News

Oman Participates in 9th World Government Summit in Dubai Dubai, 13 Feb (ONA) --- The Sultanate of Oman, represented by the Ministry of Finance, is taking part in deliberations of the 9th edition of World Government Summit 2023 being held in Dubai, United Arab Emirates (UAE). Oman’s delegation is led by Sultan Salim Al Habsi, Minister of Finance. The World Government Summit 2023 is held under the theme of “Shaping Future Governments”. The Summit brings thought leaders, global experts and decision makers from around the globe to share and contribute ...

MSX Loses 17 Points Muscat, 13 Feb (ONA) --- Muscat Stock Exchange (MSX) general index (30) today lost (17.6) points, comprising a decline by (0.37%) to close at (4739.65) points, compared to the last session, which stood at (4757.26) points. The trading value today stood at (RO 2,269,832), comprising a rise by (13.5%), compared to the last session, which stood at (RO 1,999,345). The report released by MSX pointed out that the market value went down by (0.111%) to reach about (RO 23.58) billion. The report added that the value of shares bought by non-Omani investors ...

Inflation in Oman Stands at 1.89pc During January 2023 Muscat, 13 Feb (ONA) --- The inflation rate of the Consumers Price Index (CPI) in the Sultanate of Oman stood at 1.89% during January 2023, according to the latest data issued by the National Centre for Statistics and Information (NCSI). The data indicated a rise in the prices of main groups in January 2023 compared to the corresponding period in 2022, such as food and non-alcoholic beverages by 4.78%, restaurants and hotels by 3.91%, furniture, household equipment and routine household maintenance by 3.42%, health by 2.73%, ...

OQ Signs Agreement to Sell 20% of Abraj’s Shares for Saudi Omani Investment Company Muscat, 13 Feb (ONA) ---- OQ Group, represented by its Upstream-sector, and Abraj Energy Services SAOC (Abraj, under transformation) signed an agreement with the Saudi Omani Investment Company (SOIC) by virtue of which SOIC buys 20% of Abraj’s shares that are being offered in an initial public offering. This step comes as part of the joint economic and investment cooperation between the Sultanate of Oman and the Kingdom of Saudi Arabia. It reflects the efforts exerted by ...

Oman Oil Price Rises 83 Cents Muscat, 13 Feb (ONA) --- Oman oil price (April Delivery) today reached 84.47 US Dollars, comprising a rise by 83 cents from the price of last (Friday), which was 83.64 US Dollars. The average price of Oman oil (February Delivery 2023) has stabilized at 77.43 US Dollars per barrel, thus 8.72 US Dollars per barrel lower than January Delivery 2023. --- Ends/AH ...

Ministerial Decision Issued to Regulate Licensing of National Product’s Identity Muscat, 12 Feb (ONA)—The Ministry of Commerce, Industry and Investment Promotion issued Ministerial Decision No. 62/2023 regulating the licensing of the national product’s identity. The decision seeks to establish a unified national framework for Omani products. Besides unifying the products’ marketing identity, the decision is aimed at augmenting competitiveness, enhancing in-country added value (ICV) of national products and raising local and foreign consumers’ awareness about Omani ...

TRA Unveils Results of Telecom Services Quality Assessment for 2022Muscat, 12 Feb (ONA) --- The Telecommunications Regulatory Authority (TRA) has said that the Wilayat of Muttrah posted the highest 4G service coverage rate in 2022, while the Wilayat of Saham boasted the highest data download speed for mobile broadband services.The assessment was the outcome of a field survey conducted by the TRA to measure the quality of telecommunication services in Oman’s wilayats in 2022.The survey covered 11 wilayats, which were Daba, Saham, Barka, Muttrah, Al Mudhaibi, Jaalan Bani Bu Ali, ...

