News

Economy
MSX Gains 6 Points

MSX Gains 6 PointsMuscat, 25 Apr (ONA) --- Muscat Stock Exchange (MSX) general index (30) today gained (6.5) points, comprising a rise by (0.14%) to close at (4713.64) points, compared to the last session, which stood at (4707.10) points.The trading value today stood at (RO 15,258,320), comprising a rise by (14.9%), compared to the last session, which stood at (RO 13,282,660).The report released by MSX pointed out that the market value went down by (0.001%) to reach about (RO 24.13) billion.The report added that the value of shares bought by non-Omani investors reached (RO 229,000), ...

Oman, Saudi Arabia Sign MoU to Fund Omani Industrial Zones’ Infrastructure Projects

Oman, Saudi Arabia Sign MoU to Fund Omani Industrial Zones’ Infrastructure Projects Muscat, 25 Apr (ONA) --- Sultan Salim Al Habsi, Minister of Finance, today received Sultan Abdulrahman Al Murshid, CEO of the Saudi Fund for Development (SFD), to discuss mechanisms of cooperation between Oman and the SFD, in addition to updates on ongoing joint development projects. On the sidelines of the meeting, the two sides signed a memorandum of understanding (MoU) to finance the infrastructure of some industrial zones in Oman. The MoU seeks to develop industrial and logistic sectors and ...

Oman Oil Price Rises 4 Cents

Oman Oil Price Rises 4 CentsMuscat, 25 Apr (ONA) --- Oman oil price (June delivery 2024) today reached 89.01 US Dollars, comprising a rise by 4 cents compared to the price of yesterday (Wednesday), which stood at 88.97 US Dollars.The average price of Oman oil (April delivery 2024) has stabilized at 80.85 US Dollars per barrel, thus 2.10 US Dollars per barrel higher than March delivery 2024.--- Ends/AH ...

Oman, USA Explore Means of Promoting Trade, Investment

Oman, USA Explore Means of Promoting Trade, Investment Washington, 24 Apr (ONA) --- The Sultanate of Oman and the United States of America (USA) today explored means of promoting trade and investment, in addition to addressing shared challenges during the 2nd Strategic Dialogue held in Washington. The Omani side was chaired by Sheikh Khalifa Ali Al Harthy, Undersecretary of the Foreign Ministry for Political Affairs whilst the USA side was chaired by Jose W. Fernandez, Under Secretary for Economic Growth, Energy, and the Environment at the U.S. Department of State, The ...

1st Oman-USA Economic Forum Explores Enhancing Trade, Investment Exchange

1st Oman-USA Economic Forum Explores Enhancing Trade, Investment Exchange Washington, 24 Apr (ONA) --- The first Oman-USA Economic Forum discussed in Washington D.C. enhancing trade and investment exchange between the two countries. The forum was organized by the Embassy of the Sultanate of Oman in the United States of America (USA) in conjunction with the US Chamber of Commerce on the sidelines of the Second Oman-USA Strategic Dialogue. Sheikh Khalifa Ali Al Harthy, Undersecretary of the Foreign Ministry for Political Affairs, delivered a speech in which he underscored ...

Transport Ministry Launches Digital Excellence Award in Government Sector

Transport Ministry Launches Digital Excellence Award in Government Sector Muscat, 24 Apr (ONA) --- The Ministry of Transport, Communications and Information Technology today launched the first edition of the Digital Excellence Award in the government sector. The award forms as part of the ministry's commitment to accelerate the pace of digital transition and enhance innovation in the government sector in line with the goals of Oman Vision 2040. It also seeks to upgrade the Sultanate of Oman’s ranking in the Global Competitiveness Index for e-Government Development by raising ...

MSX Gains 10 Points

MSX Gains 10 Points Muscat, 24 Apr (ONA) --- Muscat Stock Exchange (MSX) general index (30) today gained (10.8) points, comprising a rise by (0.23%) to close at (4707.10) points, compared to the last session, which stood at (4696.30) points. The trading value today stood at (RO 13,282,660), comprising a rise by (453.1%), compared to the last session, which stood at (RO 2,401,279). The report released by MSX pointed out that the market value went up by (0.043%) to reach about (RO 24.13) billion. The report added that the value of shares bought by non-Omani investors reached ...

Oman, Japan Review Aspects of Economic Cooperation

Oman, Japan Review Aspects of Economic Cooperation Tokyo, 24 Apr (ONA) ---- Dr. Ali bin Masoud Al Sunaidi, Chairman of the Public Authority for Special Economic Zones and Free Zones (OPAZ) held a meeting in Tokyo with Saito Ken, Japanese Minister of Economy, Trade and Industry. The meeting reviewed aspects of the economic cooperation between Oman and Japan, and the most significant projects being implemented in Oman's economic zones, free zones, and industrial cities. The most significant project is the low-carbon iron production project, which is in the Special Economic ...

