Currency Authority in 1970 and the Oman Currency Board in 1972), were not vested with full banking status, but, they had well prepared the ground for the emergence of the Central Bank of Oman. (CBO 2012)Before 1970 Oman used Indian rupees as its currency. But in 1970 Oman introduced its...
Indian renewables developer ACME Group has secured a loan of 40 billion rupees ($488m) from state-backed infrastructure bank REC for the first 300MW phase of a green hydrogen and ammonia plant in Oman. ACME’s vice-chairman Shashi Shekhar anticipates the company will imminently begin constructio...
Before 1940, the Indian rupee and the Maria Theresa thaler (known locally as the rial) were the main currencies circulating in Muscat and Oman, as the state was then known, with rupees circulating on the coast and Thaler in the interior. Maria Theresa Thaler were valued at 230 paisa, with...
ECONOMYNEXT – India has signed an agreement with Sri Lanka to provide 80 cabs and grant assistance of up to 300 million rupees. The project entails supply of at least 80 single cabs, spare parts and accessories to police stations in the island’s Northern Province, “addressing a vital requ...
Akasa Air officially took off in August 2022 and is yet to reach its first anniversary, but it has been making significant progress in the Indian airline industry. The numbers show that the airline posted an income of 7.77 billion Rupees ($94.5 million) while operating costs stand at 18.66 ...
The article reports that Bharat Oman Refineries, a joint venture between Indian state oil company Bharat Petroleum and state Oman Oil, will issue an initial public offering in its 2008 fiscal year to raise 1,200 crore rupees for its planned refinery at Bina in Madhya Pradesh, India. The ...