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#Oman's new parliament law shrouds budget talks in secrecy | Reuters

Oman's new parliament law shrouds budget talks in secrecy | Reuters Oman has introduced a new law for parliament stipulating that state budget talks and the questioning of ministers should be carried out in secret, reducing transparency as the indebted state tries to tackle its creaking finances and shore up the economy.Since assuming power a year ago, Sultan Haitham bin Tariq al-Said has overhauled government and state entities and begun pushing through sensitive fiscal reforms such as reductio...
Tags: Travel, Oman, Reuters, Reuters Oman, Rupert Neil Bumfrey, Haitham bin Tariq al Said, Council of Oman


#Oman back to debt markets with multi-tranche dollar bond offering | Reuters

Oman back to debt markets with multi-tranche dollar bond offering | Reuters Oman started selling U.S. dollar-denominated multi-tranche bonds on Thursday, a document showed, as the debt-burdened Gulf oil producer seeks fresh funding to cover a large fiscal shortfall.Oman is selling bonds with maturities of 10 and 30 years, and it re-opened $750 million bonds due in 2025, according to a document issued by one of the banks leading the deal and seen by Reuters.Oman, rated below investment grade by a...
Tags: Travel, Oman, Gulf, Reuters, Reuters Oman, Rupert Neil Bumfrey


Omani sultan's eldest son to succeed him under new law | Reuters

Omani sultan's eldest son to succeed him under new law | Reuters Oman’s Sultan Haitham will be succeeded by his eldest son Dhi Yazan, according to a new basic law published on Tuesday that creates a new position of crown prince and establishes succession from ruler to the eldest son. FILE PHOTO: Sultan Haitham bin Tariq al-Said gives a speech after being sworn in before the royal family council in Muscat, Oman January 11, 2020. REUTERS/Sultan Al Hasani/File Photo Su...
Tags: Travel, Muscat, Reuters, Reuters Oman, Rupert Neil Bumfrey, Haitham, Haitham bin Tariq al Said, Dhi Yazan


MIDEAST DEBT- #Oman raising up to $2 bln loan with mostly regional banks - sources | Reuters

MIDEAST DEBT-Oman raising up to $2 bln loan with mostly regional banks - sources | Reuters Oman is looking to raise up to $2 billion with a loan arranged mostly by local and regional lenders, as international banks tread carefully due to the deterioration of its credit profile, sources said.Oman started talks with banks for a new loan of at least $1 billion in November, sources told Reuters at the time, as it geared up for heavy debt redemptions.It is now working with a group of banks to raise a...
Tags: Travel, Oman, Reuters, Reuters Oman, Rupert Neil Bumfrey, Bank Dhofar


#Oman turns stock exchange into closed joint stock company | Reuters

Oman turns stock exchange into closed joint stock company | Reuters Oman’s stock market, the Muscat Securities Market, has been converted into a closed joint stock company and put under the ownership of the state-owned Oman Investment Authority, state media said on Wednesday.It will be called the Muscat Stock Exchange and all assets and employees of the Muscat Securities Market will be transferred to that new entity, Oman news Agency said.Oman established the Oman Investment Authority in June to...
Tags: Travel, Oman, Reuters Oman, Rupert Neil Bumfrey, Oman News Agency, Oman Investment Authority, Muscat Securities Market, | Reuters, Muscat Stock Exchange


#Oman talks to banks about new loan of at least $1 billion: sources | Reuters

Oman talks to banks about new loan of at least $1 billion: sources | Reuters Oman is discussing a loan of at least $1 billion with a group of banks, sources said, as the oil-producing Gulf state seeks more funding ahead of heavy debt redemptions over the next two years.Rated below investment grade by all major credit agencies, Oman issued $2 billion in bonds last month in a deal which saw lacklustre demand partly because of investor concerns over the country’s worsening credit trajectory.It is n...
Tags: Travel, Oman, Gulf, Reuters, Reuters Oman, Rupert Neil Bumfrey


#Oman secures $2 billion bridge loan: sources - Reuters

Oman secures $2 billion bridge loan: sources - Reuters:The government of Oman has signed a one-year $2 billion bridge loan with a group of international and regional banks, two sources with knowledge of the matter said on Wednesday.The loan, which will be repaid with money raised from an international bond issuance, will bolster state coffers hit by low oil prices and the economic downturn caused by the coronavirus crisis.The Omani finance ministry did not immediately respond to a Reuters reques...
Tags: Travel, Oman, Reuters, Reuters Oman, Bank Muscat, Rupert Neil Bumfrey, First Abu Dhabi Bank



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