Muscat Securities Market News
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The Middle East and North Africa’s pipeline of initial public offerings may be improving after Saudi companies helped the region more than double sales this year to $2 billion, Ernst & Young International said.
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The Muscat Securities Market said there is a technical defect in its electronic trading program.
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The following companies may rise or fall in Gulf Arab markets. Stock symbols are in parentheses and prices are from the last close.
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Libyan rebels moved into the central city of Ajdabiya, recaptured Brega in the east and advanced toward the strategic oil port of Ras Lanuf, after U.S. and allied warplanes bombarded Muammar Qaddafi ’s tanks, artillery and soldiers along the coastline and near Tripoli.
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Oman’s Transport and Communications Ministry started work on a 55 million riyals ($143 million) project to expand the general cargo terminal and liquid jetty at Salalah Port, according to a filing on the Muscat Securities Market.
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Nawras, a communications provider in Oman, said its plans for an initial share sale and listing on the Muscat Securities Market remain on track and it will make further statements in coming weeks, according to an e-mailed statement.
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Saudi Arabia’s Tadawul All Share Index rose 0.2 percent to 6,467.61, the highest since Aug. 1, at the 3:30 p.m. close in Riyadh. Oman’s Muscat Securities Market Index rose 0.1 percent.
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Nawras, the phone company controlled by Qatar Telecom QSC , is seeking to raise as much as $608 million in Oman’s first initial public offering in two years.
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Dubai stocks increased for a third time this week as Dubai World, the state-owned holding company, agreed “in principle” with a group of creditor banks on terms to restructure $23.5 billion of liabilities.
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Libya’s National Transitional Council elected Abdurrahim el-Keib, a former electrical engineering professor at the University of Alabama, as the country’s interim prime minister.
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