News

MSX Gains 5 Points Muscat, 2 Mar (ONA) --- Muscat Stock Exchange (MSX) general index (30) today gained (5.1) points, comprising a rise by (0.12%) to close at (4441.01) points, compared to the last session, which stood at (4435.86) points. The trading value today stood at (RO 3,983,961), comprising a decrease by (6.4%), compared to the last session, which stood at (RO 4,257,840). The report released by MSX pointed out that the market value went up by (0.053%) to reach about (RO 27.32) billion. The report added that the value of shares bought by non-Omani investors reached ...

Transport Ministry Survey Measures Digital Economy’s Contribution to GDPMuscat, 2 Mar (ONA) --- The Ministry of Transport, Communications and Information Technology is conducting a fieldwork survey to measure the contribution of the digital economy to the Gross Domestic Product (GDP) in 2023.The survey stems from efforts to meet the objectives of the National Digital Economy Programme.The project seeks to provide accurate data to enable decision makers and policy makers to draw out a future roadmap for digital economy in the Sultanate of Oman.The survey monitors the progress made ...

Iraqi Delegation Explores Investment Opportunities in Duqm Duqm, 27 Feb (ONA) --- An Iraqi business delegation headed by Dr. Mohammed Al Najjar, CEO of Iraq Development Fund, today visited the Special Economic Zone at Duqm (SEZAD). The delegation viewed a number of projects in the zone. Eng. Ahmed Ali Akaak, CEO of SEZAD highlighted some investments in the zone, as well as the incentives offered to investors. He also shed light on available investment opportunities in various economic sectors. The CEO of SEZAD pointed out that the Special Economic Zone managed to ...

Dollar Rises as Investors Assess US Economy StrengthNew York, 27 Feb (ONA) —- The US dollar rose today to move further from recent 11-week lows, as investors assessed the strength of the economy and tariffs outlook after the most recent comments from US President Donald Trump. The dollar index, which measures the greenback against a basket of currencies, rose 0.21% to 106.46, with the euro down 0.26% at $1.0486. Against the Japanese yen, the dollar weakened 0.04% to 148.96 after falling to 148.56, its lowest since 11 October 2024. Sterling ...

Minor Decline in Gold Prices as US Dollar, Treasury Yields RiseSingapore, 27 Feb (ONA) —- Gold prices dropped in early trade today under pressure from the rise of the US dollar and Treasury yields, while investors await an important inflation report to assess the Federal Reserve's monetary policy path. Gold prices fell by 0.1% in spot transactions, reaching $2912.94 per ounce, while US gold futures declined by 0.1% to $2927.20. Meanwhile, the dollar index rose by 0.2%, moving away from its lowest levels in 11 weeks, and US 10-year Treasury yields recovered from ...

Oil Prices Rise from Two-month LowsSingapore, 27 Feb (ONA) —- Oil prices rose today from their lowest levels in two months, after US President Donald Trump announced a reversal of Chevron's license to operate in Venezuela, which could lead to a decrease in global supplies of crude. Brent crude futures rose 19 cents, or 0.3 percent, to $72.72 a barrel, while US West Texas Intermediate (WTI) crude futures rose 16 cents, or 0.2 percent, at $68.78 a barrel. Meanwhile, oil prices fell in yesterday's session to their lowest levels since 10 December 2024, affected by a ...

OQEP Announces its Achievement of EBITDA of RO 614Muscat, 26 Feb (ONA) --- OQ Exploration and Production (OQEP) has announced its financial results for the fiscal year 2024, achieving EBITDA of RO 614 million. The financial results highlight OQEP’s continued ability to generate strong and predictable cash flows from its high-quality asset base.The Company’s revenue reached RO 841 million (USD 2,188 million), generating EBITDA of RO 614 million (USD 1,596 million). Free cash flow stood at RO 251 million (USD 654 million).Ahmed Said Al Azkawi, Chief Executive Officer of OQEP, ...

