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Oman Oil Price Rises 54 Cents

Oman Oil Price Rises 54 CentsMuscat, 11 Sep (ONA) --- Oman oil price (November delivery 2023) today reached 91.58 US Dollars, comprising a rise by 54 cents from the price of last (Friday), which stood at 91.04 US Dollars.The average price of Oman oil (September delivery 2023) has stabilized at 80.54 US Dollars per barrel, thus 5.76 US Dollars per barrel higher than August delivery 2023. --- Ends/Thuraiya/Anas ...

Two Licenses Issued to Run Taxi Services in Omani Airports

Two Licenses Issued to Run Taxi Services in Omani AirportsMuscat, 10 Sep (ONA) ---- The Ministry of Transport, Communications and Information Technology announced having granted two licenses for firms to manage taxi services at airports of the Sultanate of Oman.The ministry pointed out that the two licensed firms were authorized to manage the services after meeting all requirements and provisions of Land Transport Law and showing commitment to accommodate, in the apps, all current taxi owners operating at Omani airports.The parties granted the licences pledged to train the taxi ...

Technical Committee Tasked with Attracting Investments in Transport, Logistics Fields Holds Meeting

Technical Committee Tasked with Attracting Investments in Transport, Logistics Fields Holds Meeting Muscat, 10 Sep (ONA) --- The technical committee tasked with attracting investments in the transport and logistics sector held a meeting here today under the chairmanship of Eng. Khamis Mohammed Al Shamakhi, Undersecretary of the Ministry of Transport, Communications and Information Technology for Transport. The meeting, participated by several undersecretaries and officials, reviewed development and preparations for holding workshops in October 2023 that aim at attracting ...

ODB Funds 4 Projects Worth RO 10m in Converting Industries, Food Security

ODB Funds 4 Projects Worth RO 10m in Converting Industries, Food Security Muscat, 10 Sep (ONA) --- The Board of Directors of Oman Development Bank (ODB) approved the funding of 4 projects in the sectors of converting industries and food security to the tune of RO 10.2 million. This came during the board’s 6th meeting for 2023, which was held under the chairmanship of Eng. Mohammed Abu Bakr Al Ghassani, Chairman of the Board of Directors of ODB. Al Ghassani affirmed that increasing the lending ceiling contributed to funding projects with high in-country value (ICV). The projects ...

MSX Gains 6 Points

MSX Gains 6 PointsMuscat, 10 Sep (ONA) --- Muscat Stock Exchange (MSX) general index (30) today gained (6.1) points, comprising a rise by (0.13%) to close at (4696.17) points, compared to the last session, which stood at (4690.02) points.The trading value today stood at (RO 2,884,008), comprising a rise by (25.9%), compared to the last session, which stood at (RO 2,290,624).The report released by MSX pointed out that the market value went up by (0.095%) to reach about (RO 23.70) billion.The report added that the value of shares bought by non-Omani investors reached (RO 121,000), ...

Commerce Ministry Issues E-Commerce Regulation

Commerce Ministry Issues E-Commerce Regulation Muscat, 10 Sep (ONA) ---The Ministry of Commerce, Industry and Investment Promotion issued ministerial decision No.499/ 2023 to regulate the practice of e-commerce activity in the Sultanate of Oman. The decision which comes within the national plan for e-commerce, aims at creating a legal and regulatory environment for the development and promotion of e-commerce, documenting local e-stores, facilitating access to these e-stores organizing operations related to buying and selling via the Internet, reducing ...

Electricity-Water Production Up By 1.6pc in Oman by End of June 2023

Electricity-Water Production Up By 1.6pc in Oman by End of June 2023Muscat, 10 Sep (ONA) --- The total electricity production in the Sultanate of Oman until the end of June 2023 grew by 1.6% to 20,349.1 gigawatts per hour, compared to 20,023.8 gigawatts per hour during the corresponding period in 2022, according to preliminary statistics released by the National Centre for Statistics and Information (NCSI).The governorates of Al Dhahirah, South Al Batinah, and North Al Batinah posted an increase of 0.4% in total electricity production, to 12,985.5 gigawatts per hour, by the end of ...

OQ Group Boasts USD 1.1 Billion Net Profit in First Half of 2023

OQ Group Boasts USD 1.1 Billion Net Profit in First Half of 2023 Muscat, 10 Sep (ONA) --- OQ, the global integrated energy group, reported earnings before interest, taxes, depreciation and amortization (EBITDA) of USD 2.3 billion for the first half of 2023. Additionally, the group posted a net profit of USD 1.1 billion and reported total assets amounting to USD 31.2 billion. OQ Group’s semi-annual report indicated that OQ achieved an average total production of oil from its operated assets and investment partnerships amounting to 222,000 barrels per day. This represents ...

