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BUSINESS NEWS

Omani banks’ widening credit-deposit growth gap a credit negative: Moody’s

Muscat - 

With lower oil prices continuing to drive reduced deposit inflows at Omani banks, the widening gap between credit and deposit growth is a credit negative for Oman's banking system, Moody's Investor Service has warned.

OCCI panel to visit Indonesia to boost joint investments

Muscat - 

A business delegation from the Oman Chamber of Commerce and Industry (OCCI) branch of North Batinah will visit Indonesia this Wednesday in a bid to enhance joint investments.            

Clifford Chance advises on $100mn NBO tap issuance

Dubai - 

Clifford Chance's Dubai office has advised Crédit Agricole Corporate and Investment Bank and National Bank of Abu Dhabi PJSC (NBAD) as joint lead managers on the tap issuance by the National Bank of Oman SAOG of US$100mn 3.125 per cent notes due 2019 (to be consolidated, become fungible and form a single series with the US$500mn 3.125 per cent notes due 2019 issued on October 7, 2014), under the Irish Stock Exchange listed US$600mn euro medium term note programme established by NBO.

New Corporate Governance Code comes into effect today

New Corporate Governance Code comes into effect today
Muscat - 

Oman’s new Code of Corporate Governance comes into effect today.

Ithraa panel kicks off Singapore talks

Ithraa panel kicks off Singapore talks
Muscat - 

A top-flight Omani business delegation led by Ithraa, the sultanate’s inward investment and export promotion agency, kicked off trade and investment meetings on Monday in Singapore.

Block deals fail to enthuse Muscat market

Muscat - 

The Oman benchmark trended lower, dropping 0.38 per cent to close at 5,816.82 on Wednesday.

Al Anwar Holdings Q1 net profit up 63% to RO4.3mn

Muscat - 

Al Anwar Holdings Co reported a group net profit of RO4.27mn (attributable to shareholders of the parent company) for the three months ended June 30, 2016, a jump of 63 per cent from RO2.62mn in the corresponding period of 2015.

Stocks decline, paced by drop in Brent crude

Muscat - 

Oman shares retreated, paced by a drop in Brent crude. The MSM30 index ended 0.08 per cent lower at 5,839.28.

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