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Oman’s banking sector total assets rise 46.6pc, says CBO

MUSCAT- Oman’s banking sector has turned in a strong performance so far in the current year, according to a Central Bank of Oman (CBO) report. Their total assets, it said, rose by 46.6 per cent in the first half to RO12.1 billion, compared to the corresponding period of 2007. Provisional figures of net profits stood at RO139.1 million, against RO 90.7 million.

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From a correspondent

Bahrain plans to host international air show

By a staff reporter

DUBAI - Bahrain will host international air show in 2010. An agreement to this effect was signed on Sunday by Civil Aviation Under-Secretary Capt Abdulrah-man Al Gaoud and Farnborough International Airshow managing director Trevor Sidebottom. The show is expected to attract major international companies, specialised in military and civil aviation and support services, said a BNA statement. Around 40,000 visitors from all over the world are expected to visit the show.

Capt Al Gaoud said : "The event would bring together buyers and suppliers and feature static and flying displays. The agreement coincides with the air industry trade event's 60th anniversary and the centenary of the first powered flight in England by Samuel Cody in 1908."

Jawad Business Group signs agreement with Mofakro

By a staff reporter

DUBAI - Jawad Business Group recently signed an agreement with Mofakro Group, which will allow Mofakro Group's information display division to place and operate digital signage networks in the various grocery outlets of Jawad Business Group. With this addition, it will soon be possible for food brands to advertise within a large network of grocery stores in Bahrain, thereby reaching their target customer at the point of purchase.

Mofakro Group's information display division specialises in the development, implementation and operation of digital signage systems that combine multimedia content with hardware to create interactive video display systems and dynamic digital displays.

Standard Chartered Saadiq wins Euromoney Islamic Finance Award

By a staff reporter

DUBAI - Standard Chartered Saadiq has been named the Best Project Finance House from Euromoney Islamic Finance Award 2008, Deal of the Year for African Transport / Ports for Doraleh Container Terminal from Euromoney Project Finance Magazine and Pakistan Deal of the Year for Engro Chemical Pakistan Limited from Islamic Finance News.

The Best Project Finance House and Deal of the Year award for Doraleh Container Terminal, which is part of DP World, is a $263 million syndicated project finance facility. It is the single largest foreign direct investment in the country and first ever limited recourse project financing in Djibouti. The project entails the development of a Greenfield container terminal in Djibouti by DP World and the government of Djibouti.