Business


‘Railway link will make Oman a gateway to Gulf’

by ELHAM POURMOHAMMADI
The two-day Rail Exhibition and Conference was inaugurated in Muscat yesterday. The summit, themed ‘Connecting Oman to the Gulf Cooperation Council region’, was attended by government stakeholders and professionals. The event brought together regional and international experts from the rail sector to discuss and debate the best practices in the industry. – June Estrada/Times of Oman
Indian ambassador Mukul says the Oman National Railway project will help develop the tourism sector, and will give a fillip to the economy of the entire region

read more
Japanese exports rebound in boost for Abe’s policies
apan’s exports rose more than forecast in July, bouncing back from two straight declines to support an economy that contracted last quarter by the most since a record earthquake in 2011

StanChart fund to invest $75m in Renaissance unit
Standard Chartered Private Equity will inject $75m of equity in return for a 9.8% stake in the business. The funds will be deployed in support of Topaz’s long-term fleet expansion

Moody’s downgrades 4 South Africa banks
Moody’s Investors Service downgraded the local-currency ratings of South Africa’s four biggest lenders and kept them on review for a further cut following the collapse of African Bank Investments

StanChart fined $300m over risky transactions
Banking regulator also slammed restrictions on the bank’s dollar-clearing business for failing to detect possible money-laundering


More in Business
Sensex declines first time in seven sessions; rupee gains
Markets dropped for the first time in seven sessions yesterday with Sensex falling 106.38 points to end at 26,314.29 and Nifty easing by 22.20 points to 7,875.30
MSM index ends higher
Renaissance Services, which gained the most in yesterday’s trading, was the most active in terms of volume as well as turnover
StanChart fined $300m over risky transactions
Banking regulator also slammed restrictions on the bank’s dollar-clearing business for failing to detect possible money-laundering
Kuwait plans $7,565m petrochemical projects
Anticipating increased demand, Kuwait has planned to expand its petrochemical capacity from 3.4 MTPA in 2012 to 7.9 MTPA by 2015 at a compound annual growth rate of 32%
Kuwait’s Global in talks to sell stake in Oman’s Al Jazeera Steel
Global Investment House, which has restructured $1.7 billion of debt twice in the past five years, is in talks to sell its 51 per cent stake in Oman’s Al Jazeera Steel Products
Oman Oil Company board of directors appoints new CEO
Al Zadjali joins the company with over two decades of experience in the Oil and Gas sector
Inflation in Oman lowest in the GCC
On a month-by-month basis, the rate of inflation recorded a modest decrease of 0.10 per cent in Qatar and 0.07 per cent in the Sultanate by the end of June
Al Maha’s OMR7.9m IPO in Oman to open on Sept. 16
The share offer is subject to approval from the CMA on the prospectus and completion of necessary formalities related to the public offering
Abraaj eyes additional acquisitions in Africa
The group announced six deals in the region in the first half of 2014 and plans four more investments this year with an average value of $50 million to $100 million
Central Bank of Oman chief emphasises importance of insurance coverage
CBO has recently issued a special newspaper supplement in both Arabic and English to address the important subject of bank deposit insurance
Oil and gas mobile unit to boost safety, quality
According to the managing director of the firm, the pressure test unit, which normally operates on top of the wheels, can carry out all pressure test activities in clients’ premises
India's Sensex, Nifty climb to a new record on lower crude prices
Sustained buying by foreign funds as well as renewed purchases by domestic institutions also aided the uptrend
Muscat shares fall marginally
Al Suwadi Power was the top gainer of the day with 5.68 per cent gain, while Construction Material Industries was the top loser closing down by 5.66 per cent
China denies FDI slump linked to probes into foreign firms
FDI dropped to a two-year low in July but China denied any link to multiple probes it launched into foreign companies
BP Oman opens training centre to support Khazzan gas field
BP’s Technicians Training Centre provides a world-class learning environment for young and talented Omanis, recruited from technical colleges

