News

South Korea's Manufacturing Jobs Fall to 12-year LowSeoul, 16 Feb (ONA) --- The number of jobs in the South Korean manufacturing sector fell to the lowest level in 12 years in January 2025 amid weak economic growth. The number of employed people in the manufacturing sector came to 4.39 million as of end-January, down 56,000 from a year earlier, according to the data compiled by Statistics Korea. The January reading marked the smallest level since January 2013, when the figure came to 4.32 million. On a monthly basis, the number of manufacturing jobs has ...

Meeting Held to Assess Preparations for 11th Five Year Development Plan Muscat, 16 Feb (ONA) --- The Supervisory Committee of the 11th Five-Year Development Plan (2026-2030) today held its 2nd meeting of the year (2025) in Muscat.The meeting, aimed to follow up and assess the development plan's course of action, was chaired by Dr. Said Mohammed Al Saqri, Minister of Economy, Head of the committee. The committee reviewed the plan’s current standing, which reflected good progress in its preparation, thanks to the efforts undertaken by 14 central teams comprising 281 members from ...

Oman Participates in Arab Economic Meeting in Cairo Cairo, 13 Feb (ONA) --- The Sultanate of Oman took part in the 115th regular session of the Arab League’s Economic and Social Council, which was held at the Arab League (AL) headquarters in Cairo today. Oman was represented at the meeting by Dr. Said Mohammed Al Saqri, Minister of Economy. The meeting discussed a report filed by the AL Secretary General on joint Arab economic and social action, and it studied preparations for the economic and social portfolio to be debated at the upcoming Arab League’s 34th Summit ...

MSX Drops 8 Points Muscat, 13 Feb (ONA) --- Muscat Stock Exchange (MSX) general index (30) today dropped (8.1) points, comprising a decline by (0.180%) to close at (4478.20) points, compared to the last session, which stood at (4486.35) points. The trading value today stood at (RO 3,078,000), comprising a drop by (49.1%), compared to the last session, which stood at (RO 6,047,000). The report released by MSX pointed out that the market value went down by (0.068%) to reach about (RO 27.34) billion. The report added that the value of shares bought by non-Omani investors ...

Eurozone Industrial Output Falls More Than ExpectedBrussels, 13 Feb (ONA) --- Eurozone industrial production registered a bigger-than-expected decline in December 2024 due to sharp falls in capital and intermediate goods output, figures from the Eurostat Statistical Office revealed today. Industrial output fell 1.1% in December 2024 from November. The fall was deeper than the forecast of 0.6% and also reversed the 0.4% increase in November. Among major industrial groupings, only non-durable consumer goods and energy production improved from the last month, up 5.1% and 0.5%, ...

GCCIA, QDF Ink Financing Agreement for Oman Direct Interconnection ProjectMuscat, 13 Feb (ONA) ——The Gulf Cooperation Council Interconnection Authority (GCCIA) and the Qatar Development Fund (QDF) formalized their partnership in a landmark financing agreement to the tune of USD 100 million.The event took place in a ceremony held today in Muscat under the patronage of Eng. Salim Nassir Al Aufi, Minister of Energy and Minerals.This agreement paves the way for a transformative direct grid connection project linking the GCCIA network with the Sultanate of Oman, the total cost of which ...

Oman Oil Price Drops 1.98 US Dollars Muscat, 13 Feb (ONA) --- Oman oil price (April delivery 2025) today reached 76.95 US Dollars, comprising a drop by 1.98 US Dollars, compared to the price of yesterday “Wednesday” which was 78.93 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/AH ...

Agreements Inked to Finance Development Projects in MusandamKhasab, 13 Feb (ONA) —— Sayyid Ibrahim Said Al Busaidi, Governor of Musandam, sponsored the signing ceremony of two agreements and two memorandums of cooperation by the Development Bank.These agreements focus on developmental financing for projects in the fisheries and tourism sectors, as well as the launch of the Economic and Green Horticulture Initiative to support entrepreneurship in various economic activities and finance hospitality establishments.This initiative aligns with the bank’s efforts to enhance economic ...

The US Dollar Declines Against Other CurrenciesTokyo, 13 Feb (ONA) —- The US dollar index, which measures the US currency against major currencies, decreased by 0.03% today, reaching 107.88, after a one-week high of 108.52 in the previous session. The dollar slightly fell against the Japanese yen by 0.06%, reaching 154.33 yen, but remains close to the highest level recorded Wednesday, at 154.80 yen. Meanwhile, the euro rose by 0.14%, reaching 1.0398 dollars, and the British pound reached 1.2456 dollars, up by 0.09%. The Chinese yuan was traded in ...

Oil Falls Amid Expectations of Potential Peace Deal between Ukraine and RussiaSingapore, 13 Feb (ONA) —- Oil prices fell today following expectations that a potential peace deal between Ukraine and Russia would end sanctions that have disrupted supply flows. Brent futures were down 55 cents, or 0.73%, at $74.63 a barrel, while US West Texas Intermediate (WTI) crude dropped 52 cents, or 0.73%, to $70.85. Brent and WTI fell more than 2% on Wednesday after US President Donald Trump said Russian President Vladimir Putin and Ukrainian President Volodymyr Zelenskiy ...

