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Economy
Oman Oil Price Declines 2.71 US Dollars

Oman Oil Price Declines 2.71 US DollarsMuscat, 21 Nov (ONA) --- Oman oil price (January Delivery 2023) today reached 81.46 US Dollars, comprising a drop by 2.71 US Dollars from the price of last (Friday) which stood at 84.17 US Dollars.The average price of Oman oil (November Delivery 2022) has stabilized at 90.80 US Dollars per barrel, thus 6.20 US Dollars per barrel lower than October Delivery 2022. --- Ends/Thuraiya/Anas ...

Producer Price Index Up By 36.6pc over 3rd Quarter in 2022

Producer Price Index Up By 36.6pc over 3rd Quarter in 2022Muscat, 20 Nov (ONA) --- The producer price index for the third quarter of 2022, posted an increase of 36.6%, compared to the corresponding period in 2021.The quarterly survey, issued by the National Centre for Statistics and Information (NCSI), shows that oil and gas prices took the lead by scoring a 44.1% hike, while non-oil products increased by 2.9%.The rise in prices of oil and gas products was due to a 48% growth in crude oil and natural gas, coupled with a 21.8% surge in prices of refined oil products. The rise in the ...

Bylaw Issued on Regulating Offices for Endorsement of Foreign Investors’ Applications

Bylaw Issued on Regulating Offices for Endorsement of Foreign Investors’ ApplicationsMuscat, 20 Nov (ONA) --- The Ministry of Commerce, Industry and Investment Promotion issued Ministerial Decision No. 574/2022 promulgating the “Bylaw on Regulating Offices for Endorsement of Foreign Investors’ Applications.The bylaw seeks to establish an investment-attractive climate by facilitating procedures on obtaining approvals, permits and licenses for investment projects. It also aims to attract quality investments that contribute to the growth of the domestic product, besides creating ...

MSX Declines 4 Points

MSX Declines 4 Points Muscat, 20 Nov (ONA) --- Muscat Stock Exchange (MSX) general index (30) today lost (4.2) points, comprising a drop by (0.09%) to close at (4481.84) points, compared to the last session, which stood at (4486.06) points. The trading value today stood at (RO 806,000), comprising a decline by (64.6%), compared to the last session, which stood at (RO 2,274,359). The report released by MSX pointed out that the market value went down by (0.047%) to reach about (RO 22.98) billion. The report added that the value of shares bought by non-Omani investors ...

MSX Inks MoU to Develop Investor Relations Activities

MSX Inks MoU to Develop Investor Relations Activities Muscat, 20 Nov (ONA) --- Muscat Stock Exchange (MSX) signed today a memorandum of understanding (MoU) with the Middle East Investor Relations Association (MEIRA) to develop investor relations activities and enhance transparency. The MoU was signed by Haitham Salim Al Salmi, CEO of MSX and John Gollifer, General Manager of MEIRA. Al Salmi said that MSX is a member at MEIRA. The MoU, he added, aims to prepare representatives of investor relations in companies listed on MSX. The collaboration between MSX and MEIRA is ...

MSX Gains 44 Points

MSX Gains 44 Points Muscat, 17 Nov (ONA) --- Muscat Stock Exchange (MSX) general index (30) today gained (44.5) point, comprising a rise by (1%) to close at (4486.06) points, compared to the last session, which stood at (4441.52) points. The trading value today stood at (RO 2,274,359), comprising a drop by (1.3%), compared to the last session, which stood at (RO 2,303,853). The report released by MSX pointed out that the market value went up by (0.319%) to reach about (RO 23) billion. The report added that the value of shares bought by non-Omani investors reached ...

Oman Participates in ESCWA Statistics Committee Session

Oman Participates in ESCWA Statistics Committee SessionBeirut, 17 Nov (ONA) --- Represented by the National Centre for Statistics and Information (NCSI), Oman took part in the 15th session of the statistics committee of the Economic and Social Commission for Western Asia (ESCWA), held here today.The session discussed the progress made in implementing statistical tasks of the previous session, as well as technical cooperation and activities of the Commission’s advisory panels.The Committee took note of efforts to monitor progress in the 2030 Agenda for Sustainable Development ...