Financing Agreement Worth RO 20m Signed in Support of SMEs, Microenterprises

Financing Agreement Worth RO 20 Million Signed in Support of SMEs, MicroenterprisesMuscat, 7 Sep (ONA) --- The Omani-Saudi joint committee tasked with running the “Programme for Supporting Medium, Small and Microenterprises” signed here today a financing agreement with Oman Development Bank (ODB) to the tune of RO 20 million. The agreement contributes to supporting ODB’s objectives and providing employment opportunities for Omani citizens through the expansion of the bank’s lending portfolio. It enhances ODB’s strive to back medium, small and microenterprises by ...

MSX Loses 31 Points

MSX Loses 31 Points Muscat, 7 Sep (ONA) --- Muscat Stock Exchange (MSX) general index (30) today lost (31.7) points, comprising a decline by (0.67%) to close at (4690.02) points, compared to the last session, which stood at (4721.68) points. The trading value today stood at (RO 2,290,624), comprising a drop by (2.8%), compared to the last session, which stood at (RO 2,355,947). The report released by MSX pointed out that the market value went down by (0.182%) to reach about (RO 23.68) billion. The report added that the value of shares bought by non-Omani investors reached ...

Finance Ministry Launches 2nd Pilot Phase of TSA

Finance Ministry Launches 2nd Pilot Phase of TSA Muscat, 7 Sep (ONA) --- The Ministry of Finance (MOF) has embarked on implementing the 2nd pilot phase of the Treasury Single Account (TSA) project. The move aims to enhance cash management and monitor the movement of revenue and expenditure. TSA is one of the best international practices applied in public finance management. The 2nd pilot phase of TSA targets the Ministry of Health, the Ministry of Education and the Royal Oman Police (ROP). The step comes as part of the efforts exerted by the MOF to improve cash management by ...

Omantel Celebrates Graduation of 52 Trainees from Generation Z Program

Omantel Celebrates Graduation of 52 Trainees from Generation Z Program Muscat, 7 Sep (ONA) --- Omantel today celebrated the graduation of 52 trainees from the third batch of the "Generation Z" training program. The ceremony took place at Omantel’s headquarters under the patronage of Sayyid Dr. Munther Hilal Al Busaidi, Deputy Chairman of Oman Vision 2040, in the presence of Talal Said Al Maamari, CEO of Omantel. This training program, offered by Omantel to fresh graduates in Sultanate of Oman, is part of the company's ongoing efforts to support and prepare young talents. ...

Oman Oil Price Rises 98 Cents

Oman Oil Price Rises 98 Cents Muscat, 7 Sep (ONA) --- Oman oil price (November delivery 2023) today reached 91.39 US Dollars, comprising a rise by 98 cents from the price of yesterday (Wednesday), which stood at 90.41 US Dollars. The average price of Oman oil (September delivery 2023) has stabilized at 80.54 US Dollars per barrel, thus 5.76 US Dollars per barrel higher than August delivery 2023. --- Ends/Khalid ...

Oman Participates in 3rd Meeting of DCO Executive Committee

Oman Participates in 3rd Meeting of DCO Executive CommitteeMuscat, 6 Sep (ONA) --- Represented by the Ministry of Transport, Communications and Information Technology, the Sultanate of Oman today participated in the third meeting of the Executive Committee of the Digital Cooperation Organization (DCO).Held via videoconferencing, the meeting discussed the progress made in initiatives, projects and preparations for the DCO’s general assembly’s meeting. It also looked into measures to approve the requests of various parties wishing to join as new members of the DCO, as well as the ...

NCSI to Conduct Opinion Polls in September, October

NCSI to Conduct Opinion Polls in September, OctoberMuscat, 6 Sep (ONA) --- During the forthcoming period in September and October 2023, the National Centre for Statistics and Information (NCSI) will implement a set of opinion polls within the context of its keenness to collect national data and indices from various economic and social sectors.The surveys cover community satisfaction with health services, employment, social protection, sports, entertainment, tolerance, social solidarity, pride in identity and citizenship, security and safety, standards of living and educational ...

