News

Muscat, 13 Dec (ONA) --- The Director of Commercial Affairs and E-commerce at the Ministry of Commerce, Industry and Investment Promotion, Azza Ibrahim Al Kindi, said that the decision of mandating some commercial activities in Oman to provide e-payment services will be implemented in early 2022 as a first phase, in cooperation with the authorities concerned. She told Oman News Agency (ONA) that the cash payment option remains available to consumers. This step, she explained, aims to achieve comprehensive digital transformation in line with Oman Vision 2040.She urged commercial ...

Muscat, 13 Dec (ONA) --- Oman oil price (February Delivery 2022) today reached 74.13 US Dollars, comprising an increase by 1.41 US Dollars from the price of last (Friday), which was 72.72 US Dollars. The average price of Oman oil (December Delivery 2021) has stabilized at 81.58 US Dollars, thus 8.80 US Dollars per barrel higher than November Delivery 2021. ---Ends/TH ...

Sohar, 12 Dec (ONA) – The Port of Sohar and Sohar Free Zone continued to make headways over the past nine months of this year unbridled by challenges that overshadowed logistics and supply chains in global markets.Sohar Port saw 6.1% growth, with the volume of rolled cargo rising by 46% on an annual basis and dry loose cargo up by 4.3%, while liquid cargo maintained the same levels, but the big development occurred in transshipment, which hit a record 59%.The Free Zone in Sohar registered 16% land occupancy and productive energy therein rose by 14% over the past nine months this year, ...

Muscat, 12 (ONA)—Sultan Salim Al Habsi, Minister of Finance, has said that total general revenues of the State Budget 2022 are estimated at RO 10.58 billion, 6% higher than revenues expected due to be collected by the end of this year (2021). Oil and gas returns are set to comprise 68% of total revenues, against 32% for non-oil and gas revenues. This was stated during a press conference organized by the Finance Ministry today to raise the level of transparency and outline the financial, economic, commercial and investment results, as well as the government’s approaches and ...

Muscat, 12 Dec (ONA) --- Muscat Stock Exchange (MSX) general index (30) today lost (21.1) points, comprising a decline by (0.526%) to close at (‪‪‪‪3987.09) points, compared to the last session, which stood at (‪‪‪‪‪‪4008.15) points. The trading value today stood at (RO 3,002,917), comprising a rise of (24.7%), compared to the last session, which stood at (RO 2,408,572). The report released by MSX pointed out that the market value went down by (0.164%) to reach about (RO 21.95) billion. The report added that the value of shares bought by non-Omani ...

Muscat, 12 Dec (ONA)--- The total outstanding credit extended by the other depository corporations (ODCs) consisting of conventional and Islamic banks in the Sultanate of Oman grew by 5.0 percent to RO 27.8 billion at the end of October 2021, while the credit to the private sector demonstrated moderate increase of 2.4 percent (Y-o-Y) to reach RO 23.4 billion. According to the data issued by the Central Bank of Oman (CBO), the non-financial corporate sector receives the highest share of the total private sector credit, over 46.6 percent, followed by household sector accounted ...

Muscat, 12 Dec (ONA) --- The total number of hotel guests in the Sultanate of Oman increased by 37.9% till the end of October 2021 to stand at 941,418 compared to 682,728 for the same period in 2020. Meanwhile, the occupancy rate grew by 36.3% compared to 26.7% for the same period in 2020, according the latest statistics released by the National Centre for Statistics and Information (NCSI). The total revenues of these hotels fell by 3.5% to RO 69,529,000 till the end of October 2021, compared to RO 72,066,000 in the same period in 2020. Among nationalities, the ...

Muscat, 12 Dec (ONA) --- “Marhaba Oman" event kicked off today under the patronage of Maitha Saif Al Mahrouqi, Undersecretary of the Ministry of Heritage and Tourism for Tourism at Kempinski Hotel Muscat.The two-day event, organized by the Ministry of Heritage and Tourism, brings together a number of tourism sector partners in the Sultanate of Oman and their counterparts in the Kingdom of Saudi Arabia (KSA).Al Mahrouqi said that the event comes to open wider horizons and benefit from the strong ties binding Oman and KSA on various fields.She further added that the event ...

Muscat, 12 Dec (ONA)—The Ministry of Labour is pressing ahead with its initiative to boost the wages of fresh Omani workers who recently joined the private sector. The initiative encourages private sector firms to facilitate the employment of a new batch of 342 Omani workers having different specialties and qualifications, among them 122 university degree holders, 100 post-General Education Diploma (GED) holders and 120 GED holders. As many as 2,190 jobs were unveiled under the initiative since it was first announced in June 2021. A specialized team will follow up the jobs ...

Muscat, 12 Dec (ONA) – Oman Investment Authority (OIA) held the fourth forum on its institutional connectivity programme “Rawabet”, which aims to link the policies of its affiliate firms with its overall approach to goals of Oman Vision 2040 targeting the development of sources of economic diversification, the consolidation of the volume of non-oil revenues in the Gross Domestic Product and the attraction of direct foreign investments to the Sultanate of Oman. The two-day conference is attended by ministers, undersecretaries, chairmen of boards of directors of OIA firms, CEOs ...

