News

MSX Gains 43 PointsMuscat, 13 Apr (ONA) --- Muscat Stock Exchange (MSX) general index (30) today gained (43.8) points, comprising a rise by (0.92%) to close at (4811.17) points, compared to the last session, which stood at (4767.37) points.The trading value today stood at (RO 1,203,333), comprising a drop by (58.1%), compared to the last session, which stood at (RO 2,869,700).The report released by MSX pointed out that the market value went up by (0.260%) to reach about (RO 23.82) billion.The report added that the value of shares bought by non-Omani investors reached (RO 436,000), ...

Global Stocks Rise as US Inflation Moderates Beijing, 13 Apr (ONA) --- Global stocks mostly increased today after U.S. inflation eased and Federal Reserve officials expecting fewer interest rate hikes in 2023. Tokyo, Hong Kong and Paris rose while Shanghai declined. London and Frankfurt opened with little change. Oil prices edged lower. Wall Street futures were higher after government data showed U.S. inflation declined to 5% in March from the previous month’s 6%. In early trading, the FTSE in London held steady at 7,820.05. The DAX in Frankfurt was little-changed ...

Oman Oil Price Rises 1.73 US Dollar Muscat, 13 Apr (ONA) --- Oman oil price (June Delivery 2023) today reached 87.28 US Dollars, comprising a rise by 1.73 US Dollar from the price of yesterday (Wednesday), which was 85.55 US Dollars. The average price of Oman oil (April Delivery 2023) has stabilized at 82.23 US Dollars per barrel, thus 1.31 US Dollar per barrel higher than March Delivery 2023. --- Ends/Anas ...

MSX Drops 1 PointMuscat, 12 Apr (ONA) --- Muscat Stock Exchange (MSX) general index (30) today lost (1.2) point, comprising a drop by (0.02%) to close at (4767.37) points, compared to the last session, which stood at (4768.55) points.The trading value today stood at (RO 2,869,700), comprising a decline by (15.3%), compared to the last session, which stood at (RO 3,387,687).The report released by MSX pointed out that the market value went up by (0.038%) to reach about (RO 23.76) billion.The report added that the value of shares bought by non-Omani investors reached (RO 235,000), ...

Cooperation Programme Inked to Boost Local Added Value at Economic, Free, Industrial Zones Muscat, 12 Apr (ONA) --- The Public Authority for Special Economic Zones and Free Zones (OPAZ) signed a cooperation programme with the Industrial Innovation Academy aimed at boosting local added value, empower special economic, free and industrial zones affiliated with OPAZ and improve the efficiency of national cadres. The programme was signed by Eng. Ahmed Hassan Al Dheeb, Deputy Chairman of OPAZ, and Dr. Ayman Abdullah Al Fudaili, Acting CEO of the Industrial Innovation ...

363 Tourism Projects across Governorates of Oman with Investment Value of RO 2.29 Billion Muscat, 12 Apr (ONA) --- The Ministry of Heritage and Tourism (MHT), revealed that the investment position of the projects that are under implementation, which were agreed upon, with various segments of investors in the public and private sectors, during the period of 2021 to 2025, reached 363 projects across all the governorates of the Sultanate of Oman, with a total value of RO 2.290 billion. The Ministry of Heritage and Tourism targets to reach RO 3 billion worth investments in the ...

Agreement Signed to Manage, Operate Fish Farming Centre at Al Bustan Muscat, 12 Apr (ONA) --- An agreement was inked here today between the Ministry of Agriculture, Fisheries and Water Resources and Fisheries Development Oman (FDO) for FDO to handle managing and operating the Ministry’s fish farming centre at Al Bustan area. The agreement aims to commercially manage and operate the centre. It is also expected to contribute to producing approximately 9 million of marine fish fry. The agreement targets boosting cooperation in carrying out research in the field of fish ...

