News

Oman Air participates in Arabian Travel Market 2023 Muscat, 30 Apr (ONA) --- Oman Air will participate tomorrow (Monday) in the Arabian Travel Market (ATM), the region’s leading international travel and tourism event, held at Dubai, United Arab Emirates (UAE). As many as 2,000 participants from the global travel community will come together for the four days of exhibits, discussions, and networking. The 30th edition of Arabian Travel Market (ATM) will be held under the theme of ‘Working Towards Net Zero’. The conference programmewill address various sustainability ...

Wall Street Surges Amid Mixed World Indexes New York, 27 Apr (ONA) --- Wall Street increased today due to positive results from Meta Platforms with profits exceeding expectations. The S&P 500 was 0.7% higher in early trading and on pace for its first gain in three days. The Dow Jones Industrial Average was up 181 points, or 0.5%, at 33,483, while the Nasdaq composite was leading the market with a 1% gain. In markets overseas, stock indexes were mixed in Europe and modestly higher across much of Asia. Japan’s Nikkei 225 rose 0.2% as the Bank of Japan began a ...

Usufruct Agreements Worth Over RO 32 Million Signed in 4 GovernoratesMuscat, 27 Apr (ONA) --- Usufruct contracts were signed today at the Ministry of Housing and Urban Planning to establish agricultural projects in four governorates in Oman to the tune of more than RO 32 million. The projects cover an area of more than 3 million sqm.The contracts seek to implement the ministry’s initiatives to support the agricultural sector and consolidate its partnership and integration with the Ministry of Agriculture, Fisheries and Water Resources. The overall purpose is to diversify sources of ...

MSX Gains 14 Points Muscat, 27 Apr (ONA) --- Muscat Stock Exchange (MSX) general index (30) today gained (14.9) points, comprising a rise by (0.32%) to close at (4734.51) points, compared to the last session, which stood at (4719.58) points. The trading value today stood at (RO 1,942,275), comprising an increase by (9.1%), compared to the last session, which stood at (RO 1,780,084). The report released by MSX pointed out that the market value went down by (0.284%) to reach about (RO 23.73) billion. The report added that the value of shares bought by non-Omani investors ...

Oman Oil Price Drops 4.08 US Dollars Muscat, 27 Apr (ONA) --- Oman oil price (June Delivery 2023) today reached 76.61 US Dollars, comprising a decline by 4.08 US Dollars from the price of yesterday (Wednesday), which was 80.69 US Dollars. The average price of Oman oil (April Delivery 2023) has stabilized at 82.23 US Dollars per barrel, thus 1.31 US Dollar per barrel higher than March Delivery 2023. --- Ends/Anas ...

Salalah Port Receives Cruise Ship Salalah, 26 Apr (ONA) --- Salalah Port today received a cruise ship with 375 passengers on its board, including 150 tourists. The cruise ship has a tourist programme to visit many ports around the world. The tourist programme of the ship, which came from South Al Sharqiyah Governorate heading to Djibouti, included tours to tourist attractions and archaeological sites renowned in the Governorate of Dhofar, besides visiting beaches and traditional bazaars in the Wilayat of Salalah. The Sultanate of Oman annually witnesses visits of many ...

MSX Drops 24 Points Muscat, 26 Apr (ONA) --- Muscat Stock Exchange (MSX) general index (30) today lost (24.3) points, comprising a drop by (0.51%) to close at (4719.58) points, compared to the last session, which stood at (4743.92) points. The trading value today stood at (RO 1,780,084), comprising a decline by (9.2%), compared to the last session, which stood at (RO 1,960,803). The report released by MSX pointed out that the market value went down by (0.040%) to reach about (RO 23.80) billion. The report added that the value of shares bought by non-Omani investors ...

