News

MSX Index Declines Muscat, 29 Oct (ONA) --- Muscat Stock Exchange (MSX) general index (30) today lost (1.9) points, comprising a drop by (0.04%) to close at (4551.81) points, compared to the last session, which stood at (4553.70) points. The trading value today stood at (RO 3,392,210), comprising a decline by (41.1%), compared to the last session, which stood at (RO 5,755,802). The report released by MSX pointed out that the market value went up by (0.046%) to reach about (RO 23.69) billion. The report added that the value of shares bought by non-Omani investors reached ...

MSX Drops 38 Points Muscat, 26 Oct (ONA) --- Muscat Stock Exchange (MSX) general index (30) today lost (38.9) points, comprising a drop by (0.85%) to close at (4553.70) points, compared to the last session, which stood at (4592.62) points. The trading value today stood at (RO 5,755,802), comprising a decline by (67.3%), compared to the last session, which stood at (RO 17,615,713). The report released by MSX pointed out that the market value went down by (0.211%) to reach about (RO 23.68) billion. The report added that the value of shares bought by non-Omani investors ...

Asyad Group Ranks 4th on Forbes Middle East’s Sustainability Leaders listMuscat, 26 Oct (ONA) --- Asyad Group, Oman’s global integrated logistics provider, was ranked as the fourth most sustainable transport and logistics company in the region, according to Forbes Middle East’s Sustainability Leaders list. The prestigious ranking is reflects the Group’s efforts to implement cutting-edge technologies and practices across its business units, contributing to shaping Oman’s sustainable future. The Forbes Middle East’s Sustainability Leaders list recognizes the ...

Agreement Inked to Establish $300m Polymer Manufacturing Plant in Sohar Port Sohar, 26 Oct (ONA) --- Sohar Port and Freezone signed today an usufruct agreement with Universal FINE Chemicals SPC to establish a polymer manufacturing plant in Sohar Port to the tune of USD 300 million. The project, which will be set up on a total area of 240,000 square meters, caters to diverse applications including production of energy, agriculture, wastewater management, and the pulp and paper industry in the Middle East, North and South America and Europe. The signing ceremony was held ...

Oman Oil Price Rises 1.32 US Dollars Muscat, 26 Oct (ONA) --- Oman oil price (December delivery 2023) today reached 90.32 US Dollars, comprising a rise by 1.32 US Dollars from the price of yesterday (Wednesday), which stood at 89.04 US Dollars. The average price of Oman oil (October delivery 2023) has stabilized at 86.57 US Dollars per barrel, thus 6.03 US Dollars per barrel higher than September delivery 2023. --- Ends/Anas ...

Permanent Committee for Statistics Holds Meeting Muscat, 25 Oct (ONA) --- The Permanent Committee for Statistics held a meeting here today under the chairmanship of Dr. Khalifa Abdullah Al Barwani, CEO of the National Centre for Statistics and Information (NCSI). The committee reviewed several statistics projects and programmes and took appropriate decisions. It also discussed the system of automating monetary data and foreign trade data, among other topics. --- Ends/Anas ...

Oman, Iran Discuss Cooperation in Communication, ICT FieldsMuscat, 25 Oct (ONA) --- The Sultanate of Oman and the Islamic Republic of Iran today held a talks session on areas of communications and information technology.The Omani side was headed by Eng. Said Hamoud Al Ma’awali, Minister of Transport, Communications and Information Technology, while Iranian side was led by Issa Zarepour, Minister of Information and Communications Technology in Iran. The two sides reviewed ways of boosting bilateral relations. They discussed means of consolidating cooperation in the fields of ...

Oman Oil Price Drops 1.32 US DollarsMuscat, 25 Oct (ONA) --- Oman oil price (December delivery 2023) today reached 89.04 US Dollars, comprising a drop by 1.32 US Dollars from the price of yesterday (Tuesday), which stood at 90.36 US Dollars.The average price of Oman oil (October delivery 2023) has stabilized at 86.57 US Dollars per barrel, thus 6.03 US Dollars per barrel higher than September delivery 2023. --- Ends/Thuraiya/Anas ...