Oman Charitable Organization Exempted from Ground Handling CostsMuscat, 12 Apr (ONA) --- A memorandum of understanding (MoU) was signed between Oman SATS Company and Oman Charitable Organization (OCO) to exempt ground handling costs for OCO. The MoU comes within the framework of supporting humanitarian efforts provided by OCO in various countries of the world through Muscat International Airport. The MoU was signed by Sheikh Aymen Ahmed Al Hosni, Chairman of Oman SATS and Mohammed Hamoud Al Dihli, CEO of OCO. --- Ends/AG ...

CBO Issues 68th Government Development Bonds Muscat, 12 Apr (ONA) --- The Central Bank of Oman announced a new issue of Government development bonds (GDB). The size of the new issue stands at RO 75 million with a maturity period of 5 years and will carry a coupon rate of 5.25% annually. The issue will be open for subscription from 16 April to 1 May 2023, while the auction will be held on 2 May 2023. The issue settlement date will be on 4 May, 2023. Interest on the new bonds will be paid semiannually on 4 November and 4 May, every year until the maturity date on 4 May ...

Asyad Line Adds New Vessel, Operates Additional Weekly Frequency of IEX Muscat, 12 Apr (ONA) --- Asyad Line, part of Asyad Group, announced two new additions to its maritime and shipping capabilities, a brand-new vessel added to its sizeable commercial fleet and an increase in the frequency of one of its flagship lines, the India Express Service (IEX). Eyeing both sustainability and improved competitiveness in the maritime sector, Asyad Line acquired the state-of-the-art vessel. The vessel features a capacity of 2800 TEU and excellent environmental efficiency rating, thanks to ...

Oman Air Announces Double Daily Flights to Istanbul and Daily Flights to Trabzon Muscat, 12 Apr (ONA) --- With summer approaching, Oman Air, the national airline of the Sultanate of Oman, has announced the expansion of its flight offerings to Turkey. In response to the growing demand for travel to this popular destination, the airline has re-launched its popular Trabzon route and is increasing the frequency of its flights to Istanbul, providing guests with more options and flexibility during the peak season. As of June, holiday-goers can choose from twice daily flights to ...

Oman Oil Price Rises 1.01 US DollarMuscat, 12 Apr (ONA) --- Oman oil price (June Delivery 2023) today reached 85.55 US Dollars, comprising a rise by 1.01 US Dollar from the price of yesterday (Tuesday), which was 84.54 US Dollars.The average price of Oman oil (April Delivery 2023) has stabilized at 82.23 US Dollars per barrel, thus 1.31 US Dollar per barrel higher than March Delivery 2023. --- Ends/Thuraiya/Anas ...

Fitch Revises Oman’s Outlook to Positive, Affirms its Rating at ‘BB’ Muscat, 11 Apr (ONA) --- Fitch Ratings has revised Oman’s outlook to positive from stable and affirmed the rating at ‘BB’, in a report issued today. According to Fitch, the positive outlook reflects a significant reduction in Oman’s debt to GDP as a result of fiscal consolidation measures, high oil prices and the associated reduction of external liquidity risks. The agency said that the measures taken by the government helped to contain public debt, stating that the debt to GDP fell from 61% ...

MSX Gains 26 Points Muscat, 11 Apr (ONA) --- Muscat Stock Exchange (MSX) general index (30) today gained (29.3) points, comprising a rise by (0.62%) to close at (4768.55) points, compared to the last session, which stood at (4739.28) points. The trading value today stood at (RO 3,387,687), comprising a surge by (112.6%), compared to the last session, which stood at (RO 1,593,173). The report released by MSX pointed out that the market value went up by (0.068%) to reach about (RO 23.75) billion. The report added that the value of shares bought by non-Omani investors ...

Executive Committee Formed for Integrated Economic Zone Project in Al Dhahirah Muscat, 11 Apr (ONA) --- The Public Authority for Special Economic Zones and Free Zones (OPAZ) has issued a decision to form an executive committee to oversee the development project of the Integrated Economic Zone in Al Dhahirah Governorate. The executive committee is chaired by Eng. Ahmed Hassan Al Deeb, OPAZ Deputy Chairman. It includes a number of officials from OPAZ and from the Saudi side members from the Ministry of Investment, the Economic Cities and Special Economic Zones Authority and the ...

