News

Colombo, 7 Mar (ONA)—The Omani-Sri Lankan Businessmen’s Forum, being organized today at the National Chamber of Commerce and Industry, Sri Lanka, is exploring ways of forging commercial and investment partnerships. Eng. Ridha Jumaa Al Saleh, Chairman of Oman Chamber of Commerce and Industry (OCCI), said he looked forward to an expansion of commercial and investment exchange, which experienced a stage of fluctuation over recent years. By 2021, commercial exchange between the two countries stood at about $113 million, said Al Saleh, noting that the volume of exports accounted ...

Colombo, 7 Mar (ONA) --- The Omani business delegation, headed by Eng. Ridha Juma Al Saleh, Chairman of Oman Chamber of Commerce and Industry (OCCI) met here today with Sandra De Zoysa, President of the Sri Lanka Association for Software and Services Companies (SLASSCOM). The two sides explored promoting cooperation in systems of information technology (IT) by training and grooming people in various fields, as well as utilizing IT in online working, among other topics. It was agreed to draft a memorandum of understanding (MoU) in all areas of cooperation that were previously ...

Cairo, 7 Mar (ONA) --- The UN’s top official for Libya today called for lifting the production blockade at two oil fields including the country’s largest, as oil prices soared to over $130 a barrel.   Stephanie Williams, UN Special Adviser on Libya, said blocking oil production from the Sharara and el-Feel fields “deprives all Libyans from their major source of revenue.”   “The oil blockade should be lifted,” she said on Twitter.   The closures have caused Libya’s daily production of oil to drop by 330,000 barrels, ...

Muscat, 7 Mar (ONA) --- The total number of small and medium enterprises (SMEs) registered at the Authority for Small and Medium Enterprises Development (ASMED) stood at 66,769 till the end of January 2022 compared to 49,337 SMEs during the same period of 2021, constituting a growth by 35.3%, according to the data released by the National Centre for Statistics and Information (NCSI).The Governorate of Musandam recorded the highest increase by 87%. The Governorate of Dhofar come second with a growth rate of 44.2%, followed by the Governorate of Al Wusta by 41.6% while the Governorate ...

Muscat, 7 Mar (ONA) --- Muscat Stock Exchange (MSX) general index (30) today gained (18.1) points, comprising a rise by (0.43%) to close at (‪‪‪‪4202.09) points, compared to the last session, which stood at (‪‪‪‪‪‪4183.96) points.The trading value today stood at (RO 6,736,894), comprising an increase by (12.5%), compared to the last session, which stood at (RO 5,990,856).The report released by MSX pointed out that the market value went up by (0.155%) to reach about (RO 22.19) billion.The report added that the value of shares bought by non-Omani investors reached ...

New York, 7 Mar (ONA) --- The price of regular gasoline broke USD4 per gallon (3.8 liters) on average across the USA for the first time since 2008. During the first full week of Russia’s invasion of Ukraine, the price of regular gas rose by almost 41 cents, according to the AAA motor club. That represents the second largest jump in average national prices in a week, according to the Gas Buddy. "As Russia’s war on Ukraine continues to evolve and we head into a season where gas prices typically increase, Americans should prepare to pay more for gas than they ever have before,” ...

Colombo, 7 Mar (ONA) --- Tharaka Balasuriya, Minister of State for Regional Cooperation of Sri Lanka received here today Eng. Ridha Juma Al Saleh, Chairman of Oman Chamber of Commerce and Industry (OCCI), Head of the Omani business delegation currently visiting Sri Lanka. The meeting highlighted investment opportunities in various sectors in Sri Lanka, particularly in software and information technology, logistics, health, real estate and business initiatives in the field of producing batteries for electric vehicles (EVs). The meeting also touched on establishing a new ...

Sur, 7 Mar (ONA) ---- The Public Establishment for Industrial Estates – Madayn has signed a cooperation agreement with Oman India Fertiliser Company (OMIFCO) to establish a ‘green buffer zone’ at Sur Industrial City. This agreement comes along the lines of Madayn’s efforts to achieve environmental balance, increase green areas in its industrial cities, and enhance public-private partnership in areas that serve the industrial and environmental sectors in the Sultanate of Oman. The project aims at contributing to the reduction of carbon emissions at Sur ...

Muscat, 7 Mar (ONA) ---- The Board of Directors of the Public Authority for Special Economic Zones and Free Zones (OPAZ) held today its first meeting in 2022, under the chairmanship of Dr. Ali Masoud Al Sunaidy, Board Chairman. In light of the support given by the Board to small and medium enterprises (SMEs) in the zones affiliated to the Authority, the Board approved during the meeting, the new commercial registration fees for SMEs after obtaining the necessary approvals from the departments concerned. In view of the approval, the registration fees and the ...

Muscat, 7 Mar (ONA) --- Oman oil price (May Delivery 2022) today reached 125.16 US Dollars, comprising an increase by 16.29 US Dollar from the price of last (Friday), which was 108.87 US Dollars. The average price of Oman oil (March Delivery 2022) has stabilized at 83.62 US Dollars, thus 10.48 US Dollars per barrel higher than February Delivery ...