Agreement Signed to Develop Mandarin Oriental Project in Muscat Muscat, 12 Feb (ONA)—The Ministry of Heritage and Tourism signed an agreement with Eagle Hills Real Estate Company to develop the Mandarin Oriental project at Qurum Beach (Shati Al Qurum), Muscat Governorate. The project, which constitutes an architectural model for integrated tourism complexes, comprises a 150-room 5-star hotel and 156 residential units, in addition to recreational facilities and gardens. It is expected to be opened in the third quarter of 2024. The agreement was signed by Salim Mohammed Al ...

MSX Loses 11 Points Muscat, 12 Feb (ONA) --- Muscat Stock Exchange (MSX) general index (30) today lost (11.4) points, comprising a decline by (0.24%) to close at (4757.26) points, compared to the last session, which stood at (4768.67) points. The trading value today stood at (RO 1,999,345), comprising a rise by (23.7%), compared to the last session, which stood at (RO 1,616,127). The report released by MSX pointed out that the market value went down by (0.016%) to reach about (RO 23.61) billion. The report added that the value of shares bought by non-Omani investors ...

CMA Approves Offering over 377 Million Shares of Abraj Energy Services for Public SubscriptionMuscat, 11 Feb (ONA) —- The Capital Market Authority (CMA) has approved the stock prospectus of Abraj Energy Services SAOC, one of OQ Group’s subsidiaries (under transformation), for its conversion from a closed joint stock company to a public joint stock company. By virtue of this transformation, the company will offer 377,398,000 shares for public subscription.The shares will be offered in two parallel categories. The first category will be allocated for major investors and will account for a ...

Five Agreements Signed to Mark Oman Industry DayMuscat, 9 Feb (ONA) — The Ministry of Commerce, Industry and Investment Promotion today celebrated Oman Industry Day, the 9th of February, which focused, this year, on promoting local content, the initiatives of the converting Industries’ Laboratory and Industries of the Future.The event saw the launch of the “Omani Product Logo” and “Oman Barcoding Centre”.Dr. Saleh Said Massan, Undersecretary of the Ministry of Commerce, Industry and Investment Promotion for Commerce and Industry, said that the output of the converting industries ...

MSX Gains 2 PointsMuscat, 9 Feb (ONA) --- Muscat Stock Exchange (MSX) general index (30) today gained (2.3) points, comprising a rise by (0.05%) to close at (4768.67) points, compared to the last session, which stood at (4766.36) points.The trading value today stood at (RO 1,616,127), comprising a rise by (32.1%), compared to the last session, which stood at (RO 1,223,203).The report released by MSX pointed out that the market value went down by (0.007%) to reach about (RO 23.61) billion.The report added that the value of shares bought by non-Omani investors reached (RO 99,000), comprising ...

Oman Oil Price Rises 1.27 US DollarsMuscat, 9 Feb (ONA) --- Oman oil price (April Delivery) today reached 83.36 US Dollars, comprising a rise by 1.27 US Dollars from the price of yesterday (Wednesday), which was 82.09 US Dollars.The average price of Oman oil (February Delivery 2023) has stabilized at 77.43 US Dollars per barrel, thus 8.72 US Dollars per barrel lower than January Delivery 2023.--- Ends/AH ...

International Symposium on Financial Technology Opens in SQU Muscat, 8 Feb (ONA) ---- Deliberations of the International Symposium on Financial Technology began at Sultan Qaboos University (SQU) today under the patronage of HH Sayyida Dr. Muna Fahd Al Said, SQU Assistant Vice Chancellor for International Cooperation. The event was organized by SQU’s College of Economics and Political Science, in cooperation with the Central Bank of Oman (CBO) and Imperial College London. The symposium included a presentation of local and international practical experiences, ...

Converting Industries Contribute 48.3pc in Total Industrial Output Muscat, 8 Feb (ONA) --- Faisal Abdullah Al Rawas, Chairman of Oman Chamber of Commerce and Industry has affirmed that the industrial sector is one of the most important economic sectors in Oman. It contributes to the growth of the national economy and the prosperity of the business environment in the country, he added. In a statement marking Oman Industry Day which falls on 9 February every year, Al Rawas pointed out that Oman’s GDP increased at the end of the third quarter of 2022 by 30.4 percent, and the ...

