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Oman Oil Price Rises 1.67 US Dollars

Oman Oil Price Rises 1.67 US Dollars Muscat, 27 Feb (ONA) --- Oman oil price (April delivery 2024) today reached 82.07 US Dollars, comprising a rise by 1.67 US Dollars compared to the price of yesterday (Monday), which stood at 80.40 US Dollars. The average price of Oman oil (February delivery 2024) has stabilized at 77.21 US Dollars per barrel, thus 5.96 US Dollars per barrel lower than January delivery 2024. ---Ends/Thuraiya/AH ...

Import Price Index Declines 4.7 pc By End of Q3 in 2023

Import Price Index Declines 4.7 pc By End of Q3 in 2023 Muscat, 26 Feb (ONA) --- The general import price index (IPI) in the Sultanate of Oman went down by 4.7 percent at the end of the third quarter of 2023, compared to the corresponding period in 2022, due to a collective decline in most segments that make up the general index. The IPI decline was quoted as follows: 0.8 percent in group of machinery and transportation equipment, 5.4 percent in the group of manufactured goods, 3.1 percent in the group of food and livestock, 16.2 percent in the group of mineral fuels, mineral ...

MDO Marks Groundbreaking for Redevelopment Project at Lasil and Al Baydha Copper Mines in Sohar, Liwa

MDO Marks Groundbreaking for Redevelopment Project at Lasil and Al Baydha Copper Mines in Sohar, Liwa Sohar, 26 Feb (ONA) ---- Minerals Development Oman Company (MDO) celebrated today the groundbreaking ceremony for redeveloping the Lasil and Al Baydha copper mines in Block 4 of the Wilayats of Sohar and Liwa. The event was held under the auspices of Eng. Salim Nasser Al Oufi, Minister of Energy and Minerals. The redevelopment of the Lasil and Al Baydha mines is the MDO's first copper mine project; resulted from the intensive exploration programs carried out by MDO in ...

Tender Results of Government Treasury Bills Worth RO 75 Million Issued

Tender Results of Government Treasury Bills Worth RO 75 Million Issued Muscat, 26 Feb (ONA) --- The Central Bank of Oman (CBO) pointed out that the total issuance of Government Treasury Bills amounted to RO 75 million. The value of the allotted Treasury bills amounted to RO 30 million, for a maturity period of 28 days. The average accepted price reached RO 99.605 for every RO 100, and the minimum accepted price arrived at RO 99.605 per RO 100. The average discount rate and the average yield reached 5.14911% and 5.16953%, respectively. The value of the allotted Treasury ...

MSX Gains 15 Points

MSX Gains 15 Points Muscat, 26 Feb (ONA) --- Muscat Stock Exchange (MSX) general index (30) today gained (15.9) points, comprising a rise by (0.35%) to close at (4594.06) points, compared to the last session, which stood at (4578.14) points. The trading value today stood at (RO 3,201,190), comprising a rise by (3.8%), compared to the last session, which stood at (RO 3,083,317). The report released by MSX pointed out that the market value went up by (0.022%) to reach about (RO 23.62) billion. The report added that the value of shares bought by non-Omani investors reached (RO ...

Oman Hosts 3rd Edition of World Travel Week “Connections Luxury Middle East”

Oman Hosts 3rd Edition of World Travel Week “Connections Luxury Middle East” Muscat, 26 Feb (ONA) --- Activities of the 3rd edition of the World Travel Week Middle East, organized by the Ministry of Heritage and Tourism, kicked off today at the Al Bustan Palace Hotel. More than 180 companies from the Sultanate of Oman and abroad are taking part in the event, titled “Connections Luxury Middle East”. The conference aims to enhance partnership and communication between international luxury travel and tourism companies and their Omani counterparts. The partners include ...

Oman Oil Price Drops 1.68 US Dollars

Oman Oil Price Drops 1.68 US Dollars Muscat, 26 Feb (ONA) --- Oman oil price (April delivery 2024) today reached 80.40 US Dollars, comprising a drop by 1.68 US Dollars compared to the price of last (Friday), which stood at 82.08 US Dollars. The average price of Oman oil (February delivery 2024) has stabilized at 77.21 US Dollars per barrel, thus 5.96 US Dollars per barrel lower than January delivery 2024. ---Ends/Thuraiya/AH ...

