News

Economy
MSX Gains 5 Points

MSX Gains 5 Points Muscat, 28 Nov (ONA) --- Muscat Stock Exchange (MSX) general index (30) today gained (5.4) points, comprising a rise by (0.12%) to close at (4612.64) points, compared to the last session, which stood at (4607.25) points. The trading value today stood at (RO 3,183,844), comprising a drop by (28.3%), compared to the last session, which stood at (RO 4,439,097). The report released by MSX pointed out that the market value went up by (0.044%) to reach about (RO 23.50) billion. The report added that the value of shares bought by non-Omani investors reached ...

New Chairman Elected for OCCI Board

New Chairman Elected Board Chairman of OCCI 2022-2026 Term Muscat, 28 Nov (ONA)—Faisal Abdullah Al Rowas was elected as the new board chairman of Oman Chamber of Commerce and Industry (OCCI) for the period 2022-2026, after getting 11 of 21 votes in the chamber’s recent elections. The results of elections, conducted in secret ballot, were announced by Dr. Saleh Said Massan, Undersecretary of the Ministry of Commerce, Industry and Investment Promotion for Commerce and Industry, Head of the Elections Committee for the period 2022-2026. Rashid Amer Al Maslahi was elected as ...

Oman Participates in COMCEC Ministerial Session

Oman Participates in COMCEC Ministerial Session Istanbul, 28 Nov (ONA) --- The Sultanate of Oman, represented by the Ministry of Economy, is taking part in the 38th ministerial session of the Standing Committee for Economic and Commercial Cooperation of the Organization of Islamic Cooperation (COMCEC). The session is held during the period from 26-29 November 2022 in Istanbul, the Republic of Turkey. Oman’s delegation is headed by Dr. Said Mohammed Al Saqri, Minister of Economy. The session discusses a spectrum of topics, including the progress made regarding the ...

Oman Oil Price Declines 3.89 US Dollars

Oman Oil Price Declines 3.89 US DollarsMuscat, 28 Nov (ONA) --- Oman oil price (January Delivery 2023) today reached 76.73 US Dollars, comprising a drop by 3.89 US Dollars from the price of last (Friday) which stood at 80.62 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/AG ...

Liwa Model Residential City’s Inauguration Tomorrow

Liwa Model Residential City’s Inauguration TomorrowLiwa, 27 Nov (ONA) --- As part of celebrations marking Oman’s 52nd National Day, HH Sayyid Belarab bin Haitham Al Said will tomorrow (Monday) patronize over a ceremony marking the opening of Liwa Model Residential City, which covers an area of 12 million sqm.The city, set up in the vicinity of Al Batinah Expressway, has been designed to accommodate 30,000 residents. It boasts a broad range of services and facilities, including 1,300 housing units and around 3,400 single and double residential units. The city is also designed to ...

MSX Gains 52 Points

MSX Gains 52 Points Muscat, 27 Nov (ONA) --- Muscat Stock Exchange (MSX) general index (30) today gained (52) points, comprising a rise by (1.14%) to close at (4607.25) points, compared to the last session, which stood at (4555.21) points. The trading value today stood at (RO 4,439,097), comprising a surge by (121.8%), compared to the last session, which stood at (RO 2,001,664). The report released by MSX pointed out that the market value went up by (0.362%) to reach about (RO 23.49) billion. The report added that the value of shares bought by non-Omani investors reached ...

Al Mazyona Free Zone Receives First Shipment from Ningbo Port in China

Al Mazyona Free Zone Receives First Shipment from Ningbo Port in ChinaAl Mazyona, 27 Nov (ONA) --- Al Mazyona Free Zone today received the first containerized shipment arriving directly from the port of Ningbo in China. The shipment was received in coordination with the port of Salalah through Arabian Silk Line Trading and Marine Services company.The Port of Salalah, acting in partnership with Maersk, has launched a new multimodal transport solution for shipments to the Al Mazyona Free Zone as part of the port’s regional strategy.Commenting on this development, Keld M. Christensen, ...

S&P Upgrades Oman’s Credit Rating from "BB-" to "BB"

S&P Upgrades Oman’s Credit Rating from "BB-" to "BB"Muscat, 26 Nov (ONA)—Standard and Poor’s (S&P) has upgraded the Sultanate of Oman’s credit rating from“BB-”to “BB”, with stable future outlook due to improved fiscal performance of the state.S&P also cited other indices, including improved performance in the balance of payments, measures undertaken by the government within the Medium Term Fiscal Balance Plan and a rise in oil prices as factors projecting positive outlook, coupled with the amelioration of net asset position in 2023.S&P pointed out that the government of Oman ...

