Oman welcomes Indian investment, joint ventures

October 10th, 2009 NEW DELHI - The Indian Air Force's (IAF) deep penetration strike aircraft Jaguar will fly down to Oman this month for a military exercise. "To further military diplomacy and for addressing issues of inter-operabililty, IAF will be conducting a series of international exercises.

September 10th, 2009 NEW DELHI - The government Thursday gave its approval for constituting a joint venture company, Invest India, to promote the country as an investment destination for foreign companies. The proposed company will be a joint venture between the government of India, Federation of Indian Chambers of Commerce and Industry and the state governments, an official statement said.

June 22nd, 2009 NEW DELHI - The government is considering giving "maharatna" status to big public sector undertakings (PSUs) to provide them greater freedom to take strategic decisions in key areas of investment and mergers and acquisitions. The plan to create the "maharatna" group among the so-called "navaratna" companies is part of the 100-day agenda of the ministry of heavy industries and public enterprises, a government statement said Monday.

June 17th, 2009 NEW DELHI - India Wednesday signed a labour agreement with Bahrain that will facilitate better worker mobilisation between the two countries. The memorandum of understanding (MoU) on labour and manpower development was signed by Minister for Overseas Indian Affairs Vayalar Ravi and Bahraini Labour Minister Majeed Bin Muhsin Al Alawi in Bahrain.

May 18th, 2009 LONDON - The UK India Business Council Monday welcomed the outcome of the Indian elections, saying it bodes well for the Indian economy. 'The markets have given their verdict - a 17 percent increase in stock prices today,' the group said in a statement.

April 16th, 2009 NEW DELHI - Urging for 'greater US investment flow' into India, a top diplomat said here Thursday that this was a good time for foreign institutional investors (FIIs) to return to the country as the economic situation was improving. Speaking at an interactive meeting with members of the Indo-American Chamber of Commerce (IACC) here, Meera Shankar, India's ambassador designate to the US, underlined the need to take appropriate steps to further enrich the economic engagement.

February 16th, 2009 NEW DELHI - The government has approved the formation of separate joint venture companies between National Aviation Co of India Ltd (NACIL) and Singapore Air Terminal Services (SATS) for cargo and ground handling activities at various airports, an official statement said. NACIL, which also owns Air India, has already bagged contracts for three projects, to be executed with SATS - a Rs.99-crore (Rs.990 million) cargo handling contract and a Rs.73-crore (Rs.730-million) ground handling contract from Bangalore airport authorities, apart from a Rs.80-crore (Rs.800-million) ground handling contract from the Hyderabad airport developer.

February 15th, 2009 NEW DELHI - Jet Airways has entered into agreements with Oman Air for leasing out, on a wet lease basis, of two A-330-200 aircraft for a period of six months each, with effect from May, the company announced Monday. 'These steps are being taken, under the ongoing route re-structuring and cost-saving programme undertaken by the company,' Jet said in a regulatory statement.

February 4th, 2009 NEW DELHI - The government Thursday approved a proposal to set up two greenfield electric and diesel locomotive factories in Bihar at an estimated investment of Rs.20 billion (Rs.2,000 crore). The factories will be set up in Madhepura and Saran districts as a joint venture between Indian Railways and an international manufacturer.

February 1st, 2009 TEHRAN - The Iranian Navy plans to establish new bases in the Sea of Oman by 2015, Mehr News reported. The naval bases are currently under construction and they will be completed by the end of the fifth five year Socio-Economic Development Plan (2010-2015), said Rear Admiral Habibollah Sayyari, commander of the Iranian Navy Sunday.

January 22nd, 2009 NEW DELHI - Engineering and construction major Larsen and Toubro (L&T) Friday said its joint venture in Oman has bagged orders worth $245 million (Rs.11.98 billion). The orders cover construction of a hotel and apartments for the second Asian Beach Games and a mosque and underground cabling in Oman, a statement by L&T (Oman) LLC said.

January 16th, 2009 DUBAI - Oman has released details of a new special economic zone (SEZ) that is being set up in partnership with strategic international investors including an Indian infrastructure development firm. The Sohar Special Economic Zone, a joint venture between the Oman government's Sohar International Development Company, India's SKIL Infrastructure and the Netherlands' Port of Rotterdam, would come up in four phases across a 4,500-hectare area near the port of Sohar, 240 km northwest of the Omani capital Muscat.

January 16th, 2009 DUBAI - India was the second biggest receiver of non-oil exports from Oman in 2008, new figures have revealed. India imported 182 million Omani riyals (around $472.7 million) worth of non-oil commodities from that Gulf nation in the first eight months of 2008, according to statistics released by Oman's Ministry of National Economy.

January 15th, 2009 NEW DELHI - India is working on a multi-faceted cooperation structure with the Gulf nations with that region becoming a key trading partner. India and the Gulf also share the need for continued political stability and security in the region, according to Minister of State for External Affairs E.

January 8th, 2009 CHENNAI - Complaints of ill treatment of migrant workers by Indian immigration officials and by officials of Indian embassies abroad, the lack of higher education facilities for children of Indian workers and lack of legal assistance for jailed workers abroad were some of the issues brought to the notice of Union Minister for Overseas Indian Affairs Vayalar Ravi by the people from the Gulf region here Friday. Participating in the session to discuss the problems faced by the Indians in the Gulf region at the seventh Pravasi Bharatiya Divas (PBD) convention, a delegate said: 'I saw an immigration official throwing a passport on the face of two workers.