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BankMuscat to set up Islamic banking window |
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The board of directors of BankMuscat has decided to set up an
independent Islamic banking window at the bank and launch
Islamic banking operations in accordance with the injunctions of
Sharia, subject to approval from the Central Bank of Oman. In
the run-up to comply with the CBO requirements, the bank
unveiled the logo of its Islamic banking window under the brand
name ‘Meethaq’ at the Oman Islamic Economic Forum recently.
The bank’s Islamic banking operations will be segregated from
its conventional counterpart in all aspects. Further, in line
with CBO requirements, the bank announced the formation of a
three-member Shariah board to ensure the Meethaq operations are
in compliance with Sharia. The BankMuscat Sharia board members
are Sheikh Dr Ali Qaradaghi, Chairman, Sheikh Essam Muhammad
Ishaq and Sheikh Majid Al Kindi. |
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Shell enters into
agreement with OOT |
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Shell Oman Marketing Company signed a ten-year agreement with
Oiltanking Odfjell Terminals & Co (OOT) based at Sohar
Industrial Port to receive and store lubricant raw materials
known as base oils for Shell’s Mina Al Fahal lubricants blending
plant. The agreement was signed at the OOT’s office at Sohar by
Shell Oman Marketing’s managing director Adil Bin Ismail Al
Raisi and Zeger Van Asch Van Wijck, CEO of OOT. Shell Oman
lubricant blending plan is a state-of-the-art, ISO 9001:2008
certified plant currently producing over 60 million litres of
different types and grades of lubricants for various uses
ranging from consumer cars to aviation, marine and industrial
products. The plant produces various products for local market
and 70 per cent is exported to over 22 countries. |
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Ernst & Young to honour
entrepreneurs |
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Ernst & Young launched the ‘Entrepreneur
Of the Year 2012’ awards in Oman, aimed at celebrating
individuals who build and lead successful, growing and dynamic
businesses. The event has been running globally for 23 years and
is held in 135 cities across 50 countries worldwide. Rajeev
Singh, partner and entrepreneur Of The Year Leader at Ernst &
Young, Muscat says, “I’m delighted that this year the
Entrepreneur Of The Year programme will be running as a country
programme in Oman for the first time. Globally, every year the
Ernst & Young Entrepreneur Of The Year award gives entrepreneurs
the recognition they deserve. Even in the most challenging
times, these business pioneers are looking for opportunity and
continue to proactively take calculated risks to grow. This is a
trait that we celebrate and a value that we espouse.” |
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HM’s e-Governance award presented |
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The Sultan Qaboos Award for Excellence in e-Governance 2011 was
presented at a function held at the Grand Hall of Sultan Qaboos
University Cultural Centre recently.
The award ceremony was held under the auspices of HH Sayyid
Shihab bin Tariq Al Said in the presence of HE Ali Bin Masoud Al
Sunaidy, Chairman of ITA, ITA board members, Dr Salim Sultan Al
Ruzaiqi, CEO of ITA and senior officials and representatives
from participating government institutions. Former US president
Bill Clinton participated in the awards ceremony. The best
eContent award was won by the Ministry of Manpower Portal, while
the Muscat Municipality won the best eReadiness award. In the
category for the best eProject (individual), the award was won
by the Oman Education Portal: Ministry of Education, while the
award for best eProject (collaborative) was awarded to
Employment Collaboration Project: Ministry of Manpower. |
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Haya Water recruits 100
new Omanis |
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Responding promptly to the Royal Decree from His Majesty
for the creation of 50,000 new jobs for Omani nationals,
Haya Water has announced the creation of 100 new jobs
for Omanis. The company is now providing talented and
enthusiastic young Omanis with the opportunity to
develop and pursue rewarding, challenging and
stimulating long-term careers with one of the nation’s
most dynamic and fastest growing business organisations.
They will now have the opportunity to help Haya Water in
their development of its world-class water reuse project
in the Muscat Governorate that will ensure significant
long term health and environmental benefits to
individuals, businesses and society at large. |
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Ahlibank lays
foundation stone for head office |
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Ahlibank laid the foundation stone of its new head
office in Wattayah recently. HE Yahya bin Said bin
Abdullah Al Jabry, chairman of Duqm Special Economic
zone, was the chief guest of the official ceremony which
was also attended by high-ranking officials from Central
Bank of Oman and Capital Market Authority as well as the
Chairman of ahlibank, Hamdan Al Hinai along with other
members of the board of directors and senior management
of the bank. The new office which is expected to be
completed and fully functional by June 2013 will have a
built-up area of 6500 sq mtrs on a prime property of of
10700 sq mtrs.
