News

Halting Tax at Source on Stock Dividends Makes MSX an Attractive Investment DestinationMuscat, 11 Jan (ONA) --- Abdullah Salim Al Salmi, CEO of the Capital Market Authority (CMA), said that the Royal orders to suspend the application of Tax Deducted at Source (TDS) on dividends and interest on sukuk and bonds, to the advantage of foreign investors, affirms His Majesty Sultan Haitham bin Tarik’s keenness to provide all factors that enhance the investment environment and make Muscat Stock Exchange (MSX) an attractive investment destination for foreign capital.The Royal directives also ...

Oman Housing Bank Stresses that Royal Directives will Boost UrbanizationMuscat, 11 Jan (ONA) --- Musa Masoud Al Jadidi, CEO of Oman Housing Bank (OHB) has said that the Royal directives of His Majesty Sultan Haitham bin Tarik to strengthen the partnership between OHB and local banks stem from His Majesty's keenness on everything that would provide avenues for a decent life for Omani people and adequate housing for Omani families in a manner that fits with development plans espoused by the government.Al Jadidi told Oman News Agency (ONA) that the Royal directives will contribute ...

ODB Pledges to Enhance its Developmental Role in All Governorates of OmanMuscat, 11 Jan (ONA) --- Oman Development Bank (ODB) expressed pride over the directives of His Majesty Sultan Haitham bin Tarik, noting that the Royal directives reflect His Majesty’s keenness on the need to utilize all resources to achieve economic growth that the government strives to achieve in order to realize prosperity and well-being for Omani citizens in accordance with the objectives of Oman Vision 2040.A statement issued by ODB said, “The bank works diligently under the supervision and follow-up of ...

MSX Gains 7 Points Muscat, 11 Jan (ONA) --- Muscat Stock Exchange (MSX) general index (30) today gained (7.5) points, comprising a rise by (0.15%) to close at (4879.39) points, compared to the last session, which stood at (4871.86) points. The trading value today stood at (RO 2,113,602), comprising a drop by (46.9%), compared to the last session, which stood at (RO 3,983,428). The report released by MSX pointed out that the market value went up by (0.028%) to reach about (RO 23.75) billion. The report added that the value of shares bought by non-Omani investors reached ...

Oman Oil Price Rises 76 Cents Muscat, 11 Jan (ONA) --- Oman oil price (March Delivery 2023) today reached 76.97 US Dollars, comprising a rise by 76 cents from the price of yesterday (Tuesday), which stood at 76.21 US Dollars. The average price of Oman oil (January Delivery 2022) has stabilized at 86.15 US Dollars per barrel, thus 4.64 US Dollars per barrel lower than December Delivery 2022. --- Ends/AG ...

Private Sector Establishments Exempted of OOCI Arrears, Renewal Fees OutstandingMuscat, 10 Jan (ONA) --- Oman Chamber of Commerce and Industry (OCCI) Board of Directors has endorsed writing off outstanding fees and renewal fees of OCCI membership over the past years. This decision will take effect for four months, starting 1 February 2023.OCCI board held its first meeting for this year (2023) at OCCI headquarters in Muscat under the auspices of Faisal Abdullah Al Rowas, Chairman of the OCCI Board.The OCCI board affirmed its keenness to make the private sector a ...

Agreements, MoU Inked in LNG, Green Hydrogen FieldsMuscat, 10 Jan (ONA) --- Several agreements and a memorandum of understanding (MoU) were signed at OQ Group’s headquarters today in the field liquefied natural gas and green hydrogen. The Ministry of Energy and Minerals signed a Letter of Intent with Oman Shell company to explore opportunities for the production of Liquefied Synthetic Gas (LSG) in the Sultanate of Oman. LSG is produced when green hydrogen is combined with captured carbon dioxide to produce natural gas which is then liquefied. This low-carbon gas can ...

