Oman's benchmark rises on spending plan

Market Update: Oman's index rises after finance ministry officials says there are plans to boost spending by 9 per cent in 2012.

Oman's benchmark rises on Wednesday after a senior finance ministry official said on Tuesday there are plans to increase government spending by 9 per cent in 2012 from this year to finance construction projects and create more jobs for national.

The MSM 30 Index was up 0.4 per cent to 5513.83 points at 12 pm Abu Dhabi time.

In the UAE,the Abu Dhabi Securities Exchange was up 0.2 per cent to 2583.52 points.

Arkan Building Materials was up 2.4 per cent to Dh1.27 a share. Dana Gas rose 0.8 per cent to Dh1.20.

Dubai's benchmark, the Dubai Financial Market General Index was down 0.1 per cent to 1456.80 points on low volumes.

Elsewhere in the region, Kuwait's measure was little changed at 5768.10 points. Bahrain's index was down 0.2 per cent to 1262.23 points. Qatar's index added 0.1 per cent to 8137.37 points. The Saudi Tadawul All-Share Index was little changed at 5920.73 points.

Published: August 24, 2011 04:00 AM


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