News

Oman-Pakistan Business Forum Discusses Joint Investment Opportunities Muscat, 13 Oct (ONA) --- The Omani-Pakistani Business Forum today discussed opportunities for joint cooperation between the two sides in various economic, health and entrepreneurship fields. During the forum, the Public Authority for Special Economic Zones and Free Zones (OPAZ) presented visual display in which it outlined investment opportunities and incentives offered to investors in those zones. The forum also touched on opportunities available in Pakistan. The participants engaged in a discussion panel ...

MSX Gains 14 PointsMuscat, 13 Oct (ONA) --- Muscat Stock Exchange (MSX) general index (30) today gained (14.6) points, comprising a rise by (0.31%) to close at (4765.60) points, compared to the last session, which stood at (4750.97) points.The trading value today stood at (RO 1,499,930), comprising a drop by (30.1%), compared to the last session, which stood at (RO 2,145,655).The report released by MSX pointed out that the market value went up by (0.115%) to reach about (RO 24.63) billion.The report added that the value of shares bought by non-Omani investors reached (RO 210,000), ...

Oman, Uzbekistan Ink MoU to Explore Business Opportunities in Logistics Sector Tashkent, 13 Oct (ONA) --- ASYAD Group today signed in Tashkent a memorandum of understanding (MoU) with the Ministry of Investment, Industry and Trade of the Republic of Uzbekistan. The memorandum deals with exploring promising business opportunities in the fields of logistics and supply chains between the two countries. The MoU was signed by Shiekh Nasser Sulaiman Al Harthy, Deputy President for Operations at Oman Investment Authority (OIA), Chairman of ASYAD Group’s Board of Directors and Laziz ...

Real Estate Deals Exceed RO 1.9 Billion Muscat, 13 Oct (ONA) --- The total traded value of properties in the Sultanate of Oman recorded a rise by 5.4% by the end of August 2024 to reach RO 1,933,200,000 compared to RO 1,834,800 over the corresponding period in 2023, according to the data released by the National Centre for Statistics and Information (NCSI). Fees collected for legal transactions amounted to RO 43.7 million till the end of August 2024, comprising an increase of 0.2% compared to the corresponding period of 2023. The traded value of sales contracts reached ...

Agreement Inked to Add Friendi Mobile Subscribers to Vodafone Oman Muscat, 10 Oct (ONA) - Vodafone Oman has signed a long-term agreement to add Friendi Mobile subscribers to its network with effect from December 2024. Under this agreement, Friendi Mobile will be able to provide a new level of experience to its subscribers in the Sultanate of Oman by benefiting from the existing advanced communication technologies and high speeds offered by Vodafone Oman network. Acting in cooperation with the Telecommunications Regulatory Authority (TRA), Vodafone Oman and Friendi Mobile will ...

Two MoUs Inked to Maintain Al Rawdah Falaj, Construct Investment Building in Saham Saham, 10 Oct (ONA) --- Two memorandums of understanding (MoUs) were signed today in the wilayat of Saham, North Al Batinah Governorate, for the maintenance of Al Rawdah Falaj and the construction of an investment building for Atta Saham Charity Team. The first MoU stipulates that Sohar Aluminium Company will fund the maintenance project of Falaj Al Rawdah in the Wilayat of Saham in North Al Batinah Governorate. This project is part of Sohar Aluminium’s social investment initiatives, which ...

OCCI Participates in Indonesian Trade Fair 2024 Jakarta, 10 Oct (ONA) --- Oman Chamber of Commerce and Industry (OCCI) today took part in the 39th Trade Expo Indonesia (TEI) in 2024, held in Jakarta. The exhibition constitutes an international platform that brings together many companies and investors from different countries of the world. It offers an opportunity to enhance trade relations and expand cooperation among participating countries. The Omani delegation was headed by Eng. Hamoud Salim Al Saadi, Second Deputy Chairman of OCCI Board of Directors. ...

