News

MSX Drops 6 Points Muscat, 31 Oct (ONA) --- Muscat Stock Exchange (MSX) general index (30) today lost (6.9) points, comprising a drop by (0.15%) to close at (4749.34) points, compared to the last session, which stood at (4756.29) points. The trading value today stood at (RO 9,884,807), comprising a decline by (10.2%), compared to the last session, which stood at (RO 11,011,806). The report released by MSX pointed out that the market value went down by (0.177%) to reach about (RO 27.42) billion. The report added that the value of shares bought by non-Omani investors ...

Hadatha Center for Cybersecurity Industry Launched Muscat, 31 Oct (ONA) --- The Ministry of Transport, Communications and Information Technology, represented by Oman National Computer Emergency Readiness Team (OCERT), in cooperation with the University of Technology and Applied Sciences (UTAS) in Muscat, launched Hadatha Centre for Cybersecurity Industry. The center was launched as part of the activities of the Regional Cybersecurity Week. The center was launched in a ceremony held under the patronage of Halima Rashid Al Zari, Chairperson of the Authority for Small and Medium ...

Transport Minister Receives Secretary General of IMO Muscat, 31 Oct (ONA) --- Eng. Said Hamoud Al Maawali, Minister of Transport, Communications and Information Technology received in his office Arsenio Domínguez, Secretary General of the International Maritime Organization (IMO). During the meeting, the two sides reviewed areas of cooperation in the sectors of transport, logistics and maritime affairs. They also discussed several matters of mutual interest. The meeting was attended by Eng. Khamis Mohammed Al Shamakhi, Undersecretary of Transport and several officials from ...

Oman Oil Price Rises 13 Cents Muscat, 31 Oct (ONA) --- Oman oil price (December delivery 2024) today reached 71.65 US Dollars, comprising a rise by 13 cents compared to the price of yesterday “Wednesday” which stood at 71.52 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 ...

Bank of Japan Keeps Key Rate UnchangedTokyo, 31 Oct (ONA) —- The Bank of Japan today left its key interest rate unchanged as widely expected and maintained a cautious approach due to political instability and the looming US presidential election that added concerns about the economic outlook. In a unanimous vote, the policy board decided to maintain the uncollateralized overnight call rate at around 0.25%. This is the highest since late 2008. The Bank of Japan had ended its negative interest rate policy in March and last lifted the benchmark rate in July to the ...

Gold Hits New Record HighSingapore, 31 Oct (ONA) —- Gold prices climbed to a record high today and were headed for their best month in seven on safe-haven demand ahead of the US presidential election, while investors awaited US inflation report for clues on the interest rate path. Spot gold was steady at $2,786.89 per ounce, after hitting a record high of $2,790.15 earlier in the session. Prices have firmed 6% for the month so far. US gold futures dipped 0.1% to $2,797.80. Spot silver fell 0.3% to $33.68 per ounce, platinum was flat at $1,008.68, and ...

China's Manufacturing Activity Expands for First Time in Six MonthsBeijing, 31 Oct (ONA) —- China's manufacturing activity expanded for the first time in six months in October 2024, underpinned by strong domestic demand, official survey data revealed today. The official manufacturing Purchasing Managers' Index (PMI) rose to 50.1 in October 2024 from 49.8 in September, according to survey data from the National Bureau of Statistics. The score was expected to remain unchanged at 49.8. A reading above 50 indicates expansion, while a score below 50.0 signals ...

Oil Prices Rise on Optimism over Solid US Fuel DemandSingapore, 31 Oct (ONA) —- Oil prices rose today, extending the previous day's rally, driven by optimism over US fuel demand following an unexpected drop in crude and gasoline inventories, while reports that OPEC+ may delay a planned output increase offered support. Brent crude futures gained 35 cents, or 0.5%, to $72.90 a barrel. US West Texas Intermediate crude futures climbed 32 cents, or 0.5%. Both contracts rose more than 2% yesterday (Wednesday), after falling more than 6% earlier in the week on ...