Al Madina Real Estate Officially Launches Sale of Residential Units in Hayy Al Sahel Project Muscat, 26 Apr (ONA) --- Al Madina Real Estate will, on Sunday 30 April, mark the launch of sales of Hayy Al Sahel tourism project in the Wilayat of Qurayat, Governorate of Muscat. The ceremony will be held under the auspices of Salim Mohammed Al Mahrouqi, Minister of Heritage and Tourism. Hayy Al Sahel tourism project occupies an area of 1,000,300 sqm along the seashore. It comprises 3-star, 4-star and 5-star hotels, luxury residential units, a golf academy, an equestrian academy, a ...

Oman Participates in Arabian Travel Market Event at DubaiMuscat, 26 Apr (ONA) --- The Sultanate of Oman, represented by the Ministry of Heritage and Tourism will be taking part in the Arabian Travel Market (ATM) which will kick off on Monday 1 May 2023 in Dubai, the United Arab Emirates (UAE). ATM will be participated by 20 establishments related to the tourism sector. Oman’s participation comes within the framework of introducing the tourism features of the country’s governorates and wilayats, in addition to highlighting some of the most important services provided to tourists. ...

Oman Oil Price Drops 2.05 US Dollars Muscat, 26 Apr (ONA) --- Oman oil price (June Delivery 2023) today reached 80.69 US Dollars, comprising a decline by 2.05 US Dollars from the price of yesterday (Tuesday), which was 82.74 US Dollars. The average price of Oman oil (April Delivery 2023) has stabilized at 82.23 US Dollars per barrel, thus 1.31 US Dollar per barrel higher than March Delivery 2023. --- Ends/Anas ...

MSX Closes at 4743 Points Muscat, 25 Apr (ONA) --- Muscat Stock Exchange (MSX) general index (30) today gained (0.5) point, comprising a rise by (0.01%) to close at (4743.92) points, compared to the last session, which stood at (4743.46) points. The trading value today stood at (RO 1,960,803), comprising a drop by (72.1%), compared to the last session, which stood at (RO 7,021,063). The report released by MSX pointed out that the market value went up by (0.039%) to reach about (RO 23.81) billion. The report added that the value of shares bought by non-Omani investors ...

Ferroalloy, Wrapping Paper Unit to Be Set Up at Salalah Free ZoneSalalah, 25 Apr (ONA) --- Salalah Free Zone, a subsidiary of Asyad Group, signed an agreement to establish a project for processing ferrous alloys and high-quality recycled wrapping paper. The agreement was signed with Chinese silicon industry company Besto Hengda Oman. The project will be built on an area of 300,000 square meters, with an investment worth USD 230 million (RO 88.5 million. In its first phase, its production capacity is scheduled to reach about 90,000 tons of ferrosilicon alloys annually. The ...

Oman Oil Price Rises 1.49 US DollarsMuscat, 25 Apr (ONA) --- Oman oil price (June Delivery 2023) today reached 82.74 US Dollars, comprising a rise by 1.49 US Dollars from the price of yesterday (Monday), which was 81.25 US Dollars.The average price of Oman oil (April Delivery 2023) has stabilized at 82.23 US Dollars per barrel, thus 1.31 US Dollar per barrel higher than March Delivery 2023.--- Ends/Anas ...

Oman’s GDP Reaches RO 44.1 Billion in Current PricesMuscat, 25 Apr (ONA) —- The National Centre for Statistics and Information (NCSI) issued the 2nd edition of the "Quarterly National Accounts Indicators" report, which highlights the most important indicators at current and fixed prices, growth rates of economic activities and prominent indicators boosting the rise in Gross Domestic Product (GDP), until the end of December 2022.The Sultanate of Oman’s GDP at fixed prices increased by 4.3% by the end of December 2022 to stand at RO 36.1 billion compared to the corresponding period in ...

MSX Drops 5 PointsMuscat, 19 Apr (ONA) --- Muscat Stock Exchange (MSX) general index (30) today lost (5.5) points, comprising a drop by (0.12%) to close at (4743.46) points, compared to the last session, which stood at (4748.98) points.The trading value today stood at (RO 7,021,063), comprising a surge by (233%), compared to the last session, which stood at (RO 2,108,419).The report released by MSX pointed out that the market value went down by (0.016%) to reach about (RO 23.80) billion.The report added that the value of shares bought by non-Omani investors reached (RO 392,000), ...

