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Furthering Oman Vision 2040 Our ambition is to contribute meaningfully to the Sultanate’s goals of developing human capital, promoting healthy lifestyles, and establishing sustainable sports infrastructure that serves future generations

HH Sayyid Firas Bin Fatik Al Said Chairman, Firas Bin Fatik SPC

FIRAS BIN FATIK SPC Building Oman’s Sports & Wellness Infrastructure Firas Bin Fatik SPC is a 100% Omani-owned company delivering integrated design & build solutions for sports, fitness, and wellness facilities across the Sultanate of Oman. We support public and private sector clients with internationally compliant systems, executed with local expertise.

Core Services

Why Firas Bin Fatik SPC

Sports Facility Design & Build

Turnkey project delivery

Artificial Turf & Running Tracks

International standards, local execution

Multipurpose Courts & Padel Courts

Proven projects across Oman

Stadium Equipment & Stadium Lighting

Focus on quality, safety & durability

Fitness, Wellness & Pool Solutions

After-sales support & maintenance

www.firasfatik.com business@firasfatik.com Firas Bin Fatik SPC

Marketing Enquiries

+968 96761929 marcom@firasfatik.com

Sales enquiries +968 96761925 sales@firasfatik.com

Sustainable Delivery of Quality and Nutritious Products

No. 302 December, 2025

EDITOR’S DESK

Value perception Trust has emerged as a cornerstone of consumer-brand relationships, intricately woven through perceptions, recommendations, quality, and value. Brands that excel not only deliver consistent experiences but also foster emotional connections with their audiences. However, recent years have witnessed a seismic shift in this dynamic, leading to a widening trust gap between consumers and companies. This growing divide presents significant challenges for businesses, as dwindling customer loyalty and shifting expectations necessitate a re-evaluation of how they engage with their clientele. EDITORIAL Editor-in-chief Said Masoud Almashani Executive Vice President and Group Editor Mayank Singh Editor Oommen John P DESIGN Director Production – Print Ramesh Govindaraj Chief Photographer Rajesh Rajan Cover concept Rakesh Radhakrishnan

MARKETING Associate Advertising Director Shivkumar Gaitonde Business Manager Dhanish Pillai

In PwC’s 2025 Customer Experience Survey, more than half of consumers (52 per cent) say they stopped using or buying from a brand because they had a bad experience with its products or services, while nearly a third (29 per cent) stopped due to poor customer experience, either online or in-person. Yet many executives seem to be playing a different game entirely. About nine out of 10 say customer loyalty has grown in recent years, but only four in 10 consumers say the same. Price is still the leading factor for many consumers before they click “buy,” with 69 per cent saying that comparing prices significantly influences their decision to engage with a brand; that number tops 70 per cent in multiple industries. OER’s Most Trusted Brands 2025 survey brings readers a compilation of the brands, which have earned a high level of trust in the market. These brands are preferred by customers for their exceptional quality, service and delivery. Read our cover story for the month, which explores these cutting-edge brands and brands that have secured top spots in consumer trust. We hope you find the survey both informative and insightful.

OommenJohn

CORPORATE Chief Executive Officer Atulya Sharma

Oommen John

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MAIL

INNOVATIVE OPPORTUNITIES Your cover story on ‘Wealth management and investment solutions,’ was interesting. As an individual navigating the complexities of personal finance, I have witnessed firsthand how the wealth management industry is evolving to meet our diverse needs amidst a rapidly changing economic landscape. Increasingly, financial institutions are transforming their services to enhance our investing experience, recognising that tailored support can significantly impact our financial well-being. Wealth managers are introducing a range of products—from mutual funds to bonds—with an emphasis on accessibility and personalisation. The rise of Sharia-compliant financing options is particularly notable, as it reflects a growing awareness of diverse cultural and ethical investing preferences. Collaborations between institutions and specialised asset managers are creating innovative opportunities that not only comply with regulatory standards but also resonate with individual values. Personalised advisory services enable us to understand our savings better and highlight the critical role of effective financial planning. As someone who values long-term economic stability, I see how comprehensive financial planning, along with sustainable investments and the use of AI-driven tools, is reshaping the way individuals like myself engage with wealth management. These advancements are essential for fostering a more inclusive financial environment where everyone can thrive. I would like to call upon industry leaders to continue prioritising these strategies, ensuring that we are equipped with the knowledge and tools to achieve our financial goals. Murray Robins, MQ

TOURISM BOOST It is encouraging to see that Oman Air has joined forces with leading tour operator Fun & Sun to introduce charter flights connecting Moscow and Salalah. This venture is anticipated to draw around 7,000 more visitors to Salalah this season, significantly enhancing domestic tourism and driving economic growth in Dhofar. This partnership signifies the growing interest from the Russian market and complements Oman Air’s established scheduled flights from Muscat to Moscow, which run up to nine times a week. The initiative is projected to make a substantial impact on Oman’s economy, with an expected RO90mn increase in local spending each year. This is indeed an exciting moment for Oman, and I look forward to witnessing Dhofar thrive as a top destination for international travellers. Sami Battashi, Rustaq

December 2025

INSIDE

14 COVER STORY

8 INTERVIEW

FACE 2 FACE

LEGACY AND INNOVATION

ENERGY

POWER INNOVATION

The rebranding of Trade Links & Services (TLS) marks a strategic transformation that goes beyond a visual update, reflecting the company’s evolution into a future-focused, multivertical solutions partner dedicated to sustainability, innovation and digital advancement, says CEO, Wael Chehade

SMN Power Holding operates on a strong contractual framework with reliable partners and stakeholder management, adapting to regulatory changes and technological advancements while supporting Oman’s long-term energy transition initiatives, says Acting CEO and CFO Abdullah Al Naimi

Editorial ........................ 1

Business Briefs ............. 4

In the news.................... 7

ECONOMY

TECHNOLOGY

LIFESTYLE

LEADERSPEAK

LISTINGS

VIDEO

Oman’s net wealth reaches $300bn in 2024, poised for steady growth Oman’s financial wealth was evaluated to be at $115bn between 2023 to 2024. Real assets CAGR decreased 0.2 per cent, reaching $197bn, with projected growth to $223bn by 2029

How India & the Middle East are exploiting immense economic synergies Energy......................... 51

Event-AI Security ....... 54

Bill Board.................... 58

By April 2025, over 40 Indian corporate giants, including L&T, Tata Motors, Wipro, TCS, have established their regional offices in Saudi Arabia. The substantial presence of Indian-origin companies in Saudi Arabia is a precursor to their commitment to the Bilateral Investment Treaty (BIT), which, in November 2025, was announced to close soon

Oman Oil Marketing Company concludes annual health, safety, environment, and quality week, reaffirming people and safety as a top priority Oman Oil Marketing Company recently concluded its annual Health, Safety, Environment, and Quality Week through a dynamic program of interactive activities aimed at strengthening health, safety, environmental, and quality awareness across the company and its partner network

BUSINESS BRIEFS Bank Muscat honoured with the Best Private Bank in Oman Award by MEED

In recognition of its pioneering role in providing exceptional banking solutions that cater to the diverse needs of customers, Bank Muscat, the leading financial services provider in the Sultanate of Oman, was recently awarded the “Best Private Bank in Oman” by MEED at the MENA Excellence Wealth and Private Banking Awards. These prestigious awards recognize the most innovative and customer-focused financial institutions across various sectors in the region. The Bank’s award was received by Salim Said Al Shanfari, the representative of Bank Muscat’s office in UAE, attended by prominent figures from across the Middle East and the world.

This recognition highlights the professional standards which the Bank consistently adheres to, in line with international standards and practices. It also underscores Bank Muscat’s effective role in offering the best banking solutions and products to customers, in alignment with the Bank’s corporate vision “To serve you better every day.” On this occasion, Abdulnasir N. Al Raisi, General Manager of Personal Banking at Bank Muscat, said, “We take pride in the recognition that the Bank has been honored with as the best private bank in Oman by MEED. This recognition further underscores the Bank’s leading role in

providing a full suite of distinguished banking services and solutions that aim to cater to the various needs of its valued Private Banking customers. These services include banking and wealth management solutions, backed with an experienced team of relationship managers. We would like to thank our customers for their continued confidence and support over the years, as we continue to strive to bring the best banking experience to all of them. The Bank will maintain its commitment to offering the best banking services and products to enhance the banking experience for all its customers.” Bank Muscat has dedicated Private Banking desks at the Bank’s Head Office at Airport Heights, Madinat Sultan Qaboos branch, Azaiba 18th November Street branch, and Sohar mega branch in Al Batinah North Governorate. These desks are equipped with the latest technologies to offer an exceptional banking experience to Private Banking customers, aligned with the best banking standards in the Sultanate and internationally. Customers enjoy convenience while initiating and completing various transactions, with the support of dedicated relationship managers who ensure efficient and swift customer service. The Bank will continue its commitment to expanding its branch network across the country to serve a wider customer base, thus, meeting their diverse needs.

NBO named Bank of the Year 2025 by The Banker Reaffirming its pioneering position in the banking sector, the National Bank of Oman (NBO) has won the prestigious Bank of the Year Award for 2025 from The Banker. This globally recognised accolade is presented exclusively to the bestperforming banks in 120 countries that meet the award’s stringent evaluation criteria. The honour reflects NBO’s sustained momentum across its strategic initiatives, growth trajectory, and digital transformation efforts, in line with national development and Oman Vision 2040. At a ceremony held in London on December 3, 2025, the global financial community came together to celebrate distinguished achievements in the banking industry. NBO was represented by Brigadier Jamal Said Al Tai, Board Member, and Abdullah Zahran Al Hinai, CEO, and Maha Saud Al Raisi, Assistant General Manager – Head of Products, who accepted the award on behalf of the Bank.NBO earned this recognition based on its strong financial performance, strategic direction, and continued investment in innovation and customer experience. Among the Bank’s key initiatives is the NBO Fintech Accelerator 4

December 2025

Program, Oman’s first fully integrated banking accelerator designed to support high potential fintech startups and bridge the gap between technology and traditional banking. Through this program and complemented by the NBO Hackathon, participating startups gained access to the Bank’s infrastructure, regulatory support, and mentorship, enabling them to run live Proof of Concepts within NBO’s environment and further strengthen the national fintech ecosystem. The Bank also continued to advance its digital capabilities through several enhancements to the NBO App, including fully digital credit card applications, digital personal loan top-ups, SIP applications, virtual debit card issuance, and instant digital onboarding. Beyond the app, NBO expanded its digital service network with solutions such as self-service cheque printing, instant debit card issuance, and upgraded kiosk services. The Bank also introduced the mPOS solution and Full Function Machine (FFM), offering remittances and accessibility features such

as voice-guided transactions. Additionally, NBO launched Eid Note Dispensing Machines across key locations in the Sultanate, providing convenient access to smaller denomination notes during the festive season and reinforcing its commitment to practical, customercentric innovation. NBO also continued to strengthen its position in the financial markets, successfully issuing $ 450 million of Additional Tier 1 capital securities that were well received by regional and international investors, reflecting strong confidence in the Bank’s strategy and performance.