Gold Prices Inch Higher with US Inflation Data in Focus Singapore, 10 Oct (ONA) --- Gold prices nudged higher today, while traders await key US inflation data to gauge the Federal Reserve's future monetary policy stance. Spot gold was up 0.2% at $2,613.70 per ounce, after easing for the previous six sessions. US gold futures gained 0.2% at $2,630.80. Spot silver edged 0.1% higher to $30.48 per ounce. Platinum added 1.5% to $959.56 and palladium firmed 1.0% to $1,049.50. --- Ends/AG ...

Dollar Holds Position of Near Two-Month High Tokyo, 10 Oct (ONA) --- The dollar index, which measures the currency against six key rivals, stuck close to an almost two-month top touched overnight, as traders further pared bets for US rate cuts this year after last week's unexpectedly strong payrolls data. The US dollar rose to a 10-week peak against the yen on Thursday as markets grew more confident about a patient approach by the Federal Reserve to further monetary easing, even as a key inflation report loomed later in the day. The dollar index was little changed at ...

MSX Gains 8 Points Muscat, 10 Oct (ONA) --- Muscat Stock Exchange (MSX) general index (30) today gained (8.02) points, comprising a rise by (0.17%) to close at (4750.97) points, compared to the last session, which stood at (4742.95) points. The trading value today stood at (RO 2,145,655), comprising a drop by (1.2%), compared to the last session, which stood at (RO 2,172,149). The report released by MSX pointed out that the market value went up by (0.068%) to reach about (RO 24.60) billion. The report added that the value of shares bought by non-Omani investors reached ...

Oman Oil Price Declines 36 Cents Muscat, 10 Oct (ONA) --- Oman oil price (December delivery 2024) today reached 77.14 US Dollars, comprising a decline by 36 cents compared to the price of yesterday “Wednesday” which stood at 77.50 US Dollars. The average price of Oman oil (October delivery 2024) stabilized at 77.54 US Dollars per barrel, thus 6.31 US Dollars per barrel lower than September delivery 2024. ---Ends/AG ...

Hafeet Rail Signs Bank Financing Agreements Worth RO 577 Million Abu Dhabi, 9 Oct (ONA) ---- Hafeet Rail has signed the bank financing of the Hafeet Rail network project connecting the Port of Sohar with the United Arab Emirates (UAE), with a total value of RO 577 million in project finance debt, secured by Omani and Emirati banks, in addition to regional and international banks. The signing ceremony was held under the patronage of Sheikh Theyab bin Mohamed bin Zayed Al Nahyan, Deputy Chairman of the Presidential Court for Development and Fallen Heroes’ Affairs, ...

OPAZ Board Holds 4th Meeting in 2024 Muscat, 9 Oct (ONA) --- The Board of Directors of the Public Authority for Special Economic Zones and Free Zones (OPAZ) today held its 4th meeting of the year (2024). The meeting was chaired by Dr. Ali Masoud Al Sunaidi, Chairman of the Public Authority for Special Economic Zones and Free Zones. The meeting discussed a number of topics related to economic zones, free zones and industrial cities supervised by OPAZ. The board agreed to grant incentives within the rental value of Al Mazunah Free Zone, renewed the existing incentive package in ...

State Public Revenue Exceed RO 8 Billion Muscat, 9 Oct (ONA) --- The State’s Public Revenue At the end of August 2024 amounted to RO 8,106 million, up by RO 183 million compared to RO 7,923 million registered over the same period in 2023. This is mainly due to an increase in net oil revenue, according to the Fiscal Performance bulletin issued by the Ministry of Finance. At the end of August 2024, the net oil revenue amounted to RO 4,649 million, up by 12% compared to RO 4,145 million registered over the same period in 2023. The average realized oil price amounted to USD 83 per ...

US Dollar Keeps Poise ahead of Fed MinutesSingapore, 9 Oct (ONA) —- The US dollar drifted sideways today, giving some relief to the Japanese yen and other major currencies after a sharp rally to a seven-week high last week, as investors paused to assess the interest rate outlook for the United States. The US dollar index, which measures the greenback against a basket of currencies, was flat at 102.490, not far from Friday’s seven-week high of 102.69. With the dollar settling, the euro steadied around $1.0977, while the pound was at $1.3101. Dollar/yen traded ...

