News

Oman Rail, Etihad Rail Joint Venture Board Discusses Technical Studies, Architectural Designs Dubai, 2 Oct (ONA) --- The joint venture’s Board of Directors of Oman Rail and Etihad Rail held its first meeting here today. The inaugural meeting is held only two days after the signing ceremony of the joint venture agreement which took place during the visit of Sheikh Mohammed bin Zayed Al Nahyan, President of the United Arab Emirates (UAE) to the Sultanate of Oman. The Board of Directors comprises Eng. Said Hamoud Al Ma’awali, Minister of Transport, Communications, and ...

MSX Gains 44 Points Muscat, 2 Oct (ONA) --- Muscat Stock Exchange (MSX) general index (30) today gained (44.5) points, comprising a rise by (0.98%) to close at (4572.82) points, compared to the last session, which stood at (4528.34) points. The trading value today stood at (RO 3,230,516), comprising a rise by (1.9%), compared to the last session, which stood at (RO 3,170,865). The report released by MSX pointed out that the market value went up by (0.401%) to reach about (RO 23.22) billion. The report added that the value of shares bought by non-Omani investors reached ...

Hotel Revenues in Oman Exceed RO 108m by August 2022 Muscat, 2 Oct (ONA) --- The revenue of (3-5) star hotels in the Sultanate of Oman by the end of August 2022 recorded a surge by 106.9% to stand at RO 108.334 million compared to the same period in 2021, according to the latest data issued by the National Centre for Statistics and Information (NCSI). The number of guests in the (3-5) star hotels increased by 34.2% till the end of August 2022. Occupancy rate in those hotels went up by 22.4% by the end of August 2022 to stand at 42.5% compared to 34.7% during the same period in ...

Oman, KSA Review Products Safety System Muscat, 29 Sep (ONA) --- Dr. Saleh Said Masn, Undersecretary of the Ministry of Commerce, Industry and Investment Promotion for Commerce and Industry received in his office today Eng. Saud Al Askar, Deputy Governor of the Saudi Standards, Metrology and Quality Organization (SASO). The two sides reviewed bilateral relations and cooperation between the two countries in areas of business, industry, standards and metrology. They also discussed several matters of common interest. The two sides touched on products safety system between ...

50pc of Rusayl-Bidbid Road Expansion Project CompletedMuscat, 29 Sep (ONA) --- Eng. Khamis Mohammed Al Shammakhi, Undersecretary of the Ministry of Transport, Communications and Information Technology for Transport, has said that about 50 percent of the expansion project of the Rusayl - Bidbid road has been completed.He added that the ministry is seeking ways to open part of the road during November 2022, with plans in place to get the road fully functional by the third quarter of next year (2023).Speaking about the withdrawal of tender for A’Sharqiyah Expressway project and ...

German Inflation Hits Record 10% in SeptemberBerlin, 29 Sep (ONA) —— The inflation rate in Germany hit a record 10% in September, according to an official first estimate.In August the rate was 7.9%, but prices have continued to rise fast mainly due to an increase in energy costs as a consequence of the war in Ukraine.Energy prices were 43.9% higher in September 2022 than in September 2021, according to the data from the Federal Statistical Office. There was also an above average rise in food prices by 18.7% compared to the same month of last year.The end of two state subsidies - a fuel ...

MSX Gains 42 PointsMuscat, 29 Sep (ONA) --- Muscat Stock Exchange (MSX) general index (30) today gained (42) points, comprising a rise by (0.94%) to close at (4528.34) points, compared to the last session, which stood at (4486.31) points.The trading value today stood at (RO 3,170,865), comprising a drop by (7.9%), compared to the last session, which stood at (RO 3,441,716).The report released by MSX pointed out that the market value went dawn by (0.252%) to reach about (RO 23.12) billion.The report added that the value of shares bought by non-Omani investors reached (RO 384,000), ...

