Oman news

Turbulences in global financial markets will need to be tackled along the way
2 hours ago BIS calls on central banks to hike rates
Mubasher: The Bank for International Settlements on Sunday called on the world's major central banks to increase interest rates. Turbulences in global financial markets will need to be tackled along the way, Reuters reported, citing the BIS, which …
(Photo credit: Radio Free Europe)
12:42 PM Alternative to Qatar demands 'not escalation but parting ways' says UAE minister
Early on Saturday, a top UAE official stated that if Qatar failed to accept the ultimatum issued by Arab states against it, then the alternative would "not [be] escalation but parting ways", Reuters reported. "The alternative is not escalation, …
Lawmakers failed to access their emails away from Westminster
12:02 PM UK lawmakers suffer cyber security attack – AP
Mubasher: One month after the ransomware attack crippled the UK's health service, a new attack was launched against the British parliament on Saturday, The Associated Press reported. Hackers attempted to gain access to email accounts, officials …
The main index closed at the level of 5,118.31 points
24 June 07:26 PM MSM down 2.5% in week
Mubasher: The main index of the Muscat Securities Market (MSM) ended the week with a 2.48% decline, losing 130.1 points compared to its levels at the end of last week, closing at 5,118.31 points. The market capital decreased 1.11% to OMR 17.61 …
The report predicted that only nine countries will form half of the world's population by 2050
23 June 04:38 PM UN raises world population forecasts to 9.8bn by 2050
Mubasher: The world's population is expected to grow to 8.6 billion by 2030, 9.8 billion by 2050 and 11.2 billion by 2100, mainly driven by Africa's rising populations, according to The United Nations' (UN) forecasts. The UN adjusted its previous …
The relocation will result in hundreds of jobs leaving London
23 June 03:51 PM EU to relocate 2 agencies from London
Mubasher: The European Union (EU) on Friday announced it would move the European Medicines Agency (EMA) and European Banking Authority (EBA) out of London by the Brexit deadline, set on 30 March 2019, according to BBC News. The EU will hold a …
Trading volume slid to 6.8 million shares on Thursday
22 June 02:48 PM MSM slightly drops at Thursday’s close
Mubasher: The main index of the Muscat Securities Market (MSM) ended Thursday down after losing 0.06% or 3.16 points to reach 5,118.31 points. The financial sector shed 0.5% as Al Anwar Holdings retreated 8.52%, followed by Ahli Bank with …
The shareholders also approved the board of directors’ recommendation to distribute bonus shares
22 June 12:04 PM Al Anwar Holdings OKs cash dividends, bonus shares
Mubasher: The shareholders of Oman’s Al Anwar Holdings approved distributing cash dividends representing 10% of the capital at 10 baisas per share for the fiscal year ended 31 March 2017, according to a company statement. The shareholders also …
OIFC appoints new chairman
22 June 10:06 AM OIFC appoints new chairman
Mubasher: Oman Investment and Finance Company (OIFC) on Thursday announced appointing Nasser Mohammed Al Harthy as chairman after the resignation of Ahmed Hamed Al Subhi. The Muscat-listed company’s profits decreased 14.9% in the first quarter of …
Traders at Abu Dhabi's bourse
22 June 08:17 AM GCC bourses likely to see calm trades ahead of Eid Al Fitr - Analysts
By: Mahmoud Gamal Mubasher: The GCC stock markets are expected to see calm trading on Thursday as investors are shying away from building new positions ahead of the Eid Al Fitr holiday, amid the decline of oil prices to their ten-month low, …
Damac will redevelop Mina Sultan Qaboos Waterfront
21 June 04:17 PM Damac, Omran ink $1bn port renovation deal
Mubasher: Damac International announced that it has been chosen by the government of Oman to develop its Port Sultan Qaboos into a world-class, waterfront mix use destination through a joint venture with Omran, the government’s investment, growth …
Trading volume rose to 21.83 million shares on Wednesday
21 June 02:46 PM Blue chips push MSM down at Wednesday’s close
Mubasher: The main index of the Muscat Securities Market (MSM) ended Wednesday in the red zone after decreasing 1.42% or 73.65 points to reach 5,121.47 points. Bank Dhofar retreated 4.35%, followed by HSBC Oman with 3.91%, and Oman Investment and …
The board requested a new offer on a full cash acquisition basis.
21 June 10:21 AM UFC Oman rejects Alizz bank offer
Mubasher: The board of directors of Oman’s United Finance Company (UFC) on Tuesday refused a merger offer by Alizz Islamic Bank. The board requested a new offer on a full cash acquisition basis.
