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Oman Oil Price Rises 1.70 US Dollars

Oman Oil Price Rises 1.70 US Dollars Muscat, 9 May (ONA) --- Oman oil price (July delivery 2024) today reached 84.68 US Dollars, comprising a rise by 1.70 US Dollars compared to the price of yesterday (Wednesday), which stood at 82.89 US Dollars. The average price of Oman oil (May delivery 2024) has stabilized at 78.49 US Dollars per barrel, thus 3.74 US Dollars per barrel lower than April ...

Forum Held to Enhance Competitiveness of National Products, Services at Hotel Establishments

Forum Held to Enhance Competitiveness of National Products, Services at Hotel EstablishmentsMuscat, 8 May (ONA) --- Activities of a forum titled “Enhancing the Competitiveness of National Products and Services in Hotel Establishments” kicked off today.Organized by the Ministry of Heritage and Tourism, the two-day forum looks into various means of empowering domestic products and services, including policies and laws related to government procurements.The opening ceremony was held under the auspices of Salim Mohammed Al Mahrouqi, Minister of Heritage and TourismThe forum saw a ...

MSX Drops 21 Points

MSX Drops 21 PointsMuscat, 8 May (ONA) --- Muscat Stock Exchange (MSX) general index (30) today dropped (21.1) points, comprising a decline by (0.44%) to close at (4757.53) points, compared to the last session, which stood at (4778.59) points.The trading value today stood at (RO 2,652,098), comprising a drop by (17.6%), compared to the last session, which stood at (RO 3,216,840).The report released by MSX pointed out that the market value went down by (0.113%) to reach about (RO 24.37) billion.The report added that the value of shares bought by non-Omani investors reached ...

Omani Trade Team Studies Singaporean Experience in Entrepreneurship, Food Security

Omani Trade Team Studies Singaporean Experience in Entrepreneurship, Food SecuritySingapore, 8 May (ONA) --- A delegation from Oman Chamber of Commerce and Industry (OCCI) currently visiting the Republic of Singapore was briefed today about the Singaporean experience in the fields of entrepreneurship and food security.The briefing took place during the Omani delegation’s meeting with officials of the Small and Medium Enterprises (SME) Support institution affiliated to the Singaporean Ministry of Commerce. During the meeting, the two sides discussed standard mechanisms to achieve ...

Oman Air Receives Cirium Award for Highest On-Time Performance in Middle East, Africa for 2023

Oman Air Receives Cirium Award for Highest On-Time Performance in Middle East, Africa for 2023 Dubai, 8 May (ONA) --- Oman Air bagged the Cirium award for Best On-Time Performance (OTP), for which it ranked highest in the Middle East and Africa during 2023. Capt. Nasser Ahmed Al Salmi, Oman Air’s Chief Operating Officer, accepted the award from Cirium Chief Executive Officer, Jeremy Bowen, during the Arabian Travel Market (ATM), Dubai. Commenting on the occasion, Capt. Nasser Al Salmi said, “Achieving the highest on-time performance rating amongst our regional peers is ...

Samail Industrial City Inks 3 Investment Pacts Worth Over RO 8 Million

Samail Industrial City Inks 3 Investment Pacts Worth Over RO 8 Million Samail, 8 May (ONA) --- Samail Industrial City, an affiliate of the Public Establishment for Industrial Estates “Madayn”, signed three new investment contracts to localise projects in the fields of water desalination, building materials, and plastics, with a total investment value exceeding RO 8 million. The three projects will cover a total area of approximately 50,000 sqm. The new projects aim to generate job opportunities for national cadres and supply both local and international markets with ...

Oman Oil Price Declines 1.10 US Dollars

Oman Oil Price Declines 1.10 US Dollars Muscat, 8 May (ONA) --- Oman oil price (July delivery 2024) today reached 82.89 US Dollars, comprising a drop by 1.10 US Dollars from the price of yesterday (Tuesday) which stood at 84.08 US Dollars. The average price of Oman oil (May delivery 2024) has stabilized at 78.49 US Dollars per barrel, thus 3.74 US Dollars per barrel lower than April ...

Heritage Ministry Unveils Packages on Sur As Capital of Tourism 2024

Heritage Ministry Unveils Packages on Sur As Capital of Tourism 2024Dubai, 7 May (ONA) --- As part of its participation in the Arabian Travel Market (ATM) expo in Dubai, the Ministry of Heritage and Tourism today announced the tourism packages of the Wilayat of Sur, the Capital of Arab Tourism 2024.Dr. Walid Ali El Hennawy, Assistant Secretary-General for Events and Media at the Arab Tourism Organization, expressed the hope that the Wilayat of Sur would become a major destination for Arab and international tourism. He added that the wilayat boasts a range of diverse marine and ...

