News

         Muscat, Jan 8 (ONA) --- The Sultanate’s total production of crude oil and condensate throughout December 2019 reached (30,084,446) barrels, with a daily average of (970,466) barrels, said the monthly report published by the Ministry of Oil and Gas (MOG).                  The total exported quantities of the Sultanate's crude oil during December 2019 reached (28,561,083) barrels, with a daily average of (921,325) ...

          Muscat, Jan 8 (ONA) --- Muscat Securities Market (MSM) general index (30) today lost (3.90) points, comprising a decline by (0.099%) to close at (3944.48) points, compared to the last session, which stood at (3948.38) points.           The trading value today stood at (RO 584,154), comprising a drop by (44.8%), compared to the last session, which stood at (RO 1,058,784).            The report released by MSM pointed out that the market value fell by (0.027%) to reach ...

Muscat, Jan 8 (ONA) --- Dubai Mercantile Exchange (DME) said that Oman oil price (March Delivery 2020) reached 69.92 US Dollars.        The DME statement said that the price of Oman oil today rose 84 cents from the price of yesterday "Tuesday," which was 69.08 US Dollars.         The average price of Oman oil (January Delivery 2020) has stabilized at 62.81 US Dollars, thus 2.55 US Dollars per barrel higher than December Delivery ...

Riyadh, Jan.07 (ONA) ---- Dr. Saud bin Abdulaziz al-Mishari, Secretary-General of the Federation of the Gulf Cooperation Council Chambers (FGCCC) announced that the Federation will organize many economic activities and events in 2020, the most prominent of which the 5thIndian-Gulf Industrial Forum during the period April 1st-2nd, to be held in the Republic of India, in addition to Made in the GCC meeting and exhibition, during the period from April 6th-8th, to be held in the  Sultanate, Social Responsibility conference and exhibition in April in the Kingdom of Saudi Arabia, the ...

          Muscat, Jan 7 (ONA) --- Muscat Securities Market (MSM) general index (30) today lost (3.41) points, comprising a decline by (0.086%) to close at (3948.38) points, compared to the last session, which stood at (3951.79) points.           The trading value today stood at (RO 1,058,784), comprising a rise by (104.2%), compared to the last session, which stood at (RO 518,486).             The report released by MSM pointed out that the market value fell by (0.041%) to reach ...

Muscat, Jan 7 (ONA) --- Dubai Mercantile Exchange (DME) said that Oman oil price (March delivery 2020) reached today 69.08 US Dollars.          The DME statement today said that the price of Oman oil declined 1.37 US Dollar from the price of yesterday "Monday," which was 70.45 US Dollars.       The average price of Oman oil (January Delivery 2020) has stabilized at 62.81 US Dollars, thus 2.55 US Dollars per barrel higher than December Delivery 2019.   --- ...

Muscat, Jan 7 (ONA) --- A tender of Government Treasury Bills, issue number 506 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 40 million, for a maturity period of 91 days, from tomorrow Wednesday until 8 April 2020.   The average accepted price reached 99.528 for every RO 100 while the minimum accepted price arrived at 99.525 per RO 100. The average discount rate and the average yield reached 1.89269% and 1.90166% respectively.   The interest rate on ...

     Muscat, Jan.06 (ONA) ---- Main Committee of the Sultan Qaboos Award for Industrial Excellence has held a meeting at the Ministry of Commerce and Industry building to discuss the evaluation results submitted by the evaluation committee and the approval of the industrial enterprises nominated for the award.    The meeting was chaired by Eng. Ahmed bin Hassan al-Dheeb, Undersecretary of the Ministry of Commerce and Industry in the presence of members of the committee from the Royal Oman Police, Oman Chamber of Commerce and Industry and the Public Establishment ...

           Muscat, Jan 6 (ONA) --- Muscat Securities Market (MSM) general index (30) today lost (41.09) points, comprising a decline by (1.029%) to close at (3951.79) points, compared to the last session, which stood at (3992.88) points.            The trading value today stood at (RO 518,486), comprising a rise by (26.8%), compared to the last session, which stood at (RO 408,828).           The report released by MSM pointed out that the market value fell by (0.223%) to ...

Muscat, Jan 6 (ONA) --- Sultan Qaboos University (SQU) and Space Communications Technologies Company signed a cooperation program to build competencies and develop capabilities in space communication technologies engineering.       The program was signed by Dr. Ali bin Saud Al Bimani, SQU Vice Chancellor and Eng. Salem bin Saeed Al Alawi, General Manager of the Space Communications Technologies Company.         The signing of the program formalizes the cooperation between SQU, represented by the College of Engineering and the Space ...