Oman Makes Progress in Protecting Business Environment’s Competitiveness

Oman Makes Progress in Protecting Business Environment’s CompetitivenessMuscat, 25 Feb (ONA) --- The Sultanate of Oman advanced 0.53 points in the field of “protecting the competitiveness of the business environment” in 2023.This was unveiled in the annual assessment carried out by the UN Economic and Social Commission for Western Asia (ESCWA) on legislative frameworks for the business environment in the 22-state Arab world.The evaluation was based on specific indicators on identifying the strengths and weaknesses of legislations related to fair practices in the ...

CBO Announces Auction Results of 69th Government Development Bonds Issue

CBO Announces Auction Results of 69th Government Development Bonds Issue Muscat, 25 Feb (ONA) --- The Central Bank of Oman (CBO) announced the auction results of the 69th Government Development Bonds (GDB) issue worth RO 100,000,000. According to a press release issued by CBO’s Market Operations Department, the 69th GDB Issue, which received overwhelming response from investors, has received applications amounting to RO 231,719,200. The average yield was 4.94 percent at an equivalent price of RO 99.890, while the highest yield was 5.20 percent at an equivalent price of ...

Japan To Spend Extra US$660 Million in Quake Relief

Japan to Boost Quake Relief SpendingTokyo, 25 Feb (ONA) --- Japan will spend an additional USD 660 million rebuilding areas ravaged by a devastating earthquake in central Japan, taking the total amount of quake relief to USD 1.7 billion.The magnitude-7.5 earthquake and its aftershocks devastated parts of the Ishikawa region on the Sea of Japan coast, toppling buildings, ripping up roads and sparking a major fire.Further, as many as 241 people were confirmed to have been killed by the disaster, with more than 10,000 people taking refuge at shelters and hotels, and water still cut off ...

Workshop Held to Highlight Survey on Satisfaction with Government Services

Workshop Held to Highlight Survey on Satisfaction with Government ServicesMuscat, 25 Feb (ONA) --- The National Centre for Statistics and Information (NCSI) today organized an introductory workshop as part of ongoing preparations for implementing a public opinion survey (the 3rd of its kind) for measuring satisfaction with government services. The workshop saw the participation of 50 government departments tasked with providing services to citizens, including services offered by Governors' offices. The participants reviewed major outcomes of the second public opinion ...

MSX Gains 7 Points

MSX Gains 7 Points Muscat, 25 Feb (ONA) --- Muscat Stock Exchange (MSX) general index (30) today gained (7.2) points, comprising a rise by (0.16%) to close at (4578.14) points, compared to the last session, which stood at (4570.98) points. The trading value today stood at (RO 3,083,317), comprising a drop by (11.5%), compared to the last session, which stood at (RO 3,482,821). The report released by MSX pointed out that the market value went down by (0.552%) to reach about (RO 23.62) billion. The report added that the value of shares bought by non-Omani investors reached ...

National Competitiveness Committee Reviews Work Progress of Business Readiness Team

National Competitiveness Committee Reviews Work Progress of Business Readiness Team Muscat, 25 Feb (ONA) ---- The National Competitiveness Committee (NCC) today held its 1st meeting for 2024 under the chairmanship of Dr. Said Mohammed Al Saqri, Minister of Economy. The meeting reviewed NCC’s decisions for 2022 and 2023, and developments in the Future of Growth Report (formerly the Global Competitiveness Report), as the evaluation methodology and structure of the report were changed. The meeting also discussed the work progress of the Business Readiness and Economic ...

Madayn Inaugurates Phase One of Ibri Industrial City

Madayn Inaugurates Phase One of Ibri Industrial City Ibri, 25 Feb (ONA) --- The Public Establishment for Industrial Estates “Madayn” celebrated today the inauguration of Phase One of Ibri Industrial City. The inauguration ceremony was held under the auspices of Najeeb Ali Al Rawas, Governor of A’Dhahirah. Highlighting the significance of developing an industrial hub in A’Dhahirah Governorate, Al Rawas emphasised that this inauguration marks a strategic continuation of the Omani government’s goal to ensure balanced economic growth across the governorates. ...

Oman, Jordan Discuss Ways to Boost Investment, Trade Cooperation

Oman, Jordan Discuss Ways to Boost Investment, Trade CooperationAmman, 22 Feb (ONA) --- Qais Mohammed Al Yousef, Minister of Commerce, Industry and Investment Promotion today met with Kholoud Saqqaf Minister of Investment of the Hashemite Kingdom of Jordan in the capital city, Amman.The meeting reviewed areas of investment and trade cooperation between Oman and Jordan and means of boosting them. During a three-day visit, Omani and Jordanian representatives from the public and private sectors will meet. During the meetings, several memoranda of understanding will be signed with the aim ...