Oman, Brazil Explore Means of Enhancing Tourism Cooperation

Oman, Brazil Explore Means of Enhancing Tourism Cooperation Muscat, 7 May (ONA) --- Salim Mohammed Al Mahrouqi, Minister of Heritage and Tourism today received in his office Celso Sabino Oliveira, Minister of Tourism of the Federative Republic of Brazil and his accompanying delegation. The Minister’s visit to Oman coincides with marking the 50th anniversary of establishing diplomatic relations between Oman and Brazil. During the meeting, the two officials discussed means of boosting cooperation and relations in the tourism field. The meeting was attended by officials ...

MSX Drops 13 Points

MSX Drops 13 PointsMuscat, 7 May (ONA) --- Muscat Stock Exchange (MSX) general index (30) today dropped (13.1) points, comprising a decline by (0.27%) to close at (4778.59) points, compared to the last session, which stood at (4791.67) points.The trading value today stood at (RO 3,216,840), comprising a rise by (39.5%), compared to the last session, which stood at (RO 2,305,495).The report released by MSX pointed out that the market value went down by (0.059%) to reach about (RO 24.40) billion.The report added that the value of shares bought by non-Omani investors reached ...

US Fed Reluctance to Cut Rates Makes Easing Harder for Emerging Markets

US Fed Reluctance to Cut Rates Makes Easing Harder for Emerging Markets Washington, 7 May (ONA) --- The monetary policy pursued by the US Federal Reserve is casting its shadow on global markets, including emerging markets, after the US central bank's recent decision to keep high interest rates unchanged. Federal Reserve Chairman Jerome Powell had previously acknowledged the impact of US monetary policy on global markets, despite noting that the current cycle does not cause the same amount of turmoil as previous cycles. The Wall Street Journal said that "Central banks in ...

Oman, Singapore Explore Augmenting Cooperation in Industrial, IT Fields

Oman, Singapore Explore Augmenting Cooperation in Industrial, IT Fields Singapore, 7 May (ONA) --- A delegation from Oman Chamber of Commerce and Industry (OCCI), met in Singapore's capital city, with several specialists in the fields of information technology and representatives of Singapore’s business and manufacturing federations. The meeting was attended by Anwar Ahmed Muqaibal, Charge d’affaires of the Sultanate of Oman’s embassy in the Republic of Singapore. The delegation visited a company in Singapore’s science park. The company specializes in digital ...

Omani-Brazilian Investment Forum Marks Diplomatic Ties, Economic Cooperation

Omani-Brazilian Investment Forum Marks Diplomatic Ties, Economic CooperationMuscat, 7 May (ONA) --- The Sultanate of Oman and the Federative Republic of Brazil today celebrated the 50th anniversary of establishing diplomatic relations by organizing the Omani-Brazilian Investment Forum, which began in Muscat.The opening ceremony was held under the auspices of Salim Mohammed Al Mahrouqi, Minister of Heritage and Tourism. It was attended by representatives of private sector companies in both countries.The two-day forum focused on investment, clean energy, re-export, heavy ...

Hotels Revenue in Oman Exceed RO 71.9 million by End of March 2024

Hotels Revenue in Oman Exceed RO 71.9 million by End of March 2024 Muscat, 7 May (ONA) --- The revenues of 3-5-star hotels in the Sultanate of Oman reached RO 71,907,000 by the end of March 2024, up by 8.3% compared to RO 66,395,000 during the corresponding period in 2023, according to statistics issued by the National Centre for Statistics and Information (NCSI). The data indicate that the rise is attributed to the increase in the total number of hotel guests by 12.1% to reach 598,128 by the end of March 2024 compared to 533,790 by the end of March 2023. Meanwhile, accompany ...

OPAZ Delegation Explores Means of Boosting Economic Partnerships with China

OPAZ Delegation Explores Means of Boosting Economic Partnerships with China Beijing 7 May (ONA) --- A delegation from the Public Authority for Special Economic Zones and Free Zones (OPAZ) held several meetings in Beijing with a number of Chinese businesspeople from companies operating in the fields of green industries, iron, technology, modern information technology and chemicals. The OPAZ delegation is headed by Eng. Ahmed Hassan Al Dheeb, Deputy Chairman of OPAZ. The meetings came within the framework of attracting and localizing quality investments in Oman. ...