Finance Ministry Issues Circular on Drafting State’s Closing Account 2022

Finance Ministry Issues Circular on Drafting State’s Closing Account 2022Muscat, 24 (ONA) —- The Ministry of Finance issued Circular No. 1/2022 on the preparation of the closing account of the State Fiscal Year 2022. The circular requires all units of the State Administrative Apparatus to present their final accounts by 15 March 2023 at the latest.It calls upon all units to enclose major outcomes and goals achieved when implementing the endorsed budgets during Fiscal Year 2022, as well as revenues and actual spending of funds as compared to the sums endorsed, in line with the terms of ...

Oman, Tanzania Ink MoU to Establish Multimodel Logistics Park

Oman, Tanzania Ink MoU to Establish Multimodel Logistics Park Muscat, 24 Nov (ONA) --- Asyad Group signed today a Memorandum of Understanding (MoU) with Tanzania Post to explore the potential of establishing a multimodal logistics business park and e-commerce hub in the city of Dar es Salaam, Tanzania. Building on its advanced e-commerce solutions, Asyad is expanding its presence to the Tanzanian markets in furtherance to its long-standing partnership with Tanzania Post. The expansion aims to boost cross-border trade and increase the flow of e-commerce between the two ...

Oman Oil Price Declines 4.31 US Dollars

Oman Oil Price Declines 4.31 US Dollars Muscat, 24 Nov (ONA) --- Oman oil price (January Delivery 2023) today reached 77.50 US Dollars, comprising a drop by 4.31 US Dollars from the price of yesterday (Wednesday) which stood at 81.81 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/Anas ...

MoC Inked for Training Students of Higher Education Institutions

MoC Inked for Training Students of Higher Education InstitutionsMuscat, 23 Feb (ONA)—The National Employment Programme (NEP) today signed a memorandum of cooperation (MoC) with TICKone Platform to provide training opportunities for students registered in higher education institutions from the public and private sectors.The MoC was inked by Eng. Azhar Ahmed Al Kindi, Technical Director of NEP, and Saleh Salim Al Rashidi, CEO of TICKone. ---Ends/bishara/AG ...

National Competitiveness Committee Seeks to Improve Oman’s Rankings Globally

National Competitiveness Committee Seeks to Improve Oman’s Rankings Globally Muscat, 23 Nov (ONA) --- The National Competitiveness Committee held its third and last meeting for 2022. The meeting was held at the Ministry of Economy today and chaired by Dr. Said bin Mohammed Al Saqri, Minister of Economy. The meeting reviewed the decisions made at the committee’s last meeting. Then, the two action plans related to improving Oman’s performance in the Network Readiness Index, and the Global Innovation Index were presented before the committee for discussion. The ...

MSX Gains 39 Points

MSX Gains 39 Points Muscat, 23 Nov (ONA) --- Muscat Stock Exchange (MSX) general index (30) today gained (39.3) points, comprising a rise by (0.87%) to close at (4543.76) points, compared to the last session, which stood at (4504.49) points. The trading value today stood at (RO 6,277,552), comprising a surge by (271.3%), compared to the last session, which stood at (RO 1,690,542). The report released by MSX pointed out that the market value went up by (0.183%) to reach about (RO 23.40) billion. The report added that the value of shares bought by non-Omani investors ...

Oman Oil Price Declines 51 Cents

Oman Oil Price Declines 51 CentsMuscat, 23 Nov (ONA) --- Oman oil price (January Delivery 2023) today reached 81.81 US Dollars, comprising a drop by 51 cents from the price of yesterday (Tuesday) which stood at 82.32 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 ...

National Programme for Financial Sustainability to Be Implemented from January 2023

National Programme for Financial Sustainability to Be Implemented from January 2023Muscat, 22 Nov (ONA) --- Following the directives of His Majesty Sultan Haitham bin Tarik, the first phase of the "National Programme for Financial Sustainability and Financial Sector Development" will start in the beginning of January 2023 and continue until the end of the second quarter of the same year, according to the Ministry of Finance.In a statement to Oman News Agency (ONA), the ministry explained that the programme seeks to study the current position of the financial sector, diagnose major ...

Oman Airports Opens Document Management Centre at Muscat International Airport

Oman Airports Opens Document Management Centre at Muscat International AirportMuscat, 22 Nov (ONA) --- Oman Airports today opened a Document Management Centre at Muscat International Airport on an area of ​​787 sqm. The centre includes 430 sqm for document storage and 357 sqm for other facilities.The opening ceremony was held under the auspices of Dr. Hamad Mohammed Al Dhawyani, Chairman of the National Records and Archives Authority (NRAA).On the sidelines of the ceremony, Oman Airports signed an agreement to provide an electronic document management system in accordance with the ...