POPULAR IN TIMES
Filipinos upbeat over Muscat-Manila air link
Philippine expatriates in Oman are happy about the news that Oman Air has got approval to fly direct to Manila, saying it would greatly improve the experience of passengers
Lebanese embassy in Muscat slams TV channel's report on His Majesty
The Embassy of Lebanon issued a statement here on Wednesday denouncing a report broadcast by a Lebanese TV channel on the health condition of His Majesty Sultan Qaboos bin Said
Omani boy, 4, crushed to death by electric gate of family villa in Ajman
Police believe child was too small to be detected by sensors
Expatriate salesman found dead in interior Oman
The victim has been identified by his friends as Siby, an automobile spare parts shop salesman, from the south Indian state of Kerala
Royal Oman Police arrests 95 infiltrators, deports 221
Ninety-five infiltrators of different nationalities who had entered the Sultanate illegally were arrested from various wilayats by the Royal Oman Police
Islamic State video claims to show beheading of US journalist
Foley, 40, was kidnapped by armed men on November 22, 2012, in northern Syria while on his way to the Turkish border
‘Train Omanis to put railway on the track’
Special courses and trained personnel will be required for operating and maintenance of the railway project, says GUtech expert
Oman tourism: 24% rise in visitors to Salalah
Omanis comprised 73.1 per cent of the visitors while UAE nationals were 13.1 per cent
Movie Review: Chennai Express
SRK unleashes all his charm and experience over the years into his character and comes up with a winning performance
Herbal medicines and cosmetics boxes seized in Dhofar
Shops dealing in such items should display prominently the licences issued by both the Ministry of Health and the Ministry of Commerce and Industry
His Majesty Sultan Qaboos in good health
The Diwan of Royal Court is honoured to reassure the loyal citizens of Oman that His Majesty Sultan Qaboos is in sound health after conducting medical tests
46 Comments
Oman mall shooting update: Scare at Ibri Lulu as youth opens fire
“He entered the mall, threatened onlookers, fired in air and walked out,"
8 Comments
Tender for Oman National Railway project this month
Global players with expertise in railway construction from Europe, China, South Korea, Turkey and India are pre-qualified for the prestigious 2,244-km-long Oman National Railway project
4 Comments
Largest ever Indian made warship inducted into navy
Stealth destroyer INS Kolkata is a part of the Kolkata Class destroyers of the Indian Navy, which will include follow-on ships by the names of INS Kochi and INS Chennai
3 Comments
Make in India, sell to world: Indian Prime Minister Narendra Modi
The prime minister speech focussed on creating jobs and attracting investment
3 Comments
Movie Review: Chennai Express
SRK unleashes all his charm and experience over the years into his character and comes up with a winning performance
3 Comments
Corporates in Oman positive on hiring plans
Companies in Oman will be looking for engineers, project managers, human resources professionals, sales manager, executive assistants and construction managers in the next three months
2 Comments
‘Nato to respond if Russian troops infiltrate Ukraine’
US Air Force General Philip Breedlove, Nato’s Supreme Allied Commander Europe, said Nato countries in eastern Europe needed to start preparing for a possible threat from “little green men”
2 Comments
Why airfares in Oman go SKY HIGH!
It is not just the universal market rule of demand and supply that causes airfares to escalate during peak season. Carriers which capitalise on rush months to boost revenues, too, play a major role
2 Comments
Oman Air shortlisted for two top travel industry awards
Oman Air has been shortlisted for two major UK travel trade awards — the TTG Travel Awards 2014 and the Travel Agents Choice Awards 2014
1 Comments
His Majesty Sultan Qaboos in good health
The Diwan of Royal Court is honoured to reassure the loyal citizens of Oman that His Majesty Sultan Qaboos is in sound health after conducting medical tests
46 Comments
Filipinos upbeat over Muscat-Manila air link
Philippine expatriates in Oman are happy about the news that Oman Air has got approval to fly direct to Manila, saying it would greatly improve the experience of passengers
1 Comments
Musical symphony fiesta at Royal Opera House Muscat
The upcoming season at the ROHM has an impressive line-up of singers and musicians. Christina Scheppelmann, Director General of the ROHM, talks about some of the must-see events
1 Comments
Musandam-Oman Sail set Round Britain and Ireland Race record
Musandam-Oman Sail have set a new world record for sailing round Britain and Ireland while taking line honours in the Sevenstar Round Britain and Ireland Race
1 Comments
Oman Air shortlisted for two top travel industry awards
Oman Air has been shortlisted for two major UK travel trade awards — the TTG Travel Awards 2014 and the Travel Agents Choice Awards 2014
1 Comments
Oman Sail’s The Wave, Oman Air gear up for Extreme Sailing Series Act 5 in Cardiff
The pressure building on The Wave, Muscat to close the gap at the top of series leaderboard has been welcomed by skipper Leigh McMillan and his crew, while Oman Air unveils one change in its team
1 Comments
Nigerian woman with Ebola like symptoms dies in transit phase at Abu Dhabi international airport
A 35-year-old Nigerian woman, who was travelling to India for treatment of cancer, died on Monday while in transit after showing symptoms similar to Ebola virus, the UAE health officials said
1 Comments
Football: I deserved more time at Manchester United — Moyes
Moyes was sacked by United in April after just 10 months in the role. His successor, Louis van Gaal, took charge of his first Premier League game Saturday, when United lost 2-1 at home to Swansea City
1 Comments
Saradha scam: West Bengal Textile minister, Aparna Sen questioned
West Bengal Textiles minister Shyamapada Mukherjee and actor Aparna Sen were on Monday questioned by the Enforcement Directorate (ED) in connection with its money laundering probe
1 Comments
India’s Defence Minister Arun Jaitley visits forward posts at Indo-Pak border
Defence Minister Arun Jaitley also motivated the troops and announced incentives for those deployed on the forward posts,
1 Comments




LATEST IN TIMES