Oman Arab Bank receives Citibank’s ‘Straight Through Processing’ Excellence Award Oman Arab Bank (OAB) has announced its receipt of the ‘Straight Through Processing’ (STP) Excellence Award 2024 from the Citibank. This recognition, consistently earned since 2018, highlights OAB’s leading position in the financial industry, emphasizing its excellence in secure transaction processing. Asma Al Zadjali, Chief Banking Operations Officer at OAB, expressed her gratitude, stating, “We are honoured to be recognised by Citibank for our excellence in STP. This award underscores our commitment to customer service and achieving 100% accuracy and efficiency on Treasury Payments and 99.8 per cent for Customer Payments.” She added, “The accelerated pace of processing times is a notable advantage arising from OAB’s embrace of automation. This enables transactions to be executed much faster than traditional manual processes.” OAB’s innovations in automation lead to smoother experiences for

its customers, including modification-free rates, instant transactions, and highly accurate outcomes. The STP Excellence Award from Citibank serves as a testament to how OAB leverages operational and technological excellence to deliver high-quality customer experience. This award signifies OAB’s strategic foresight in adopting and investing

in STP technology, aligning with its goal to stay ahead in the competitive financial market. The bank’s focus on process reengineering and automating processes not only addresses the current needs of the banking sector but also positions OAB for future advancements in financial services, reinforcing its dedication to delivering top-tier customer experiences.

Sohar International receives approval from Central Bank of Oman to open a Representative Office in Hong Kong As part of its ongoing pursuit of strategic growth and enhanced international presence, Sohar International has received approval from the Central Bank of Oman (CBO) to establish a representative office in Hong Kong, marking a significant milestone in the bank’s international growth journey and reinforcing its commitment to strengthening Oman’s connectivity with key global financial markets. The approval underscores Sohar International’s ambition to play a more active role in facilitating cross-border trade, investment, and financial collaboration between Oman, Asia, in line with Oman’s Vision 2040 to promote economic diversification, strengthen international trade links, and consolidate the Sultanate’s position as a globally recognized financial and commercial hub. Commenting on the approval, Abdulwahid Al Murshidi, CEO, Sohar International, said, “Securing the Central Bank of Oman’s approval to establish a representative office in Hong Kong represents a pivotal step in advancing

Sohar International’s long-term international strategy. Asia is central to global trade, capital flows, and economic influence, and our presence in one of its leading financial hubs will enhance our ability to support clients as they navigate increasingly interconnected markets. This expansion comes as a continuation of our previous steps, including the recent inauguration of the Riyadh branch in the Kingdom of Saudi Arabia. This expansion reflects our commitment to establishing Sohar International as a trusted Omani banking partner that bridges geographies, enables opportunity, and contributes to the Sultanate’s broader economic ambitions.” Hong Kong continues to serve as a critical engine for global economic activity and a gateway for cross-border investment and trade facilitation. Establishing a representative office in this region will enable Sohar International to deepen institutional relationships, engage more closely with Asian financial institutions and corporates, encourage knowledge sharing in

line with best practices, and provide enhanced on-ground support to clients involved in international trade, treasury, and investment activities. The representative office is intended to serve as a platform for relationshipbuilding, market engagement, and business development, reinforcing Sohar International’s role in connecting Omani businesses with international opportunities while attracting global interest into the Sultanate. Through this presence, the bank aims to enhance information exchange, facilitate partnerships, and support the evolving needs of clients operating across multiple jurisdictions. This development is part of Sohar International’s broader ambition to build a balanced international footprint and be present across key financial corridors across various active business hubs.

BUSINESS BRIEFS EXECUTIVE MOVEMENT

Bank Nizwa appoints Deputy CEO - Chief Operations Officer University (USA) and an EMBA-LDT (Executive Masters in Business Administration – Leading Digital Transformation) from HEC Paris. He has also completed advanced executive programs at various reputed academic institutions, including Harvard Business School (USA), INSEAD (France), and others.

In line with its ongoing commitment to nurturing highly qualified Omani talent within the Islamic banking sector, Bank Nizwa, the leading and most trusted Islamic bank in the Sultanate of Oman, has announced the appointment of Tariq bin Atiq as Deputy Chief Executive Officer and Chief Operations Officer. This strategic appointment underscores the bank’s vision to attract and empower promising national talent, strengthen the Islamic banking ecosystem, and contribute meaningfully to the growth and advancement of the Islamic finance industry in the Sultanate. Tariq brings over 25 years of diversified banking experience, including retail banking, corporate banking, SME banking, digital banking, international operations, and business development leadership. He has played a key role in driving strategic growth, enhancing customer experience, and leading digital

and operational transformation across major financial institutions. He holds a B.Sc. in Business Administration from Arkansas State

Bank Nizwa plays a leading role in advancing the Islamic finance sector in the Sultanate, fostering sustainable growth through product and service innovation, raising financial awareness, and developing highly skilled national talent capable of leading the industry. The bank also actively supports national economic development, promotes global best banking practices, and embraces digital transformation initiatives to deliver innovative and reliable financial solutions that meet evolving customer expectations. These efforts collectively strengthen Oman’s position as a regional hub for Islamic banking.

Khedmah introduces in-app medical insurance services in partnership with Dhofar Insurance Khedmah, Oman’s leading digital payments and services platform, recently announced the launch of a comprehensive range of medical insurance solutions designed to meet the diverse needs of individuals, families, SMEs, and households across the Sultanate. Introduced in partnership with Dhofar Insurance, the offering expands Khedmah’s suite of value-driven digital services while enhancing access to essential health coverage. Through Khedmah, customers can now conveniently access a variety of medical insurance products, making it easier than ever to ensure the health and wellbeing of employees, domestic workers, and loved ones. Small and medium enterprises, as well as companies employing staff under labor regulations, can provide their employees with affordable worker health cover or unified health

December 2025

insurance, offering essential protection while ensuring compliance. Families employing domestic workers, including housemaids, drivers, and caregivers, can now secure mandatory coverage through domestic worker medical insurance, safeguarding their staff and meeting regulatory requirements. Individuals and families seeking personal medical coverage can benefit from individual medical insurance, providing flexible and reliable protection for themselves and their dependents. Zaaima Al Qasimi, Business Development at Khedmah, said, “Our mission at Khedmah has always been to simplify access to essential services while delivering value and peace of mind. By offering comprehensive medical insurance options for all segments, we are empowering our customers to take control of their health and financial security with ease.”

IN THE NEWS

RESILIENT VENTURES ahli Expo 2025: A national platform to empower SMEs and foster strategic partnerships

Continuing its commitment to support the national economy and strengthening the foundations of sustainable growth, ahlibank organised the second edition of ahli Expo 2025 under the theme “Sustainable Prosperity: Business Readiness in a Renewed Economic Environment.” The Expo served as a strategic platform bringing together entrepreneurs, SMEs owners, regulators, and industry experts. It aimed to foster growth opportunities, build meaningful partnerships, and showcase products and services in an innovative and effective manner. The event was held at ahlibank’s Head Office in Al Wattaya, and featured a series of interactive workshops and engaging panel discussions that enriched dialogue and knowledge exchange.

from both the public and private sectors, bringing them together on a single platform for dialogue and knowledge exchange. The event featured the participation of the Ministry of Commerce, Industry and Investment Promotion & Oman Chamber of Commerce and Industry, as the key entities supporting and developing small and medium enterprises.

ahli Expo 2025 featured an exhibition dedicated to SMEs, where 60 entrepreneurs showcased their products and services in different sectors such as real estate development, education and development, financing consulting, HR solutions, contracting and engineering consulting, tourism and hospitality, health and safety, information technology and artificial intelligence. It provided valuable opportunities to build strategic relationships and partnerships with local companies and industry experts, supporting business growth through knowledge and experience exchange. The exhibition served as an effective platform for direct engagement and for gaining insight into the latest trends shaping Oman’s business environment.

The Expo featured inspiring experiences and local success stories that reflected the growth of entrepreneurship in the Sultanate. An interactive workshop focused on financial sustainability and building resilient business models, contributing to discussions on the current business landscape and equipping participants with practical skills to improve efficiency and scale their businesses within the Omani market.

The event attracted strong attendance and high levels of engagement

This reflected the importance of effective government engagement in bridging policies and legislation with market realities, strengthening practical integration with the private sector and entrepreneurs, and opening direct channels for discussion and collaboration that help align initiatives with the needs of SMEs and support their sustainable growth.

ahli Expo 2025 underscores ahlibank’s vital role as a strategic partner in supporting small and medium enterprises, extending beyond financing to provide an integrated platform for learning, knowledge exchange, and the building of sustainable relationships and partnerships. This reflects the bank’s vision of empowering entrepreneurs and contributing meaningfully to sustainable economic development in the Sultanate of Oman.

INTERVIEW

A TRUSTED PARTNER OFFERING INTERNATIONAL STANDARDS HH Sayyid Firas Bin Fatik Al Said, Chairman, Firas Bin Fatik SPC underscores quality, reliability, innovation and national responsibility as the foundational principles of the organisation in an interview with Mayank Singh Can you share insights into the company’s operations, values, and positioning in the sports and fitness industry? We started Firas Bin Fatik SPC in 2022 with the aim to use my passion for sports as an enabler to develop sporting infrastructure and to promote sports amongst the community and youth in Oman. There is a renewed focus on sports under the leadership of HH Sayyid Theyazin bin Haitham Al Said, the Minister of Culture, Sports and Youth and we are working closely with the Ministry to furthering the country’s vision. Firas Bin Fatik SPC is a proudly Omani-owned enterprise dedicated to delivering comprehensive, end-toend solutions for sports and fitness infrastructure. Our scope of operations encompasses the full project lifecycle— from conceptual design and technical consultancy to supply, installation, and long-term maintenance. This includes artificial turf systems, athletics running tracks, indoor and outdoor courts, fitness centers, swimming pools, and arena seating solutions. Our foundation rests upon the principles of quality, reliability, 8

December 2025

innovation, and national responsibility. We distinguish ourselves by going beyond the conventional role of a supplier. Instead, we act as a strategic partner, beginning with design advisory, integrating the latest advancements in global sports technology, and engineering facilities that deliver enduring value. Within the market, we position ourselves as a trusted local partner operating to international standards, fully aligned with Oman Vision 2040. Our ambition is to contribute meaningfully to the Sultanate’s goals of developing human capital, promoting healthy lifestyles, and establishing sustainable sports infrastructure that serves future generations. What inspired your vision for innovative sporting infrastructure? My vision is rooted in a sincere passion for sports and an enduring commitment to national development. As sports enthusiasts and practitioners, we observed a clear gap between what clients require functionally and what they aspire to achieve through sports infrastructure. This realisation inspired our mission

to bridge that gap—by delivering world-class, safe, and durable facilities that are thoughtfully designed around the needs of athletes, institutions, and communities. In doing so, we seek to elevate the standard of sports infrastructure in Oman and support the broader objectives of Vision 2040, particularly in youth empowerment, community wellbeing, and sustainable development. How do you ensure that your designs are adaptable to various sports and fitness initiatives in Oman? All our products are approved by internationally accredited sporting organisations which is a testament to their high quality standards. Adaptability is achieved through early engagement and inclusive planning. From the initial stages, we involve all relevant stakeholders—clients, consultants, and technical partners— well before project execution begins. We conduct detailed assessments, offer technical recommendations, and organise site evaluations to fully understand each project’s purpose and long-term vision. In many cases, we take additional measures to enhance value by refining

layouts, recommending alternative systems, or introducing multi-use solutions. Through close collaboration and a deep understanding of usage patterns and future expansion needs, we ensure our designs remain flexible, functional, and relevant across a wide spectrum of sports and fitness initiatives. What sustainable practices do you implement in your projects? Sustainability is a fundamental pillar of our approach and a core principle aligned with the objectives of Oman Vision 2040, particularly in the areas of environmental stewardship, infrastructure resilience, and long-

term economic efficiency. Across all our projects, we prioritise the use of durable materials, environmentally responsible systems, and lifecyclebased design solutions that ensure lasting value for both our clients and the wider community. A notable example is the Al Khadra project, where we deliberately moved beyond conventional artificial football field systems commonly used in Oman. Traditionally, such systems rely on SBR rubber infill, which presents several challenges, including hardening under prolonged exposure to heat and sunlight, increased risk of player injuries, higher maintenance

requirements, and the release of microplastics that contribute to environmental and surface pollution. In response to these concerns, we introduced a state-of-the-art artificial football turf system in strategic partnership with our international principal, POLYTAN. This advanced solution completely eliminates the need for SBR granules and instead utilises silica sand infill, significantly improving player safety, thermal stability, and environmental performance. To further enhance durability and playing comfort, we incorporated a