MSX Gains 24 Points Muscat, 10 Jan (ONA) --- Muscat Stock Exchange (MSX) general index (30) today gained (24.2) point, comprising a rise by (0.50%) to close at (4871.86) points, compared to the last session, which stood at (4847.66) points. The trading value today stood at (RO 3,983,428), comprising a surge by (183.7%), compared to the last session, which stood at (RO 1,403,979). The report released by MSX pointed out that the market value went up by (0.122%) to reach about (RO 23.75) billion. The report added that the value of shares bought by non-Omani investors reached ...

Tender Results Issue No. 574 of Government Treasury Bills Worth RO 27 Million Issued Muscat, 10 Jan (ONA) --- A tender of Government Treasury Bills, issue number 574, worth RO 27 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 theadded advantage of ready liquidity through discounting and repurchase facilities (Repo). The results of ...

First Shipment of Crude Oil Received Successfully at Ras Markaz TerminalDuqm, 10 Jan (ONA) --- International Integrated Energy Group "OQ" announced today the successful reception of the first shipment of crude oil at Ras Markaz Crude Oil Storage and Export Terminal.Located in Al Wusta Governorate, the project is being carried out by OQ subsidiary Oman Tank Terminal Company (OTTCO).The project spearheads the group's strategic set of projects that benefit from Oman’s strategic location, notably in Al Duqm region. The project provides alternatives to storing oil outside the Strait of ...

MV Elysium Cruise Ship Visits Port Sultan Qaboos Muscat, 10 Jan (ONA) --- Port Sultan Qaboos today received the Greek cruise ship “MV Elysium” of Elixir Cruises in its first visit to the Sultanate of Oman. The cruise ship will make calls at various ports in Oman before returning again to Muscat in its journey that starts on 14 January till 5 May 2023. The ship’s journey route allows tourists to tour different tourism sites in Oman’s governorates. --- Ends/AG ...

Tender Results Issue No. 148 of Government Treasury Bills Worth RO 16 Million Issued Muscat, 10 Jan (ONA) --- A tender of Government Treasury Bills, issue number 148, worth RO 16 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 theadded advantage of ready liquidity through discounting and repurchase facilities (Repo). The results ...

Oman Oil Price Drops 1.02 US Dollar Muscat, 10 Jan (ONA) --- Oman oil price (March Delivery 2023) today reached 76.21 US Dollars, comprising a drop by 1.02 US Dollar from the price of yesterday (Monday), which stood at 77.23 US Dollars. The average price of Oman oil (January Delivery 2022) has stabilized at 86.15 US Dollars per barrel, thus 4.64 US Dollars per barrel lower than December Delivery 2022. --- Ends/AG ...

Standards Launched on Environmental, Social Disclosure by Firms Listed on GCC Stock ExchangesMuscat, January 9 (ONA) --- The GCC Stock Exchanges Committee today issued a unified package of environmental, social and governance disclosure standards for companies listed on GCC stock exchanges.The package includes 29 standards compatible with the goals of the World Federation of Exchanges and the UN Sustainable Stock Exchanges (SSE) Initiative.The standards' launch constitutes a major step forward in standardizing reports on environmental, social and governance practices in GCC states. ...

Omani Symposium Reviews Space Sector Executive ProgrammeMuscat, 9 Jan (ONA) --- The Ministry of Transport, Communications and Information Technology today organized Oman Space Sector Symposium, themed "Future Approaches and Investment Opportunities". The symposium reviewed the executive programme for the space sector, the reality and future of the space sector plans and investment opportunities in this field.The symposium was opened by Dr. Mohammed Nasser Al Za’abi, Secretary General at the Ministry of Defence.The symposium was aimed at introducing the space sector policy and ...

Workshop Held on Economic Partnerships with Countries of the World Muscat, 9 Jan (ONA) --- The Ministry of Commerce, Industry and Investment Promotion, in cooperation with authorities concerned, today organized a workshop on economic partnerships with countries of the world and benefiting from partnership agreements between the Sultanate of Oman and the United Arab Emirates (UAE). During the workshop, the UAE's experience in economic partnerships with countries of the world was reviewed. The review covered regional trade agreements to improve the business environment, open ...

