Oman bourse reopens

by Reuters Monday, 11 June 2007

Oman's stock market will reopen today after being closed for three trading days because of Cyclone Gonu, the bourse said yesterday.

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The market was closed on Wednesday and Thursday as the cyclone ripped through the country. It remained shut on Sunday because brokerage companies are not "able to practice trading from their offices due to the current circumstances," the bourse said, without giving more details.
"There is no electricity in the area," Ahmed al-Houthi, head of media relations at the bourse, said earlier on Sunday. Technicians were working on reconnecting the power, he said from Muscat.

Meanwhile, Oman's stock market regulator called on listed companies to report any damage they may have suffered because of Cyclone Gonu, the Omani news agency ONA reported.

It quoted a senior official of the Capital Market Authority as saying "it is necessary for companies to urgently report ... any such losses and their impact on the financial stats of the company ... and whether they are covered by insurance".



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