Oman Observer - Business

Oman plans to offer 11 new hydrocarbon concessions this year

By Conrad Prabhu
MUSCAT — The Ministry of Oil and Gas plans to invite bids for a total of 11 new hydrocarbon concessions during 2010 in one of the largest ever offerings announced by the government to date. Up for grabs is a mix of oil and gas blocks, some located onshore and the others offshore. The unprecedented number of new concessions on offer is seen as underscoring continued

‘Made in Oman’ LCD TV launched

By A Staff Reporter
MUSCAT — Omanis can now look forward with pride to their very own ‘Made In Oman’ TVs, which are manufactured for the first time in Oman by the Omani-Korean Company LLC. Omani-Korean Company as the name suggests, is a joint venture between the Omani and Korean partners with majority share holding with the Omani partners. It all began with the vision of its

LONDON — The euro held near a nine-month low against the dollar yesterday, with all signs that euro zone policymakers will focus on making Greece fully implement budget cuts rather than gifting it swift financial aid. Athens' relative cost of borrowing rose again ahead of a finance ministers meeting which markets now see offering little hope of a quick fix to a crisis that has

TOKYO — Japan narrowly retained its title as the world’s number two economy in 2009 ahead of China, extending a recovery from a brutal recession with a robust fourth-quarter performance, data showed yesterday. But surging China came close to unseating its neighbour from the position it has held for more than 40 years, after the Japanese economy contracted at the

Bharti bids for Zain’s Africa assets

NEW DELHI — Indian mobile phone giant Bharti announced yesterday an offer to buy the African assets of Kuwait’s Zain telecom for $10.7 billion as it aims to enter one of the world’s most fertile markets. Bharti Airtel and Zain Africa “have agreed to enter into exclusive discussions until March 25, 2010 for the acquisition of Zain’s African unit based on an enterprise value of

Saudi gets sovereign upgrade from Moody’s

RIYADH — Rating agency Moody’s yesterday upgraded Saudi Arabia to its second-highest level as oil earnings and a recovering economy push the government’s budget back into the black this year. Moody’s Investors Service hiked Saudi government foreign and local currency debt to Aa3 from the previous rating of A1 even as Riyadh powers ahead with its