Sultanate of Oman: creation of a fund of 390 million USD to invest in stock market

Sign of the times? Coincidence of timing?

While Nicolas Sarkozy is fair to say that the Strategic Investment Fund French was ready to "have alliances with other sovereign foreign government of the Sultanate of Oman announced Thursday its intention to establish a fund with 150 million riyals (390 million dollars) to invest in the local stock market. Daily Finance and Investment Tips / Make Money by Learning

In a joint Omani Stock Exchange, Muscat Securities Market, the Minister of Commerce and Industry of Oman, Makboul bin Ali bin Sultan, said that the government would participate at 60% of the equity funds, rest being shared by the private sector and pension funds.
The ministry has already asked banks and other institutions to participate in the fund that must operate on commercial basis in order to regulate the stock market and to avoid large fluctuations.

According to the release, the government hopes that the establishment of this fund will "restore investor confidence and strengthen the stock market to play its role in development.

A seemingly boosted by the announcement, the Omani market was up sharply Thursday, gaining 3% in the meeting,

Note also that Oman is in talks with BAE Systems to buy up to 24 Eurofighter Typhoon fighter. A contract that could reach 1.4 billion pounds (1.7 billion euros).

According to the Financial Times du13 November, citing sources close to British defense negotiations, the sultanate wants to replace four years of its 24 aging Jaguar fighters.

Such a contract would provide billions of euros of maintenance and technical support to the British group.