Helped by moderating global commodity prices and a strong US dollar, to which Oman keeps its currency pegged, the sultanate's annual inflation fell to a 40-month low in April.
The general index of the Muscat Securities Market (MSM) gained 0.40 per cent to close at 6509.94 points on Tuesday.
Bank Sohar has won the Tatweej Academy's 'Golden Order of Merit' for its prudent management and support for tourism projects in the Arab world. Bank Sohar is the only organisation from Oman and the only bank in the Middle East to have won this award.
For a third consecutive year, bank muscat and Al Omaniya Financial Services have emerged as the leading bank and finance leasing company, respectively, in the 2012 BusinessToday Best Banks and Finance Companies Survey. The survey was conducted in conjunction with Ernst & Young, which determined the financial ratios, rating all seven listed banks and six finance firms on various parameters.
Regional markets continued decline, weighed down by weak international leads and trading due to the summer.
Despite the buoyant revenues from high oil prices, the gradual rise in Oman's fiscal break-even oil price is increasing vulnerability of its public finances to oil price shocks and is likely to lead to lower fiscal surpluses going forward, global credit ratings agency Moody's said.
Meethaq, bank muscat's Islamic banking window, has won the 'Best Islamic Financial Institution in Oman' award of Global Finance.
Well-known local and international engineering and construction firms have submitted commercial bids for packages 4, 5 and 6 of Oman's ambitious Batinah Expressway project. The three tenders were opened on June 11.