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‘Wadeem’ sold out for $1.49bn

This is the highest Abu Dhabi real-estate release to date.

Tesla Q2 sales down 13.5%

Shares rally after the disclosure, better than some forecasts.

TomTom cuts 300 jobs

The firm said it was realigning its organization as it embraces AI.

Aldar nets $953m in sales at Fahid

Aldar said 42 percent of the buyers are under the age of 45.

Qualcomm to Alphawave for $2.4 bn

The deal makes Alphawave the latest tech company to depart London.

Muscat raises foreign ownership in joint stock companies to 100%

The move has increased the percentage of investments available to foreigners by 78 percent.
By TRENDS Desk
March 14, 2022 12:40 pm
  • The decision to raise the percentage of foreign investment in public companies is one of the most important steps to include the market in global emerging market indices
  • Oman plans to list 35 state-owned companies in the next five years, with a focus on listing one or two firms from the oil sector during the current year

The Muscat Stock Exchange has raised the limits of foreign ownership in joint stock companies to 100 percent, as part of its completion of the technical requirements to access emerging markets.

The decision to raise the percentage of foreign investment in public companies is one of the most important steps to include the market in global emerging market indices, Oman’s bourse CEO told the media.

The move has increased the percentage of investments available to foreigners by 78 percent, Haitham bin Salem Al Salmi added, noting that foreign trading represents 14.5 percent of the total trading in the Muscat Stock Exchange.

In addition, Oman plans to list 35 state-owned companies in the next five years, with a focus on listing one or two firms from the oil sector during the current year, CNBC Arabia reported citing the bourse’s CEO.

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