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Oman Today
Transport Sectors Stay Solid in Face of Crises: Minister

          Muscat, Jun 8 (ONA) --- Dr. Ahmed bin Mohammed al-Futaisi, Minister of Transport, has said that the government of the Sultanate, under the leadership of His Majesty Sultan Haitham Bin Tarik, is sustaining the development of infrastructure that contributes to economic and social growth.          The development march, he explained, upgrades public transport, particularly the expansion of networks of roads and ports along Omani coastline, with emphasis on economically strategic ...

Omani Rial Exchange Rate Index Rises 1.9% till March 2020

      Muscat, June 8 (ONA)--- The effective exchange rate index of the Omani Rial rose by 1.9% to register 106.9 points by the end of March 2020, compared to 104.9 points by the end of March 2019.      The total currency issued until the end of March 2020 stood at RO1.76 billion, against RO1.63 billion issued in 2019, marking a rise by 7.9%, according to data released by the National Centre for Statistics and Information (NCSI).       The Sultanate registered an increase in narrow money supply (M1) by 10.3% to reach RO5.63 ...

The World Marks Ocean Day with Focus on Protection Action Plan

            Muscat, Jun 8 (ONA) --- The world marks on 8 June every year the World Oceans Day, with the aim of reminding everyone of the importance of the oceans role in our daily life.            Oceans contain more than 200 thousand species, but the actual numbers may be in millions and thus it is the world's largest source of protein. About 3 billion people depend on it as a major source of protein for them. More than 200 million people work directly or indirectly in ...

MSM Declines

Muscat, June 8 (ONA) --- Muscat Securities Market (MSM) general index (30) today lost (0.84) point, comprising a decline by (0.024%) to close at (3537,48) points, compared to the last session, which stood at (3538,32) points.       The trading value today stood at (RO1,614,306), comprising a rise by (3.55%), compared to the last session, which stood at (RO1,558,889).       The report released by MSM pointed out that the market value fell by (0.001%) to reach about (RO 18.38) billion.       The report added that the ...

Oman Oil Rises 2.30 US Dollars

The DME statement said that the price of Oman oil today rose 2.30 US Dollars from the price of last "Friday" which was 41.49 US Dollars.      The average price of Oman oil (June Delivery 2020) has stabilized at 23.65 US Dollars, thus 11.19 US Dollars per barrel lower than May Delivery ...

Government Institutions Award RO38 Million to Small, Medium Enterprises in 2019

Muscat, Jun.07(ONA) ---- The Government institutions awarded RO38 million tenders and procurement to small and medium enterprises registered in "Riyada" in 2019, representing 6.74% of the total spending in government tenders and procurement that were executed in 2019.  The share of the institutions that obtained the "Entrepreneur Card for fully owned projects by Omani nationals was RO16 million.    The government tenders and procurement data awarded to SMEs registered in "Riyada" in 2019, according to the analysis of data received from the Ministry of Finance, revealed that ...

ODP Enables Business Entities in Remote Operations during COVID-19 Crisis

        Muscat, Jun 7 (ONA) --- Oman Data Park (ODP) has enabled many government organisations, companies and banks operating in the Sultanate to re-organise their technical networks and main systems to operate them remotely with complete security and without any hindrance. It has been carried out to mitigate the effects on the security of electronic networks in line with the decisions of the Supreme Committee tasked with studying scopes for a mechanism to deal with developments resulting from Coronavirus ...

Standard Grade Petrol Production Falls 29 Percent

          Muscat, Jun 7 (ONA) --- Production of standard grade petrol (M-91) by Omani refineries fell by 29 percent at the end of April 2020, with the output falling to 3.76 million barrels compared to 5.27 million barrels produced in 2019.            The output of super grade petrol (M-95) reached 3.89 million barrels until the end of April 2020, compared to 4.30 million barrels, according to the data released by the National Centre for Statistics and Information ...

MSM Gains 20 Points

  Muscat, Jun 7 (ONA) --- Muscat Securities Market (MSM) general index (30) today added (20.7) points, comprising a rise by (0.589%) to close at (3538,32) points, compared to the last session, which stood at (3517,60) points.      The trading value today stood at (RO1,558,889), comprising a rise by (11.74%), compared to the last session, which stood at (RO1,395,095).     The report released by MSM pointed out that the market value rose by (0.150%) to reach about (RO 18.38) billion.        The report added that the value of ...

Private Sector Officials Praise Efforts of Commerce, Industry Ministry to Limit Covid-19 Spread

Muscat, Jun 6 (ONA) ---- A number of officials in the private sector praised the national efforts made by the Ministry of Commerce and Industry in cooperation with the relevant government agencies to limit the spread of coronavirus (Covid-19) pandemic.        They affirmed that the medicines in the Sultanate were manufactures at a steady pace, with the presence of the pharmaceutical factories that did not stop with the existing pharmaceutical industry, but rather surpassed towards for innovation and research.  They also praised the efforts made by the Omani factories ...

