News

CBO Board of Governors Convenes its First Meeting for 2023Muscat, 30 Mar (ONA) —- The Board of Governors of the Central Bank of Oman (CBO) convened its first meeting for the current year (2023) at CBO’s Knowledge Oasis building today.The Board reviewed the economic and financial developments in the Sultanate of Oman and the world in general, as reports and studies concluded that the financial position of CBO and the entities under its regulation and supervision remained unaffected by the recent global financial repercussions. The Board still underlined the importance of continuous ...

MSX Gains 8 Points Muscat, 30 Mar (ONA) --- Muscat Stock Exchange (MSX) general index (30) today gained (8.8) points, comprising a rise by (0.18%) to close at (4863.09) points, compared to the last session, which stood at (4854.31) points. The trading value today stood at (RO 3,192,227), comprising an increase by (37.5%), compared to the last session, which stood at (RO 2,322,079). The report released by MSX pointed out that the market value went up by (0.081%) to reach about (RO 23.86) billion. The report added that the value of shares bought by non-Omani investors reached ...

Oman’s OQ Group Reports Historic Financial, Operational Performance in 2022Muscat,30 Mar (ONA) —- Oman’s OQ Group today announced its full-year 2022 financial performance results, reporting the highest net profit in the Group’s history.The record performance was driven by strong operational performance in the majority of the Group’s businesses and an advantageous market environment.In 2022, the Global Integrated Energy Group recorded a consolidated revenue, adjusted EBITDA and net profit of USD 39.126 billion, USD 6.179 billion, and USD 3.850 billion, respectively.The Group’s ...

Oman Oil Price Drops 44 Cents Muscat, 30 Mar (ONA) --- Oman oil price (May Delivery 2023) today reached 77.20 US Dollars, comprising a drop by 44 cents from the price of yesterday (Wednesday), which was 77.64 US Dollars. The average price of Oman oil (March Delivery 2023) has stabilized at 80.92 US Dollars per barrel, thus 3.49 US Dollars per barrel higher than February Delivery ...

Oman channels Financial Surplus to Reduce Public Debt by RO 1.1 Billion During First Quarter of 2023Muscat, 29 Mar (ONA) --- The Sultanate of Oman today prepaid part of the government loans, about (USD 1.5 billion), before their maturity date.In total, the government managed to reduce by the end of the first quarter of 2023 an estimated of about RO 1.1 billion, or USD 2.8 billion, without resorting to re-financing. This includes USD 1.3 billion bond repaid by the government in January 2023.The public debt is down to about RO 16.6 billion by the end of March 2023, compared to RO 17.7 ...

Ministerial Circular Grants Priority to Local Firms in Digital Transformation ProjectsMuscat, 29 Mar (ONA) --- The Ministry of Transport, Communications and Information Technology issued a ministerial circular to all units of the State's Administrative Apparatus stating that all companies shall be given an opportunity when these units issue tenders for government digital transformation projects. The circular stressed that priority shall be granted to local technology companies.The Ministry explained that local technology companies may compete towards the implementation of government ...

Oman Participates in Seatrade Cruise Global Exhibition in United StatesFlorida, 29 Mar (ONA) --- Represented by the Ministry of Heritage and Tourism, the Sultanate of Oman is currently taking part in Seatrade Cruise Global exhibition being held in the city of Lauderdale, Florida, United States. The expo specializes in the cruise ship sector. Oman’s participation in the event offers an opportunity to meet leaders of firms operating international cruise ships and decision makers. The expo sees a large turnout of CEOs, service providers of cruise ships and yachts, ...

MSX Drops 4 Points Muscat, 29 Mar (ONA) --- Muscat Stock Exchange (MSX) general index (30) today lost (4.4) points, comprising a drop by (0.09%) to close at (4854.31) points, compared to the last session, which stood at (4858.67) points. The trading value today stood at (RO 2,322,079), comprising a rise by (19.98%), compared to the last session, which stood at (RO 1,935,341). The report released by MSX pointed out that the market value went down by (0.036%) to reach about (RO 23.84) billion. The report added that the value of shares bought by non-Omani investors reached (RO ...