Oman-Uzbek Business Forum Explores Means of Boosting InvestmentsMuscat, 26 Feb (ONA) —- Oman Chamber of Commerce and Industry (OCCI) today organized the Omani-Uzbek Business Forum in a bid to enhance trade exchange and investments, as well as exploring export and import opportunities between the two countries.The forum is held within the framework of the visit of the businesswomen delegation from the Republic of Uzbekistan. The delegation comprises representatives from the sectors of real estate, designing, electrical engineering, textiles, private education, medicine, exporting and ...

Commerce Ministry Launches “Oman Exports” Initiative Muscat, 26 Feb (ONA) --- The Ministry of Commerce, Industry and Investment Promotion today launched the “Oman Exports” initiative. The launching of the initiative was held on the sidelines of “Together we Progress” forum which is organized by the Secretariat General of the Council of Ministers. The move aims to offer a range of services for Omani exporters and to connect Omani companies with international markets. It also targets boosting the sector of non-oil exports in Oman. It is worth noting that ...

Oman Attracts Global Investments in Semiconductors, Electric Vehicles Muscat, 26 Feb (ONA) --- Qais Mohammed Al Yousef, Minister of Commerce, Industry and Investment Promotion, today conferred with representatives of Taiwanese tech giant EONH Private Holdings—a company specialized in semiconductors—and China's Jetour Global—a leading electric vehicle (EV) manufacturer—to discuss opportunities for localizing future industries and enhancing the Sultanate of Oman's position as an advanced industrial hub. The overall goal is to meet the objectives of Oman ...

MSX Gains 5 Points Muscat, 26 Feb (ONA) --- Muscat Stock Exchange (MSX) general index (30) today gained (5.3) points, comprising a rise by (0.12 %) to close at (4415.73) points, compared to the last session, which stood at (4410.40) points. The trading value today stood at (RO 4,292,972), comprising an increase by (23.8%), compared to the last session, which stood at (RO 3,468,843). The report released by MSX pointed out that the market value went up by (0.064%) to reach about (RO 27.17) billion. The report added that the value of shares bought by non-Omani investors reached ...

US Dollar Near 11-Week Low amid Soft Economic DataSingapore, 26 Feb (ONA) --- The US dollar today sagged near an 11-week low against its major peers, under pressure from sliding short-term Treasury yields after a run of weak economic data. The US dollar index, which measures the currency against six major rivals, slipped 0.1% to 106.17 early in the Asian day. The two-year US Treasury yield declined to 4.086% today, sinking back towards the low of 4.074% from the previous day, a level not seen since 1 November 2024. The US currency edged down from the ...

Oil Rises as US Inventories See Surprise DropSingapore, 26 Feb (ONA) --- Oil prices edged up today, bouncing off two-month lows hit in the prior session after an industry group reported US crude stockpiles fell last week. Brent crude rose 27 cents, or 0.4%, to $73.29 a barrel. US West Texas Intermediate crude oil futures were up 25 cents, or 0.4%, to $69.18. US crude stocks fell 640,000 barrels in the week ended 21 February 2025, market sources said, citing American Petroleum Institute data. Official US stockpile data is due later today.--- ...

Gold Rises amid Uncertainty over US TariffsSingapore, 26 Feb (ONA) --- Gold prices rebounded today after hitting a one-week low in the previous session, as growing uncertainties stemming from US President Donald Trump's tariff plans dampened risk appetite and boosted the safe-haven bullion's demand. Spot gold gained 0.1% to $2,918.01 an ounce, after falling more than 2% yesterday (Tuesday). US gold futures rose 0.5% to $2,932.50. Trump opened yet another front on Tuesday in his assault on global trade norms, ordering a probe into potential new tariffs on ...

