News

MSX Gains 17 Points Muscat, 23 Jan (ONA) --- Muscat Stock Exchange (MSX) general index (30) today gained (17.6) points, comprising a rise by (0.38%) to close at (4625.08) points, compared to the last session, which stood at (4607.48) points. The trading value today stood at (RO 4,456,372), comprising a decline by (7.6%), compared to the last session, which stood at (RO 4,824,083). The report released by MSX pointed out that the market value went up by (0.083%) to reach about (RO 23.98) billion. The report added that the value of shares bought by non-Omani investors reached ...

Arab Finance Ministers Call for Review of Procedures to Maintain Sustainability Abu Dhabi, 23 Jan (ONA) --- The Sultanate of Oman, represented by the Ministry of Finance, today took part in the Arab Finance Ministers’ 9th annual meeting held in Abu Dhabi, United Arab Emirates. Organized by the Arab Monetary Fund, the meeting dealt with risks posed to finance policy amid regional and international developments. In this context, the ministers referred to setbacks to economic growth, a rise in the cost of funding, the emergence of green economy, transition towards clean and ...

Oman Oil Price Rises 2.18 US Dollars Muscat, 23 Jan (ONA) --- Oman oil price (March delivery 2024) today reached 79.88 US Dollars, comprising a rise by 2.18 US Dollars compared to the price of yesterday (Monday) which stood at 77.70 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 ...

Tender Results of Government Treasury Bills worth RO 94.6 Million was issued this week Muscat, 22 Jan (ONA) --- The total issuance of Government Treasury Bills amounted to RO 94.6 million. The value of the allotted Treasury bills amounted to RO 47 million, for a maturity period of 28 days. The average accepted price reached RO 99.592 for every RO 100, and the minimum accepted price arrived at RO 99.590 per RO 100. The average discount rate and the average yield reached 5.31691% and 5.33868%, respectively. Whereas, the value of the allotted Treasury bills amounted to RO 47.6 ...

Oman Water Week Discusses Efficiency of Water Sector in Sustainable Development Muscat, 22 Jan (ONA) --- As many as 500 participants, among them 60 speakers and representatives of 30 local and international companies, are taking part in Oman Water Week, which kicked off today at Oman Convention and Exhibition Centre. Oman Water Week seeks to set an agenda for addressing water challenges in the Sultanate of Oman, build local competencies and transfer knowledge and expertise. The event also explores the latest technologies and innovations in the water sector with the prime ...

MSX Gains 2 Points Muscat, 22 Jan (ONA) --- Muscat Stock Exchange (MSX) general index (30) today gained (2.9) points, comprising a rise by (0.06%) to close at (4607.48) points, compared to the last session, which stood at (4604.54) points. The trading value today stood at (RO 4,824,083), comprising an increase by (44.9%), compared to the last session, which stood at (RO 3,328,870). The report released by MSX pointed out that the market value went up by (0.110%) to reach about (RO 23.96) billion. The report added that the value of shares bought by non-Omani investors ...

Satellite Aman-1 Relays Space Images of OmanMuscat, 22 Jan (ONA) --- In its first space mission, Satellite Aman-1, owned by ETCO Space company, relayed images of the Sultanate of Oman captured from low altitude on the earth’s orbit. The mission focuses on ground observation and remote sensing.The first image shows the Port of Sohar and parts of Sohar freezone, while the second image monitors a large section of Al Hajar Al Gharbi mountain range along the Wilayat of Ibri. ETCO Space, an Oman-owned company, said in a statement that the image signals the consummation of operations ...

Oman Oil Price Drops 1.09 US Dollars Muscat, 22 Jan (ONA) --- Oman oil price (March delivery 2024) today reached 77.70 US Dollars, comprising a drop by 1.09 US Dollars compared to the price of last (Friday) which stood at 78.79 US Dollars. The average price of Oman oil (January delivery 2023) has stabilized at 83.17 US Dollars per barrel, thus 6.62 US Dollars per barrel lower than December delivery 2023. ---Ends/Anas ...

