Oman news

No more OPEC discussions on deepening oil output cuts – Al Falih
24 July 03:38 PM No more OPEC discussions on deepening oil output cuts – Al Falih
Riyadh – Mubasher: Khalid Al Falih, the Saudi minister of energy, industry, and mineral resources on Monday said that there will not be further discussions of deeper oil output cuts from members and non-members of the Organization of the Petroleum …
Trading volume slid to 11.09 million shares on Monday against 40.27 million shares on Sunday
24 July 02:14 PM MSM closes Monday near stable
Mubasher: The main index of the Muscat Securities Market (MSM) ended Monday near stable after edging down 0.08% or 4.19 points, reaching 4,995.17 points. Raysut Cement Company fell 3.43%, while Al Jazeira Services and Al Anwar Holdings decreased …
Muscat Finance on Sunday posted a 25.8% hike in profits of the second quarter ended June 2017
23 July 03:03 PM Muscat Finance Q2 profits surge 26%
Mubasher: Muscat Finance on Sunday posted a 25.8% hike in profits for the second quarter ended June 2017, according to a statement. The Muscat-listed firm achieved a profit of OMR 1.22 million ($3.2 million) in Q2-17 from OMR 970,000 ($2.5 …
The Market cap lost 1.11% last week
21 July 11:59 PM MSM down 2.4% in week
Mubasher: The main index of the Muscat Securities Market (MSM) saw a decline of 2.38% in the week that ended on 20 July, as it lost 122.01 points, and closed at the level of 4,999.37 points. The Market capital decreased by 1.11% to OMR 17.37 …
The United Arab Emirates Minister of Energy Suhail Al Mazroui
21 July 04:06 PM UAE hopes oil markets will tighten in H2-17
Mubasher: The United Arab Emirates Minister of Energy, Suhail Al Mazroui, told Reutuers on Friday that he hopes global supplies will start tightening in the second half of the year when demand picks up. "We have seen healthy demand and a …
The Organization of the Petroleum Exporting Countries (OPEC)
21 July 11:34 AM OPEC meeting to review output cut levels - Minister
Mubasher: A meeting will be held on Monday in Saint Petersburg, Russia, as members of the Organization of the Petroleum Exporting Countries (OPEC) alongside non-OPEC major producers will assess conformity with a recent output cut resolution. Oil …
Kuwaiti crude oil prices reached $46.51 per barrel on Thursday
21 July 11:23 AM Kuwait oil up $0.74
Kuwait - Mubasher: The price of Kuwaiti oil went up by 74 cents on Thursday, according to the Kuwait Petroleum Corporation (KPC). Prices reached $46.51 per barrel (pb) yesterday, compared to $45.77 pb on the day before, Kuwait News Agency (KUNA) …
The International Monetary Fund
21 July 11:13 AM IMF approves EUR1.5bn loan for Greece
Mubasher: The International Monetary Fund (IMF) announced on Thursday that it has approved in principle a loan of EUR 1.6 billion ($1.8 billion) for Greece, according to a press release. The agreement will only become effective after the IMF …
Phoenix Power, Galfar Engineering and Contracting, and Oman Fisheries stocks declined 4.17%, 3.95%, and 3.05%, respectively
20 July 03:27 PM Blue chips push MSM down at close Thursday
Mubasher: The main index of the Muscat Securities Market (MSM) ended Thursday in the red zone after decreasing 0.87% or 43.63 points to reach 4,999.37 points. Phoenix Power, Galfar Engineering and Contracting, and Oman Fisheries stocks declined …
Traders at Boursa Kuwait
20 July 07:51 AM Investors likely to build new positions in GCC stocks
By: Mahmoud Gamal Mubasher: Investors are expected to build up new positions in GCC listed stocks on Thursday, in line with the announcements of first-half financials which are expected to improve amid higher oil prices, analysts told Mubasher. …
Trading volume reached to 7.68 million shares on Wednesday against 12.27 million shares on Tuesday
19 July 02:51 PM MSM falls to 75-week low at Wednesday’s close
Mubasher: The main index of the Muscat Securities Market (MSM) ended Wednesday in the red zone after dropping 0.41% or 20.85 points to reach 5,043 points, registering its lowest level in 75 weeks, or since the end of January 2016. Raysut Cement …
The transport ministry expected the project to reinforce urban expansion
18 July 07:15 PM Galfar Engineering, transport ministry ink OMR 26m deal
Mubasher: Galfar Engineering and Contracting on Tuesday signed a contract with the Omani Ministry of Transport and Communication at a value of OMR 26.24 million. The company has been awarded a 14-month contract for essential works for traffic …
The financial sector levelled up 0.26% as Al Sharqiya Investment Holding and Al Madina Investment increased 4.76% and 4.62%, respectively
18 July 12:48 PM MSM ends Tuesday down on services sector
Mubasher: The main index of the Muscat Securities Market (MSM) closed Tuesday in the red zone after decreasing 0.19% or 9.44 points reaching 5,063.85 points. The services sector shed 0.26% as Salalah Port Services retreated 4.43%, followed by Oman …
Traders at Boursa Kuwait
18 July 07:56 AM GCC stocks tend to invest in low-priced stocks
By: Mahmoud Gamal Mubasher: The GCC bourses are expected to continue their sideways-to-positive performance on Tuesday, amid anticipations of listed blue-chip companies’ financial disclosures for the first half of 2017, analysts told Mubasher. …
Acwa Power posted profits of OMR 3.6 million ($9.3 million) in Q2-17, compared to OMR 3.13 million ($8.1 million) in Q2-16
17 July 05:34 PM Acwa Power profits surge 15% in Q2
Mubasher: Acwa Power Barka said its profits increased 15% in the second quarter of 2017, compared to the same period in the previous year. The Omani power company posted profits of OMR 3.6 million ($9.3 million) in Q2-17, compared to OMR 3.13 …
Emirates operates 259 wide-body aircraft to 157 destinations, while flydubai operates 58 Boeing 737s to 95 destinations.