Muscat, 12 Dec (ONA) – The Council of Ministers has endorsed a study on amending the Law on Protecting Public Funds and Conflict of Interests promulgated under Royal Decree No. 112/2011. The statute seeks to enhance transparency and government procedures on combating corruption, according to a statement issued by the Council reading as follows: “In light of the constant attention accorded by the government to update laws, revise legislative and auditing procedures and developing measures of accountability so that they could constitute the cornerstone of justice in ...

Muscat, 12 Dec (ONA) --- Liwa Plastics Industries Complex, a transformational project of OQ – the global integrated energy group of the Sultanate of Oman – will witness the official Commissioning Ceremony at its site in Sohar Industrial Port on 20 December 2021. The successful implementation of the petrochemicals project, with an investment of RO 2.7 billion (approx. USD 7 billion), exemplifies the Omani government’s efforts to diversify revenue sources, support local manufacturing opportunities, and most importantly, to add value to the country’s natural resources by ...

Muscat, 9 Dec (ONA) --- Muscat Stock Exchange (MSX) general index (30) today lost (3.8) points, comprising a decline by (0.094%) to close at (‪‪‪‪4008.15) points, compared to the last session, which stood at (‪‪‪‪‪‪4011.94) points. The trading value today stood at (RO 2,408,572), comprising a rise of (105.8%), compared to the last session, which stood at (RO 1,170,594). The report released by MSX pointed out that the market value went down by (0.013%) to reach about (RO 21.99) billion. The report added that the value of shares bought by non-Omani investors ...

Jaalan Bani Bu Hassan, 9 Dec (ONA) – Operations marking the start of commercial farming of shrimp were launched at Quroon Farm in Jaalan Bani Bu Hassan, Governorate of South A'Sharqiyah. The project, which stood at RO 20 million, occupies an area of 500 hectares (5 square km). The ceremony was presided over by Dr. Khalfan Said Al Shuaili, Minister of Housing and Urban Planning. The project is set to have a total capacity of 4,600 tons per annum by the time it is completed in 2023. In 2022, it is expected to have an output of 2,100 tons. The farm, which meets high standards ...

Muscat, 9 Dec (ONA) --- The Ministry of Heritage and Tourism will organize “Marhaba Oman" event next Sunday under the patronage of Maitha Saif Al Mahrouqi, Undersecretary of the Ministry of Heritage and Tourism for Tourism at Kempinski Hotel Muscat.The two-day event will bring together a number of tourism sector partners in the Sultanate of Oman and their counterparts in the Kingdom of Saudi Arabia (KSA).The aim is to attract major tourism companies in the Saudi market and creating channels for communication to enhance areas of cooperation in the tourism sector, besides highlighting ...

Muscat, 9 Dec (ONA) --- Oman oil price (February Delivery 2022) today reached 74.51 US Dollars, comprising an increase by 62 Cents from the price of yesterday (Wednesday), which was 73.89 US Dollars. The average price of Oman oil (December Delivery 2021) has stabilized at 81.58 US Dollars, thus 8.80 US Dollars per barrel higher than November Delivery 2021. ---Ends/MS/AH ...

Cairo, 8 Dec (ONA)—The 24th ordinary session of the Executive Office of the Arab Ministerial Council for Tourism kicked off here today, with the participation of the Sultanate of Oman.The Omani delegation was headed by Salim Mohammed Al Mahrooqi, Minister of Heritage and Tourism.The meeting discussed a number of topics, including support for the Palestinian economy in the field of tourism and conservation of cultural heritage and archaeological sites, as well as training of human resources operating in the tourism sector.Unanimous agreement was made on the declaration of Madaba City as ...

Liwa, 8 Dec (ONA)—Minerals Development Oman (MDO) held a ceremony marking the official launch of Ahjaar Mining in the Wilayat of Liwa, Governorate of North Al Batinah.The project figures among ventures undertaken by Oman Investment Authority (OIA).The production capacity of the 2.2 sq km gabbro stone project stands at 2.4 million tons, First Phase.The ceremony was held under the patronage of Sheikh Saif Hamyer Al Malik Al Shihi, Governor of North Al Batinah.Saif Ahmed Al Jabri, Director of Projects at, said that the project targets local and international markets due to the importance of ...

Muscat, 8 Dec (ONA) --- Taking a collaborative approach towards boosting In-Country Value (ICV), the SMEs Development Authority signed an MoU with Oman Tourism Development Company (OMRAN Group). The strategic collaboration aims at enhancing the joint efforts to provide further opportunities to SMEs working in the tourism sector, through various programmes and initiatives. The agreement was signed by Halima Rashid Al Zari, Chairperson, SMEs Development Authority and Eng. Mohammed Salim Al Busaidi, Chairman of OMRAN Group. The signing ceremony took place in the ...

