Latest news with #OMR10
Times of Oman
14-04-2025
- Business
- Times of Oman
Enjoy great benefits with Al-Rifaa Privilege Banking Account
Muscat: BankDhofar's Al Rifaa Privilege Banking Account is designed to provide customers with more than just premium banking services—it also offers a suite of lifestyle benefits tailored to meet their unique needs. Al Rifaa Privilege Banking combines personalised financial services with exclusive perks, including preferential rates on deposits and priority processing of transactions. This innovative product redefines premium banking, delivering superior customer experience, blending financial excellence with bespoke offers and services. Setting a new benchmark for personal banking services, Al Rifaa account holders enjoy priority transaction processing through BankDhofar's Branches and Call Centre along with additional deposit interest rates of up to 0.15%, along with preferential rates on high-yield savings accounts. A standout feature of the Al Rifaa account is the Platinum MasterCard Credit Card, which comes with a diverse collection of exclusive offers and services, including access to airport lounges in select countries, special offers, and reward points on both local and international purchases. Furthermore, account holders gain access to personal accident, car, and travel insurance, underscoring BankDhofar's commitment to complementing their lifestyles with excellence in every aspect. Muhannad bin Mahmoud Al Raisi, Head of Al Rifaa Privilege Banking said: 'We believe that banking is not just about transactions; it goes beyond that to fulfill dreams and enhance lifestyles. With Al Rifaa Account, we are working to raise the bar on personal banking services offered in the Sultanate of Oman.' As Oman's second-largest bank by branch network, BankDhofar is renowned for delivering integrated financial services to corporate and individual customers. Its adherence to international best practices, coupled with a strong emphasis on digital and technological innovation, ensures a superior banking experience across its diverse customer base. Existing customers with a minimum monthly salary of OMR700 or an average monthly deposit balance of OMR10,000 at BankDhofar can upgrade their current account to Al Rifaa Privilege Banking Account. BankDhofar remains committed to its vision of offering high-quality services to all customer segments. This commitment has positioned the bank among the best in the region. For more information, customers can visit any of BankDhofar's 131 branches including Dhofar Islamic, across Oman or access services through its extensive network of over 350 ATMs, cash deposit machines, and multi-use devices.
Times of Oman
10-03-2025
- Times of Oman
Iftar on traditional dhows: A unique trend emerges in Muscat
MUSCAT: As Ramadan unfolds across Muscat, the city's vibrant culture and traditions come alive in unique ways. One such emerging trend is Iftar aboard traditional dhows, offering families and corporate groups a distinctive way to break their fast in Shatti. These Iftar cruises combine the essence of Ramadan with the serenity of the sea, creating unforgettable experiences for those seeking something special during the holy month. The dhow cruises provide a peaceful and picturesque setting, as guests embark on evening journeys along Muscat's coastline, with stunning views near PDO beach. 'We are charging OMR10 for this,' one of the tour operator said. These cruises feature an array of traditional Omani and Middle Eastern dishes, served in buffet-style setups, allowing diners to enjoy their meal while experiencing the beauty of the sea and the gentle evening breeze. The growing popularity of these Iftar cruises highlights a shift towards more experiential ways of celebrating Ramadan. Tranquil alternative Many people are opting for these cruises as a tranquil alternative to the usual dining venues, appreciating the opportunity to enjoy their meal in a more intimate, scenic environment. Some of these cruises also offer customised options for private groups or corporate gatherings, further enhancing the appeal of this trend. As the demand for Iftar cruises increases, it's advisable for interested guests to make reservations in advance, as these experiences are becoming highly sought-after during the holy month. Availability and schedules may vary, so it is recommended to confirm with operators for the most up-to-date information.
Times of Oman
04-03-2025
- Business
- Times of Oman
Asyad Shipping Company announces final IPO price at the top of the range
Muscat: Asyad Shipping Company (under transformation) , one of the world's largest diversified maritime providers and a global leader in deep-sea transportation, on Tuesday announced the final offer price and demand levels for its initial public offering (IPO) on the Muscat Stock Exchange (MSX). The final offer price has been set at 123 baisas per share, at the top of the previously announced offer price range of 117 baisas to 123 baisas per share, raising gross proceeds of OMR128.1 million ($332.8 million) for Asyad Group, (the Selling Shareholder). Based on the final offer price, Asyad Shipping's market capitalisation upon listing will be OMR641 million ($1.66 billion). The Offering comprised of a total of 1,041,748,856 existing shares (Offer Shares) by Asyad Group, representing 20% of Asyad Shipping's total issued share capital. Of those, 25% of Offer Shares were allocated for Category II (Retail Investor) applicants and 75% of Offer Shares were allocated for Category I (Institutional Investor) applicants. In the Category I tranche, 30% of Offer Shares were allocated to the two anchor investors, Mars Development and Investment and Falcon Investments, a subsidiary of the Qatar Investment Authority, who committed to subscribe for 10% and 20% of the Offer Shares respectively, at 123 baisas per share. Asyad Shipping, in collaboration with Asyad Group, appointed Ubhar Capital as the price stabilisation manager and liquidity provider for the Offering. Asyad Group has allocated OMR10 million from the IPO proceeds to Ubhar Capital to conduct stabilising transactions in the Company's shares at the final offer price commencing on the first day of trading and for a period of up to 30 calendar days thereafter. The Asyad Shipping IPO will be the first IPO in Oman where a price stabilisation manager has been appointed. The backing of Asyad Shipping's Offering by prominent local and regional anchor investors played a significant role in the strong demand seen during the Offering. Mars Development and Investment and Falcon Investments, a subsidiary of the Qatar Investment Authority, showed substantial confidence in Asyad Shipping's competitive strengths such as its revenue backlog of $1.9 billion, its backing by the Oman Investment Authority (OIA), its highly experienced management team, and its industry-leading adjusted EBITDA margin of 68%. Their participation provided crucial momentum, contributing to the oversubscription levels experienced in the IPO.
