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MSX Gains 8 Points Muscat, 17 Oct (ONA) --- Muscat Stock Exchange (MSX) general index (30) today added (8.9) points, comprising a rise by (0.19%) to close at (4723.47) points, compared to the last session, which stood at (4714.59) points. The trading value today stood at (RO 4,261,713), comprising a decline by (22.9%), compared to the last session, which stood at (RO 5,479,323). The report released by MSX pointed out that the market value went up by (1.129%) to reach about (RO 23.80) billion. The report added that the value of shares bought by non-Omani investors reached ...

Duqm Economic Forum Concludes Duqm, 17 Oct (ONA) —- Deliberations of the 1st Duqm Economic Forum were concluded today. The two-day event included several discussion panels which highlighted the future of green industries in the Special Economic Zone in Duqm (SEZAD) and its future growth prospects. The forum discussed Oman’s potential to become a renewables superpower and the role of Duqm in making Oman an international source of carbon-free energy, giving the country a competitive edge in the green energy field. Meanwhile, several CEOs and businesspeople, ...

Duqm Forum Highlights SEZAD as Global Business Hub 17 Oct (ONA) --- The 1st Duqm Economic Forum today highlighted the economic scene in the Sultanate of Oman and the future prospects for the Special Economic Zone in Duqm (SEZAD). The second day of the forum included two discussion sessions. The first one highlighted SEZAD’s potentials as a centre for economy, business and industry. It also showcased the zone’s role as a main hub for global business inflow. The second session focused on the role of transformation to green energy in the production of petrochemicals and related ...

Oman Oil Price Declines 43 Cents Muscat, 17 Oct (ONA) --- Oman oil price (December delivery 2023) today reached 90.73 US Dollars, comprising a decline by 43 cents from the price of yesterday (Monday), which stood at 91.16 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 ...

HH Sayyid Bilarab Chairs Meeting of Omani Startups’ Supervisory Committee Muscat, 16 Oct (ONA) --- HH Sayyid Bilarab bin Haitham Al Said, Honorary President of the Promising Omani Startups Programme, today chaired the 4th meeting of the Supervisory Committee of the Omani Promising Startups Programme 2023. The meeting was held in the presence of representatives of government departments who are members of the programme’s Supervisory Committee, as well as representatives of startup companies. The meeting discussed progress reports about the programme’s initiatives aimed ...

HH Sayyid Theyazin Meets CEOs of Global Companies Duqm, 16 Oct (ONA) —— HH Sayyid Theyazin bin Haitham Al Said, Minister of Culture, Sports and Youth met in Duqm today with some CEOs and Board Chairmen of global companies who are participating in Duqm Economic Forum, being organized in the Special Economic Zone in Duqm (SEZAD). At the outset of the meeting, HH Sayyid Theyazin welcomed the CEOs. Then, he reviewed the investment opportunities available in the fields of renewable energy and clean energy, such as green hydrogen and green ammonia that come in line with ...

HH Sayyid Theyazin Presides Over Opening of Duqm Economic Forum Duqm, 16 Oct (ONA) —- HH Sayyid Theyazin bin Haitham Al Said, Minister of Culture, Sports and Youth presided today over the opening ceremony of the First Duqm Economic Forum. The two-day forum aims to highlight the economic milieu and investment opportunities in the Sultanate of Oman in general and the Special Economic Zone in Duqm (SEZAD) in particular. The event discusses new approaches in green industries and renewable energy, especially those attracted by SEZAD as part of its capacity as a centre for ...

MSX Drops 45 Points Muscat, 16 Oct (ONA) --- Muscat Stock Exchange (MSX) general index (30) today lost (45.6) points, comprising a drop by (0.96%) to close at (4714.59) points, compared to the last session, which stood at (4760.23) points. The trading value today stood at (RO 5,479,323), comprising a decline by (44.1%), compared to the last session, which stood at (RO 9,796,783). The report released by MSX pointed out that the market value went down by (0.383%) to reach about (RO 23.53) billion. The report added that the value of shares bought by non-Omani investors ...

Oman Airports to Organize Largest Aviation Hackathon “AEROHACK” Muscat, 16 Oct (ONA) ---- Oman Airports will organize tomorrow Tuesday “AEROHACK from Oman Airports” at Oman Convention and Exhibition Centre, which is the first hackathon of its kind in the Sultanate of Oman that is related to developing ideas in the airport sector. This event aims to attract an elite group of innovators, technology developers, designers, students, start-ups, small and medium-sized companies, and university students. Oman Airports seeks to adhere to its national commitment in promoting ...

IP-based Fixed Line Subscriptions Up By 7.5pc in August 2023 Muscat, 16 Oct (ONA) --- The total volume of IP-based fixed-line telephone subscriptions grew by 7.5 percent, while the number of mobile broadband Internet subscribers increased by 6.5 percent by the end of August 2023, compared to the corresponding period in 2022. Statistics issued by the National Centre for Statistics and Information (NCSI) showed that IP-based fixed-line telephone subscriptions totaled 279,137 by the end of August 2023, compared to 229,833 analogue fixed-line subscriptions, which dropped by 9 ...

