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Economy
Discussion Panel Highlights Economic Scopes of Sultan Haitham City

Discussion Panel Highlights Economic Scopes of Sultan Haitham City Muscat, 18 Apr (ONA) --- The Ministry of Economy today hosted Dr. Khalfan Said Al Shuaili, Minister of Housing and Urban Planning, to participate in a discussion panel titled “Economic Scopes of Sultan Haitham City and Urban Development Projects”. The open dialogue session formed part of an ‘Economic Knowledge programme’ being conducted by the Ministry of Economy. The Minister of Housing and Urban Planning stressed that Sultan Haitham City sets a model for modern towns in the Sultanate of Oman. He added ...

OIA Board Holds First Meeting of 2024

OIA Board Holds First Meeting of 2024 Muscat, 18 Apr (ONA) --- The Board of Directors of Oman Investment Authority (OIA) today held its first meeting of the year (2024). The meeting reviewed a report on the OIA’s financial performance, its investments in Oman and abroad in 2023 and its 2024 media plan, among other matters. The meeting, chaired by Sultan Salim Al Habsi, Finance Minister, also discussed other investment issues and topics submitted to the OIA for elaboration.--- Ends/Bishara/Khalid ...

Commerce Ministry Undertakes Initiative to Issue Translators Professional Cards

Commerce Ministry Undertakes Initiative to Issue Translators Professional Cards Muscat, 18 Apr (ONA) --- Acting in cooperation with Oman Chamber of Commerce and Industry (OCCI), the Ministry of Commerce, Industry and Investment Promotion today launched an initiative to issue professional cards for translators. The initiative stems from a strategic approach espoused by the ministry and the OCCI to keep pace with the goals of Oman Vision 2040. The overall objective is to improve and regulate the business environment and enhance the competitiveness of specialized ...

MSX Drops 5 Points

MSX Drops 5 Points Muscat, 18 Apr (ONA) --- Muscat Stock Exchange (MSX) general index (30) today lost (5.9) points, comprising a decline by (0.12%) to close at (4717.06) points, compared to the last session, which stood at (4722.93) points. The trading value today stood at (RO 4,450,759), comprising a rise by (49.8%), compared to the last session, which stood at (RO 2,970,825). The report released by MSX pointed out that the market value went down by (0.044%) to reach about (RO 24.16) billion. The report added that the value of shares bought by non-Omani investors reached ...

Oman Oil Price Drops 2.74 US Dollars

Oman Oil Price Drops 2.74 US Dollars Muscat, 18 Apr (ONA) --- Oman oil price (June delivery 2024) today reached 87.76 US Dollars, comprising a drop by 2.74 US Dollars compared to the price of yesterday (Wednesday), which stood at 90.50 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 ...

Number of Passengers Through Oman's Airports Rises 21.8pc by End of Feb 2024

Number of Passengers Through Oman's Airports Rises 21.8pc by End of Feb 2024 Muscat, 17 Apr (ONA) --- The number of passengers through the airports of the Sultanate of Oman by the end of February 2024 increased by 21.8%, recording 2,717,835 passengers, compared to 2,231,451 passengers by the end of February 2023, according to preliminary statistics issued by the National Center for Statistics and Information (NCSI). The number of passengers through Muscat International Airport by the end of February 2024 reached about 2,463,856, constituting an increase of 22.9%, who ...

Oman’s Oil Exports in February 2024 Stand at 52.4 Million Barrels

Oman’s Oil Exports in February 2024 Stand at 52.4 Million Barrels Muscat, 17 Apr (ONA) ---- Statistics issued by the National Center for Statistics and Information indicate that the total quantity of the Sultanate of Oman’s oil exports by the end of February 2024 stood at 52,430,300 barrels, calculating the average price of a barrel at 80.2 US dollars, as oil exports constituted 87.2 percent of the total production, which amounted to 60,073,100 barrels. The data indicated that total oil exports recorded an increase of 5.5 percent at the end of February 2024 compared to ...

