The MSX30 Index ended the week lower by 2.99 per cent. All sub-indices ended lower as well. Services & Financial Index closed lower by 1.77 per cent and 2.58 per cent, respectively while Industrial index closed down by 1.52 per cent. MSX Shariah Index closed lower by 1.77 per cent.
Ominvest, in its EGM held on November 17, obtained its shareholders' approval to issue Unsecured Subordinated Perpetual Sukuk Al Mudaraba Certificates (Sukuk) worth RO 52 million. The Sukuk will be issued by Ominvest and exchanged for shares (Treasury Shares) held by Jabreen International Development Company (Jabreen), a fully owned subsidiary of Ominvest. After the exchange transaction is completed, the Treasury Shares will be cancelled by Ominvest. The Sukuk will be in exchange for 139.4mn treasury shares, which represent 17.26 per cent of Ominvest's equity capital. Ominvest plans to acquire the Treasury Shares at 373 baisas per share from Jabreen.
Oman Investment Authority (OIA) has announced the opening of 13 national projects valued approximately at RO 3.5bn. The projects cover a number of key sectors, including energy, food security, manufacturing, mining, health and tourism services.
The 13 national projects are: Liwa Plastic Industries; Salalah Liquefied Petroleum Gas project; Petroleum Coke Installation at Sohar Free Zone; Ibri Solar Plant; Al Murooj Dairy Products; Al Bashayer Meat project; Shrimp farm in Jaalan Bani Bu Hassan; Khazaen Land Port (dry port) in South Al Batinah; One-Stop-Station in Salalah; Ahjar Quarry Company, based in the Wilayat of Liwa; Karwa Motors project in Duqm; Oman International Hospital project; and Dusit2 Naseem Resort in Al Jabal Al Akhdar.
Latest NCSI Oman figures indicate that Oman's population rose by 0.8 per cent in November 2021, as compared to October 2021. Omani's population grew by 0.2 per cent in November compared to October 2021 while expatriate population rose by 1.8 per cent in November 2021 compared to October 2021. Of the total population, 62.37 per cent were Omanis while 37.63 per cent were expatriates as of November 2021.
The value of traded property in Oman went up by 16.2 per cent in 10M/2021 to RO 2,302 million compared to RO 1,981 million in 10M/2020. Traded value of mortgage contracts during the same period fell by 0.9 per cent to RO 1,197 million compared to RO 1,208 million in same period last year. Traded value of sale contracts rose by 52.9 per cent to RO 1,089 million compared to RO 712.6 million in 10M/2020. Number of properties issued during 10M/2021 also rose by 37.7 per cent to 210,858 compared to 153,098 in 10M/2020.
Oman recorded net outflows of $3.6 million in the month of November 2021. With outflows in November, the overall inflows during the year 2021 stand at $43.5 million. Oman's highest positive inflow during 2021 came in the month of June 2021 when net inflows during the month were recorded at $75 million.
[Courtesy: U-Capital]
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