Tender Results of Government Treasury Bills worth RO 44 Million Issued This Week Muscat, 11 Apr (ONA) --- The total issuance of Government Treasury Bills amounted RO 44 Million. The value of the allotted Treasury bills amounted to RO 24 million, for a maturity period of 28 days. The average accepted price reached RO 99.638 for every RO 100, and the minimum accepted price arrived at RO 99.635 per RO 100. The average discount rate and the average yield reached 4.71458% and 4.73170%, respectively. Whereas, the value of the allotted Treasury bills amounted to RO 20 million, for ...

World Shares Increase Ahead of US Inflation Data New York, 11 Apr (ONA) --- Shares gained momentum in Europe and Asia today ahead of the release of the US consumer inflation data. The CAC 40 in Paris added 0.7% to 7,376.77 and the DAX in Germany gained 0.5% to 15,672.21. Britain’s FTSE 100 rose 0.4% to 7,771.43. The future for the S&P 500 edged up 0.1% while that for the Dow Jones Industrial Average was up less than 0.1%. In Tokyo, the Nikkei 225 index gained 1.1% to 27,923.37. Hong Kong’s Hang Seng added 0.8% to 20,485.24, while the Australia’s S&P/ASX ...

Oman Oil Price Drops 17 CentsMuscat, 11 Apr (ONA) --- Oman oil price (June Delivery 2023) today reached 84.54 US Dollars, comprising a drop by 17 cents from the price of yesterday (Monday), which was 84.71 US Dollars.The average price of Oman oil (April Delivery 2023) has stabilized at 82.23 US Dollars per barrel, thus 1.31 US Dollar per barrel higher than March Delivery 2023. --- Ends/Anas ...

Ministry of Commerce Outlines Plan for Year 2023Muscat, 10 Apr (ONA) --- As many as 989,960 transactions were finalized through Invest Easy portal during 2022, an increase of about 23.1 percent compared to 2021.The number of commercial registrations stood at 393,124, up by 15.3 percent over the number registered in 2021.This was unveiled by the ministry during its annual media meeting held in Muscat today.The ministry’s statistics show that 1,600 obtained the Investor Residency Card by March 2023.The Ministry announced that the name of "Invest Easy" portal will be changed to ...

MSX Drops 26 Points Muscat, 10 Apr (ONA) --- Muscat Stock Exchange (MSX) general index (30) today lost (26) points, comprising a drop by (0.55%) to close at (4739.28) points, compared to the last session, which stood at (4765.30) points. The trading value today stood at (RO 1,593,173), comprising a rise by (21.5%), compared to the last session, which stood at (RO 1,311,407). The report released by MSX pointed out that the market value went up by (0.051%) to reach about (RO 23.73) billion. The report added that the value of shares bought by non-Omani investors reached ...

State’s Public Revenues Up by 12pc as at February 2023 Muscat, 10 Apr (ONA) --- The state’s public revenue by the end of February 2023 amounted to RO 2,148 million, up by 12% when compared to RO 1,918 million registered over the same period in 2022, according to the Fiscal Performance Monthly Bulletin Published by the Ministry of Finance. This is mainly attributed to an increase in oil and gas revenues, representing 78% of total public revenue, and an increase of current revenue by 51%. Net oil revenue at the end of February 2023 amounted to RO 1,153 million, up by 5% ...

Oman Oil Price Rises 81 Cents Muscat, 10 Apr (ONA) --- Oman oil price (June Delivery 2023) today reached 84.71 US Dollars, comprising a rise by 81 cents from the price of last (Friday), which was 83.90 US Dollars. The average price of Oman oil (April Delivery 2023) has stabilized at 82.23 US Dollars per barrel, thus 1.31 US Dollar per barrel higher than March Delivery 2023. --- Ends/Anas ...

