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BUSINESS NEWS

HSBC Bank Oman posts H1 net profit of RO5.7mn

Net interest income was flat at RO23.1mn while total other operating income increased 8.9% to RO11.0mn
Muscat - 

HSBC Bank Oman has posted a net profit of RO5.7mn for the first half of 2014. While this represented a 38.7 per cent drop over the same period last year, the comparative period in 2013 benefitted from large recoveries and a release of a portion of the general provision, a bank press release said. 

Alizz islamic bank reports RO2.6mn loss

Alizz islamic bank reports RO2.6mn loss
Muscat - 

Alizz islamic bank has reported a loss of RO2.6mn for the period ended June 30, 2014 which the bank said, in a disclosure to the Muscat Securities Market, "is in line with its strategic plan."

MSM30 closes flat; volume declines

Muscat - 

The MSM30 index closed flat on Monday, inching up 0.03 per cent to 7,183.95. Volume of securities traded slipped to 10.95mn, compared with 28.39mn registered on Monday. The total number of trades grew six per cent to 887 from 836 on Monday. 

Export Development Group of Ithraa holds 1st meeting

Export Development Group of Ithraa holds 1st meeting
Muscat - 

Ithraa’s newly created Export Development Working Group held its first meeting to agree on its organisational structure and mandate as well as assess the current status of export development in Oman. 

Oman Convention Centre attracts senior executives

The OCEC team is preparing for a 2016 opening
Muscat - 

The Oman Convention and Exhibition Centre (OCEC) continues to attract experienced industry professionals to its team as it prepares for opening in 2016.

Higher volumes fail to enthuse MSM

Muscat - 

The MSM30 index inched down 0.09 per cent to 7,182.02 on Sunday. 

MSM30 closes weak on lack to triggers

Muscat - 

The MSM30 index closed marginally lower on Sunday, losing 0.21 per cent at 7,188.48, with the market largely devoid of triggers. 

Strong growth in non-interest income and one-off gain on merger of Bahraini subsidiary boosted H1 earnings

Bank Muscat H1 net profit advances 37% to RO86mn

Muscat - 

Bank Muscat has recorded a 36.8 per cent year-on-year growth in net profit for the six-month period ended June 30. 

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