Oman Oil Price Rises 29 Cents

Oman Oil Price Rises 29 Cents Muscat, 24 Apr (ONA) --- Oman oil price (June delivery 2024) today reached 88.97 US Dollars, comprising a rise by 29 cents compared to the price of yesterday (Tuesday), which stood at 88.68 US Dollars. The average price of Oman oil (April delivery 2024) has stabilized at 80.85 US Dollars per barrel, thus 2.10 US Dollars per barrel higher than March delivery 2024. --- Ends/Thuraiya/AH ...

CBO Announces Auction Results of 70th GDB Issue

CBO Announces Auction Results of 70th GDB Issue Muscat, 23 Apr (ONA) --- The Central Bank of Oman (CBO) today announced the auction results of the 70th Government Development Bonds (GDB) issue worth RO 125 million. According to a media release issued by CBO’s Market Operations Department, the 70th GDB Issue, which received overwhelming response from investors, has received applications amounted RO 212,981,700. The average yield was 5.03 percent at an equivalent price of RO 99.660 while the highest yield was 5.20 percent at an equivalent price of RO 99.345 and ...

Minister of Transport and Communications Receives Algerian Official

Minister of Transport and Communications Receives Algerian Official Muscat, 23 Apr (ONA) --- Eng. Said Hamoud Al Maawali, Minister of Transport, Communications and Information Technology received in his office today Ibrahim Boughali, President of the People’s National Assembly of the People’s Democratic Republic of Algeria. During the meeting, the two sides reviewed areas of cooperation in the transport, communications and information technology sectors. The two sides also touched on a set of topics of mutual interest that serve the two countries. The meeting was ...

Oman-UAE Investment Forum Discuses Means of Boosting Cooperation

Oman-UAE Investment Forum Discuses Means of Boosting Cooperation Abu Dhabi, 23 Apr (ONA) ---- Oman-UAE Investment Forum today discussed means of promoting the existing cooperation between the Sultanate of Oman and the United Arab Emirates (UAE) in various areas.The event was held at the Emirate Palace Hotel in Abu Dhabi, within the context of the His Majesty the Sultan’s current state visit to the UAE.Abdussalam bin Mohammed Al Murshidi, Chairman of Oman Investment Authority sad that continuous growth in the volume of trade and investment exchange between the two countries ...

MSX Drops 1 Point

MSX Drops 1 Point Muscat, 23 Apr (ONA) --- Muscat Stock Exchange (MSX) general index (30) today lost (1.6) point, comprising a decline by (0.03%) to close at (4696.30) points, compared to the last session, which stood at (4697.87) points. The trading value today stood at (RO 2,401,279), comprising a drop by (23.1%), compared to the last session, which stood at (RO 3,122,563). The report released by MSX pointed out that the market value went down by (0.028%) to reach about (RO 24.11) billion. The report added that the value of shares bought by non-Omani investors reached ...

GDP at Constant Prices Increases 1.3pc at the End of Q4 of 2023

GDP at Constant Prices Increases 1.3pc at the End of Q4 of 2023 Muscat, 23 Apr (ONA) --- The gross domestic product (GDP) at constant prices of the Sultanate of Oman at the end of the fourth quarter of 2023 increased by 1.3% to reach (at market price) RO 38.3 billion, compared to the end of the fourth quarter of 2022, during which the GDP at constant prices reached RO 37.8 billion, according to preliminary data issued by the National Center for Statistics and Information (NCSI). This increase is attributed to the rise in oil activities by 0.4% percent to RO 12.4 billion by ...

Oman, UAE sign agreements in Investment, Economic Sectors

Oman, UAE sign agreements in Investment, Economic Sectors Abu Dhabi, 23 Apr (ONA) --- The Sultanate of Oman and the United Arab Emirates (UAE) today signed agreements and memorandums of understanding in different fields. The pacts, inked as of the state visit of His Majesty Sultan Haitham bin Tarik to the UAE, cover the areas of investment, renewable energy, railways and modern technology. In the field of investment, a memorandum of understanding (MoU) was signed by the Ministry of Commerce, Industry and Investment Promotion and the UAE Ministry of Investment. It aims to ...