    Tokyo, 7 Mar (ONA) —- The price of oil jumped more than $10 a barrel today as the conflict in Ukraine deepened amid mounting calls for harsher sanctions against Russia.   Brent crude oil briefly surged over $10 to nearly $130 a barrel early today. Benchmark US crude was up nearly $9 at more than $124 a barrel.   The surge followed a warning from Russian President Vladimir Putin that Ukrainian statehood was imperiled as Russian forces battered strategic locations. —- ...

Tehran, 6 Mar (ONA) --- A forum was held here today between Omani and Iranian entrepreneurs to discuss ways of enhancing economic relations and trade exchange between the two countries. Eng. Hamoud Salim Al Sa'adi, Chairman of the Board of Directors of OCCI’s branch in the Governorate of South Al Batinah, gave a presentation on the promising sectors in the governorate, investments opportunities in Oman, the foreign investments law, as well as economic and business incentives for investors. The forum also explored investment opportunities in the Iranian markets. Mohsen ...

Colombo, 6 Mar (ONA) --- The Omani business delegation, headed by Eng. Ridha Juma Al Saleh, Chairman of Oman Chamber of Commerce and Industry (OCCI), explored the Sri Lankan experience in tea and food processing.The delegation, currently visiting Sri Lanka, toured two major factories in Colombo. They were briefed on the production stages, the used technology and raw materials in processing tea and food, as well as the standards of quality and the targeted export markets.The Omani business delegation is accompanied during the visit by Omar Libi Amar Ajod, Ambassador of Sri Lanka to ...

New York, 6 Mar (ONA) --- Mastercard and Visa are suspending their operations in Russia, the companies said, in the latest blow to the country’s financial system after its invasion of Ukraine.Mastercard said cards issued by Russian banks will no longer be supported by its network and any Mastercard issued outside the country will not work at Russian stores or ATMs.“We don’t take this decision lightly,” Mastercard said in a statement, adding that it made the move after discussions with customers, partners and governments.Visa said it’s working with clients and partners in ...

Muscat, 6 Mar (ONA) --- Muscat Stock Exchange (MSX) general index (30) today gained (49.9) points, comprising a rise by (1.21%) to close at (‪‪‪‪4183.96) points, compared to the last session, which stood at (‪‪‪‪‪‪4134.06) points.The trading value today stood at (RO 5,990,856), comprising a drop by (19.8%), compared to the last session, which stood at (RO 7,466,591).The report released by MSX pointed out that the market value went up by (0.334%) to reach about (RO 22.16) billion.The report added that the value of shares bought by non-Omani investors reached ...

Barcelona, Spain, 6 Mar (ONA) --- The Russian tanks and missiles besieging Ukraine also are threatening the food supply and livelihoods of people in Europe, Africa and Asia who rely on the vast, fertile farmlands of the Black Sea region — known as the “breadbasket of the world.” Ukrainian farmers have been forced to neglect their fields as millions flee, fight or try to stay alive. Ports are shut down that send wheat and other food staples worldwide to be made into bread, noodles and animal feed. And there are worries Russia, another agricultural powerhouse, could ...

Beijing, 3 Mar (ONA) --- Global stock markets were mixed today and oil prices jumped another $5 per barrel after the head of the Federal Reserve said he supports a smaller rise in interest rates than some expected. London and Tokyo advanced while Paris and Frankfurt slipped as Russian forces whose attack on Ukraine has roiled financial markets bombarded the country’s second-largest city and besieged two ports. In early trading, the FTSE 100 in London lost 0.1% to 7,420.78 and Frankfurt’s DAX shed 0.7% to 13,900.03. The CAC in Paris slipped 0.2% to ...

Muscat, 3 Mar (ONA) --- Propelled by a surge in oil and gas production rates and prices, the State’s general revenues soared 85.2% to RO 803.3 million by January 2022, compared to RO 433.7 million during the corresponding period in 2021.Monthly financial accounts issued by the Ministry of Finance point to a 9.59% rise in the State’s general spending, which stood at RO 785.3 million in January 2022, compared to RO 716.6 million in January 2021, (of them RO 162.4 million as public debt service allocations).The balance sheet affirms that the State’s general budget posted a surplus ...

Muscat, 3 Mar (ONA) --- Muscat Stock Exchange (MSX) general index (30) today gained (76.4) points, comprising a rise by (1.88%) to close at (‪‪‪‪4134.06) points, compared to the last session, which stood at (‪‪‪‪‪‪4057.61) points.The trading value today stood at (RO 7,466,591), comprising a drop by (5.4 %), compared to the last session, which stood at (RO 7,895,096).The report released by MSX pointed out that the market value went up by (0.318%) to reach about (RO 22.09) billion.The report added that the value of shares bought by non-Omani investors reached (RO ...