MSX Drops 14 Points

MSX Drops 14 Points Muscat, 17 Apr (ONA) --- Muscat Stock Exchange (MSX) general index (30) today lost (14.9) points, comprising a decline by (0.31%) to close at (4722.93) points, compared to the last session, which stood at (4737.59) points. The trading value today stood at (RO 2,970,825), comprising a drop by (39.3%), compared to the last session, which stood at (RO 4,896,632). The report released by MSX pointed out that the market value went up by (0.054%) to reach about (RO 24.17) billion. The report added that the value of shares bought by non-Omani investors reached ...

Agreement Signed to Complete 1st Phase of Al Batinah Coastal Road

Agreement Signed to Complete 1st Phase of Al Batinah Coastal Road Muscat, 17 Apr (ONA) --- The Ministry of Transport, Communications and Information Technology today signed an agreement to the tune of RO 79 million for the design, implementation and finalization of the first phase of Al Batinah Coastal Road. The agreement was concluded within the context of a drive to develop the transport and logistics sector to activate its role in serving the national economy. The agreement was signed by Eng. Said Hamoud Al Maawali, Minister of Transport, Communications and Information ...

Oman LNG Signs Sales and Purchase Agreement with Shell to Deliver 1.6 MTPA Annually

Oman LNG Signs Sales and Purchase Agreement with Shell to Deliver 1.6 MTPA Annually Muscat, 17 Apr (ONA) ---- Oman LNG announced the signing of a Sales and Purchase Agreement (SPA) with Shell International Trading Middle East Limited (SITME) to deliver a total of up to 1.6 Million Metric Tonnes Per Annum of LNG for 10 years starting from 2025. The agreement comes as a new step in the steadfast collaboration between the two companies, with Shell becoming the largest off-taker of LNG from Oman LNG. Commenting on this agreement, Hamed Mohammed Al Nu’amani, CEO of Oman ...

Oman Oil Price Rises 8 Cents

Oman Oil Price Rises 8 Cents Muscat, 17 Apr (ONA) --- Oman oil price (June delivery 2024) today reached 90.50 US Dollars, comprising a rise by 8 cents compared to the price of yesterday (Tuesday), which stood at 90.42 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 ...

MSX Gains 9 Points

MSX Gains 9 Points Muscat, 16 Apr (ONA) --- Muscat Stock Exchange (MSX) general index (30) today gained (9.9) points, comprising a rise by (0.21%) to close at (4737.59) points, compared to the last session, which stood at (4727.73) points. The trading value today stood at (RO 4,896,632), comprising a rise by (41%), compared to the last session, which stood at (RO 3,472,410). The report released by MSX pointed out that the market value went up by (0.018%) to reach about (RO 24.16) billion. The report added that the value of shares bought by non-Omani investors reached (RO ...

Oman Oil Price Rises 83 Cents

Oman Oil Price Rises 83 Cents Muscat, 16 Apr (ONA) --- Oman oil price (June delivery 2024) today reached 90.42 US Dollars, comprising a rise by 83 cents compared to the price of yesterday (Monday), which stood at 89.59 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 Japanese JERA Company

Oman LNG Signs Sales and Purchase Agreement with Japanese JERA Company Muscat, 16 Apr (ONA) ---- Oman LNG announced the signing of a Sales and Purchase Agreement (SPA) with JERA Co. The agreement delivers 0.8 Million Metric Tonnes Per Annum of LNG from Oman LNG for 10 years starting from 2025. This agreement strengthens the partnership between Oman LNG and JERA, being the largest LNG importer in Japan. Oman LNG also continues to grow its market access in Japan. Japan has been a key market for Omani LNG for the past two decades. --- Ends/AH ...

Tender Results of Government Treasury Bills Worth RO 20 Million Issued

Tender Results of Government Treasury Bills Worth RO 20 Million Issued Muscat, 15 Apr (ONA) ---- The total issuance of Government Treasury Bills amounted RO 20 million. The value of the allotted Treasury bills amounted to RO 500 thousand, for a maturity period of 28 days. The average accepted price reached RO 99.650 for every RO 100, and the minimum accepted price arrived at RO 99.650 per RO 100. The average discount rate and the average yield reached 4.56250% and 4.57852%, respectively. The value of the allotted Treasury Bills amounted to RO 19.5 million, for a maturity ...