Oman Participates in Seatrade Europe in Germany

Oman Participates in Seatrade Europe in Germany Hamburg, 6 Sep (ONA) --- The Sultanate of Oman, represented by the Ministry of Heritage and Tourism, is taking part in the Seatrade Europe, specializing in cruise and river cruise industry. The Ministry aims, through its participation in this event, to enhance its promotional efforts and to meet with companies operating international cruise ships and decision-makers. The conference witnesses the participation of CEOs, service providers of the cruise ships and yachts sector, and representatives of governments and tourism ...

Oman Heads Meetings of GCC Trade, Industry Undersecretaries

Oman Heads Meetings of GCC Trade, Industry UndersecretariesSalalah, 6 Sep (ONA) --- The 57th preparatory meeting of GCC commerce undersecretaries and the 43rd preparatory meeting of GCC industry undersecretaries were held in Salalah today. The meetings were chaired by Dr. Saleh Said Masan, Undersecretary of the Ministry of Commerce, Industry and Investment Promotion for Commerce and Industry. The meetings discussed topics on the agenda of the GCC undersecretaries, including means of addressing the challenges of intra-trade among GCC countries, facilitating trade exchange ...

Leadership Workshop Focuses on Accelerating Government Digital Transition

Leadership Workshop Focuses on Accelerating Government Digital TransitionMuscat, 6 Sep (ONA) --- Acting in cooperation with global consultancy company Gartner, the Ministry of Transport, Communications and Information Technology, organized here today a workshop on the role of leadership and motivation on accelerating government digital transition. The workshop studied measures to empower digital transition and provide incentives that enhance change and innovation. It also explored major global trends in advanced technologies, as well as means of monitoring areas of the techs’ ...

MSX Loses 5 Points

MSX Loses 5 Points Muscat, 6 Sep (ONA) --- Muscat Stock Exchange (MSX) general index (30) today lost (5.5) points, comprising a decline by (0.12%) to close at (4721.68) points, compared to the last session, which stood at (4727.22) points. The trading value today stood at (RO 2,355,947), comprising a rise by (56.6%), compared to the last session, which stood at (RO 1,504,845). The report released by MSX pointed out that the market value went down by (0.074%) to reach about (RO 23.72) billion. The report added that the value of shares bought by non-Omani investors reached ...

Oman Oil Price Rises 1.20 US Dollar

Oman Oil Price Rises 1.20 US Dollar Muscat, 6 Sep (ONA) --- Oman oil price (November delivery 2023) today reached 90.41 US Dollars, comprising a rise by 1.20 US Dollar from the price of yesterday (Tuesday), which stood at 89.21 US Dollars. The average price of Oman oil (September delivery 2023) has stabilized at 80.54 US Dollars per barrel, thus 5.76 US Dollars per barrel higher than August delivery 2023. --- Ends/Khalid ...

GCC Economy Ministers Meeting Explores Opportunities of Economic Integration

GCC Economy Ministers Meeting Explores Opportunities of Economic Integration Salalah, 6 Sep (ONA) --- The Standing Preparatory Committee at the ministerial level of the GCC Economic and Development Affairs Authority held the 5th meeting of in Salalah today. The meeting was chaired by Dr. Said Mohammed Al Saqri, Minister of Economy, and attended by Chairmen of the Standing Preparatory Committee at the ministerial level of the GCC Economic and Development Affairs Authority. Dr. Said Mohammed Al Saqri, Minister of Economy, delivered a welcoming speech at the meeting in ...

Madayn Signs Agreement to Establish OMIFCO Center for Innovation and Entrepreneurship

Madayn Signs Agreement to Establish OMIFCO Center for Innovation and Entrepreneurship Muscat, 6 Sep (ONA) --- The Public Establishment for Industrial Estates (Madayn) and the Oman-Indian Fertilizer Company (OMIFCO) signed an agreement to establish the OMIFCO Center for Innovation and Entrepreneurship in Sur Industrial City. This agreement stems from the plans of Sur Industrial City to support innovation and entrepreneurship in the Sultanate of Oman in general, and the Governorate of South A’Sharqiyah in particular, by providing an incubator environment for their ...

Oman Investment Authority Invests in Our Next Energy

Oman Investment Authority Invests in Our Next Energy Muscat, 6 Sep (ONA) --- Oman Investment Authority (OIA) announced its investment in the US-based company ‘Our Next Energy (ONE),’ which specializes in innovative battery technology for Electric Vehicles (EVs) and energy storage. This step comes in continuation of OIA’s efforts to diversify its international investment portfolio and achieve optimal benefit for Oman in terms of return on investment and sustainable investments that align with Oman’s commitment to net zero emissions by 2050. As part of the investment, OIA ...

