News

MSX Loses 2 Points Muscat, 19 Jun (ONA) --- Muscat Stock Exchange (MSX) general index (30) today lost (2.7) points, comprising a drop by (0.06%) to close at (4679.97) points, compared to the last session, which stood at (4682.63) points. The trading value today stood at (RO 2,341,585), comprising a rise by (1.3%), compared to last session, which stood at (RO 2,310,640). The report released by MSX pointed out that the market value went up by (0.063%) to reach about (RO 23.74) billion. The report added that the value of shares bought by non-Omani investors reached (RO ...

Transport Ministry Launches Matrix for Prioritizing Road Projects Muscat, 18 Jun (ONA) ---- The Ministry of Transport, Communications and Information Technology has launched a matrix for identifying and prioritizing road projects. The aim is to devise a methodology with clear-cut and approved standards for improving the governance system of road construction and road maintenance projects. This matrix will serve as a guide in prioritizing the implementation, construction and restoration of roads, said the ministry, noting that the algorithm will facilitate decision-making prior to ...

Oman Ranks Among Top 10 Startup Attracting Countries in MENA Region Muscat, 18 Jun (ONA) --- The Sultanate of Oman ranked high among the top ten countries in the Middle East and North Africa (MENA) region in terms of markets that attract talents for establishing startups at affordable costs and the abundance of bold investment capital. Oman also stands out among the top 15 countries in the development and efficiency of startup ecosystems. The total market value of Omani startups exceeded $300 million, according to a report issued by Startup Genome Foundation, an international ...

Decision Updates Prohibited Activities for Foreign Investment Muscat, 18 Jun (ONA) ---- The Ministry of Commerce, Industry and Investment Promotion issued the ministerial decision No. (364/2023), amending some provisions of the ministerial decision No. (209/2020), which defined the list of activities in which foreign investment is prohibited while limiting them to Omani investors only. The decision stems from the partnership between the Ministry and the relevant government entities, as well as the governors of and the municipal councils, to update the list of activities in ...

MSX Rises Muscat, 18 Jun (ONA) --- Muscat Stock Exchange (MSX) general index (30) today gained (1.6) points, comprising a rise by (0.03%) to close at (4682.63) points, compared to the last session, which stood at (4681. 05) points. The trading value today stood at (RO 2,310,640), comprising a drop by (0.5%), compared to last session, which stood at (RO 2,323,372). The report released by MSX pointed out that the market value went up by (0.032%) to reach about (RO 23.73) billion. The report added that the value of shares bought by non-Omani investors reached (RO ...

Oman’s Power, Water Production Up by End of March 2023 Muscat, 18 Jun (ONA) ---- Preliminary statistics issued by the National Centre for Statistics and Information showed that the total volume of electricity production in Oman until the end of March 2023 grew to 7,483.1 gigawatts per hour (GWh), up by 0.1 percent, compared the corresponding period in 2022. A'Dakhiliyah Governorate took the lead in high producers of electricity. It posted a 330.8% growth to the volume of 7.8 GWh at the end of March 2023, compared to 1.8 GWh during the corresponding period in 2022. ...

CBO Keeps Repo Rate at 5.75pcMuscat, 15 Jun (ONA) —— The Central Bank of Oman (CBO) has decided to keep its repo rate for local banks fixed at 5.75%, following the U.S. Federal Reserve’s decision to leave its key policy rate unchanged at the range of (5.00% - 5.25%)The repo rate is the policy rate that allows commercial banks to acquire short term liquidity from the Central Bank as the lender of last resort.The CBO’s monetary policy target is to sustain and maintain its fixed exchange rate. This policy is aligned with the structure and nature of the Omani economy. There are a number ...

World Business Forum CEO Briefed About Investment Opportunities in Technology Start-ups Muscat, 15 Jun (ONA) ---- Ali Amer Al Shidhani, Undersecretary of the Ministry of Transport, Communications and Information Technology for Communications and Information Technology, received at his office today Baybars Altuntas, Executive Chairman of the World Business Angels Investment Forum (WBAF), who is currently visiting Oman. Al Shidhani and Altuntas explored avenues of cooperation between the WBAF and the departments lending support to Omani technology start-ups, notably in the field of ...

MSX Loses 6 Points Muscat, 15 Jun (ONA) --- Muscat Stock Exchange (MSX) general index (30) today lost (6.01) points, comprising a drop by (0.13%) to close at (4681.05) points, compared to the last session, which stood at (4687.06) points. The trading value today stood at (RO 2,323,372), comprising a drop by (68.3%), compared to last session, which stood at (RO 7,318,011). The report released by MSX pointed out that the market value went down by (0.011%) to reach about (RO 23.72) billion. The report added that the value of shares bought by non-Omani investors reached (RO ...

Oman Oil Price Drops 1.22 US Dollar Muscat, 15 Jun (ONA) --- Oman oil price (August delivery) today reached 73.32 US Dollars, comprising a drop by 1.22 US Dollar from the price of yesterday (Wednesday), which was 74.54 US Dollars. The average price of Oman oil (June delivery) has stabilized at 83.28 US Dollars per barrel, thus 4.79 US Dollars per barrel higher than May delivery. ---Ends/Thuraiya/AH ...