Muscat, Jan 6 (ONA) --- Dubai Mercantile Exchange (DME) said that Oman oil price (March Delivery 2020) reached 70.45 US Dollars.    The DME statement said that the price of Oman oil today rose 1.83 US Dollar from the price of last "Friday," which was 68.62 US Dollars.    The average price of Oman oil (January Delivery 2020) has stabilized at 62.81 US Dollars, thus 2.55 US Dollars per barrel higher than December Delivery ...

       Muscat, Jan.05 (ONA) ---- The Oman Convention and Exhibition Centre seeks to promote economic diversification and put the Sultanate as the most important destination for events in the world.  The centre hosted in 2019 more than 230 different activities with an increase in the percentage of reservations by 36 percent compared to 2018.      The Centre has succeeded in receiving more than 800 thousand visitors from more than 100 different nationalities around the world in exhibition halls amounting to more than 105 thousand square meters.   ...

Salalah, Jan.05 (ONA) ---- Salalah Free Zone (SFR) today celebrated the opening of Oman Dairy Products factory and signed a number of agreements and memoranda of understanding for new projects on the free zone.    The pacts included a land development agreement for the setting up of a urea products unit, another agreement to lay the foundation stone of a steel industries unit, a third agreement for the setting up of a bus assembly unit and a fourth agreement to set up a new water and beverages unit.    The memoranda of understanding signed by Salalah Free Zone included ...

       Muscat, Jan 5 (ONA) --- Oman Air, the national carrier of the Sultanate of Oman, announced that it achieved one of its best ever On-Time-Performance (OTP) rate of 90 per cent over the past calendar year of 2019.         This metric measures the airline’s flight punctuality – important criteria amongst customers, particularly frequent international air travellers, when selecting an airline to fly with. Oman Air’s achievement of 90 per cent for 2019 makes it one of the best performing airlines globally in terms of ...

          Salalah Jan 5 (ONA) --- Oman Towers Company (OTC) and Oman Future Telecommunications Company (Vodafone Oman) signed at Al Baleed Resort Salalah by Anantara today the main agreement to use the infrastructure of the inactive telecommunication towers under the patronage of Eng. Azza bint Sulaiman al-Ismaili, Minister of Technology and Communications.            As per the agreement, OTC will provide telecommunication towers for Vodafone Oman’s global mobile networks, in parallel with plans to deploy the ...

          Muscat, Jan 5 (ONA) --- Muscat Securities Market (MSM) general index (30) today lost (12.18) points, comprising a decline by (0.304%) to close at (3992.88) points, compared to the last session, which stood at (4005.06) points.           The trading value today stood at (RO 408,828), comprising a drop by (70.1%) compared to the last session, which stood at (RO 1,367,662).            The report released by MSM pointed out that the market value ...

Muscat, Jan.04 (ONA)  ---- The main index of Muscat Securities Market (MSM) has cut its losses to 342 points in 2019 as against 775 points in 2018.  This is the third year in a row for MSM index to close on a low.    Over the past three years, MSM lacked local incentives in the backdrop of persisting oil price fluctuations.  Last year's dealings reflected a number of local developments that impacted the money market negatively, including a decrease in performance of various public stock companies listed on the MSM.    Most global and GCC securities ...

Muscat, Jan.04 (ONA) ---- Islamic banking entities provided financing to the extent of RO3.9 billion as at the end of October 2019 when compared to RO3.5 billion a year ago, according to the bulletin released by the Central Bank of Oman (CBO).     Total deposits held with Islamic banks and windows also registered a significant increase to RO3.4 billion in October 2019 from RO3.2 billion outstanding as at the end of October 2018.     The total assets of Islamic banks and Windows combined, amounted to RO4.8 billion as at the end of October 2019 which constituted ...

CBO Total Foreign Assets Rose by 2.9 Percent October End 2019        Muscat, Jan.04 (ONA) ---- The effective exchange rate index of Omani Rial fell by 0.4% to 105.2 points as of the end of October 2019 compared to 105.6 points in the same period of 2018.     The Sultanate registered a 0.3% fall in narrow money supply (M1) to reach RO5.03 billion by the end of October 2019.  Meanwhile, broad Money Supply (M2) rose by 5.2% to reach RO17.52 billion during the period as against RO16.65 billion the previous year, according to data released by the National ...

Muscat, Jan.02 (ONA) ----The Ministry of Commerce and Industry confirmed its support for traders and suppliers for the direct import of products from countries of origin, noting that the Sultanate possesses the capabilities of ports, airports and land outlets that allow institutions and individuals to import directly from any country without the need for commercial brokers.    Mubarak bin Mohammed al- Dohani, Director General of Commerce at the ministry said," In order to make it easy for importers and exporters, the ministry has canceled all the provisions of the exclusive agent ...