China Opposes EU Listing Chinese Firms in Russia Sanctions PackageBeijing, 26 Feb (ONA) --- China warned that the European Union (EU) decision to include several Chinese firms and individuals in its 16th package of sanctions against Russia would have a negative impact on bilateral trade ties. The EU's move was contrary to the consensus reached between leaders of both sides, said a spokesperson with China's Ministry of Commerce, who urged the EU to stop listing Chinese companies and individuals and cease smearing and shifting blame to China. China always opposes ...

Oman Oil Price Drops 1.15 US Dollars Muscat, 26 Feb (ONA) --- Oman oil price (April delivery 2025) today reached 75.79 US Dollars, comprising a drop by 1.15 US Dollars, compared to the price of last “Tuesday” which was 76.94 US Dollars. The average price of Oman oil (February delivery 2025) has stabilized at 73.16 US Dollars per barrel, thus 70 cents per barrel higher than January delivery ...

Nama Water Services Unveils Strategic Projects in Water Sector Muscat, 25 Feb (ONA) --- Nama Water Services Company signed four agreements to implement strategic projects in the water sector. The projects included the design and implementation of water distribution networks in the wilayats of Ibri, Yanqul and Dhank in A'Dhahirah Governorate (Packages 1 and 2), the construction of water networks in the wilayats of Samail and Izki in A'Dakhiliyah Governorate and the construction of wastewater networks in Al Ansab in Muscat Governorate. This was unveiled at a ceremony organized by ...

Development Bank Portfolio Garners 509 Education LoansMuscat, 25 Feb (ONA) --- The number of education loans in the Development Bank's portfolio until the end of 2024 stood at 509 loans worth RO 18.8 million. The portfolio, aimed to serve all governorates of the Sultanate of Oman, reflects the bank's efforts to support private sector investments in educational fields.As many as 138 loans, worth RO 12.8 million, were approved for the education sector during the year 2024, according to statistics issued by the bank.Activities-wise, the general secondary education segment was accorded ...

Hadatha Cybersecurity Hackathon Begins Muscat, 25 Feb (ONA) --- Activities of the Hadatha Cybersecurity Hackathon kicked off today. The event is organized by the Ministry of Transport, Communications and Information Technology, represented by Oman National CERT in cooperation with the University of Technology and Applied Sciences in Muscat. As many as 49 innovators are taking part in the hackathon out of 165 applicants. The innovators represent 14 teams competing to come up with advanced technological solutions to tackle cyber challenges. Eng. Badr Ali Al Salhi, Director ...

Bank of Korea Cuts Key Interest Rate by 0.25 Percentage PointSeoul, 25 Feb (ONA) --- South Korea's central bank today slashed its benchmark interest rate by a quarter percentage point in an effort to shore up economic growth amid weak domestic demand and uncertainties at home and abroad. The monetary policy committee of the Bank of Korea (BOK) cut its key rate by 25 basis points to 2.75 percent during a rate-setting meeting in Seoul. The move came a month after its rate freeze decision, which was aimed at supporting the weak local currency while assessing the ...

Japan Stocks Close LowerTokyo, 25 Feb (ONA) --- Japanese stocks declined at the end of today's trading. Tokyo Stock Exchange reported that the Nikkei 225 index ended the session down by 1.39% or 539.15 points, closing at 38,237.79 points. The Tokyo Price Index (TOPIX) also closed lower, falling by 0.43%, or 11.83 points, to close at 2,724.70 points. The yield on Japan's 10-year government bonds dropped by 2.81%, equivalent to four basis points, reaching a yield of 1.382%.--- ...

China Conducts 300-Billion-Yuan Medium-term Lending Facility OperationBeijing, 25 Feb (ONA) --- China's central bank today conducted a 300-billion-yuan (about $41.83 billion) medium-term lending facility (MLF) operation to maintain ample liquidity in the country's banking system. The MLF operation features a one-year maturity period and an interest rate of 2%, unchanged from the rate of the previous operation conducted last month, according to a statement on the website of the People's Bank of China. After the latest operation, the outstanding MLF balance stood at ...