Hotel Revenue Exceed RO 52 Million by February 2024

Hotel Revenue Exceed RO 52 Million by February 2024 Muscat, 15 Apr (ONA) --- Statistics issued by the National Centre for Statistics and Information (NCSI) show that the total revenues of 3 to 5-star hotels in Oman by the end of February 2024 rose by 18.2% to RO 52,388,000 as against RO 44,415,000 during the corresponding period in 2023. The rise in revenues was due to an 18.2 rise in the total number of hotel guests that stood at 433,856 until the end of February 2024, compared to 366,969 guests by the end of February 2023. The rate of occupancy also grew by 11.2 percent, ...

State Revenue Exceed RO 1.9 Billion till End of February 2024

State Revenue Exceed RO 1.9 Billion till End of February 2024 Muscat, 15 Apr (ONA) --- The State’s public revenues till the end of February 2024 recorded a decline by 9% to stand at RO 1.958 billion compared to RO 2.148 billion during the corresponding period in 2023. This rise is attributed mainly to the decline in the net oil and gas revenue. The fiscal performance bulletin issued by the Ministry of Finance showed that the net oil revenue till the end of February 2024 dropped by 4%, registering RO 1.102 billion compared to RO 1.153 billion by the end of February 2023. The ...

MSX Gains 27 Points

MSX Gains 27 Points Muscat, 15 Apr (ONA) --- Muscat Stock Exchange (MSX) general index (30) today gained (27.1) points, comprising a rise by (0.58%) to close at (4727.73) points, compared to the last session, which stood at (4700.59) points. The trading value today stood at (RO 3,472,410), comprising a drop by (3.6%), compared to the last session, which stood at (RO 3,601,957). The report released by MSX pointed out that the market value went up by (0.284%) to reach about (RO 24.15) billion. The report added that the value of shares bought by non-Omani investors reached (RO ...

Data Centre Services Launched in All Parts of Oman

Data Centre Services Launched in All Parts of Oman Muscat, 15 Apr (ONA) --- Oman Broadband Company launched “data centre services” in all governorates of the Sultanate of Oman. Through its 40+ advanced data centres, the company seeks to significantly contribute to digital transition and realize the goals of economic diversification in Oman. Oman Broadband Company focuses on providing network connectivity solutions, making use of of the strategic location of its data centres and the strength of its infrastructure facilities. The company is keen to maintain highly efficient ...

Oman Oil Price Drops 76 Cents

Oman Oil Price Drops 76 Cents Muscat, 15 Apr (ONA) --- Oman oil price (June delivery 2024) today reached 89.59 US Dollars, comprising a drop by 76 cents compared to the price of last (Friday), which stood at 90.35 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’s Thawani Ranks Among 50 Most Powerful Financial Technology Firms in ME

Oman’s Thawani Ranks Among 50 Most Powerful Financial Technology Firms in ME Muscat, 14 Apr (ONA) --- Omani company “Thawani Technologies” was included in the list of the 50 most powerful companies in financial technology in the Middle East for the year 2024. This was unveiled by “Forbes Middle East”. “Forbes Middle East”, which rates leading and influential companies in financial technology in the region, credits contestants according to their points of strength in electronic payments, open banking platforms, investment, savings and lending applications among ...

Bank Muscat Money Market Fund Registers Strong Performance in 2024

Bank Muscat Money Market Fund Registers Strong Performance in 2024 Muscat, 14 Apr (ONA) ---- Bank Muscat Money Market Fund registered a strong performance with net annual returns of 5.20% realized for investors by the end of February 2024. With Assets Under Management (AUM) at over RO 91 million at the end of February 2024, the Fund retains its top position as the largest open-ended mutual fund in Oman. The superior performance and growth in the Fund’s assets are also a recognition of the popularity of the Fund amongst investors. The fund offers an attractive cash ...

Workers Federation Organizes Programme on Social Protection Law, Labour Law

Workers Federation organizes Programme on Social Protection Law, Labour Law Muscat, 14 Apr (ONA) --- Acting in cooperation with production parties and national authorities concerned, the General Federation of Oman Workers today began implementing the first stage of a field programme on the Social Protection Law and the provisions of the Labour Law. The programme, which started in Muscat Governorate, will continue for several days. The field programme seeks to consolidate the values of work and negotiation and to address the challenges that workers face when applying the ...

