News

MSX Gains 37 Points Muscat, 16 Oct (ONA) --- Muscat Stock Exchange (MSX) continued its positive trajectory as the MSX 30 Index today gained 37.6 points to close at 5289.69 points, representing a 0.72 percent increase from the previous session's close of 5252.12 points. Trading activity saw a contraction in volume, with total turnover declining to RO 43.53 million, a 37.4 percent decrease compared to the previous session's RO 69.56 million. Despite the lower trading volume, market capitalization demonstrated resilience, expanding by 0.165 percent to reach approximately RO ...

Gold Reaches Historic Peak Amid Strong Investor Demand, Economic Uncertainty Tokyo, 16 Oct (ONA) --- Gold prices achieved a record high today as investors continued their strong pivot toward the precious metal against a backdrop of persistent geopolitical tensions and economic ambiguity. The rally was further supported by increasing market expectations for U.S. interest rate reductions and a concurrent softening of the U.S. dollar. Spot gold climbed 0.4 percent to $4,224.79 per ounce, having earlier reached an unprecedented peak of $4,225.69. December delivery U.S. gold ...

Oman Oil Price Rises 11 Cents Muscat, 16 Oct (ONA) --- Oman oil price (November delivery 2025) today reached 63 US Dollars, comprising a rise by 11 Cents compared to the price of yesterday “Wednesday”, which stood at 62.89 US Dollars. The average price of Oman oil (October delivery 2025) has stabilized at 69.33 US Dollars per barrel, thus 1.87 US Dollars per barrel lower than September delivery 2025. ---Ends/AH ...

Karwa Motors Officially Certified Builder of Mercedes-Benz Buses Brussels, 15 Oct (ONA) --- In a new milestone that reinforces the Sultanate of Oman’s position as an emerging industrial hub in the bus and vehicle manufacturing sector, a strategic partnership agreement was signed between Oman’s Karwa Motors and Mercedes-Benz (Daimler Truck Middle East & Africa) during the Busworld Europe 2025 exhibition held in the Belgian capital, Brussels. The agreement aims to expand regional and global bus manufacturing capabilities by designating Karwa Motors as an officially ...

Oman, UK Explore Prospects for Economic PartnershipMuscat, 15 Oct (ONA) — The Sultanate of Oman and the United Kingdom (UK) have explored prospects for enhancing trade and investment cooperation between the two countries and advancing the free trade agreement negotiations between the Gulf Cooperation Council (GCC) states and the United Kingdom. This aims to broaden economic partnerships and augment trade exchange.This took place during a virtual meeting held by Qais Mohammed Al Yousef, Minister of Commerce, Industry and Investment Promotion, with Sir Chris Bryant, UK Minister of State for ...

NCSI Receives Iraqi Delegation Muscat, 15 Oct (ONA) --- The National Centre for Statistics and Information (NCSI) today received a delegation from the Iraqi Commission of Statistics and Geographical Information Systems (COSIT) to exchange knowledge and expertise and enhance joint cooperation in the field of statistics. During its visit to the NCSI, the Iraqi delegation took note of mechanisms applied in automating statistical data and information procedures and the use of artificial intelligence (AI) technologies in the centre’s projects. The Iraqi delegation ...

Agreement Inked to Establish World Bank Group Office in OmanWashington, 15 Oct (ONA) — The Government of the Sultanate of Oman signed an agreement with the World Bank Group to establish an office for the Group in Oman. This office will represent its affiliated organizations, including the International Bank for Reconstruction and Development (IBRD), the International Development Association (IDA), the International Finance Corporation (IFC), and the Multilateral Investment Guarantee Agency (MIGA).The agreement was signed by Sultan Salim Al Habsi, Minister of Finance, and on behalf of the ...

