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.
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.
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.
The benchmark MSM30 index closed 1.22 per cent lower to end Monday’s session at 7,051.70.
Duqm Special Economic Zone Authority (Sezad) has signed a preliminary usufruct agreement with Duqm Refinery and Petrochemicals Industries Co (DRPIC).
Oman Air has appointed new country managers for each of the two new destinations it will be flying to from December 2014.
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.
Standard Chartered Oman was named the 'Best SME Customer Service' at the Banker Middle East Product Awards 2014.