MSX30 Index ended the week on a positive note by 2.41 per cent. All indices closed high for the week. The financial Index led by 2.69 per cent. Industrial Index and Services Index ended higher by 2.62 per cent and 0.61 per cent, respectively. The MSX Shariah Index closed up by 1.98 per cent.
In key announcements this past week, Development & Investment Company SAOC awarded to Galfar a tender for the “Construction for the Infrastructure, Grading and Earthworks at the Sustainable City Yiti”. The value of this project is approximately RO 9 million with an execution period of 15 months.
The newly listed Barka Desalination Company announced BOD resolution proposal to pay in April 2022 and October 2022 a total DPS not exceeding RO 0.012 per share.
Oman telecom sector data for January 2022 reveals that fixed line subscribers are down -4.0 per cent Y-o-Y while mobile subscribers are down -2.2 per cent. Within mobile, prepaid subscribers are down -7.1 per cent while postpaid are higher by 23 per cent Y-o-Y. Active Mobile broadband subscribers were down -2.6 per cent Y-o-Y. Penetration levels are lower at the end of January 2022 as compared to January2021.
The Sultanate’s consumption of natural gas dropped by 4 per cent year-on-year in the first month of 2022. compared to the same period of last year. Total production of natural gas declined to 3,862mn cubic metres (mncm) in January 2022 against 4,019mncm in the corresponding period of 2021.
More than 183,000 transactions have been handled through the ‘Invest Easy’ portal in 2021, representing a growth of 178.8 per cent over the previous year’s total of 65,705 transactions, according to the Ministry of Commerce, Industry and Investment Promotion. In a statement to ONA, the Ministry said the applications for various service were received via its offices (14,247), through its departments and directorates (48,452), through self-service avenues (36,662), via portals operated by the Sohar, Duqm and Al Mazyuna free zones), through law firms (478), and by Sanad offices (81,898 transactions).
The Ministry of Housing and Urban Planning signed 11 agreements with various companies and private establishments worth RO20 million. Five of the agreements were inked within the framework of the Food Security Lab, while the other 6 are land usufruct (lease) agreements to set up agricultural projects. Those projects will provide the agricultural needs of the Sultanate of Oman in a scientific, modern and innovative manner that complies with food security regulations.
His Majesty Sultan Haitham bin Tarik issued two Royal Decrees as follows: Royal Decree No. 10/2022 establishes free zones at Muscat International Airport and in the airports of Sohar and Salalah. Article (1) states that free zones shall be established as follows: 1.A free zone at Muscat International Airport to be named “Muscat International Airport Free Zone”. 2.A free zone at Sohar Airport to be named “Sohar Airport Free Zone”. 3.A free zone at Salalah Airport to be named “Salalah Airport Free Zone”. The free zones will be set up in the designated land plot according to the layouts attached, which are specified in the concluded concession agreements.
GCC records net foreign flows of $3.09bn in January 2022 compared to $3.17bn in December 2021. Net foreign flows in all countries were positive except for Oman. Net foreign flows was led by Saudi Arabia at $1.953bn followed by Qatar at $539.5mn and Abu Dhabi at $363.7mn. [Courtesy: U-Capital]