Samsung Posts 77pc Profit Surge in Third Quarter 2024Seoul, 31 Oct (ONA) —- South Korean tech giant Samsung Electronics today posted a 77.8% increase in profit for the third quarter of 2024 compared to the previous year (2023). The company's operating profit surged by 277.4%, while quarterly sales rose by 17.4%. For the third quarter, Samsung's net income attributable to shareholders reached 9.78 trillion Korean won ($7.0 billion), up from 5.50 trillion won in the same period last year. Operating profit climbed to 9.18 trillion won, up from 2.43 trillion won the ...

OIA Completes Preparations to Host International Forum of Sovereign Wealth Funds Muscat, 30 Oct (ONA) --- Oman Investment Authority (OIA) has affirmed the Sultanate of Oman’s readiness to host the International Forum of Sovereign Wealth Funds (IFSWF) from 3 to 6 November 2024. The event will see the participation of heads and members of more than 50 sovereign funds from 46 countries around the world. Sheikh Nasser Suleiman Al Harthy, OIA Deputy Chairman for Operations, said that the event incarnates Oman’s efforts to open new vistas for economic integration with global ...

Otaxi Signs Partnership Agreement with ITCHA, Yango Groups Muscat, 30 Oct (ONA) --- Acting in cooperation with the Ministry of Transport, Communications and Information Technology, Otaxi has signed a partnership agreement with ITCHA Group and Yango Group to enhance the transport services in Oman. The agreement seeks to upgrade digital infrastructure and provide sustainable taxi services. ITCHA Group and Yango Group will make significant investments to develop Otaxi business ecosystem, opening up new vistas for growth in the local taxi business in the region. This ...

MSX Drops 10 Points Muscat, 30 Oct (ONA) --- Muscat Stock Exchange (MSX) general index (30) today lost (10) points, comprising a drop by (0.21%) to close at (4756.29) points, compared to the last session, which stood at (4766.28) points. The trading value today stood at (RO 11,011,806), comprising a decline by (53.5%), compared to the last session, which stood at (RO 23,667,228). The report released by MSX pointed out that the market value went down by (0.130%) to reach about (RO 27.47) billion. The report added that the value of shares bought by non-Omani investors ...

Oil Prices Steady as US Crude Inventories FallSingapore, 30 Oct (ONA) —- Oil prices stabilized today on industry data showing a surprise drop in US crude and gasoline inventories, following two previous sessions of losses on the prospect of hostilities easing in the Middle East. Brent crude futures gained 21 cents, or 0.3%, to $71.33 a barrel. US West Texas Intermediate crude futures rose 22 cents, or 0.3%, to $67.43 per barrel. Crude stocks dipped by 573,000 barrels in the week ended 25 October 2024, the sources said on condition of anonymity. Gasoline ...

Gold Hits All-time High on US Election ConcernsSingapore, 30 Oct (ONA) —- Gold hit an all-time peak today as investors flocked towards the safe-haven metal less than a week before the US presidential election, while they awaited economic data for clues on the Federal Reserve's rate stance. Spot gold was up 0.2% at $2,779.39 per ounce, after hitting an all-time high of $2,782.03 earlier in the session. US gold futures rose 0.4% to $2,791.70. Spot silver shed 0.3% to $34.33 per ounce. Palladium fell nearly 1% to $1,210.72 per ounce, while platinum ...

Dollar Steady ahead of US Jobs DataSingapore, 30 Oct (ONA) —- The US dollar hovered close to a three-month peak today in a big week for macroeconomic data that could reveal the path for US monetary policy. The US dollar index, which measures the currency against six major rivals including the yen and euro, was little changed at 104.28. The dollar-yen pair slipped 0.08% to 153.26. The euro was flat at $1.0815 ahead of gross domestic product readings across Europe later in the day. Sterling traded down 0.12% at $1.29995 ahead of the Labour government's ...