OCCI Receives UAE Trade Delegation Muscat, 9 Jan (ONA) --- Oman Chamber of Commerce and Industry (OCCI) today received a business delegation from the United Arab Emirates (UAE) led by Dr. Thani Ahmed Al Zeyoudi, Minister of State for Foreign Trade. The meeting explored means of developing trade and economic relations, as well as enhancing the trade exchange between the two countries. Businessmen and businesswomen were briefed on investment opportunities in the two countries. The meeting also touched on mechanisms of diversifying and enhancing joint interests between the ...

Commerce Minister Receives UAE Minister of Foreign TradeMuscat, 9 Jan (ONA) --- Qais Mohammed Al Yousef, Minister of Commerce, Industry and Investment Promotion received here today Dr. Thani Ahmed Al Zeyoudi, Minister of State for Foreign Trade of the United Arab Emirates (UAE). The two sides discussed a range of topics of concern to the two countries. They also reviewed means of promoting the joint cooperation in trade sector. The two sides also exchanged expertise in organizing commercial work, limiting difficulties and increasing the trade exchange between the Sultanate of ...

MSX Gains 14 Points Muscat, 9 Jan (ONA) --- Muscat Stock Exchange (MSX) general index (30) today gained (14.4) point, comprising a rise by (0.30%) to close at (4847.66) points, compared to the last session, which stood at (4833.26) points. The trading value today stood at (RO 1,403,979), comprising an increase by (38.3%), compared to the last session, which stood at (RO 1,014,875). The report released by MSX pointed out that the market value went up by (0.084%) to reach about (RO 23.72) billion. The report added that the value of shares bought by non-Omani investors ...

Oman Oil Price Rises 1.94 US Dollars Muscat, 9 Jan (ONA) --- Oman oil price (March Delivery 2023) today reached 77.23 US Dollars, comprising a rise by 1.94 US Dollars from the price of last (Friday), which stood at 75.29 US Dollars. The average price of Oman oil (January Delivery 2022) has stabilized at 86.15 US Dollars per barrel, thus 4.64 US Dollars per barrel lower than December Delivery 2022. --- Ends/Anas ...

MSX Drops 34 PointsMuscat, 8 Jan (ONA) --- Muscat Stock Exchange (MSX) general index (30) today lost (34.8) point, comprising a drop by (0.72%) to close at (4833.26) points, compared to the last session, which stood at (4868.09) points.The trading value today stood at (RO 1,014,875), comprising a decline by (79.3%), compared to the last session, which stood at (RO 4,912,267).The report released by MSX pointed out that the market value went down by (0.250%) to reach about (RO 23.70) billion.The report added that the value of shares bought by non-Omani investors reached (RO 102,000), ...

Real Estate Deals Value in Oman Exceeds RO 2.3 Billion Muscat, 8 Jan (ONA) --- The value of real estate transactions in the Sultanate of Oman by the end of November 2022, reached RO 2,311.5 million compared to RO 2,375.6 million during the corresponding period in 2021, constituting a decline by 2.7%, according to the latest data issued by the National Centre for Statistics and Information. Fees collected for completed legal transactions amounted to RO 57.7 million compared to RO 78.8 million during the corresponding period in 2021, constituting a fall by 26.8%. Transactions value of ...

Oman, Qatar Ink Minutes of MoUs Documents in Oil, Gas, TourismMuscat, 5 Jan (ONA) —- The Sultanate of Oman and the State of Qatar signed here today minutes on exchanging documents of memoranda of understanding (MoUs) in fields of oil, gas and tourism.The minutes was signed from Oman’s government by Mohammed Nasser Al Wahibi, Undersecretary of the Foreign Ministry of Administrative and Financial Affairs whilst it was signed from the Qatari side by Sheikh Jassim Abdulrahman Al Thani, Ambassador of Qatar to Oman.—- Ends/Khalid ...

