News

Heads of GCC Capital Market Authorities Hold MeetingMuscat, 14 Mar (ONA) --- The committee of Heads of GCC Capital Market Authorities today held its 26th meeting under the chairmanship of Abdullah Salim Al Salmi, CEO of the Capital Market Authority (CMA), Chairman of the committee’s current session. The committee discussed a spectrum of topics, namely a report on the performance and developments of GCC capital markets in 2022, among other topics. --- Ends/AG ...

Seven Projects Inked to Design Layouts, Future Cities in Oman Muscat, 14 Mar (ONA) --- The Ministry of Housing and Urban Planning today signed 7 agreements to assign the designing of layouts and future cities distributed over various governorates of the Sultanate of Oman. These agreements come in implementation of urban regional strategies and to pursue balanced urban development in all governorates. The agreements were signed on behalf of the Ministry by Eng. Ibrahim Hammoud Al Waeli, Director of the Urban Strategy Office with officials of companies in the field of urban ...

Abraaj Energy Services Shares Listed on MSX Muscat, 14 Mar (ONA) --- Muscat Stock Exchange (MSX) celebrated today the listing and start of trading the shares of Abraaj Energy Services company. Abraaj Energy Services is considered the first company to undergo an initial public offering (IPO) within the framework of the exit plan led by Oman Investment Authority (OIA). The listing ceremony was attended by Abdulsalam Mohammed Al Murshidi, Chairman of OIA, Mohammed Mahfoud Al Ardhi, Chairman of MSX Board of Directors, and several stakeholders and businesspeople in the ...

Be’ah Inks MoU with Oman Cement Company, Agreement With Sohar UniversityMuscat, 14 Mar (ONA) --- Oman Environmental Service Holding Company “be’ah” and Oman Cement Company today signed a memorandum of understanding (MoU) to use Refuse-Derived Fuel (RDF) as an alternative fuel in cement manufacturing.Signing the MoU comes within the framework of Oman Sustainability Week, which is held at Oman Convention and Exhibition Centre (OCEC) from 12 to 16 March 2023. The MoU was signed by Eng. Tariq Ali Al Amri, CEO of be'ah, and Eng. Salem Abdullah Al Hajri, CEO of Oman Cement ...

Tender Results of Government Treasury Bills Worth RO 12.10 Million Issued This WeekMuscat, 14 Mar (ONA) --- The total issuance of Government Treasury Bills amounted to RO 12.10 million. The value of the allotted Treasury bills amounted to RO 10.40 million, for a maturity period of 28 days. The average accepted price reached RO 99.652 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 4.53743% and 4.55328%, respectively.Whereas, the value of the allotted Treasury bills amounted to RO 1.70 million, ...

Oman Oil Price Drops 3.28 US Dollars Muscat, 14 Mar (ONA) --- Oman oil price (May Delivery) today reached 79.18 US Dollars, comprising a drop by 3.28 US Dollars from the price of yesterday (Monday), which was 82.46 US Dollars. The average price of Oman oil (March Delivery) has stabilized at 80.92 US Dollars per barrel, thus 3.49 US Dollars per barrel higher than February Delivery. --- Ends/AG ...

OIA Begins Exit Process from Oman Cement Company Muscat, 13 Mar (ONA) --- Oman Investment Authority (OIA) began the exit process from Oman Cement Company, in which the authority owns a majority share, to a strategic foreign investor “Huaxin Cement Company Ltd”. Ibrahim Said Al Eisri, Director of Private Equity at OIA said that OIA’s exit from Oman Cement Company comes within the framework of the authority’s plan to achieve several goals, namely attracting foreign investments to the Sultanate of Oman. --- Ends/AG ...