Gold Prices Rise SlightlySingapore, 13 Feb (ONA) —- Gold prices rose slightly today, after falling more than 1% in the previous session. Spot gold rose 0.1% to $2,905.12 per ounce. US gold futures were steady at $2,929.60. Spot silver rose 0.1% to $32.26 per ounce, platinum was steady at $992.32, and palladium firmed 0.2% to $975.48.—- ...

Eight Agreements Worth RO 68 Million Signed to Implement Integrated Residential Neighborhoods Seeb, 12 Feb (ONA) --- The Ministry of Housing and Urban Planning today signed 8 partnership and layout development agreements to implement projects of integrated residential neighborhoods in different governorates of Oman. The agreements have an investment value of more than RO 68 million and the projects cover an area of more than 1.7 million square metres. The agreements reflect the Ministry’s efforts to provide housing alternatives in a manner that achieves stability and social ...

OPEC Sticks to 2025, 2026 Global Oil Demand Growth Forecasts London, 12 Feb (ONA) --- The Organization of the Petroleum Exporting Countries (OPEC) today stuck to its forecast for relatively strong growth in global oil demand in 2025, saying air and road travel would support consumption and potential trade tariffs were not expected to impact economic growth. OPEC, in a monthly report, said world oil demand will rise by 1.45 million barrels per day (bpd) in 2025 and by 1.43 million bpd in 2026. Both forecasts were unchanged from last month. OPEC's view on oil ...

Dollar Jumps as Consumer Prices Rise More Than Expected New York, 12 Feb (ONA) --- The US dollar jumped today after data showed that consumer prices rose more than economists expected in January, raising the likelihood that the Federal Reserve will hold interest rates higher for longer as it battles to bring down price pressures. The headline consumer price index rose by 0.5% in January 2025, while the core index rose by 0.4%. Both were expected to rise by 0.3%. That puts headline consumer price gains at 3.0% for the year, above expectations for a 2.9% increase, ...

Be'ah Inks MoC with Raysut Cement, German Company to Devise Alternative Fuel ModelMuscat, 12 Feb (ONA) --- Oman Environmental Services Holding Company (Be'ah) today signed a memorandum of cooperation (MoC) with Raysut Cement Company and German company MVW to evaluate the feasibility of a waste-derived fuel production project and develop a sustainable business model for all stakeholders. The project will contribute to reducing waste and promoting the use of alternative energy in the heavy industries sector. The signing ceremony was held under the auspices of Dr. Mansoor bin Talib ...

OCCI Launches 14 Initiatives on Improving Business Environment Muscat, 12 Feb (ONA) --- Acting in cooperation with Oman Vision 2040 Implementation Follow-up Unit, the Oman Chamber of Commerce and Industry (OCCI) today launched14 initiatives on improving the business environment and partnership for developing the governorates economically and expanding the base of economic diversification. The initiatives were launched as part of a "Strategic Approaches Developmental Session”. The closing ceremony of the session was attended by Dr. Khamis bin Saif Al Jabri, Head of the Oman ...

MSX Drops 36 Points Muscat, 12 Feb (ONA) --- Muscat Stock Exchange (MSX) general index (30) today dropped (36.1) points, comprising a decline by (0.799%) to close at (4486.35) points, compared to the last session, which stood at (4522.49) points. The trading value today stood at (RO 6,047,000), comprising a rise by (64.4%), compared to the last session, which stood at (RO 3,678,905). The report released by MSX pointed out that the market value went down by (0.348%) to reach about (RO 27.36) billion. The report added that the value of shares bought by non-Omani investors ...

Minister of Finance Receives Kyrgyz Foreign Minister Muscat, 12 Feb (ONA) --- Sultan bin Salim Al Habsi, Minister of Finance received in his office today Jeenbek Kulubaev, Minister of Foreign Affairs of the Kyrgyz Republic. The two sides explored ways of boosting economic and financial cooperation between the two countries and discussed issues of mutual interest. They also exchanged views on economic and financial developments. --- ...

Oman Oil Price Drops 25 Cents Muscat, 12 Feb (ONA) --- Oman oil price (April delivery 2025) today reached 78.93 US Dollars, comprising a drop by 25 cents, compared to the price of yesterday “Tuesday” which was 79.18 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 ...

Gold Declines After All-time High RecordSingapore, 12 Feb (ONA) --- Gold prices fell today after reaching an all-time high in the previous session. Spot gold fell 0.1% to $2,895.38 per ounce, after hitting a peak of $2,942.70 earlier in the session. US gold futures also decreased by 0.4%, reaching $2922.40. As for other precious metals, silver remained stable at $31.83 per ounce in spot transactions, with little change in platinum, which stood at $983.15. Meanwhile, palladium rose by 0.3% to $978.75.--- ...

