Business news briefs [Times of Oman]
(Times of Oman Via Acquire Media NewsEdge) Alpen Capital arranges financing for Topaz MarineMuscat: Alpen Capital Oman has successfully arranged a $125 million Islamic Vessel Finance (Ijarah / Istisna) facility for Nico Middle East Ltd (NMEL), a 100 per cent subsidiary of Renaissance Services, Oman. Nico Middle East Ltd (NMEL) is one of the world's leading oil field services companies, providing offshore support vessels to large multi-national oil companies and other major offshore projects in the Mena and Caspian regions. The Company operates under the brand name Topaz Marine. Renaissance Services is an Omani multinational company listed on the Muscat Securities Market in the Sultanate of Oman, with a market capitalisation of over $480 million. The company has operations in over 16 countries and is a well-recognised brand and acknowledged leader offering diverse services in three main lines of operations including marine offshore; engineering; and contract services (catering, facilities management, and maintenance services).GIC board approves to set up joint venture companyMuscat: Gulf International Chemicals (GIC) said that the company's board of directors approved the establishment of a joint venture company with European partnership. The company is to be established in Oman as limited liability company offering highways and roads specialised services, building insulation and specialised engineering services, the company said in a disclosure statement on MSM. This is in line with company's business development and diversification strategy. The new joint venture company is expected to start operating within six months and It is expected that this joint venture will add additional income to the company in the long term.
The Real Estate Show 2013 to open next WednesdayMuscat: The Real Estate Show 2013 will open next Wednesday at Oman International Exhibition Centre (OIEC). The show is organised by Al Mamlaka for Organising Exhibitions (MOE) and lasts for three days. Many local and foreign specialised companies in real estate and investment within and outside the Sultanate will take part in the show. Ridha al-Sayid, Marketing Director at MOE said that the show aims to provide participants with the opportunity to showcase their best products and services in the field of real estate and investment projects in Oman and Kuwait, Turkey, Italy, the Philippines and India, as well as their achievements made during the past years, their future plans to provide better offers and services for customers in the markets of Oman and the GCC states. He added that the show provides an opportunity for businesspersons from the Arab and foreign countries to get together and strike deals, building up new partnerships, exchanging experiences between participating companies and attracting new partners in the Sultanate and Gulf markets. Central Bank of Oman issues tenders worth OMR215m Muscat: Certificates of deposit tender was held at the Central Bank of Oman (CBO) this week. The total amount allotted for issue No. 832 was OMR215 million. A bulletin issued by the CBO stated that the average interest rate of these certificates was 0.13 per cent whilst the maximum accepted interest rate was 0.13 per cent. The tenor of these certificates is 28 days, so their maturity date is on October 2. The certificates of deposit issued to licensed banks by the CBO as a monetary policy instrument aimed at absorbing excess liquidity at the banking sector in particular and maintaining stability of the interest rate and the money market in general.MSM to host workshopMuscat: Muscat Securities Market (MSM) will organise at Oman Chamber of Commerce and Industry (OCCI), Dhofar branch during September 16-18 a short course to media men on "Rules of Writing for Securities Market Journalism". The three-day course will cover a number of topics, including sources of information on securities markets, types of information about securities markets and how to deal with it, the elements and steps of drafting reports and articles, types of these reports. Dr Salah al-Talib, expert at Muscat Securities Market will be lecturing in the short course. Twenty media men from various media institutions will participate in the short course, which will highlight the requirements that the media men should provide when drafting reports, including the knowledge of terminology used in the securities markets, avoiding rumours and the knowledge of their impact on writing about stock markets.
Sezad to launch campaignMuscat: The Special Economic Zone Authority at Duqm (SEZAD) will organise the "Duqm Calls" promotional campaign in Singapore during September 9 and 10, 2013 with participation of a number of operating and investing companies and entities at the Sezad. The Sultanate's delegation will be headed by Yahya bin Said bin Abdullah al-Jabri, Chairman of Sezad Board and the membership of a number of officials from Sezad, the Ministry of Agriculture and Fisheries, the Paiped, Oman Drydock Company, Duqm Port Company (DPC), Oman Tourism Development Company (Omran), Oman Oil Company (OOC) and Takamul.
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