MSX Gains 3 Points

MSX Gains 3 Points Muscat, 14 Apr (ONA) --- Muscat Stock Exchange (MSX) general index (30) today gained (3.8) points, comprising a rise by (0.08%) to close at (4700.59) points, compared to the last session, which stood at (4696.81) points. The trading value today stood at (RO 3,601,957), comprising a drop by (88.3%), compared to the last session, which stood at (RO 30,755,171). The report released by MSX pointed out that the market value went down by (0.005%) to reach about (RO 24.08) billion. The report added that the value of shares bought by non-Omani investors reached ...

MSX Gains 7 Points

MSX Gains7PointsMuscat,8Apr (ONA) --- Muscat Stock Exchange (MSX) general index (30) today gained (7.4) points, comprising a rise by (0.19%) to close at (4696.81) points, compared to the last session, which stood at (4689.42) points.The report released by MSX pointed out that the market value went down by (0.038%) to reach about (RO 24.09) billion.The report added that the value of shares bought by non-Omani investors reached (RO258,000), comprising (0.84%). The value of shares sold by non-Omani investors reached (RO352,000), comprising (1.14%). The net non-Omani investment decreased by ...

Gold Prices Extend Record Rally

Gold Prices Extend Record RallyLondon, 8 Apr (ONA) --- Gold prices extended their record rally today, supported by speculative buying.Spot gold was up 0.3% at $2,335.73 per ounce, after hitting a record high of $2,353.79 earlier in the session.US gold futures gained 0.4% to $2,354.50.Strong central bank buying, safe-haven inflows amid elevated geopolitical risks, and demand from momentum-following funds have fueled bullion's 12% gain so far this year.US job growth blew past expectations in March, suggesting the economy ended the first quarter on solid ground and potentially delaying ...

Oman Oil Price Drops 81 Cents

Oman Oil PriceDrops 81 CentsMuscat,8Apr (ONA) --- Oman oil price (June delivery 2024) today reached 90.09US Dollars, comprising a drop by 81 cents compared to the price of last (Friday), which stood at 90.90 US Dollars.The average price of Oman oil (April delivery 2024) has stabilized at 80.85 US Dollars per barrel, thus 2.10 US Dollar per barrel higher than March delivery 2024.--- Ends/Anas ...

MSX Gains 8 Points

MSX Gains8PointsMuscat, 7 Apr (ONA) --- Muscat Stock Exchange (MSX) general index (30) today gained (8.8) points, comprising a rise by (0.19%) to close at (4689.42) points, compared to the last session, which stood at (4680.67) points.The trading value today stood at (RO 2,151,524), comprising a drop by (17.6%), compared to the last session, which stood at (RO 2,609,571).The report released by MSX pointed out that the market value went up by (0.235%) to reach about (RO 24.09) billion.The report added that the value of shares bought by non-Omani investors reached (RO 103,000), comprising ...

TRA Amends Regulation on Registration, Use of Radio Frequencies, Devices

TRA Amends Regulation on Registration, Use of Radio Frequencies, DevicesMuscat, 7 Apr (ONA) --- The Telecommunications Regulatory Authority (TRA) issued a decision amending some provisions of the Regulation organizing the registration and use of radio frequencies and devices and determining their rates and prices.The decision stems from the Authority’s efforts to efficiently manage natural and national resources and establish a flexible regulatory environment that keeps pace with developments.The decision, which also seeks to facilitate investment in innovative technologies and services, ...

Ministerial Decision Introduces Binding Omani Specifications

Ministerial Decision Introduces Binding Omani SpecificationsMuscat, 7 Apr (ONA) --- The Ministry of Commerce, Industry and Investment Promotion issued Ministerial Decision No. 120/2024 considering the GCC standard specifications for vehicles and motorcycles as binding Omani standard specifications.The decision seeks to ensure compatibility with the latest applicable safety standards and protect consumers and the environment.The abovementioned specifications require parties offering new vehicles for sale to put a fuel consumption data label on all each vehicle/motorcycle for consumers to ...