Says Abdul Aziz Al Balushi, CEO, ahlibank “ahlibank’s
growth strategy in Oman hinges on three pillars: people,
technology and infrastructure.” |
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The Wave opens new golf
course |
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The Wave, Muscat opened its new golf course, Almouj Golf,
recently. The first nine holes of the golf course have been
greened and are now ready to cater to its first players. Almouj
is home to a 7,300-yard links style championship course that was
designed by golfing legend Greg Norman. Says St John Kelliher,
general manager of Almouj Golf, “Our story begins with the
inspiration behind the brand which blends the elements that we
believe will keep visitors mesmerised: the sport of golf and the
heritage, culture and landscape of Oman.” Michael Lenarduzzi,
CEO of The Wave, Muscat, said that he hoped that the new golf
facilities would soon be able to cater to young, talented,
home-grown golf champions keeping with The Wave, Muscat’s
tradition of offering a multitude of residential, recreational
and social facilities to its clients. |
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ITA’s Talal elected deputy
chairman of UNESCO institute |
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Talal Al Rahbi, deputy CEO of the Information Technology
Authority (ITA), has been elected as the first deputy chairman
of the UNESCO Institute for Statistics. He replaces Sheikh Hamad
bin Jabor Al-Khalifa of Qatar in a meeting held recently at the
Institute’s headquarters in Montreal, Canada. Talal Al Rahbi was
elected as a member of the Board of Directors of the institute
in 2009. Holding this high office at an international
organisation is a unique honour for Oman. The efforts made by
the Sultanate have gained attention as well recognition by the
UNESCO Institute for Statistics and other UN organisations.
UNESCO Institute for Statistics was created in 1999, in response
to the growing need for reliable data contribute to the
development of policies and plans of UNESCO, and its member
states. |
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ALARGAN unveils Qurm Hills |
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ALARGAN International Real Estate Company, a Kuwait based
developer, unveiled its latest project in the Sultanate, Qurm
Hills at a ceremony attended by Minister of State and Governor
of Muscat, HE Sayyid Saud bin Hilal al Busaidi, as chief guest,
and Kuwaiti Ambassador to the Sultanate. The project, comprising
109 plots, including road networks, service facilities and
landscaped park areas includes a variety of residential units in
addition to retail, commercial and office space. Khaled Al-Mashaan,
chairman and managing director of ALARGAN International, says:
“We are pleased to announce the launch of Qurm Hills, a project
which we have meticulously planned to create a new concept in
the area which will offer excellent investment opportunities.”
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Times of Oman wins Arab
League award |
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Sheikh Hamdan bin Mohammed bin Rashid Al Maktoum, the crown
prince of Dubai, presented the Times of Oman with an award for
quality and excellence at a ceremony in Dubai, recently. The
Tatweej Academy for Excellence and Quality, which is part of the
Arab League’s Organisation for Administrative Development,
acknowledged leading companies and leaders from across the Arab
world. Times of Oman’s chairman and editor-in-chief, Essa
Mohammed Al Zadjali, said the awards are an incentive to work
even harder. “This kind of award gives a sense of support. It’s
a boost to work more,” Al Zadjali says after the prince gave him
the gold medallion. Al Zadjali adds he plans on improving the
paper year after year, and wants to expand its operations
regionally. The Tatweej awards are also a sign of international
recognition for the Times of Oman and the Sultanate in general,
says Al Zadjali.
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Milcon Gulf teams up with Al Barij International |
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Milcon Gulf Group and Al Barij International have formed a
strategic partnership to launch a series of new ventures in the
rapidly growing Middle East and Asia Pacific markets. The groups
shall leverage their existing expertise in the areas of energy
efficiency, surveillance, information technology, aviation, and
related services to set up strategic ventures in order to cater
to the rapidly growing GCC market on an opportunistic basis. The
companies also identified a number of areas where they would
jointly cooperate on partnering or acquiring stakes in companies
that would suit the demand coming from active markets where
demand exists.
