MUSCAT: MSX30 Index ended the week higher by 1.24%. The Financial Index was higher by 1.50%, the Services Index also ended the week up by 0.66%. The Industrial index closed down by 0.31%. The MSX Shariah Index went up by 0.39%.
Bank Muscat and Galfar Engineering and Contracting Company have signed an agreement for a RO 39mn financing facility. Through this agreement, Bank Muscat will provide Galfar with additional project-specific credit facilities of nearly RO 39mn, the bank said in a press statement. The agreement was signed by Ahmed Faqir al Bulushi, chief banking officer of Bank Muscat and Dr Hamoud al Tobi, CEO of Galfar, in the presence of Ilham Murtadha al Hamaid, general manager – corporate banking at Bank Muscat and senior officials from both institutions. Bank Muscat noted that Galfar is one of its largest and oldest corporate customers with a relationship spanning decades.
The Sultanate of Oman and the United Arab Emirates (UAE) signed at Al Alam Palace the following 16 agreements and memorandums of understanding in various areas. This came within the context of the current state visit of Shaikh Mohammed bin Zayed al Nahyan, UAE President to the Sultanate of Oman.
• MoU was signed in the field of energy between the Ministry of Energy and Minerals in Oman and the Ministry of Energy and Infrastructure in the UAE.
• MoU in the field of cooperation on transport and logistics was also inked between the Ministry of Transport, Communications and Information Technology in Oman and the Ministry of Energy and Infrastructure in the UAE.
• MoU in the field of maritime transport was inked between the Ministry of Transport, Communications and Information Technology in Oman and the Ministry of Energy and Infrastructure in the UAE.
• MoU for cooperation and investment in fields of industry was also signed between the Ministry of Commerce, Industry and Investment Promotion in Oman and the Ministry of Industry and Advanced Technology in the UAE.
• In the fields of culture and youth, the Ministry of Culture, Sports and Youth in Oman and the Ministry of Culture and Youth in the UAE signed an MoU.
• The Ministry of Agriculture, Fisheries and Water Resources in Oman and the Ministry of Climate Change and Environment in the UAE also signed aan MoU on cooperation in areas of agriculture, livestock, fisheries and food safety.
• In the field of higher education, research, innovation and vocational training, an MoU was signed between the Ministry of Higher Education, Research and Innovation in Oman and the Ministry of Education in the UAE.
• Meanwhile, the Ministry of Information, represented by Oman News Agency (ONA), signed an MoU with Emirates News Agency (WAM) in the field of news and information exchange.
• In the field of cooperation in exchanging information related to money laundering and its predicate offence and the financing of terrorism, a memorandum of understanding was signed between the National Center for Financial Information in Oman and the UAE Financial Intelligence Unit
• A cooperation agreement was also signed between Oman Rail and Etihad Rail.
• An MoU was signed between the Omani Group for Communications and Information Technology 'ITHCA Group' and Abu Dhabi Development Holding Company.
• An MoU was also signed between Muscat Stock Exchange and Abu Dhabi Securities Exchange.
• An agreement was also signed for the remote trading of brokerage companies through electronic trading (Tadawul).
• In the field of dual-listing of securities, an agreement was signed between Muscat Stock Exchange and Abu Dhabi Securities Exchange.
• A memorandum of cooperation was signed between Muscat Clearing and Depository Company and Abu Dhabi Securities Exchange Company
[Courtesy: U-Capital]
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