News

Volume of Investments in Special Economic Zone at Duqm Stands at RO 6 Billion Duqm, 6 Feb (ONA) --- The Special Economic Zone at Duqm (SEZAD) has managed to attract various projects in diverse economic sectors, in light of the zone’s many investment advantages such as its geographical location, the incentives offered by the Public Authority for Special Economic Zones and Free Zones (OPAZ) to investors, and high-level infrastructure. Eng. Ahmed Hassan Al Dheeb, OPAZ Deputy Chairman explained that there are many indicators that confirm the promising future of the zone and its ...

Real Estate Deals in Oman Exceed RO 2.6 Billion by End of 2023 Muscat, 6 Feb (ONA) --- The total value of real estate transactions in the Sultanate of Oman by the end of December 2023 increased by 6% to reach RO 2,607.1 million compared to the same period of 2022 when it stood at RO 2,459.3 million, according to the latest data issued by the National Centre for Statistics and Information (NCSI). The total collected real estate transaction fees reached RO 64.9 million, constituting a rise by 4.2% compared to the end of 2022. The value of sale contracts stood at RO 1,044.5 ...

Oman Oil Price Rises 59 CentsMuscat, 6 Feb (ONA) --- Oman oil price (April delivery 2024) today reached 77.99 US Dollars, comprising a rise by 59 cents compared to the price of yesterday (Monday) which stood at 77.40 US Dollars.The average price of Oman oil (February delivery 2024) has stabilized at 77.21 US Dollars per barrel, thus 5.96 US Dollars per barrel lower than January delivery 2023. ---Ends/Thuraiya/Anas ...

Workshop Discusses Scheme of Laws and Legislations in OmanMuscat, Feb 5 (ONA) ---- Acting in cooperation with Oman Vision 2040 Implementation Follow-up Unit, the National Program for Fiscal Sustainability and Financial Sector Development today organized a workshop to discuss means of promoting the scheme of laws and legislations in the Sultanate of Oman within the framework of joint efforts with the Oman-Britain Strategic Consultative Group. The workshop aimed to study the current situation of the legislative system in the Sultanate of Oman, and to discuss the possibility of ...

MSX Drops 11 PointsMuscat, 5 Feb (ONA) --- Muscat Stock Exchange (MSX) general index (30) today dropped (11.1) points, comprising a decrease by (0.24%) to close at (4548.84) points, compared to the last session, which stood at (4559.93) points.The trading value today stood at (RO 3,641,152), comprising a rise by (26.8%), compared to the last session, which stood at (RO 2,871,581).The report released by MSX pointed out that the market value went down by (0.061%) to reach about (RO 23.77) billion.The report added that the value of shares bought by non-Omani investors reached ...

Duqm Refinery Constitutes Largest Investment of its Kind between Two GCC Countries Muscat, 5 Feb (ONA) --- A number of ministers stressed that the Duqm Refinery is the largest investment of its kind between two Gulf countries represented by OQ - the global integrated energy group - and Kuwait Petroleum Corporation (KPC). The project is an ideal example of the convergence of economic interests. Abdulsalam Al Murshidi, Chairman of Oman Investment Authority (OIA), said that the Royal patronage of His Majesty Sultan Haitham bin Tarik and His Highness Sheikh Mishal Al Ahmad Al ...

Tender Results of Government Treasury Bills Worth RO 68 Million Issued   Muscat, Feb 5 (ONA) ---- The total issuance of Government Treasury Bills amounted to RO 68 million. The value of the allotted Treasury bills amounted to RO 17 million, for a maturity period of 28 days. The average accepted price reached RO 99.600 for every RO 100, and the minimum accepted price arrived at RO 99.600 per RO 100. The average discount rate and the average yield reached 5.21429% and 5.23523%, respectively.   The value of the allotted treasury bills amounted to RO 51 ...

