THE COMPANY: Phoenix Power’s core activity is to develop, finance, operate, maintain and insure a gas-fired power generating plant located in Sur Industrial Estate between the Oman LNG terminal and Oman India Fertiliser Company plant. The plant has been in full commercial operation since December...
Oman’s stock exchange, the Muscat Securities Market (MSM), saw an uptick in equity listings in 2014. Although 2015 has been more subdued, several firms have announced plans for initial public offerings (IPOs). Market capitalisation is small by regional standards and the market also has comparatively low levels of trading, although regulatory...
The creation of Oman’s Islamic banking segment dates back to 2012, when the Central Bank of Oman (CBO) launched the Islamic Banking Regulatory Framework. The following year the regulator issued licences for the country’s first two sharia-compliant banks, alizz islamic bank and Bank Nizwa. Islamic windows have also been launched at six...
As part of the effort to diversify Oman’s economy, the authorities are keen to boost growth in the small and medium-sized enterprise (SME) segment, which is comparatively underdeveloped. The segment is thought to contribute 16-20% of national GDP, which the Central Bank of Oman (CBO) in a 2014 report described as “indicative of a sector with...
Despite a fall in the international price of oil in the run-up to its launch, the government’s 2015 budget is based around a 4% increase in government spending (on budgeted as opposed to actual expenditures in 2014), to OR14.1bn ($36.5bn). The budget, which forecasts government revenues to stand more or less unchanged on 2014 figures at OR11....
What do you see as the most significant impact over the coming years of the introduction of Basel III regulations in Oman?
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