News

Oman Flour Inaugurates Gulf International Poultry Farm, Investment Cost Exceeding RO 26 Million Muscat, 8 Dec (ONA) --- Oman Flour Mills (OFM) celebrated the inauguration of the Gulf International Poultry Farm for producing eggs at Subaikhi in the Wilayat of Ibri in the Governorate of A’Dhahirah. The inauguration ceremony was held under the patronage of Dr. Saud Hamoud Al Habsi, Ministerof Agriculture, Fisheries and Water Resources. The minister said that the self-sufficiency rate to which the project will contribute is between 30 to 35 percent. Al Habsi adding that in ...

Oman Oil Price Declines 1.86 US Dollar Muscat, 8 Dec (ONA) --- Oman oil price (February Delivery 2023) today reached 73.14 US Dollars, comprising a drop by 1.86 US Dollar from the price of yesterday (Wednesday), which stood at 75 US Dollars. The average price of Oman oil (December Delivery 2022) has stabilized at 90.79 US Dollars per barrel, thus 1 cent per barrel lower than November 2022. --- Ends/Khalid ...

MoC Inked to Implement Initiative on Augmenting Local Content in Energy SectorMuscat, 7 Dec (ONA) --- The National Employment Programme (NEP), Mazoon Electricity Company and the Industrial Innovation Academy today signed a memorandum of cooperation (MoC) to implement an initiative titled “Augmenting local content in the energy sector”.The MoC seeks to enhance cooperation among the three parties to develop and implement requirements of local content in the energy sector by empowering Omani small and medium enterprises (SMEs) operating in the sector.The MoC provides for allocating ...

Oman Broadband Signs Agreements to Provide More Financing for Extending Coverage Across Oman Muscat, 7 Dec (ONA) --- Oman Broadband has announced the signing of long-term financing agreements with several banks in the Sultanate of Oman. The agreements’ value worth RO 171 million and spanning for a period of 15 years. The agreements aim to refinance the loan of the Asian Infrastructure Investment Bank (AIIB) for infrastructure investment, and for the provision of additional financing to support the expansion of Omani fiber optic network coverage across the Sultanate of ...

MSX Gains 65 PointsMuscat, 7 Dec (ONA) --- Muscat Stock Exchange (MSX) general index (30) today gained (65.5) points, comprising a rise by (1.41%) to close at (4723.7‪‪5) points, compared to the last session, which stood at (‪‪‪‪4658.29) points.The trading value today stood at (RO 11,492,363), comprising a surge by (200.4%), compared to the last session, which stood at (RO 3,825,281).The report released by MSX pointed out that the market value went up by (0.464%) to reach about (RO 23.65) billion.The report added that the value of shares bought by non-Omani investors ...

OQ Acquires Exolum’s Stake in OQ Logistics CompanyMuscat, 7 Dec (ONA) --- Represented by the Refineries and Petroleum Industries sector, OQ has acquired the 40% stake of Spanish company Exolum in OQ Logistics firm.Through this acquisition, OQ Refineries and Petroleum Industries LLC now holds 100% shareholding in OQ Logistics LLC. This is considered a significant step forward in the integration of the logistics infrastructure and regularization of the business framework, which contributes to the growth of the petroleum industries’ logistic services sector. OQ ...

Oman Oil Price Declines 3 US DollarsMuscat, 7 Dec (ONA) --- Oman oil price (February Delivery 2023) today reached 75 US Dollars, comprising a drop by 3 US Dollars from the price of yesterday (Tuesday), which stood at 78 US Dollars.The average price of Oman oil (December Delivery 2022) has stabilized at 90.79 US Dollars per barrel, thus 1 cent per barrel lower than November 2022.--- Ends/Thuraiya/KH ...

