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Direct Premiums Written Reached RO 431 Million Till September 2022

Direct Premiums Written Reached RO 431 Million Till September 2022 Muscat, 28 Dec (ONA) --- The insurance sector in the Sultanate of Oman recorded a 13% rise in the total direct premiums written to stand at RO 133 million during the third quarter of 2022 compared to RO 118 million during the corresponding period in 2021, according to the latest data issued by the Capital Market Authority (CMA). National companies grabbed the largest share of direct premiums written to stand at 83%, which constitutes RO 111 million compared to RO 99.4 million during the corresponding period ...

MSX Gains 26 Points

MSX Gains 26 Points Muscat, 28 Dec (ONA) --- Muscat Stock Exchange (MSX) general index (30) today gained (26.7) point, comprising a rise by (0.55%) to close at (4872.06) points, compared to the last session, which stood at (4845.41) points. The trading value today stood at (RO 4,240,988), comprising a drop by (24.5%), compared to the last session, which stood at (RO 5,619,262). The report released by MSX pointed out that the market value went up by (0.111%) to reach about (RO 23.75) billion. The report added that the value of shares bought by non-Omani investors reached ...

Project Development Agreement Signed for World Scale Petrochemical Complex in Duqm

Project Development Agreement Signed for World Scale Petrochemical Complex in Duqm Muscat, 28 Dec (ONA) ---- OQ, SABIC and Kuwait Petroleum International (KPI) have signed a Project Development Agreement of a jointly owned petrochemical complex in the Special Economic Zone at Duqm (SEZAD), the Sultanate of Oman. The three companies aim to establish a petrochemical complex consisting of a steam cracker and derivative units and a natural gas liquid (NGL) extraction facility. They will conduct the necessary studies and collaborate using their wealth of ...

Oman Oil Price Drops 19 Cents

Oman Oil Price Drops 19 Cents Muscat, 28 Dec (ONA) --- Oman oil price (February Delivery 2023) today reached 80.43 US Dollars, comprising a drop by 19 cents from the price of yesterday (Tuesday), which stood at 80.62 US Dollars. The average price of Oman oil (December Delivery 2022) has stabilized at 90.79 US Dollars per barrel, thus 1 cent per barrel lower than November Delivery 2022. --- Ends/Anas ...

Local Liquidity Increases by RO 45 Million

Local Liquidity Increases by RO 45 MillionMuscat, 27 Dec (ONA) --- The total foreign assets of the Central Bank of Oman (CBO) decreased by 12.8%, reaching RO 6,221 million by the end of October 2022 compared to RO 7,137.4 million by the end of August 2021, according to data released by the National Centre for Statistics and Information (NCSI). The total local liquidity rose by 0.2% to stand at RO 20,024 million compared to RO 19,979.4 million during the corresponding period in 2021.Narrow Money Supply (M1) declined by 1% to reach RO 5,583.6 million compared to RO 5,640.9 million ...

MSX Gains 14 Points

MSX Gains 14 Points Muscat, 27 Dec (ONA) --- Muscat Stock Exchange (MSX) general index (30) today gained (14.3) point, comprising a rise by (0.29%) to close at (4845.41) points, compared to the last session, which stood at (4831.15) points. The trading value today stood at (RO 5,619,262), comprising a drop by (6.5%), compared to the last session, which stood at (RO 6,010,956). The report released by MSX pointed out that the market value went up by (0.090%) to reach about (RO 23.72) billion. The report added that the value of shares bought by non-Omani investors reached ...

Asyad Group Launches "Data Lake" to Promote Data-Driven Competitiveness

Asyad Group Launches "Data Lake" to Promote Data-Driven Competitiveness Muscat, 27 Dec (ONA) ---- Asyad Group launched Data Lake as its latest digital ecosystem project that falls within its strategy to equip Asyad with empirical insights on current and future operational, markets and customer trends. On this project, Asyad Group partnered with Rihal, an Omani data and migration services company, to develop its big-data management and analytics capabilities, support cloud-based applications and utilize Oman’s new in-country cloud infrastructure, accelerating the ...

Oman LNG Signs Agreements with Japanese Firms to Sell Liquified Natural Gas

Oman LNG Signs Agreements with Japanese Firms to Sell Liquified Natural GasMuscat, 27 Dec (ONA) --- Oman LNG today signed three binding sheet agreements with Japanese firms for the production and delivery of LNG starting from 2025. The total amount of LNG to be delivered is 2.35 million metric tonnes per annum (MTPA).The new agreements will see Oman LNG supplying LNG based on contracts varying from 5 to 10 years. The amount of LNG to be delivered is as follows: 0.8 MTPA to ITOCHU Corporation, 0.8 MTPA to JERA Co., Inc. and 0.75 MTPA to Mitsui and Co. Ltd.Eng. Salim Nasser Al Aufi, ...