Inflation Rate in Oman Reaches 1.27% by September 2023 Muscat, 24 Oct (ONA) --- The annual inflation rate in the Sultanate of Oman reached 1.27% by the end of September 2023 according to data on the Consumer Price Index (CPI) which were issued by the National Centre for Statistics and Information (NCSI). Most main groups which constitute the CPI increased such as the food and non-alcoholic beverages group which went up by (3.41%). The rise in this category is driven by an increase in the prices of the following: fish and seafood (11.26%), milk, cheese and eggs (8.63%), fruits ...

Huawei ICT Competition 2023 Kicks off Muscat, 24 Oct (ONA) --- Acting in cooperation with the Ministry of Labour, Huawei company today celebrated the launch of Huawei ICT Competition 2023 at Huawei Training Centre, located at Omantel headquarters in Muscat. This year’s edition, which takes the slogan “Connection, Glory and the Future”, targets more than 1,000 students from public and private universities and colleges in the Sultanate of Oman. The three-phase competition will shortlist nine students to contest the final, scheduled to be held in mid-December 2023 in the ...

OMRAN Group Inks MoU to Groom Human Resources in Tourism Sector Muscat, 24 Oct (ONA) --- OMRAN Group today signed a memorandum of understanding (MoU) with the Global Travel and Tourism Partnership (GTTP) company. The MoU will initiate the launch of extracurricular programmes and activities specifically designed for 10th and 11th grade students as a part of the Group's Strategy. The MoU was inked by Dr. Hashil Obaid Al Mahrouqi, CEO of OMRAN Group, and Michel Taride, Chairman of GTTP Advisory Board. Moreover, the MoU enables GTTP to offer an extensive curriculum of ...

Oman-Hungary Business Forum Explores Boosting Investments, Trade Exchange Muscat, 24 Oct (ONA) --- The Oman-Hungary Business Forum, held here today, explored opportunities to enhance investment and trade exchange between the two countries. The event was organized by Oman Chamber of Commerce and Industry (OCCI). The forum also reviewed means of striking partnerships between Omani and Hungarian businesspeople. It also highlighted available opportunities in the Sultanate of Oman, especially in economic diversification sectors which are targeted by Oman Vision 2040. ...

OQGN Shares Traded on Muscat Stock Exchange Muscat, 24 Oct (ONA) --- Investors began today trading the shares of OQGN after 49% of the company’s shares were listed on Muscat Stock Exchange (MSX). The bell-ringing event was held under the patronage of Eng. Salim Nasser Al Aufi, Minister of Energy and Minerals. OQGN’s market value upon listing reached RO 606 million, thus becoming the 3rd biggest company listed on MSX. The listing price was 140 baizas per share. The stock saw a great turnout from investors in Oman and beyond. Eng. Abdullah Salim Al Salmi, ...

Oman Oil Price Drops 1.99 US Dollars Muscat, 24 Oct (ONA) --- Oman oil price (December delivery 2023) today reached 90.36 US Dollars, comprising a drop by 1.99 US Dollars from the price of yesterday (Monday), which stood at 92.35 US Dollars. The average price of Oman oil (October delivery 2023) has stabilized at 86.57 US Dollars per barrel, thus 6.03 US Dollars per barrel higher than September delivery ...

New Law Constitutes Shift Forward in Regulating Oman’s Tourism Sector: Minister Muscat, 23 Oct (ONA) --- Salim Mohammed Al Mahrouqi, Minister of Heritage and Tourism, said that the new tourism law sets the general framework for organizing the tourism sector, which, he said, is undergoing rapid development. He added that the law was redrafted in a manner that accommodates the sector’s continuous growth without resorting to the continuous modification of the legislation itself. In a statement to the press, the minister pointed out that the tourism law constitutes a shift ...