Oman Launches “Rafid”—the National Programme for Capacity Building in Urban Planning Muscat, 29 Sep (ONA) — “Rafid”, the National Programme for Capacity Building in Urban Planning was launched here today with the overall objective of empowering Omani youth and grooming urban planning leaders capable of implementing the Urban Transformation Strategy, a pillar of Oman 2040 Vision. The ceremony was held under the auspices of HH Sayyid Bilarab bin Haitham bin Tarik Al Said, and attended by Dr. Khalfan bin Said Al Shuaili, Minister of Housing and Urban Planning, ...

PDO Inks Six Memoranda Worth USD 2.2 Million Muscat, 29 Sep (ONA) --- Petroleum Development Oman (PDO) signed six Memorandums of Cooperation (MoC) to support a host of new projects worth USD 2.2 million within its Social Investment programme. The new project will benefit local communities and boost sustainable development across the Sultanate of Oman. The signing ceremony was held under the patronage of Dr. Hilal Ali Al Sabti, Minister of Health. The initiatives include key areas in the fields of health, safety and the environment (HSE), community infrastructure ...

Oman Oil Price Rises 4.42 US DollarsMuscat, 29 Sep (ONA) --- Oman oil price (November Delivery 2022) today reached 88.13 US Dollars, comprising a rise by 4.42 US Dollars from the price of yesterday (Wednesday) which stood at 83.71 US Dollars.The average price of Oman oil (September Delivery 2022) has stabilized at 103.21 US Dollars per barrel, thus 9.72 US Dollars per barrel lower than August Delivery 2022. --- Ends/Thuraiya/Anas ...

Oman’s ITHCA, ADQ Establish Joint Investment Fund Muscat, 28 Sep (ONA) --- Within the context of the state visit to Oman by Sheikh Mohammed bin Zayed Al Nahyan, President of the United Arab Emirates (UAE), ITHCA Group, today signed a memorandum of understanding (MoU) with Abu Dhabi Developmental Holding Company (ADQ). The MoU was inked by Atif Said Al Seyabi, Vice President of ITHCA, and Mohammed Hassan Al Suwaidi, CEO of ADQ. The MoU provides for the establishment of a RO 60 million fund to invest in nascent modern technologies in Oman. ---Ends/Bisahra/Anas ...

Oman Production of Crude Oil, Condensates Rises 10.3pc by August 2022 Muscat, 28 Sep (ONA) --- The Sultanate of Oman’s production of crude oil and condensates recorded an increase by 10.3% till the end of August 2022 to reach 257,034,700 barrels, according to the latest data issued by the National Centre for Statistics and Information (NCSI). Separately, Crude oil production saw a rise by 13.9% till the end of August 2022, while condensates production declined by 1.7%. The total average price for crude Oman oil recorded a surge by 40.4% till the end of August 2022 to ...

MSX Declines 7 PointsMuscat, 28 Sep (ONA) --- Muscat Stock Exchange (MSX) general index (30) today lost (7.2) points, comprising a decline by (0.16%) to close at (4486.31) points, compared to the last session, which stood at (4493.54) points.The trading value today stood at (RO 3,441,716), comprising a rise by (0.2%), compared to the last session, which stood at (RO 3,434,122).The report released by MSX pointed out that the market value went down by (0.009%) to reach about (RO 23.18) billion.The report added that the value of shares bought by non-Omani investors reached ...

Agreements Worth More Than RO 5bn Signed by Oman Investment Authority, Emirates HoldingMuscat, 28 Sep (ONA) —- Oman Investment Authority (OIA) and a number of United Arab Emirates (UAE) firms held talks during which they discussed a raft of investment opportunities in different sectors. The two sides discussed investment opportunities covering diverse sectors. The outcome was that agreements and memoranda of understanding were concluded.This took place within the context of the state visit of Sheikh Mohammed bin Zayed Al Nahyan, UAE President to the Sultanate of Oman.Oman Investment ...

Oman, UAE Sign Agreements to Set Up, Operate Railway Network Muscat, 28 Sep (ONA) --- To the tune of $3 billion (RO 1.160 billion), Oman Rail—developer and operator of the national railway network in Oman—and Etihad Rail, developer and operator of the national railway network in the United Arab Emirates (UAE), signed an agreement to establish “Oman and Al-Ittihad Company”, owned 50-50 by the two sides, to design and operate a railway network connecting Sohar Port and UAE National Railway Network. The pact was inked within the context of the state visit of Sheikh Mohammed ...