Salalah Port Receives Two Cruise Ships

Salalah Port Receives Two Cruise Ships Salalah, 17 Nov (ONA) --- Salalah Port today received two cruise ships “Mein Schiff 5” and “Seven Seas Explorer” with 4,473 passengers onboard, of them 2,999 are tourists from various nationalities. The tourists’ programmes of the two cruise ships included tours to major archeological, tourism and historic landmarks in the Governorate of Dohar, besides visiting beaches and traditional markets in Salalah. Moreover, the number of cruise ships arriving in Oman is increasing annually due to the country’s prominent location ...

Oman Oil Price Declines 83 Cents

Oman Oil Price Declines 83 CentsMuscat, 17 Nov (ONA) --- Oman oil price (January Delivery 2023) today reached 87.20 US Dollars, comprising a drop by 83 cents from the price of yesterday (Wednesday) which stood at 88.03 US Dollars.The average price of Oman oil (November Delivery 2022) has stabilized at 90.80 US Dollars per barrel, thus 6.20 US Dollars per barrel lower than October Delivery 2022. --- Ends/Thuraiya/Anas ...

IMF Issues 2022 Article IV Consultations Staff Report for Oman

IMF Issues 2022 Article IV Consultations Staff Report for Oman Muscat, 16 Nov (ONA) --- The International Monetary Fund (IMF) has published the Oman Staff Report for the 2022 Article IV Consultations after the approval of the IMF Executive Board, following the conclusions of the IMF staff visit. In the report, the IMF commended COVID-19 containment measures and the substantial efforts and policy actions taken to foster health and economic recovery, which have yielded tangible results and supported economic recovery. The IMF also noted that ongoing increased oil revenues, ...

Oman Marks World GIS Day

Oman Marks World GIS Day Muscat, 16 Nov (ONA) --- The Sultanate of Oman, represented by the Ministry of Housing and Urban Planning, marked the World Geographic Information Systems (GIS) Day which falls on 16 November every year. A number of public and private sector establishments participated in the event. The ministry reviewed the most prominent findings in the field of spatial science technology and digital information infrastructure developed in line with the requirements of Oman’s modern urban expansion strategy. The strategy seeks to ensure sustainability of urban ...

MSX Closes at 4441 Points

MSX Closes at 4441 Points Muscat, 16 Nov (ONA) --- Muscat Stock Exchange (MSX) general index (30) today gained (0.5) point, comprising a rise by (0.01%) to close at (4441.52) points, compared to the last session, which stood at (4440.99) points. The trading value today stood at (RO 2,303,853), comprising a drop by (15.9%), compared to the last session, which stood at (RO 2,740,360). The report released by MSX pointed out that the market value went up by (0.006%) to reach about (RO 22.92) billion. The report added that the value of shares bought by non-Omani investors ...

Oman Oil Price Rises 1.29 US Dollar

Oman Oil Price Rises 1.29 US Dollar Muscat, 16 Nov (ONA) --- Oman oil price (January Delivery 2023) today reached 88.03 US Dollars, comprising a rise by 1.29 US Dollar from the price of yesterday (Tuesday) which stood at 86.74 US Dollars. The average price of Oman oil (November Delivery 2022) has stabilized at 90.80 US Dollars per barrel, thus 6.20 US Dollars per barrel lower than October ...

Oman Posts More Than 93% Rise in Number of Visitors

Oman Posts More Than 93% Rise in Number of Visitors Muscat, 15 Nov (ONA) ---Data issued by ForwardKeys showed that Oman registered a 93% increase in the number of international visitors to tourist destinations, since the start of September 2022 until now, compared to the corresponding period last year. The majority of tourists hailed from European and Middle Eastern countries, while the number of visitors from regional markets grew by more than 156%, according to the latest data on airline ticket booking, notably for the months of November and December ...

UFI Global Congress Kicks off

UFI Global Congress Kicks off Muscat, 15 Nov (ONA) --- The global congress of the Global Association of the Exhibition Industry (UFI) in its 89th edition kicked off at Oman Convention and Exhibition Centre (OCEC) today. The several-day event is participated by more than 50 international experts in the exhibition industry. The conference seeks to expand debate on the future, challenges and opportunities of the exhibition industry, as well as the leading trends in this sector. It also explores the sustainability of the exhibition industry, the integration of related ...

