News

Workshop Held on Geologic Hydrogen between USA, Oman Muscat, 24 Sep (ONA) --- The Ministry of Energy and Minerals, in collaboration with the Department of Energy of the United States of America (USA), held a technical workshop on Geologic Hydrogen. This workshop is part of the initiatives stemming from the strategic dialogue between the Sultanate of Oman and the United States of America, which was announced during the visit of the Secretary of State of the USA in 2022. The first round of this dialogue was held in Muscat in February 2023 and encompasses three main areas: ...

Feasibility of Oman’s Inclusion in Global Competitiveness Yearbook Discussed Muscat, 24 Sep (ONA)--- The National Competitiveness Committee today discussed the data panel of the National Competitiveness Office, which constitutes an important project undertaken by the office to overcome challenges and save the efforts of national departments entrusted with improving Oman’s international indicators. The committee also reviewed developments in global innovation indicators and environmental performance indices. The discussions took place during the committee’s second regular ...

Nominal GDP of Omani economy Grows by 30pc in 2022 Muscat, 24 Sep (ONA) ---- The Central Bank of Oman (CBO) released its Annual Report for the year 2022. The report presents an overall macroeconomic assessment of Oman during 2022 and analyzes major sectors of the economy through five chapters: Current Assessment and Macroeconomic Outlook (Chapter I); Output, Employment and Prices (Chapter II); Public Finance (Chapter III); Money, Banking and Financial Institutions (Chapter IV); and Foreign Trade and Balance of Payments (Chapter V). The report also contains the audited ...

EU Launches Third Round of Joint Gas PurchasesBrussels, 21 Sep (ONA) --- The European Commission launched a third round of joint gas purchases today to secure supplies ahead of winter."However, the situation in the gas market remains tense. We must therefore remain vigilant and continue our joint purchases of gas in order to guarantee a stable and affordable supply," said Commission Vice President Maros Sefcovic.In the first two rounds in May and July, the EU's joint purchasing plan saw companies place requests for 27.5 billion cubic meters (bcm) of gas and it found matching supply ...

MSX Drops 17 PointsMuscat, 21 Sep (ONA) --- Muscat Stock Exchange (MSX) general index (30) today lost (17.3) points, comprising a drop by (0.37%) to close at (4676.84) points, compared to the last session, which stood at (4694.10) points.The trading value today stood at (RO 5,931,275), comprising a drop by (98.1%), compared to the last session, which stood at (RO 2,994,086).The report released by MSX pointed out that the market value went down by (0.722%) to reach about (RO 23.50) billion.The report added that the value of shares bought by non-Omani investors reached (RO 377,000), ...

Central Bank of Oman Keeps Repo Rate Unchanged at 6.00% Muscat, 21 Sep (ONA) --- The Central Bank of Oman (CBO) decided to keep its repo rate for local banks fixed at 6.00%. 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. This comes after the U.S. Federal Reserve’s decision to leave its key policy rate unchanged at the range of (5.25% - 5.50%). The Central Bank of Oman’s monetary policy target is to sustain and maintain its fixed exchange rate. This policy is aligned ...

Oman Oil Price Declines 68 CentsMuscat, 21 Sep (ONA) --- Oman oil price (November delivery 2023) today reached 93.11 US Dollars, comprising a decline by 68 cents from the price of yesterday (Wednesday), which stood at 93.79 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 ...

OPAZ BoD Approves Measures to Unify Usufruct Fees for SEZAD -based FirmsMuscat, 20 Sep (ONA) --- The Board of Directors (BoD) of the Public Authority for Special Economic Zones and Free Zones (OPAZ) today held its third meeting of the year (2023) during which it approved measures to unify usufruct fees for lands allocated to companies providing services in the Special Economic Zone in Duqm (SEZAD).The meeting, held in Muscat, was chaired by Dr. Ali Masoud Al Sunaidi, Chairman of OPAZ Board of Directors.The meeting also endorsed the general framework of the 2024 plan for OPAZ and ...

MSX Gains 6 PointsMuscat, 20 Sep (ONA) --- Muscat Stock Exchange (MSX) general index (30) today gained (6.5) points, comprising a rise by (0.14%) to close at (4694.10) points, compared to the last session, which stood at (4687.58) points.The trading value today stood at (RO 2,994,086), comprising a drop by (3.6%), compared to the last session, which stood at (RO 3,107,460).The report released by MSX pointed out that the market value went down by (0.037%) to reach about (RO 23.67) billion.The report added that the value of shares bought by non-Omani investors reached (RO 33,000), ...

Omani-British Strategic Advisory Group Holds Second MeetingLondon, 20 Sep (ONA) --- The Omani-British Strategic Advisory Group concluded its second meeting of the year in London. The meeting aimed at enhancing relations between the two countries and achieving the joint financial, investment and economic goals.The Omani side was chaired by Nassir Khamis Al Ghashmi, Secretary General of the Ministry of Finance and the General Supervisor of the National Programme for Fiscal Sustainability. Meanwhile, the British side was chaired by Lord Gerry Grimstone.Al Jashmi underlined the importance ...