Partnership Agreement Signed to Develop “Intaj Suhar” Advanced Industries Company

Partnership Agreement Signed to Develop “Intaj Suhar” Advanced Industries CompanyMuscat, 27 Dec (ONA) --- Industrial Innovation Academy today signed a partnership agreement with Sohar University to develop “Intaj Suhar” advanced industries’ company.The agreement was signed by Dr. Ayman Abdullah Al Fudhaili, CEO of Industrial Innovation Academy, and Dr. Hamdan Sulaiman Al Fazari, Vice-Chancellor of Sohar University.The ceremony was held under the auspices of Qais Mohammed Al Yousef, Minister of Commerce, Industry and Investment Promotion.The agreement, which lends support to ...

Conference on Technical Security in Banking Sector Addresses Modern Technical Challenges

Conference on Technical Security in Banking Sector Addresses Modern Technical Challenges Muscat, 27 Dec (ONA) ---- The Technical Security in the Banking and Financial Sector Conference began here today under the patronage of Tahir Salim Al Amari, Executive President of the Central Bank of Oman (CBO). The event was organized by Element Technology Company in partnership with Microsoft and the CBO. The conference came to provide technical solutions to the modern technical challenges facing the security of the financial and banking sector in the Sultanate of Oman and the ...

Oman, Japan Ink MoU in Energy Field, Extend MoU in Oil and Gas Field

Oman, Japan Ink MoU in Energy Field, Extend MoU in Oil and Gas Field Muscat, 27 Dec (ONA) --- The Sultanate of Oman, represented by the Ministry of Energy and Minerals, and Japan, represented by its Ministry of Economy, Trade and Industry, today signed a Memorandum of Understanding (MoU) in the field of hydrogen, fuel ammonia and carbon recycling that includes Methanation. The two sides also signed the third extension of the MoU signed between the Ministry of Energy and Minerals and Japan Organization for Metals and Energy Security in the field of crude energy, natural gas ...

Tender Results Issue Number 168 of Government Treasury Bills Issued

Tender Results Issue Number 168 of Government Treasury Bills Issued Muscat, 17 (ONA) --- A tender of Government Treasury Bills, issue number 168, worth RO 26 Million was issued this week. The results of the said issue are as follows:The total value of the allotted Treasury bills amounted to RO 26 million, for a maturity period of 182 days,from 28 December 2022 until 28 June 2023. The average accepted price reached RO 97.589 for every RO 100, and the minimum accepted price arrived at RO 97.550 per RO 100. The average discount rate and the average yield reached 4.83517% ...

Oman, Russia Ink MoU in Air Transport

Oman, Russia Ink MoU in Air Transport Moscow, 27 Dec (ONA)---The Sultanate of Oman, represented by the Civil Aviation Authority, today signed a memorandum of understanding (MoU) in the field of air transport with the Russian Federation. The agreement, signed in Moscow, provides for Omani and Russian air carriers’ operating as many as 14 weekly regular flights between the two countries. The MoU also provides for code sharing between each other’s airlines, besides various regulatory and operational aspects of air transport and civil aviation. The signing ceremony was ...

Oman Oil Price Rises 2.04 US Dollars

Oman Oil Price Rises 2.04 US Dollars Muscat, 27 Dec (ONA) --- Oman oil price (February Delivery 2023) today reached 80.62 US Dollars, comprising a rise by 2.04 US Dollars from the price of last (Friday), which stood at 78.58 US Dollars. The average price of Oman oil (December Delivery 2022) has stabilized at 90.79 US Dollars per barrel, thus 1 cent per barrel lower than November Delivery 2022. --- Ends/Anas ...

Tender Board Awards Projects Worth More Than RO 131 Million

Tender Board Awards Projects Worth More Than RO 131 MillionMuscat, 26 (ONA) --- The Tender Board today awarded a number of projects to the tune of RO 131,430,118.The projects were awarded during the Tender Board’s 7th meeting of the year (2022), chaired by Dr. Said Mohammed Al Saqri, Minister of Economy, Chairman of the Tender Board.The tasks endorsed by the Tender Board included the construction of a dyke for projection against flood water at the gorge of Wadi Addai, Wilayat of Al Amerat, Governorate of Muscat at a cost of RO 38,660,023 and a 5-year project to supply, design and ...