Opening of Duqm Refinery Enhances Efforts to Attract Investment to Oman Muscat, 5 Feb (ONA) --- Qais Mohammed Al Yousef, Minister of Commerce, Industry and Investment Promotion, said that the Royal patronage of His Majesty Sultan Haitham bin Tarik and His Highness Sheikh Mishal Al Ahmad Al Jaber Al Sabah, Emir of the State of Kuwait, over the opening of the Duqm Refinery project reflects interest in investment in the Sultanate of Oman and the keenness to attracting investors to achieve the objectives of the Oman Vision 2040. The move aims to enhance economic diversification ...

Oman Takes Part in Saudi International Marine Exhibition Riyadh, 5 Feb (ONA) --- The Sultanate of Oman, represented by the Ministry of Agriculture, Fisheries and Water Resources is currently taking part in Saudi International Marine Exhibition (SIMEC 2024). The event aims to support aquaculture and fisheries techniques and seeks to highlight the importance of fisheries. Oman’s participating delegation is led by Eng. Yaqoub Khalfan Al Busaidi, Undersecretary of the Ministry of Agriculture, Fisheries and Water Resources for Fisheries. The exhibition seeks to discuss ...

Oman Oil Exports Reach 310.3 Million Barrels till December 2023 Muscat, 5 Feb (ONA) --- The Sultanate of Oman’s total exports of oil by the end of December 2023 stood at 310,331,200 barrels with an average oil barrel price of 82.3 US Dollars, according to the data issued by the National Centre for Statistics and Information (NCSI). Oil exports constituted 81% of the total oil production which stood at 382,770,200 barrels. In general, the total oil export decreased by 2.4% compared with December 2022 when the export stood at 317,977,900 barrels in parallel with a decline in ...

Oman Oil Price Drops 1.59 US DollarsMuscat, 5 Feb (ONA) --- Oman oil price (April delivery 2024) today reached 77.40 US Dollars, comprising a drop by 1.59 US Dollars compared to the price of last (Friday) which stood at 78.99 US Dollars.The average price of Oman oil (February delivery 2024) has stabilized at 77.21 US Dollars per barrel, thus 5.96 US Dollars per barrel lower than January delivery 2023. ---Ends/Thuraiya/Anas ...

Duqm Refinery.. A Leading Strategic Project in Petroleum Industries SectorDuqm, 4 Feb (ONA) —- Dr. Ali bin Masoud Al Sunaidi, Chairman of the Public Authority for Special Economic Zones and Free Zones (OPAZ) appreciated the Royal interest of His Majesty Sultan Haitham bin Tarik in the projects being implemented in the Special Economic Zone in Duqm (SEZAD).He said in a statement to Oman News Agency (ONA) that the visit of His Majesty the Sultan and His Highness the Emir of the State of Kuwait to the SEZAD is a source of honor and pride for all workers in the zone.He added, “The Duqm ...

OQ8 Spearheads Industrial Diversification with Multifaceted Projects Duqm, 4 Feb (ONA) --- OQ8, located in the Al Wusta Governorate, has been recognised as the largest investment project between the Sultanate of Oman and the State of Kuwait. This monumental project is a collaborative effort between OQ Group - a global integrated energy conglomerate - and Kuwait Petroleum International, marking it as one of the standout industrial ventures within the Special Economic Zone at Duqm (SEZAD) and a major stimulus for refinery-based projects. The refinery, with an investment cost ...

Ras Markaz Terminal Receives More Than 22 Crude Oil ShipmentsDuqm, 4 Feb (ONA) --- The oil storage terminal at Ras Markaz in the Wilayat of Duqm, managed by OmanTank Terminal Company (OTTCO), is a vital project that targets the storage of all types of crude oil in large quantities outside the Strait of Hormuz. This allows international companies to store their oil at the terminal for any period—short or long term.The terminal is distinguished by its strategic location in the vicinity of emerging markets—notably in Asia and Africa. This enables merchants and oil importers and ...

Oman-Kuwait Economic Relations Witness Remarkable Growth, Joint Cooperation Muscat, 4 Feb (ONA) --- Economic and trade relations between the Sultanate of Oman and the State of Kuwait are witnessing remarkable growth and joint cooperation in various fields, thanks to the efforts made by the leaderships of the two countries to activate the agreements and memorandums of understanding signed between them. The private sector in both countries seeks to take advantage of the investment opportunities available in lucrative sectors to expand and deepen areas of cooperation ...