Tender Results of Government Treasury Bills Worth RO 39 Million Issued Muscat, 23 Oct (ONA) --- The total issuance of Government Treasury Bills amounted to RO 39 million. The value of the allotted Treasury bills amounted to RO 39 million, for a maturity period of 91 days. The average accepted price reached RO 98.674 for every RO 100, and the minimum accepted price arrived at RO 98.670 per RO 100. The average discount rate and the average yield reached 5.31970% and 5.39121%, respectively. Treasury Bills are short-term highly secured financial instruments issued by the Ministry ...

MSX Gains 1 PointMuscat, 23 Oct (ONA) --- Muscat Stock Exchange (MSX) general index (30) today gained (1.5) point, comprising a rise by (0.03%) to close at (4641.60) points, compared to the last session, which stood at (4640.11) points.The trading value today stood at (RO 2,444,401), comprising a decline by (91.2%), compared to the last session, which stood at (RO 27,913,281).The report released by MSX pointed out that the market value went down by (1.823%) to reach about (RO 23.10) billion.The report added that the value of shares bought by non-Omani investors reached (RO 707,000), ...

Oman LNG Inks Shareholders, Gas Supply Agreements Muscat, 23 Oct (ONA) --- Oman LNG, a joint venture of Oman Investment Authority (OIA), signed today crucial shareholders and gas supply agreement. These agreements solidify Oman LNG's position as a key player in the global LNG market and demonstrate its commitment to long-term growth and sustainability. Amongst the agreements signed are Oman LNG’s Shareholders Agreement, Qalhat LNG’s Shareholders Agreement, as well as the Gas Supply Agreement between Oman LNG and the Integrated Gas Company (IGC) for the supply of feed gas ...

Oman Oil Price Drops 1.11 US DollarsMuscat, 23 Oct (ONA) --- Oman oil price (December delivery 2023) today reached 92.35 US Dollars, comprising a drop by 1.11 US Dollars from the price of last (Friday), which stood at 93.46 US Dollars.The average price of Oman oil (October delivery 2023) has stabilized at 86.57 US Dollars per barrel, thus 6.03 US Dollars per barrel higher than September delivery 2023. --- Ends/Thuraiya/Anas ...

Rakiza Fund Acquires 39% Stake of ITHCA Group’s Shares in Oman Broadband Company Muscat, 22 Oct (ONA) --- Oman infrastructure Fund “Rakiza” acquired a 39% stake from ITHCA Group’s share in Oman Broadband Company, the government’s arm in the development of broadband infrastructure in the Sultanate of Oman Eng. Said Al Mandhari, CEO of ITHCA Group said that: “This marks a significant achievement in the Group’s plan to divest certain assets and utilize the resulting capital gains in advancing state-of-the-art technologies.” He added that “Oman Broadband Company ...

Agreement Inked to Conduct Joint Study for Green Hydrogen Fueling Stations in Duqm Muscat, 22 Oct (ONA) --- An agreement was signed here today between OQ Group, the Ministry of Transport, Communication and Information Technology, ASYAD Group, Oman Oil Marketing Company and Air Liquide Group. The agreement aims to conduct a joint study pilot project on green hydrogen fueling stations in the economic zone in Duqm (SEZAD). This move is undertaken due to the abundance of solar and wind energy resources in the region, in addition to its strategic location and proximity to target ...

Oman Participates in GCC-China Economic and Trade Ministers’ Meeting Guangzhou, 22 Oct (ONA) ---- The Sultanate of Oman took pat in the 1st session meeting of the GCC-China Economic and Trade Ministers, which was held in Guangzhou, China, today with the participation of Jassim Mohammed Al Bidaiwi, GCC Secretary General. The meeting discussed a set of topics related to the economic and commercial aspect to enhance joint Gulf-Chinese action, including the smooth flow of intra-regional trade. Oman’s delegation was chaired by Qais Mohammed Al Yousef, Minister of Commerce, ...