“With Milcon Group we feel we have found a well-suited strategic
partner who is involved in a variety of sectors and industries,
much like ourselves and we look forward to developing our many
synergies and exploiting gaps in Mena and Asia Pacific markets,”
says Mukhtar M Hasan, chairman of Al Barij International. |
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QUICK LOOKS |
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NLP workshop in
February |
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An NLP practitioner
certification workshop will be held in Muscat from
February 25 to 29. The workshop will be conducted by
Nandan Savnal, reputed trainer and pioneer in the
field of NLP in India, who also heads a full-fledged
training and consultancy firm PeopleSys. NLP offers
powerful and rapid methods for personal growth and
achievement and influence. It is the science of how
people do things, why they do certain things, how
they think, behave and process information. |
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MHD awarded ISO 27001 |
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Mohsin Haider Darwish has been awarded the
prestigious International Organisation for
Standardisation (ISO 27001) certification for
Information Security Management, covering the IT
infrastructure, data centre and all departments
operating from its group corporate office in Ruwi.
The ISO/IEC 27001 accreditation is the only
auditable international benchmark for information
security management. |
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UAB ‘Bank of the Year 2011 UAE’ |
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United Arab Bank (UAB) has received ‘The Bank of The
Year 2011 UAE’ award from the Financial Times Banker
Magazine. This follows the earlier receipt of the
same accolade from the Global Banking & Finance
Review, London. Regarded as the industry standard
for banking excellence, a Financial Times
independent panel of judges evaluated banks
worldwide based on their ability to deliver
shareholder returns and on a number of other
criteria including transparency, corporate
governance, sustainability, innovation, and customer
service. |
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Hamad Al Wahaibi finishes fourth in DIR |
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Oman’s Hamed Al-Wahaibi and Ulster co-driver Allan
Harryman finished an excellent fourth overall in the
33rd Dubai International Rally, the final round of
the 2011 FIA Middle East Rally Championship (MERC),
recently. At the wheel of the Wahaibi Motor Sport (WMS),
the Omani was never able to match the powerful S2000
cars over the fast, desert stages on day two but had
the consolation of finishing as the top Group N
runner in fourth overall. |
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Oman Air launches flights to Zurich |
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Oman Air started its new service between Muscat and
Zurich, in Switzerland recently. Oman Air offers
four flights a week between the two destinations.
Zurich is Oman Air’s 41st worldwide destination and
its sixth in Europe. The new service will also offer
Swiss travellers the opportunity to experience Oman
Air’s luxurious new fleet of Airbus A330 wide body
aircraft. |
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OMRAN’s Anti-Littering campaign in Jabal Al Akhdar |
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Two hundred volunteers joined hands with Omran to
launch an ‘Anti-Littering Campaign’ in Jabal Al
Akhdar to instill environmentally-conscious
behaviours amongst community members and tourists in
one of Oman’s most naturally beautiful and prized
orchard destinations. The campaign was organised in
partnership with Nizwa Municipality and various
Community Civil Associations including The Omani
Women’s Association and the Mountain Youth Group. |
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Emirates NBD launches Arabic domain name |
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On the occasion of the 40th anniversary of the
United Arab Emirates, Emirates NBD, became one of
the first corporate organisations and the first bank
in the UAE to launch an Arabic website with an
Arabic language domain name. The new website will
serve as a portal to the bank’s complete range of
services. |
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Teejan awarded ISO 14001 |
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Teejan Trading and Contracting has been awarded the
internationally recognised ISO 14001 certificate of
compliance for its environmental management system
(EMS), making it one of the first companies in Oman
to achieve this recognition. Teejan received its
certificate at an exclusive ceremony recently at the
City Seasons Hotel. |
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TRA’s directors discuss strategic plans |
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The board of directors of the Telecommunications
Regulatory Authority (TRA) held their fourth meeting
recently at the headquarters of the authority
recently. HE Dr Mohammed bin Hamed Al Rumhi,
Minister of Oil and Gas and board chairman of TRA
presided over the meeting which was attended by the
board of directors and the CEO of the TRA. The
meeting reviewed the authority’s strategic work plan
and the executive plan for 2012 which included the
most important strategies to be implemented during
the year such as a study for reframing frequency
bands to ensure expansion in the provision of 3G
services. |
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Oman ranked 32nd in competitiveness index |
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Oman’s stable economic performance has seen it
ranked as the world’s 32nd most competitive country
in the 2011/12 World Economic Forum’s Global
Competitiveness Index (GCI). This ranking, a rise of
two places on 2010/11, places it above the emerging
economies of Brazil, Russia and India and European
Union member states Spain, Poland, Italy and
Slovenia. The ranking reflects that the institutions
and policies in place in the Sultanate are
constantly working to maintain and improve the
business environment in the country.
