GulfBase Live Support
Oman’s central bank raised OMR77 million by way of allotting treasury bills on Tuesday.
The treasury bills are for a maturity period of 28 days, from May 16 until June 13, 2018. The average accepted price reached 99.881 for every OMR100, and the minimum accepted price arrived at 99.880 per OMR100. Whereas the average discount rate and the average yield reached 1.55159 per cent and 1.55344 per cent, respectively.
The interest rate on the Repo operations with CBO is 3.184 per cent for the period from May 15, 2018 to May 21, 2018 while the discount rate on the Treasury Bills Discounting Facility with CBO is 2.018 per cent, for the same period.
The treasury bills are short-term highly secured financial instruments issued by the CBO on behalf of the Government, which helps the licensed commercial banks to gainfully invest their surplus funds, with added advantage of ready liquidity through discounting and repurchase facilities (Repo) offered by the Central Bank.
Further, treasury bills promote the local money market by creating a benchmark yield curve for short-term interest rates. Also, the Government (MOF) may also resort to this instrument whenever felt necessary for financing its recurrent expenditures.
Times of Oman
Although market conditions in Riyadh remain relatively unchanged this quarter, the governments’ continued focus on providing more affordable housing to drive home ownership amongst Saudi nationals wi
The 5 per cent VAT on commercial real estate must be paid prior to the completion of an asset sale, not afterwards, the UAE’s Federal Tax Authority (FTA) said on Wednesday.
In a statement
A delegation of Indian businessmen visited the Public Establishment for Industrial Estates (PEIE) on Wednesday in a bid to familiarise themselves with the investment climate in the Sultanate.
Times of Oman
Bondholders’ relief over a Gulf pledge to prop up Bahrain’s struggling economy has given way to anxiety now that three weeks have passed without any sign aid is on the way.
Saudi Arabia, Ku
Leading Dubai based banks, Emirates NBD, Emirates Islamic, Dubai Islamic Bank (DIB) and Mashreq reported strong growth in first half net profits supported by gains in core banking revenues.