Japan’s Nikkei Eclipses Record High After 34 Years

Japan’s Nikkei Eclipses Record High After 34 YearsTokyo, 22 Feb (ONA) --- Japan’s benchmark stock average today broke the record closing high set more than 34 years ago.Japan’s Nikkei 225 share index closed at an all-time high, bypassing its previous record set in December 1989.After logging an intraday high of 39,156.97, the index closed up 2.1% to 39,098.68.Japanese shares have logged sharp gains in recent months, helped by strong interest from foreign investors who account for the majority of trading volume on the Tokyo exchange. Year-to-date, the index has gained ...

MSX Drops 8 Points

MSX Drops 8 PointsMuscat, 22 Feb (ONA) --- Muscat Stock Exchange (MSX) general index (30) today dropped (8.5) points, comprising a decline by (0.19%) to close at (4570.98) points, compared to the last session, which stood at (4579.49) points.The trading value today stood at (RO 3,482,821), comprising a rise by (30.8%), compared to the last session, which stood at (RO 2,661,785).The report released by MSX pointed out that the market value went down by (0.219%) to reach about (RO 23.75) billion.The report added that the value of shares bought by non-Omani investors reached ...

Oman Oil Price Rises 1.20 US Dollars

Oman Oil Price Rises 1.20 US Dollars Muscat, 22 Feb (ONA) --- Oman oil price (April delivery 2024) today reached 82.66 US Dollars, comprising a rise by 1.20 US Dollars compared to the price of yesterday (Wednesday), which stood at 81.46 US Dollars. The average price of Oman oil (February delivery 2024) has stabilized at 77.21 US Dollars per barrel, thus 5.96 US Dollars per barrel lower than January ...

Duqm Refinery Celebrates 100th Export Vessel, Reinforcing Its Strategic Edge in Global Supply Chains

Duqm Refinery Celebrates 100th Export Vessel, Reinforcing Its Strategic Edge in Global Supply Chains Duqm, 21 Feb (ONA) --- OQ8, a $9 billion joint venture between Oman’s OQ and Kuwait Petroleum International (KPI), announced the dispatch of its 100th export vessel, from its terminal in Duqm. This milestone highlights OQ8's flawless safety record since its commencement in May 2023 and underscores its vital role in enhancing global supply chain resilience, having successfully exported over 4.1 million tons of products to global customers. Duqm’s location and ...

Japan’s Trade Deficit Dwindles as Exports Continue to Grow

Japan’s Trade Deficit Dwindles as Exports Continue to Grow Tokyo, 21 Feb (ONA) --- Japan’s exports grew nearly 12% in January as shipments jumped in vehicles, auto parts and machinery, according to government data today. That helped the nation’s trade deficit shrink to 1.76 trillion yen ($12 billion), or about half of what it was a year ago, as imports declined 9.6% from the previous year. By region, exports grew to North America, the rest of Asia and the Middle East, while imports generally fell from all global regions. Imports, which have been ...

Omani Industrial Sector Seeks to Adopt AI and Factory Automation Technologies

Omani Industrial Sector Seeks to Adopt AI and Factory Automation Technologies Muscat, 21 Feb (ONA) --- The Ministry of Commerce, Industry, and Investment Promotion (MoCIIP) continuously works towards developing the industrial sector and increasing its contribution to the local GDP. This is achieved through the constant updating of laws, providing incentives and exemptions for Omani factories. The ministry proactively addresses challenges facing the sector, finding appropriate solutions, reviewing available opportunities, and marketing them domestically and internationally. ...

MSX Drops 48 Points

MSX Drops 48 Points Muscat, 21 Feb (ONA) --- Muscat Stock Exchange (MSX) general index (30) today dropped (2.01) points, comprising a decline by (0.04%) to close at (4579.49) points, compared to the last session, which stood at (4581.51) points. The trading value today stood at (RO 2,661,785), comprising a surge by (69.7%), compared to the last session, which stood at (RO 1,568,179). The report released by MSX pointed out that the market value went up by (0.016%) to reach about (RO 23.80) billion. The report added that the value of shares bought by non-Omani investors ...