INTERVIEW

rubber elastic (E-layer) shock pad beneath the turf system, ensuring optimal force reduction and consistent playing characteristics while extending the overall lifespan of the field. This integrated approach not only reduces long-term maintenance costs for the client but also delivers a safer, more sustainable playing surface suited to Oman’s climate and usage demands. Through such innovations, we ensure that sustainability is embedded not only environmentally, but also technically and economically, supporting Oman’s long-term vision for responsible infrastructure development and high-quality sports facilities. What trends do you foresee in the sports and fitness infrastructure sector in the coming years? The sports and fitness infrastructure sector is undergoing a significant transformation, driven by evolving lifestyles, increased public health awareness, and national development objectives. We foresee a growing demand for multi-purpose sports complexes, integrated fitness and wellness facilities, and infrastructure that supports both community-level participation and high-performance training environments. In addition to traditional facilities, there is a notable shift toward openaccess public parks and outdoor sports arenas that encourage active living across all age groups. Developments such as cycling and bike parks, skate parks, outdoor fitness zones, and urban recreational spaces are becoming essential components of modern city planning. These facilities not only promote physical activity but also foster social interaction, youth engagement, and inclusive community development. Furthermore, Oman’s rich sporting culture and diverse landscape are driving increased investment in specialised outdoor and adventure sports infrastructure, including equestrian facilities, motorsports and car racing tracks, desert and endurance sports venues, and multi-use open-air 10

December 2025

arenas. Such developments contribute to sports tourism, talent development, and economic diversification, aligning strongly with the aspirations of Oman Vision 2040. Technology-driven solutions, smart facility management systems, and sustainability-led design will continue to define industry benchmarks. At Firas Bin Fatik SPC, we are actively addressing these emerging market trends by offering adaptable design solutions, durable systems suited to outdoor environments, and internationally benchmarked infrastructure that supports both organised sports and recreational activities. Through this forward-looking approach, we aim to contribute to positioning the Sultanate as a regional destination for sports, wellness, and active living, while ensuring long-term value and accessibility for communities across Oman. How do you plan to expand your offerings or services in the future? Our future growth strategy is centered on establishing fully integrated designand-build capabilities for sports, fitness, and wellness infrastructure. We aim to evolve beyond specialist delivery into the full-fledged construction and development of sports facilities, offering a single, accountable partner from concept through completion and long-term operation. This expansion includes the development of large-scale sports complexes, integrated indoor and outdoor arenas, wellness facilities, spas, and holistic recreational developments. In parallel, we are actively advancing our capabilities in the design and construction of specialised sports infrastructure, such as racetracks and motorsport facilities, equestrian tracks and stables, cycling and endurance courses, and purposebuilt outdoor training venues. Recognising the growing importance of community-centric development, we also intend to play a leading role in the creation of public spaces, including

urban parks, open-air recreational zones, and multi-use community sports hubs that promote active lifestyles and social wellbeing. These initiatives directly support the objectives of Oman Vision 2040, particularly in enhancing quality of life, strengthening social infrastructure, and diversifying the national economy through sports and recreation. As the sports and fitness sector in Oman continues to mature, it is imperative that the focus shifts decisively toward innovation, quality, and long-term performance, rather than viewing price as the primary benchmark. Infrastructure of this nature directly impacts athlete safety, performance, and longevity, and therefore must be guided by value, reliability, and proven outcomes. We firmly believe that price can never be the defining measure for such specialised facilities; rather, it is the quality of systems, engineering integrity, and performance standards that will shape the future of Oman’s athletes. In this regard, we place strong emphasis on strategic partnerships with internationally certified organisations, ensuring that global research, testing, and innovation are effectively aligned with local conditions and production requirements. By adopting internationally validated technologies and adapting them to Oman’s climate and usage demands, we ensure that our facilities deliver measurable value, durability, and performance over their entire lifecycle. Our overarching objective is to deliver end-to-end solutions that seamlessly integrate design excellence, engineering rigor, construction expertise, and long-term operational support. Through this comprehensive and forward-looking approach, Firas Bin Fatik SPC aspires to be a trusted national partner in shaping sustainable, high-quality sports and wellness environments that enhance performance today and empower the athletes of tomorrow—serving both Oman’s present needs and its future ambitions.

COLUMN

DIVERSE OPPORTUNITIES Global investment reflections on 2026

s we contemplate the global investment outlook for 2026, it pays to remember that holistic asset allocation and broad diversification is the only free lunch on Wall Street. Asset allocation must serve life goals, not just financial returns. Key questions: - Purpose of wealth: lifestyle, philanthropy, legacy, or growth for future generations? - Spending needs: liquidity and cash flow requirements for expenses, projects, or businesses. - Time horizon: short-term needs vs. long-term wealth preservation. - Risk tolerance: psychological comfort with volatility, losses, and illiquidity. A private client should approach asset allocation as a personal roadmap that balances wealth preservation, liquidity, growth, and legacy. It is less about beating benchmarks and more about aligning capital with life goals, family values, and long-term stability. Wall Street runs on narratives and for 2026 some key market narratives are: US: AI infrastructure, energy, defense (but avoid over-concentration) Europe: Industrials, defense, energy transition beneficiaries Asia ex-China: India, Indonesia, Vietnam, Korea (tech + manufacturing)

Latin America and Frontier: Chile, Peru (copper), Mexico (near-shoring), select Africa 2026 is about breadth, not just US megacaps as rest of the world’s equity markets could well continue to outperform the great US stock market. Global growth is expected to remain reasonable in 2026, supported by ongoing fiscal and monetary accommodation in major economies. According to forecasts from institutions like Goldman Sachs, global GDP growth is projected near ~2.8 per cent with the United States outperforming the rest of the world. Many Wall Street strategists expect another year of positive returns for the S&P 500 in 2026—though with less momentum than the extraordinary gains of 2023–25. Median Wall Street forecast: S&P 500 around ~7,650 by yearend 2026. Some strategists see a more modest range closer to 7,200s, reflecting a slower, “normal” market year with 3–5 per cent growth. U.S. midterm elections, trade tensions (especially U.S.–China), and tariff developments remain nearterm catalysts for volatility. In 2026, Diversification remains key. Growth heavily concentrated in a few mega caps makes broader equity exposure (mid-cap, value, international) potentially more rewarding. Risk is a function not of what you own in a portfolio but how much per cent as part of total portfolio or total wealth you allocate to a country, stock or fund and its investment theme or investment drivers. While diversification is essential, it is frequently misunderstood and misapplied. In practice, many

Rainer Michael Preiss Partner & Portfolio Strategist at Das Family Office in Singapore

investors equate diversification with simply owning more assets, regardless of size, purpose, or understanding. This approach often leads to overdiversification, where portfolios become complex without becoming more resilient. Given the complexity and interconnected risks in 2026, broad holistic diversification flexible asset allocation, disciplined valuation sensitivity, and diversified exposure remain critical for investors navigating the year ahead. As investors look toward 2026, the challenge is no longer whether markets can grow, but where returns will come from and how risks are priced. After several years dominated by U.S. mega-cap equities and AI-driven optimism, portfolios face a more nuanced environment: elevated valuations, falling—but volatile—interest rates, rising geopolitical fragmentation, and widening dispersion across regions and asset classes. The central asset-allocation task for 2026 is balancing participation in continued growth with resilience against valuation and concentration risk. Even in 2026, diversification is the only free lunch on Wall Street and in global investment portfolios. Diversification is not about owning many assets; it is about owning the right assets in the right proportions, especially in 2026.

INTERVIEW

POWER INNOVATION

December 2025

SMN Power Holding has maintained a strong financial position despite market fluctuations. As the CFO, how have you steered the company’s financial strategy to ensure stability and sustainable growth in today’s evolving energy landscape? SMN Power Holding’s business model is based on back-to-back agreements with reliable counterparties and thus, there are number of key financial management aspects that need to be well managed and monitored closely. These include strong cashflow and working capital management, and receivables and payables accounts management. In addition, there are other important priorities and aspects of financial management and leadership that CFOs need to embrace in today’s complex business environment which include leading transformation efforts, improving finance metrics, insights and storytelling, evaluation or improving the finance functions’ strategy and design, leading change management efforts, and optimising costs. Further, the company is committed to its ESG role as reflected in the various Corporate Social Responsibilities (CSR) and human capital initiatives and projects. It is also important to mention that maintaining strong and professional relationships with stakeholders including shareholders and investors, employees, lenders, suppliers, regulators, and the wider community is key for successful management and leadership. The power sector in Oman is undergoing transformation driven by regulatory changes, technological advancements, and shifting demand

patterns. How is SMN Power Holding adapting its operational and financial models to stay competitive and future-ready? The company’s business model is based on strong and solid financial and operating model based on backto-back agreements with reliable counterparties which provide some mitigation against market fluctuations. In addition, keeping current on regulatory changes is key to ensuring that compliance with applicable law and regulations is maintained and kept at highest level. In relation to technological advancement, leading digital transformation is one of the key priorities for the CFOs to ensure technological advancements are leveraged to achieve business objectives. It is important to stress also that building and maintaining organisational flexibility is critical to facilitate adaptability to changes. Could you highlight some of the key financial or operational achievements that SMN Power Holding has recorded over the past year, and what internal initiatives have contributed to these milestones? One of the key achievements of SMN Power Holding is the successful conclusion of new terms for longterm agreements for the business in 2024. This milestone not only reflects the company’s diligent efforts and commitment but also underscores its unwavering dedication to longterm objectives and stability in its operations. Additionally, the company accomplished the successful closure of refinancing in 2024, marking another pivotal achievement that reinforces

its financial health and strategic positioning in a competitive market. With the global and regional push toward energy transition, how do you see the role of SMN Power Holding evolving, and what investments or strategic priorities are you focusing on to align with Oman’s long-term energy vision? SMN Power Holding aims to be a dependable supplier of water and electricity to the grid, actively contributing to energy transition initiatives and projects aligned with Oman’s long-term vision under Oman Vision 2040. The company is committed to playing a vital role in facilitating a smooth and effective transition to sustainable energy solutions, ensuring that the country meets its evolving energy needs while promoting sustainability and innovation. Looking ahead, what are the main challenges and opportunities you foresee for the power generation sector in Oman, and how is SMN Power positioned to capitalise on these opportunities under your leadership? One of the key opportunities is the potential for further longterm agreements extension in the future given the status of the plants and its assets which are very well maintained under the operation and maintenance programme by our reliable and experienced operator of the plants. The company has built up significant expertise in the power sector, which can be leveraged for future opportunities. In addition, the company is monitoring market developments for potential future opportunities.