Commerce, Industry Ministry Supports Inventors

Muscat, Jun 6 (ONA) ---- The Ministry of Commerce and Industry is making great efforts to support inventors to conduct a preliminary search of their inventions and provide them with the research results, so that they can know the strength of their ideas and the possibility of protecting them by searching in documents similar or close to the idea in international databases in order to save effort, money and time for the owner of the idea.        This procedure reduces repeated ideas, focuses on new and qualitative ideas, and provides technical advice to inventors on ...

The Sultanate’s Hotels Revenue Falls 24% During March 2020

Muscat, Jun.06 (ONA) ---- The total revenue of the Omani hotels in the three-to-five-star category fell by 24% to RO54.2 million until the end of March 2020 compared to RO71.3 million for the same period of 2019.     However, hotel occupancy rates fell by 25% to reach 51.3% at the end of March 2020 against 68.4% for the same period in 2019, according the latest monthly statistics released by the National Centre for Statistics and Information (NCSI).      Meanwhile, the total number of guests in Omani hotels fell by 19.5% in the 3-month period of 2020, reaching ...

Private Deposits in Commercial Banks Grow by 8.8 Percent till March

Muscat, Jun.06 (ONA) ---- Total deposits held with ODCs registered a growth of 8.8 percent and stood at RO13,697.7 million at the end of March 2020, compared with RO12,708 million during the same period in 2019, according to the bulletin issued by the Central Bank of Oman (CBO).          The gross value for these deposits as of the end of March 2020 includes the time deposits that stood at RO4,612.3 million, savings deposits of RO4,927.3 million and demand deposits of RO3,931.9million, the report further added.       The bulletin ...

This Weeks Economic Bulletin..

MSM Rises 5 Points During May 2020         Muscat, Jun.06 (ONA) ---- Muscat Securities Market (MSM) general index (30) during May 2020 added (5.12) points, comprising a rise by (0.14%) to close at (3544,58) points, compared to (3539,46) points during April 2020.       The monthly bulletin released by MSM pointed out that the trading value during last May stood at (RO16,957,303), comprising a drop by (32.3%), compared to (RO25,066,212) during April 2020.     The market value of the companies listed on the MSM during May 2020 increased by ...

MSM Declines 17 Points

Muscat, Jun 4 (ONA) --- Muscat Securities Market (MSM) general index (30) today lost (17.41) points, comprising a decline by (0.493%) to close at (3517,60) points, compared to the last session, which stood at (3535,01) points.       The trading value today stood at (RO1,395,095), comprising a rise by (9.44%), compared to the last session, which stood at (RO1,274,758).       The report released by MSM pointed out that the market value fell by (0.168%) to reach about (RO 18.35) billion.       The report added that ...

Oman Oil Declines 89 Cents

    Muscat, Jun 4 (ONA) --- Dubai Mercantile Exchange (DME) said that Oman oil price (August Delivery 2020) reached 39.96 US Dollars.        The DME statement said that the price of Oman oil today declined 89 Cents from the price of yesterday " Wednesday”, which was 40.85 US Dollars.      The average price of Oman oil (June Delivery 2020) has stabilized at 23.65 US Dollars, thus 11.19 US Dollars per barrel lower than May Delivery ...

NTF, NYC Sign Cooperation Agreement

          Muscat, Jun 3 (ONA) ---- The National Training Fund (NTF) signed a cooperation agreement with the National Youth Commission (NYC) to facilitate the access of 600 job seekers to training opportunities in the private sector, by funding the first package of the pilot program for youth training "Khibrat" or "Expertise".              The agreement was signed by Sharifa Aidid, CEO of NTF and Dr. Sami bin Salim al-Kharousi, Chairman of NYC.             Signing ...

MSM Loses 5 Points

          Muscat, Jun 3 (ONA) --- Muscat Securities Market (MSM) general index (30) today lost (5.18) points, comprising a decline by (0.146%) to close at (3535,01) points, compared to the last session, which stood at (3540,19) points.       The trading value today stood at (RO274,758), comprising a rise by (103.57%), compared to the last session, which stood at (RO626,208).       The report released by MSM pointed out that the market value fell by (0.060%) to reach about (RO 18.38) ...

Oman Oil Price Rises 46 Cents

Muscat, Jun 3 (ONA) --- Dubai Mercantile Exchange (DME) said that Oman oil price (August Delivery 2020) reached 40.85 US Dollars.        The DME statement said that the price of Oman oil today rose 46 cents from the price of yesterday "Tuesday” which was 40.39 US Dollars.        The average price of Oman oil (June Delivery 2020) has stabilized at 23.65 US Dollars, thus 11.19 US Dollars per barrel lower than May Delivery ...

NBC Signs Incubation Pact with Science Traveler

      Muscat, Jun 1 (ONA) --- The National Business Centre (NBC), which falls under the umbrella of the Public Establishment for Industrial Estates – Madayn, signed an agreement to incubate Science Traveler Company.          Science Traveler provides wellbeing and self-development programmes integrated with engaging tourists’ experiences. The incubated company aims at contributing to the society by creating valuable experiences that inspire self-growth, wellbeing and prosperity.         NBC is an ...