Oman Oil Price Rises 15 Cents

Oman Oil Price Rises 15 CentsMuscat, 7 May (ONA) --- Oman oil price (July delivery 2024) today reached 84.08 US Dollars, comprising a rise by 15 cents compared to the price of yesterday (Monday), which stood at 83.93 US Dollars.The average price of Oman oil (May delivery 2024) has stabilized at 78.49 US Dollars per barrel, thus 3.74 US Dollars per barrel lower than April delivery 2024. --- Ends/Thuraiya/Anas ...

Oman Participates in Arabian Travel Market 2024 in Dubai

Oman Participates in Arabian Travel Market 2024 in Dubai Dubai, 6 May (ONA) --- The Sultanate of Oman is taking part in the 31st edition of the Arabian Travel Market (ATM) 2024, the leading global event for the travel and tourism sector, which kicked off earlier today under the theme “Empowering Innovation - Transforming Travel through Entrepreneurship”. The 4-day event is organized in Dubai, United Arab Emirates (UAE). Oman’s delegation is headed by Azzan Qassim Al Busaidi,Undersecretary of the Ministry of Heritage and Tourism for Tourism. Oman is represented at the ...

Gold Rises on Fed Rate Cut Hopes

Gold Rises on Fed Rate Cut Hopes Singapore, 6 May (ONA) --- Gold prices ticked higher today, as expectations that the Federal Reserve will start cutting interest rates later in the year and tensions in the Middle East lifted bullions appeal. Spot gold rose 0.3% to $2,309.24 per ounce. US gold futures gained 0.5% to $2,318.80 per ounce. Among other precious metals, spot silver was up 1.3% to $26.89 per ounce. Platinum lost nearly 0.7% to $948.97, and palladium inched up 0.1% to $946.58. --- Ends/Khalid ...

Saudi Arabia to Host 3rd Global Project Management Forum in June

Saudi Arabia to Host 3rd Global Project Management Forum in June Riyadh, 6 May (ONA) --- The third Global Project Management Forum (GPMF) is set to kick off in the capital Riyadh on 2 June 2024, focusing on the theme "We Achieve the Dream: Leadership, Empowerment, Sustainability." The two-day event will be a pivotal platform for industry leaders, project managers, and decision-makers worldwide. The GPMF will delve into a wide array of topics pertaining to project management across various sectors. It aims to foster collaboration, share insights, and ...

China's Central Bank Injects 2 Billion Yuan into Banking System

China's Central Bank Injects 2 Billion Yuan into Banking System Beijing, 6 May (ONA) --- China's central bank conducted 2 billion yuan ($282 million) of seven-day reverse repos at an interest rate of 1.8% today. The move aims to keep liquidity reasonable and ample in the banking system, the People's Bank of China said in a statement, reported by China's News Agency (Xinhua). A reverse repo is a process in which the central bank purchases securities from commercial banks through bidding, with an agreement to sell them back in the future. --- Ends/Khalid ...

Oil Futures Rise on Middle East Tensions

Oil Futures Rise on Middle East Tensions Singapore, 6 May (ONA) --- Oil futures rose today over concerns of expanding tensions in the Middle East. Brent crude futures climbed 28 cents, or 0.3%, to $83.24 a barrel, while US West Texas Intermediate (WTI) crude futures were at $78.40 a barrel, up 29 cents, or 0.4%. Last week, both futures contracts posted their steepest weekly loss in three months with Brent falling more than 7% and WTI down 6.8%. --- Ends/Khalid ...

MSX Drops 13 Points

MSX Drops 13 Points Muscat, 6 May (ONA) --- Muscat Stock Exchange (MSX) general index (30) today dropped (13.6) points, comprising a decline by (0.28%) to close at (4791.67) points, compared to the last session, which stood at (4805.25) points. The trading value today stood at (RO 2,305,495), comprising a decrease by (38.98%), compared to the last session, which stood at (RO 3,778,002). The report released by MSX pointed out that the market value went down by (0.023%) to reach about (RO 24.41) billion. The report added that the value of shares bought by non-Omani ...