MSX Declines 19 Points

MSX Declines 19 PointsMuscat, 15 Nov (ONA) --- Muscat Stock Exchange (MSX) general index (30) today lost (19.6) points, comprising a drop by (0.44%) to close at (4440.99) points, compared to the last session, which stood at (4460.59) points.The trading value today stood at (RO 2,740,360), comprising a surge by (11.8%), compared to the last session, which stood at (RO 2,452,015).The report released by MSX pointed out that the market value went down by (0.386%) to reach about (RO 22.92) billion.The report added that the value of shares bought by non-Omani investors reached ...

Annual Leadership Conference Highlights Organizational Potentials to Boost Investors’ Confidence

Annual Leadership Conference Highlights Organizational Potentials to Boost Investors’ Confidence Muscat, 15 Nov (ONA) --- The 12th edition of the Annual Leadership Conference kicked off here today under the theme “Agile Leadership: Current Responses to Dynamic World Changes”. The conference aims to highlight organizational potentials and capabilities that boost the confidence of investors. The two-day conference is organized by the Ministry of Labour. The opening ceremony was held under the auspices of HH Sayyid Dr. Fahd Al Julanda Al Said, Vice Chancellor of Sultan ...

NEP Signs Cooperation Agreement with Behar Platform

NEP Signs Cooperation Agreement with Behar Platform Muscat, 15 Nov (ONA)—The National Employment Programme (NEP) today signed a Cooperation Agreement with Behar Market platform to enhance employment opportunities for Omani jobseekers in the fisheries sector. The pact was signed by Eng. Zahir Ahmed Al Kindi, Technical Director of NEP, and Mohammed Mansoor Al Husseini, Founding Partner and board member at Behar Market. The agreement constitutes a step forward in NEP’s efforts to provide sustainable solutions for the employment of Omani youth and to raise their ...

ITHCA Group, Oman LNG Ink MoU to Provide Oracle’s ERP Cloud Services Infrastructure

ITHCA Group, Oman LNG Ink MoU to Provide Oracle’s ERP Cloud Services Infrastructure Muscat, 15 Nov (ONA) --- Oman LNG and ITHCA Group signed a Memorandum of Understanding (MoU) on the provision of Oracle’s ERP Cloud services infrastructure for Oman LNG. The MoU covers different aspects of the strategic partnership between Oman LNG and ITCHA Group. It sets up the foundations of establishing a cloud-based system in Oman LNG for its future needs and requirements. The MoU will ultimately help to transform the company’s current Enterprise Management Planning (ERP) ...

Oman Air Celebrates Inaugural Flight to Phuket

Oman Air Celebrates Inaugural Flight to Phuket Muscat, 15 Nov (ONA) ---- Oman Air, the national carrier of the Sultanate of Oman, inaugurated its highly anticipated route to Phuket, celebrating the first flight with a ceremony at its First and Business Class check-in counter at Muscat International Airport today. The airline has introduced four direct flights a week to the popular resort island, which boasts many of Thailand’s most famous and beautiful locations. Guests can enjoy their holiday from the moment they fly with Oman Air’s award-winning on-board amenities, ...

Tender Results Issue No. 167 of Government Treasury Bills Issued

Tender Results Issue No. 167 of Government Treasury Bills Issued Muscat, 15 Nov (ONA) --- A tender of Government Treasury Bills, issue number 167, worth RO 5 million was issued this week. Treasury Bills are short-term highly secured financial instruments issued by the Ministry of Finance, and they provide licensed commercial banks the opportunity to invest their surplus funds. The Central Bank of Oman (CBO) acts as the Issue Manager and provides theadded advantage of ready liquidity through discounting and repurchase facilities (Repo). The results of the said issue are as ...

Oman Oil Price Declines 4.26 US Dollars

Oman Oil Price Declines 4.26 US DollarsMuscat, 15 Nov (ONA) --- Oman oil price (January Delivery 2023) today reached 86.74 US Dollars, comprising a drop by 4.26 US Dollars from the price of yesterday (Monday) which stood at 91 US Dollars.The average price of Oman oil (November Delivery 2022) has stabilized at 90.80 US Dollars per barrel, thus 6.20 US Dollars per barrel lower than October Delivery 2022. --- Ends/Thuraiya/Anas ...

OQ Group’s Assets Exceed USD 31.6 Billion

OQ Group’s Assets Exceed USD 31.6 Billion Muscat, 14 Nov (ONA) --- The total assets value of OQ, a global integrated energy group, exceeded USD 31.6 billion. The Group’s assets make it one of the largest energy companies in the Sultanate of Oman. The operations and activities of OQ cover the entire value chain; starting from exploration and production, operations of refineries and petrochemicals sector, to the added value of oil and gas products, as well as trading and marketing. The production capacity for Mina Al Fahl Refinery increased from 50,000 barrels per day ...