Meeting of GCC Supreme Council’s Consultative Commission Kicks off in Dhofar Salalah, 20 Sep (ONA) --- The Consultative Commission of the GCC Supreme Council today held its 4th meeting of the 26th session in the Governorate of Dhofar. The two-day meeting’s work sessions cover several topics, such as approving the agenda project and discussing the report of the committee tasked with studying means of enhancing food and medicine supply chains in GCC states. The meeting will also review the report of the committee tasked with studying tourism integration between GCC ...

Oman, Iran Explore Joint Business, Economic, Investment Cooperation Muscat, 20 Sep (ONA) --- Qais Mohammed Al Yousef, Minister of Commerce, Industry and Investment Promotion met in his office today with Abbas Aliabadi Minister of Industry, Mine and Trade of the Islamic Republic of Iran and his accompanying delegation. During the meeting, the two sides reviewed means of enhancing economic, business and investment relations between Oman and Iran, as well as boosting trade exchange. Further, they touched on investment opportunities and related information in a bid to attract ...

Oman Oil Price Declines 1.30 US Dollars Muscat, 20 Sep (ONA) --- Oman oil price (November delivery 2023) today reached 93.79 US Dollars, comprising a decline by 1.30 US Dollars from the price of yesterday (Tuesday), which stood at 95.09 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/AH ...

OCCI Organizes Oman-Tunisia Business Forum Muscat, 19 Sep (ONA) ---- Oman Chamber of Commerce and Industry (OCCI) organized here today the Oman-Tunisia Business Forum. The event highlighted several sectors, namely transport, logistics, tourism, electric industries, food industries, renewable energy and safety and security. The forum aims to boost economic cooperation and expand business opportunities between the two countries. It also targets providing opportunities for companies and investors to exchange expertise and experiences, as well as strike new ...

Oman hosts meetings of GCC Ministerial Committees for Civil Service, LabourMuscat, 19 Sep (ONA) --- The Sultanate of Oman, represented by the Ministry of Labour, today chaired the 9th meeting of GCC Ministers of Civil Service and Labour. The meeting saw the participation of the GCC secretariat general and the Executive Office of GCC Labour Ministers.The meeting discussed the recommendations that were submitted by the ministerial committees to the undersecretaries of the respective ministries—with a view to the decisions of the GCC Supreme Council.The meeting also looked into the ...

Karwa Launches its First World-Class School Bus ModelMuscat, 19 Sep (ONA) ---- Karwa Motors Company, the leading Omani company in the bus manufacturing sector, launched its modern model of school buses designed in accordance with the highest safety standards to ensure the safety of students while on the move.Dr. Ibrahim Ali Al Balushi, CEO of Karwa Motors told Oman News Agency (ONA) that Karwa school bus was equipped with the latest safety devices and systems that are compatible with the system of “Darb Assalama” (safe journey) that was approved by the Ministry of ...

MSX Drops 22 Points Muscat, 19 Sep (ONA) --- Muscat Stock Exchange (MSX) general index (30) today lost (22.9) point, comprising a drop by (0.49%) to close at (4687.58) points, compared to the last session, which stood at (4710.52) points. The trading value today stood at (RO 3,107,460), comprising a rise by (70.4%), compared to the last session, which stood at (RO 1,824,067). The report released by MSX pointed out that the market value went down by (0.139%) to reach about (RO 23.68) billion. The report added that the value of shares bought by non-Omani investors reached ...

Oman Participates in Global Entrepreneurship Congress in MelbourneMelbourne, 19 Sep (ONA) --- The Sultanate of Oman is taking part in the Global Entrepreneurship Congress 2023 in Melbourne, Australia. The conference, which kicked off today, takes the slogan “Change Your World”.The event focuses on exchanging ideas and experiences between participating entrepreneurs from all over the world, who convene in Melbourne until 22 September, to learn about the latest innovations and trends in the world of leading businesses.With support from the Authority for Small and Medium Enterprises ...

OQGN Organizes Roadshows in Various Governorates on its IPO Muscat, 19 Sep (ONA) --- OQGN Company, the exclusive operator and owner of the natural gas transportation network “NGTN” in the Sultanate of Oman, will be organizing eight roadshows within the framework of its intention to inaugurate its initial public offering (IPO). The roadshows, starting on 20 September and ending on 3 October 2023, aim to educate investors, nationals and residents about the system of subscription in issued shares and targeted categories. OQGN plans to float up to 49% of its shares, in ...

Heritage and Tourism Minister Receives Arab Tourism Organization President Muscat, 19 Sep (ONA) ---- Salim Mohammed Al Mahrouqi, Minister of Heritage and Tourism received here today Dr. Bandar Fahd Al Fahid, President of the Arab Tourism Organization (ATO). The meeting reviewed the current procedures for registering the city of Sur as the Arab Tourism Capital for next year, according to the nomination file that was submitted to the secretariat of the Council of Arab Tourism Ministers and the Arab Tourism Organization. The two sides underlined the importance of highlighting ...