One of the key achievements of SMN Power Holding is the successful conclusion of new terms for long-term agreements for the business in 2024. This milestone not only reflects the company’s diligent efforts and commitment but also underscores its unwavering dedication to long-term objectives and stability in its operations

COVER STORY - MOST TRUSTED BRANDS IN OMAN T MOS ANDS D BR E T S TRU

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AUTOMOTIVE (GENERAL)

REDEFINING MOBILITY CHOICES

December 2025

TOP BRANDS AND PREFERENCES

Value, reliability and affordability reshape Oman’s automotive landscape Oman’s automotive sector is undergoing a decisive shift as consumers reassess what matters most in their vehicle purchasing decisions. Changing economic conditions, heightened competition and evolving lifestyles are redefining demand, placing value, durability and cost efficiency at the centre of consumer choice. Price sensitivity has become a major influence, alongside growing interest in dependable vehicles with lower ownership costs. Supply-chain disruptions in recent years have also fuelled demand for secondhand cars, further intensifying competition. Against this backdrop, newer brands such as Jetour, and MG Motors have gained strong traction by offering well-equipped, reliable vehicles at competitive price points. The entry of BYD reflects a preference for eco friendly vehicles For established manufacturers, the message is clear: adaptability is no longer optional. Repositioning product portfolios, rethinking pricing strategies and aligning more closely with customer expectations will be critical to sustaining relevance in an increasingly dynamic market.

BYD Honda Hyundai Jetour Kia Mazda MG Nissan Subaru Toyota The top 10 listing is in alphabetical order of first name

Female

Male

Nissan

BYD Hyundai Jetour Nissan

Toyota

Honda Jetour Mazda

Omani

Expatriate

Honda

Kia

Jetour

Mazda

Nissan

Toyota

COVER STORY - MOST TRUSTED BRANDS IN OMAN T MOS ANDS D BR E T S TRU

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AUTOMOTIVE – PREMIUM

LUXURY IN TRANSITION

December 2025

TOP BRANDS AND PREFERENCES

Where heritage, performance and sustainability converge

Audi Bentley BMW Bugatti

The premium automotive segment in Oman continues to attract a discerning clientele that values engineering excellence, refined design and uncompromising performance. High-networth individuals seek more than mobility— they invest in brand legacy, exclusivity and an elevated ownership experience. Global luxury marques such as Audi, BMW, Land Rover, Lexus, Mercedes-Benz and Porsche remain dominant, reflecting their enduring appeal across demographics. Rolls-Royce stands out as an emblem of ultraluxury, reinforcing the segment’s aspirational character. These brands have earned trust through consistent performance, safety standards and customer satisfaction. As sustainability moves higher on the agenda, premium buyers are increasingly embracing electric and hybrid vehicles. Environmental awareness, coupled with evolving regulations, is ushering in a new era—one where luxury and responsibility coexist, reshaping the future of premium mobility.

Ferrari Land Rover Lexus Mercedes Benz Porsche Rolls Royce The top 10 listing is in alphabetical order of first name

Female

Male

Audi

Bentley

BMW

Ferrari

Land Rover

Mercedes Benz

Porsche

Omani

Expatriate

Bentley

Audi

BMW

Ferrari

Land Rover

Lexus

Mercedes Benz

COVER STORY - MOST TRUSTED BRANDS IN OMAN T MOS ANDS D BR E T S TRU

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BANKS

TRUST BUILT ON CONSISTENCY

December 2025

TOP BRANDS AND PREFERENCES

Innovation and transparency define Oman’s most trusted banks

Ahli Bank Al Izz Islamic Bank BankDhofar Bank Muscat

Oman’s banking sector remains a cornerstone of economic stability, supported by institutions that have consistently earned customer confidence. The banks featured in the Most Trusted Brands survey share a common commitment to transparency, reliability and service excellence.

Bank Nizwa

Clear communication, competitive offerings and customer-centric solutions distinguish these banks in a crowded marketplace. Beyond financial products, they focus on delivering seamless experiences that strengthen long-term relationships.

Sohar International Bank

A robust regulatory framework under the Central Bank of Oman (CBO) has played a vital role in reinforcing trust. By promoting financial stability, encouraging digital banking and expanding access to underserved communities, the CBO has fostered a resilient and inclusive financial ecosystem that benefits both institutions and customers alike.

Meethaq Islamic Bank National Bank of Oman Oman Arab Bank

Sohar Islamic Bank The top 10 listing is in alphabetical order of first name

Female

Male BankDhofar

Ahli Bank

Bank Muscat

BankDhofar

NBO

Bank Muscat

Oman Arab Bank

NBO

Sohar International Bank

Oman Arab Bank

Omani

Expatriate

Bank Muscat

NBO

Oman Arab Bank

BankDhofar

Bank Nizwa

Sohar International Bank

BankDhofar

Oman Arab Bank

COVER STORY - MOST TRUSTED BRANDS IN OMAN T MOS ANDS D BR E T S TRU

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BEVERAGES (GENERAL)

WINNING CONSUMER CONFIDENCE

December 2025

TOP BRANDS AND PREFERENCES

Insight-driven strategies shape trusted beverage brands

Al Marai Coca Cola Kinza Mazoon

In Oman’s competitive beverages market, trust is built through a deep understanding of consumer preferences and consistent delivery on quality. Brands that stand out have invested heavily in market intelligence, enabling them to anticipate trends and respond swiftly to changing tastes. Continuous market research, close monitoring of competitors and tailored product strategies allow leading brands to identify gaps and differentiate effectively. Innovation—across products, packaging and processes—has emerged as a defining factor in building brand strength. New entrants such as Suntop, Nescafe and Top Fruit reflect the evolving dynamics of the sector. Alongside innovation, sustainability and social responsibility are increasingly influencing purchasing decisions, reinforcing trust and securing long-term loyalty.

Mountain Dew Nescafé Pepsi Red Bull Suntop Top Fruit The top 10 listing is in alphabetical order of first name

Female

Male

Al Marai

Kinza

Mazoon

Pepsi

Suntop

Omani

Expatriate

Al Marai

Kinza

Coca Cola

Mazoon

Kinza

Pepsi

Mazoon

Suntop

Pepsi

COVER STORY - MOST TRUSTED BRANDS IN OMAN T MOS ANDS D BR E T S TRU

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CONSTRUCTION COMPANIES

GROWTH LED MOMENTUM

December 2025

TOP BRANDS AND PREFERENCES

Infrastructure investments signal renewed confidence in Oman’s construction sector Oman’s construction industry is regaining momentum, supported by a healthy mix of established players and emerging companies. Following a challenging period, the sector is benefitting from renewed investment and landmark developments such as Sultan Haitham City, The Sustainable City – Yiti and high-end residential projects. Market estimates indicate steady growth over the coming years, underscoring construction’s vital contribution to GDP and its multiplier effect across related industries. Real estate activity has also strengthened, driven by demographic trends and strategic economic initiatives. New entrants to the Most Trusted Brands list such as Exterran highlight a competitive landscape that continues to evolve alongside national development priorities.

Al Adrak Trading and Contracting Al Tasnim Enterprises Atlantic Construction Bahwan Engineering Company Exterran Galfar Engineering & Contracting Larsen & Toubro Sarooj Construction Company STRABAG Oman United Construction Development Company The top 10 listing is in alphabetical order of first name

Male

Female

Al Tasnim Enterprises

Atlantic Construction

Bahwan Engineering Company

Galfar Engineering & Contracting

Larsen & Toubro

Sarooj Construction Company

Omani

Expatriate

Al Tasnim Enterprises

Atlantic Construction

Galfar Engineering & Contracting

Bahwan Engineering Company

Larsen & Toubro

Galfar Engineering & Contracting

Sarooj Construction Company

Larsen & Toubro

COVER STORY - MOST TRUSTED BRANDS IN OMAN T MOS ANDS D BR E T S TRU

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CONSUMER ELECTRONICS (BRANDS)

TECHNOLOGY WITH TRUST

December 2025

TOP BRANDS AND PREFERENCES

Innovation driven leadership defines Oman’s electronics market

Apple Dell HP Huawei

Oman’s consumer electronics sector is expanding rapidly, fuelled by rising disposable incomes and a digitally savvy population. Demand for smartphones, laptops and smart home solutions continues to grow, with trusted global brands dominating the market.

LG Panasonic Samsung Sony

Companies such as Huawei and Lenovo have reinforced their positions by keeping pace with rapid technological change and responding to consumer expectations for performance, connectivity and sustainability. The rise of 5G, smart devices and streaming platforms reflects a market driven by younger, tech-native consumers.

Toshiba

Global brands continue to shape the sector, setting benchmarks in innovation and reliability while reinforcing their status as household names across the Sultanate. Xiaomi is a new entrant on the charts.

Apple

Xiaomi The top 10 listing is in alphabetical order of first name

Female

Male

Samsung

Apple Huawei LG Panasonic

Sony

Samsung

Huawei LG

Omani

Expatriate

Apple

Huawei

Samsung

Sony

COVER STORY - MOST TRUSTED BRANDS IN OMAN T MOS ANDS D BR E T S TRU

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COLLEGES & UNIVERSITIES

EDUCATING FOR A KNOWLEDGE ECONOMY

December 2025

TOP BRANDS AND PREFERENCES

Higher education institutions power Oman’s future workforce

German University of Technology Global College of Engineering Majan University College Middle East College

Higher education plays a central role in Oman’s long-term development strategy, supporting the transition toward a knowledge-based economy. Under the leadership of His Majesty Sultan Haitham bin Tarik, education remains a national priority aligned with Oman Vision 2040.

Modern College of Business and Science

Significant budget allocations underscore the Sultanate’s commitment to developing human capital and enhancing educational quality. Institutions recognised as Most Trusted are instrumental in equipping students with the skills and competencies required for an evolving labour market.

Sultan Qaboos University

By nurturing talent, fostering innovation and supporting research, these centres of excellence are helping to shape a resilient and future-ready workforce for Oman.