MSX Gains 31 PointsMuscat, 13 Mar (ONA) --- Muscat Stock Exchange (MSX) general index (30) today gained (31.7) points, comprising a rise by (0.65%) to close at (4894.01) points, compared to the last session, which stood at (4862.32) points.The trading value today stood at (RO 4,540,751), comprising an increase by (8.5%), compared to the last session, which stood at (RO 4,186,716).The report released by MSX pointed out that the market value went up by (0.095%) to reach about (RO 23.99) billion.The report added that the value of shares bought by non-Omani investors reached ...

Activities of Oman Sustainability Week Kick off Muscat, 13 Mar (ONA) --- Activities of Oman Sustainability Week 2023 kicked off today at Oman Convention and Exhibition Centre (OCEC). The event, which is expected to attract 7,000 participants and over 100 speakers, aims to increase awareness on issues related to sustainability and related concepts. Many experts in the fields of energy, the environment and water resources are taking part in the event. Oman Sustainability Week highlights the importance of sustainable practices, preserving natural resources and achieving sustainability ...

State Budget Achieves RO 145 Million Surplus Muscat, 13 Mar (ONA) --- The State Budget achieved a surplus of RO 145 million at the of January 2023, compared to a surplus of RO 18 million registered over the same period in 2022, according to the Fiscal Performance Monthly Bulletin published by the Ministry of Finance. Public revenue at the end of January 2023 surged by 22% to reach RO 982 compared to RO 804 million registered over the same period in 2022. This is mainly due to an increase in oil and gas revenues, representing 88% of total public revenue. Net oil revenue ...

Oman Oil Price Rises 2.17 US Dollars Muscat, 13 Mar (ONA) --- Oman oil price (May Delivery) today reached 82.46 US Dollars, comprising a rise by 2.17 US Dollars from the price of last (Friday), which was 80.29 US Dollars. The average price of Oman oil (March Delivery) has stabilized at 80.92 US Dollars per barrel, thus 3.49 US Dollars per barrel higher than February Delivery. --- Ends/AG ...

MSX Gains 12 Points Muscat, 12 Mar (ONA) --- Muscat Stock Exchange (MSX) general index (30) today gained (12.8) points, comprising a rise by (0.26%) to close at (4862.32) points, compared to the last session, which stood at (4849.54) points. The trading value today stood at (RO 4,186,716), comprising a surge by (49.9%), compared to the last session, which stood at (RO 2,793,733). The report released by MSX pointed out that the market value went up by (0.031%) to reach about (RO 23.97) billion. The report added that the value of shares bought by non-Omani investors reached ...

Real Estate Development Conference, Oman Design and Build Week 2023 Kick off Muscat, 12 Mar (ONA) --- Activities of the Real Estate Development Conference and Oman Design and Build Week 2023 kicked off today at Oman Convention and Exhibition Centre (OCEC) under the patronage of HH Sayyid Asa'ad bin Tarik Al Said, Deputy Prime Minister for International Relations and Cooperation Affairs, Personal Representative of His Majesty the Sultan.In a press statement, HH Sayyid Asa’ad underscored the Sultanate of Oman's investment-enhancing elements, notably in the real estate sector. He ...

Production of Electricity, Water by December 2022 Increases Muscat, 12 Mar (ONA) --- The Sultanate of Oman’s total production of electricity increased by 8.1 percent till the end of December 2022 to reach 41,747.4 GW per hour compared to 38,630.4 GW during the corresponding period in 2021, according to the latest data issued by the National Centre for Statistics and Information (NCSI). The Governorate of Dhofar recorded a rise in electricity production by 10.2 percent, to reach 4,236.7 GW per hour till the end of December 2022. The governorates of North Al Batinah, South Al ...

PASI Meeting Reviews Administrative, Investment Projects Muscat, 9 Mar (ONA) --- The Board of Directors of the Public Authority for Social Insurance (PASI) held its first meeting for 2023 under the chairmanship of Dr. Mahad Said BaOwain, Minister of Labour, Chairman of the board. The meeting reviewed the performance of the public authority and outcomes of implementing some administrative and investment projects. The board also discussed various topics submitted by the executive management of PASI. --- Ends/AG ...