Commerce Minister Meets Jordanian Minister of InvestmentAmman, 19 Apr (ONA) ---- Qais Mohammed Al Yousef, Minister of Commerce, Industry and Investment Promotion met today via video-conferencing with Kholoud Al Saqqaf, Minister of Investment of the Hashemite Kingdom of Jordan.During the meeting, the two sides reviewed joint investment opportunities in various fields between the two countries. They also discussed ways to enhance joint investment cooperation and encourage direct investments in available sectors and activities in accordance with the laws and regulations of the ...

Oman Oil Price Drops 1.06 US DollarMuscat, 19 Apr (ONA) --- Oman oil price (June Delivery 2023) today reached 83.61 US Dollars, comprising a drop by 1.06 US Dollar from the price of yesterday (Tuesday), which was 84.67 US Dollars.The average price of Oman oil (April Delivery 2023) has stabilized at 82.23 US Dollars per barrel, thus 1.31 US Dollar per barrel higher than March Delivery 2023. --- Ends/Thuraiya/AG ...

Electricity Sector Witnesses Strategic, Qualitative Projects as Part of Energy Transition Strategy Muscat, 18 Apr (ONA) --- The electricity sector is one of the vital sectors that the Ministry of Energy and Minerals relies on in advancing the national economy, improving its performance and raising its efficiency. Companies operating in the electricity sector pump large and continuous investments in the development of the infrastructure of the sector in order to maintain reliability of service and keep pace with the growth in demand for power in response to economic growth, and ...

MSX Drops 23 Points Muscat, 18 Apr (ONA) --- Muscat Stock Exchange (MSX) general index (30) today lost (23.3) points, comprising a drop by (0.49%) to close at (4748.98) points, compared to the last session, which stood at (4772.32) points. The trading value today stood at (RO 2,108,419), comprising a decline by (52.8%), compared to the last session, which stood at (RO 4,470,000). The report released by MSX pointed out that the market value went down by (0.051%) to reach about (RO 23.81) billion. The report added that the value of shares bought by non-Omani investors ...

Oman Oil Price Drops 1.34 US DollarMuscat, 18 Apr (ONA) --- Oman oil price (June Delivery 2023) today reached 84.67 US Dollars, comprising a drop by 1.34 US Dollar from the price of yesterday (Monday), which was 86.01 US Dollars.The average price of Oman oil (April Delivery 2023) has stabilized at 82.23 US Dollars per barrel, thus 1.31 US Dollar per barrel higher than March Delivery 2023. --- Ends/Thuraiya/AG ...

Tender Results of Government Treasury Bills Worth RO 42 Million Issued This Week Muscat, 18 Apr (ONA) --- The total issuance of Government Treasury Bills amounted to RO 42 Million. The value of the allotted Treasury bills amounted to RO 4 million, for a maturity period of 28 days. The average accepted price reached RO 99.645 for every RO 100, and the minimum accepted price arrived at RO 99.645 per RO 100. The average discount rate and the average yield reached 4.62768% and 4.64417%, respectively. Whereas, the value of the allotted Treasury bills amounted to RO 38 million, ...

Total Growth for All Operations at Ports of Salalah, Sohar, Duqm Reaches 8pc in 2022 Muscat, 17 Apr (ONA) --- The key ports of the Sultanate of Oman (Salalah, Sohar and Duqm) achieved a total growth in their operations by 8 percent, as more than 62.3 million tons of general cargo were handled during 2022, with a growth rate of 10 percent over the same period in 2021. Liquid cargo handled stood at more than 23.7 million tons, an increase of 22 percent over the same period in 2021. The number of containers handled at the three ports stood at about 5.2 million TEUs. More than 1.59 ...