MSX Gains 17 Points Muscat, 21 Jan (ONA) --- Muscat Stock Exchange (MSX) general index (30) today gained (17.5) points, comprising a rise by (0.38%) to close at (4604.54) points, compared to the last session, which stood at (4587.06) points. The trading value today stood at (RO 3,328,870), comprising a drop by (10.2%), compared to the last session, which stood at (RO 3,708,594). The report released by MSX pointed out that the market value went up by (0.046%) to reach about (RO 23.94) billion. The report added that the value of shares bought by non-Omani investors reached ...

Muscat, 21 Jan (ONA) ---- Oman Chamber of Commerce and Industry (OCCI) today organized the Omani-Saudi Business Forum. The forum discussed means of enhancing the joint cooperation between the Sultanate of Oman and the Kingdom of Saudi Arabia (KSA) in the economic and investment areas. It also explores ways to activate the agreements and strategic partnerships between the Omani and Saudi companies. On the sidelines of the forum, a number of memorandums of understanding related to cooperation in the field of construction and legal consultations were signed between private sector ...

OQ Operates Investments Worth RO 800 Million in MusandamKhasab, 20 Jan (ONA) ——OQ, the global integrated energy group, is making significant strides in Musandam Governorate with three major energy sector projects valued at approximately RO 800 million.These projects include the Musandam Gas Plant, the management of offshore fields in Concession Area 8 and the Musandam Power Plant.The Musandam Gas Processing Plant, located in Concession Area 8 and owned by OQ, plays a pivotal role in the region's energy infrastructure. Utilising gas for power generation, it supports the energy needs of ...

Asyad Launches its Container Terminal in DuqmDuqm, 20 Jan (ONA) —— Asyad Group kicked off operations at Asyad Container Terminal – Duqm that will be managed and operated by the group’s ports and terminals arm, Asyad Ports.The latest addition to Asyad’s asset lineup follows the Omani logistics giant’s robust expansion plans that aim to offer more integrated logistics solutions, anticipate and proactively respond to new trends in global trade and handling, and meet the requirements of the world’s biggest players in the container business.Asyad Container Terminal is also set to ...

MSX Drops 2 Points Muscat, 18 Jan (ONA) --- Muscat Stock Exchange (MSX) general index (30) today lost (2.5) points, comprising a drop by (0.06%) to close at (4587.06) points, compared to the last session, which stood at (4589.61) points. The trading value today stood at (RO 3,708,594), comprising a rise by (12.9%), compared to the last session, which stood at (RO 3,284,798). The report released by MSX pointed out that the market value went up by (0.005%) to reach about (RO 23.93) billion. The report added that the value of shares bought by non-Omani investors reached ...

Oman Oil Price Rises 75 Cents Muscat, 17 Jan (ONA) --- Oman oil price (March delivery 2024) today reached 77.65 US Dollars, comprising a rise by 75 cents compared to the price of yesterday (Wednesday) which stood at 76.90 US Dollars. The average price of Oman oil (January delivery 2023) has stabilized at 83.17 US Dollars per barrel, thus 6.62 US Dollars per barrel lower than December delivery 2023. ---Ends/Anas ...

Oman to Host International Occupational Health Summit 2024 in FebruaryMuscat, 18 Jan (ONA) --- The Sultanate of Oman will host the first edition of the International Occupational Health Summit (iOHS 2024), due to be held at the Oman Convention and Exhibition Centre from 4 to 7 February 2024.Themed “Towards Sustainable Health Excellence at the Workplace”, the summit is organized by Oman Energy Association (OPAL) in cooperation with the Ministry of Energy and Minerals, government departments and private sector companies.Abdulrahman Humaid Al Yahya’ee, CEO of OPAL, said that the ...