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BankMuscat among 50 safest banks |
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BankMuscat has achieved a remarkable ranking among
the 50 safest banks in emerging markets. BankMuscat
is the only bank from Oman to make it to the
first-ever ranking of the 50 Safest Banks in
Emerging Markets by Global Finance. The criteria
applied for the 50 safest banks in emerging markets
were the same as applied to the annual world’s
safest banks ranking. |
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Al Naba extends civic services as CSR |
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Al Naba Services, undertook a major clean-up of
roads left ruined by flash floods in the Wilayat of
Sur in December 2011. The gesture, part of the
company’s Corporate Social Responsibility (CSR)
strategy, demonstrates its longstanding commitment
to supporting the well-being of communities in which
it operates. In the wake of heavy rains that
rendered many streets impassable, teams of volunteer
staff went into action across the wilayat to help
get traffic moving again. |
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Top^
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May- 2012 |
|
Cover Story |
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EXHIBITING EXEMPLARY LEADERSHIP
OER presents its annual Oman’s Top 20 leading listed
companies for the year 2011... |
| Editorial |
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| |
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Other Headlines |
MITSUBISHI ASX NAMED “TOP SAFETY PICK”
Mitsubishi Oman has
announced that its 2012 ASX was named a “Top Safety Pick” by the United
States’ Insurance Institute for Highway Safety.... |
Simply grand
The Centennial is a loaded top-end
luxury sedan offering value for money, writes Visvas Paul D Karra after
an extensive test-drive... |
Nawras teams up with Grand Hyatt Muscat
Nawras has partnered with Grand Hyatt Muscat Hotel to add a
new dimension of privileges to Elite Club members... |
Connecting the dots
The book under review is a well researched account of one of
the greatest visionaries to have ever walked this earth and
it does adequate justice to... |
Call for harmonised
national ICT policies
Samena Telecommunications Council’s
“Beyond Connectivity 2012” conference brought together leading
telecommunications experts and decision makers in the region... |
The road ahead in ICT
Although GCC countries are showing growing appreciation for
ICT, they still need to overcome some critical shortages.... |
Thriving on CHALLENGES
Within a short span of 18 years, Al Jassar Group has established itself
as a fast growing multi divisional firm with strong presence in trading,
manufacturing, real estate, contracting... |
A befitting recognition
As the countdown to the BizPro Awards
2012, to be held on May 20, 2012, gets underway OER catches up with a
couple of winners of... |
Recycle and reuse
In the run-up to its third edition to be
held on June 5, Oman Green Awards has teamed up with Oman Marketing &
Services Co... |
Hyundai-Genesis Prada
partners AIWA Awards
The stage is all set for the 2012 edition of AIWA Awards for Best
Performing Companies. The nominees have been finalised after an... |
Integrated efforts required for building national
talent
Oman Forum – Building National Talent
witnessed two heated and thought-provoking panel discussions on
education and training.... |
Samy Ahmed Al Ghassany and Talal Said Al Mamari
Omantel has appointed Samy Ahmed Al
Ghassany as chief operating officer (COO) and Talal Said Al Mamari as
chief financial officer (CFO.... |
Trendsetter
Oman UAE Exchange continues to pioneer new
services and products and has grown from strength to strength over the
last 17 years.... |
Liquid Glow smartphones
The new Acer Liquid Glow line up, which is
due for release early this summer, will come equipped with NFC
technology, to allow instant... |
Youngest golfer
Guan Tian-lang, the junior world champion
from China, became the youngest player in European Tour history when he
teed off in the Volvo China Open... |
Agility is the key
Dr Amer Awadh Al Rawas, CEO, Oman
Telecommunications Company underscores the reasons for the company’s
enduring success on the OER Top 20 ... |
Spurring SME growth
A new SME Development Fund with a capital
of RO100mn will be launched next month in a bid to develop and further
promote the small and medium... |
Tax on overseas dividends
According to a recent Supreme Court
judgment, dividends obtained by a company in respect of its shareholding
in another company will not be taxable... |
Superb timekeeping
The watches in the OMEGA Constellation
line are among the world’s most popular and instantly recognisable
timepieces.... |
Optimistic outlook for Oman’s Construction sector
Prospects are bright for the Omani
residential as well as commercial office construction market on the back
of increasing population and rising... |
Air-conditioner and refrigerator market
The importance and size of the global
commercial air conditioning (CAC) market has grown to prominence in
recent years, gradually evading the shadow ... |
Samsung introduces Crystal cooling
Samsung’s Crystal air-conditioner series
features a multi-step filter which dramatically improves air quality to
protect health... |
Samsung Electronics, named as the world’s most
sustainable technology company
Samsung Electronics Co, a global leader in
digital media and digital convergence technologies, recently launched... |
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