News

South Asia Projected to Grow by Nearly 6pc in 2023 New Delhi, 3 Oct (ONA) --- South Asia is expected to grow by 5.8% in 2023, making it the fastest-growing region in the world even as the pace remains below pre-pandemic levels, the World Bank said today. The latest South Asia Development Update from the World Bank projected growth in the region to slow slightly to 5.6% in 2024 and 2025, as post-pandemic rebounds fade and reduced global demand weighs on economic activity. At almost 6% this year, the region is growing faster than all other emerging markets, ...

MSX Gains 4 PointsMuscat, 3 Oct (ONA) --- Muscat Stock Exchange (MSX) general index (30) today gained (4.1) points, comprising a rise by (0.09%) to close at (4739.61) points, compared to the last session, which stood at (4735.48) points.The trading value today stood at (RO 1,236,032), comprising a surge by (78.3%), compared to the last session, which stood at (RO 693,391).The report released by MSX pointed out that the market value went up by (0.073%) to reach about (RO 23.59) billion.The report added that the value of shares bought by non-Omani investors reached (RO 61,000), ...

Oman Participates in 12th Session of OIC Statistical Commission in Jeddah Jeddah, 3 Oct (ONA) --- The Sultanate of Oman, represented by the National Centre for Statistics and Information (NCSI), is taking part in deliberations of the 12th session of the Statistical, Economic and Social Research and Training Centre for Islamic Countries (SESRIC) of the Organization of Islamic Cooperation (OIC). The session’s meetings are held in Jeddah, the Kingdom of Saudi Arabia (KSA). The meetings touch on an array of topics listed on the agenda covering the usage of ...

Hotel Revenues Stand at More than RO 138 Million by August 2023Muscat, 3 Oct (ONA) --- The revenues of 3-5 star hotels in Oman by the end of August 2023 grew by 26.3% to RO 138,380,000 as against RO 109,535,000 by the end of August 2022.Statistics issued by the National Centre for Statistics and Information (NCSI) showed that the total number of hotel guests and tenants increased by 26.7% to 1,284,640 by the end of August 2023, compared to 1,013,876 in the corresponding period in 2022. Also, the rate of hotel occupancy grew by 10.4%.The NCSI statistics indicate a rising trend in the ...

Oman Oil Price Declines 1.99 US DollarsMuscat, 3 Oct (ONA) --- Oman oil price (December delivery 2023) today reached 91.01 US Dollars, comprising a decline by 1.99 US Dollars from the price of yesterday (Monday), which stood at 93 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 ...

OCCI Signs MoC with UNICEF Muscat, 2 Oct (ONA) --- Oman Chamber of Commerce and Industry (OCCI) today signed a memorandum of cooperation (MoC) with the UNICEF. The MoC is related to helping companies implement family-friendly measures to meet the need of parents to have adequate time, resources and services to care for their young children. The MoC was signed by Faisal Abdullah Al Rowas, OCCI Chairman and Sumaira Chowdhury, UNICEF Representative in the Sultanate of Oman. --- Ends/Khalid ...

Kuwait Hosts Programme on Tourism Promotion for Oman in GCC MarketKuwait, 2 Oct (ONA) --- Makeshift workshops to promote Oman in the GCC market kicked off here today. Organized by the Ministry of Heritage and Tourism, the programme seeks to introduce key features of Oman’s heritage and tourism landmarks and highlight them in the GCC market.The opening of the promotional programme was held under the auspices of Dr. Saleh Amer Al Kharousi, the Sultanate of Oman’s ambassador to the State of Kuwait.The programme, which runs until 5 October, fits with the objectives of Oman's ...

Tender Results of Government Treasury Bills Worth RO 27 Million Issued Muscat, 2 Oct (ONA) --- The total issuance of Government Treasury Bills amounted to RO 27 million. The value of the allotted Treasury bills amounted to RO 8 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 19 million, for a maturity ...

SAI Collects, Recovers RO 97.8 Million to State’s Public TreasuryMuscat, 2 Oct (ONA) --- The State Audit Institution (SAI) has issued a community brief highlighting results of its 2022 Annual Report.The report shed light on results of the financial and administrative audit conducted on some government units, authorities, investments and companies subject to SAI audit following fulfillment of procedures with those entities. The Brief also highlighted the efforts exerted by SAI in the promotion of integrity in 2022.The Community Brief is issued after SAI Chairman was honoured to submit the ...