Future Fund Oman Launched Muscat, 17 Jan (ONA) ---- In line with the Royal directives to translate the objectives and mandates of Oman Investment Authority (OIA) and further drive its efforts to develop the national economy and attract foreign investments, OIA today officially launched Future Fund Oman to start serving a wide range of investment categories. Future Fund Oman has a capital of RO 2 billion that will be utilized over a five-year period, with RO 400 million every year. The Fund will allocate 90% of its capital to directly invest in new or existing investment projects ...

MSX Drops 10 PointsMuscat, 17 Jan (ONA) --- Muscat Stock Exchange (MSX) general index (30) today lost (10) points, comprising a drop by (0.22%) to close at (4589.61) points, compared to the last session, which stood at (4599.62) points.The trading value today stood at (RO 3,284,798), comprising a fall by (44.2%), compared to the last session, which stood at (RO 5,891,675).The report released by MSX pointed out that the market value went up by (0.021%) to reach about (RO 23.93) billion.The report added that the value of shares bought by non-Omani investors reached (RO 189,000), ...

Al Ghubra Temporary Water Station Starts Commercial Operation Muscat, 17 Jan (ONA) --- Nama Water Services announced the commercial launch of the Al Ghubra temporary station. The newly launched station can process up to 20,000 cubic meters per day. The project aims to guarantee the continuity of water supply to citizens and resident subscribers. Eng. Abdullah Mohammed Al Naimi, Chief Operation & Maintenance Officer at Nama Water Services, said: “The launch of the Al Ghubra temporary station is intended to support the existing station, cover the current increasing ...

PDO Inaugurates Greater Saqr Gathering Station Muscat, 17 Jan (ONA) --- Petroleum Development Oman (PDO) celebrated today the official inauguration of the Greater Saqr Gathering Station at the Wilayat of Shalim and Halaniyyat Islands. The project is expected to have a capacity of 30,000 barrels per day of oil equivalent. The inauguration ceremony was held under the auspices of Sultan Salim Al Habsi, Minister of Finance. The project showcases the Company’s contribution to Oman Vision 2040 and represents PDO's strategy in action, to deliver sustainable growth of its core oil ...

Oman Oil Price Drops 1.02 US DollarsMuscat, 17 Jan (ONA) --- Oman oil price (March delivery 2024) today reached 76.90 US Dollars, comprising a drop by 1.02 US Dollars compared to the price of yesterday (Tuesday) which stood at 77.92 US Dollars.The average price of Oman oil (January delivery 2023) has stabilized at 83.17 US Dollars per barrel, thus 6.62 US Dollars per barrel lower than December delivery 2023. ---Ends/Thuraiya/AG ...

Investors Expect India’s Rupee to Rise Mumbai, 15 Jan (ONA) --- Volumes in the dollar-rupee options market have surged in the first few trading days of 2024, and the direction of these trades shows market participants expect the rupee to rise.Investors are expecting that India's rupee will rally this year, and are expressing that view via currency options.The rupee, on Monday, climbed to 82.7800 to the U.S. dollar, its highest in more than four months. It has gained 0.4% so far in January, while other major Asian currencies have fallen 1% to ...

MSX Drops 13 PointsMuscat, 16 Jan (ONA) --- Muscat Stock Exchange (MSX) general index (30) today lost (13) points, comprising a drop by (0.28%) to close at (4599.62) points, compared to the last session, which stood at (4612.66) points.The trading value today stood at (RO 5,891,675), comprising a rise by (236.2%), compared to the last session, which stood at (RO 1,752,670).The report released by MSX pointed out that the market value went down by (0.024%) to reach about (RO 23.92) billion.The report added that the value of shares bought by non-Omani investors reached (RO 42,000), ...

Oman Oil Price Drops 15 CentsMuscat, 16 Jan (ONA) --- Oman oil price (March delivery 2024) today reached 77.92 US Dollars, comprising a drop by 15 cents compared to the price of yesterday (Monday) which stood at 78.07 US Dollars.The average price of Oman oil (January delivery 2023) has stabilized at 83.17 US Dollars per barrel, thus 6.62 US Dollars per barrel lower than December delivery 2023. ---Ends/Thuraiya/Anas ...