MSX Drops 2 PointsMuscat, 4 Feb (ONA) --- Muscat Stock Exchange (MSX) general index (30) today dropped (2.99) points, comprising a decrease by (0.07%) to close at (4559.93) points, compared to the last session, which stood at (4562.92) points.The trading value today stood at (RO 2,871,581), comprising a drop by (5.2%), compared to the last session, which stood at (RO 3,871,581).The report released by MSX pointed out that the market value went down by (0.064%) to reach about (RO 23.79) billion.The report added that the value of shares bought by non-Omani investors reached ...

Vehicles Registered in Oman Increase by 4% Muscat, 4 Feb (ONA) --- The total number of vehicles registered in the Sultanate of Oman increased by 4% to stand at 1,667,393 by the end of December 2023 compared to 1,660,803 by the end of December 2022, according to the data issued by the National Centre for Statistics and Information (NCSI). Private registration vehicles constituted 79.6% of the total vehicles registered in Oman, to stand at 1,326,587. Vehicles with a capacity of 1500-3000 cc constituted 54% to stand at 902,244. Most vehicles come in the color ‘white’ ...

Duqm Port Is a Vital Corridor for Projects of Special Economic Zone in DuqmDuqm, 4 Feb (ONA) —- The Port of Duqm is one of the most important development projects in the Special Economic Zone in Duqm (SEZAD). It is distinguished by its strategic location on the international shipping route for maritime shipping lines, linking three continents (Asia, Africa, and Europe). It also enjoys a competitive advantage near large emerging markets in Africa, India, and the GCC countries.The Port of Duqm is operated and managed by the Port of Duqm Company, a 50-50 joint venture company between the ASYAD ...

Plans to Develop Duqm Airport in Line with Industrial Growth in Economic ZoneDuqm, 3 Feb (ONA) —- The Regional Airports Unit of “Oman Airports”, in cooperation with “Transom Handling”, and all parties and partners, managed to achieve a remarkable progress in promoting economic growth and sustainable development in the Special Special Economic Zone in Duqm (SEZAD).Since its opening 5 years ago, Duqm Airport has been an integral part of Oman Airports' strategy to enhance infrastructure and logistic services in the region. This was achieved in a close cooperation with the Oman Airports ...

SEZAD Develops 40pc of Duqm Zone MasterplanDuqm, 3 Feb (ONA) —- The administration of the Special Economic Zone in Duqm (SEZAD) said that work is underway to develop 40 percent of the masterplan for the SEZAD through the localization and establishment of many strategic projects, namely the Port of Duqm, the dry dock, the fishing port, the Duqm Refinery, and other basic projects such as roads, stations for electricity, water and gas and projects for clean energy and green hydrogen.SEZAD is one of the largest special economic zones in the Middle East and North Africa. It was established in ...

SEZAD Concludes 5,000-Tree-Planting ProjectDuqm, 1 Feb (ONA) --- In its drive to increase the green cover around its projects, the management of the Special Economic Zone in Duqm (SEZAD) is embarked on planting more trees in service streets and parks, utilizing modern irrigation systems and making the best use of treated water.Abdullah Al Alawi, a member of SEZAD Afforestation and Landscaping Department, told Oman News Agency (ONA) that SEZAD carried out 100 percent of its project to plant 5,000 trees by the end of 2023.The project included a total of 5,718 trees and featured the ...

Oman Oil Price Drops 1.39 US Dollars Muscat, 1 Feb (ONA) --- Oman oil price (April delivery 2024) today reached 80.17 US Dollars, comprising a drop by 1.39 US Dollars. The average price of Oman oil (February delivery 2024) has stabilized at 77.21 US Dollars per barrel, thus 5.96 US Dollars per barrel lower than January delivery 2023. ---Ends/Anas ...