Oman Ranks as World’s No. 1 in Express Mail Service in 2022Muscat, 29 Mar (ONA) --- The Sultanate of Oman was rated as the topmost country in the world in the field of express mail service during 2022. The classification stems from Oman’s standing among member states of the Universal Postal Union, which includes 190 countries.Oman Post, the national postal services operator affiliated to Asyad Group, succeeded in regularly enhancing its competitiveness and upgrading its services over the past few years.It provides various packages of “express mail delivery solutions to the ...

Oman Oil Price Rises 3 Cents Muscat, 29 Mar (ONA) --- Oman oil price (May Delivery 2023 ) today reached 77.64 US Dollars, comprising a rise by 3 cents from the price of yesterday (Tuesday), which was 77.61 US Dollars. The average price of Oman oil (March Delivery 2023) has stabilized at 80.92 US Dollars per barrel, thus 3.49 US Dollars per barrel higher than February Delivery ...

ASEAN Countries’ Ambassadors to Oman Visit ‘Invest Oman Lounge’ Muscat, 28 Mar (ONA) — A delegation of ambassadors of ASEAN countries accredited to the Sultanate of Oman (Indonesia, Malaysia, Thailand, Singapore, Brunei Darussalam) visited the ‘Invest Oman Lounge’ today. During the visit, the ambassadors took note of the incentives offered to investors and procedures of investment in Oman. The visit aims to foster economic ties between Oman and ASEAN countries. It also reflects the efforts made by the Foreign Ministry in cooperation with the Ministry of Commerce, ...

MSX Gains 6 Points Muscat, 28 Mar (ONA) --- Muscat Stock Exchange (MSX) general index (30) today gained (6.1) points, comprising a rise by (0.13%) to close at (4858.67) points, compared to the last session, which stood at (4852.52) points. The trading value today stood at (RO 1,935,341), comprising a decline by (46.5%), compared to the last session, which stood at (RO 3,614,571). The report released by MSX pointed out that the market value went up by (0.115%) to reach about (RO 23.85) billion. The report added that the value of shares bought by non-Omani investors reached ...

Water, Electricity Production Rises in Oman at End of January 2023 Muscat, 28 Mar (ONA) --- Water production in the Sultanate of Oman increased by 4.5 percent to reach 41,807,800 cubic meters until the end of January 2023, compared to the same period in 2022, when it reached 40,009,300 cubic meters, showed statistics of the National Centre for Statistics and Information (NCSI).The governorates of Dhofar and Muscat recorded an increase in water production by 6.4 percent and 4 percent, respectively until the end of January 2023, compared to the same period in 2022. On the ...

Tender Results of Government Treasury Bills Worth RO 35 Million Issued Muscat, 28 Mar (ONA) --- The total issuance of Government Treasury Bills this week stood at RO 35 million. The value of the allotted Treasury bills amounted to RO 25 million, for a maturity period of 28 days. The average accepted price reached RO 99.635 for every RO 100, and the minimum accepted price arrived at RO 99.635 per RO 100. The average discount rate and the average yield reached 4.75804% and 4.77547% respectively. The value of the allotted Treasury bills amounted to RO 5 million, for a ...

Oman Oil Price Rises 2.80 US Dollars Muscat, 28 Mar (ONA) --- Oman oil price (May Delivery 2023 ) today reached 77.61 US Dollars, comprising a rise by 2.80 US Dollars from the price of yesterday (Monday), which was 74.81 US Dollars. The average price of Oman oil (March Delivery 2023) has stabilized at 80.92 US Dollars per barrel, thus 3.49 US Dollars per barrel higher than February Delivery 2023. --- Ends/Thuraiya/Khalid ...