Oil Prices Fall after 3-Day GainBeijing, 12 Feb (ONA) --- Oil prices fell today, following gains made over the past three days. Brent futures fell 36 cents, or 0.47%, to $76.64 a barrel, while US West Texas Intermediate (WTI) crude declined 37 cents, or 0.5%, to $72.95 a barrel. The drops snapped a three-day streak of gains for prices with Brent climbing 3.6% while WTI rose 3.7%.--- ...

Oman Newspaper to Issue New Business Supplement Muscat, 11 Feb (ONA) --- Oman Newspaper will publish the first edition of a new Business Supplement this Thursday (13 February 2025). The new edition aims to provide in-depth analyses of local and global economic issues, and to shed light on the economic transformations witnessed by the Sultanate of Oman and the region. This supplement responds to the growing need to discuss economic issues from an intellectual and strategic perspective, going beyond daily news to analyzing major trends and their impact on the ...

Omani Companies Agreements in LEAP 2025 Reach RO 9 Million Riyadh, 11 Feb (ONA) ---- On the third day of Oman’s participation in LEAP 2025, which is being held in Riyadh, Saudi Arabia, from February 9 to 12, four new cooperation agreements were signed between Omani tech startups and international companies, with a total value of approximately RO 4.3 million. This follows agreements worth RO 4.5 million signed on the first and second days of the conference, bringing the total value of agreements signed by Omani companies with international firms at LEAP 2025 close to RO 9 ...

MSX Drops 10 Points Muscat, 11 Feb (ONA) --- Muscat Stock Exchange (MSX) general index (30) today dropped (10.6) points, comprising a decline by (0.234%) to close at (4522.49) points, compared to the last session, which stood at (4533.08) points. The trading value today stood at (RO 3,678,905), comprising a rise by (74.6%), compared to the last session, which stood at (RO 2,106,848). The report released by MSX pointed out that the market value went down by (0.054%) to reach about (RO 27.46) billion. The report added that the value of shares bought by non-Omani investors ...

Postpaid Mobile Phone Subscriptions Increase By 33.9 Percent in December 2024 Muscat, 11 Feb (ONA) --- Postpaid mobile phone subscriptions increased by 33.9 percent by the end of December 2024 compared to the same period last year, reaching 2,391,951 subscriptions. Statistics issued by the National Centre for Statistics and Information (NCSI) showed a decrease in the number of prepaid mobile phone subscriptions by 1.6 percent to reach 5,114,919 subscriptions. Among these subscriptions, 3,889, 244 from operators and 1,225,675 from resale, which represented an increase in ...

China's Auto Exports Up 23 Percent in 2024 Beijing, 11 Feb (ONA) --- China's automobile exports maintained growth momentum in 2024, data from the China Passenger Car Association (CPCA) showed today. China shipped a total of 6.41 million vehicles overseas last year, surging by 23 percent year on year, according to the CPCA. In December 2024, the auto exports soared by 25 percent year on year to hit 570,000 units, the association said. Russia, Mexico, and the United Arab Emirates (UAE) were the leading countries as China's vehicle export destinations, while ...

Oman Oil Price Rises 1.17 US Dollars Muscat, 11 Feb (ONA) --- Oman oil price (April delivery 2025) today reached 79.18 US Dollars, comprising a rise by 1.17 US Dollars, compared to the price of yesterday “Monday” which was 78.01 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/AH ...

Gold Prices Hit Record High After New US TariffsNew York, 11 Feb (ONA) —- Gold prices hit a record high today as investors flocked to safe-haven assets after US tariffs on steel and aluminum imports. Spot gold rose 1.1% at $2,939.80 per ounce, after hitting an all-time high of $2,942.70 in the previous session. US gold futures also rose 1.1% to $2,966 today. Among other metals, spot silver rose by 0.4% to $32.16 per ounce, platinum fell by 0.4% to $989.50, and palladium gained 0.4% to $986.97. US President Donald Trump signed two new executive orders that ...

Omani, International Tech Companies Sign Agreements Worth Approximately $12 Million in RiyadhRiyadh, 10 Feb (ONA) —— On the second day of Oman’s participation in LEAP 2025, which is being held in Riyadh, Saudi Arabia, from February 9 to 12, nine cooperation agreements were signed between Omani startup tech companies and international firms, with a total value exceeding $10 million.The agreements were signed at the Oman Pavilion in the presence of Dr. Ali Amer Al Shidhani, Undersecretary for Communications and Information Technology at the Ministry of Transport, Communications, and ...

Omani-Brunei Joint Committee Explores Means of Boosting CooperationMuscat, 10 Feb (ONA) ——The Omani-Brunei Joint Committee held its fourth meeting in Muscat today to discuss means of enhancing cooperation between the two countries in the economic, investment and cultural fields.The Omani side was chaired by Dr. Saleh Said Massan, Undersecretary of the Ministry of Commerce, Industry and Investment Promotion for Commerce and Industry, while the Brunei side was chaired by Dr. Hajah May Fa’ezah binti Haji Ahmad Ariffin, Permanent Secretary (Economy) at the Ministry of Finance and Economy, ...