Oman Oil Price Rises 1.84 US Dollars

Oman Oil Price Rises 1.84 US Dollars Muscat, 23 Apr (ONA) --- Oman oil price (June delivery 2024) today reached 88.68 US Dollars, comprising a rise by 1.84 US Dollars compared to the price of yesterday (Monday), which stood at 86.84 US Dollars. The average price of Oman oil (April delivery 2024) has stabilized at 80.85 US Dollars per barrel, thus 2.10 US Dollars per barrel higher than March delivery ...

Oman Petroleum and Energy Show Paves the Way for Affordable, Sustainable, Clean Energy

Oman Petroleum and Energy Show Paves the Way for Affordable, Sustainable, Clean Energy Muscat, 22 Apr (ONA) --- Under the patronage of the Ministry of Energy and Minerals, Oman Petroleum and Energy Show (OPES 2024), officially commenced at the Oman Convention and Exhibition Centre today. The three-day event was inaugurated by Eng. Salim Nasser Al Aufi, Minister of Energy and Minerals, drawing the presence of eminent figures from various ministries, authorities, esteemed delegates, and luminaries representing the spectrum of energy stakeholders. Organized by ...

OQ Group Announces Final Investment Decision with TotalEnergies to Build LNG Bunkering Plant at Sohar Port

OQ Group Announces Final Investment Decision with TotalEnergies to Build LNG Bunkering Plant at Sohar Port Muscat, 22 Apr (ONA) --- OQ, the global integrated energy group, has announced the final investment decision with TotalEnergies for the construction of the Marsa LNG Bunkering project at Sohar Port, at a total cost of USD 1.6 billion, with TotalEnergies contributing 80% and OQ 20% via their incorporated joint venture Marsa Liquefied Natural Gas LLC. The project integrates an upstream and downstream business segments. The upstream component entails the production ...

Asyad Shipping, OQ8 Successfully Complete First-of-its-kind Blended Crude Oil Delivery from Mina Al Fahal to Duqm Refinery

Asyad Shipping, OQ8 Successfully Complete First-of-its-kind Blended Crude Oil Delivery from Mina Al Fahal to Duqm Refinery Muscat, 22 Apr (ONA) --- Asyad Shipping, part of Asyad Group, has achieved a first in Oman's maritime and energy history with the successful delivery of the first blended crude oil by an entirely-Omani supply chain. This inaugural shipment, embarked by Asyad Shipping’s fleet, VLCC Saiq, set sail from Mina Al Fahal to Ras Markaz, destined to the Duqm Refinery (OQ8), a promising economic project in Oman. Dr. Ibrahim Al Nadhairi, CEO of Asyad Shipping, ...

MSX Drops 6 Points

MSX Drops 6 Points Muscat, 22 Apr (ONA) --- Muscat Stock Exchange (MSX) general index (30) today lost (6.2) points, comprising a decline by (0.13%) to close at (4697.87) points, compared to the last session, which stood at (4704.08) points. The trading value today stood at (RO 3,122,563), comprising a rise by (7%), compared to the last session, which stood at (RO 2,918,437). The report released by MSX pointed out that the market value went down by (0.098%) to reach about (RO 24.12) billion. The report added that the value of shares bought by non-Omani investors reached (RO ...

Oman Oil Price Drops 1.13 US Dollars

Oman Oil Price Drops 1.13 US Dollar. Muscat, 22 Apr (ONA) --- Oman oil price (June delivery 2024) today reached 86.84 US Dollars, comprising a drop by 1.13 US Dollars, compared to the price of last (Friday), which stood at 87.97 US Dollars. The average price of Oman oil (April delivery 2024) has stabilized at 80.85 US Dollars per barrel, thus 2.10 US Dollars per barrel higher than March delivery 2024. --- Ends/Thuraiya/AH ...

Oman LNG Signs Sales and Purchase Agreement with TotalEnergies

Oman LNG Signs Sales and Purchase Agreement with TotalEnergies Muscat, 22 Apr (ONA) ---- Oman LNG announced the signing of a Sales and Purchase Agreement (SPA) with TotalEnergies. The agreement encapsulates the offtake of 0.8 Million Metric Tonnes Per Annum (MTPA) of LNG from Oman LNG for 10 years starting from 2025. Such step aims to leverage the growing partnership between Oman LNG and TotalEnergies, where it reflects the former’s effort to extend support to the local economy through the delivery of reliable energy from Oman to customers worldwide. Commenting on ...

Three Service Tenders Floated as Part of Sultan Haitham City Project

Three Service Tenders Floated as Part of Sultan Haitham City Project Muscat, 21 Apr (ONA) --- The Ministry of Housing and Urban Planning floated three service tenders within the Sultan Haitham City project, first phase (2024 - 2030). The tenders relate to the construction of streets, service roads, culverts and pavements. They also cover the establishment of networks for electricity, water and wastewater services, in addition to broadband, communication and cooling networks and the three electrical substations. The first tender provides for the implementation of 31 culverts, ...