Sharia Index Forum Reviews Prospects of Investment Compatible with Islam

Sharia Index Forum Reviews Prospects of Investment Compatible with IslamMuscat, 6 May (ONA) --- The Sharia Index Forum, organized by Muscat Stock Exchange (MSX) in cooperation with Alizz Islamic Bank, opened today at Oman Convention and Exhibition Centre (OCEC). The forum discussed the economic prospects of the index and its role in promoting investments compatible with Islamic Sharia and attracting local and foreign investors.The opening of the forum was held under the auspices of Dr. Said Mohammed Al Saqri, Minister of Economy.The forum studied three working papers. The first dealt ...

NCSI Bags an Award in Digital Transformation Field

NCSI Bags an Award in Digital Transformation Field Kuwait, 6 May (ONA) --- The National Centre for Statistics and Information (NCSI)won the “Sheikh Salem Al Ali Al Sabah Informatics Award” in its 23rd edition. The NCSI won in the category of “Digital Transformation in Sustainable Development” for its electronic consensus of population, housing and establishments in 2020. The award was handed over to Dr. Khalifa Abdullah Al Barwani, CEO of the NCSI at Bayan Palace, Kuwait. Al Barwani emphasized that winning the award comes as an appreciation for NCSI efforts in the ...

Tender Results of Government Treasury Bills Worth RO 85.5 Million Issued

Tender Results of Government Treasury Bills Worth RO 85.5 Million Issued Muscat, 6 May (ONA) --- The total issuance of Government Treasury Bills amounted to RO 85.5 million. The value of the allotted Treasury bills amounted to RO 6.5 million, for a maturity period of 28 days. The average accepted price reached RO 99.647 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 4.59760% and 4.61387%, respectively. Whereas, the value of the allotted Treasury bills amounted to RO 17 million, for ...

Added Value of Private Enterprises Exceeds RO 8.8 Billion

Added Value of Private Enterprises Exceeds RO 8.8 Billion Muscat, 6 May (ONA) --- The total added value of active private enterprises in the Sultanate of Oman during the fourth quarter of 2023 amounted to RO 8,850.6 million, according to preliminary data issued by the National Center for Statistics and Information (NCSI). The contribution of the actual operating enterprises to the GDP at current prices during the fourth quarter of 2023 stood at 81.2%, compared to 84% for the fourth quarter of 2022. The added value of large enterprises amounted to RO 6,579.4 million, ...

Oman Oil Price Declines 9 Cents

Oman Oil Price Declines 9 Cents Muscat, 6 May (ONA) --- Oman oil price (July delivery 2024) today reached 83.93 US Dollars, comprising a drop by 9 cents from the price of last (Friday) which stood at 84.02 US Dollars. The average price of Oman oil (May delivery 2024) has stabilized at 78.49 US Dollars per barrel, thus 3.74 US Dollars per barrel lower than April delivery 2024. --- Ends/Anas ...

Record-breaking Edition of Arabian Travel Market Opens Tomorrow

Record-breaking Edition of Arabian Travel Market Opens Tomorrow Dubai, 5 May (ONA) --- Arabian Travel Market (ATM), the leading global event for the travel and tourism sector, will return to the Dubai World Trade Centre this week for its 31st edition. Taking place from 6 to 9 May 2024, over 41,000 attendees are expected to visit the annual trade show, which will feature 2,300 exhibitors from 165 countries. This year, ATM is centred on the theme ‘Empowering Innovation – Transforming Travel through Entrepreneurship’, spotlighting the pivotal role of start-ups and ...

MSX Gains 31 Points

MSX Gains 31 Points Muscat, 5 May (ONA) --- Muscat Stock Exchange (MSX) general index (30) today gained (31.9) points, comprising a rise by (0.67%) to close at (4805.25) points, compared to the last session, which stood at (4773.30) points. The trading value today stood at (RO 3,778,002), comprising a drop by (30.8%), compared to the last session, which stood at (RO 5,459,339). The report released by MSX pointed out that the market value went up by (0.370%) to reach about (RO 24.41) billion. The report added that the value of shares bought by non-Omani investors reached ...

Finance Minister Receives IMF Executive Director

Finance Minister Receives IMF Executive Director Muscat, 5 May (ONA) --- Sultan Salim Al Habsi, Minister of Finance received in his office today Dr. Mahmoud Mohieldin, Executive Director at the International Monetary Fund (IMF) to discuss several topics of common concern. The two sides highlighted international and local growth forecasts and the effects of public policies in tackling financial crises, as well as Oman’s efforts in green sustainable financing. --- Ends/Anas ...