Muscat University National University of Science and Technology Sohar University

University of Technology and Applied Sciences The top 10 listing is in alphabetical order of first name

Male

Female

German University of Technology Majan University College Middle East College Sultan Qaboos University University of Technology and Applied Sciences

German University of Technology Majan University College Modern College of Business and Science Sultan Qaboos University University of Technology and Applied Sciences

Omani

Expatriate

German University of Technology Middle East College Modern College of Business and Science Sultan Qaboos University University of Technology and Applied Sciences

German University of Technology Majan University College Middle East College National University of Science and Technology Sultan Qaboos University

The top 10 listing is in alphabetical order of first name

COVER STORY - MOST TRUSTED BRANDS IN OMAN T MOS ANDS D BR E T S TRU

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ENERGY SECTOR

POWERING A SUSTAINABLE TOMORROW

December 2025

TOP BRANDS AND PREFERENCES

Energy leaders drive Oman’s net-zero ambitions

Abraj Energy Services Al Maha BP Oman Daleel Petroleum

Oman’s commitment to achieving net-zero emissions by 2050 marks a transformative chapter in its energy journey. Aligned with global climate goals, this vision reflects a strategic shift toward sustainability. Energy companies recognised in the Most Trusted Brands list are playing a pivotal role in this transition, investing in cleaner technologies and renewable energy solutions. Solar and wind resources position Oman as a strong contender in the emerging green hydrogen market. Beyond environmental impact, renewable energy investments are creating new economic opportunities, supporting job creation and reinforcing Oman’s position as a regional leader in sustainable energy development.

Oman LNG Oman Oil OQ OXY PDO Shell The top 10 listing is in alphabetical order of first name

Female

Male

Occidental

Oman LNG

Oman Oil

PDO

Omani

Expatriate

Occidental

Oman LNG

Oman Oil

PDO

PDO The top 10 listing is in alphabetical order of first name

COVER STORY - MOST TRUSTED BRANDS IN OMAN T MOS ANDS D BR E T S TRU

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GCC AIRLINES

RAISING THE BAR IN AVIATION

December 2025

TOP BRANDS AND PREFERENCES

Trusted GCC carriers redefine global travel standards

Air Arabia Emirates Etihad Airways Fly Dubai

GCC airlines have established themselves as global aviation leaders, recognised for service excellence, operational efficiency and strategic resilience. Operating in a highly competitive environment, these carriers continue to transform challenges into growth opportunities.

Gulf Air Kuwait Airways Oman Air Qatar Airways

Strong economic fundamentals and political stability have enabled sustained investment in infrastructure, fleet modernisation and customer experience. Oman’s aviation sector reflects this regional success story, with national carriers such as Oman Air and Salam Air placing customer-centricity at the heart of their strategies.

Salam Air

Aligned with Oman Vision 2040, these airlines are also supporting tourism growth and positioning the Sultanate as an attractive global , reinforcing their role as trusted ambassadors of the nation.

Emirates

Etihad Airways

Oman Air

Qatar Airways

Salam Air

Saudi Airlines The top 10 listing is in alphabetical order of first name

Male

Omani

Female

Expatriate

Emirates

Etihad Airways

Oman Air

Qatar Airways

Salam Air

Salam Air The top 10 listing is in alphabetical order of first name

COVER STORY - MOST TRUSTED BRANDS IN OMAN T MOS ANDS D BR E T S TRU

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HOTELS & RESORTS

PARADIGM SHIFT

December 2025

TOP BRANDS AND PREFERENCES

Oman’s hospitality sector is undergoing remarkable expansion with the introduction of several high-profile hotels, significantly enhancing its appeal to both business travellers and tourists Oman’s hotel and tourism sector continued its positive performance in 2025. Statistical data for the tourism sector showed a strong performance by the end of November 2025, with the number of guests in 3–5 star classified hotels increasing by 10.9 percent to 2,139,300 guests, compared to 1,929,495 guests during the same period in 2024. According to figures released by the National Centre for Statistics and Information (NCSI), the number of Omani guests rose by 7 percent to 791,286, while guests from Gulf Cooperation Council (GCC) countries increased by 7.4 percent to 195,825. In terms of revenues, classified hotel revenues rose by 21.4 percent, reaching approximately RO 257.9 million by the end of November 2025, compared to RO 212.4 million during the same period in 2024. The hotel occupancy rate also improved, rising to 55.4 percent, up from 48.6 percent a year earlier. In the competitive landscape of the hospitality industry, certain brands have successfully forged profound emotional connection with their guests. Alila Jabal Akhdar, Anantara Al Jabal Resort and St. Regis Al Mouj are additions to the list of trusted brands.

Al Bustan Palace - Ritz-Carlton Alila Jabal Akhdar Anantara Al Jabal Resort Crowne Plaza JW Marriott Kempinski Radisson Blu Shangri-La Barr Al Jissah St. Regis Al Mouj W Muscat The top 10 listing is in alphabetical order of first name

Male

Female

Al Bustan Palace - Ritz-Carlton

Crowne Plaza

Anantara Al Jabal Resort

JW Marriott

Shangri-La Barr Al Jissah

W Muscat

Omani

Expatriate

Al Bustan Palace - Ritz-Carlton

Anantara Al Jabal Resort

Crowne Plaza

JW Marriott

Radisson Blu

Shangri-La Barr Al Jissah

W Muscat

COVER STORY - MOST TRUSTED BRANDS IN OMAN T MOS ANDS D BR E T S TRU

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HYPERMARKETS / SUPERMARKETS

FUTURE FORWARD

December 2025

TOP BRANDS AND PREFERENCES

Oman’s retail industry is positioned for continued success, with forecasts indicating sustained annual growth exceeding 6 per cent between 2022 and 2026

Al Karama Hypermarket Al Meera HyperMax Lulu Makkah Hypermarket Nesto

Oman’s retail sector shows robust growth, driven by rising tourism, increased disposable income, and digital adoption, with projections for over 6 per cent annual growth through 2026, outpacing the GCC average, although physical stores still dominate spending, especially for lifestyle goods, while e-commerce rapidly expands, creating a strong hybrid market. Forecasts from Alpen Capital suggested over 6 per cent annual growth for Oman’s retail sector between 2022-2026, exceeding the GCC average. The Sultanate’s retail industry is undergoing a transition with competitive developments across offline and online channels driving the market dynamics, according to Alpen Capital, a regional investment banking advisory firm. The leading brands in the Hypermarkets & Supermarkets category are Al Karama Hypermarket, Al Meera, HyperMax, Lulu, Makkah Hypermarket, Nesto, Noor Shopping, Spar, Sultan Center, and Viva. Spar and Viva are additions to the list of trusted brands. Looking ahead, Oman’s retail industry is positioned for continued success, with forecasts indicating sustained annual growth exceeding 6 per cent between 2022 and 2026. This positive outlook suggests not only a healthy retail environment but also the potential for increased competition and innovation as brands strive to meet the evolving needs of consumers.

Noor Shopping Spar Sultan Center Viva The top 10 listing is in alphabetical order of first name

Female

Male

Nesto

Al Meera HyperMax Lulu Nesto

Sultan Center

Al Meera HyperMax Lulu

Omani

Expatriate

Al Meera

Al Karama Hypermarket

HyperMax

Lulu

Nesto

Sultan Center

Spar

COVER STORY - MOST TRUSTED BRANDS IN OMAN T MOS ANDS D BR E T S TRU

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INSURANCE COMPANIES

EMPOWERED GROWTH

December 2025

TOP BRANDS AND PREFERENCES

As strategic diversification continues, innovative insurance products will play a key role in fostering financial resilience Oman’s insurance sector experienced robust growth in 2025, with revenue rising by approximately 11 per cent in the first half of the year and a 13 per cent increase for listed companies over the first three quarters. This expansion was fueled by enhanced profitability, stricter underwriting practices, reduced service costs, and improved efficiency, allowing the sector to transition from a loss to a profit in the first half of the year. Key segments such as health and motor insurance performed particularly well, and ongoing growth is anticipated due to heightened awareness and demand for financial protection. Looking ahead, the market is expected to maintain its growth trajectory, partly due to rising awareness of the importance of long-term financial planning and protection. Emerging sectors, such as legal insurance—which includes coverage for cyber law and intellectual property— are also anticipated to grow as individuals and businesses become more conscious of legal risks. Furthermore, Oman’s efforts in economic diversification and the promotion of foreign investment are increasing the need for a wider range of insurance products. As the Sultanate accelerates its economic diversification journey under Oman Vision 2040, the insurance sector is poised to play a pivotal role in ensuring sustainable development, fostering financial inclusion, and supporting national resilience. Bima is a new addition to the list of trusted brands.

Al Madina Takaful Axa Insurance Bima Dhofar Insurance Liva Insurance Muscat Insurance Company New India Assurance Oman Qatar Insurance Oman United Insurance Takaful Oman The top 10 listing is in alphabetical order of first name

Male

Female

Oman Qatar Insurance

Axa Insurance Bima Dhofar Insurance Liva Insurance

Oman United Insurance

Oman Qatar Insurance

Omani

Expatriate

Al Madina Takaful Dhofar Insurance Liva Insurance

Al Madina Takaful

Axa Insurance

Dhofar Insurance

Liva Insurance

Oman Qatar Insurance

Oman United Insurance The top 10 listing is in alphabetical order of first name

COVER STORY - MOST TRUSTED BRANDS IN OMAN T MOS ANDS D BR E T S TRU

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MOST TRUSTED OMANI BRAND (MANUFACTURING)

VALUE ADDITION

December 2025

Recent growth in petrochemicals, food industries, and foreign trade underscores the manufacturing sector’s resilience and readiness for new markets Oman’s manufacturing sector plays a crucial role for the country’s economic diversification, reducing dependence on oil, enhancing local value, and generating employment. The manufacturing sector witnessed a significant improvement in its performance during the first half of this year, driven by strong growth in the petrochemical and electrical sectors. In the building materials and construction sector, the iron and aluminium industries continued to achieve positive results and steady growth, while cement companies began to show signs of improved performance and reduced losses. Tile and ceramic factories showed signs of recovery, while glass companies still face operational challenges. In terms of foreign trade, Omani non-oil exports grew by 7.2 percent during the period from January to May 2025, reaching RO2.7bn, reflecting the strength of Omani products in foreign markets. The United Arab Emirates topped the list of countries importing Omani products, with RO485mn, an increase of 22.9 percent, followed by the Kingdom of Saudi Arabia with RO45mn, an increase of 34.9 percent, and then the Republic of India with RO280mn, an increase of 38.9 percent. These results reflect the diversity of the trading partner base, underscoring the importance of activating trade promotion tools and enhancing the industrial sector’s readiness to enter new markets, particularly in Asia and Africa, which represent promising markets for Omani products. A’Safwah, Atyab Food Industries, and Nabil are new additions to the list of trusted brands.

