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EDITOR IN CHIEF- ABDULLAH BIN SALIM AL SHUEILI

MSX closes the week lower by 1.50 per cent

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MUSCAT: MSX30 Index ended the week lower by 1.50 per cent. financial index ended the week down by 1.53 per cent. services index also ended the week lower by 1.86 per cent. industrial index closed higher by 0.58 per cent. The MSX Shariah Index closed down by 0.32 per cent.


Sohar Int Bank announced that they have obtained the regulatory approvals from the Central Bank of Oman and the Capital Market Authority for the Rights Issue of 1,600,000,000 shares at a price of 102 baisa per share (with share price of 100 baisa per share plus issue expenses of 2 baisa per share). Subscription for the Rights Issue is open to the shareholders whose names appear in the Bank's shareholder register with the MCD as on the record date. Persons who purchase the rights on the MSX within the trading period of the rights issue are also eligible to subscribe for the offer shares before the rights issue closes.


Bank Sohar issued RO 100 million Perpetual Tier 1 Capital Securities (the Securities) on September 25, 2017 at a fixed annual interest rate of 7.75 per cent. The securities are listed on the Muscat Stock Exchange (MSX) bond as BNK SOHAR PER.BND(BSPB) market BNK SOHAR Pursuant to clause 8.1(b) of the terms and conditions of the issuance in the Prospectus, the Bank hereby issues an irrevocable notice to the holders of the Securities that the Bank will exercise its call option to redeem all the Securities on 25 September 2022 (the Redemption Date) at their principal amount together with the interest accrued up to but not including the redemption date. (52 Following the redemption, the securities will be delisted from the MSX. Muscat Clearing and Depository (MCD) will process payments to holders of the Securities as per the records with MCD on September 25, 2022


The inflation rate in the Sultanate of Oman reached 2.6 per cent in July 2022, according to the latest data issued by the National Centre for Statistics and Information (NCSI). The data indicate a rise in the prices of main groups in July 2022 compared to July 2021, such as food and non-alcoholic beverages by 6 per cent, education by 5.1 per cent, health by 3.5 per cent, transport by 2.6 per cent, restaurants and hotels by 2.2 per cent, miscellaneous goods and services by 1.4 per cent, recreation and culture by 1.3 per cent, furniture, household equipment and routine household maintenance by 1 per cent, clothing and footwear by 0.9 per cent and housing, water, electricity, gas and other fuels by 0.6 per cent.


The total number of guests in hotel properties of the 3 to 5-star category in the Sultanate increased 45.4 per cent to 903,000 total (end July 2022), compared to 620,979 guests for the same period of 2021. The occupancy rate increased to 42.9 per cent, according to the latest monthly statistics released by the National Centre for Statistics and Information (NCSI) compared to 34.2 per cent last year. Total revenues of these hotels rose by 117.6 per cent to RO 95.332m YTD, compared to RO 43.820m during the same period of the previous year.


The total number of Small and Medium Enterprises (SMEs) registered in the Authority for Small and Medium Enterprises Development increased by 46.8 per cent in July 2022 compared to the same period 2021 to reach 81,460 compared to 55,491 in July 2021, according to the data released by the National Centre for Statistics and Information (NCSI). Among the governorates, the Muscat topped the list by reaching 27,399 enterprises, comprising a rise of 46.3 per cent, followed by North Al Batinah with 12,538, comprising an increase by 42.9 per cent, A’Dakhiliyah with 9,104, going up 33.3 per cent and Dhofar by 8,584, constituting a surge by 84.0 per cent compared to the same period in 2021. [Courtesy: U-Capital]


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