Oman, Eritrea Discuss Ways to Enhance Cooperation in Commercial, Investment Fields Muscat, 15 Oct (ONA) --- Qais Mohammed Al Yousef, Minister of Commerce, Industry and Investment Promotion, today received Nesredin Mohammed Saleh, Minister of Trade and Industry in the Republic of Eritrea, who is on a two-day official visit to the Sultanate of Oman. During the visit, the Eritrean minister will meet officials from the public and private sectors to discuss ways of developing economic relations between Oman and Eritrea. Al Yousef and Nesredin Mohammed Saleh reviewed ...

Oman Oil Price Rises 15 Cents Muscat, 15 Oct (ONA) --- Oman oil price (November delivery 2025) today reached 62.89 US Dollars, comprising a rise by 15 Cents compared to the price of yesterday “Tuesday”, which stood at 62.74 US Dollars. The average price of Oman oil (October delivery 2025) has stabilized at 69.33 US Dollars per barrel, thus 1.87 US Dollars per barrel lower than September delivery 2025. ---Ends/AH ...

Arab Statistical Committee Convenes High-Level Meeting in Muscat Muscat, 14 Oct (ONA) --- The 43rd session of the Arab Permanent Technical Committee for Statistics commenced in Muscat today, gathering senior officials from Arab statistical organizations and representatives of international statistical bodies. The high-level meeting focused on advancing regional statistical cooperation and addressing contemporary challenges in data management. Delegates engaged in substantive discussions covering Arab statistical performance evaluation frameworks, data quality enhancement ...

Tax Suspension Introduced to Boost Maritime Competitiveness Muscat, 14 Oct (ONA) --- Tax Authority has introduced a significant five-year suspension of withholding tax on service contracts for vessels registered under the Omani flag, marking a strategic initiative to strengthen the nation's maritime sector. The measure, effective from 1 September 2025, through 31 August 2030, represents a targeted approach to enhancing Oman's position in the global maritime industry. According to Hossam bin Hamad Al Maamari, Director of the Tax Policy Department, this regulatory ...

MSX Gains 47 Points Muscat, 14 Oct (ONA) --- Muscat Stock Exchange (MSX) registered significant gains in today's trading session, with the benchmark MSX 30 Index closing at 5240.08 points, advancing 47.4 points or 0.91 percent from the previous close of 5192.64 points. Trading activity showed remarkable momentum, with total turnover reaching RO 60.65 million– a substantial 67.9 percent increase compared to the previous session's RO 36.12 million. Market capitalization saw positive movement, growing by 0.305 percent to approximately RO 30.51 billion, according to ...

Gold, Silver Extend Rally to Fresh Peak on Safe-Haven DemandSingapore, 14 Oct (ONA) --- Gold prices surged to a new record high above $4,100 today, driven by growing expectations of US Federal Reserve interest rate cuts and renewed US-China trade tensions that spurred safe-haven demand. Silver also rallied to an all-time high. Spot gold rose 0.4% to $4,124.79 per ounce, after touching a record $4,131.52 earlier in the session. US gold futures for December delivery gained 0.3% to $4,143.10. The precious metal has climbed nearly 57% since the beginning of the year, breaking above the $4,100 ...

Dollar Steady as US-China Trade Tensions EaseSingapore, 14 Oct (ONA) --- The dollar steadied today, as US President Donald Trump softened his tone on tariffs toward China, and hopes grew for a possible meeting with his Chinese counterpart, which gave a boost to expectations of easing tensions between the world's two largest economies. The euro remained below USD 1.16, trading at USD 1.1566. The British pound fell 0.06 percent to USD 1.3328, while the New Zealand dollar fell again, touching a six‑month low at USD 0.57145. The dollar index, which measures the performance of the US ...

ITHCA Announces Strategic Investment of RO 8 Million in Semiconductors, Smart CommunicationsMuscat, 14 Oct (ONA) --- ITHCA Group has announced a strategic investment of RO 8 million (US$20 million) in Movandi, a US-based leader in semiconductors and smart wireless connectivity solutions. This investment aligns with ITHCA Group’s strategy to strengthen Oman’s presence in key technology sectors — including artificial intelligence (AI), semiconductors, and smart communications infrastructure — in line with the objectives of Oman Vision 2040, which aims to build a knowledge- and ...