Oman’s Crude Oil, Condensates Production Hits 29.7 Million Barrels in February 2023 Muscat, 27 Mar (ONA) --- The Sultanate of Oman’s production of crude oil and condensates during February 2023 stood at 29.7 million barrels, or a daily average of 1.06 million barrels, thus maintaining the same production rates compared to January 2023. The figure confirms Oman’s commitment with OPEC Plus to reduce production and narrow the gap between supply and demand. The total quantities of crude oil exported in February 2023 stood at 23.67 million barrels, or a daily average of ...

Value of Real Estate Trading Hits More Than RO 447 Million in Oman as End of February 2023 Muscat, 27 Mar (ONA) --- The value of real estate trading in the Sultanate of Oman until the end of February 2023 stood at RO 447.3 million compared to RO 381.1 million until the end of February 2022, comprising a growth of 17.4 percent compared to the same period in 2022, showed data of the National Centre for Statistics and Information (NCSI). The total fees collected from all legal actions stood at RO 12.5 million, an increase of 22.8 percent compared to the same period in 2022. The ...

MSX Gains 8 PointsMuscat, 27 Mar (ONA) --- Muscat Stock Exchange (MSX) general index (30) today gained (8.2) points, comprising a rise by (0.17%) to close at (4852.52) points, compared to the last session, which stood at (4844.30) points.The trading value today stood at (RO 3,614,571), comprising an increase by (26.2%), compared to the last session, which stood at (RO 2,864,837).The report released by MSX pointed out that the market value went up by (0.070%) to reach about (RO 23.82) billion.The report added that the value of shares bought by non-Omani investors reached (RO ...

Oman Oil Price Drops 37 CentsMuscat, 27 Mar (ONA) --- Oman oil price (May Delivery 2023) today reached 74.81 US Dollars, comprising a drop by 37 cents from the price of last (Friday), which was 75.18 US Dollars.The average price of Oman oil (March Delivery 2023) has stabilized at 80.92 US Dollars per barrel, thus 3.49 US Dollars per barrel higher than February Delivery 2023. --- Ends/Thuraiya/Khalid ...

Value of Landed Fish Stands at More Than RO 423 Million at End of 2022 Muscat, 26 Mar (ONA) --- The amount of fish landed in the Sultanate of Oman at the end of 2022 dropped by 21.9 percent, to reach 718,726 tons, at a value of RO 423,568,000, compared to the same period in 2021, when it stood at 920,241 tons, at a value of RO 420,927,000. Initial statistics issued by the National Centre for Statistics and Information (NCSI) showed that the highest amount of fish landed by artisanal fishing as at the end of December 2022 was in the Governorate of Al Wusta with 245,895 tons, ...

Oman Air Increases Flights to Moscow Muscat, 26 Mar (ONA) --- Oman Air, the national carrier of the Sultanate of Oman, has increased the frequency of flights to Moscow as part of its summer schedule. Offering maximum comfort and convenience to its guests, the airline will be flying daily using its popular Airbus A330 wide-body aircraft. The non-stop flight from Muscat will depart at 15:35 and arrive in Moscow at 20:55, while the return sector will depart from Moscow at 23:20 and arrive in Muscat at 06:30. Guests travelling to Muscat or Moscow should ensure they are ...

MSX Drops 26 PointsMuscat, 26 Mar (ONA) --- Muscat Stock Exchange (MSX) general index (30) today lost (26.7) points, comprising a drop by (0.55%) to close at (4844.30) points, compared to the last session, which stood at (4871.01) points.The trading value today stood at (RO 2,864,837), comprising a drop by (52.8%), compared to the last session, which stood at (RO 6,075,139).The report released by MSX pointed out that the market value went down by (0.136%) to reach about (RO 23.80) billion.The report added that the value of shares bought by non-Omani investors reached (RO 451,000), ...

Oman, Mauritania Discuss Cooperation in Communications, ITMuscat, 26 Mar (ONA) --- Represented by the Ministry of Transport, Communications and Information Technology, the Sultanate of Oman today held an official session of talks with the Islamic Republic of Mauritania to discuss aspects of cooperation in the fields of communications and information technology (IT).The session was chaired by Eng. Said Hamoud Al Ma’awali, Minister of Transport, Communications and Information Technology, and Moctar Ahmed El Yedaly, Minister of Digital Transition, Innovation and Modernization of ...