Over 1.4 Million Hotel Guests in Oman by November 2022

Over 1.4 Million Hotel Guests in Oman by November 2022 Muscat, 26 Dec (ONA) --- The revenues of 3-5 star hotels increased by 91.7% by the end of November 2022 to stand at RO 161,262,000, according to the monthly statistical bulletin of tourism indicators issued by the National Centre for Statistics and Information (NCSI). The number of 3-5 star hotels’ guests rose by 33.9% till the end of November 2022 to reach 1,449,511 guests compared to 1,082,921 guests by the corresponding period in 2021, while occupancy rate grew by 18.2%. The number of guests from the GCC during the ...

Media Delegates View Tourism Landmarks, FZ Investment Opportunities

Media Delegates View Tourism Landmarks, FZ Investment Opportunities Muscat, 26 Dec (ONA)—Delegates from regional and international media organizations today held meetings with Eng. Ahmed Hassan Al Dheeb, Deputy Chairman of the Public Authority for Special Economic Zones and Free Zones, and Azzan Qassim Al Busaidi, Undersecretary of the Ministry of Heritage and Tourism. At the outset of the meeting, Al Dheeb spoke about economic and free zones in Oman, represented by the Special Economic Zone at Duqm and the free zones in Salalah, Sohar and Al Mayounah, as well as the most ...

MSX Closes at 4831 Points

MSX Closes at 4831 PointsMuscat, 26 Dec (ONA) --- Muscat Stock Exchange (MSX) general index (30) today gained (0.4) point, comprising a rise by (0.01%) to close at (4831.15) points, compared to the last session, which stood at (4830.77) points.The trading value today stood at (RO 6,010,956), comprising a surge by (58.6%), compared to the last session, which stood at (RO 3,790,474).The report released by MSX pointed out that the market value went up by (0.015%) to reach about (RO 23.70) billion.The report added that the value of shares bought by non-Omani investors reached ...

Omani Sites on UNESCO World Heritage List Contribute to Tourism

Omani Sites on UNESCO World Heritage List Contribute to Tourism Muscat, 26 Dec (ONA) --- The Omani archaeological sites included on the World Heritage List contribute to enhancing the tourism and heritage elements in the Sultanate of Oman. Those sites also help attract investments to the tourism sector, which helps to empower the sector in contributing to the achievement of Oman Vision 2040 goals. Ibtisam Abdullah Al Mamari, Director of the Directorate General of World Heritage at the Ministry of Heritage and Tourism, said, "Heritage is a fundamental tool for creating ...

Bylaw Issued to Regulate e-marketing, Promotion via Websites, Social Media

Bylaw Issued to Regulate e-marketing, Promotion via Websites, Social MediaMuscat, 25 Dec (ONA) --- The Ministry of Commerce, Industry and Investment Promotion today issued a bylaw to regulate business activities involving marketing and promotion via electronic websites and social media groups. The bylaw will be in force after 90 days from its publication in the Official Gazette.The bylaw, which seeks to protect both merchants and consumers, requires the promoters of products and services via social media to obtain a license from the Commercial Affairs and Electronic Trade Department ...

MSX Declines 7 Points

MSX Declines 7 Points Muscat, 25 Dec (ONA) --- Muscat Stock Exchange (MSX) general index (30) today lost (7.6) points, comprising a drop by (0.16%) to close at (4830.77) points, compared to the last session, which stood at (4838.40) points. The trading value today stood at (RO 3,790,474), comprising a sirge by (160.8%), compared to the last session, which stood at (RO 1,453,540). The report released by MSX pointed out that the market value went up by (0.147%) to reach about (RO 23.70) billion. The report added that the value of shares bought by non-Omani investors reached ...

MSX Signs Agreements with Saudi Exchange for Cross Listings

MSX Signs Agreements with Saudi Exchange for Cross Listings Muscat, 22 Dec (ONA) --- An agreement was signed today between Muscat Stock Exchange (MSX), the Saudi Exchange, Muscat Clearing Company and Edaa company. The agreement allows companies to cross list on both Omani and Saudi Exchanges, while allowing investors access to two thriving capital markets in the Gulf region. Muscat Stock Exchange signed an agreement with Saudi Exchange to ensure an orderly market in the trading of shares across the Muscat Stock Exchange and Saudi Exchange to share relevant information ...