Oman Joins International Community in Observing World Standards Day Muscat, 13 Oct (ONA) --- Represented by the Ministry of Commerce, Industry and Investment Promotion, the Sultanate of Oman will join the international community in observing World Standards Day tomorrow, Tuesday 14 October 2025. The event will be celebrated under the theme "A Shared Vision for a Better World". The occasion embodies the importance of standards and partnerships as pillars for the realization of sustainable development goals (SDGs), notably SDG17 that focuses on enhancing cooperation among ...

Oman Engages in World Bank-IMF Annual Meetings to Strengthen Global Economic Partnerships Washington, 13 Oct (ONA) --- The Sultanate of Oman is actively participating in the 2025 Joint Annual Meetings of the World Bank Group and International Monetary Fund in Washington D.C. this week. The high-level delegation, led by Sultan bin Salim Al Habsi, Minister of Finance, is engaging in critical discussions on global economic outlook, sustainable development initiatives, and contemporary financial challenges facing the international community. The ministerial ...

Oman Participates in Closing Ceremony of Expo Osaka 2025 in Japan Osaka, 13 Oct (ONA) --- The Sultanate of Oman participated today in the closing ceremony of Expo 2025 Osaka – Kansai, Japan, concluding six months of international events that brought the world together under the theme "Designing Future Society for Our Lives." The ceremony was held under the patronage of His Imperial Highness Prince Akishino, Crown Prince of Japan and Honorary President of the Expo's Supreme Organizing Committee. The Omani delegation to the ceremony was headed by Sayyid Said bin Sultan ...

Forum on "Economic Readiness to Confront Global Shocks" Reviews Systematic Preparedness for VariablesMuscat, 13 Oct (ONA) — The Ministry of Economy today organized a forum titled "Economic Readiness to Confront Global Shocks: Opportunities and Challenges," coinciding with the International Day for Disaster Risk Reduction. The forum reviewed efforts to enhance economic resilience and systematic preparedness for variables.The forum was held under the patronage of Dr. Said Mohammed Al Saqri, Minister of Economy.In his speech, Dr. Nasser Rashid Al Maawali, Undersecretary of the Ministry of ...

Sohar Investment Forum 2026 Launches Preparations with Strategic Business Gathering Muscat, 13 Oct (ONA) --- Oman Chamber of Commerce and Industry (OCCI) has commenced preparations for the second edition of Sohar Investment Forum 2026, hosting an inaugural coordination meeting ahead of the event scheduled for 4-5 February 2026, in Sohar, North Al Batinah Governorate. The forum will operate under the theme "Sohar: The Industrial Investment Destination," reinforcing the zone's strategic position within Oman's economic development framework. The preliminary ...

Oman's Refinery Production Climbs 6.2% Through August 2025 Muscat, 13 Oct (ONA) --- Oman's refinery sector recorded a 6.2 percent increase in total production through August 2025, according to preliminary data from the National Centre for Statistics and Information (NCSI). This overall growth occurred alongside a 6.8 percent month-over-month decline in motor fuel production compared to July 2025 figures. The petroleum products market displayed varied performance across different categories. Regular gasoline (91 octane) production reached 11.36 million barrels, ...

Oman's IoT Market Expands by 78.9% as Digital Connectivity Grows Muscat, 13 Oct (ONA) --- Oman's Internet of Things (IoT) sector demonstrated remarkable expansion, with subscriptions surging 78.9 percent to reach 1.57 million by the end of August 2025. The latest figures from the National Centre for Statistics and Information (NCSI) reveal substantial progress across Oman's telecommunications landscape. Mobile broadband services showed strong performance with active subscriptions reaching 5.58 million, while fixed broadband connections grew 3.1 percent to ...

MSX Closes Slightly Lower Muscat, 13 Oct (ONA) --- Muscat Stock Exchange (MSX) "30" index closed today's trading session at 5192.64 points, declining by 0.5 points or 0.01 percent compared to the previous session's close of 5193.16 points. Trading value reached RO 36.124 million, reflecting a 16.3 percent increase compared to the last session's value of RO 31.060 million. According to the MSX report, the market capitalization decreased by 0.537 percent from the previous trading day, settling at approximately RO 30.42 billion. Non-Omani investors recorded ...