ASMED Launches Initiative to Support, Follow up E-Funded ProjectsMuscat, March 9 (ONA) --- The Authority for Small and Medium Enterprises Development (ASMED) has launched an initiative to support and follow-up e-funded projects.The aim was to identify and predict challenges and difficulties posed to such projects before they might occur, in the shortest possible period of time.The meeting also studied ways to provide direct support to financing institutions to help secure the sustainability and growth of the projects.Once the initiative takes shape, ASMED will exercise direct ...

MSX Declines 5 PointsMuscat, 9 Mar (ONA) --- Muscat Stock Exchange (MSX) general index (30) today lost (5.1) points, comprising a drop by (0.11%) to close at (4849.54) points, compared to the last session, which stood at (4854.67) points.The trading value today stood at (RO 2,793,733), comprising a decline by (68.3%), compared to the last session, which stood at (RO 8,819,945).The report released by MSX pointed out that the market value went up by (0.703%) to reach about (RO 23.96) billion.The report added that the value of shares bought by non-Omani investors reached (RO 818,000), ...

Oman Oil Price Drops 23 Cents Muscat, 9 Mar (ONA) --- Oman oil price (May Delivery) today reached 81.81 US Dollars, comprising a drop by 23 cents from the price of yesterday (Wednesday), which was 82.04 US Dollars. The average price of Oman oil (March Delivery) has stabilized at 80.92 US Dollars per barrel, thus 3.49 US Dollars per barrel higher than February Delivery. --- Ends/AG ...

Heritage Minister Meets UAE Economy Minister, Bahrain Tourism Minister Berlin, 8 Mar (ONA) --- Salim Mohammed Al Mahrouqi, Minister of Heritage and Tourism conferred with Abdullah Touq Al Marri, Minister of Economy of the United Arab Emirates (UAE) at the International Tourism Exchange, ITB Berlin 2023 today. During the meeting, the two sides discussed means of boosting the bilateral economic relations, especially in tourism fields. Moreover, Al Mahrouqi met with Fatima Al Sairafi, Minister of Tourism of the Kingdom of Bahrain. In this meeting, the two sides reviewed ...

Oman Cybersecurity Conference Focuses on Infrastructure SectorMuscat, 8 Mar (ONA) --- The 3rd session of Oman Cybersecurity Conference 2023, organized by Al Roya newspaper today, reviewed plans to enhance readiness and means of responding to cyberattacks in the sector of national infrastructure institutions.The conference studied ways of developing and fine-tuning national capabilities in the field of electronic security.The conference discussed key elements on the governance of electronic security in the sector of infrastructure, as well as the governance of professions related to ...

Finance Ministry Organizes Introductory Meet on Streamlining Budget’s Fiscal PerformanceMuscat, 8 Mar (ONA) --- The Ministry of Finance today organized an introductory meeting on streamlining the fiscal performance of the State's 2023 general budget.The meeting was chaired by Abdullah Salim Al Harthy, Undersecretary of the Ministry of Finance, and attended by representatives of government units.The meeting elucidates the procedures of the Financial Performance Control Initiative designed to ensure that all government units and departments adhere to their approved budgets in a manner ...

Arab Forum for Consumer Protection Highlights Status quo of Small Consumer  Muscat, 8 Mar (ONA)—Tasks of the Arab Forum for Consumer Protection kicked off at Oman Convention and Exhibition Centre today. The forum, titled “Small Consumer and Sustainable Consumption”, is Organized by the Consumer Protection Authority within the context of the Arab Consumer Protection Week. The event highlights the status quo of 'the small consumer' and is informed by local and international experiences in developing services rendered to this segment of consumers. The opening ...