Oman Green Hydrogen Summit Explores Green Hydrogen Economy Strategy, ProjectsMuscat, 6 Dec (ONA) —- Oman Green Hydrogen Summit kicked off at Oman Convention and Exhibition Centre here today. The conference reviews the strategy of the green hydrogen economy in Oman, infrastructure and the in-country value (ICV) in the sector, as well as partnerships, investment and green hydrogen projects.Eng. Salem Nasser Al Aufi, Minister of Energy and Minerals, stressed that Oman Sustainability Centre specializes in following up the progress made in Oman’s efforts to achieve carbon neutrality by 2050. ...

MSX Declines 5 PointsMuscat, 6 Dec (ONA) --- Muscat Stock Exchange (MSX) general index (30) today lost (5.2) points, comprising a drop by (0.11%) to close at (4658.29) points, compared to the last session, which stood at (4663.47) points.The trading value today stood at (RO 3,825,281), comprising a rise by (13.05%), compared to the last session, which stood at (RO 3,383,776).The report released by MSX pointed out that the market value went down by (0.294%) to reach about (RO 23.54) billion.The report added that the value of shares bought by non-Omani investors reached (RO 960,000), comprising ...

Oman Oil Price Declines 2.87 US DollarsMuscat, 6 Dec (ONA) --- Oman oil price (February Delivery 2023) today reached 78 US Dollars, comprising a drop by 2.87 US Dollars from the price of yesterday (Monday) which stood at 80.87 US Dollars.The average price of Oman oil (December Delivery 2022) has stabilized at 90.79 US Dollars per barrel, thus 1 cent per barrel lower than November 2022.--- ...

Tender Results Issue Number 571 of Government Treasury Bills Worth RO 15.4 Million IssuedMuscat, 6 Dec (ONA) —- A tender of Government Treasury Bills, issue number 571, worth RO 15.4 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 of the said issue ...

OQ Signs Two Memoranda for Green Fuel SupplyMuscat, 5 Dec (ONA) —- The Alternative Energy (AE) business unit of OQ company today signed a memorandum of cooperation (MoC) with Asyad Group, A.P. Moller-Maersk and Sumitomo Corporation Middle East on conducting a feasibility study for the provision and supply of green fuel in the Sultanate of Oman.The MoC, signed on the sidelines of the Oman Green Hydrogen Summit 2022, provides that the joint parties discuss the commercial and technical feasibility of providing and supplying green ammonia and green methanol in the ports of Duqm and Salalah for ...

MSX Gains 41 PointsMuscat, 5 Dec (ONA) --- Muscat Stock Exchange (MSX) general index (30) today gained (41.3) points, comprising a rise by (0.89%) to close at (4663.47‪‪) points, compared to the last session, which stood at (‪‪‪‪4622.13) points.The trading value today stood at (RO 3,383,776), comprising a surge by (221.9%), compared to the last session, which stood at (RO 1,051,278).The report released by MSX pointed out that the market value went up by (0.489%) to reach about (RO 23.61) billion.The report added that the value of shares bought by non-Omani investors ...

Green Hydrogen Summit Kicks off, Exhibition OpenedMuscat, 5 Dec (ONA) --- Activities of the Green Hydrogen Summit kicked off at Oman Convention and Exhibition Centre in Muscat today.The opening ceremony of the exhibition was held under the patronage of Eng. Salim Nasser Al Awfi, Minister of Energy and Minerals, who underscored the importance of the hydrogen sector in transitioning carbon-based energy to renewable and clean energy.He added that hydrogen is one of the outputs or derivatives of clean energy and can be used to export solar energy and wind energy to local industries and ...

Oman Participates in Big 5 Exhibition in Dubai Dubai, 5 Dec (ONA) --- The Sultanate of Oman, represented by the Ministry of Commerce, Industry and Investment Promotion, is participating in the Big 5 exhibition, which is being held in Dubai, United Arab Emirates (UAE). Oman’s participation at this event aims at promoting non-oil Omani exports, exploring export opportunities and attracting foreign capital and investments to the Sultanate of Oman. Oman is taking part in the exhibition, which will continue until this Thursday, with a number of Omani companies specializing in the ...