         Muscat, Jan 2 (ONA) --- Muscat Securities Market (MSM) general index (30) today gained (6.2) points, comprising a rise by (0.15%) to close at (4005.06) points, compared to the last session, which stood at (3998.88) points.                           The trading value today stood at (RO 1,367,662), comprising a decline by (48.2%) compared to the last session, which stood at (RO 2,638,504).         The report released by ...

Muscat, Jan 2 (ONA) --- Dubai Mercantile Exchange (DME) said that Oman oil price (March Delivery 2020) reached 66.30 US Dollars.  The DME statement said that the price of Oman oil today rose 56 cents. The average price of Oman oil (January Delivery 2020) has stabilized at 62.81 US Dollars, thus 2.55 US Dollars per barrel higher than December Delivery 2019.   —- ...

 Muscat, Jan 1 (ONA) --- The Ministry of Finance (MOF), in coordination with the Supreme Council for Planning (SCP) today issued the statement on the State’s General Budget for the fiscal year 2020. This statement presents key financial and economic indicators for FY 2020, and the preliminary results of FY 2019. This is in order to ensure transparency and to inform the citizens, investors, domestic and international institutions of Oman’s fiscal policy for FY 2020.             The State’s General Budget is the main economic ...

Muscat, Jan 1 (ONA) --- The Sultanate of Oman achieved high rates in the Human Development Index (HDI) 2019 issued by the United Nations Development Program (UNDP).        The country climbed up one notch over its position last year to be ranked 47th position globally out of 189 countries and fifth position among the Arab and Gulf countries, maintaining its global classification as one of the very high human development countries.            The National Centre for Statistics and Information (NCSI) pointed out that the ...

Muscat, Jan 1 (ONA) --- Muscat Securities Market (MSM) general index (30) today gained (17.69) points, comprising a rise by (0.444%) to close at (3998.88) points, compared to the last session, which stood at (3981.19) points.      The trading value today stood at (RO 2,638,504), comprising a decline by (16.80%) compared to the last session, which stood at (RO 3,171,190).                The report released by MSM pointed out that the market value rose by (0.122%) to reach about (RO 18.79) ...

Muscat, Jan 1 (ONA) --- The Ministry of Commerce and Industry will begin receiving applications for the registration of establishments and companies subject to the Foreign Capital Investment Law starting from tomorrow(Thursday). The law will play an important role in attracting foreign investments and capital flows within the Sultanate.            The Ministry confirmed its readiness to receive applications to register establishments and companies subject to the Foreign Capital Investment Law through the Investment Services Center, departments of ...

Sur, Jan 1 (ONA) --- Oman Industry Week Organizing Committee met today with the industrialists based at Sur Industrial City to highlight details of the upcoming Oman Industrial Products Exhibition.          The exhibition will be held from 9-11 February, 2020 in line with Oman Industry Week 2020.                 Mohsin bin Khamis Al Balushi, Advisor at the Ministry of Commerce and Industry, stated that Oman Industrial Products Exhibition will provide an ideal platform to promote Omani ...

Muscat, Jan 1 (ONA) --- Oman Tourism Development Company (OMRAN Group), the executive arm of the Sultanate for tourism development, today announced the soft opening of JW Marriott Muscat.               This announcement marks the opening of the Sultanate’s first JW Marriott hotel and the second hotel within the Oman Convention & Exhibition Centre (OCEC) precinct at Madinat Al Irfan.         JW Marriot Muscat is the latest addition to OMRAN Group’s hotel portfolio which aims to boost the ...

         Muscat, Dec 31 (ONA) --- The Sultanate’s oil production, including condensates, stood at 324.3 million barrels till the end of November 2019, compared to 326.3 million barrels, according to the latest data released by the National Centre for Statistics and Information (NCSI).            Of the total production, crude oil production was down by 3% at 281.3 million barrels while condensates production rose by 18.7% to touch 42.9 million barrels.             Oman ...

        Muscat, Dec 31 (ONA) --- AMAN REIF (Under Formation) has announced the launch of its IPO, commencing from Thursday, 2 January 2020 for a period of 15 days, till 16 January 2020.            This announcement was revealed during a press conference held on Tuesday, 31 December 2019 at Grand Millennium Muscat Hotel, in the presence of several Fund officials.             Abdul Samad al-Maskari, CEO of “Thara Global Business LLC”- the Financial Advisor and ...