TOP BRANDS AND PREFERENCES Al Mudhish Amouage Areej Vegetable Oils And Derivatives A'Safwah Atyab Food Industries Bahar Chips Oman Dahabi Mazoon Dairy NABIL The top 10 listing is in alphabetical order of first name

Female

Male

Al Mudhish Areej Vegetable Oils And Derivatives Chips Oman Dahabi Mazoon Dairy

Omani

Al Mudhish Amouage A'Safwah Chips Oman Mazoon Dairy

Expatriate

Areej Vegetable Oils And Derivatives Bahar Chips Oman Dahabi Mazoon Dairy

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MOST TRUSTED OMANI BRAND (CORPORATES)

RAPID STRIDES

December 2025

Impressive trading volumes and a strong banking sector underscore the thriving market environment and growing investor interest Total net profits of companies listed on the Muscat Stock Exchange (MSX) grew by 13 per cent year-onyear, reaching $2.9bn for the first nine months of 2025, compared with $2.5bn reported in the same period of 2024. For the first nine months of 2025, total net profits of the banking sector, the largest on the MSX by market capitalisation, rose 7.8 per cent to $1.1bn from $1bn in the same period last year. Total Q3 2025 earnings for the banking sector increased by 8.2 per cent to $376.2mn, up from $347.6mn in Q3 2024. The Muscat Stock Exchange (MSX) reported record trading volumes in 2025, exceeding RO5 billion, benefiting from the demand of local investment funds and institutions to buy. In addition, public shareholding companies listed on the exchange announced a number of positive transformations and improved financial performance that boosted buying. Trading value rose in 2025 to RO5.42bn compared to RO1.25bn in 2024 and RO1.13bn in 2023. Trading on the Muscat Stock Exchange in 2025 exceeded the trading value witnessed by the exchange in the past five years since 2020, which amounted to RO4.5bn. In 2025, the Muscat Stock Exchange witnessed an increase in the total number of traded securities, including stocks, bonds, sukuk, units and preferential rights, to 25.3 billion securities, compared to 6.5 billion securities in 2024. The market capitalization of securities listed on the Muscat Stock Exchange in 2025 recorded an increase of about 16 percent, exceeding RO32bn, compared to about RO27.6bn in 2024. Oman Oil and Salam Air are new additions to the list of trusted brands further highlighting the dynamism of the market.

TOP BRANDS AND PREFERENCES Awasr Bank Muscat Mubashir Mwasalat Oman Air Oman Oil Omantel OQ Otaxi Salam Air The top 10 listing is in alphabetical order of first name

Female

Male

Omantel

Bank Muscat Oman Air Oman Oil Omantel

Bank Muscat Mwasalat Oman Oil

Omani

Expatriate

Bank Muscat

Oman Air

Mwasalat

Oman Oil

Omantel

Salam Air The top 10 listing is in alphabetical order of first name

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PRIVATE HOSPITALS & CLINICS

EMPOWERED CARE

December 2025

With a focus on decentralization and technological advancements, the healthcare sector is striving to improve accessibility and quality of services nationwide Oman’s healthcare sector serves as a fundamental pillar of the country’s socio-economic growth, showcasing the government’s dedication to delivering high-quality medical services for its citizens and residents. In line with Oman Vision 2040, the sector focuses on decentralisation and adherence to international standards, with the goal of improving healthcare accessibility and quality throughout the Sultanate. The market is anticipated to generate revenue of $1.66bn in 2025, with a forecasted annual growth rate (CAGR) of 5.16 per cent from 2025 to 2029, ultimately reaching a market volume of $2.02bn by 2029. The sector is undergoing a strategic transformation driven by digital innovation, equitable policies, and long-term planning. The Ministry of Health’s implementation of the National Health Policy has set the stage for a redesign of healthcare aligned with Vision 2040, promoting sustainable, inclusive, and technology-driven service delivery across the Sultanate. Healthcare financing is being bolstered by significant infrastructure investments, including the establishment of new hospitals and diagnostic centres in the public sector. The private healthcare sector is expanding rapidly, currently accounting for 30-40 per cent of national health services, aided by mandated insurance reforms and platforms like Dhamani for efficient claims processing. The country is also investing in medical tourism, which is expected to create new opportunities for healthcare facilities. Lifeline Hospital and Starcare Hospital are new additions to the list of trusted brands.

TOP BRANDS AND PREFERENCES Apollo Hospital Aster Royal Al Raffah Hospital Badr Al Samaa Burjeel Hospital KIMS Hospital Lifeline Hospital Muscat Private Hospital NMC Specialty Hospital Oman International Hospital Starcare Hospital The top 10 listing is in alphabetical order of first name

Male

Female

Apollo Hospital

Aster Royal Al Raffah Hospital

Badr Al Samaa

Burjeel Hospital

NMC Specialty Hospital

Muscat Private Hospital

Omani

Expatriate

Apollo Hospital

Aster Royal Al Raffah Hospital

Badr Al Samaa

Burjeel Hospital

Muscat Private Hospital

NMC Specialty Hospital

COVER STORY - MOST TRUSTED BRANDS IN OMAN T MOS ANDS D BR E T S TRU

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POWER GENERATION COMPANIES

CHANGING DYNAMICS

December 2025

TOP BRANDS AND PREFERENCES

Oman’s power market is set to expand, increasing from 12.87 gigawatts in 2025 to 19.65 gigawatts by 2030, while advancing its renewable energy goals

ACWA Power Al Batinah Power Al Rusail Power Company Al Suwaidi Power Company Barka Water and Power Company Dhofar Generation Company

The Oman Power Market is projected to expand from an installed capacity of 12.87 gigawatts in 2025 to 19.65 gigawatts by 2030, reflecting a compound annual growth rate (CAGR) of 8.83 per cent during this period. Total electricity generation is expected to see a notable increase of 12.6 per cent by the end of May 2025, reaching 18,948.9 gigawatthours, up from 16,829.3 gigawatt-hours in the same timeframe in 2024, according to preliminary data from the National Centre for Statistics and Information (NCSI). Oman is making significant progress in its transition to renewable energy, aiming to produce at least 11.5 per cent of its electricity from sustainable sources. Future projects include the Ibri 2 solar power plant (500 MW), set to launch in 2026, and the larger Ibri III project, which will integrate a 100 MWh battery system to support grid stability. Additionally, new wind initiatives in Mahout, Duqm, and Sadah are planned, with a total potential capacity exceeding 1,000 MW. ACWA Power, Dhofar Generation Company and Phoenix Power Company are additions to the list from the previous survey.

Phoenix Power Company Sembcorp Salalah SMN Barka Sohar Power Company The top 10 listing is in alphabetical order of first name

Female

Male Al Rusail Power Company

Phoenix Power Company Sembcorp Salalah SMN Barka Sohar Power Company

Omani Al Rusail Power Company Barka Water and Power Company Phoenix Power Company Sembcorp Salalah SMN Barka

Al Rusail Power Company Barka Water and Power Company Phoenix Power Company SMN Barka Sohar Power Company

Expatriate Al Batinah Power

Phoenix Power Company Sembcorp Salalah SMN Barka Sohar Power Company

COVER STORY - MOST TRUSTED BRANDS IN OMAN T MOS ANDS D BR E T S TRU

REAL ESTATE DEVELOPERS AND FACILITIES MANAGEMENT

URBAN EVOLUTION

December 2025

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TOP BRANDS AND PREFERENCES

Oman’s infrastructure sector is set to grow fueled by major urban developments and strategic investments Oman’s infrastructure sector is undergoing a robust revival, establishing itself as a key player in the country’s overall economic transformation. The market is expected to grow substantially, with projections indicating an increase from RO3.81bn in 2025 to RO4.40bn by 2029, representing a compound annual growth rate (CAGR) of 2.8 per cent. Key urban development projects, such as Sultan Haitham City and Madinat Al Irfan, are driving this growth. These initiatives are supported by the strategic development of Special Economic Zones (SEZs) in significant locations like Duqm, Sohar, and Salalah, which are attracting considerable foreign and local investments, especially in the industrial and logistics sectors. Additionally, construction related to tourism, particularly Integrated Tourism Complexes (ITCs), is identified as a major growth opportunity. Oman aims to add 5,800 hotel rooms and provide 62,800 new residential units by 2030, enhancing its tourism infrastructure and accommodating anticipated population growth. Al Naba Services, Maysan Properties, Muriya Tourism, Muscat Bay Real Estate Development, and Oman International Group are new additions to the list of trusted brands.

Al Habib Al Naba Services Al Osool Group Maysan Properties Muriya Tourism Muscat Bay Real Estate Development Oman International Group Savills Tibiaan Properties Wujha Real Estate The top 10 listing is in alphabetical order of first name

Male Al Habib Al Osool Group Dar Global Real Estate Tibiaan Properties Wujha Real Estate

Omani Al Habib Maysan Properties Muriya Muscat Bay Real Estate Development Tibiaan Properties

Female

Al Habib Al Osool Group Maysan Properties Muriya Muscat Bay Real Estate Development

Expatriate Al Habib Al Osool Group Dar Global Real Estate Tibiaan Properties Wujha Real Estate

COVER STORY - MOST TRUSTED BRANDS IN OMAN T MOS ANDS D BR E T S TRU

IN OM

WATCHES & JEWELLERS

ELEGANT TRENDS

December 2025

TOP BRANDS AND PREFERENCES

Oman’s Watches & Jewellery market is poised for strong growth, fueled by expanding retail and increasing e-commerce engagement. Oman’s Watches & Jewellery market is flourishing, blending traditional artistry with contemporary elegance to serve both local and international customers. With an expected annual growth rate of 5.48 per cent (CAGR from 2024 to 2029), the market is poised for sustainable expansion driven by increasing consumer demand for luxury items. Retailers are responding to this demand by broadening their presence across the country. New boutiques are emerging in key urban centres such as Muscat, Salalah, and Sohar, significantly enhancing accessibility for consumers. This retail expansion not only provides more options for buyers but also fosters healthy competition among both local artisans and international luxury brands, creating a dynamic marketplace. Further, the rise of e-commerce is transforming the shopping experience in the Watches & Jewellery sector. Online retail platforms are gaining traction, enabling consumers to explore a diverse range of products and styles from the comfort of their homes. Seiko and TAG Heuer are new additions to the list of trusted brands.

Cartier Casio Hilia Malabar Jewellery Omega Rado Rolex Seiko TAG Heuer Tissot The top 10 listing is in alphabetical order of first name

Female

Male

Rolex

Cartier Damas Hilia Malabar Jewellery

Tissot

Rolex

Cartier Casio Rado

Omani

Expatriate

Cartier

Omega

Casio

Rado

Malabar Jewellery

Rolex

Rado

TAG Heuer

Rolex

COVER STORY - MOST TRUSTED BRANDS IN OMAN T MOS ANDS D BR E T S TRU

IN OM

OER’s ‘Most Trusted Brands in Oman 2025,’ survey is an attempt to track the strength of brands’ relationships with their consumers. Oman Economic Review intends to understand the dynamic market environment with questions on business activities and their impact on brands, both Omani and multinational, and the recall that brands enjoy in an increasingly cluttered mind space of consumers. The study was conducted among a cross section of employees working in Oman, who were randomly selected. They were classified into two categories namely Top Management (TM) and executives’ choice. The top management category includes CEOs, managing directors, general managers, chief financial officers, chief operating officers, owners and other senior executives. The executive choice category contained mid-level employees and other executives from diverse sectors. Sample Size = 500 (Top Management = 100; Executive = 400) Tabulation The survey was conducted by Arabian Research Bureau (ARB) on behalf of Oman Economic Review in October-November 2025.

