BankMuscat rose to its highest level in almost two weeks after Oman's largest lender by market value reported a more than 18 per cent increase in third-quarter profit.
The bank recorded a net profit of 29.9 million rials for the quarter compared with 25.17m rials in the same period last year.
The stock, listed on the Muscat Securities Market, rose 0.6 per cent yesterday to 0.669 rials, its highest since October 2.
"We expect to increase our credit growth estimates going forward, which is driven by lending in big-ticket projects and the revival in the personal credit market in the country," said Kanaga Sundar, the head of research at Gulf Baader Capital Markets, a brokerage in Oman.
Mr Sundar has a "buy" rating on the stock with a target price of 0.909 rials.
Oman's benchmark was little changed at 5,515.76 points.
In the UAE, Emirates NBD reversed losses of earlier this week when Dubai's biggest lender announced plans to take over Dubai Bank.
Emirates NBD's shares, listed on the Dubai Financial Market (DFM), rose 1.1 per cent to Dh3.62.
The DFM General Index was little changed at 1,384.58.
In the capital, National Bank of Abu Dhabi declined 1.4 per cent to Dh10. The Abu Dhabi Securities Exchange General Index fell 0.3 per cent to 2,477.80.
Kuwait's index was up 0.3 per cent at 5,867.50, Bahrain's rose 0.2 per cent to 1,149.93, and Qatar's slipped 0.2 per cent to 8,396.53. The Saudi Tadawul All-Share Index was closed for the day.
halsayegh@thenational.ae
Company profile
Date started: January, 2014
Founders: Mike Dawson, Varuna Singh, and Benita Rowe
Based: Dubai
Sector: Education technology
Size: Five employees
Investment: $100,000 from the ExpoLive Innovation Grant programme in 2018 and an initial $30,000 pre-seed investment from the Turn8 Accelerator in 2014. Most of the projects are government funded.
Partners/incubators: Turn8 Accelerator; In5 Innovation Centre; Expo Live Innovation Impact Grant Programme; Dubai Future Accelerators; FHI 360; VSO and Consult and Coach for a Cause (C3)
UAE currency: the story behind the money in your pockets
Wicked: For Good
Director: Jon M Chu
Starring: Ariana Grande, Cynthia Erivo, Jonathan Bailey, Jeff Goldblum, Michelle Yeoh, Ethan Slater
Rating: 4/5
Going grey? A stylist's advice
If you’re going to go grey, a great style, well-cared for hair (in a sleek, classy style, like a bob), and a young spirit and attitude go a long way, says Maria Dowling, founder of the Maria Dowling Salon in Dubai.
It’s easier to go grey from a lighter colour, so you may want to do that first. And this is the time to try a shorter style, she advises. Then a stylist can introduce highlights, start lightening up the roots, and let it fade out. Once it’s entirely grey, a purple shampoo will prevent yellowing.
“Get professional help – there’s no other way to go around it,” she says. “And don’t just let it grow out because that looks really bad. Put effort into it: properly condition, straighten, get regular trims, make sure it’s glossy.”
Omar Yabroudi's factfile
Born: October 20, 1989, Sharjah
Education: Bachelor of Science and Football, Liverpool John Moores University
2010: Accrington Stanley FC, internship
2010-2012: Crystal Palace, performance analyst with U-18 academy
2012-2015: Barnet FC, first-team performance analyst/head of recruitment
2015-2017: Nottingham Forest, head of recruitment
2018-present: Crystal Palace, player recruitment manager
Fifa%20World%20Cup%20Qatar%202022%20
%3Cp%3E%3Cstrong%3EFirst%20match%3A%20%3C%2Fstrong%3ENovember%2020%0D%3Cbr%3E%3Cstrong%3EFinal%2016%20round%3A%20%3C%2Fstrong%3EDecember%203%20to%206%0D%3Cbr%3E%3Cstrong%3EQuarter-finals%3A%20%3C%2Fstrong%3EDecember%209%20and%2010%0D%3Cbr%3E%3Cstrong%3ESemi-finals%3A%20%3C%2Fstrong%3EDecember%2013%20and%2014%0D%3Cbr%3E%3Cstrong%3EFinal%3A%20%3C%2Fstrong%3EDecember%2018%3C%2Fp%3E%0A
Wicked
Director: Jon M Chu
Stars: Cynthia Erivo, Ariana Grande, Jonathan Bailey
BEETLEJUICE BEETLEJUICE
Starring: Winona Ryder, Michael Keaton, Jenny Ortega
Director: Tim Burton
Rating: 3/5