17 July 02:16 PM Emirates to form new partnership with Flydubai
Dubai – Mubasher: Emirates will form a partnership with FlyDubai aimed at allowing the companies to feed passengers onto each other’s flights, according to a statement. The deal will include network collaboration and coordinated scheduling at …
The Muscat Securities Market (MSM) on Monday announced that the trading activities will be suspended
17 July 01:47 PM MSM announces vacation on 23 July
Mubasher: The Muscat Securities Market (MSM) on Monday announced that trading activities will be suspended on Sunday, 23 July 2017 on the occasion of Oman’s Renaissance Day. Trading activities will resume on Monday, 24 July.  
Sembcorp’s profits reached OMR 5.15 million ($13.3 million) in Q2-17
17 July 12:24 PM Sembcorp Salalah profits grow 9% in Q2 on higher revenues
Mubasher: Sembcorp Salalah Power and Water Company said its profits rose by 9.3% year-on-year in the second quarter of 2017. Sembcorp’s profits reached OMR 5.15 million ($13.3 million) in Q2-17, compared to OMR 4.71 million ($12.2 million) in …
The industry sector grew 1.11% as Oman Fisheries surged 8.18%
17 July 12:23 PM Two sectors boost MSM at Monday’s close
Mubasher: The benchmark index of the Muscat Securities Market (MSM) ended Monday in the green zone after gaining 0.19% or 9.53 points to reach 5,073.29 points. The industry sector grew 1.11% as Oman Fisheries surged 8.18% and Galfar Engineering …
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16 July 10:05 PM KFH is world’s biggest in Sukuk issuance - Chairman
Kuwait - Mubasher: The chairman of Kuwait Finance House (KFH) said that the group is the biggest Sukuk issuer in the world, as demand is rising on the sharia-compliant product. Hamad Abdulmohsen Al Marzouk added in a statement issued on Sunday …
Trading volume on Sunday shrank to 10.62 million shares from 14.6 million shares on Thursday
16 July 03:53 PM Blue chips weigh on MSM at Sunday’s close
Mubasher: The general index of the Muscat securities Market (MSM), pressured by leading stocks, closed Sunday’s session with a decrease of 1.13% or 57.62 points to the level of 5,063.76 points. The MSM index was pressured by its leading stocks …
Raysut Cement’s stock inched down 0.8% to OMR 0.988 at the closing of Sunday’s trading session
16 July 03:42 PM Raysut Cement’s Q2 profits drop 68%
Mubasher: Raysut Cement posted a 68.3% year-on-year decline in the second quarter of 2017. The Muscat-listed company achieved profits of OMR 1.53 million ($3.97 million) in Q2-17, compared to OMR 4.83 million ($12.5 million) in the corresponding …
In the first half of 2017, Omantel’s profits declined 38.92% to OMR 40.8 million
16 July 12:55 PM Omantel Q2 profits plummet 47%
Mubasher: Oman Telecommunications (Omantel) reported a 46.88% drop in profits in the second quarter of 2017 compared to figures from the corresponding period of 2016. The telecommunications company achieved profits of about OMR 17 million ($43.97 …
Galfar Engineering's semi-annual profits retreated 98.89% reaching approximately OMR 6,000
16 July 12:33 PM Galfar Engineering losses shrink 91% in Q2
Mubasher: Galfar Engineering and Contracting on Sunday reported narrowing its losses by 91.18% in the quarter ended 30 June, compared to the corresponding period of 2016. The Omani company’s losses amounted to OMR 60,000 ($155,180) in Q2-17, down …
Bank Nizwa on Sunday reported turning to profitability in the second quarter of 2017
16 July 11:57 AM Bank Nizwa turns profitable in Q2
Mubasher: Bank Nizwa on Sunday reported turning to profitability in the second quarter of 2017 against losses in the corresponding period of the year before. The Muscat-listed bank achieved a profit of OMR 710,000 ($1.84 million) in Q2-17, against …