Gold Prices Steady as Traders Await US Fed Minutes on Interest RatesSingapore, 9 Oct (ONA) —- Gold Prices held steady today as traders awaited cues on US interest rate policy from the minutes of the Federal Reserve's latest meeting. Spot gold held its ground at $2,622.24 per ounce, after falling more than 1% in the previous session. US gold futures edged 0.2% higher to $2,641.00. Minutes from the Fed's September policy meeting are set to be released. Traders will also scan the US Consumer Price Index (CPI) report tomorrow (Thursday) and the Producer Price Index ...

Oil Prices Rise amid Mideast TensionsSingapore, 9 Oct (ONA) —- Oil prices edged up today as developments in the Middle East took center stage against cautious demand expectations and ahead of a government meeting on China's fiscal policy. Brent crude futures rose 45 cents, or 0.6%, to $77.63 a barrel, while US West Texas Intermediate (WTI) futures rose 33 cents to $73.90 a barrel. Prices had fallen more than 4% in the previous session. The US Energy Information Administration (EIA) has cut its forecast for global oil demand growth in 2024 by 20,000 ...

MSX Gains 56 Points Muscat, 9 Oct (ONA) --- Muscat Stock Exchange (MSX) general index (30) today gained (56.2) points, comprising a rise by (1.2%) to close at (4742.95) points, compared to the last session, which stood at (4686.77) points. The trading value today stood at (RO 2,172,149), comprising a drop by (36.1%), compared to the last session, which stood at (RO 3,401,150). The report released by MSX pointed out that the market value went up by (0.444%) to reach about (RO 24.59) billion. The report added that the value of shares bought by non-Omani investors reached (RO ...

Oman LNG Signs a Sales, Purchase Agreement with Japanese Kansai Electric Power Tokyo, 9 Oct (ONA) --- Oman LNG today signed a Sales and Purchase Agreement (SPA) with the Japanese company Kansai Electric Power FTS PTE. Ltd. The agreement encapsulates the offtake of 0.4 Million Metric Tonnes Per Annum (MTPA) of LNG from Oman LNG for 4 years starting from 2026. The step aims to leverage the partnership between Oman LNG and Kansai Electric Power while expanding the reach to new buyers in Japan. The agreement was signed by Eng. Hamad Mohammed Al Nu’amani, CEO of Oman LNG and ...

Two Concession Agreements Inked for Development of Areas 11-A, 51-F Muscat, 9 Oct (ONA) --- The Ministry of Energy and Minerals today signed two concession agreements for the development of concession areas 11-A and 51-F, as part of its efforts to enhance the minerals industry. The agreements for Concession Area 11-A was signed by Eng. Salim Nasser Al Aufi, Minister of Energy and Minerals and Humaid Masoud Ali Al Maqbali, Chairman of the Board of Directors of Oman Chromite Company. Under the terms of the agreement, the company will be obligated to conduct a ...

Oman Oil Price Declines 1.46 US Dollars Muscat, 9 Oct (ONA) --- Oman oil price (December delivery 2024) today reached 77.50 US Dollars, comprising a decline by 1.46 US Dollars compared to the price of yesterday “Tuesday” which stood at 78.96 US Dollars. The average price of Oman oil (October delivery 2024) stabilized at 77.54 US Dollars per barrel, thus 6.31 US Dollars per barrel lower than September delivery 2024. ---Ends/AH ...

HH Sayyid Theyazin Inaugurates the St. Regis Al Mouj Muscat ResortMuscat, 8 Oct (ONA) --- HH Sayyid Theyazin bin Haitham Al Said, Minister of Culture, Sports and Youth inaugurated the St. Regis Al Mouj Muscat Resort today. Omar Hussain Alfardan, President and CEO of Alfardan Group said, “This project highlights the deep bilateral ties between the Sultanate of Oman and the State of Qatar. It contributes to strengthening our shared vision for achieving economic diversification and developing various industries, especially the hospitality sector. We are honored to unveil the St. Regis ...