Oman Oil Price Rises 37 Cents Muscat, 30 Oct (ONA) --- Oman oil price (December delivery 2024) today reached 71.52 US Dollars, comprising a rise by 37 cents compared to the price of yesterday “Tuesday” which stood at 71.15 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 ...

National Program for Fiscal Sustainability to Hold Multilateral Meeting ThursdayMuscat, 29 Oct (ONA) —- As part of strengthening the strategic partnership between the National Program for Fiscal Sustainability and Financial Sector Development “Estidamah” and the U.S.-based State Street Corporation, a multilateral meeting will be held with international partners this Thursday, to discuss and explore investment opportunities across various sectors.This meeting is part of the Memorandum of Understanding between the two sides aimed at innovating and developing Oman’s financial sector and ...

Oman, Somalia Discuss Means of Enhancing Investment in Livestock sector Muscat, October 29 (ONA) --- Qais Mohammed Al Yousef, Minister of Minister of Commerce, Industry and Investment Promotion, today received in Muscat Hassan Hussein Mohamed, Minister of Livestock, Forestry and Range in the Federal Republic of Somalia, who is currently visiting the Sultanate of Oman. The meeting discussed means of upgrading cooperation between the two countries in the field of livestock and meats, as well as means of supporting joint investment and other sectors in a manner that secures ...

Oman, Algeria Sign 8 Memoranda of Understanding Muscat, 29 Oct (ONA) --- The Sultanate of Oman and the People's Democratic Republic of Algeria today signed 8 memoranda of understanding (MoUs) as part of the Algerian President’s state visit to Oman. The MoUs deal with cooperation in the fields of higher education, research, education, financial services, employment, training, the media, the environment, sustainable development, investment and the organization of exhibitions, events and conferences. The memoranda were signed on behalf of the Government of the Sultanate of ...

Economy Minister Receives Cambodian Official Muscat, 29 Oct (ONA) --- Dr. Said Mohammed Al Saqri, Minister of Economy today received in his office Dr. Osman Hassan, Senior Minister and In-Charge of Special Mission for Islamic Affairs of the Kingdom of Cambodia. Al Saqri underscored the depth of relations between the two countries. He also highlighted the availability of joint economic cooperation opportunities. On his turn, the Cambodian official expressed his country’s keenness to boost cooperation with Oman and to benefit from Oman’s experiences in various fields. ...

Oman Oil Price Declines 1.10 US DollarsMuscat, 29 Oct (ONA) --- Oman oil price (December delivery 2024) today reached 71.15 US Dollars, comprising a decline by 1.10 US Dollars compared to the price of yesterday “Monday” which stood at 72.25 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/Thuraiya/AG ...

Gold Hovers Near Record High ahead of Key Economic DataSingapore, 29 Oct (ONA) —- Gold prices lingered near record highs today, while investors awaited key economic data for clues on the US Federal Reserve's interest rate trajectory. Spot gold was up 0.5% at $2,755.42 per ounce. Prices hit a record high of $2,758.37 last Wednesday. US gold futures gained 0.4% to $2,768.10. Spot silver was up 1.2% at $34.0875 per ounce, palladium rose 1.4% to $1,047.05, and platinum added 0.8% to $1,228.00.—- ...

Oil Prices Edge Up on US Plan to Boost ReserveTokyo, 29 Oct (ONA) —- Oil prices edged up today, after a sharp plunge in the previous session, as a US plan to buy oil for the Strategic Petroleum Reserve (SPR) provided some support. Brent crude futures climbed 44 cents to $71.86 a barrel by, while US West Texas Intermediate crude was up 45 cents at $67.83 a barrel. Both contracts tumbled 6% yesterday (Monday) to their lowest since 1 October 2024. The United States said it was seeking up to 3 million barrels of oil for the SPR for delivery through May next ...

