Omani pair ready for Abu Dhabi Desert Challenge

The Abu Dhabi Desert Challenge, one of the region's most important motorsport events, is all set to bring pride for GCC countries. Two Omani rally stars Nizar al Shanfari and Ahmed al Hajri will bring the event at culmination, at a challenging and stunning terrain in the Middle East.

Mohammed ben Sulayem, the Federation International de l'Automobile (FIA) vice-president for sport and chairman of the Desert Challenge organizing committee told, "The Abu Dhabi Desert Challenge is one of our region's most important motorsport events and we want our fellow GCC countries to be as proud of it as we are in the UAE."

Oman, India, collaborate to have joint investment fund

S-M-KrishnaTo step-up two-way investment, India and Oman are going to collaborate in using a joint investment fund of 100 million dollars.

Indian External Affairs Minister, SM Krishna, after discussions with the visiting Oman Foreign Minister Yousuf Bin Alawi bin Abdullah, on regional and bilateral issues said that for the benefit of the people, they aim to channelize further investments in both economies through the joint investment fund.

JSPL set to buy Oman firm for $464 million

JSPL set to buy Oman firm for $464 millionOn Thursday, Jindal Steel & Power Ltd. (JSPL) said that it is planning to buy one of Oman's company for $464 million. The name of the firm is Shadeed Iron & Steel Co LLC.

JSPL is doing this so that it can expand its foothold in the Middle East, so that the profitability of the company rises.

As part of the deal, the liabilities of the Oman-based company which are worth $79 million will be financed. This will be done by raising $400 million debt. The rest of the money i. e. $64 million will be raised through equity.

Oman all set to buy Eurofighter planes from BAE Systems

TyphoonMiddle Eastern country Oman is reportedly all set to buy Eurofighter aircraft named "Typhoon" from UK based BAE Systems. The spokesman of the Prime Minister said today that Oman had indicated an intention to purchase the jets. Though he did not provide the exact numbers of aircrafts, it is assumed that Oman is interested in 24 such aircrafts.

BAE Systems, a British defense giant, is expected to win the contract for the Eurofighter aircrafts. BAE Systems manufactures the Eurofighter aircrafts with European partners. The contract is expected to be worth £1.4 billion.

Ex- Eastern Bridge: IAF pilots fly unhindered over Oman sky

Ex- Eastern Bridge: IAF pilots fly unhindered over Oman skyThumrait (Oman) Oct 25 : The Indian Air Force (IAF) pilots who are participating in the joint air force exercise “Eastern Bridge” with Royal Air Force of Oman (RAFO) here completed their local familiarization sorties on Sunday ahead of the tactical part of the air exercise.

The 16 IAF pilots of ‘Flaming Arrows’ and ‘Cobras’ the two Jaguar Squadrons, based in Gorkhpur Air Force Base are far removed from Poor visibility, birds, obstructions and other restrictions usually making fkying pretty easy.

Exercise Eastern Bridge with Oman Air Force begins

Exercise Eastern Bridge with Oman Air Force beginsThumrait (Oman), Oct 23 : In order to extend the hand of friendship and to share their experience with various air forces of the world, the Indian Air Force bilateral exercise with Royal Air Force of Oman (RAFO) commenced today in Thurmait.

Six IAF Jaguars in two formations of three aircraft each arrived over the sprawling RAFO airbase on Thursday afternoon, heralding the start of the weeklong joint air exercise between the two air forces.

Petrofac wins $350m contract

Petrofac wins $350m contract Petrofac, the international oil and gas facilities service provider, has announcd that it has won a contract worth $350 million (Dh1.2 billion) for the Kauther gas-field depletion-compression project.

The contract has been placed on behalf of the Oman Government by Petroleum Development Oman (PDO), which has been developing the Sultanate's gas fields on behalf of the government since 1978.

Ban on import of poultry products from India lifted by the Sultanate of Oman

Ban on import of poultry products from India lifted by the Sultanate of OmanThe Omani Ministry of Agriculture banned import of live bird products from India last year after reports of the outbreak of avian flu in some parts of the North Eastern region. The ban has been lifted now.

Nucleus Software gets new contract from Oman-based UFC; stock jumps 14%

Nucleus Software gets new contract from Oman-based UFC; stock jumps 14%Noida-based Nucleus Software Exports Ltd has further strengthened its six-year long relationship with United Finance Company SAOG (UFC), the largest finance company of Oman.

Under the latest contract, Nucleus' FinnOne will now power UFC with its Lead Management System and Customer Service Module. The facility is schedule to implement across 7 branches across the company.

Nucleus Software Exports Ltd., together with its subsidiaries, offers various software solutions for banking and financial services sector.

BHEL Wins Rs 375 Crore Project From Oman

BHEL Wins Rs 375 Crore Project From OmanState-owned power equipment maker Bharat Heavy Electricals Ltd (BHEL) has bagged an order worth Rs 375 crore for executing two gas turbine generating units for a project in Oman.

In a statement, the company said, “BHEL has won an export order for two gas turbine generating units of 126 MW each from Oman.”