Oman Airports, Istanbul Airport’s IGA Academy Ink MoUMuscat, 15 Jun (ONA) ——Oman Airports, represented by the company’s institute, has signed a Memorandum of Understanding with Istanbul Airport’s IGA (Istanbul Grand Airport) Academy, with the purpose of activating greater mutual cooperation between the two parties, and enhancing aerial training quality.The MoU was signed by Oman Airports’ Hamood Salim Al Hajri, Senior Training Manager, and the Director of Istanbul Airport Academy’s Human Resources department.—— Ends/AH ...

Media Briefing Highlights Oman’s Participation in G20 Meetings in India Muscat, 14 Jun (ONA) ---- Oman’s Secretariat for the G20 Meetings and a number of relevant government departments organized a media briefing at the Diplomatic Club in Muscat today about the Sultanate of Oman's participation in the 18th round of G20 meetings, held in India, to forge solutions to international issues. The G20 meetings bring together leaders and operators who seek ways of enhancing dialogue between the largest industrialized countries with economies that support global ...

Muscat Stock Exchange Participates in HSBC GCC London Conference London, 14 Jun (ONA) ---- Muscat Stock Exchange (MSX) is currently taking part in HSBC GCC London Conference. The event aims to enhance cooperation and partnerships between the GCC stock exchanges and global investors, in addition to facilitating access to investment opportunities in the region. It discusses the most important developments and challenges for the future of financial markets and regulatory developments. The conference is a major event as it gathers large number of participants and includes many ...

Oman Chairs Meeting of GCC e-Commerce Working Group Muscat, 14 Jun (ONA) ---- The 3rd meeting of the GCC e-Commerce Working Group was held at the headquarters of the GCC Supreme Council’s Advisory Body in Muscat, under the chairmanship of Mubarak Mohammed Al Dohani, Director General of Commerce at the Ministry of Commerce, Industry and Investment Promotion. The meeting discussed outcome of the questionnaire for the government sector and the private sector, the challenges of e-commerce and monitoring all barriers to e-commerce among the GCC countries, in addition to ...

MSX Loses 9 Points Muscat, 14 Jun (ONA) --- Muscat Stock Exchange (MSX) general index (30) today lost (9.6) points, comprising a drop by (0.20%) to close at (4687.06) points, compared to the last session, which stood at (4696.64) points. The trading value today stood at (RO 7,318,011), comprising a surge by (158.4%), compared to last session, which stood at (RO 2,831,655). The report released by MSX pointed out that the market value went down by (0.095%) to reach about (RO 23.72) billion. The report added that the value of shares bought by non-Omani investors reached ...

Heritage Ministry Organizes Workshops in Riyadh to Showcase Oman’s Tourism Potentials Riyadh, 14 Jun (ONA) ---- Organized by the Ministry of Heritage and Tourism, promotion makeshift workshops on Oman’s tourism potentials kicked off in Riyadh today. After Riyadh, the organizers will tour the cities of Dammam and Jeddah. The workshops bring together 15 Omani companies and more than 150 companies from the Kingdom of Saudi Arabia. The participants include travel agencies, tour operators and representatives of hotels and tourism destinations in Oman. The events highlight ...

Oman Participates in Meeting on Implementation of UN Convention Against Corruption Vienna, 14 Jun (ONA) --- Represented by the State Audit Institution (SAI), the Sultanate of Oman is currently taking part in the 14th session of the Working Group on Review of the Implementation of the United Nations Convention Against Corruption (UNCAC), held at the UN headquarters in Vienna. The meeting is looking into mechanisms of implementation of the UNCAC, including ways to exchange information, practices and experiences gained in the process so far. It is also following up the outcomes of ...

Oman Oil Price Rises 2.54 US Dollars Muscat, 14 Jun (ONA) --- Oman oil price (August delivery) today reached 74.54 US Dollars, comprising a rise by 2.54 US Dollars from the price of yesterday (Tuesday), which was 72 US Dollars. The average price of Oman oil (June delivery) has stabilized at 83.28 US Dollars per barrel, thus 4.79 US Dollars per barrel higher than May delivery. --- Ends/Thuraiya/AH ...

Sohar Industrial City Garners New Investments Worth RO 44 Million Sohar, June 13 (ONA) --- Sohar Industrial City saw a surge in investment activity, according to digital indices of first quarter of this year (2023). The industrial hub, affiliated to the Public Establishment for Industrial Estates "Madayn", recently drew 24 applications for investment. Sixteen of the applications materialized in the form of contracts signed for investment in industrial, service and commercial sectors to the tune of RO 44 million. Sohar Industrial City houses 375 projects, with a total investment ...

Tender Results of Government Treasury Bills Worth RO 12 Million Issued Muscat, 13 Jun (ONA) ---- The total issuance of Government Treasury Bills amounted to RO 12 Million. The value of the allotted Treasury bills amounted to RO 10 million, for a maturity period of 28 days. The average accepted price reached RO 99.660 for every RO 100, and the minimum accepted price arrived at RO 99.660 per RO 100. The average discount rate and the average yield reached4.43214%and 4.44726%, respectively. The value of the allotted treasury bills amounted to RO 2 million, for a maturity ...