Omani Products Draw Crowd at Gulfood 2024 in Dubai

Omani Products Draw Crowd at Gulfood 2024 in DubaiDubai, 21 Feb (ONA) --- Omani companies and factories specialising in the food sector are capturing substantial attention and interest at Gulfood 2024 in Dubai, reflecting the quality and appeal of their offerings. Represented by the Public Establishment for Industrial Estates "Madayn", the Sultanate of Oman is actively present at this leading annual showcase for the global food and beverage industry. Marketing and sales officials of the participating Omani companies and factories emphasised on the pivotal role played by ...

Oman Oil Price Drops 1.31 US Dollars

Oman Oil Price Drops 1.31 US Dollars Muscat, 21 Feb (ONA) --- Oman oil price (April delivery 2024) today reached 81.46 US Dollars, comprising a drop by 1.31 US Dollars compared to the price of yesterday (Tuesday), which stood at 82.77 US Dollars. The average price of Oman oil (February delivery 2024) has stabilized at 77.21 US Dollars per barrel, thus 5.96 US Dollars per barrel lower than January delivery 2024. ---Ends/Anas ...

"Partnership, Integration" Program Reviews Competitiveness in Private Sector, Improving Business Milieu

"Partnership, Integration" Program Reviews Competitiveness in Private Sector, Improving Business Milieu Muscat, 20 Feb (ONA) --- Oman Chamber of Commerce and Industry (OCCI), in partnership with the Ministry of Commerce, Industry and Investment Promotion, today organized the “Partnership and Integration” programme. The programme aims to find solutions to the challenges facing the progress of the Omani private sector, upgrade the level of performance, and keep pace with aspirations in light of the objectives of the Oman Vision 2040 towards an effective and proactive ...

MSX Drops 48 Points

MSX Drops 48 Points Muscat, 20 Feb (ONA) --- Muscat Stock Exchange (MSX) general index (30) today dropped (48.2) points, comprising a decline by (1.04%) to close at (4581.51) points, compared to the last session, which stood at (4629.68) points. The trading value today stood at (RO 1,568,179), comprising a fall by (51.3%), compared to the last session, which stood at (RO 3,222,593). The report released by MSX pointed out that the market value went down by (0.284%) to reach about (RO 23.80) billion. The report added that the value of shares bought by non-Omani investors ...

Karwa Motors Launches Intercity Buses

Karwa Motors Launches Intercity Buses Muscat, 20 Feb (ONA) --- Karwa Motors, a subsidiary of Oman Investment Authority (OIA) and Qatar Transportation Company, announced the launch of a new type of buses, specifically intercity buses. The new type of the buses designed to accommodate 45 passengers in line with Gulf standard specifications approved for buses operating in the oil and gas sector. The company today celebrated delivering two of these buses to a leading transportation company in the Sultanate of Oman. Karwa Motors said that the delivery of these two ...

Heritage Ministry Holds “Oman 360-degree Perspective” Event

Heritage Ministry Holds “Oman 360-degree Perspective” Event Riyadh, 20 Feb (ONA) --- Acting in cooperation with the Embassy of the Sultanate of Oman in the Kingdom of Saudi Arabia (KSA), the Ministry of Heritage and Tourism today organized an event codenamed “Oman in a 360 Degree Perspective” to explore investment opportunities available in Oman. The opening of the event was held under the auspices of HH Sayyid Faisal Turki Al Said, Ambassador of the Sultanate of Oman to the Kingdom of Saudi Arabia. The ceremony was attended by representatives of the authorities ...

Foreign Direct Investment in Oman Exceeds RO 27 Billion by End of 2022

Foreign Direct Investment in Oman Exceeds RO 27 Billion by End of 2022 Muscat, 20 Feb (ONA) --- The volume of foreign direct investment (FDI) in the Sultanate of Oman by the end of 2022 reached RO 27,134.9 million with investment flow that constituted 4.8% of Gross Domestic Product at current prices against foreign investment of RO 25,089.1 million by the end of 2021, according to the preliminary data issued by the National Centre for Statistics and Information (NCSI). FDI constituted 75.9% of total foreign investment by the end of 2022. Foreign investment in financial ...

Oman Oil Price Rises 51 Cents

Oman Oil Price Rises 51 CentsMuscat, 20 Feb (ONA) --- Oman oil price (April delivery 2024) today reached 82.77 US Dollars, comprising a rise by 51 cents compared to the price of yesterday (Monday), which stood at 82.26 US Dollars.The average price of Oman oil (February delivery 2024) has stabilized at 77.21 US Dollars per barrel, thus 5.96 US Dollars per barrel lower than January delivery 2024.---Ends/Thuraiya/Anas ...