The scope of the order includes supply, erection and commissioning of two gas turbine generating units of 126 MW each.  

PetroTel and Oman sign oil agreement

PetroTel and Oman sign oil agreementUnited States Energy Major PetroTel has revealed that it has clinched a three-year exploration and production sharing agreement with the Sultanate of Oman.

Under the pact, the Texas-based company will be developing Block 17 in the north of the state.

This is the fourth arrangement which the non-Opec producer has inked with foreign companies in order to develop and explore for oil and gas as it seeks to boost production.

Other conglomerates that have signed production-agreements this fiscal include Canada's Epsilon Energy and Malaysia's Petronas..

Oman inks Switch network deal

ACI's BASE24-eps technology The Central Bank of Oman has announced that it has clinched an agreement with Industrial Management Technology & Contracting (IMTAC).

According to sources, the bank has signed this arrangement for the implementation and commissioning of an integrated National ATM/POS Switch Network.

The sources further added that the scope of the pact with IMTAC is to replace and unify the current Oman-Switch Network with a high-tech switch network based on world-class ACI's BASE24-eps technology and on Hewlett-Packard's Integrity Non-stop infrastructure.

L&T Oman Unit Pockets Rs 518.2 Cr Orders

Larsen & ToubroLarsen & Toubro, India's largest maker of equipment for the nuclear power sector, has announced that its Oman unit has bagged three orders worth Rs 518.2 crore for execution of power transmission and infrastructure related projects in that country.

In a disclosure to the Bombay Stock Exchange, the engineering and construction company said that it has bagged a Rs 207.4 crore order from the Rural Areas Electricity Company for construction, engineering and procurement of power substations. The project will be executed in 18 months.

Port Sultan Qaboos inks deal for upgrade

Port Sultan Qaboos inks deal for upgradePort Sultan Qaboos in Oman has revealed that it has inked a deal worth $ 3 million with Shanghai Zhenhua Port Machinery.

Under the deal, Port Sultan Qaboos scope of work includes design, manufacture, supply and install rubber-tyred gantry cranes and spare parts at the port.

The sources said that the upgrade, which is scheduled for delivery in Q1 of fiscal 2010, is aimed at improving throughput at the facility.

ICWAI signs MoU with Oman

The Institute of Cost and Works Accountants of India (ICWAI) New Delhi, Nov 21 : The Institute of Cost and Works Accountants of India (ICWAI) has entered into a Memorandum of Understanding (MoU) with a prominent corporate group of Oman: Omar Zawawi Establishment LLC (OMZEST) to promote an institute of cost and management accountants in Oman.

OMZEST has diverse commercial interests including promoting higher education in Oman

Indian Prime Minister on Gulf Tour

Indian Prime Minister on Gulf TourPrime Minister, Dr. Manmohan Singh is going to visit Oman and Qatar from November 8 to 10. Mr. Singh would discuss various matters such as two-way investments, energy security and safety of Indians working in Gulf region. Minister for Overseas Indian Affairs Vyalar Ravi, Petroleum Minister Murli Deora and other senior official would also accompany the PM.

India to deploy warship in Gulf of Aden to ward off pirate attacks

India to deploy warship in Gulf of Aden to ward off pirate attacksNew Delhi, Oct. 16 : The Indian Government has reportedly taken a decision to deploy a naval warship in the Gulf of Aden to ward off pirate attacks on merchant vessels flying the Indian tricolour.

"The government today approved deployment of an Indian Naval warship in the Gulf of Aden to patrol the normal route followed by Indian flagships during passage between Salalah in Oman and Aden in Yemen," a Defence Ministry spokesperson announced in New Delhi.

Indian envoy in Oman urges NRIs to donate for flood-ravaged Bihar, UP, Orissa

Muscat, Oct 7: The members of the Indian community in Oman have been urged upon by the Indian envoy here Anil Wadhwa to donate a day's salary to help the flood-stricken people of India, particularly in the states of Bihar, Orissa and Uttar Pradesh, reported the Gulf News.

The Indian envoy made the appeal while addressing members of the Indian community at an open house held at the mission’s premises to celebrate Eid al Fitr.

Meanwhile, the Indian Social Club (ISC), under the aegis of the Indian Embassy, has begun a charity drive to raise funds for the flood victims in Bihar and will hold a fund-raising dinner on the Embassy premises on October 11, added the paper.

Satyam Computer Secures SAP Implementation Order In Oman

Satyam Computer has received a SAP implementation order form Oman-based Khimji Ramdas LLC (KR) standardizes. Satyam is the fourth largest software exporter of India.

Satyam Computer bags a SAP Implementation contract from Oman-based firm

Country's fourth largest software exporter Satyam Computer Services has informed that it has secured a SAP implementation contract from Oman-based Khimji Ramdas LLC, one of the largest business conglomerates in Oman.

Under the terms of the agreement, Satyam will execute several SAP business solutions in areas such as Finance and Controlling, Treasury Management, Materials Management, Sales and Distribution, Project Systems, Customer Service, HR Payroll, HR Administration Merchandising and Assortment planning, GM SAP Point of Sale and DSD module for VAN sales.

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