Real Estate General Index in Oman Up by 8.4pc Muscat, 13 Jun (ONA) --- Residential land prices took the lead in the general index for residential real estate prices in the Sultanate of Oman, posting an increase of 8.4 percent in the first quarter of 2023 at a value of RO 178.9 million. A report on this segment was issued for the first quarter of 2023 by the National Centre for Statistics and Information (NCSI). The report showed that the residential land price index registered a growth of 17.2 percent and stood at RO 126.4 million. However, apartment price index went down ...

MSX Closes at 4696 Points Muscat, 13 Jun (ONA) --- Muscat Stock Exchange (MSX) general index (30) today lost (0.7) point to close at (4696.64) points, compared to the last session, which stood at (4697.39) points. The trading value today stood at (RO 2,831,655), comprising a surge by (150.3%), compared to the last session, which stood at (RO 1,131,494). The report released by MSX pointed out that the market value went down by (0.001%) to reach about (RO 23.75) billion. The report added that the value of shares bought by non-Omani investors reached (RO 1,529,000), comprising ...

Oman Oil Price Drops 40 Cents Muscat, 13 Jun (ONA) --- Oman oil price (August delivery) today reached 72 US Dollars, comprising a drop by 40 cents from the price of yesterday (Monday), which was 72.40 US Dollars. The average price of Oman oil (June delivery) has stabilized at 83.28 US Dollars per barrel, thus 4.79 US Dollars per barrel higher than ...

Oman, UK Explore Means of Enhancing Investment Cooperation Muscat, 12 Jun (ONA) --- Qais Mohammed Al Yousef, Minister of Commerce, Industry and Investment Promotion, today conferred with Nigel Huddleston, Minister of State for International Trade in the United Kingdom (UK), about means of consolidating areas of cooperation between Oman and Britain in the commercial and investment sectors.The two, who met via videoconferencing, discussed ways of encouraging direct investment in accordance with the laws and regulations governing business in the two friendly countries. Foreign direct ...

Oman Participates in G20 Development Ministers’ Meeting in India Varanasi, 12 Jun (ONA) --- The Sultanate of Oman, represented by the Ministry of Economy, took part in the G20 Development Ministers’ meeting, which was held at Varanasi, India. The Oman’s delegation was led by Dr. Said Mohammed Al Saqri, Minister of Economy. The meeting addressed means of achieving Sustainable Development Goals (SDGs 2030) and the importance of joint action to realize their targets. Bilateral meetings were held on the sidelines of the event between the Minister of Economy ...

Number of Passengers Through Omani Airports Up by 88pc Muscat, 12 Jun (ONA) --- The total number of passengers travelling through airports of the Sultanate of Oman until the end of March 2023 grew by 88% to reach 3,287,015 as against 1,746,259 passengers during the corresponding period in 2022, according to the latest reported preliminary data released by the National Centre for Statistics and information (NCSI).The total number of passengers via Muscat International Airport stood at 2,959,829 at the end of March 2023, marking a rise of 100.8% compared to the same period of the ...

Outcomes of Manjam Labs’ First Phase Approved Muscat, 12 Jun (ONA) --- A meeting was held at Oman Institute for Oil and Gas, Sultan Qaboos University (SQU) today, by a number of ministers and undersecretaries who approved the outcomes of the first phase of Majam laboratories on streamlining procedures of government services. Manjam Labs programme, launched in January 2023, is being realized through the engagement of 22 government institutions. In the first phase, the procedures of 145 government services were simplified. This was achieved by streamlining 53 percent of the ...

CBO Launches Advanced Electronic Program to Analyze ML/TF Risks Muscat, 12 Jun (ONA) --- In continuation of the consistent efforts by the Central Bank of Oman (CBO) in enhancing, developing and updating the anti-money laundering and combating the financing of terrorism (AML/CFT) efforts in the financial sector and keeping abreast with the international developments in this respect, CBO is launching phase one of an advanced electronic program this week for the use of banks and other licensed financial institutions in the operations of analyzing ML/TF risks, jointly with the ...

MSX Gains 28 Points Muscat, 12 Jun (ONA) --- Muscat Stock Exchange (MSX) general index (30) today gained (28) points, comprising a rise by (0.60%) to close at (4697.39) points, compared to the last session, which stood at (4669. 37) points. The trading value today stood at (RO 1,131,494), comprising a drop by (31.2%), compared to last session, which stood at (RO 1,645,722). The report released by MSX pointed out that the market value went up by (0.108%) to reach about (RO 23.75) billion. The report added that the value of shares bought by non-Omani investors reached (RO ...

Oman Oil Price Drops 2.80 US Dollars Muscat, 12 Jun (ONA) --- Oman oil price (August delivery) today reached 72.40 US Dollars, comprising a drop by 2.80 US Dollars from the price of last (Friday), which was 75.20 US Dollars. The average price of Oman oil (June delivery) has stabilized at 83.28 US Dollars per barrel, thus 4.79 US Dollars per barrel higher than May delivery. ---Ends/Thuraiya/AH ...