Oman, SESRIC Ink a Memorandum of Understanding Ankara, 28 Oct (ONA) --- The Ministry of Economy signed a memorandum of understanding (MoU) with the Statistical, Economic and Social Research and Training Centre for Islamic Countries (SESRIC) dealing with enhancing cooperation in economic, social and training fields. The MoU was signed by Dr. Nasser Rashid Al Maawali, Undersecretary of the Ministry of Economy and Zehra Zumrut Selcuk, Director General of SESRIC. Further, the signing ceremony was attended by Saif Rashid Al Jahwari, Ambassador of the Sultanate of Oman to the ...

Regional Cybersecurity Week Reviews Developments, Challenges Muscat, 28 Oct (ONA) --- More than 600 decision-makers, experts and specialists from 60 countries are taking part in the 12th edition of the Regional Cybersecurity Week which kicked off in Muscat today. The opening ceremony was held under the auspices of Sayyid Hamoud Faisal Al Busaidi, Minister of Interior. The event is organized by the Regional Cybersecurity Centre of the International Telecommunication Union (ITU). The Regional Cybersecurity Week is hosted by the Ministry of Transport, Communications ...

Tender Results of Government Treasury Bills Worth RO 1 Million Issued Muscat, 28 Oct (ONA) --- The total issuance of Government Treasury Bills amounted to RO 1 million. The value of the allotted Treasury bills stood at RO 0.5 million, for a maturity period of 28 days. The average accepted price reached RO 99.665 for every RO 100, and the minimum accepted price arrived at RO 99.665 per RO 100. The average discount rate and the average yield reached 4.36696% and 4.38164%, respectively. The value of the allotted treasury bills amounted to RO 0.5 million, for a ...

Gold Falls as Dollar Rises amid Fed SignalsSingapore, 28 Oct (ONA) --- Gold prices dropped today, pressured by a stronger US dollar, while investors awaited fresh signals regarding the Federal Reserve's monetary policy trajectory. Spot gold fell 0.5% to $2,732.90 per ounce. Prices hit a record high of $2,758.37 on Wednesday while ending nearly 1% higher last week. US gold futures declined 0.33% to $2,745.30. The dollar index gained 0.2%, making gold less appealing for other currency holders, while US bond yields also rose. Markets are pricing ...

Oil Prices Slump More Than 4pcSingapore, 28 Oct (ONA) --- Oil prices tumbled more than $3 a barrel today amid geopolitical tensions in the Middle East. Both Brent and US West Texas Intermediate crude futures hit their lowest levels since 1 October 2024 at the open. Brent was at $72.88 a barrel, down $3.17, or 4.2%, while WTI slipped $3.13, or 4.4%, to $68.65 a barrel. The benchmarks gained 4% last week in volatile trade amid rising geopolitical tensions.--- ...

Dollar Rises Supported by US Bond YieldsSingapore, 28 Oct (ONA) --- The dollar rose today, supported by a rise in US Treasury yields, while the yen fell to a three-month low. In the Asia session, the yen weakened as far as 153.88 per dollar and 166.06 per euro, on both counts the softest since late July. The yen was last down about 0.7% on the dollar at 153.35, with a 6.4% drop through October. At $1.0790, the euro rose 0.2% today, but was down more than 3% on the month. Sterling bought $1.2952 and has logged a 3.1% drop through October so far. ...

OQ Exploration and Production Shares Listed on MSXMuscat, 28 Oct (ONA) --- The Muscat Stock Exchange (MSX) celebrated today the listing of OQ Exploration and Production’s (OQEP) shares, marking the commencement of public trading following an Initial Public Offering (IPO) of 25% of the company’s share capital. With a market capitalization of more than RO 3 billion, OQEP has become the largest company listed on the MSX and the first exploration and production company to achieve this. This milestone reflects efforts to diversify the MSX offerings and include key players from ...