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BUSINESS NEWS

Al Maha to list on November 3

Muscat - 

Oman Arab Bank's Investment Management Group said it has worked diligently with Muscat Clearing and Depository Co (MCD), Capital Markets Authority (CMA) and Muscat Securities Market to ensure listing of Al Maha Ceramics shares on November 3, in compliance with the proposed listing date stated in the prospectus.

MSM closes flat; Industrial index adds 0.34%

Muscat - 

The MSM30 index consolidated on Wednesday, inching down 0.03 per cent at 6,979.23, on turnover of RO13.44mn and volumes of 37.25mn.

H E Sunaidi invites Indian businesses to explore opportunities in sultanate

Indian President Pranab Mukherjee held talks with H E Dr Ali al Sunaidi on Monday during which they discussed relations between the two countries
Muscat - 

Oman offers no restrictions on the repatriation of capital or profits, up to 10-year exemption on corporate tax, up to 100 per cent foreign ownership, customs exceptions for machinery and materials used for manufacturing and no personal income tax. 

Bank Muscat arranges $725mn term loan for Jindal’s Oman steel plant

Bank Muscat arranges $725mn term loan for Jindal’s Oman steel plant
Muscat - 

Bank Muscat and India’s industrial conglomerate Jindal Group marked a celebration in New Delhi to commemorate the successful financial closure of US$725mn facility for Jindal Shadeed Iron & Steel. 

Negative market breadth weighs on MSM

Muscat - 

The benchmark MSM30 index corrected on Tuesday, dropping 0.56 per cent, or 39.60 points, to close  at 6,981.08, on a turnover of RO7.7mn and volumes of 16.44mn shares. No bonds traded on the bourse. 

9M results demonstrate customer confidence, says Bank Nizwa CEO

9M results demonstrate customer confidence, says Bank Nizwa CEO

Muscat - 

Bank Nizwa’s financial performance for the nine-month period ending September 30 has demonstrated the solid growth of the institution since its inception and its leading position in the Islamic finance sector in Oman, said Dr Jamil el Jaroudi, CEO of Bank Nizwa.

Strong dollar will keep inflation low: H E Zadjali

Muscat - 

Inflation in the sultanate is expected to remain low next year, at around one per cent, on the back of a strengthening US dollar, to which the Omani rial is pegged, according to H E Hamood Sangour al Zadjali.

GCC institutions help steady MSM

Muscat - 

MSM30, the general index of the Muscat Securities Market, inched up 0.16 per cent to close at 7,020.68 on buying support from GCC institutional investors.

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