Financing Agreement Worth RO 25m Signed in Support of SMEs, Startups

Financing Agreement Worth RO 25m Signed in Support of SMEs, Startups Muscat, 21 Apr (ONA) --- The joint committee tasked with managing the “Programme for Supporting Medium, Small and Microenterprises (MSMEs)” today signed a financing agreement with the Development Bank to the tune of RO 25 million. The agreement aims at generating more employment opportunities for Omani youth by providing soft financing for economic and social development projects. The programme offers loans to owners of self-employment enterprises. The agreement was signed on behalf of the joint committee of ...

Commerce Ministry Reviews 2024 Plan, Focusing on Digital Transition

Commerce Ministry Reviews 2024 Plan, Focusing on Digital Transition Muscat, 21 Apr (ONA) --- The Ministry of Commerce, Industry and Investment Promotion has outlined its plan for 2024, which focuses on digital transition. The plan also lays emphasis on improving the quality services, cutting down costs, saving time and effort and achieving more flexibility at work. The plan also seeks to improve communication, operational efficiency and improve customer service through the electronic platforms that the ministry has launched earlier. This was unveiled during a media ...

MSX Drops 13 Points

MSX Drops 13 Points Muscat, 21 Apr (ONA) --- Muscat Stock Exchange (MSX) general index (30) today lost (13) points, comprising a decline by (0.28%) to close at (4704.08) points, compared to the last session, which stood at (4717.06) points. The trading value today stood at (RO 2,918,437), comprising a drop by (34.4%), compared to the last session, which stood at (RO 4,450,759). The report released by MSX pointed out that the market value went down by (0.067%) to reach about (RO 24.14) billion. The report added that the value of shares bought by non-Omani investors reached ...

GDP at Current Prices in Q4 of 2023 Records RO 41.8 Billion

GDP at Current Prices in Q4 of 2023 Records RO 41.8 Billion Muscat, 21 Apr (ONA) ---The Gross Domestic Product (GDP) at current prices in the Sultanate of Oman at the end of the fourth quarter of 2023 (from January to December 2023) recorded a decrease of 2.8% to reach (at market price) RO 41.8 billion, compared to the end of the fourth quarter of 2022, during which the GDP at current prices reached RO 43 billion, according to preliminary data issued by the National Centre for Statistics and Information. This decrease is mainly due to the drop in oil activities, which ...

Oman and UAE: Fraternal Bonds, Strategic Relations and Economic Partnership

Oman and UAE: Fraternal Bonds, Strategic Relations and Economic PartnershipMuscat, 20 Apr (ONA) —— The Sultanate of Oman and the United Arab Emirates (UAE) are bound by fraternal bonds and strategic partnership. These bilateral relations are witnessing a remarkable progress, thanks to the support and attention accorded by the wise leaderships of His Majesty Sultan Haitham bin Tarik and Sheikh Mohammed bin Zayed Al Nahyan, President of the United Arab Emirates (UAE).The two leaderships are keen to elevate the relations towards wider horizons in a manner that serves interest of the two ...

Oman LNG Signs Sales and Purchase Agreement with BOTAS Petroleum of Türkiye

Oman LNG Signs Sales and Purchase Agreement with BOTAS Petroleum ofTürkiyeAnkara, 19 Apr (ONA) —— Oman LNG announced the signing of a Sales and Purchase Agreement (SPA) with BOTAS Petroleum Pipeline Corporation.The agreement encapsulates the offtake of 1 Million Metric Tonnes Per Annum (MTPA) of LNG from Oman LNG for 10 years starting from 2025.Such step aims to leverage the partnership between Oman LNG and BOTAS while leveraging the Sultanate of Oman’s reputation as a reliable and trusted LNG supplier.Commenting on this agreement, Hamed Mohammed Al Nu’amani, CEO of Oman LNG- said: ...

Fourth Edition of Oman Cybersecurity Conference Kicks off

Fourth Edition of Oman Cybersecurity Conference Kicks off Muscat, 18 Apr (ONA) --- The fourth edition of Oman Cybersecurity Conference titled “Defending the Digital World: The Cybersecurity Revolution in the Communications Sector” kicked off today. The opening ceremony was held under the auspices of Sheikh Ghuson Hilal Al Alawi, Chairman of the State Audit Institution (SAI). The event is organized by Al Roya newspaper in cooperation with the Cyber Defence Centre, Advanced Cybersecurity Academy and Oman Data Park company. A documentary titled “Cybersecurity ...