EU, Japan Sign Protocol to Include Cross-Border Data Flows as Part of Economic PartnershipBrussels, 31 Jan (ONA) ---The European Union (EU) and Japan have signed a protocol, initiated by the Belgian Presidency of the Council, to incorporate provisions on cross-border data flows into the EU-Japan Economic Partnership Agreement.This move, aimed at bolstering data governance and facilitating the free flow of data, ensures legal certainty and prevents data localization measures between two of the world's major digital economies. ---Ends/Thuraiya/AG ...

Microsoft Touts AI Strength Despite Shares Dip Washington, 31 Jan (ONA) --- Microsoft exceeded market expectations for quarterly profit and revenue, driven by new artificial-intelligence features attracting customers to its Azure cloud service.Despite this, Microsoft's shares fell 1% in after-hours trading as investors reacted to rising costs for developing these AI features.The company projected operating expenses of $15.8 billion to $15.9 billion in the current quarter, up from $15.4 billion in the previous one, with a substantial increase in capital expenditures. Microsoft, in ...

Business Deals Worth RO 97 Million Awarded by Tender BoardMuscat, 31 Jan (ONA) --- The Tender Board today held its first meeting of the year (2024), headed by Dr. Mansoor Talib Al Hinai, Chairman of the Authority for Public Services Regulation (APSR), and Deputy Chairman of the Tender Board.During the meeting, tenders worth RO 97,258,156 were awarded for the execution of development projects’ additional works.The tenders included additional works of Al Sharqiya Expressway Project (Part Two, Second Phase) from Al Kamil W’al Wafi to Sur in the South Al Sharqiyah Governorate ( RO ...

MSX Drops 25 PointsMuscat, 31 Jan (ONA) --- Muscat Stock Exchange (MSX) general index (30) today dropped (25.2) points, comprising a decrease by (0.55%) to close at (4561.85) points, compared to the last session, which stood at (4587.09) points.The trading value today stood at (RO 4,294,038), comprising a drop by (80.3%), compared to the last session, which stood at (RO 21,762,870).The report released by MSX pointed out that the market value went down by (0.078%) to reach about (RO 23.79) billion.The report added that the value of shares bought by non-Omani investors reached ...

Digital Cooperation Organization Highlights Oman’s Role in Digital Economy Manama, 31 Jan (ONA) --- The General Assembly of the Digital Cooperation Organization (DCO) today reviewed the Sultanate of Oman’s efforts in the field of digital economy. This came during the DCO General Assembly’s 3rd meeting held today in Manama, the Kingdom of Bahrain. The Sultanate of Oman was represented during the meeting by the Ministry of Transport, Communications and Information Technology. The delegation was headed by Eng. Said Hamoud Al Maawali, Minister of Transport, ...

Oman Convention and Exhibition Center Obtains IFS Food Safety Quality Certification Muscat, 31 Jan (ONA) --- Oman Convention and Exhibition Center obtained the International Food Safety Standard Certification (ISO 22000:2018) following a year of continuous work to develop quality standards in the field of food safety. This international recognition came after a comprehensive and extensive external audit process by the global food safety auditing company. Eng. Said Salim Al Shanfari, CEO of Oman Convention and Exhibition Center, said: “The center’s obtaining this ...

Strategic Partnership Signed to Enhance Efficiency of Mining Sector Muscat, 31 Jan (ONA) --- Minerals Development Oman (MDO) signed a strategic partnership with Mawarid Mining company, to boost the company’s production of copper ore. Under the new partnership, Minerals Development Oman will assign the processing and concentration of copper ore produced in the northern concession areas to the copper ore concentration unit of Mawarid Mining located in the Wadi Al Jizzi area in the Wilayat of Sohar. The agreement was signed by Eng. Nasser Saif Al Maqbali, CEO of MDO, and ...

Oman Oil Price Rises 70 CentsMuscat, 31 Jan (ONA) --- Oman oil price (March delivery 2024) today reached 81.57 US Dollars, comprising a rise by 70 cents compared to the price of yesterday (Tuesday) which stood at 80.87 US Dollars.The average price of Oman oil (January delivery 2024) has stabilized at 83.17 US Dollars per barrel, thus 6.62 US Dollars per barrel lower than December delivery 2023. ---Ends/Thuraiya/Anas ...