MSX Gains 8 Points Muscat, 8 Feb (ONA) --- Muscat Stock Exchange (MSX) general index (30) today gained (8.4) points, comprising a rise by (0.18%) to close at (4766.36) points, compared to the last session, which stood at (4757.98) points. The trading value today stood at (RO 1,223,203), comprising a decline by (34.9%), compared to the last session, which stood at (RO 1,879,682). The report released by MSX pointed out that the market value went up by (0.058%) to reach about (RO 23.61) billion. The report added that the value of shares bought by non-Omani investors ...

4th International Conference on Quality and Value Engineering to Kick off 21 February Muscat, 8 Feb (ONA) ---- The Secretariat General of the Tender Board, in conjunction with the Ministry of Labour, will organize on 21 February, the 4th International Conference on Quality and Value Engineering. The 2-day event themed “Value Engineering in the Age of Uncertainty” will be held in Grand Millennium Muscat. This was unveiled during a press conference held by the organizing parties here today. This year's conference comes as a result of the global challenges ...

OSHRM's 6th Edition Paves Way for New Era in Work Culture Muscat, 8 Feb (ONA)—Activities of the 6th edition of OSHRM’s conference on developing human resources kicked off today at Oman Convention and Exhibition Centre. The conference is organized by the Ministry of Labour and Oman Society for Human Resources Management (OSHRM). The conference seeks to find ways to hone the skills of human resources and to endorse a new work culture based on innovation. The event, which lasts for several days, will discuss the modernization of work instruments and the welfare of employees ...

Oman Oil Price Rises 1.64 US Dollars Muscat, 8 Feb (ONA) --- Oman oil price (April Delivery) today reached 82.09 US Dollars, comprising a rise by 1.64 US Dollars from the price of yesterday (Tuesday), which was 80.45 US Dollars. The average price of Oman oil (February Delivery 2023) has stabilized at 77.43 US Dollars per barrel, thus 8.72 US Dollars per barrel lower than January Delivery 2023. --- Ends/AH ...

Oman LNG Signs Binding Term-sheet Agreement with China’s UNIPEC Muscat, 7 Feb (ONA) --- Oman LNG today signed a binding term-sheet agreement with China International United Petroleum and Chemical Co. (UNIPEC) to supply one million metric tonne per annum (mtpa) of LNG starting from 2025. This agreement comes to leverage the ever-growing partnership between Oman LNG and international energy firms, where UNIPEC has become the latest beneficiary of the Omani LNG marking the first LNG term deal with a Chinese firm. The deal constitutes a remarkable milestone for both companies ...

Oman-Britain Strategic Consultative Group Holds Coordination Meeting Muscat, 7 Feb (ONA) --- The Oman-Britain Strategic Consultative Group held in Muscat today a coordination meeting. The meeting discussed enhancing relations between the two countries in financial and economic fields. The meeting also reviewed a range of topics pertaining to finance, business and renewable energy sectors, in addition to exchanging opinion and experience. Further, the meeting explored opportunities of cooperation to realize the common goals to develop these sectors. The meeting was ...

MSX Gains 3 Points Muscat, 7 Feb (ONA) --- Muscat Stock Exchange (MSX) general index (30) today gained (3.5) points, comprising a rise by (0.07%) to close at (4757.98) points, compared to the last session, which stood at (4754.44) points. The trading value today stood at (RO 1,879,682), comprising a surge by (89.3%), compared to the last session, which stood at (RO 992,858). The report released by MSX pointed out that the market value went down by (0.279%) to reach about (RO 23.60) billion. The report added that the value of shares bought by non-Omani investors reached (RO ...

