Sustained profit taking dragged down the MSM30 Index by 0.51 per cent to end the session at 5,948.56 points. The MSM Sharia Index closed at 887.32 points, up by 0.05 per cent. OIFC was the most active in terms of volume while Oman Cables led in terms of turnover.
According to a recent Bloomberg report, Investec Bank’s aviation arm made its first foray into financing the Airbus Group A380 superjumbo with a deal to purchase four jets operated by Emirates before leasing them back to the Dubai-based carrier.
As stated in the World Bank’s Global Economic Prospects report, the global growth disappointed again in 2015, and is expected to recover at a slower pace than previously forecast. “More than 40 per cent of the world’s poor live in the developing countries where growth slowed in 2015,”… said World Bank group president Jim Yong Kim. Growth fell short of expectations in 2015, to 2.4 per cent, from 2.6 per cent in 2014.
Leading financial services provider Bank Muscat has partnered with the GCC New Age Banking Summit 2016, to be held at the Crowne Plaza in Muscat, Oman on 23 May this year.
Building on existing strong trade and investment ties, a top-flight delegation led by the Public Authority for Investment Promotion and Export Development (Ithraa), Oman’s inward investment and export development agency, will head for Paris next week to conduct a three-day Invest in Oman Roadshow.
The Reuters reports that Saudi Arabian construction company Saudi Binladin Group has laid off about 77,000 foreign workers and plans to cut thousands of jobs held by Saudi nationals.
Meethaq, the pioneer of Islamic banking in Oman from Bank Muscat, hosted the first focus group meeting aimed at familiarising and obtaining feedback from customers on products and services offered by the leading Islamic banking service provider in the Sultanate.
Islamic banking entities provided financing to the extent of RO1.85 billion as at the end of February 2016 when compared to RO1.1 billion a year ago.
Apollo Hospital Muscat, which was recently upgraded into a fully-fledged hospital with world Class facilities, was officially inaugurated on Wednesday.