News

Largest Container Handling Cranes Arrive at Salalah Port​Salalah, 30 Jan (ONA) --- The Port of Salalah is undergoing continuous development aimed at accommodating the largest-possible container vessels by utilizing advanced technologies and equipment that enable the port to speed up its operations and cut down the distances between world ports.Salalah Port occupies a strategic location on the way to global shipping lines, typically linking the East and the West.Keld M. Christensen, CEO of Salalah Port, said in comments that the port recently received four large Megamax container ...

MSX Drops 4 PointsMuscat, 30 Jan (ONA) --- Muscat Stock Exchange (MSX) general index (30) today dropped (4.8) points, comprising a decrease by (0.10%) to close at (4587.09) points, compared to the last session, which stood at (4591.89) points.The trading value today stood at (RO 21,762,870), comprising a rise by (670.70%), compared to the last session, which stood at (RO 2,823,782).The report released by MSX pointed out that the market value went down by (0.130%) to reach about (RO 23.81) billion.The report added that the value of shares bought by non-Omani investors reached ...

Oman and Etihad Rail Company Inks MoU for Transportation of Raw Materials Sohar, 30 Jan (ONA) --- Oman and Etihad Rail Company (OER), the developer and operator of the Oman-UAE Rail Network, and Al Jazeera Steel Products Co (AJSP), one of the leading steel structural products and tube manufacturers in the Middle East, signed a Memorandum of Understanding (MoU) to establish a strategic framework for collaboration on logistics solutions for the transportation of raw materials and finished goods in an efficient, cost-effective and sustainable manner. Under the terms of the ...

Oman Oil Price Drops 2.25 US DollarsMuscat, 30 Jan (ONA) --- Oman oil price (March delivery 2024) today reached 80.87 US Dollars, comprising a drop by 2.25 US Dollars compared to the price of yesterday (Monday) which stood at 83.12 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 ...

Tender Results of Government Treasury Bills Worth RO 71 Million Issued Muscat, 30 Jan (ONA) --- The total issuance of Government Treasury Bills amounted to RO 71 million. The value of the allotted Treasury bills amounted to RO 37 million, for a maturity period of 91 days. The average accepted price reached RO 98.660 for every RO 100, and the minimum accepted price arrived at RO 98.660 per RO 100. The average discount rate and the average yield reached 5.37473% and 5.44772%, respectively. Whereas, the value of the allotted Treasury bills amounted to RO 4 million, for ...

Development Bank Approves Loans Worth RO 14.4 Million Muscat, 29 Jan (ONA) --- The Board of Directors of the Development Bank today held its 1st meeting for 2024 under the chairmanship of Eng. Mohammed Abubakr Al Ghassani, Chairman of the Baord. During this meeting, the board approved development loans worth RO 14.4 million for projects in the fields of food security, education, converting industries and fisheries. Further, the board approved the closing accounts for the year 2023, in which a growth rate of 86% was achieved in terms of approval for loans (a total of RO ...

Sustainable Food Systems Could Yield $10 Trillion Annual BenefitsLondon, 29 Jan (ONA) --- A groundbreaking economic study reveals that a shift to a sustainable global food system could yield annual benefits of up to $10 trillion, addressing human health and climate concerns.The study exposes hidden environmental and medical costs in existing food systems, which contribute to a third of global greenhouse gas emissions, driving the planet towards a 2.7C temperature rise.If current practices persist, the study predicts 640 million people underweight and a 70% rise in obesity by ...

Construction of Bandar Al Khairan Resort Worth RO 36m Starts Muscat, 29 Jan (ONA) --- A ceremony was held here today to celebrate the start of construction works of Bandar Al Khairan Resort to the tune of RO 36 million and on an area of 189,000 sqm. The project was designed to be a qualitative addition to the tourism sector in Oman. The resort will include 121 hotel rooms, as well as various types of facilities, restaurants, spas and gyms. Salim Mohammed Al Mahrouqi, Minister of Heritage and Tourism, patron of the inauguration event, said that the project will support ...

MSX Drops 3 PointsMuscat, 29 Jan (ONA) --- Muscat Stock Exchange (MSX) general index (30) today dropped (4.03) points, comprising a decrease by (0.09%) to close at (4591.89) points, compared to the last session, which stood at (4595.93) points.The trading value today stood at (RO 2,823,782), comprising a rise by (15.9%), compared to the last session, which stood at (RO 2,434,852).The report released by MSX pointed out that the market value went up by (0.020%) to reach about (RO 23.84) billion.The report added that the value of shares bought by non-Omani investors reached ...

Refineries Production in Oman Increases by 1.2pc Muscat, 29 Jan (ONA) --- The Sultanate of Oman’s production of refineries and petrochemicals recorded an increase of 1.2% by the end of December 2023 compared to the corresponding period in 2022, according to preliminary statistics released by the National Center for Statistics and Information (NCSI). The production of regular gasoline (91) witnessed a 13.7% increase by the end of December 2023, resulting in a 11.2% rise in sales. Additionally, exports of liquefied petroleum gas, paraxylene, and benzene products increased ...

