The United Arab Emirates’s Economy Minister joined forecasters looking for US$60 crude this year with demand and production moving more in line.
The Muscat Securities Market (MSM) witnessed selling pressure on Monday as the benchmark index fell by 0.88 per cent to close at 5,838.56 points.
The rising demand for electricity will require Oman's power generation capacity to grow at an annual rate of 9.6 per cent over the next five years and the country will need to add 4.8GW capacity by 2020, involving an investment of US$8bn, according to Arab Petroleum Investment Corporation (Apicorp).
The MSM30 index closed Sunday’s session down 0.41 per cent at 5,890.45 with investors turning cautious ahead of Ramadan, about a week away. Market breadth was negative with just three stocks posting gains, against 22 decliners.
The Capital Market Authority (CMA), under the leadership of its executive president H E Abdullah al Salmi, has undertaken the task of promoting and preserving transparency and accountability in the corporate sector to boost investor confidence and protect stakeholders, according to the market regulator’s director general.
Oman-based projects were among the big winners at the recently concluded 2016 MEED Quality Awards for Projects.
Oman’s OTE group has won the ‘Hyundai Best Middle East Dealer for After Sales’ award.
The Oman-Iran Investment Forum, organised by the Public Authority for Investment Promotion and Exports Development, also known as Ithraa, in collaboration with the sultanate's Embassy in Iran and the Iran Chamber of Commerce, Industry and Minerals, will be held on Tuesday in Iran.