The following are further breakdown of respondents surveryed:

Segment

Total

Omani

Expatriate

Male

Female

Total

500

250

354

146

Note: The top 10 brands in each category is based on per cent calculated. The top 10 higher percent of brands are listed with each category. The top 10 brands are listed in alphabetical order with their name instead of their ranking and score. The top 5 brands for each category are based on percent derived in the Omani Vs Expatriate and Male Vs Female segments. In the same way, instead of the ranking and score, the top 5 brands are listed in alphabetical order with their names. The field management, quality control, data analysis, and report preparation components of the study were handled by the following ARB staff: - Mohammad Kamal Ahmad, Senior Manager - Hadil Al Nabhani, Research Executive - Shahla Al Riyami, Operations Coordinator - Aasir Ahmed, Operations Head

December 2025

ENERGY

GROWTH POTENTIAL Energy Development Oman achieves investment grade rating from Fitch Ratings

nergy Development Oman (EDO) has been upgraded by Fitch Ratings to BBB- with a stable outlook, following the recent upgrade of the Sultanate of Oman’s sovereign credit rating to BBB-. Fitch affirmed EDO’s Standalone Credit Profile at bbb+, citing the company’s large-scale oil and gas operations, resilient cash flow generation as a result of contracted gas sales in addition to its flexible royalty framework, prudent dividend policy, and low leverage. With the Fitch upgrade, EDO has now secured investment grade ratings from both Fitch Ratings and S&P Global Ratings, following S&P’s upgrade to BBB- in September 2024. This milestone reflects EDO’s positive business trajectory and the strength of its financial profile. The investment

grade status will broaden the company’s investor base and supports access to more competitive financing, reinforcing its capacity to fund operations and future growth while contributing to Oman’s energy-sector development objectives. Commenting on the rating, Sultan al Mamari, EDO’s Chief Financial Officer said, “We are delighted to have achieved Investment Grade status from two leading international rating agencies. This will enhance our access to competitive capital markets financing and our attractiveness as an industrial partner. We view the

upgrade from Fitch Ratings as a strong endorsement of Oman’s and EDO’s sustained financial and business discipline, and future prospects.” Since its establishment, EDO has become a key driver in shaping a more resilient and commercially sustainable energy sector in Oman. Through consistent delivery, disciplined investment, and closer integration across the energy value chain, the company has contributed to safeguarding production, strengthening energy security, and ensuring the sector continues to generate long-term value for the Sultanate.

FACE 2 FACE

LEGACY AND INNOVATION The rebranding of Trade Links & Services (TLS) marks a strategic transformation that goes beyond a visual update, reflecting the company’s evolution into a future-focused, multi-vertical solutions partner dedicated to sustainability, innovation and digital advancement, says CEO, Wael Chehade in an interview with Oommen John How would you describe TLS’s journey from its origins at CIVILCO to the company it is today? Our journey began in 1974 with Civil Contracting Company (CIVILCO), which established the foundation for technical excellence in contracting and infrastructure. Trade Links & Services (TLS) was formally established in 1987 as a dedicated trading and solutions arm. Since inception, the company has been built on strong values such as quality, trust, reliability, and long-term relationships. Over the years, we have consciously evolved from a traditional trading company into an integrated, multidivision solutions provider, effectively addressing complex needs across various sectors. As we catered to medium and large-scale projects, Trade Links received commendable ratings in the energy sector, making us a trusted partner for both public and private sectors in power-related projects. As we progressed, we recognised the need to expand our solutions beyond electrical projects. We now position ourselves as a one-stop shop for home and office solutions, integrating mechanical and civil engineering aspects. Today, TLS embodies a blend of legacy and innovation, merging decades of industry trust with modern capabilities and forward-thinking strategies. Our evolution reflects Oman’s own development journey and is closely aligned with Oman Vision 2040, particularly in terms of strengthening infrastructure, diversifying the economy, and fostering sustainable growth. 52

December 2025

TLS recently underwent a rebranding exercise. What does this new identity represent in terms of the company’s direction and future vision? The rebranding of TLS symbolises a strategic transformation that goes beyond a mere visual update; it reflects our significant evolution over the years. This new identity represents our shift toward becoming a future-focused, multi-

vertical solutions partner, aligned with principles of sustainability, innovation, and digital advancement. It underscores our commitment to energy transition, green solutions, and smart technologies, which are essential pillars of Oman Vision 2040. This rebranding signals our readiness to compete on both regional and global stages while remaining firmly rooted in Oman. Most importantly,

it communicates that TLS is no longer just a trading company; we have transitioned into a solutions, services, and infrastructure enabler contributing to the nation’s long-term ambitions. What will be TLS’s key focus areas over the coming years, and what is the thinking behind these priorities? We have developed a clear three-year strategic roadmap centered around five key pillars: Renewable Energy & Infrastructure, Smart Solutions & IT, Trade & Retail Innovation, expansion of our Service Division, and geographic expansion. These pillars are crafted to address both national priorities and global economic shifts, especially concerning clean energy and digital transformation. A significant focus will be placed on renewable energy, green hydrogen, and sustainable infrastructure, all of which are vital elements of Oman Vision 2040. Our strategy aims to support emerging economic sectors while also strengthening existing ones. This approach allows TLS to create diversified, resilient, and future-ready revenue streams that align with the country’s long-term vision. Renewable energy and infrastructure are central to TLS’s strategy. How is TLS positioned to support the country’s energy transition? TLS has successfully delivered till date over 300 projects across Oman, encompassing substations, power transmission, renewable energy systems, and significant infrastructure work. As a proven EPC service provider, we offer comprehensive solutions that cover everything from design and engineering to supply, installation, testing, and commissioning. This extensive experience positions us well to support Oman’s goals of enhancing grid resilience, improving energy efficiency, and facilitating clean energy integration. Among the notable ongoing projects in Oman include a 75-kilometer overhead line and accompanying substations, scheduled for completion in Q1 2026. Other achievements include the

successful execution of FCR stations designed to stabilise high voltage fluctuations, significantly reducing outages and equipment damage, installing fault current limiter (FCL) in two 132kv system for OETC in Muscat governorate, enhancing grid safety and reliability. We are actively preparing to take on a key role in large-scale renewable and green hydrogen projects in Duqm and other parts, which are essential for the nation’s future energy mix. Supported by strong global partnerships and technical expertise, we view ourselves as a long-term enabler of Oman’s energy transformation. In a competitive and evolving market, what truly sets TLS apart from others in the industry? What sets TLS apart is our 40-year legacy and unwavering commitment to quality and trust, coupled with continuous innovation. Unlike many companies, we utilise an integrated business model that combines Products, Solutions, Services, and Infrastructure, providing end-to-end support to our clients. We draw on deep local market knowledge while adhering to international standards, technologies, and partnerships. Being family-founded and professionally managed gives us a strong sense of values alongside a sharp focus on performance and governance. Over all, we are recognised for our agility, reliability, and capacity to deliver even in complex and challenging environments. We aim to adapt to the changing market demands, offering robust, future-oriented solutions. How does TLS contribute to Oman’s economic and social development? TLS is dedicated to creating sustainable value for the country by generating employment and nurturing local talent. We actively support Omanisation by training and developing Omani professionals in both technical and managerial roles. Sustainability is a core value in our strategy. We have initiated relationships with local universities to foster talent and ensure our workforce aligns with our growth. The partnership demonstrates

TLS’s commitment to bridging the gap between academic learning and industry practice. Partnering with leading institutions like UTAS enables us to shape graduates who are not only technically competent but also ready to contribute to Oman’s economic growth. Through our projects, we enhance the nation’s energy, infrastructure, and operational resilience, which are essential for long-term growth. Additionally, we support local SMEs, service providers, and supply chains, helping to stimulate broader economic activity. Our overall strategy is closely aligned with the diversification goals of Oman Vision 2040, fostering future industries and promoting sustainable development. As the CEO, what is your long-term vision for TLS? My vision is to position TLS as a regional leader in sustainable and integrated solutions, particularly in the areas of energy, infrastructure, and services. Essentially, I want TLS to be recognised as the partner of choice for governments, large enterprises, and international investors. We aspire to build a brand that embodies innovation, trust, reliability, and a positive impact. A key focus will be on creating a future-proof organisation that is resilient, technologically advanced, and driven by talented individuals. Looking toward 2026 and beyond, our focus will not remain solely on the energy sector. This includes exploring renewable energy sources such as solar and green hydrogen, while we also complete projects in waste-to-energy conversion. We have also started catering management, facilities management, and in 2026, we are launching a logistics arm. Ultimately, my vision is for TLS to grow in a manner that aligns with Oman Vision 2040, creating long-term value and leaving a meaningful legacy for future generations. As we move towards a sustainable and innovative future, our strategic focus on quality, collaboration, and the integration of new technologies will drive our growth and community contributions.

EVENT - AI SECURITY CONFERENCE

DIGITAL RESILIENCE Oman AI Security Conference 2025 powered by Securado highlighted the changing cybersecurity landscape

December 2025

he first of its kind Oman AI Security Conference (AISEC 2025) powered by Securado was organised on December 23, 2025. The premier forum dedicated to AI Security and Digital Resilience brought together policymakers, industry leaders, technologists, and security professionals to shape the future of secure AI adoption. His Excellency Saeed bin Hamoud Al Maawali, Minister of Transport, Communications and Information Technology was the Chief Guest of the conference. The event was hosted under the auspices of His Excellency Shaikh Salim bin Mustahail Al

Mashani. His Excellency Saeed bin Hamoud Al Mawali, Minister of Transport, Communications and Information Technology unveiled ‘Securado Post’ a special commemorative publication on the AI Security sector in Oman. In his keynote address Eng. Said Al Mandhari, CEO, ITHCA Group said, “AI Security is not anymore the security of infrastructure. It is the trust of data models and all this comes with trusted, talented and accountable people to serve the purpose. Governments have to invest in talents who will make the difference in how AI security can be

achieved. This is sovereignty and it requires good investment in people.’ Speaking about the conference Krishnadas KT, co-founder and CEO of Securado said, “AISEC 2025 stands as Oman’s premier executive forum dedicated to propelling the national agenda for Artificial Intelligence and Cybersecurity. Through this conference and innovations like Digital Vaccine, Securado proudly leads the national dialogue on AIdriven, quantum ready cybersecurity – protecting data, enabling trust and securing the future of Oman’s digital economy.”

EVENT - AI SECURITY CONFERENCE

The conference saw presentations from a cross section of industry leaders and Cybersecurity experts. It also featured a fireside chat titled, ‘The Changing Threat Landscape: AI Risks & Opportunities,’ and panel discussions on ‘Reimagining Tomorrow – C-Suite Strategies for AI-Powered Transformation’

December 2025

and ‘Protecting Critical National Infrastructure.’ AISEC 2025 was supported by a number of organisations and companies. The ITHCA Group; Oman Chamber of Commerce & Industry, Oman IT Society were the endorsing partners.

Paloalto Networks; Splunk – A Cisco company; Thales; WSO2 and Open Text were the Platinum Partners of the event. Nutanix; Fortra; Darktrace and Octopus Cybersecurity were the Gold Partners. StarLink; Redington; Techlor Information Technology and Gulf IT were the Channel Partners.