Estidamah Program Unveils Ambitious Plan for Financial Sector Development in Oman Muscat, 29 Jan (ONA) --- The National Program for Fiscal Sustainability Financial Sector Development, "Estidamah" today announced the financial sector development plan covering both the banking and capital market sectors. The plan consists of more than 74 initiatives with executable plans based on six core themes, supported by four enablers, in addition to 10 strategic program metrics. The plan aims to effectively allocate financial resources and enhance their role in achieving ...

Oman AI Summit 2024 Kicks off Muscat, 29 Jan (ONA) --- Oman Artificial Intelligence Summit 2024 kicked off today. The two-day event is organized by the Ministry of Transport, Communications and Information Technology. The opening ceremony was held under the auspices of HH Sayyid Dr. Kamil Fahd Al Said, Secretary General at the Secretariat General of the Council of Ministers. It is attended by over 200 specialists in the fields of AI and advanced technologies from all over the world, in addition to 40 speakers. Further, the summit aims to ease the procedures of investing ...

Oman Oil Price Drops 1.56 US Dollars Muscat, 29 Jan (ONA) --- Oman oil price (March delivery 2024) today reached 83.12 US Dollars, comprising a drop by 1.56 US Dollars compared to the price of last (Friday) which stood at 81.56 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 ...

Oman’s Total Domestic Liquidity up by RO 2.1 Billion Muscat, 28 Jan (ONA) --- Data released by the National Centre for Statistics and Information (NCSI) showed that domestic liquidity in the Sultanate of Oman grew by RO 2.1 billion to RO 22,374.4 million by the end of November 2023, posting an increase of 10.3 percent, compared to the corresponding period in 2022. NCSI data also indicated that total currency issued declined by 3.6 percent to RO 1,588.1 million by the end of November 2023, compared to RO 1,646.6 million during the corresponding period in 2022. Meanwhile, narrow ...

Oman Air's Strategy Revised to Focus on Demand, Passenger Convenience Muscat, 28 Jan (ONA) --- Oman Air has announced several strategic changes to its network, as part of its ongoing transformation, which aims to improve the company’s overall financial performance and enhance its position in an increasingly competitive market. The objectives include the addition of a new route, Sialkot, as well as the cancellation of operations to Islamabad, Lahore, Colombo and Chittagong. The airline will also cut down frequencies to certain markets, while at the same time ...

MSX Drops 11 Points Muscat, 28 Jan (ONA) --- Muscat Stock Exchange (MSX) general index (30) today dropped (11.5) points, comprising a decrease by (0.25%) to close at (4595.93) points, compared to the last session, which stood at (4607.42) points. The trading value today stood at (RO 2,434,852), comprising a decline by (46.9%), compared to the last session, which stood at (RO 4,585,898). The report released by MSX pointed out that the market value went down by (0.013%) to reach about (RO 23.83) billion. The report added that the value of shares bought by non-Omani investors ...

Nama Water Services Awards Over RO 40 Million Worth Projects to SMEsMuscat, 27 Jan (ONA) —— Nama Water Services has always prioritized SMEs by designing tailored programmes. The Local Value-Added Programme is one of these programs through which Nama Water Services aims to promote and create job opportunities, develop skills, reduce reliance on imports, and develop SMEs.The program is meant to award tenders and purchase orders and the allocation of the work to SMEs as subcontractors by major contractors. In addition to this programme, Nama Water Services is working on a training program ...

Technical Committee of National Digital Economy Programme Holds First Meeting of 2024 Muscat, 25 Jan (ONA) --- The Technical Committee of the National Programme for the Digital Economy today held its first meeting of the year (2024). The meeting was chaired by Dr. Ali Amer Al Shidhani, Undersecretary of the Ministry of Transport, Communications and Information Technology for Communications and Information Technology, and representatives of government departments concerned. The committee studied the new version of the National Programme for Artificial Intelligence and Advanced ...

MSX Index RisesMuscat, 25 Jan (ONA) --- Muscat Stock Exchange (MSX) general index (30) today added (0.7) point, comprising a rise by (0.02%) to close at (4607.42) points, compared to the last session, which stood at (4606.69) points.The trading value today stood at (RO 4,585,898), comprising a rise by (21.8)%), compared to the last session, which stood at (RO 3,763,666).The report released by MSX pointed out that the market value went up by (0.001%) to reach about (RO 23.84) billion.The report added that the value of shares bought by non-Omani investors reached (RO 1,321,000), comprising ...

Oman Oil Price Rises 75 CentsMuscat, 25 Jan (ONA) --- Oman oil price (March delivery 2024) today reached 80.35 US Dollars, comprising a rise by 75 cents compared to the price of yesterday (Wednesday) which stood at 79.60 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/AH ...

