[Oman-l] Oman Business News

[BaaboodA@aol.com]

Here us some Oman business News for those interested!

Qaboos inaugurates USD2.5bn LNG plant
October 15th, 2000 
Sultan Qaboos formerly inaugurated the USD2.5bn LNG plant at Qalhat in Oman. 
The facility began exporting LNG in April, and exports of LNG represent a 
major new source of income for the Sultanate.


Oman's GDP jumps 34 per cent
October 15th, 2000 
Oman's economic ministry posted statistics showing a 34 per cent surge in GDP 
to RO3.6bn in the first half of the year. Non-oil activity grew by 5.3 per 
cent, but the spectacular performance was mainly down to oil exports.


Oman's USD410m pipelines 
October 16th, 2000 
Two massive natural gas pipeline projects in Oman are close to arranging a 
total of USD410m in funding from local and international banks, said the Oman 
Times. The 700km and 300km pipelines are part of the expansion of LNG 
facilities.


Oman bans more expat jobs
October 17th, 2000 
Oman is to stop expatriates from selling audio and video tapes as a part of 
its Omanisation program to create jobs for its own nationals. 


Oman to privatise Sohar port
October 18th, 2000 
Oman is to invite bids for the privatisation of Sohar port before the port is 
completed, a transport official told Reuters yesterday. The port will be 
finished in mid-2002, and receive its first ship in July next year.


Oman issue oversubscribed
October 23rd, 2000 
Oman International Bank said a USD39m issue of deposit certificates was 
oversubscribed on the first day of issue.

Oman revenues up 35 per cent
October 29th, 2000 
Oman reported a 35 per cent hike in Government revenues to 1.3bn rials in the 
first eight months of 2000, thanks mainly to a 67 per cent jump in oil 
revenues to 1bn rials. LNG netted just 33m rials but will rise sharply this 
year.

Oman wants more private power
October 29th, 2000 
Oman electricity minister Mohammed bin Ali Al Qetabi told a local paper that 
the Sultanate was undertaking a comprehensive review of the power sector to 
involve more private funding. The 400MW Barka station contract will be 
awarded next month.

USD426m Oman methanol deal
October 24th, 2000 
Oman Oil has signed a joint venture with Germany's Ferrostaal and local 
Omzest to build a USD426m methanol plant, officials told Reuters. Production 
of 5,000 tonnes per day will start in 2005. 


Oman de-lists seven companies
October 29th, 2000 
The Muscat Securities Market has de-listed seven companies which have lost 
more than 75 per cent of their capital. Reuters said the firms are Al Rawdha 
Quarries, Dhofar Marble, Al Salan Food, Oman Filters, Sweets of Oman, Majan 
Glass and Tamoor Oman.


National Bank of Oman lower
November 5th, 2000 
National Bank of Oman posted a 22 per cent fall in profits to USD31m in the 
first nine months of 2000. Chairman Khalfan Al Wohaibi blamed the stock 
market slump and economic slowdown.

Businesswoman wins top Oman prize
November 7th, 2000 
A 26-year old businesswoman, Hind Bahwan, won the Oman Young Entrepreneur of 
the Year Award on Sunday night for her work with Bahwan Tours and Bahwan 
Cyber Trek. 


Alvis wins 80 vehicle Oman order
November 8th, 2000 
Alvis Vehicles inked a multi-million dollar deal to supply 80 Piranha 8x8 
armoured vehicles to the Oman ministry of defence. The new vehicles will be 
delivered in 2001 and 2002, and the existing fleet of 60 will be overhauled 
as part of the contract.

Oman United 11 per cent better
November 9th, 2000 
United Power of Oman increased profits by 11 per cent to USD16.3m in the 
first nine months of 2000, with total revenues up from USD14.8m to USD16.2m. 
Operating costs moved ahead slightly from USD1.4m to USD1.6m. 

Siemens upgrades Oman GSM
November 9th, 2000 
Siemens has unveiled its 4m riyal Smart Network in Oman which is part of the 
modernisation of the GSM and traditional telephone networks. Smart cards will 
be issued in 30, 10 and five rial denominations and also offer pre-paid 
Internet access.