Omani stocks rallied amid speculation that policy makers will mitigate the damage of the UK’s vote to leave the European Union, including a pause in the Federal Reserve’s tightening cycle.
Sohar Aluminium has set a new production record. The company achieved a record output of 377,186 tonnes in 2015, the highest in its history. Total output in 2014 was 363,528 tonnes.
Petroleum Development Oman (PDO), acting on behalf of the Government of Oman, has successfully raised US$4bn from a group of international financial institutions.
Galfar Engineering and Contracting Co has appointed Gerard Hutchinson as its new chief financial officer.
The benchmark index ended slightly lower on Tuesday, inching down 0.04 per cent to 5,761.32. Volume and turnover fell and came in at 11.5mn and RO2.52mn, respectively.
Omantel said on Tuesday its board of directors has received a non-binding offer from a Pakistani investor to acquire the company's shares in WorldCall Telecom Ltd (WTL).
Following a recent meeting of its board of directors, the Qurum Business Group (QBG) has announced that it would allocate five per cent of its upcoming end-of-year net profits to QBG Echoes, the group’s dedicated corporate social responsibility (CSR) arm.
Most Omani stocks advanced as investors judged the Brexit-induced sell-off was overdone.