News

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 ...

MSX Rises 28 Points Muscat, 3 Jan (ONA) --- Muscat Stock Exchange (MSX) general index (30) today gained (28.9) point, comprising a rise by (0.60%) to close at (4871.30) points, compared to the last session, which stood at (4842.39) points. The trading value today stood at (RO 3,566,253), comprising a surge by (163.2%), compared to the last session, which stood at (RO 1,355,147). The report released by MSX pointed out that the market value went down by (0.162%) to reach about (RO 23.77) billion. The report added that the value of shares bought by non-Omani investors ...

International Flights in Oman’s Airports Rise 137.6pc Muscat, 3 Jan (ONA) --- The total number of international and domestic flights at the airports of the Sultanate of Oman (Muscat, Salalah and Sohar) surged at the end of October 2022 by 137.6% to reach 51,017 flights compared to 21,466 flights during the corresponding period in 2021, according to the latest data issued by the National Centre for Statistics and Information (NCSI). The total number of inbound passengers through Oman’s airports increased considerably by 153%. Inbound, outbound and transit passengers in the ...

Tender Results Issue No. 169 of Government Treasury Bills Worth RO 10 Million Issued Muscat, 3 Jan (ONA) --- A tender of Government Treasury Bills, issue number 169, worth RO 10 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 ...

Oman Oil Price Rises 2.87 US Dollars Muscat, 3 Jan (ONA) --- Oman oil price (March Delivery 2023) today reached 82.26 US Dollars, comprising a rise by 2.87 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 ...

Oman’s Production of Crude Oil, Condensates Increases 10pc Muscat, 2 Jan (ONA) --- The Sultanate of Oman’s production of crude oil and condensates recorded a rise by 10% till the end of November 2022 to stand at 355,473,100 barrels compared to 323,174,600 barrels during the corresponding period in 2021, according to the latest data issued by the National Centre for Statistics and Information (NCSI). Separately, crude oil production increased by 13.5% to reach 283.534 million barrels, while the production of condensates dropped by 2% till the end of November ...

Third of World in Recession in 2023: IMF Washington, 2 Jan (ONA) --- A third of the global economy will be in recession in 2023, Kristalina Georgieva, head of the International Monetary Fund (IMF) has warned. Georgieva said 2023 will be "tougher" than 2022 as the US, EU and China see their economies slow. It comes as the war in Ukraine, rising prices, higher interest rates and the spread of Covid in China weigh on the global economy. In October 2022, the IMF cut its global economic growth outlook for 2023. The IMF is an international organisation with 190 member ...

MSX Declines 30 Points Muscat, 2 Jan (ONA) --- Muscat Stock Exchange (MSX) general index (30) today lost (30.3) point, comprising a drop by (0.62%) to close at (4842.39) points, compared to the last session, which stood at (4872.67) points.The trading value today stood at (RO 1,355,147), comprising a drop by (10.8%), compared to the last session, which stood at (RO 1,519,294).The report released by MSX pointed out that the market value went down by (0.226%) to reach about (RO 23.73) billion.The report added that the value of shares bought by non-Omani investors reached (RO 790,000), ...

Converting Industries, Future Industries Lab Kicks OffMuscat, 2 Jan (ONA) --- Tasks of the "Laboratory for Converting Industries and Future Industries" Kicked off here today. As many as 190 participants from different government departments shared expertise during the laboratory, implemented by the Ministry of Commerce, Industry and Investment Promotion in conjunction with Oman Vision 2040 Implementation Follow-up Unit and Industrial Innovation Academy. The opening ceremony was held under the auspices of Qais Mohammed Al Yousef, Minister of Commerce, Industry and Investment ...

OIA, Affiliates Achieve Success in Gas, Mining Fields Muscat, 2 Jan (ONA) --- Hamad Mohammed Al Nu’amani, CEO of Oman LNG said that Oman LNG will soon sign more binding term-sheet agreements with international companies, similar to the three contracts it recently inked with Japanese companies to deliver 2.35 mtpa of Omani liquefied natural gas annually. This was stated in an exclusive interview for the new issue of the quarterly newsletter Enjaz and Eejaz, which is issued by Oman Investment Authority (OIA). Al Nu’amani added that the company’s success and reputation ...

Substantive Risk-Assessment Reports on Money Laundering and Terrorism Financing Approved Muscat, 2 Jan (ONA) ---- In coordination with the National Counter-Terrorism Committee (NCTC), the National Committee for Combatting Money Laundering and Terrorism Financing approved a number of substantive risk-assessment reports on the crimes of money laundering, financing of terrorism and proliferation of weapons of mass destruction. The approved reports are a culmination of effective coordination between all relevant AML/ CFT entities and a clear realization of the national ...

Omantel Establishes E-Commerce Platform for Digital Transition in OmanMuscat, 1 Jan (ONA) --- Acting in cooperation with Amazon Web Services (AWS), Omantel is preparing to establish an electronic marketing platform under the name “Omantel Shopping Platform”, which will be a comprehensive online store for companies and individuals wishing to search for, buy and sell innovative goods, services and safely solutions. The project reflects Omantel's efforts to utilize its global capabilities and partnerships to enhance the contribution of the digital economy to the gross domestic ...