Oman Oil Price Declines 25 Cents Muscat, 5 Dec (ONA) --- Oman oil price (February Delivery 2023) today reached 80.87 US Dollars, comprising a drop by 25 cents from the price of last (Friday) which stood at 81.12 US Dollars. The average price of Oman oil (December Delivery 2022) has stabilized at 90.79 US Dollars per barrel, thus 1 cent per barrel lower than November ...

Jumeirah Muscat Bay Hotel Opened to the Tune of RO 60 MillionMuscat, 4 Dec (ONA) --- A ceremony was held here today to mark the official inauguration of Jumeirah Muscat Bay, a 32,000 sqm seafront five-star hotel comprising 206 rooms, suites, multipurpose halls and a diving centre.The RO 60 million resort was opened under the auspices of Salim bin Mohammed Al Mahrouqi, Minister of Heritage and Tourism.The minister said, “The opening of the hotel caps the efforts made by various entities to enhance the tourism sector and provide a range of products that employ the unique aesthetic ...

MSX Gains 8 PointsMuscat, 4 Dec (ONA) --- Muscat Stock Exchange (MSX) general index (30) today gained (8.4) points, comprising a rise by (0.18%) to close at (4622.13‪‪) points, compared to the last session, which stood at (‪‪‪‪4613.72) points.The trading value today stood at (RO 1,051,278), comprising a drop by (85.8%), compared to the last session, which stood at (RO 7,418,377).The report released by MSX pointed out that the market value went down by (0.058%) to reach about (RO 23.49) billion.The report added that the value of shares bought by non-Omani investors reached ...

Jindal Shadeed Group to Invest USD 3 Billion to Produce Green Steel at Duqm Muscat, 4 Dec (ONA) --- Jindal Shadeed Group announced that it has selected the Special Economic Zone at Duqm (SEZAD) in the Sultanate of Oman to establish a manufacturing facility. Slated to be the largest of its kind within the zone to produce green steel, the factory will also utilize renewable energy sources in its manufacturing operations.This announcement was made at a ceremony that included the signing of a Memorandum of Understanding and a land allocation agreement. The event was held under the auspices ...

Tasks of Converting Industries Projects Incubators Kick offMuscat, 4 Dec (ONA) --- The Ministry of Commerce, Industry and Investment Promotion started to implement incubators for resolving challenges facing the converting industries sector.The five-day programme is undertaken through cooperation with Oman Vision 2040 Implementation Follow-up Unit and the Industrial Innovation Academy.The incubators deal with three main themes: “infrastructure and public services”, “laws and legislation” and “investment and financing”.More than 60 people representing various government and ...

Sohar Free Zone Records 11.2pc Growth in Exports by September 2022Sohar, 3 Dec (ONA) —— Sohar Free Zone achieved a remarkable performance during the third quarter of 2022, recording an 11.2 percent growth in exports and a 4.2 percent increase in land occupancy compared to the same period of last year.Omar Mahmoud Al Mahrezi, CEO of Sohar Free Zone and Deputy CEO of Sohar Port said, “The percentage of land occupancy in the first phase has now reached 75 percent in the Free Zone in Sohar, as a result of the various incentives and advantages it offers to attract foreign direct investment. ...

Inbound, Outbound Cargo Handling in Sohar Port Increases by 32pcSohar, 3 Dec (ONA) —— Sohar Port has managed to achieve outstanding results during the third quarter of 2022, as the handling of inbound and outbound goods (total production capacity) at the port increased by 32 percent compared to the same period last year.The port continued to promote the growth and development of the shipping and logistics sectors in the country, as it recorded a 38 percent growth in the volume of dry bulk cargo, reaching nearly 11.8 million tons, while liquid cargo increased by 28 percent, to more than 5 ...

Gulf International Poultry Farm to Open in Ibri ThursdayMuscat, 3 Dec (ONA) —— Oman Flour Mills (OFM) will celebrate this Thursday, the inauguration of the Gulf International Poultry Farm for producing eggs at Subikhi in the Wilayat of Ibri, the Governorate of A’Dhahirah.The new Gulf International Poultry Farm is extended on an area of 18 million square meters, and it is considered as one of the largest poultry farms for table egg production in the GCC countries.The new poultry farm was founded in partnership between Atyab investment, which is affiliated to Oman Flour Mills, the ...