Oman, Saudi Arabia Moot Means of Boosting Commercial Relations

Oman, Saudi Arabia Moot Means of Boosting Commercial Relations Muscat, 22 Dec (ONA) --- The Ministry of Commerce, Industry and Investment Promotion today held a joint meeting with the Saudi Ministry of Commerce. The two sides mulled ways of enhancing commercial relations, while at the same time consulting regional and international experiences in developing bilateral commercial, industrial and investment structures. The Omani side at the meeting was headed by Qais Mohammed Al Yousef, Minister of Commerce, Industry and Investment Promotion, and the Saudi side was led by Dr. Majid ...

CBO Board of Governors Holds its Fourth Meeting of 2022

CBO Board of Governors Holds its Fourth Meeting of 2022 Muscat, 22 Dec (ONA) --- The Central Bank of Oman (CBO) today held its fourth Board of Governors meeting for 2022. The Board reviewed the most important global and local economic, financial and monetary developments during the last period of this year, as well as economic prospects and challenges. The Board reviewed the report of the financial position of the Central Bank of Oman (CBO), the position of reserves and the performance of foreign investments of CBO. Likewise, the Board examined the financial safety ...

MSX Rises 41 Points

MSX Rises 41 PointsMuscat, 22 Dec (ONA) --- Muscat Stock Exchange (MSX) general index (30) today gained (41.04) points, comprising a rise by (0.86%) to close at (4838.40) points, compared to the last session, which stood at (4797.36) points.The trading value today stood at (RO 1,453,540), comprising an increase by (7.7%), compared to the last session, which stood at (RO 1,349,474).The report released by MSX pointed out that the market value went up by (0.110%) to reach about (RO 23.73) billion.The report added that the value of shares bought by non-Omani investors reached ...

Finance Minister Receives Saudi Minister of Commerce, Acting Media Minister

Finance Minister Receives Saudi Minister of Commerce, Acting Media Minister Muscat, 22 Dec (ONA) --- Sultan Salim Al Habsi, Minister of Finance received in his office today Dr. Majid Abdullah Al Qasabi, Minister of Commerce, Acting Minister of Media of the Kingdom of Saudi Arabia (KSA), who is currently visiting the Sultanate of Oman . During the meeting, the two sides reviewed areas of cooperation and discussed matters of mutual interest. They also exchanged views on financial matters of common interest. The meeting was attended by Abdullah Salim Al Harthy, Undersecretary ...

Housing Ministry Inks 25 Usufructs Worth RO 2m

Housing Ministry Inks 25 Usufructs Worth RO 2m Muscat, 22 Dec (ONA) --- The Ministry of Housing and Urban Planning, today signed 25 usufruct contracts to the tune of RO 2,049,000 to award land plots for investment projects in a number of governorates in Oman. The contracts were signed by Eng. Hamad Ali Al Nazwani, Undersecretary of the Ministry of Housing, and representatives of firms that obtained lands under the usufruct system. These contracts covered 3 industrial projects in the South A’Sharqiyah Governorate, 15 residential and commercial projects in A’Dakhiliyah ...

Oman, KSA Review Areas of Cooperation, Future Visions

Oman, KSA Review Areas of Cooperation, Future VisionsMuscat, 22 Dec (ONA) --- Dr. Khamis Saif Al Jabri, Chairman of the Oman Vision 2040 Implementation Follow-Up Unit received in his office today Dr. Majid Abdullah Al Qasabi, Minister of Commerce, Acting Minister of Media of the Kingdom of Saudi Arabia (KSA), who is currently visiting the Sultanate of Oman.During the meeting, the two sides reviewed areas of cooperation. They also exchanged views on Oman Vision 2040 and Saudi Vision 2030.The two sides also touched on the stages of achieving the two visions and means of benefiting from regional ...

Oman Broadband Inks Agreements, MoUs in Telecommunications and Information Technology

Oman Broadband Inks Agreements, MoUs in Telecommunications and Information TechnologyMuscat, 22 Dec (ONA) --- Oman Broadband company has signed a number of agreements and MoUs with local and international companies, to enhance joint cooperation and boost economic integration in the telecommunications and information technology sector. The first agreement was inked between Oman Broadband and OQ Group, with the aim of making OQ’s optical fiber infrastructure accessible to Oman Broadband, while considering the operational and commercial aspects of both entities.This ...

Oman Oil Price Rises 2.32 US Dollars

Oman Oil Price Rises 2.32 US Dollars Muscat, 22 Dec (ONA) --- Oman oil price (February Delivery 2023) today reached 79.49 US Dollars, comprising a rise by 2.32 US Dollars from the price of yesterday (Wednesday), which stood at 77.17 US Dollars. The average price of Oman oil (December Delivery 2022) has stabilized at 90.79 US Dollars per barrel, thus 1 cent per barrel lower than November Delivery 2022. --- Ends/Anas ...