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Gulf Stocks: Mobile Telecommunications, National Bank of Oman

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March 23 (Bloomberg) -- Dubai’s DFM General Index rose 0.6 percent to 1,529.4 at the 2 p.m. close in the emirate, the highest level since Feb. 20. Kuwait’s measure decreased 0.6 percent, while Oman’s MSM 30 Index increased 0.1 percent.

The following stocks rose or fell in the Gulf. Symbols are in parentheses.

Mobile Telecommunications Co. (ZAIN KK) climbed to the highest in almost a week, gaining 1.5 percent to 1,340 fils. The Kuwaiti phone company known as Zain signed $1.3 billion of syndicated loans, two people with knowledge of the deal said. The financing includes a $866.7-million one-year revolving credit line that can be extended by as much as two years, and a $433.3 million one-year term loan, said the people, who declined to be identified.

National Bank of Oman SAOG (NBOB OM) advanced a third day, rising 2 percent to 0.306 rial. The sultanate’s second-biggest lender by market value said shareholders approved a plan to sell bonds under a $600-million euro medium-term note program.

To contact the reporter on this story: Zahra Hankir in Dubai at zhankir@bloomberg.net

To contact the editor responsible for this story: Claudia Maedler at cmaedler@bloomberg.net

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