Finance Muscat-listed Ominvest secures $500m to fuel growth By Pramod Kumar January 8, 2025, 10:33 AM Ominvest Ominvest’s total assets are valued at $3.5 billion Oman International Development and Investment Company (Ominvest) has secured a $500 million loan for expansion and investment opportunities in the Sultanate and the wider region. The financing deal, arranged by Gulf International Bank (GIB), ABK, and Gulf Bank, will allow the Muscat-listed company to pursue “impactful investments and generate substantial value for the company and the economies it supports”. “This long-term relationship provides us with the financial firepower to accelerate our strategic initiatives, capitalise on emerging opportunities, and contribute to the realisation of Oman Vision 2040,” said Abdulaziz Al Balushi, group CEO of Ominvest. Oman targets $1.9bn to plug 2025 budget deficit Oman-Korea venture strikes green ammonia deal with Thailand Oman imposes 15% tax on multinationals Ominvest achieved a 17 percent compounded annual growth rate in net income since 2001. The company’s portfolio includes high-quality assets across diverse sectors, with total assets valued at $3.5 billion.
Mining Ma’aden signs $1bn contracts to develop industrial cities Saudi mineral giant Ma’aden has signed three contracts worth a combined $922 million with foreign companies to develop a third phosphate fertiliser project. The majority state-owned Saudi mining company announced the agreements in a note to the Saudi bourse on Thursday, coinciding with the final day of the Future Minerals Forum in Riyadh. Ma’aden is […] 3 hours ago
Transport Tenders issued for high speed Abu Dhabi-Dubai rail link Tenders have been issued for the design and construction of central components in a high-speed rail link between Abu Dhabi and Dubai. Etihad Rail, the national rail company of the UAE, has sent out tenders for designing and constructing civil works and station packages for the line connecting the two cities as part of the […] 4 hours ago
EXCLUSIVE Aviation Wizz Air increases flights from UAE to Israel after ceasefire The budget carrier Wizz Air is increasing the number of flights between Abu Dhabi and Tel Aviv after the ceasefire agreement between Israel and Hamas. The airline had previously scaled back its Tel Aviv-Abu Dhabi service to four flights a week because of the conflict, down from its pre-crisis schedule of two flights a day. […] 5 hours ago
Construction Dubai Multi Commodities Centre announces “Crypto Tower” Dubai Multi Commodities Centre (DMCC) and software company Reit Development have announced plans to build a 17-storey “Crypto Tower” that they say will demonstrate the use of blockchain technology. Blockchain will be used for tenant interactions and transactions through the use of on-chain voting mechanisms, shared resources, smart contracts and other automated services. The 150,000 sq […] 5 hours ago