Dollar Rises on Renewed Tariff WorriesSingapore, 25 Feb (ONA) --- The US dollar today rose after falling to its lowest in more than two months at the start of the week, buoyed by safe-haven flows after US President Donald Trump said tariffs on Mexico and Canada would proceed as planned. The stronger dollar in turn left the euro off a one-month high at $1.0461. Sterling drifted from Monday's two-month high and last traded 0.06% lower at $1.2618 in the early Asian session, while the Aussie fell 0.17% to $0.6339. The New Zealand dollar eased 0.13% to ...

Oil Prices Gain on Supply ConcernsSingapore, 25 Feb (ONA) --- Oil prices today rose for a second day amid concerns supply might tighten. Brent crude futures rose 38 cents, or 0.51%, to $75.16 a barrel. US West Texas Intermediate crude futures gained 43 cents, or 0.61%, to $71.13 a barrel. Both contracts gained in yesterday's session after a $2 drop on Friday.--- ...

Gold Holds Steady Near All-Time HighSingapore, 25 Feb (ONA) --- Gold prices hovered near a record high today, supported by safe-haven demand. Spot gold was little changed at $2,950.39 an ounce, about $6 shy of the all-time high of $2,956.15 scaled in the previous session. US gold futures steadied at $2,965. Spot silver shed 0.3% to $32.45 an ounce, platinum was at $966, and palladium was 0.4% lower at $936.25.--- ...

MSX Drops 17 Points Muscat, 25 Feb (ONA) --- Muscat Stock Exchange (MSX) general index (30) today lost (17.8) points, comprising a decline by (0.40%) to close at (4410.40) points, compared to the last session, which stood at (4428.17) points. The trading value today stood at (RO 3,468,843), comprising a rise by (26.9%), compared to the last session, which stood at (RO 2,733,530). The report released by MSX pointed out that the market value went down by (0.441%) to reach about (RO 27.15) billion. The report added that the value of shares bought by non-Omani investors ...

Oman Oil Price Rises 35 CentsMuscat, 25 Feb (ONA) --- Oman oil price (April delivery 2025) today reached 76.94 US Dollars, comprising a rise by 35 cents compared to the price of yesterday “Monday” which was 76.59 US Dollars.The average price of Oman oil (February delivery 2025) has stabilized at 73.16 US Dollars per barrel, thus 70 cents per barrel higher than January delivery 2025. --- Ends/Thuraiya/AG ...

Investments in Service Sectors Stand at RO 2.83 Billion by End of 2024 Muscat, 24 Feb (ONA) --- The Authority for Public Services Regulation (APSR) has announced the implementation of 10 future projects and initiatives in the fields of energy, renewable energy, water and wastewater as part of supporting the Sultanate of Oman's efforts to achieve net zero carbon emissions and targets of Oman Vision 2040, in cooperation with government departments and licensed companies. This was unveiled at an annual media gathering organized by APSR today under the auspices of Eng. Salim bin ...

Muscat Stock Exchange and Palestine Exchange Ink MoCMuscat, 24 Feb (ONA) — Muscat Stock Exchange (MSX) and Palestine Exchange (PEX) signed a Memorandum of Cooperation (MoC) aimed at exchanging expertise, developing systems, enhancing market integration, facilitating broker access, and improving the investment environment in both countries.The move comes as part of efforts to strengthen mutual cooperation and develop financial markets.Both sides emphasized that this agreement marks a significant milestone in strengthening financial integration among Arab markets and aims to elevate the ...

Tender Results of Government Treasury Bills Worth RO 49 Million IssuedMuscat, 24 Feb (ONA) — The total issuance of Government Treasury Bills amounted to RO 49 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 99.700 for every RO 100, and the minimum accepted price arrived at RO 99.700 per RO 100. The average discount rate and the average yield reached 3.91071% and 3.92248%, respectively.Whereas, the value of the allotted Treasury bills amounted to RO 4 million, for a maturity period of 91 days. ...