Fish Production in Oman Declines 22.4pc by October 2022Muscat, 1 Jan (ONA) --- The Sultanate of Oman’s fish production declined by 22.4% to stand at 556,151 tons till the end of October 2022 compared to 716,272 tons during the corresponding period in 2021, according to the latest data issued by the National Centre for Statistics and Information (NCSI).The total value of fish production grew by 2.2% of which worth stands at RO 339.592 million compared to the same period in 2021.Traditional fishing, which constitutes the largest share of Oman’s fish production, dropped by 24.8% to ...

State Budget Projects More Than RO 10bn Revenues in 2023 Muscat, 1 Jan (ONA) --- The Ministry of Finance has affirmed that the average price of oil barrel was calculated at $55 in the State Budget for fiscal year 2023. The estimate isin line with the principle of hedging in accordance with the state’s financial policy. The calculation takes into account potential fluctuation in global prices that might occur as a result of unstable geopolitical events. It also seeks to offset any uncertainty of future expectations about the performance of the global economy. Through the ...

MSX Gains 15 Points Muscat, 1 Jan (ONA) --- Muscat Stock Exchange (MSX) general index (30) today gained (15.2) point, comprising a rise by (0.31%) to close at (4872.67) points, compared to the last session, which stood at (4857.44) points. The trading value today stood at (RO 1,519,294), comprising a drop by (83.6%), compared to the last session, which stood at (RO 9,280,483). The report released by MSX pointed out that the market value went up by (0.199%) to reach about (RO 23.78) billion. The report added that the value of shares bought by non-Omani investors reached ...

Most Shares Register Losses Globally After Wall Street Decline New York, 29 Dec (ONA) --- Shares slipped in Europe and Asia today after benchmarks fell more than 1% on Wall Street in the middle of a mostly quiet and holiday-shortened week. U.S. futures were mixed and oil prices declined more than 1 US Dollar a barrel. Germany’s DAX lost 0.3% to 13,887.22 and the CAC 40 in Paris went down 0.5% to 6,480.47. Britain’s FTSE 100 dropped 0.6% to 7,452.45. The Kospi in Seoul fell 1.9% to 2,236.40, Australia’s S&P/ASX 200 gave up 0.9% to 7,020.10. Meanwhile, Bangkok’s SET ...

MSX Declines 14 Points Muscat, 29 Dec (ONA) --- Muscat Stock Exchange (MSX) general index (30) today lost (14.6) point, comprising a drop by (0.30%) to close at (4857.44) points, compared to the last session, which stood at (4872.06) points. The trading value today stood at (RO 9,280,483), comprising a surge by (118.8%), compared to the last session, which stood at (RO 4,240,988). The report released by MSX pointed out that the market value went down by (0.054%) to reach about (RO 23.74) billion. The report added that the value of shares bought by non-Omani investors ...

Finance Ministry Issues Decision Establishing Integrated Gas Company Muscat, 29 Dec (ONA) --- The Ministry of Finance today issued a decision establishing Integrated Gas Company (IGC) and endorsing its Articles of Association and financial bylaw in accordance with the provisions of Commercial Companies Law No. 18/2019 and its amendments, the Privatization Law promulgated under Royal Decree No. 51/2019, Royal Decree No. 80/1998 promulgating the Capital Market Law and its amendments, as well as the provisions of Memorandum of Association and the Company’s Articles of Association ...

CBO Introduces Wakala Money Market Liquidity Instrument Muscat, 29 Dec (ONA) --- The Central Bank of Oman (CBO) has introduced Wakala Money Market instrument as of 28 December 2022, to support an effective management of liquidity by Islamic banks and Islamic banking windows in the Sultanate of Oman. This product is part of several Islamic liquidity management instruments that the Central Bank of Oman has developed for Islamic banking entities in Oman, that shall be introduced in phases, both for absorbing excess liquidity and for providing liquidity support. Under Wakala ...

Oman Oil Price Drops 2.42 US DollarsMuscat, 29 Dec (ONA) --- Oman oil price (February Delivery 2023) today reached 78.01 US Dollars, comprising a drop by 2.42 US Dollars from the price of yesterday (Wednesday), which stood at 80.43 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 Delivery 2022. --- Ends/Anas ...

Direct Premiums Written Reached RO 431 Million Till September 2022 Muscat, 28 Dec (ONA) --- The insurance sector in the Sultanate of Oman recorded a 13% rise in the total direct premiums written to stand at RO 133 million during the third quarter of 2022 compared to RO 118 million during the corresponding period in 2021, according to the latest data issued by the Capital Market Authority (CMA). National companies grabbed the largest share of direct premiums written to stand at 83%, which constitutes RO 111 million compared to RO 99.4 million during the corresponding period ...