Oman Oil Price Declines 53 Cents Muscat, 28 Sep (ONA) --- Oman oil price (November Delivery 2022) today reached 83.71 US Dollars, comprising a drop by 53 cents from the price of yesterday (Tuesday) which stood at 84.24 US Dollars. The average price of Oman oil (September Delivery 2022) has stabilized at 103.21 US Dollars per barrel, thus 9.72 US Dollars per barrel lower than August Delivery 2022. ---Ends/Anas ...

MSX Gains 35 PointsMuscat, 27 Sep (ONA) --- Muscat Stock Exchange (MSX) general index (30) today gained (35.8) points, comprising a rise by (0.80%) to close at (4493.54) points, compared to the last session, which stood at (4457.71) points.The trading value today stood at (RO 3,434,122), comprising a drop by (15.4%), compared to the last session, which stood at (RO 4,060,783).The report released by MSX pointed out that the market value went up by (0.248%) to reach about (RO 23.18) billion.The report added that the value of shares bought by non-Omani investors reached (RO 264,000), ...

Tender Results Issue No. 165 of Government Treasury Bills worth RO 32 Million Issued Muscat, 27 Sep (ONA) --- A tender of Government Treasury Bills, issue number 165, worth RO 32 million was issued this week. Treasury Bills are short-term highly secured financial instruments issued by the Ministry of Finance, and they provide licensed commercial banks the opportunity to invest their surplus funds. The Central Bank of Oman (CBO) acts as the Issue Manager and provides the added advantage of ready liquidity through discounting and repurchase facilities (Repo). The results ...

Oman Oil Price Declines 22 CentsMuscat, 27 Sep (ONA) --- Oman oil price (November Delivery 2022) today reached 84.24 US Dollars, comprising a drop by 22 cents from the price of yesterday (Monday) which stood at 84.46 US Dollars.The average price of Oman oil (September Delivery 2022) has stabilized at 103.21 US Dollars per barrel, thus 9.72 US Dollars per barrel lower than August Delivery 2022. ---Ends/Thuraiya/Anas ...

Carbon Management Lab Tasks Take offMuscat, 26 Sep (ONA) --- With a mission to establish a comprehensive national strategy and a unified operational plan towards achieving net zero emissions, Carbon Management Lab (CML) kicked off here today to keep pace with the development goals within Oman Vision 2040.The CML, which runs till 13 October 2022, seeks to boost Oman’s strategic approach to the environment. It is organized by Oman Vision 2040 Implementation Follow-up Unit, under the supervision of the Ministry of Energy and Minerals, in cooperation with the Environment Authority and ...

RO 35m the Value of Insured Omani Export Sales to UAEMuscat, 26 Sep (ONA) --- Omani exports insured with Credit Oman to the United Arab Emirates (UAE) grew by 105% during the first half of 2022 and stood at RO 35.4 million as against their value during the corresponding period last year (RO 17.3 million).Sales of the construction sector's exports took the lead, comprising RO 22.4 million of the total, followed by the foodstuff sector (RO 8.8 million), in addition to the mining, packaging, agricultural materials, chemicals and petrochemicals sectors.Credit Oman and the UAE ...

MSX Closes at 4457 Points Muscat, 26 Sep (ONA) --- Muscat Stock Exchange (MSX) general index (30) today lost (0.4) point, comprising a decline by (0.01%) to close at (4457.71) points, compared to the last session, which stood at (4458.11) points. The trading value today stood at (RO 4,060,783), comprising a surge by (217.9%), compared to the last session, which stood at (RO 1,277,279). The report released by MSX pointed out that the market value went down by (0.020%) to reach about (RO 23.13) billion. The report added that the value of shares bought by non-Omani investors ...

