MUSCAT: MSX30 Index ended the week positive by 0.61 per cent. All indices closed the week up. The Services index ended the week higher by 1.21 per cent. The Industrial Index and Financial index closed lower by 0.14 per cent and 0.87 per cent respectively. The MSX Shariah Index closed up by 0.93 per cent.
Al Maha Petroleum Products Marketing Company signed an agreement with i6 Group for using the world’s first end-to-end aviation fuel management platform 'Fusion6', an into-plane refuelling management platform allowing for complete real-time visibility and management of ground fuelling operations. The technology will be rolled out at Muscat International Airport, also expanding i6’s presence throughout the Middle East. Other Middle Eastern airports already taking advantage of i6 technology include Dubai International Airport and Bahrain International Airport.
Oman Telecom Sector Data for April, reveals that fixed line subscribers are down 2.6 per cent while mobile subscribers are up 1.7 per cent. Within mobile, prepaid subscribers are down 3.4 per cent while postpaid subscribers are higher by 24.3 per cent YoY. Active Mobile broadband subscribers are up by 2.2 per cent. Penetration levels are lower at the end of April 2022 as compared to April 2021.
Value of traded property in Oman went down by 28 per cent in April 2022 to RO 146.6m compared to RO 202.7m in April 2021. Traded value of mortgage contracts MoM went down by 22 per cent to RO 73m compared to RO 93m in same period last year. Traded value of sale contracts declined by 33 per cent to RO 73m compared to RO 109m YoY. Number of properties issued in April also declined by 17 per cent to 15,133 compared to 18,329 in April 2021.
The Foreign Direct Investment in the Sultanate of Oman has jumped 7.7 per cent compared to December 2020, and a wider chunk of potential FDI is currently in the pipeline, according to the Ministry of Commerce, Industry and Investment Promotion (MoCIIP). Speaking to the members of the global media at the International Conference for Journalists, 31st Congress of the International Federation of Journalists (IFJ), Muhanna bin Ali al Sinani, Acting Director of the Investment Promotion Department, said a plethora of initiatives are being implemented in various sectors of the ministry to improve the investment environment in the Sultanate of Oman to create a competitive business environment.
The Public Establishment for Industrial Estates (Madayn) has attracted and localised 130 industrial, commercial and service projects during the first quarter of 2022 with an investment value touching RO 64 million and a total area of 818,000 sq m, informed Hilal bin Hamad al Hasani, CEO of Madayn. Madayn, directly or through Mubadrah and Shumookh Investment and Services, is currently implementing more than 30 vital projects of consultancy works and infrastructure projects distributed over 11 industrial cities with a total cost surpassing RO 200 million. The total cost of construction services of the industrial cities’ projects exceeds RO 100 million spread across eight industrial cities.
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