MSX Gains 11 PointsMuscat, 8 Mar (ONA) --- Muscat Stock Exchange (MSX) general index (30) today added (11.3) points, comprising a rise by (0.23%) to close at (4854.67) points, compared to the last session, which stood at (4843.38) points.The trading value today stood at (RO 8,819,945), comprising a surge by (499.7%), compared to the last session, which stood at (RO 1,470,679).The report released by MSX pointed out that the market value went up by (0.114%) to reach about (RO 23.80) billion.The report added that the value of shares bought by non-Omani investors reached (RO 974,000), ...

Oman Oil Price Drops 2.62 US DollarsMuscat, 8 Mar (ONA) --- Oman oil price (May Delivery) today reached 82.04 US Dollars, comprising a drop by 2.62 US Dollars from the price of yesterday (Tuesday), which was 84.66 US Dollars.The average price of Oman oil (March Delivery) has stabilized at 80.92 US Dollars per barrel, thus 3.49 US Dollars per barrel higher than February Delivery. --- Ends/Thuraiya/AG ...

Oman Takes Part in ITB Berlin 2023 Berlin, 7 Mar (ONA) ---- The Sultanate of Oman is currently taking part in the International Tourism Exchange, ITB Berlin 2023, which kicked off today in Berlin, Germany. As many as 40 tourism and hotel establishments are participating in the pavilion of the Sultanate of Oman, displaying the most important tourism components, services and facilities provided by Oman. The delegation of the Sultanate of Oman in the activities of this fair at Berlin, is headed by Salim Mohammad Al Mahrouqi, Minister of Heritage and Tourism, who will ...

Hotel Revenues Exceed RO 20 Million in Oman by the End of January 2023 Muscat, 7 Mar (ONA) --- The revenues of 3-5 star hotel surged by 50.8% as at the end of January 2023 compared to the corresponding period in 2022 to stand at RO 20.79 million, according to the latest data issued by the National Centre for Statistics and Information (NCSI). Occupancy rate also recorded a rise by 31.3% to reach 53.7% compared to 40.9% during the corresponding period in 2022. The number of 3-5 star hotels’ guests stood at 173,313, comprising an increase by 65% till the end of January 2023 ...

MSX Gains 10 PointsMuscat, 7 Mar (ONA) --- Muscat Stock Exchange (MSX) general index (30) today added (10.2) points, comprising a rise by (0.21%) to close at (4843.38) points, compared to the last session, which stood at (4833.15) points.The trading value today stood at (RO 1,470,679), comprising a drop by (29.7%), compared to the last session, which stood at (RO 2,091,764).The report released by MSX pointed out that the market value went up by (0.045%) to reach about (RO 23.77) billion.The report added that the value of shares bought by non-Omani investors reached (RO 985,000), ...

Oman Vision 2040 Implementation Follow-up Unit Meets WIPO Director General Muscat, 7 Mar (ONA) --- Dr. Khamis Saif Al Jabri, Chairman of Oman Vision 2040 Implementation Follow-up Unit met at his office today Daren Tang, Director General of the World Intellectual Property Organization (WIPO) and his accompanying delegation, currently visiting the Sultanate of Oman. The two sides explored means of cooperation. They also exchanged opinion on future visions as intellectual property rights are considered catalyst for economic growth, as well as an important component within ...

British Business Delegation Visits "Invest Oman" Lounge Muscat, 7 Mar (ONA)—A delegation of British investors representing a group of companies operating in the sectors of mining, technology, agriculture, services and logistics visited “Invest Oman” lounge today. They took note of various incentives offered to investors, investment mechanisms and related procedures. The delegation toured the sections of Invest Oman where they were briefed about the most important services provided to investors wishing to do business in Oman, the departments offering the services, ...

Tender Results of Government Treasury Bills Worth RO 12 Million Issued This weekMuscat, 7 Mar (ONA) --- The total issuance of Government Treasury Bills amounted RO 12 million. The value of the allotted Treasury bills amounted to RO 3 million, 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.Whereas, the value of the allotted Treasury bills amounted to RO 9 million, for a maturity ...