Finance, Economy Ministries Review Draft State Budget for 2023

Finance, Economy Ministries Review Draft State Budget for 2023 Muscat, 14 Nov (ONA) --- The Ministry of Finance and the Ministry of Economy reviewed the draft state’s general budget for 2023 before the State Council while hosting Sultan Salim Al Habsi, Minister of Finance, and Dr. Said Mohammed Al Saqri, Minister of Economy, in the presence of Sheikh Abdul Malik Abdullah Al Khalili, Chairman of the State Council. The meeting touched on several topics that covered developments in the global economy, as well as developments in the local economy for 2022. The meeting also ...

Introductory Meetings for OCCI Board Membership Candidates Began

Introductory Meetings for OCCI Board Membership Candidates Began Muscat, 14 Nov (ONA) --- Introductory meetings of candidates for membership in Oman Chamber of Commerce and Industry (OCCI) Board of Directors (2022-2026) began at the Governorate of Muscat. The meeting aims to allow the candidates to present their election programmes and future plans. The introductory meetings’ inaugural ceremony was held under the auspices of Dr. Saleh Said Masn, Commerce and Industry Undersecretary, Head of the Elections Committee at OCCI. OCCI’s Elections Committee announced the final ...

Local Sales of Refineries Rise 18.2pc in Oman

Local Sales of Refineries Rise 18.2pc in OmanMuscat, 14 Nov (ONA) --- The total local sales of refineries in the Sultanate of Oman increased by 18.2% till the end of September 2022 compared to the corresponding period in 2021, according to the latest data issued by the National Centre for Statistics and Information (NCSI). Oman’s production of petrol (M-95) rose by 8.8% to stand at 11,414,100 barrels compared to the same period in 2021. Sales of M-95 fuel dropped by 0.1% to reach 9,498,700 barrels, while exports reached 2,745,900 barrels, comprising a surge by 93.1% till the end ...

Oman Air Inaugurates Future Leaders Commercial Graduate Programme

Oman Air Inaugurates Future Leaders Commercial Graduate Programme Muscat, 14 Nov (ONA) ---- Oman Air, the national airline of Oman, has officially inaugurated its highly anticipated Future Leaders Commercial Graduate Programme. A special induction ceremony was held for the 11 Omani graduates at the Crowne Plaza Muscat under the auspices of Nasr Amer Al Hosni, Undersecretary of the Ministry of Labour for Labour. During the event, the candidates were addressed by Oman Air’s Chief Executive Officer, Abdulaziz Al Raisi, and members of senior ...

MSX Declines 11 Points

MSX Declines 11 PointsMuscat, 14 Nov (ONA) --- Muscat Stock Exchange (MSX) general index (30) today lost (11.3) points, comprising a drop by (0.25%) to close at (4460.59) points, compared to the last session, which stood at (4471.87) points.The trading value today stood at (RO 2,452,015), comprising a surge by (26.4%), compared to the last session, which stood at (RO 1,940,239).The report released by MSX pointed out that the market value went down by (0.138%) to reach about (RO 23.01) billion.The report added that the value of shares bought by non-Omani investors reached ...

AIDAcosma Cruise Ship Visits Port Sultan Qaboos

AIDAcosma Cruise Ship Visits Port Sultan Qaboos Muscat, 14 Nov (ONA) --- Port Sultan Qaboos today received the Italian cruise ship “AIDAcosma” with 5,800 tourists onboard from various nationalities. Khalid Mohammed Al Azri, Director of Tourism Patterns at the Ministry of Heritage and Tourism said that receiving cruise ships in Oman’s ports consolidates the country’s position as a leading unique destination in the region. Al Azri pointed out that “AIDAcosma” is visiting the region for the first time. He added that during the current season, Port Sultan ...

Oman Oil Price Stabilizes

Oman Oil Price Stabilizes Muscat, 14 Nov (ONA) --- Oman oil price (January Delivery 2023) today stabilized at 91 US Dollars, which is the same price of last (Friday).The average price of Oman oil (November Delivery 2022) has stabilized at 90.80 US Dollars per barrel, thus 6.20 US Dollars per barrel lower than October Delivery 2022. --- Ends/Thuraiya/AG ...