Mubasher: Renaissance Services reported on Thursday an increase of 44.9% in its losses for the fourth quarter of fiscal 2016 to OMR 42.6 million ($110.26 million), versus OMR 29.41 million ($76.12 million) for Q4-15.

Net losses for the fiscal year 2016 reached OMR 41.76 million, 39.1% up from OMR 30.03 million for 2015, according to a bourse filing.

By 11:00am Muscat time, the stock topped the red list after falling by 9.78%.