MSX closes higher, supported by financial sector scrips
Published: 02:11 PM,Nov 20,2021 | EDITED : 06:11 PM,Nov 20,2021
MUSCAT: MSX30 Index ended the week higher by 1.30 per cent. All sub-indices ended lower except financial index. Services & industrial Index closed lower by 0.64 per cent and 0.30 per cent, respectively. Financial index closed up by 1.42 per cent. MSX Shariah Index closed higher by 0.32 per cent.
Oman International Development and Investment Company SAOG announced the following amongst other things in its EGM held last week.
• Approval of the proposed issuance of RO 52mn subordinated perpetual Mudaraba trust certificates (the Proposed Issuance) to Jabreen International Development Company SAOC (Jabreen), a fully owned subsidiary of the Company and a related-party, through Private Placement.
• Approval of the reduction of the issued share capital of the Company from RO 80.77mn to RO 66.8mn by fully cancelling the treasury shares that the company shall receive as part of the exchange transaction with Jabreen after completing the proposed issuance to Jabreen.
Dhofar Fisheries and Food Industries Company informed the shareholders of the approval of the company's board of directors on the proposal to convert the company from a public joint stock company to a closed joint stock company, in its meeting held on Nov 4, 2021, after obtaining the approval of the Authority The initial date is on Nov 15, 2021, whereby the company announces that the main shareholder of the company, Hassani Trading Company, has submitted an offer to purchase the shares of the shareholders wishing to sell at a value of (1) Omani Riyal. The name of the brokerage company executing the purchase is Ubhar Capital (SAOC).
Taageer Finance Company in continuation to the approval of the shareholders at the Extra Ordinary General Meeting (EGM) held on 10 June 2020 for the issue of Unsecured, Non-Convertible, Sub-ordinated Bonds through Private subscription for an amount RO 10mn (plus a green shoe (additional) option of OMR 5mn). Taageer Finance Company SAOG informed that the Bonds subscription has been closed for an amount of RO 13.23mn and the approval of Capital Market Authority (CMA) has been received.
Central Bank of Oman (CBO) is preparing the groundwork to support linkages between the Real-Time Gross Settlement (RTGS) system - the principal payment platform of the Sultanate of Oman - with the cross-border payment systems of the Gulf Cooperation Council (GCC), as well as the wider Arab region. The link-ups, when completed before the end of this year, will enable cross-border payments to be effected in local currencies cost-competitively and in real time, according to top officials of the CBO.
Bank lending in Oman has shown signs of revival in past few months and credit growth has further increased in September, the Central Bank of Oman's (CBO) data showed. Oman's bank loan growth picked up in September 2021 to 4.9 percent, signaling that the sultanate's economic recovery is continuing into the fourth quarter of this year. Total outstanding credit extended by Oman's banking sector grew by 4.9 percent year-on-year to reach OMR 27.7bn at the end of September 2021. Credit growth in Oman had dropped below 2 per cent last year after the dual shock of the coronavirus crisis and oil price collapse hit the economy hard. Bank lending to the private sector also showed an improved growth of 2.6 percent as of September this year compared to less than 1 per cent recorded in the first half of 2021, the central bank's data showed. On the deposits side, the CBO data indicated that total deposits held with the Omani banks (conventional and Islamic) registered an y-o-y growth of 2.7 percent to reach OMR 25bn at the end of September 2021.
Latest NCSI Oman figures indicate that Oman’s population rose by 0.7 per cent in October 2021, as compared to September 2021. Omani’s population grew by 0.2 per cent in October compared to September 2021 while expatriate population rose by 1.4 per cent in October 2021 compared to September 2021. Of the total population, 62.75 per cent were Omanis while 37.25 per cent were expatriates as of October 2021. [Courtesy: U-Capital]
Oman International Development and Investment Company SAOG announced the following amongst other things in its EGM held last week.
• Approval of the proposed issuance of RO 52mn subordinated perpetual Mudaraba trust certificates (the Proposed Issuance) to Jabreen International Development Company SAOC (Jabreen), a fully owned subsidiary of the Company and a related-party, through Private Placement.
• Approval of the reduction of the issued share capital of the Company from RO 80.77mn to RO 66.8mn by fully cancelling the treasury shares that the company shall receive as part of the exchange transaction with Jabreen after completing the proposed issuance to Jabreen.
Dhofar Fisheries and Food Industries Company informed the shareholders of the approval of the company's board of directors on the proposal to convert the company from a public joint stock company to a closed joint stock company, in its meeting held on Nov 4, 2021, after obtaining the approval of the Authority The initial date is on Nov 15, 2021, whereby the company announces that the main shareholder of the company, Hassani Trading Company, has submitted an offer to purchase the shares of the shareholders wishing to sell at a value of (1) Omani Riyal. The name of the brokerage company executing the purchase is Ubhar Capital (SAOC).
Taageer Finance Company in continuation to the approval of the shareholders at the Extra Ordinary General Meeting (EGM) held on 10 June 2020 for the issue of Unsecured, Non-Convertible, Sub-ordinated Bonds through Private subscription for an amount RO 10mn (plus a green shoe (additional) option of OMR 5mn). Taageer Finance Company SAOG informed that the Bonds subscription has been closed for an amount of RO 13.23mn and the approval of Capital Market Authority (CMA) has been received.
Central Bank of Oman (CBO) is preparing the groundwork to support linkages between the Real-Time Gross Settlement (RTGS) system - the principal payment platform of the Sultanate of Oman - with the cross-border payment systems of the Gulf Cooperation Council (GCC), as well as the wider Arab region. The link-ups, when completed before the end of this year, will enable cross-border payments to be effected in local currencies cost-competitively and in real time, according to top officials of the CBO.
Bank lending in Oman has shown signs of revival in past few months and credit growth has further increased in September, the Central Bank of Oman's (CBO) data showed. Oman's bank loan growth picked up in September 2021 to 4.9 percent, signaling that the sultanate's economic recovery is continuing into the fourth quarter of this year. Total outstanding credit extended by Oman's banking sector grew by 4.9 percent year-on-year to reach OMR 27.7bn at the end of September 2021. Credit growth in Oman had dropped below 2 per cent last year after the dual shock of the coronavirus crisis and oil price collapse hit the economy hard. Bank lending to the private sector also showed an improved growth of 2.6 percent as of September this year compared to less than 1 per cent recorded in the first half of 2021, the central bank's data showed. On the deposits side, the CBO data indicated that total deposits held with the Omani banks (conventional and Islamic) registered an y-o-y growth of 2.7 percent to reach OMR 25bn at the end of September 2021.
Latest NCSI Oman figures indicate that Oman’s population rose by 0.7 per cent in October 2021, as compared to September 2021. Omani’s population grew by 0.2 per cent in October compared to September 2021 while expatriate population rose by 1.4 per cent in October 2021 compared to September 2021. Of the total population, 62.75 per cent were Omanis while 37.25 per cent were expatriates as of October 2021. [Courtesy: U-Capital]