Tender Results of Government Treasury Bills Worth RO 9.25 Million IssuedMuscat, 13 Oct (ONA) --- The total issuance of Government Treasury Bills amounted to RO 9.25 million this week for a maturity period of 91 days. The average accepted price reached RO 99.055 for every RO 100 and the minimum accepted price arrived at RO 99.050 per RO 100. The average discount rate and the average yield reached 3.78876% and 3.82489%, respectively.Treasury Bills are short-term highly secured financial instruments issued by the Ministry of Finance, and they provide licensed commercial banks the ...

Oman Advances Energy Transition Strategy at Major Industry Conference Muscat, 13 Oct (ONA) --- Oman's energy transformation agenda took center stage as the fourth IEEE PowerTalks 2025 inaugurated today under the theme "Accelerating Oman's Energy Transition." The three-day conference, hosted at Oman Convention and Exhibition Centre, brings together international experts and industry leaders to address Oman's evolving energy landscape. Dr. Said bin Hamad Al Rubaie, Vice Chancellor of the University of Technology and Applied Sciences, inaugurated the ...

Oil Rebounds on Hopes of Easing US-China Trade TensionsSingapore, 13 Oct (ONA) --- Oil prices rebounded today, recovering from five-month lows recorded in the previous session, as investors expressed optimism that potential talks between the presidents of the United States and China could help ease trade tensions between the world's two largest economies and top oil consumers. Brent crude futures rose 87 cents, or 1.4%, to $63.60 per barrel, after slumping 3.8% on Friday to their lowest level since 7 May 2025. US West Texas Intermediate (WTI) crude climbed 87 cents, or 1.5%, to $59.77 per ...

Gold, Silver Hit Fresh Record HighsSingapore, 13 Oct (ONA) --- Gold and silver prices surged to new record highs today, driven by strong safe-haven demand amid renewed trade tensions between the United States and China, as well as expectations that the US Federal Reserve will cut interest rates. Spot gold rose 0.7% to $4,044.29 per ounce, while US gold futures for December delivery advanced 1.6% to $4,062.50. Silver climbed 2% in spot trading to a record $51.52 per ounce, extending its recent rally. Gold, which yields no interest, has gained 54% so far this year, supported by anticipation of ...

Dollar Recovers Amid Trade Tension Between US and ChinaSingapore, 13 Oct (ONA) --- The US dollar today recovered after an early-session sell-off, amid an escalation in the trade war between Washington and Beijing. Meanwhile, political developments in France and Japan undermined the euro and the yen. The dollar index, which measures the performance of the US currency against a basket of six major currencies, rose to 99.002. Against the yen, the dollar reached 151.985 yen, up 0.5%. The euro remained steady at $1.1609, down 0.1%, after the French presidency announced the formation of a new ...

AITRS Board of Trustees Holds 50th Meeting in MuscatMuscat, 13 Oct (ONA) — The 50th session of the Board of Trustees of the Arab Institute for Training and Research in Statistics (AITRS) was held today in Muscat, in the presence of the heads of Arab statistical agencies, some representatives from regional and international organizations and members of the Board of Trustees.The session reviewed a number of key items, including an evaluation of the Institute's 2020–2030 strategy, the approval of the 2026–2027 action plan and budget, a discussion of the performance evaluation study ...

Development Bank Surpasses RO 100 Million in Micro-Project FinancingMuscat, 13 Oct (ONA) — The Development Bank has achieved a significant milestone, with its lending portfolio for micro-projects exceeding RO 100 million by the end of September 2025. This was accomplished through financing over 20,000 small projects across various production and service sectors, distributed evenly across all governorates of the Sultanate of Oman, reflecting balanced regional development.This achievement translates the government’s approaches, represented by the Ministry of Finance, into tangible outcomes, ...