OCCI Elections Progress in Full Ease

OCCI Elections Progress in Full EaseMuscat, 22 Nov (ONA) --- Elections of Oman Chamber of Commerce and Industry (OCCI) for the board membership (2022-2026) received rousing applaud from a number of voters and candidates contesting the elections. In particular, they commended the electronic processing of elections and organized arrangements set in place.In comments to Oman News Agency (ONA), Mustafa Ahmed Salman, Board Chairman of United Securities LLC, praised the electoral process, hoping that the new OCCI board would meet the aspirations of the private sector.Eng. Siham Ahmed Al ...

MSX Gains 3 Points

MSX Gains 3 PointsMuscat, 22 Nov (ONA) --- Muscat Stock Exchange (MSX) general index (30) today gained (3.9) points, comprising a rise by (0.09%) to close at (4504.49) points, compared to the last session, which stood at (4500.55) points.The trading value today stood at (RO 1,690,542), comprising a drop by (53.6%), compared to the last session, which stood at (RO 3,645,590).The report released by MSX pointed out that the market value went up by (0.328%) to reach about (RO 23.36) billion.The report added that the value of shares bought by non-Omani investors reached (RO 783,000), ...

Dual Carriageway Project from Duqm Airport to Ras Markaz Awarded

Dual Carriageway Project from Duqm Airport to Ras Markaz Awarded Duqm, 22 Nov (ONA) --- The Public Authority for Special Economic Zones and Free Zones (OPAZ) has awarded the construction of the dual carriageway from Duqm Airport Roundabout to Ras Markaz, at a total length of 51 km. The move complements the implementation of the strategic road network within the comprehensive plan of the Special Economic Zone at Duqm (SEZAD). Eng. Ahmed Ali Akaak, Chief Executive Officer in charge of the Special Economic Zone at Duqm, said that the project to develop the dual carriageway of the ...

OCCI Main Elections Committee Monitors Electoral Process

OCCI Main Elections Committee Monitors Electoral ProcessMuscat, 22 Nov (ONA) --- The Main Committee for Oman Chamber of Commerce and Industry (OCCI) elections for the 4-year membership period (2022-2026) held a meeting today at the Oman Convention and Exhibition Centre (OCEC). The meeting was aimed at following up the progress of the electoral process at election centres in various governorates of the Sultanate of Oman.The meeting was chaired by Dr. Saleh Said Masan, Undersecretary of the Ministry of Commerce, Industry and Investment Promotion for Commerce and Industry, who heads the ...

Tender Results Issue No. 145 of Government Treasury Bills Worth RO 2 Million Issued

Tender Results Issue No. 145 of Government Treasury Bills Worth RO 2 Million Issued Muscat, 22 Nov (ONA) --- A tender of Government Treasury Bills, issue number 145, worth RO 2 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 ...

OCCI 4-Year Periodic Elections Kick Off in All Oman Governorates

OCCI 4-Year Periodic Elections Kick Off in All Oman GovernoratesMuscat, 22 Nov (ONA) --- Private sector establishments today began casting ballots to select their prospective candidates in Oman Chamber of Commerce and Industry (OCCI) elections for the forthcoming period of membership (2022-2026). As many as 122 candidates from different governorates of Oman contest seats dedicated to joint stock companies and foreign investment firms.The voting, in which 14,977 registered establishments take part, is scheduled to continue till 6 pm today, after which the ballots are sorted out ...

Oman Oil Price Rises 86 Cents

Oman Oil Price Rises 86 CentsMuscat, 22 Nov (ONA) --- Oman oil price (January Delivery 2023) today reached 82.32 US Dollars, comprising a rise by 86 cents from the price of yesterday (Monday) which stood at 81.46 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 ...

MSX Gains 18 Points

MSX Gains 18 PointsMuscat, 21 Nov (ONA) --- Muscat Stock Exchange (MSX) general index (30) today gained (18.7) point, comprising a rise by (0.42%) to close at (4500.55) points, compared to the last session, which stood at (4481.84) points.The trading value today stood at (RO 3,645,590), comprising a surge by (352.3%), compared to the last session, which stood at (RO 806,002).The report released by MSX pointed out that the market value went up by (1.286%) to reach about (RO 23.28) billion.The report added that the value of shares bought by non-Omani investors reached (RO 1,210,000), ...

Khazaen Dry Port Joins A.P Moller – Maersk’s “Ports of Call” Network

Khazaen Dry Port Joins A.P Moller – Maersk’s “Ports of Call” Network Muscat, 21 Nov (ONA) --- Khazaen Dry Port, which was established in partnership between Asyad and the private sector, announced that it joined A.P. Moller – Maersk’s (Maersk) extensive ‘Ports of Call’ network. Joining global shipping lines, Khazaen Dry Port will further bolster its global position as an import, re-export and transshipment center as the country presses ahead to become one of the leading logistics hubs in the region. Underlining Asyad’s role as a market growth leader, this ...

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 ...