Oman Oil Price Declines 11 CentsMuscat, 19 Sep (ONA) --- Oman oil price (November delivery 2023) today reached 95.09 US Dollars, comprising a decline by 11 cents from the price of yesterday (Monday), which stood at 95.20 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 ...

Commerce Ministry Organizes Workshop on Protecting CompetitionMuscat, 18 Sep (ONA) --- The Ministry of Commerce, Industry and Investment Promotion today organized a workshop in complementation of a public awareness campaign titled “Together for Ensuring Freedom of Competition”.The workshop sought to enlighten consumers, traders and investors about the provisions of the law on protecting competition, preventing monopoly, combating dumping and forging compensatory measures and free pricing principles.The workshop was held at the premises of Oman Chamber of Commerce and ...

EU Reticent to Postpone Brexit Tariffs on EVs London, 18 Sep (ONA) --- The European Union (EU) is hesitating to grant the United Kingdom's request for a postponement of tariffs on electric vehicle (EV) sales. Under the current Brexit trade deal, EVs sold between the UK and the EU are set to incur 10% tariffs from January, unless 45% of the vehicle's value originates from either the UK or the EU, according to "rules of origin." The potential tariffs, which could impact EV prices and competitiveness, have raised concerns among car manufacturers. Despite ...

Minister of Agriculture Receives Tunisia’s Minister of Economy, Planning Muscat, 18 Sep (ONA) --- Dr. Saud Hamoud Al Habsi, Minister of Agriculture, Fisheries and Water Resources received here today Samir Saied, Minister of Economy and Planning of the Republic of Tunisia. During the meeting, the two sides reviewed means of enhancing trade exchange and boosting investment relations between the two countries. They also explored available investment opportunities. --- Ends/Anas ...

Contract Signed for Management, Operation of Al Mirani Fort in MuscatMuscat, 18 Sep (ONA) --- The Ministry of Heritage and Tourism today signed a contract for the management, operation and utilization of Al Mirani Fort in the Wilayat of Muscat. The contract was inked with Al Hajar Mountains Resorts and Hotels company.The agreement was signed by Heritage Undersecretary Eng. Ibrahim Said Al Kharousi and Eng. Khalid Hamad Al Busaidi, CEO of Al Hajar Mountains Resorts and Hotels.The agreement’s signing reflects the Ministry’s efforts to make optimum use of architectural heritage, ...

Tender Results of Government Treasury Bills Worth RO 19.4 Million Issued Muscat, 18 Sep (ONA) --- The total issuance of Government Treasury Bills amounted to RO 19.4 million. The value of the allotted Treasury bills amounted to RO 5 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 reached 4.43214% and 4.44726%, respectively. Whereas, the value of the allotted Treasury bills amounted to RO 14.4 million, for a ...

Second Phase of Government Assets' Inventorying Project Completed Muscat, 18 Sep (ONA)--- The Ministry of Finance completed the tasks of inventorying government assets and entering them in the National Register of Government Assets (codenamed “Osool” or "Assets"). The second phase of the project covered the assets of the Ministry of Finance and Muscat Municipality. As many as 14,722 registered assets in both institutions were inventoried, among 3,442 assets belonging to the Ministry of Finance and 11,280 assets belonging to Muscat Municipality. The second phase also saw the ...

Tunisian Business Delegation Explores Investment Opportunities in Samail Industrial City Muscat, 18 Sep (ONA) ---- A Tunisian business delegation visited today Samail Industrial City to explore the diverse investment landscape and the available investment opportunities. Eng. Yasser Ibrahim Al Ajmi, Acting Director General of Samail Industrial City, welcomed the delegation and gave a brief on Madayn’s network of industrial cities across the Sultanate of Oman. The delegation was introduced to the vision of Madayn in enhancing Oman’s position as a leading regional centre ...

MSX Closes at 4710 PointsMuscat, 18 Sep (ONA) --- Muscat Stock Exchange (MSX) general index (30) today lost (0.7) point, comprising a drop by (0.02%) to close at (4710.52) points, compared to the last session, which stood at (4711.25) points.The trading value today stood at (RO 1,824,067), comprising a drop by (30.7%), compared to the last session, which stood at (RO 2,631,949).The report released by MSX pointed out that the market value went down by (0.067%) to reach about (RO 23.72) billion.The report added that the value of shares bought by non-Omani investors reached ...

OPAZ Launches Omap Platform Muscat, 18 Sep (ONA) ---- The Public Authority for Special Economic Zones and Free Zones (OPAZ) today launched Omap Platform, a digital portal for integrated geographical maps that include all-inclusive data of masterplans for the special economic zones, free zones, and industrial cities overseen by OPAZ. This platform enables users to access detailed services and information of the zones through the available digital maps and tools. Introducing Omap Platform complements OPAZ’s efforts to improve the quality of services provided to investors ...