Muscat, 8 Dec (ONA)--- The Ministry of Commerce, Industry and Investment Promotion, in cooperation with the Foreign Ministry, organized the fourth meeting with the ambassadors and heads of the diplomatic missions accredited to the Sultanate of Oman. The meeting, organized at the Oman Convention and Exhibition Center, aims to introduce incentives and investment opportunities available in Oman in various targeted sectors, as well as alluring foreign capital during the next period. Sheikh Khalifa Ali Al Harthy, Undersecretary of the Foreign Ministry for Diplomatic Affairs gave a ...

Muscat, 8 Dec (ONA) --- Taking a collaborative approach towards boosting In-Country Value (ICV), the SMEs Development Authority signed an MoU with Oman Tourism Development Company (OMRAN Group). The strategic collaboration aims at enhancing the joint efforts to provide further opportunities to SMEs working in the tourism sector, through various programmes and initiatives. The agreement was signed by Halima Rashid Al Zari, Chairperson, SMEs Development Authority and Eng. Mohammed Salim Al Busaidi, Chairman of OMRAN Group. The signing ceremony took place in the ...

Muscat, 8 Dec (ONA)--- The Oman American Business Center (OABC), in cooperation with the Ministry of Commerce, Industry and Investment Promotion and the US Embassy in Muscat, launched a promotional video marking the 12th anniversary of signing the Free Trade Agreement between the Sultanate of Oman and the USA. The promotional video aims at educating the public about the agreement, besides encouraging more companies to get benefit from it. The promotional video, entitled "Successes of the US-Oman Free Trade Agreement", highlights stories of some US and Omani companies whose success ...

Muscat, 8 Dec (ONA) --- Muscat Stock Exchange (MSX) general index (30) today gained (30.97) points, comprising an increase by (0.78%) to close at (‪‪‪‪4011.94) points, compared to the last session, which stood at (‪‪‪‪‪‪3980.98) points. The trading value today stood at (RO 1,170,594), comprising a drop of (33.9%), compared to the last session, which stood at (RO 1,770,259). The report released by MSX pointed out that the market value went up by (0.170%) to reach about (RO 21.99) billion. The report added that the value of shares bought by non-Omani ...

Nizwa, 8 Dec (ONA) --- Makers Oman Center at Innovation Park Muscat of the Ministry of Higher Education, Research and Innovation in cooperation with the University of Nizwa hosted workshops on student innovations and how to create prototypes for innovative ideas, as well as other activities, as part of the Global Entrepreneurship Week 2021, with the participation of more than 40 student companies and entrepreneurs. The event included a variety of applied workshops in the areas of innovation and the Fourth Industrial Revolution technologies, such as smart manufacturing of ...

Muscat, 8 Dec (ONA)--- A tender of Government Treasury Bills, issue number 129, worth RO 99 Million was announced 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 ...

Muscat, 8 Dec (ONA) --- Oman oil price (February Delivery 2022) today reached 73.89 US Dollars, comprising an increase by 69 Cents from the price of yesterday (Tuesday), which was 73.20 US Dollars.The average price of Oman oil (December Delivery 2021) has stabilized at 81.58 US Dollars, thus 8.80 US Dollars per barrel higher than November Delivery ...

Oman Oil Price Rises 69 Cents Muscat, 8 Dec (ONA) --- Oman oil price (February Delivery 2022) today reached 73.89 US Dollars, comprising an increase by 69 Cents from the price of yesterday (Tuesday), which was 73.20 US Dollars. The average price of Oman oil (December Delivery 2021) has stabilized at 81.58 US Dollars, thus 8.80 US Dollars per barrel higher than November Delivery 2021. ---Ends/TH ...

Muscat, 7 Dec (ONA) – The Tax Authority has called upon taxpayers to submit their declarations on income tax for outstanding periods by 20 December 2021, at the latest, via electronic portals in accordance with the designated forms. The Tax Authority pointed out that the entities whose operations are governed by income-tax terms and conditions have an obligation to submit their income tax reports so that they could be entitled either for paying 3% or for waiving of this percentage, if they meet the conditions. The Tax Authority explained that the Tax Law deems deliberate ...

Muscat, 7 Dec (ONA) – The Sultanate of Oman, represented by the Ministry of Commerce, Industry and Investment Promotion and the Kingdom of Saudi Arabia (KSA), represented by the Ministry of Commerce, signed two memoranda of understanding (MoUs) at Al Bustan Palace Hotel today on upgrading cooperation in the fields of trade, standardization, specifications, quality, criteria and labs. The pacts coincide with the current visit to Oman by HRH Prince Mohammed bin Salman Al Saud, KSA Crown Prince, Deputy Prime Minister and Minister of Defence in Saudi Arabia. The MoUs were signed by ...

Muscat, 7 Dec (ONA) --- The total number of passengers travelling through airports in the Sultanate of Oman (Muscat, Salalah, Sohar and Duqm) till the end of September 2021 reached 2,870,810, compared to 3,908,289 passengers as of the end of September 2020, comprising a decline by 26.5%. The total number of flights at the airports of the Sultanate of Oman reached 26,636 flights until the end of September 2021, including 18,604 international flights through Muscat International Airport, Salalah Airport and Sohar Airport and 8,032 domestic flights at Muscat International Airport, ...