Investment Forum Reviews Projects of “Governorate Development Competition” Muscat, 8 Oct (ONA) --- Activities of “Urban October Conference and Home & Building Expo” continued for the second day at Oman Convention and Exhibition Centre. Organized by the Ministry of Housing and Urban Planning, the event saw the holding of the “Investment Forum in Governorate Development Competition Projects”. The activities were held under the auspices of HH Sayyid Marwan Turki Al Said, Governor of Dhofar. The participants reviewed investment opportunities generated by ...

Transport Ministry Celebrates Conclusion of Training Programme on AI, Digital Skills Muscat, 8 Oct (ONA) --- The Ministry of Transport, Communications and Information Technology today celebrated the passing out of the last batch of trainees who attended a programme codenamed “Successful” (Najih). The ceremony took place at the premises of Oman Chamber of Commerce and Industry (OCCI) in Muscat. The programme benefited 24 trainees, of whom 14 were specialized in “Artificial Intelligence (AI) and Machine Learning”, while 10 trainees were in “Systems Engineering ...

MSX Gains 5 Points Muscat, 8 Oct (ONA) --- Muscat Stock Exchange (MSX) general index (30) today gained (5.8) points, comprising a rise by (0.12%) to close at (4686.77) points, compared to the last session, which stood at (4680.98) points. The trading value today stood at (RO 3,401,150), comprising a surge by (107.2%), compared to the last session, which stood at (RO 1,641,317). The report released by MSX pointed out that the market value went up by (0.046%) to reach about (RO 24.48) billion. The report added that the value of shares bought by non-Omani investors reached (RO ...

European Stocks Fall to Two-Week LowsBrussels, 8 Oct (ONA) --- European stocks dropped to two-weeks lows today, as lack of fresh details over China's stimulus measures sparked a selloff in sectors linked to the world's second-largest economy such as mining and luxury. The pan-European STOXX 600 index (.STOXX), opens new tab was down 1 percent, touching its lowest levels since 23 September 2024. Miners (.SXPP), opens new tab fell the most among European sectors, down 3.7 percent, as copper and iron ore prices dropped after initial optimism over top ...

Gold Eases as Dollar Firms; Focus on Fed Cues, US dataSingapore, 8 Oct (ONA) --- Gold prices edged lower today, pressured by a stronger dollar, while market participants awaited minutes of the Federal Reserve's last meeting and economic data for further cues on US interest rate path. Spot gold was down 0.2% to $2,639.45 per ounce. US gold futures lost 0.3% to $2,658.70. The US dollar index hovered near a seven-week high, making bullion more expensive for holders of other currencies, while the benchmark US Treasury 10-year yield topped 4% for the first time in more ...

US Dollar Clings to 7-Week HighSingapore, 8 Oct (ONA) --- The US dollar clung to seven-week highs against major currencies today as investors pondered the outlook for US rates. The US dollar index, which measures the US unit against major rivals, last fetched 102.41, just below the seven-week high of 102.69 it touched last Friday. China's offshore yuan strengthened a bit to 7.0594 per US dollar in early trading. The euro fetched $1.098175 in early trading. The pound was $1.3095 and rose slightly to $147.795 against the dollar in early trading.--- ...

Oil Prices Fall More Than $1 a BarrelSingapore, 8 Oct (ONA) --- Oil prices fell more than $1 a barrel today as traders took profits from a rally in the previous session that lifted the market to its highest level in over a month on fears the Middle East could be on the brink of a region-wide war. Brent crude futures fell $1.31, or 1.6%, to $79.62 per barrel. US West Texas Intermediate futures fell $1.29, or 1.7%, to $75.85 a barrel. The American Petroleum Institute is due to post its tally of US stockpiles later today, followed by the official tally from the ...

OQEP Accounts for About 11.6 pc of MSX Market Value, Set to Boost Stock’s Upgrade Muscat, 8 Oct (ONA) --- The public subscription to OQ Exploration and Production company’s (OQEP) shares for “Individuals” will close tomorrow, 9 October 2024. Estimated at 800 million, the “Individuals Category” stands for 40 percent of the overall volume of OQ shares offered for subscription (a total of 2 billion shares). The subscription period for the “Institutions Category” will close on Thursday 10 October 2024. Estimated at 800 million shares, this category accounts for 40 ...