Leading Japanese Companies Invest at Duqm to Establish Metallics ProjectDuqm, 10 Apr (ONA) --- The Public Authority for Special Economic Zones and Free Zones (OPAZ) signed a Memorandum of Understanding (MoU) with Kobe Steel, a leading Japanese steel manufacturer, and Mitsui & Co. Ltd., a global trading investment company, to develop low CO2 iron metallics project in the Special Economic Zone at Duqm (SEZAD). Moreover, Kobe Steel and Mitsui signed a land reservation agreement with Port of Duqm Company and inked another MoU with the Centralized Utilities Company (Marafiq), to ...

Financial, Economic Indicators in Oman Economic Performance Show Improvement Muscat, 9 Apr (ONA) --- The Ministry of Economy has affirmed that financial and economic indicators for 2022 and during the first quarter of 2023 reflect the potential of Oman’s economy to overcome challenges and set the economy as a basis for thriving and competitiveness. Dr. Nasser Rashid Al Ma’awali, Undersecretary of the Ministry of Economy, said that the current economic indicators are important gains for Oman’s economy, which will reflect positively on the economic development ...

Memorandum Signed to Establish Musandam Fish Farming Company Muscat, 9 Apr (ONA) --- Musandam Global Investment Company and foreign investors today signed a memorandum on binding commercial conditions and incorporation documents of "Musandam Fish Farming Company". Inked at Invest Oman Lounge, the memorandum provides for establishing an integrated marine fish farming project in open waters in Musandam Governorate. The project, scheduled to begin this year (2023), is aimed at producing an annual amount of more than 3,500 tons of various types of fish intended for export ...

MSX Gains 8 Points Muscat, 9 Apr (ONA) --- Muscat Stock Exchange (MSX) general index (30) today gained (8.9) points, comprising a rise by (0.18%) to close at (4765.30) points, compared to the last session, which stood at (4765.36) points. The trading value today stood at (RO 1,311,407), comprising a decline by (9.7%), compared to the last session, which stood at (RO 1,452,485). The report released by MSX pointed out that the market value went up by (0.044%) to reach about (RO 23.75) billion. The report added that the value of shares bought by non-Omani investors reached ...

OIA Offers Investment Opportunities Worth Over RO 1.5 Billion Muscat, 9 Apr (ONA) --- Oman Investment Authority (OIA) announced 36 investment opportunities worth RO 1.5 billion and covering various industries, available in the Invest Oman lounge. Hisham Ahmed Al Sheedi, Director General of Economic Diversification at OIA said that these investment opportunities will potentially ensure better alignment and synergy between OIA and other government and private entities. He noted that the opportunities are distributed across several key investment sectors, including technology, ...

Ministerial Decision Regulates Consumer Cooperatives Activity Muscat, 9 Apr (ONA) --- The Ministry of Commerce, Industry and Investment Promotion today issued a ministerial decision regulating the business of activity of consumer cooperatives. The decision seeks to achieve a set of goals. It aims at legalizing the practice of this activity, promoting Omani products, establishing new supply chains, supporting national industries, developing governorates and providing new investment opportunities in this sector. The regulation consummates the “National Product Support ...

Hotel Revenues Exceed RO 49 Million by February 2023 Muscat, 9 Apr (ONA) --- The revenues of 3-5 star hotels in the Sultanate of Oman recorded a rise by 68% to reach RO 49.427 million by the end of February 2023 compared to the corresponding period in 2022 when it stood at RO 29.429 million, according to the latest data issued by the National Centre for Statistics and Information (NCSI). The number of 3-5 star hotels’ guests stood at 357,810, comprising an increase by 37.4% till the end of February 2023 compared to 260,450 guests during the same period in ...

MSX Drops 45 PointsMuscat, 6 Apr (ONA) --- Muscat Stock Exchange (MSX) general index (30) today dropped (45.1) points, comprising a fall by (0.94%) to close at (4756.36) points, compared to the last session, which stood at (4801.44) points.The trading value today stood at (RO 1,452,485), comprising a decline by (98.1%), compared to the last session, which stood at (RO 77,164,005).The report released by MSX pointed out that the market value went down by (0.259%) to reach about (RO 23.74) billion.The report added that the value of shares bought by non-Omani investors reached (RO 349,000), ...