Agreement Inked to Transport Raw Limestone from Oman to UAE Abu Dhabi, 16 Oct (ONA) ---- Oman and Etihad Rail Company (OER), the developer and operator of the Sultanate of Oman and United Arab Emirates (AUE) Rail Network, signed a Memorandum of Understanding (MoU) with Emirates Steel Arkan, the UAE’s largest steel and building materials manufacturer, to facilitate the export of raw materials from Oman to the UAE. Under this agreement, OER will provide logistics solutions to manage the transportation of raw limestone, which Emirates Steel Arkan plans to import from Oman to its ...

Oman Oil Price Rises 2.27 US Dollars Muscat, 16 Oct (ONA) --- Oman oil price (December delivery 2023) today reached 91.16 US Dollars, comprising a rise by 2.27 US Dollars from the price of last (Friday), which stood at 88.89 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 ...

Oman Participates in Annual Meeting of Arab Finance Ministers in Morocco Marrakesh, 15 Oct (ONA) ---- The Sultanate of Oman, represented by the Ministry of Finance, participated today in the annual meeting of the Arab Ministers of Finance, on the sidelines of the joint meetings of the World Bank group and the International Monetary Fund, being held Marrakesh, the Kingdom of Morocco. The meeting discussed the most important financial and economic issues of concern to the Arab countries and the applicable financial reform efforts, the development prospects in the Arab ...

CMA Issues Regulation for Marketing Insurance Products Through Banks Muscat, 15 Oct (ONA) --- The Capital Market Authority (CMA) today issued a decision endorsing a regulation for marketing insurance products through banks. The regulation serves as a framework for governance and regulation of the relationship between insurance companies and banks. It provides adequate protection for holders of insurance policies that are marketed and sold through banks. The regulation specifies the effective channels and mechanisms for marketing these products in a manner that ensures the ...

MSX Drops 25 Points Muscat, 15 Oct (ONA) --- Muscat Stock Exchange (MSX) general index (30) today lost (25.7) points, comprising a drop by (0.54%) to close at (4760.23) points, compared to the last session, which stood at (4785.98) points. The trading value today stood at (RO 9,796,783), comprising a surge by (214.5%), compared to the last session, which stood at (RO 3,115,163). The report released by MSX pointed out that the market value went down by (0.261%) to reach about (RO 23.62) billion. The report added that the value of shares bought by non-Omani investors reached ...

Bank Muscat Posts RO 158 Million Net Profit till September 2023 Muscat, 15 Oct (ONA) --- Bank Muscat announced its preliminary unaudited results for the nine months ended 30 September 2023. The Bank posted a net profit of RO 158.88 million for the period compared to RO 148.29 million reported during the same period in 2022, an increase of 7.1 percent. The key highlights of the results for the period are as follows: The Net Interest Income from Conventional Banking and Net Income from Islamic Financing stood at RO 280.98 million for the nine months period ended 30 ...

HH Sayyid Theyazin to Preside over Opening of Doqm Economic Forum this MondayMuscat, 14 Oct (ONA) —— HH Sayyid Theyazin bin Haitham Al Said, Minister of Culture, Sports and Youth will preside over the opening of the 1st Duqm Economic Forum, due to be held this Monday at the the Special Economic Zone at Duqm (SEZAD).The forum aims to highlight the economic environment in the Sultanate of Oman in general and available investment opportunities in SEZAD in particular.The two-day event reviews new trends in the green industries and renewable energy sector, as well as the most key projects ...

Over $10 Billion Investment in Duqm by OQ and its PartnersMuscat, 14 Oct (ONA) —— OQ, the global integrated energy group, in collaboration with its partners, has made investments surpassing$10 billionin Duqm. This significant contribution is part of their commitment to leveraging Oman's abundant resources, endorsing the government's economic diversification initiatives, and attracting foreign investments.These investments encompass several major projects. The Duqm Refinery stands out as a joint enterprise between OQ and Kuwait Petroleum International. Additionally, OQ has invested in the ...

MSX Rises 7 PointsMuscat, 12 Oct (ONA) --- Muscat Stock Exchange (MSX) general index (30) today gained (7.5) points, comprising a rise by (0.16%) to close at (4785.98) points, compared to the last session, which stood at (4778.48) points.The trading value today stood at (RO 3,115,163), comprising a rise by (63.3%), compared to the last session, which stood at (RO 1,908,045).The report released by MSX pointed out that the market value went up by (0.056%) to reach about (RO 23.68) billion.The report added that the value of shares bought by non-Omani investors reached (RO 484,000), ...

Labour Ministry Seminar Explores New Leadership Assessment CriteriaMuscat, 12 Oct (ONA) --- Acting in cooperation with the Omani Society for Human Resources Management (OSHRM), the Ministry of Labour today organized a symposium titled “Improving Leadership Capabilities” in government and private sectors.More than 250 general managers, executive directors and human resources and training managers took part in the symposium, which was held at Oman Convention and Exhibition Centre (OCEC), under the auspices of Labour Minister Dr. Mahad Said Ba’Owain.The symposium explored new ...

