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BUSINESS NEWS

Al Maha Ceramics sees gas price hike impacting profits next year

Arvind Bindra
Muscat - 

Al Maha Ceramics on Tuesday said it has been notified by the Public Establishment for Industrial Estates (PEIE) about a hike in the price of natural gas, which it said may result in a nearly five per cent cut in profits next year.

MSM30 declines 1.6% on sell-off by foreign institutions

Muscat - 

Selling pressure in the Muscat Securities Market (MSM) continued for a second day as the benchmark index fell 1.63 per cent to close at 6,936.88. 

Telco shares slip on higher royalty recommendation

Omantel and Ooredoo accounted for 61% of total market turnover, pushing the MSM30 down 1.22% on Monday
Muscat - 

Shares of Omantel and Ooredoo plummeted sharply on Monday on a report that the Majlis A'Shura has recommended an increase in royalty paid by the telecom companies to 12 per cent, from the current seven per cent, of revenue in the draft state budget for 2015.

MSM30 loses over 1%; turnover soars 100%

Muscat - 

The benchmark MSM30 index closed 1.22 per cent lower to end Monday’s session at 7,051.70.

Sezad signs usufruct deal for Duqm Refinery

Eng Isam al Zadjali and H E Yahya al Jabri sign the agreement on Monday
Muscat - 

Duqm Special Economic Zone Authority (Sezad) has signed a preliminary usufruct agreement with Duqm Refinery and Petrochemicals Industries Co (DRPIC). 

Oman Air names managers for Philippines and Indonesia

Oman Air names managers for Philippines and Indonesia

Muscat - 

Oman Air has appointed new country managers for each of the two new destinations it will be flying to from December 2014.

Oman Society of Contractors chairman Dr Hamad al Dhahab speaking at the Contractors Conference on Sunday (Muscat Daily)

OSC meet stresses need to reclassify contracting jobs

Muscat - 

An Oman Society of Contractors (OSC) conference on Sunday highlighted the need for re-classification of construction sector jobs to ensure that only genuine firms are classified as contracting companies. 

The Banker Middle East awards recognise quality and excellence in financial products and services in the region

StanChart bags ‘Best SME Customer Service’ award

Muscat - 

Standard Chartered Oman was named the 'Best SME Customer Service' at the Banker Middle East Product Awards 2014. 

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