CBO Announces Treasury Bills Tender Results

           Muscat, Jun 2 (ONA) --- A tender of Government Treasury Bills, issue number 96 was held at the Central Bank of Oman (CBO) this week.           The results of the issue are as follows: the total value of the allotted Treasury bills amounted to RO 11 million for a maturity period of 28 days, from tomorrow (Wednesday) until 1 July 2020.           The average accepted price reached 99.970 for every RO 100 while the minimum accepted price arrived at 99.950 ...

British Institution Hails the Sultanates ICT Tremendous Development

          London, Jun 2 (ONA) --- A report prepared by Intelligent CIO, a technology intelligence platform specializing in information technology solutions, praised the development witnessed by the Sultanate in the field of information and communication technology (ICT), which strengthens the government's efforts to diversify the national economy.        The report published today said that the Sultanate is at the forefront of digital transformation as one of the key initiatives for the country in line with its Vision 2040 and ...

MSM Gains 5 Points

           Muscat, Jun 2 (ONA) --- Muscat Securities Market (MSM) general index (30) today added (5.28) points, comprising a rise by (0.149%) to close at (3540,19) points, compared to the last session, which stood at (3534,91) points.       The trading value today stood at (RO626,208), comprising a drop by (29.69%), compared to the last session, which stood at (RO890,691).       The report released by MSM pointed out that the market value rose by (0.067%) to reach about (RO 18.40) ...

MSM Sets Back to Trading Session of 4 Hours

          Muscat, Jun 2 (ONA) --- Muscat Securities Market (MSM) today decided to set back to the previous trading session of 4 hours instead of 3 hours, as prior to the emergence of the Covid-19 pandemic, starting from next Sunday, 7 June 2020.        According to the decision No. 73/2020, the pre-opening session will start at 9.00 am and the continuous trading session at 10.00 am whereas the closing session will be at 02.00 pm. --- ...

Financial Circular Regulates Employment at Government Firms

            Muscat, Jun 2 (ONA) --- The Ministry of Finance today issued a Financial Circular No. (17/2020), to all government firms on the regulation of some aspects of employment.              The statement stipulates that, as per the Council of Ministers' decision at the Cabinet’s sitting No. (5/2020) on the regulation of some aspects of the labour market and employment policies at government firms (with a view to expediting recruitment rates and accommodating Omani job seekers), it has ...

Oman Oil Price Rises 77 Cents

        Muscat, Jun 2 (ONA) --- Dubai Mercantile Exchange (DME) said that Oman oil price (August Delivery 2020) reached 40.39 US Dollars.        The DME statement said that the price of Oman oil today rose 77 cents from the price of yesterday "Monday” which was 39.62 US Dollars.        The average price of Oman oil (June Delivery 2020) has stabilized at 23.65 US Dollars, thus 11.19 US Dollars per barrel lower than May Delivery ...

Insurance Sector Contributes to Government, Community Efforts to Combat Coronavirus Epidemic

Muscat, Jun 1 (ONA) —- Sheikh Abdullah Salim Al Salmi, Executive President of the Capital Market Authority (CMA) has commended the role insurance companies plays and their quick response with tangible and earnest steps of solidarity with the community and the economy in light of the exceptional circumstances in Oman and worldwide to confront the coronavirus epidemic, such as the national initiative of insurance companies to take part in the confrontation of the epidemic, curb its spread and to mitigate the consequence as part of the procedures taken by the Supreme Committee tasked with ...

Oman Crude Trades above $40/pb, First Time in Three Months

Dubai, Jun.01 (ONA) ---- The Dubai Mercantile Exchange (DME), the first international exchange in the Middle East for future energy contracts, announced that the prices of Oman crude oil have witnessed remarkable growth today for the first time in three months, as it was traded at a price of 40.09 dollars per barrel.    DME indicated that this is the first global crude oil trading contract that exceeds the barrier of $40 per barrel, since the beginning of the recovery in oil prices in early May.    It is noteworthy that the price of Omani oil for the delivery of next ...

MSM Loses 9 Points

      Muscat, Jun 1 (ONA) --- Muscat Securities Market (MSM) general index (30) today lost (9.67) points, comprising a decline by (0.273%) to close at (3534,91) points, compared to the last session, which stood at (3544,58) points.     The trading value today stood at (RO890,691), comprising a drop by (28.09%), compared to the last session, which stood at (RO1,238,579).     The report released by MSM pointed out that the market value fell by (0.110%) to reach about (RO 18.38) billion.     The report added that the value of shares bought by ...

CMA to Cover Medical Tests, Treatment Costs for Coronavirus Infected Expatriates

            Muscat, Jun 1 (ONA) --- The Capital Market Authority (CMA) has announced an initiative to cover medical tests and treatment costs for coronavirus (COVID-19) infected expatriates.              The move comes due to the importance of the role insurance companies are playing in providing community support as part of the efforts exerted by public and private sector institutions to deal with the epidemic (COVID-19).           The circular issued by the CMA ...