MSX Drops 25 Points Muscat, 23 Mar (ONA) --- Muscat Stock Exchange (MSX) general index (30) today lost (25.5) points, comprising a drop by (0.52%) to close at (4871.01) points, compared to the last session, which stood at (4896.50) points. The trading value today stood at (RO 6,075,139), comprising a surge by (227.9%), compared to the last session, which stood at (RO 1,852,479). The report released by MSX pointed out that the market value went down by (0.479%) to reach about (RO 23.84) billion. The report added that the value of shares bought by non-Omani investors ...

CBO Increases Repo Rate by 25 Basis PointsMuscat, 2 Feb (ONA) --- After the U.S. Fed’s recent announcement to raise its key policy rate, the Central Bank of Oman (CBO) increased its repo rate for local banks at the similar rate of 25 basis points to stand at 5.50%.The Central Bank of Oman’s monetary policy target is to sustain and maintain its fixed exchange rate. This policy is aligned with the structure and nature of the Omani economy. There are a number of advantages for the Sultanate of Oman that are derived from this policy among which are the stability of the Omani Rial, ...

Oman Oil Price Rises 1.57 US DollarMuscat, 23 Mar (ONA) --- Oman oil price (May Delivery) today reached 76.10 US Dollars, comprising a rise by 1.57 US Dollar from the price of yesterday (Wednesday), which was 74.53 US Dollars.The average price of Oman oil (March Delivery) has stabilized at 80.92 US Dollars per barrel, thus 3.49 US Dollars per barrel higher than February Delivery. --- Ends/Thuraiya/AG ...

HH Sayyid Bilarab Visits Omani Start-ups Muscat, 22 Mar (ONA) --- HH Sayyid Bilarab bin Haitham Al Said, Honorary President of the Omani Program for Promising Omani Start-ups, paid field visits to a group of Omani start-ups. The visit reflects the programme’s objectives by supporting innovation and technology-based start-ups, creating an enabling milieu for owners of start-ups and creative ideas. The visit also aims at viewing the work progress of start-ups and the challenges facing them. The visits also comes as part of the programme's plans for 2023, and one of the themes ...

Oman and Etihad Rail Company Invites Prequalification Bids from Companies Muscat, 22 Mar (ONA) --- Oman and Etihad Rail Company, the developer and operator of the railway network connecting the Sultanate of Oman and the United Arab Emirates (UAE), has invited prequalification bids from companies specialised in executing mega infrastructure projects in Oman to carry out civil works of the network. The company set 27 March 2023 as deadline to receive the bids of the interested companies. Documents of the prequalification bids will be available for purchase and downloading ...

MSX Gains 37 PointsMuscat, 22 Mar (ONA) --- Muscat Stock Exchange (MSX) general index (30) today gained (37.1) points, comprising a rise by (0.76%) to close at (4896.50) points, compared to the last session, which stood at (4859.36) points.The trading value today stood at (RO 2,344,686), comprising a drop by (21%), compared to the last session, which stood at (RO 1,852,479).The report released by MSX pointed out that the market value went up by (0.242%) to reach about (RO 23.95) billion.The report added that the value of shares bought by non-Omani investors reached (RO 508,000), ...

Oman-Iran Business Council Reviews Mechanisms of Boosting Trade Exchange Muscat, 23 Mar (ONA) --- The Oman-Iran Joint Business Council (Omani side) today held its 1st meeting for 2023 under the chairmanship of Mohammed Abdul Hussein Baqer, Head of the Omani side in the council. The meeting, held at Oman Chamber of Commerce and Industry’s (OCCI) headquarters, discussed a spectrum of business, economic and investment topics. It also touched on the council’s action during the previous period, in addition to what will be implemented during 2023. The meeting highlighted ...