Muscat, 3 Mar (ONA) --- Oman oil price (May Delivery 2022) today reached 116.73 US Dollars, comprising an increase by 5.92 US Dollars from the price of yesterday (Wednesday), which was 110.81 US Dollars.The average price of Oman oil (March Delivery 2022) has stabilized at 83.62 US Dollars, thus 10.48 US Dollars per barrel higher than February Delivery 2022. --- Ends/Anfal/AG ...

Kabul, 2 Mar (ONA) —- The Central Bank of Afghanistan today welcomed $1 billion in financial aid by the World Bank that is meant to support health, education, agriculture and livelihoods.The Afghan bank said the money, which comes from the multi-donor Afghanistan Reconstruction and Trust Fund (ARTF), will bolster humanitarian and economic services, as well as support vulnerable people.The World Bank said the money would go to UN agencies and international NGOs - and the Taliban would have no access to it.—— ...

Muscat, 2 Mar (ONA) --- A tender of Government Treasury Bills, issue number 135, worth RO 95 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 the added advantage of ready liquidity through discounting and repurchase facilities (Repo). The results of the said issue are as follows: The total value of the allotted Treasury bills amounted ...

Muscat, 2 Mar (ONA) --- Muscat Stock Exchange (MSX) general index (30) today gained (2.2) points, comprising a rise by (0.05%) to close at (‪‪‪‪4057.61) points, compared to the last session, which stood at (‪‪‪‪‪‪4055.42) points. The trading value today stood at (RO 7,895,096), comprising a surge by (209.6%), compared to the last session, which stood at (RO 2,550,116). The report released by MSX pointed out that the market value went up by (0.053%) to reach about (RO 22.02) billion. The report added that the value of shares bought by ...

Muscat, 2 Mar (ONA) --- The Ministry of Transport, Communications and Information Technology has accredited Phoenix Technologies and Solutions company (Securado) and Dream Lab Technologies company in the field of security assessment.The move comes within the framework of the ministry's accreditation programme for IT service providers in the Sultanate of Oman.The accreditation programme is considered an important tool to boost the government's digital transformation and enhance the digital economy. It also supports nascent Omani companies, and raises the level of quality, efficiency ...

Muscat, 2 Mar (ONA) --- Oman oil price (May Delivery 2022) today reached 110.81 US Dollars, comprising an increase by 9.96 US Dollars from the price of yesterday (Tuesday), which was 100.85 US Dollars.The average price of Oman oil (March Delivery 2022) has stabilized at 83.62 US Dollars, thus 10.48 US Dollars per barrel higher than February Delivery 2022. --- Ends/Anfal/AG ...

Moscow, 28 Feb (ONA) --- Russia has banned airlines from 36 countries from using its airspace in a tit-for-tat response to Western sanctions. Russia said it would stop flights from nations including Germany, Spain, Italy and Canada. Russia had already barred UK airlines from flying to and across the region after Britain banned national airline Aeroflot from landing in the UK. Yesterday (Sunday), Europe shut its skies to Russian owned or controlled planes. The measures mean airlines will have to make long detours on some routes, potentially raising the ...

Muscat, 28 Feb (ONA) --- The Ministry of Economy organized at Oman Convention and Exhibition Center (OCOC) here today a panel discussion titled "Governorates Development: Ambitions and Enablers". The event was held as part of Muscat International Book Fair's activities.The panel reviewed governorates and sustainable cities development in light of the 10th Five Year Development Plan (2021-2025) and the legislative and regulatory frameworks that support decentralization shift in the governorates of Oman.The panel also discussed several topics, particularly the role of urban strategy in ...

Muscat, 28 Feb (ONA) --- An investor guide on doing business in Oman 2022, has been released here today by Eng. Redha Juma Saleh, Chairman of Oman Chamber of Commerce and Industry (OCCI). The book was published by Crowe Oman.The book focuses on businesses in the Sultanate of Oman, particularly the regulatory process, laws and rules. It also touches on the business-friendly environment in Oman.Dr. Khalid Maniar, Founding Partner and Chairman of Crowe Mak said that this book provides a complete overview of the incorporation process of business entities across the various governorates ...

Muscat, 28 Feb (ONA) --- Muscat Stock Exchange (MSX) general index (30) today gained (19.5) points, comprising a rise by (0.48%) to close at (‪‪‪‪4055.42) points, compared to the last session, which stood at (‪‪‪‪‪‪4035.96) points. The trading value today stood at (RO 2,550,116), comprising a drop by (30.7 %), compared to the last session, which stood at (RO 3,679,398). The report released by MSX pointed out that the market value went up by (0.072%) to reach about (RO 22) billion. The report added that the value of shares bought by ...

Moscow, 28 Feb (ONA) --- Russia’s central bank today sharply raised its key rate in an attempt to shore up the plummeting ruble and prevent the run of banks amid crippling Western sanctions over the Russian war in Ukraine.The bank hiked the benchmark rate to 20% from 8.5%. That followed a Western decision yesterday (Sunday) to freeze Russia’s hard currency reserves.It was unclear exactly what share of Russia’s estimated $640 billion hard currency coffers would be paralyzed by the decision by Western nations to block Russian banks from the SWIFT global payment system. European ...