CMA Announces Allocation of OQGN Shares Muscat, 12 Oct (ONA) --- The Capital Market Authority (CMA) announced the approval of allocation of OQ Gas Networks (OQGN) shares based on the categories mentioned in the prospectus. The issue was oversubscribed by about 14 times at over RO 4 billion, whereas the overall size of the offering is RO 288.2 million. This reflects the confidence of local and foreign investors in the issuer and the Omani Capital Market in addition to the attractiveness of the national economy in general. The results of subscription show that the ...

Oman Oil Price Declines 1.02 US DollarsMuscat, 12 Oct (ONA) --- Oman oil price (December delivery 2023) today reached 87.16 US Dollars, comprising a decline by 1.02 US Dollars from the price of yesterday (Wednesday), which stood at 88.18 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 ...

Oman Participates in Annual Joint Meetings of World Bank, IMF Marrakesh, 11 Oct (ONA) --- The Sultanate of Oman, represented by the Central Bank of Oman (CBO) and the Ministry of Finance, takes part in the joint annual meetings of the World Bank and the International Monetary Fund (IMF) for 2023. The meetings, held in Marrakesh, Morocco, will run till 15 October 2023. The meetings discuss a spectrum of topics, namely sustainable development, combating poverty and global economy forecasts, among other financial, economic and social topics. Moreover, the activities held ...

Sohar Freezone Inks Agreement to Expand Automotive Logistics Operations Sohar, 11 Oct (ONA) --- Sohar Port and Freezone signed an expansion agreement with The Middle East Group (SFZ) LLC for the expansion of their Open Yard Car Storage Hub in Sohar Freezone. This expansion demonstrates Sohar Port and Freezone’s commitment to strengthening logistics capabilities and enhancing import and re-export operations. Originally established as a dedicated hub for automotive brands, this project has evolved to prioritize logistics excellence. By importing vehicles from ...

MoC Inked on Producing Sustainable Jet Fuel Muscat, 11 Oct (ONA) --- The Civil Aviation Authority (CAA) signed a memorandum of cooperation (MoC) with OQ Group and Sky Energy to study the possibility of developing a unit to produce sustainable jet fuel in the Sultanate of Oman. As per the MoC, the three parties will identify the requirements of setting up a unit in the field of producing sustainable jet fuel, building capacities and researching technologies used in producing green and sustainable jet fuel. This strategic cooperation reflects the joint vision to position Oman ...

Muscat Clearing and Depository Signs MoU with Qatar CDC Muscat, 11 Oct (ONA) --- Muscat Clearing and Depository (MCD) today signed a memorandum of understanding (MoU) with Edaa (Qatar CDC) dealing with cooperation and coordination among central depository units in the Sultanate of Oman and the State of Qatar. The MoU was signed by Mohammed Said Al Abri, CEO of MCD and Sheikh Saif Abdullah Al Thani, CEO of Edaa. The MoU aims to exchange knowledge and expertise in all fields related to central clearing and depository and settlements in a bid to keep pace with international ...

MSX Rises 10 PointsMuscat, 11 Oct (ONA) --- Muscat Stock Exchange (MSX) general index (30) today gained (10.2) points, comprising a rise by (0.21%) to close at (4778.48) points, compared to the last session, which stood at (4768.28) points.The trading value today stood at (RO 1,908,045), comprising a drop by (33.5%), compared to the last session, which stood at (RO 2,869,421).The report released by MSX pointed out that the market value went up by (0.048%) to reach about (RO 23.67) billion.The report added that the value of shares bought by non-Omani investors reached (RO 149,000), ...

Agreement Inked to Establish Polymer Products Factory in Samail Industrial City Muscat, 11 Oct (ONA) --- Oranss Technology Company and Mobel Polymers signed an agreement to establish a polymer products manufacturing factory in Samail Industrial City, with an investment value of USD 7 million for its initial phase. The signing ceremony was held on the sidelines of the two companies’ participation at the ongoing Home and Building Expo at Oman Convention and Exhibition Centre (OCEC).The agreement was signed by Sharifa Al Nu’amani, Chairperson of Oranss Technology Board of Directors, ...

Oman Oil Price Declines 32 CentsMuscat, 11 Oct (ONA) --- Oman oil price (December delivery 2023) today reached 88.18 US Dollars, comprising a decline by 32 cents from the price of yesterday (Tuesday), which stood at 88.50 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 ...

State Public Revenues Decrease by 15 Percent by End of August 2023 Muscat, 10 (ONA) --- Public revenue amounted to RO 7.923 billion at the end of August 2023 down by 15% when compared to an amount of RO 9.325 billion registered over the same period in 2022. The monthly bulletin published by the Ministry of Finance said that net oil revenue amounted to RO 4.145 billion at the end of August 2023 down by 10% when compared to RO 4.594 billion registered over the same period in 2022. Average oil price amounted to US$ 82 per barrel and average oil production reached 1,056,000 ...