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It said today (November 20th) that a 150 million rial ($389.6 million) fund will see 60 per cent of the money provided by the government, with the remaining portion being met by the private sector and pension funds, Reuters reports.
The fund will be used in both selling and investing in stock on the Omani stock exchange. The government said it hoped the money would help to improve liquidity and calm the turbulence seen on the bourse in recent weeks.
A statement from officials read: "The government hopes the creation of this fund will return confidence in the investment climate."
Meanwhile, the London stock market fell by 2.25 per cent to less than 4,000 points shortly after stock market trading opened today following losses in both Asia and on Wall Street over the economic downturn, the AFP reports.
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