MSX Drops 41 PointsMuscat, 22 Oct (ONA) --- Muscat Stock Exchange (MSX) general index (30) today lost (41.2) points, comprising a drop by (0.88%) to close at (4640.11) points, compared to the last session, which stood at (4681.31) points.The trading value today stood at (RO 27,913,281), comprising a surge by (995.3%), compared to the last session, which stood at (RO 2,548,425).The report released by MSX pointed out that the market value went down by (0.614%) to reach about (RO 23.53) billion.The report added that the value of shares bought by non-Omani investors reached ...

Joint Meeting Held to Develop Investment in GovernoratesMuscat, 19 Oct (ONA) --- The Ministry of Commerce, Industry and Investment Promotion held a joint meeting in Muscat today with governors to round up efforts made to develop the investment and business environment in the governorates of the Sultanate of Oman.The meeting discussed steps made to attract foreign and domestic investments in Omani governorates. These include initiatives undertaken by the Ministry in the sectors of commerce and industry, the application of specifications and standards for investment promotion, the ...

MSX Drops 22 PointsMuscat, 19 Oct (ONA) --- Muscat Stock Exchange (MSX) general index (30) today lost (22.8) points, comprising a drop by (0.48%) to close at (4681.31) points, compared to the last session, which stood at (4704.13) points.The trading value today stood at (RO 2,548,425), comprising a decline by (23.5%), compared to the last session, which stood at (RO 3,333,156).The report released by MSX pointed out that the market value went down by (0.194%) to reach about (RO 23.68) billion.The report added that the value of shares bought by non-Omani investors reached ...

Delegation from Korea’s “SK Hynix” Visits Oman to Explores Investment Opportunities in Semiconductors Field Muscat, 19 Oct (ONA) --- A delegation from Korea’s SK Hynix company, headed by Kwak Noh-Jung, CEO of the company, today visited the Sultanate of Oman. The visit aims to explore investment opportunities in the field of semi-conductors and electronic chips in the Sultanate of Oman. The visit programme included conducting meetings with several ministers and undersecretaries. During those meeting, investment opportunities in the Omani market were reviewed and offered ...

Oman Oil Price Drops 1.42 US Dollars Muscat, 19 Oct (ONA) --- Oman oil price (December delivery 2023) today reached 91.20 US Dollars, comprising a drop by 1.42 US Dollars from the price of yesterday (Wednesday), which stood at 92.62 US Dollars. The average price of Oman oil (October delivery 2023) has stabilized at 86.57 US Dollars per barrel, thus 6.03 US Dollars per barrel higher than September delivery 2023. --- Ends/Anas ...

Oman Oil Price Rises 1.89 US Dollars Muscat, 18 Oct (ONA) --- Oman oil price (December delivery 2023) today reached 92.62 US Dollars, comprising a rise by 1.89 US Dollars from the price of yesterday (Tuesday), which stood at 90.73 US Dollars. The average price of Oman oil (October delivery 2023) has stabilized at 86.57 US Dollars per barrel, thus 6.03 US Dollars per barrel higher than September delivery 2023. --- Ends/AH ...

Fertilizer Conference, Expo Review Technological Updates, Green Transition Muscat, 17 Oct (ONA) --- Activities of the 35th edition of the Fertilizer Industry Technology Conference and Exhibition began in Muscat today. The three-day event, held under the slogan “Achieving carbon neutrality”, aims at highlighting the latest technological developments in the field, including digital solutions and green transition efforts. It is organized by the Arab Fertilizer Association in cooperation with the Omani-Indian Fertilizer Company (OMIFCO). The opening of the conference and ...

Executive Committee Overseeing Al Dhahirah Economic Zone Discusses Establishment of Omani-Saudi Company Duqm, 17 Oct (ONA) —— The Executive Committee overseeing the development of the Integrated Economic Zone at Al Dhahirah Governorate (EZAD) today held its second meeting in 2023 under the chairmanship of Eng. Ahmed Hassan Al Dheeb, Deputy Chairman of the Public Authority for Special Economic Zones and Free Zones (OPAZ) and Chairman of the committee. During the meeting, the Committee discussed the status of the establishment of the Omani-Saudi Company, which will manage and ...