The Minister of Investment met with representatives from British companies operating in Egypt
20 June 06:09 PM Egypt saw $43bn of British investments last decade
Cairo - Mubasher: The Egyptian minister of investment and international cooperation said that the investments of British companies in Egypt reached $43 billion in the last ten years. Sahar Nasr added on Tuesday that British companies expressed …
S&P expects Islamic finance growth to settle at 5% for two years
20 June 05:03 PM Islamic finance assets reach $2trn in 2016 - S&P
Mubasher: A report by Standard and Poor's Global Ratings (S&P) showed that assets of the Islamic finance industry amounted to $2 trillion by the end of 2016. The rating agency expects the industry to continue to grow this year, then lose some …
The industry sector inched down 0.08% as Voltamp Energy dropped 1.23%
20 June 01:01 PM MSM ends Tuesday down on services, financial
Mubasher: The main index of the Muscat Securities Market (MSM) closed Tuesday down, after losing 0.49% or 25.82 points to reach 5,195.12 points. Al Batinah Power retreated 6.67%, followed by Bank Dhofar with 1.71%, and the National Bank of Oman …
Voltamp Energy denied social media reports claiming that the company is supplying Qatar with electric transformers.
20 June 11:21 AM Voltamp Energy denies supplying Qatar with electric transformers
Mubasher: Oman’s Voltamp Energy denied social media reports claiming that the company is supplying Qatar with electric transformers. The Omani company said in a statement that the Qatari market is important, but that no negotiations or agreements …
Traders at Saudi bourse
20 June 07:58 AM Saudi, UAE stocks attract institutional, foreign liquidity - Analysts
By: Mahmoud Gamal Mubasher: Institutional and foreign traders tended to invest in mid- and small-cap stocks listed on the Saudi and UAE stock markets, pushing them to rise, analysts told Mubasher. The GCC stock markets are expected to see a …
Qatar sees sharp FDI drop in 2016 - UNCTAD
19 June 05:23 PM Qatar sees sharp FDI drop in 2016 - UNCTAD
Doha – Mubasher: Foreign direct investment (FDI) in Qatar dropped during 2016, according to a report issued by the United Nations Conference on Trade and Development (UNCTAD). FDI in the Gulf state reached $774 million in 2016, compared to $1.071 …
The first phase will create around 100 jobs
19 June 04:06 PM Meethaq inks $14m financing deal
Mubasher: Meethaq Islamic Banking, a subsidiary of Bank Muscat, announced signing an agreement with SAFE Alloys LLC to establish a low carbon ferro chrome production plant at Sohar Free Zone. The plant, which will be the first of its kind in the …
The industry sector grew 0.39% after Voltamp Energy gained 3.85%
19 June 01:57 PM MSM loses at Monday’s close; volume rises
Mubasher: The main index of the Muscat Securities Market (MSM) ended Monday in the red zone after falling 0.54% or 28.3 points to reach 5,220.94 points. The services sector decreased 0.87% after Sembcorp Salalah Power and Water Company retreated …
The estimated OMR 275 million ($714 million) mall will feature services including fixed voice and data services, and mobile voice and high speed broadband connectivity
19 June 12:44 PM Majid Al Futtaim inks partnership deal with Omantel
Dubai – Mubasher: Majid Al Futtaim signed an agreement with Omantel to build an onsite, leading-edge voice and data network to support the Mall of Oman, which is under construction in the sultanate, according to a statement. The mall has an …
(MSM) has said that trades will be suspended from 25 to 29 June on the occasion of the Eid Al Fitr holiday
19 June 10:03 AM MSM announces Eid Al Fitr holiday
Mubasher: The Muscat Securities Exchange (MSM) has said that trades will be suspended from 25 to 29 June on the occasion of the Eid Al Fitr holiday, according to a bourse filing. The decision was taken in accordance with ministerial decisions to …
Traders at Boursa Kuwait
19 June 08:15 AM GCC stocks’ trend dependent on oil prices - Analysts
By: Mahmoud Gamal Mubasher: The GCC stock markets are expected to suffer further losses on Monday, amid anticipation of the performance of oil prices, which fell to their lowest level since the beginning of this year, analysts told Mubasher. …
The Dolphin pipeline links the Qatari North Dome field with the UAE and Oman
18 June 04:27 PM Qatari gas supply to UAE to continue – SNOC
Abu Dhabi – Mubasher: The natural gas supply from Qatar to the UAE will not stop after the diplomatic rift between Qatar and some Arab and Gulf states, Reuters reported, citing Sharjah National Oil Corporation’s (SNOC) CEO Hatem Al Mosa as saying. …