Oman, KSA Ink MoU in Tourism Cooperation Field Riyadh, 29 Nov (ONA) --- The Ministry of Heritage and Tourism today signed a memorandum of understanding (MoU) in the tourism field with the Ministry of Tourism of the Kingdom of Saudi Arabia (KSA). The MoU was signed on the sidelines of the 22nd Global Summit of World Travel and Tourism Council (WTTC). The MoU was signed by Salim Mohammed Al Mahrouqi, Minister of Heritage and Tourism and Ahmed Aqeel Al Khateeb, Saudi Minister of Tourism. The memorandum aims to intensify cooperation in the tourism field between the ...

CBO Participates in Meeting of Governors of GCC Central Banks, People’s Bank of ChinaMuscat, 29 Nov (ONA) --- The Central Bank of Oman (CBO) today took part in a joint meeting between governors of GCC central banks and the People’s Bank of China.Tahir Salim Al Amri, Executive President of the CBO, headed the Omani side at the meeting, which was held via videoconferencing.The meeting endorsed a joint action plan between GCC central banks and the People’s Bank of China. The plan covers various areas of common concern, including the system of payments, combating money laundering ...

MSX Gains 1 PointMuscat, 29 Nov (ONA) --- Muscat Stock Exchange (MSX) general index (30) today gained (1.1) point, comprising a rise by (0.02%) to close at (4613.72) points, compared to the last session, which stood at (4612.64) points.The trading value today stood at (RO 7,418,377), comprising a surge by (133.0%), compared to the last session, which stood at (RO 3,183,844).The report released by MSX pointed out that the market value went up by (0.031%) to reach about (RO 23.51) billion.The report added that the value of shares bought by non-Omani investors reached (RO 1,393,000), ...

Summit Explores Future of Islamic BankingMuscat, 29 Nov (ONA) --- The first session of the Islamic Banking and Finance Summit 2022 kicked off here today with a view to exploring the future of Islamic banking.The forum, which opened under the auspices of HH Sayyid Fahr Fatik Al Said, was attended by officials, experts and specialists in Islamic banking and collaborative insurance (Takaful) in Oman and abroad.The forum included speeches, presentations and working papers on regulatory and legal developments in the finance sector. A special discussion session was held under the theme of ...

Oman Oil Price Rises 3.83 CentsMuscat, 29 Nov (ONA) --- Oman oil price (January Delivery 2023) today reached 80.56 US Dollars, comprising a rise by 3.83 cents from the price of yesterday (Monday) which stood at 76.73 US Dollars.The average price of Oman oil (November Delivery 2022) has stabilized at 90.80 US Dollars per barrel, thus 6.20 US Dollars per barrel lower than October Delivery 2022. --- Ends/Thuraiya/Anas ...

HH Sayyid Bilarab Opens Al Teeb City in LiwaLiwa, 28 Nov (ONA) —— As part of celebrations marking the 52nd National Day, HH Sayyid Bilarab bin Haitham Al Said presided over the opening of Madinat Al Teeb Model City in the Wilayat of Liwa, North Al Batinah Governorate.The project also represents the approach of the Ministry of Housing and Urban Planning towards the construction of sustainable and sociable model cities in Oman.The naming of the city stems from the Royal directives of His Majesty the Sultan. Madinat Al Teeb (or city of fragrance) consists of 1,300 single and double ...

Oman Participates in Global Summit of WTTC Riyadh, 28 Nov (ONA) --- The Sultanate of Oman, represented by the Ministry of Heritage and Tourism, is taking part in the 22ndround of Global Summit of World Travel and Tourism Council (WTTC). The three-day event, which began in Riyadh today, is deemed the extravaganza that influences travel and tourism most. Oman was represented in the event by Salim Mohammed Al Mahrouqi, Minister of Heritage and Tourism. The summit sees a large turnout of travel and tourism experts, both from the public and private sectors, as well as investors, ...