5,000 Omanis Benefit from National Initiative for Digital Competencies Muscat, 24 Jan (ONA) --- The Ministry of Transport, Communications and Information Technology said that, in 2023, it conducted 85 training programmes as part of the National Initiative for Digital Competencies (Makeen) aimed to empower Omani youth with modern digital skills. This was unveiled during the annual Makeen forum organized today by the Ministry under the auspices of Dr. Madiha Ahmed Al Shaibani, Minister of Education. As many as 5,000 beneficiaries took advantage of the programme, who ...

Mwasalat Inks Transportation Agreement with Sharjah Roads, Transport Authority Sharjah, 24 Jan (ONA) --- Mwasalat company, a subsidiary of ASYAD Group, signed an agreement with the Sharjah Roads and Transport Authority (SRTA) of the United Arab Emirates (UAE) to operate daily bus trips between the Governorate of Muscat and the Emirate of Sharjah (To and fro). The new service aims at expanding the international network of bus transportation between Oman and the UAE, as well as boost tourism between the two countries and provide travel options for people. Moreover, the ...

MSX Drops 18 Points Muscat, 24 Jan (ONA) --- Muscat Stock Exchange (MSX) general index (30) today dropped (18.4) points, comprising a decrease by (0.40%) to close at (4606.69) points, compared to the last session, which stood at (4625.08) points. The trading value today stood at (RO 3,763,666), comprising a decline by (15.5%), compared to the last session, which stood at (RO 4,456,372). The report released by MSX pointed out that the market value went down by (0.615%) to reach about (RO 23.84) billion. The report added that the value of shares bought by non-Omani ...

Oman-Yemen Investment Forum Kicks off in Salalah Salalah, 24 Jan (ONA) --- The Oman-Yemen Investment Forum kicked off today at Sultan Qaboos Youth Complex for Culture and Entertainment in Salalah. The event highlights means of boosting trade and economic relations between the Sultanate of Oman and the Republic of Yemen, as well as available investment opportunities for Yemeni businesspeople. It also highlighted the matter of facilitating investment for Yemeni companies in Oman. Moreover, the opening of the forum was held under the auspices of HH Sayyid Marwan Turki Al ...

Environment Authority Organizes Symposium on Circular Economy, Recycling Plastic Waste Muscat, 24 Jan (ONA) --- The Environment Authority (EA) organized a symposium on circular economy, themed “Recycling of Plastic Waste”. The event aimed at contributing to the protection of nature and the planet, and preventing any possible damages that can be caused by such waste which is not utilized. Dr. Mohammed Saif Al Kalbani, Director General of Environmental Affairs at EA said that operations of recycling plastic waste are considered investment opportunities which are suitable ...

Oman Oil Price Drops 28 Cents Muscat, 24 Jan (ONA) --- Oman oil price (March delivery 2024) today reached 79.60 US Dollars, comprising a drop by 28 cents compared to the price of yesterday (Tuesday) which stood at 79.88 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/Anas ...

Oman’s Economic Recovery Continues: IMF AffirmsMuscat, 23 Jan (ONA) —— The Sultanate of Oman has welcomed the International Monetary Fund 2023 Article IV Consultation Report, approved by IMF Executive Board today.The report was issued following a series of consultations between IMF experts and over 20 government and private entities as part of the annual periodic consultations under Article IV of the Articles of Agreement of the IMF.At the level ofdomestic economy performance,the report indicates that the Sultanate of Oman’s economic recovery continues, supported by favorable oil ...

Transport Ministry Celebrates Launch of Shinas Port Operational ActivitiesShinas, 23 Jan (ONA) --- A ceremony was held today to mark the official launch of operational activities of Shinas Port. The launch was in pursuance of a framework agreement signed in August 2023 by the Ministry of Transport, Communications and Information Technology and QSS Maritime Company. The ceremony was held under the auspices of Mohammed Sulaiman Al Kindi, Governor of North Al Batinah.Eng. Khamis Mohammed Al Shammakhi, Undersecretary of the Ministry of Transport, Communications and Information Technology ...

Inflation Rate in Oman Reaches 0.62% by End of December 2023 Muscat, 23 Jan (ONA) --- The annual inflation rate in the Sultanate of Oman reached 0.62% by the end of December 2023 according to data issued by the National Centre for Statistics and Information (NCSI). The inflation rate was driven by the increase in most main groups comprising the Consumer Price Index (CPI), including the food and non-alcoholic beverages group (2.91%). The food and non-alcoholic beverages main group’s rise was driven by the increases in the prices of fish and sea food (7.62%), milk, cheese ...

Oman-KSA Meeting Explores Investment Opportunities in North A'Sharqiyah Ibra, 23 Jan (ONA) --- A meeting was held in Ibra today by Omani and Saudi entrepreneurs who discussed opportunities of economic and commercial investment in the Governorate of North A'Sharqiyah.The gathering was part of the schedule of the current visit of a delegation from Saudi Arabia that comprises government officials and businessmen. It was attended by more than 100 entrepreneurs and owners of small and medium enterprises (SMEs) from the two countries.The participants discussed successful projects in North ...