dubai-based business, the people said. ... Read More »

Drug related arrests drop in Oman, as smugglers avoid Sultanate route: ROP

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Muscat: Drug cartels and organised traffickers avoid Oman as a smuggling route, according to Royal Oman Police (ROP), thanks to the force’s efforts to keep the Sultanate safe. Fewer arrests occurred due to a drop in drug-related crimes in 2017, according to data exclusively shared with the Times of Oman. The number of drug crimes, those arrested and the quantities ... Read More »