Tender Results of Government Treasury Bills Worth RO 16mn Issued Muscat, 7 Feb (ONA) ---- The total issuance of Government Treasury Bills amounted RO 16 Million. The value of the allotted Treasury bills for a maturity period of 91 days amounted to RO 16 million. The average accepted price reached RO 98.790 for every RO 100, and the minimum accepted price arrived at RO 98.790 per RO 100. The average discount rate and the average yield reached 4.85330% and 4.91274%, respectively. The Treasury Bills are short-term highly secured financial instruments issued by ...

PDO Receives International Recognition in Human Resources Field Muscat, 7 Feb (ONA) ---- Petroleum Development Oman (PDO) has become the first organization in the Middle East to achieve People Development Partner status from the Chartered Institute of Personnel and Development (CIPD), the world’s leading professional body for human resources and people development. PDO has achieved this by working closely with the CIPD team over the past several years, investing heavily in increasing the impact of its people function, ensuring their professionalism through CIPD ...

Oman Oil Price Rises 2.14 US Dollars Muscat, 7 Feb (ONA) --- Oman oil price (April Delivery) today reached 80.45 US Dollars, comprising a rise by 2.14 US Dollars from the price of yesterday (Monday), which was 78.31 US Dollars. The average price of Oman oil (February Delivery 2023) has stabilized at 77.43 US Dollars per barrel, thus 8.72 US Dollars per barrel lower than January Delivery 2023. --- Ends/Thuraiya ...

Oman Takes Part in “LEAP Riyadh 2023” International Technical Conference in Riyadh Muscat, 6 Feb (ONA)—The Sultanate of Oman, represented by the Ministry of Transport, Communications and Information Technology and a number of government and private establishments, is participating in the international technical conference "LEAP Riyadh 2023", which started today in Riyadh, Kingdom of Saudi Arabia, and will last for several days. Eng. Said Hamoud Al Maawali, Minister of Transport, Communications and Information Technology, said in a dialogue session at the conference that ...

Agreement Signed to Train, Recruit 250 jobseekers in Tourism Sector Muscat, 6 Feb (ONA)—The Ministry of Labour today signed a cooperation programme with the Oman Tourism Development Company (Omran Group) as part of the ministry's ongoing system of training and employment of national human resources. The programme was signed by Sayyid Salim Musallam Al Busaidi, Undersecretary of the Ministry of Labour for Human Resources Development, and Hashil Obaid Al Mahrouqi, CEO of Omran Group. The programme seeks to engage different sectors to promote the localization of jobs in ...

Real Estate Trading in Oman Surpasses RO 2.7 Billion till December 2022Muscat, 6 Feb (ONA) ---- The total value of property transactions in the Sultanate of Oman by the end of December 2022 rose by 6% to reach RO 2,706.1 million, compared to RO 2,552.5 million, according to the latest date issued by the National Centre for Statistics and Information (NCSI).The figures revealed that the total fees collected for all transactions by the end of December 2022 amounted to RO 62.6 million, a decrease of 25.5% compared to the same period in 2021. The traded value of sales contracts also ...

APSR Outlines 2023 Plan Muscat, 6 Feb (ONA) --- The Authority for Public Services Regulation (APSR) today held a press conference during which it unveiled its plan for this year (2023) and its accomplishments through last year. At the outset of the press conference, Dr. Mansoor Talib Al Hinai, APSR Chairman, spoke about the attention accorded by the government to the development of policies and regulations, with a view to empowering different sectors of concern to the APSR. Al Hinai pointed out that the APSR oversaw the execution of the endorsed plans, through licensed ...

Tender Board Launches Two New Platforms of Amana, Adaa Muscat, 6 Feb (ONA)—The Secretariat General of Tender Board today launched two new platforms called “Amana” and “Adaa”, as well as two initiatives to consolidate work culture and a “Job Competencies” matrix. The services were inducted at the Tender Board’s annual gathering, held at the Diplomatic Club. The ceremony was held under the auspices of Dr. Said Mohammed Al Saqri, Minister of Economy. Speaking at the event, Al Saqri said, “The restructuring of the Tender Board will play a significant role in ...