Transport, Communications Ministry Conducts Study on Digital Innovation Muscat, 17 Apr (ONA) --- The Ministry of Transport, Communications and Information Technology, in cooperation with the International Telecommunication Union, conducted a study on "Digital Innovation in the Sultanate of Oman: Analysis of Reality and Future Ambitions". The study focused on assessing the enabling milieu for digital innovation in the Sultanate of Oman, prominent challenges and opportunities for developing digital innovation, in addition to the importance of identifying strategic priorities and ...

MSX Gains 12 PointsMuscat, 17 Apr (ONA) --- Muscat Stock Exchange (MSX) general index (30) today gained (12.6) points, comprising a rise by (0.27%) to close at (4772.32) points, compared to the last session, which stood at (4759.69) points.The trading value today stood at (RO 4,470,000), comprising an increase by (2.5%), compared to the last session, which stood at (RO 4,360,968).The report released by MSX pointed out that the market value went up by (0.149%) to reach about (RO 23.82) billion.The report added that the value of shares bought by non-Omani investors reached ...

Oman Oil Price Drops 1 Cent Muscat, 17 Apr (ONA) --- Oman oil price (June Delivery 2023) today reached 86.01 US Dollars, comprising a drop by 1 cent from the price of last (Friday), which was 86.02 US Dollars. The average price of Oman oil (April Delivery 2023) has stabilized at 82.23 US Dollars per barrel, thus 1.31 US Dollar per barrel higher than March ...

MSX Drops 51 Points Muscat, 16 Apr (ONA) --- Muscat Stock Exchange (MSX) general index (30) today lost (51.5) points, comprising a drop by (1.07%) to close at (4759.69) points, compared to the last session, which stood at (4811.17) points. The trading value today stood at (RO 4,360,968), comprising a surge by (262.4%), compared to the last session, which stood at (RO 1,203,333). The report released by MSX pointed out that the market value went down by (0.163%) to reach about (RO 23.78) billion. The report added that the value of shares bought by non-Omani investors ...

Bank Muscat Posts Profits Exceeding RO 51 Million for Q1 2023 Muscat, 16 Apr (ONA) --- Bank Muscat posted a net profit of RO 51.30 million during the first quarter of 2023 compared to RO 48.26 million reported during the same period in 2022, constituting an increase of 6.3%, according to the preliminary unaudited results announced by the bank. Net Interest Income from Conventional Banking and Net Income from Islamic Financing stood at RO 91.71 million for the three months period ended on 31 March 2023 compared to RO 82.08 million for the same period in 2022, comprising an ...

TRA Grants New License to Provide VoIP Services Muscat, 16 Apr (ONA) --- The Telecommunications Regulatory Authority (TRA) granted a new license to Oman Data Park (ODP) to provide voice or video telecommunication services over Internet protocol (VoIP), which contributes to expanding the base of services provided via Internet Protocol in the Sultanate of Oman. The issuance of the license is based on Oman’s Telecommunications Regulatory Law and its executive regulations, issued by the Ministerial decision No. 144/2008. In accordance with this approval, ODP will work to ...

EDO Achieves USD 100 Million in Cost Savings from Loan Term Renegotiations Muscat, 16 Apr (ONA) --- Energy Development Oman (EDO) has successfully renegotiated the terms of its USD 2.5 billion loan, resulting in cost savings of USD 100 million in interest. The move sets a new benchmark for EDO and represents a significant saving for the company and is part of a broader initiative aimed at reducing interest costs across government-related entities in Oman in line with the government’s objectives to achieve financial sustainability. The borrowing cost of EDO is largely ...

Commerce Ministry Reviews Investment Milieu in Governorates Muscat, 16 Apr (ONA) --- The Ministry of Commerce, Industry and Investment Promotion today reviewed the investment milieu in the Sultanate of Oman’s governorates. This came during a meeting held via video-conferencing between Qais Mohammed Al Yousef, Minister of Commerce, Industry and Investment Promotion and the governorate’s governors. The meeting highlighted investment opportunities in Oman’s governorates, in addition to challenges. It also touched on topics related to local community companies. ...