Omantel Awards Business Tasks Worth More Than RO 3 Million to SMEs

Omantel Awards Business Tasks Worth More Than RO 3 Million to SMEsMuscat, 5 Sep (ONA) --- The value of business tasks awarded to small and medium enterprises (SMEs) through Oman Telecommunications Company “Omantel” stood at more than RO 3 million as at the end of the second quarter of 2023. The business, which benefits 17 SMEs, constitutes an embodiment of ongoing cooperation between the two parties. As part of this cooperation, the Authority for Small and Medium Enterprises Development (ASMED) and Omantel recently conducted four workshops in different governorates to ...

Oman’s Oil Exports Hit 178.9 Million Barrels by End of July 2023

Oman’s Oil Exports Hit 178.9 Million Barrels by End of July 2023 Muscat, 5 Sep (ONA) --- The total quantities of Oman’s crude oil exported as at the end of July 2023 stood at 178,956,300 barrels. The average oil price calculated at USD 80.5 per barrel. Oil production hit 223,544,500 barrels. Date released by the National Centre for Statistics and Information (NCSI) showed that the total crude oil production dropped by 1.5 percent to reach 174,642,500 barrels. The total condensates production rose by 6.6 percent to reach 48,902,100 barrels. The average of daily oil production ...

Oman Oil Price Declines 20 Cents

Oman Oil Price Declines 20 Cents Muscat, 5 Sep (ONA) --- Oman oil price (November delivery 2023) today reached 89.21 US Dollars, comprising a decline by 20 cents from the price of yesterday (Monday), which stood at 89.41 US Dollars. The average price of Oman oil (September delivery 2023) has stabilized at 80.54 US Dollars per barrel, thus 5.76 US Dollars per barrel higher than August delivery 2023. --- Ends/Khalid ...

MSX Loses 30 Points

MSX Loses 30 Points Muscat, 5 Sep (ONA) --- Muscat Stock Exchange (MSX) general index (30) today lost (30.4) points, comprising a decline by (0.64%) to close at (4727.22) points, compared to the last session, which stood at (4757.62) points. The trading value today stood at (RO 1,504,845), comprising a drop by (56.8%), compared to the last session, which stood at (RO 3,481,132). The report released by MSX pointed out that the market value went down by (0.097%) to reach about (RO 23.74) billion. The report added that the value of shares bought by non-Omani investors reached ...

GCC Committee for Central Bank Governors Holds its 81st Meeting in Salalah

GCC Committee for Central Bank Governors Holds its 81st Meeting in Salalah Salalah, 5 Sep (ONA) --- The GCC Committee of Central Banks Governors held its 81st meeting in Salalah today, as Oman is the current presidency country. The meeting was chaired by HH Sayyid Taimour bin Asa’ad Al Said, Chairman of the Board of Governors of the Central Bank of Oman (CBO), with participation of Governors of GCC central banks and the GCC Secretary-General. During the meeting, a number of topics related to monetary and financial developments in the GCC states were discussed, in addition ...

Oman’s Tourism Sector Generates RO 1.9bn By End of 2022

Oman’s Tourism Sector Generates RO 1.9bn By End of 2022Muscat, 4 Sep (ONA) --- The total tourism production in the Sultanate of Oman by the end of 2022 stood at RO 1.9 billion, posting an increase of 47.3% over the corresponding period in 2021, when the sector registered RO 1.3 billion.Data issued by the National Centre for Statistics and Information (NCSI) showed that the tourism sector posted a direct added value of RO 1.1 billion at the end of 2022, up from RO 804.9 million in 2021 (33% higher). The tourism sector contributed 2.4% to the Gross Domestic Product.The Tourism ...

Asyad Group Enables Omani Private Logistics Sector with Competitive Direct LCL Solutions from India

Asyad Group Enables Omani Private Logistics Sector with Competitive Direct LCL Solutions from India Muscat, 4 Sep (ONA) --- Asyad Group, Oman’s global integrated logistics provider, unveiled a competitive Less-than-Container Load (LCL) powered by the Group’s logistics arm, and delivered on board of its maritime and container fleet. The LCL solution will connect India’s Nhava Sheva Port with Oman’s Khazaen Dry Port (KDP) via Sohar Port. The new offering aims to empower Oman’s private sector by providing it with enhanced access to thriving global markets and the right ...