BILLBOARD Alizz Islamic Bank publishes its recent Sustainability Report Alizz Islamic Bank has announced the publication of its second Sustainability Report for the year 2024, underscoring the Bank’s continued commitment to environmental, social, and governance (ESG) principles and its alignment with the United Nations Sustainable Development Goals (UN SDGs). The report highlights Alizz Islamic Bank’s progress in embedding sustainability across its business strategy, operations and governance framework. Aligned with international & regional standards, the report underscores the Bank’s significant role in advancing national initiatives, particularly Oman Vision 2040 and global frameworks such as the United Nations Sustainable Development Goals. The bank’s ESG vision and mission is centred on building a sustainable future through responsible banking practices. It aspires to lead the industry by offering innovative solutions that promote robust governance, social well-being, and environmental sustainability, ensuring efforts benefiting both customers and the broader community. Through responsible and ethical financing, environmental stewardship, financial awareness and financial inclusion, employee development and community engagement initiatives, the Bank continues to support sustainable economic growth while delivering positive impact. Speaking about the issuance of the report, Lina Al Abdulsalaam, Head of Marketing & Communications said, “At Alizz Islamic Bank, sustainability is an ongoing responsibility and issuing reports allow

Oman Arab Bank honours Mohammed Al Zubair Oman Arab Bank hosted a special ceremony honouring former Minister Mohammed Al Zubair, in recognition of his selection as the Cultural Personality of the Kuwait International Book Fair 2025. The event brought together CEO’s, intellectuals, and invited guests to celebrate a distinguished journey marked by thought leadership, cultural advocacy, and meaningful contributions to the Arab intellectual landscape. The ceremony reflected a shared belief in the power of culture as a catalyst for dialogue, understanding, and societal progress. Mohammed Al Zubair is widely respected for his sustained engagement in cultural, literary, and intellectual initiatives at both national and regional levels. His influence extends beyond individual achievements, representing a broader commitment to promoting knowledge, fostering cross cultural exchange, and strengthening the role of culture in public life. Speaking on the occasion, Sulaiman Al Harthi, CEO, Oman Arab Bank, said, “Honouring Mohammed Al Zubair is a tribute to a lifetime dedicated to 58

December 2025

us to remain transparent and accountable to our stakeholders, while actively tracking progress against our commitments. It also enables us to respond proactively to emerging risks, regulatory development and ensure a positive impact in society. We believe that responsible banking is embedded with the Islamic sharia principles which provides us with a solid framework that aligns our financial solutions with ethical, social and environmental responsibility that strongly mirrors ESG practices. Alizz Islamic Bank’s Sustainability Report is available on the Bank’s official website, providing stakeholders with comprehensive insights into its ESG performance, priorities, and future commitments.

culture, ideas, and dialogue. His journey reflects the values we deeply believe in at Oman Arab Bank, where culture and knowledge are seen as essential pillars for sustainable development and societal enrichment. At Oman Arab Bank, we view our role as extending beyond financial services. Supporting intellectual achievement and celebrating cultural leadership are integral to our commitment to the community and to the future we aspire to help shape.” The event reaffirmed Oman Arab Bank’s ongoing dedication to supporting cultural initiatives and recognizing individuals whose contributions leave a lasting impact on society. By creating platforms that celebrate thought leadership and intellectual excellence, the Bank continues to strengthen its engagement with the cultural sector and the wider community. The event concluded with a renewed appreciation for the enduring value of culture and the individuals who dedicate their lives to advancing it, reinforcing the belief that knowledge remains a cornerstone of progress.

OOMCO concludes its annual Health, Safety, Environment and Quality Week Oman Oil Marketing Company recently concluded its annual Health, Safety, Environment, and Quality Week through a dynamic program of interactive activities aimed at strengthening health, safety, environmental, and quality awareness across the company and its partner network. The week commenced with the annual forum for contractors executing company projects. The forum served as a key platform for engagement with contractors and partners from across the Sultanate of Oman, enabling alignment on safety expectations, compliance requirements, and best practices. This collaborative approach reinforced the shared responsibility to uphold the highest standards of health, safety, environment, and quality across all operations. The initiative featured a wide range of activities that brought together employees, service providers, and key stakeholders, with the objective of raising safety awareness and embedding a culture of shared responsibility throughout the organization. The program reflected Oman Oil Marketing Company’s ongoing commitment to safe and sustainable operations, placing people at the heart of all activities. As part of its commitment to employee and community wellbeing, the company organised a blood donation campaign

in coordination with the Central Blood Bank. The initiative saw strong participation from employees in support of national healthcare needs and embodied the company’s strong culture of social responsibility. Health and safety remained a central theme throughout the week, with employees benefiting from onsite medical checkups conducted by healthcare professionals. In addition, a dedicated health and safety session for female employees focused on psychological resilience, work related stress management, and general health, within an open and supportive environment. Commenting on the successful conclusion of the week, Tarik bin Muhammad Al-Junaidi CEO, Oman Oil Marketing Company (OOMCO) said, “Safety is a daily practice embedded in our sites, teams, and partnerships. Health, Safety, Environment, and Quality Week reinforces that caring for our employees, listening to them, and supporting their wellbeing are fundamental to how we operate and grow as a company.” The success of Health, Safety, Environment, and Quality Week further reinforces Oman Oil Marketing Company’s commitment to integrating safety, quality, and wellbeing into everyday operations. By combining awareness and learning, the company continues to strengthen its position as a responsible organisation dedicated to protecting its employees, partners, and the communities it serves.

#MYWORKSPACE: Khimji Ramdas introduces a new identity for its Office Furniture and Interior Fit-outs Division As one of Oman’s most established and diversified business conglomerates, Khimji Ramdas continues to strengthen its legacy of quality and service excellence with the launch of #MYWORKSPACE, a refreshed identity for its Office Furniture and Interior Fit-outs Division. This new chapter reflects the company’s commitment to redefining how workplaces are conceived, furnished, and experienced—creating environments that balance form and function to support the ambitions of today’s enterprises. Commenting on the launch, Hitesh Akarte-COO KR Infrastructure Cluster said, “#MYWORKSPACE represents the evolution of how we perceive the spaces in which we work; it embodies a philosophy that design can elevate purpose and enhance performance. Every space tells a story, and through this transformation, we aim to translate functionality into feeling and structure into inspiration. Over the years, we have witnessed how thoughtfully designed environments enable people to think clearly, collaborate meaningfully, and perform at their best. Our goal is to reimagine the modern workspace as a humancentered environment that nurtures both creativity and success.” Anand Monis-HOD, KR interior fit outs and office furniture stated, “#MYWORKSPACE is devoted to creating workplaces that adapt to people rather than the other way around, blending aesthetics, comfort, and efficiency into a single, cohesive experience. He further added, “#MYWORKSPACE portfolio represents more than a collection of

furniture—it is a design language that stands for refinement, purpose, and comfort. From contemporary workstations and executive desks to collaborative lounges, reception counters, and ergonomic seating, every element is created with intent—to harmonize aesthetics with performance. The product line celebrates craftsmanship and timeless appeal, offering a balance of durability and style.” Samir Kale, Divisional Manager-KR interior fit outs and office furniture stated “The name says it all —# MYWorkspace is where ideas take shape and performance thrives. At #MYWORKSPACE, we do not just prepare office spaces, we are on a mission to redefine how people think about office furniture. We are all about providing office solutions that not only looks great but transforms your workspace into a ready-to-use environment designed for better performance, higher productivity, and a unique identity.”

BILLBOARD Oman Air to bring up to 7,000 more tourists directly to Dhofar with new Fun & Sun partnership Oman Air has entered into an exciting new partnership with leading tour operator Fun & Sun to operate a series of charter flights connecting Moscow and Salalah. The programme is expected to bring approximately 7,000 additional visitors to Salalah in its first season, further supporting the development of domestic tourism and contributing to increased economic activity in Dhofar. It is anticipated that strong demand will pave the way for the charter programme to be extended year-round. Fun & Sun is an established and high-volume travel operator, and the collaboration builds on growing interest in Oman from the Russian market. Alongside the new charter operations, Oman Air continues to operate its scheduled service between Muscat and Moscow with up to nine flights per week, providing year-round connectivity for business and leisure travellers. “We are pleased to partner with Fun & Sun, expanding access to Salalah from one of our fastest growing international markets. The charter programme complements our scheduled Muscat-Moscow service and highlights the appeal of Dhofar beyond the Khareef season,” said Mike Rutter, Chief Commercial Officer of Oman Air. “By focusing on point-to-point growth, we have been able to increase the number of passengers flying to and staying in Oman by over 50% since the beginning of our transformation. Over the next five years, this change is expected to benefit Oman’s economy by up to RO90mn per year in additional in-country spend. The expansion of direct flights from Europe to Salalah is another example of Oman Air’s

commitment to delivering on Oman’s 2040 Vision agenda for tourism and increased GDP contribution from the aviation sector,” he added. “We are thrilled to launch this partnership and are confident that Dhofar’s unique appeal will quickly make it a favourite destination for Russian travellers,” said Yaroslav Stepanyuk, Commercial Director at Fun & Sun. The seasonal charter flights between Moscow and Salalah will operate between December 26, 2025 and May 9, 2026. Meanwhile, the airline, which flew more than 200,000 guests into Salalah during Khareef’s peak period alone - a 15 per cent increase over 2024 - continues to work closely with the Ministry of Heritage and Tourism and Dhofar Municipality to promote the destination and support sustainable growth in domestic and inbound tourism.

Thawani Pay secures Visa license to issue credit cards In a landmark achievement for Oman’s fintech sector, Thawani Pay has officially become the first fintech company in the Sultanate licensed by Visa to issue credit cards, marking a new era in the nation’s digital financial evolution. The milestone was celebrated at an exclusive signing ceremony held in Muscat, attended by senior representatives from Visa and Thawani Pay. The event highlighted Thawani Pay’s commitment to innovation and financial inclusion as it continues to redefine digital payment solutions in Oman. Through this licensing, Thawani Pay will soon introduce a new line of Visa-powered credit cards, providing customers with a seamless digital experience, global acceptance, and enhanced security features—fully integrated within Thawani’s smart payment platform. Speaking on the occasion, Majid Al Amri, CEO of Thawani Pay, stated, “This milestone represents a defining moment for Thawani Pay and for Oman’s fintech journey. Being licensed by Visa to issue credit cards not only positions Thawani Pay as a trusted player in the region’s digital payments landscape but also reflects our strategic vision to make financial services simpler, smarter, and more accessible. Our goal has always been to bridge innovation with inclusion—empowering individuals and businesses with digital solutions that enhance everyday life. We are proud to lead this transformation and to collaborate with Visa in shaping a future where Oman stands at the forefront of financial technology.” Nasser Bdeir, Visa’s Country Manager for Oman, commented, “Thawani Pay’s milestone marks an exciting step forward for Oman’s fintech landscape. It reflects the country’s growing appetite for digitalfirst solutions and the strength of local innovation. At Visa, we’re proud to be an enabler of that momentum by helping expand access to secure, reliable, and seamless digital payments across the region.” The event also showcased the shared 60

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commitment between Thawani Pay and Visa to promote digital literacy, financial inclusion, and consumer empowerment through technology-led initiatives. The soon-to-be-launched Visa credit cards will provide users with comprehensive digital onboarding experience, allowing them to apply, manage, and monitor their credit activity seamlessly through Thawani’s mobile platform. With this milestone, Thawani Pay reinforces its position as a leading Omani fintech innovator, consistently delivering solutions that align with the Oman Vision 2040 for economic diversification and technological advancement. The company’s continued collaboration with global partners such as Visa highlights its role in shaping the future of payments—where convenience, trust, and innovation converge.

ENERGY TRANSFORMED

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