Business


Business news briefs as on Jan. 28



Chief of Shell Oman Marketing moves to Hague in new role
Muscat:
The board of directors of Shell Oman Marketing Company yesterday said that John Blascos, chairman of Shell Oman Marketing, has taken on a new role of vice-president in the Shell group at The Hague, and has therefore resigned from the board with effect from yesterday. As a result, the board appointed Chris Breeze as non-executive chairman of the company, said a company disclosure statement posted on MSM website. Breeze became Shell country chairman in Oman in January, 2014. Prior to that he worked in Shell's Government Relations Department as senior adviser for Middle East and North Africa, providing political and government relations advice to Shell's businesses in the region as well as coordination of the Shell Country Chairmen in Mena region.  

ahlibank executive resigns
Muscat:
  Hamad Abdulmohsen H. D. Al Marzouq, a board member and first deputy chairman of ahlibank, has resigned from his position citing personal reasons with effect from January 28. The board will appoint a new director in its meeting.

Maruti net profit misses estimates
New Delhi: Maruti Suzuki India, the nation's biggest carmaker by volume, reported third-quarter profit that missed analyst estimates as higher discounts on some models eroded gains from a weak yen. Shares fell. Net income at Suzuki Motor's Indian unit rose 36 per cent to Rs6.81 billion ($108 million) in the three months ended December. That missed the Rs6.94 billion median of 39 analysts.

Royal Philips posts higher profit
Amsterdam:
Royal Philips, the world's largest lighting company, reported fourth-quarter profit that beat analyst estimates as it cut costs and benefited from improved demand for appliances in emerging markets. Earnings before interest, taxes, amortisation and one-time items rose 20 per cent to €915 million ($1.3 billion), it said in a statement. That compares to an €874 million average estimate of analysts.

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