OWWSC Signs Cloud Agreement with Data Park Muscat, 26 Sep (ONA) --- In an effort to ensure the safety of data and information related to the company, Oman Water and Wastewater Services Company (OWWSC), member of Nama Group, signed an agreement with Oman Data Park Company. Signing the agreement aims at making use of cloud services in hosting the company's data centre and disaster recovery centre. Based on the agreement, Oman Data Park will transfer and host the data and information of Oman Water and Wastewater Services Company with high efficiency and safe manner ...

Heritage, Tourism Ministry Marks World Tourism Day Muscat, 26 Sep (ONA) --- The Ministry of Heritage and Tourism today marked the World Tourism Day 2022 which falls on 27 September every year. The Ministry organizes a series of events and activities to promote the Sultanate of Oman as a distinctive destination in the region and globally. These activities aim to attract more visitors to the country's various governorates. The celebrations in the Sultanate of Oman are held under the global theme "Rethinking Tourism", in response to the World Tourism Organisation's ...

Oman, Iran Explore Investment Opportunities Muscat, 26 Sep (ONA) --- Oman Chamber of Commerce and Industry (OCCI) received today a business delegation from the Islamic Republic of Iran to explore business and investment opportunities in both countries. The meeting focused on several economic fields in a bid to strike partnerships between Omani and Iranian businessmen, namely in agriculture, mining, medical equipment, technical inspection services, livestock, industry, auto spare parts, petrochemicals, building material, jewelry and furniture. Hussain Al Ajmi, member ...

Private Sector in Oman Aspires for Trade Partnership with UAE Counterpart   Muscat, 26 Sep (ONA)—The private sector in Oman has welcomed the expected visit of Shaikh Mohammed bin Zayed Al Nahyan, President of the United Arab Emirates (UAE), to the Sultanate of Oman. In statements to Oman News Agency (ONA), a number of businessmen and businesswomen expressed the aspiration that this visit would open new inroads of economic cooperation and commercial partnership, provide more incentives that lead to increased trade exchange and enable the two sides to enter into joint ...

Oman Food and Hospitality Exhibition Kicks Off Muscat, 26 Sep (ONA) --- The Food and Hospitality Oman (FHO) three-day exhibition kicked off today at Oman Convention and Exhibition Centre (OCEC). Salim Mohammed Al Mahrouqi, Minister of Heritage and Tourism inaugurated the exhibition. Al Mahrouqi said that the hospitality sector is growing in harmony with recent developments in the field. He added that there are many opportunities for expansion and boosting added value for local communities, creating job opportunities and competing in regional markets. Al Mahroqui said ...

Oman Oil Price Declines 4.82 US DollarsMuscat, 26 Sep (ONA) --- Oman oil price (November Delivery 2022) today reached 84.46 US Dollars, comprising a drop by 4.82 US Dollars from the price of last (Friday) which stood at 89.28 US Dollars.The average price of Oman oil (September Delivery 2022) has stabilized at 103.21 US Dollars per barrel, thus 9.72 US Dollars per barrel lower than August Delivery 2022. --- Ends/Thuraiya/Anas ...

Agreement Worth RO 3m Inked for Sur Public Park ProjectSur, 25 Sep (ONA) --- Oman Liquefied Natural Gas (Oman LNG) signed an agreement here today with the Governor’s Office of South A’Sharqiyah to fund the second phase of Sur Public Park project to the tune of RO 3 million. The park is set to be a public facility, attracting residents and visitors of the Wilayat of Sur and South A’Sharqiyah Governorate in general. It is planned to operate as a self-sustaining enterprise, providing exceptional opportunities for entrepreneurship. Additionally, the park will boost the tourism ...

MSX Declines 14 PointsMuscat, 25 Sep (ONA) --- Muscat Stock Exchange (MSX) general index (30) today lost (14.8) points, comprising a decline by (0.33%) to close at (4458.11) points, compared to the last session, which stood at (4472.93) points.The trading value today stood at (RO 1,277,279), comprising a drop by (14.5%), compared to the last session, which stood at (RO 1,493,350).The report released by MSX pointed out that the market value went down by (0.158%) to reach about (RO 23.13) billion.The report added that the value of shares bought by non-Omani investors reached ...