Germany's Economy Shrinks 0.3% in 2023London, 15 Jan (ONA) --- Germany's economy contracted by 0.3% in 2023, marking its first decline since the pandemic's onset, per data from Germany’s Federal Statistical Office.The decrease raises concerns about a broader economic downturn in the euro area. Factors include multiple crises, high inflation, rising interest rates, and weakened domestic and foreign demand.A World Economic Forum survey suggests over three-quarters of economists anticipate weak growth in Europe in 2024, with global economic weakening expected by over half of ...

National Local Content Policy Paves Roadmap for Developing SMEs, Providing Job Opportunities Muscat, 15 Jan (ONA) --- The Council of Ministers’ adoption of the National Local Content Policy (2024-2030) is considered a road map and a compass to provide more job opportunities for citizens, localizing industries, developing and adopting entrepreneurs, encouraging small and medium enterprises (SMEs), and reducing foreign purchases, in order to ensure an increase in the country's trade balance surpluses. Commenting on this, Eng. Badr Salimm Al Maamari, Secretary General of the ...

MSX Drops 16 PointsMuscat, 15 Jan (ONA) --- Muscat Stock Exchange (MSX) general index (30) today lost (16.8) points, comprising a drop by (0.36%) to close at (4612.66) points, compared to the last session, which stood at (4629.41) points.The trading value today stood at (RO 1,752,670), comprising a rise by (25.3%), compared to the last session, which stood at (RO 1,399,301).The report released by MSX pointed out that the market value went down by (0.132%) to reach about (RO 23.93) billion.The report added that the value of shares bought by non-Omani investors reached (RO 262,000), ...

Oman Imports Exceed RO 12.3 Billion by End of October 2023 Muscat, 15 Jan (ONA) --- Total imports of the Sultanate of Oman till the end of October 2023 stood at RO 12.3 billion, according to data released by the National Centre for Statistics and Information (NCSI). Imports of engine fuel (excluding jet fuel) reached RO 1.2 billion and imports of diesel for other uses stood at RO 581.1 million. Further, imports for various items stood as follows: petroleum oil and bituminous mineral oils (RO 450.8 million), iron ores and its non-agglomerated compounds (RO 342.3 million), ...

Tender Results of Government Treasury Bills Worth RO 19 Million Issued Muscat, 15 Jan (ONA) ---- The total issuance of Government Treasury Bills amounted RO 19 million. The value of the allotted Treasury bills amounted to RO 4 million, for a maturity period of 28 days. The average accepted price reached RO 99.590 for every RO 100, and the minimum accepted price arrived at RO 99.590 per RO 100. The average discount rate and the average yield reached 5.34464% and 5.36665%, respectively. The value of the allotted Treasury bills amounted to RO 15 million, for a ...

JW Marriott Muscat Inauguration Marks Completion of Madinat Al Irfan East Phase I Muscat, 15 Jan (ONA) ---- Oman Tourism Development Company (OMRAN Group) today celebrated the completion of Phase I of Madinat Al Irfan East through the official inauguration of JW Marriott Hotel Muscat. This event marks the introduction of the globally acclaimed JW Marriott brand to Oman, signifying a momentous stride in positioning Oman as a leading global tourism destination. The inauguration ceremony was held under the patronage of Salim Mohammed Al Mahrouqi, Minister of Heritage and ...

Wheat Production in Oman Surges by 229 pc During 2022-2023 Agricultural Season Muscat, 15 Jan (ONA) --- Wheat production in the Sultanate of Oman surged by 229 percent during Agricultural Season 2022/2023 to a total of 7,119 tons, compared to 2,169 tons during Agricultural Season 2021/2022. Statistics issued by the Ministry of Agriculture, Fisheries and Water Resources show wheat was grown on a total area of 6,359 acres of land during Agricultural Season 2022/2023, an increase of 160 percent over the previous season. The number of wheat farmers also grew by 24 percent, the ...