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BUSINESS NEWS

Ahlibank’s first-half net profit up 5% to RO13mn

On a sequential basis, the bank’s net profit increased 16.3% to RO7mn in the second quarter (Muscat Daily)
Muscat - 

Ahlibank reported a net profit of RO13.1mn for the six months ended June 30, 2014, up five per cent from RO12.5mn in the corresponding period of the previous year. 

Nawras net profit grows 23% in H1

Greg Young
Muscat - 

Omani Qatari Telecommunications Co SAOG (Nawras) on Wednesday said net profit for the first half of 2014 rose 23 per cent, driven by higher earnings before interest, taxes, depreciation and amortisation (Ebitda), which was partially offset by higher depreciation cost due to network modernisation.

MSM30 gains on positive earnings reports

Muscat - 

The MSM30 index closed Wednesday’s trading up by 0.23 per cent at 7200.70. The market reacted to numerous results announcements.

ITA board meeting clears 2015 budget

ITA board meeting clears 2015 budget
Muscat - 

The Information Technology Authority (ITA) held its second board of directors meeting of 2014 on July 21. Chaired by H E Dr Ahmed al Futaisi, Minister of Transport & Communications and chairman of ITA, the meeting was attended by members of the board and Dr Salim al Ruzaiqi, chief executive officer of ITA. 

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. 

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