Business news briefs - 22 December

Mohamed Ahmed Al Dheeb named advisor to Raysut Cement board
MUSCAT: The board of directors of Raysut Cement Company has decided to relieve Mohamed Ahmed Al Dheeb from his duty as group CEO and to appoint him as an advisor to the board.  The board also decided to assign Salem Alawi Mohammed Baabood to be Acting Group CEO, until a new Group CEO is appointed for the group, said a disclosure statement posted on MSM website.

United Finance board accepts resignation of senior executive
MUSCAT: The board of directors of United Finance has accepted the resignation of Behram K Devecha as a board member and deputy chairman of the company. Similarly, Oman Chlorine board also said that Divecha has resigned from the company's board.

Nizwa to host Arab Consumer Federation meet
NIZWA: Oman Association for Consumer Protection, in conjunction with Nizwa University, will organise today (Sunday) the 15th Forum for the Arab Consumer Federation under the theme "Towards New Patterns for Consumer Protection." The two-day forum will discuss several themes pertaining to food security, legislative and health aspects, the role of media and journalism in supporting the consumer's issues, rights and duties of the consumer, rational consumption of electricity, water and telephone.

Central Bank of Oman issues CDs worth OMR401m

MUSCAT: Certificates of deposit tender was held at the Central Bank of Oman (CBO) this week. The total amount allotted for issue No. 846 was OMR401 million. A bulletin issued by the Central Bank of Oman  stated that the average interest rate of these certificates was 0.13 per cent whilst the maximum accepted interest rate was 0.13 per cent. The tenor of these certificates is 28 days, so their maturity date is on January 15. The repo rate during December 18 till 24 is one per cent.


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