MSX Gains 19 Points Muscat, 5 Jan (ONA) --- Muscat Stock Exchange (MSX) general index (30) today gained (19.7) point, comprising a rise by (0.41%) to close at (4868.09) points, compared to the last session, which stood at (4848.40) points. The trading value today stood at (RO 4,912,267), comprising a surge by (82.7%), compared to the last session, which stood at (RO 2,688,392). The report released by MSX pointed out that the market value went up by (0.026%) to reach about (RO 23.76) billion. The report added that the value of shares bought by non-Omani investors reached ...

Oman Oil Price Drops 2 US Dollars Muscat, 5 Jan (ONA) --- Oman oil price (March Delivery 2023) today reached 75.18 US Dollars, comprising a drop by 2 US Dollars from the price of yesterday (Wednesday), which stood at 77.18 US Dollars. The average price of Oman oil (January Delivery 2022) has stabilized at 86.15 US Dollars per barrel, thus 4.64 US Dollars per barrel lower than December Delivery 2022. --- Ends/Anas ...

Sohar Flour Mills Inaugurates RO 21m Grain Storage SilosWorth Sohar, 4 Jan (ONA) --- Sohar Flour Mills, one of the investments of Oman Flour Mills, today celebrated the inauguration of grain storage silos at Sohar Industrial Port. The cost of the project stood at RO 21 million and with a storage capacity that reaches 160,000 MT.The inauguration ceremony was held under the auspices of Qais Mohammed Al Yousef, Minister of Commerce, Industry and Investment Promotion.The project is considered as one of the strategic national projects that aim at bolstering the capability for reserving grain to ...

Housing Ministry Inks 8 Agreements for Land Use, Integrated Cities Muscat, 4 Jan (ONA) --- To the tune of more than RO 150 million, the Ministry of Housing and Urban Planning today signed eight agreements to implement projects in the fields of real estate development and integrated service stations in the governorates of Muscat, North Al Batinah and South Al Batinah.The agreements include the construction of an integrated city in the Wilayat of Al Amerat comprising full urban facilities, on an area of more than 445,000 sqm. The city will provide 1,050 housing units valued at RO 60 ...

MSX Drops 22 Points Muscat, 4 Jan (ONA) --- Muscat Stock Exchange (MSX) general index (30) today lost (22.9) point, comprising a drop by (0.47%) to close at (4848.40) points, compared to the last session, which stood at (4871.30) points. The trading value today stood at (RO 2,688,392), comprising a decline by (24.6%), compared to the last session, which stood at (RO 3,566,253). The report released by MSX pointed out that the market value went down by (0.069%) to reach about (RO 23.75) billion. The report added that the value of shares bought by non-Omani investors reached ...

Asian Shares Rise on China Recovery Hopes Tokyo, 4 Jan (ONA) ---- Asian stocks rose broadly on Wednesday and the dollar eased after reports emerged that the wave of Covid infections sweeping across China may already have peaked in some of the country's largest cities.Traders keenly awaited minutes from the Federal Reserve's December meeting later in the day and Friday's employment report for clues to the central bank's future actions.Fed funds futures traders are pricing for rate cuts later this year despite hawkish rhetoric from Fed officials. China's Shanghai Composite index edged ...

Oman Oil Price Drops 5.08 US Dollars Muscat, 4 Jan (ONA) --- Oman oil price (March Delivery 2023) today reached 77.18 US Dollars, comprising a drop by 5.08 US Dollars from the price of yesterday (Tuesday), which stood at 82.26 US Dollars. The average price of Oman oil (January Delivery 2022) has stabilized at 86.15 US Dollars per barrel, thus 4.64 US Dollars per barrel lower than December Delivery 2022. --- Ends/Anas ...