OQGN Holds Concluding Roadshow in MSX Muscat, 2 Oct (ONA) --- OQ Gas Networks (OQGN) organized today at Muscat Stock Exchange (MSX) its final roadshow to introduce investors, citizens and residents to the system of subscribing in its shares and the targeted categories. The session was attended by a group of investors and businesspeople. The company floated up to 49% of its shares in an initial public offering (IPO), which provides an opportunity for investors to take part in the growth of OQGN. With its final session held in Muscat, the company concluded its roadshows that ...

MSX Gains 36 PointsMuscat, 2 Oct (ONA) --- Muscat Stock Exchange (MSX) general index (30) today gained (36.4) points, comprising a rise by (0.77%) to close at (4735.48) points, compared to the last session, which stood at (4699.08) points.The trading value today stood at (RO 693,391), comprising a decline by (53.3%), compared to the last session, which stood at (RO 1,483,505).The report released by MSX pointed out that the market value went up by (0.184%) to reach about (RO 23.58) billion.The report added that the value of shares bought by non-Omani investors reached (RO 38,000), ...

Foreign Assets at CBO Up By 27.4pc By July 2023Muscat, 2 Oct (ONA) --- Statistics issued by the National Centre for Statistics and Information (NCSI) show that total foreign assets at the Central Bank of Oman (CBO) grew by 27.4 percent to RO 6,855.6 million as at the end of July 2023, compared to the corresponding period in 2022 (constituting an increase of RO 5,382.7 million.Initial data issued by the NCSI showed that local liquidity stood at RO 21,362.6 million, an increase of 4.9 percent compared to the corresponding period in 2022.Narrow money supply, which consists of total ...

Oman Oil Price Declines 37 Cents Muscat, 2 Oct (ONA) --- Oman oil price (December delivery 2023) today reached 93 US Dollars, comprising a decline by 37 cents. 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 ...

Transport Ministry Launches Taxi Service Awareness CampaignMuscat, 1 Oct (ONA) --- The Ministry of Transport, Communications and Information Technology today launched a taxi service campaign under the slogan “Know Your Fare”.Many government departments participated in the three-phase campaign, which seeks to regulate the service of taxis, to secure the rights of customers and taxi drivers and to optimize the use of technical apps.The first phase began today, 1 October 2023, and it targets taxis operating at airports. The second phase will begin on 1 November 2023 and it targets ...

MSX Gains 20 PointsMuscat, 1 Oct (ONA) --- Muscat Stock Exchange (MSX) general index (30) today gained (20.9) points, comprising a rise by (0.45%) to close at (4699.08) points, compared to the last session, which stood at (4678.13) points.The trading value today stood at (RO 1,483,505), comprising a decline by (51.4%), compared to the last session, which stood at (RO 3,051,013).The report released by MSX pointed out that the market value went up by (0.135%) to reach about (RO 23.53) billion.The report added that the value of shares bought by non-Omani investors reached (RO 246,000), ...

ICV of Active Enterprises in Oman Exceeds RO 9 Billion by 2Q of 2023 Muscat, 1 Oct (ONA) --- The total in-country value (ICV) of active enterprises in the Sultanate of Oman during the second quarter of 2023 reached RO 9,090.7 million, according to the monthly bulletin issued by the National Centre for Statistics and Information (NCSI). The contribution of active enterprises in the Gross Domestic Product (GDP) at current prices during the second quarter of 2023 reached 90.1% compared to 86.1% for the second quarter of 2022. Further, the ICV of large enterprises reached RO 6,420.8 ...

Fisheries Development Oman to Participate in Global Fishery Forum, Seafood Expo in RussiaSaint Petersburg, 27 Sep (ONA) --- Fisheries Development Oman is taking part in the sixth edition of the Global Fishery Forum and Seafood Expo 2023, which is taking place in Saint Petersburg, in the Federal Republic of Russia, from 27 to 29 September.The expo, held in a site of more than 26,000 sqm, saw a turnout of more than 400 companies from 34 Russian regions and 14 countries.The event, attended by 139 speakers in the field, brings together many leaders of business sectors, businessmen and ...

Oman to Host Meeting of International Forum of Sovereign Wealth Funds in 2024Muscat, 27 Sep (ONA)--- Represented by Oman Investment Authority (OIA), the Sultanate of Oman will host the annual meeting of the International Forum of Sovereign Wealth Funds (IFSWF) in November 2024.Nasser Suleiman Al Harthy, Vice President of OIA for Operations, said that the meeting, scheduled to be held in Muscat, provides an opportunity to promote Oman and attract foreign investments.The forum will be attended by heads of the largest sovereign wealth funds in the world whose wealth exceeds $8 ...

Oman Celebrates World Tourism DayMuscat, 27 Sep (ONA) --- The Sultanate of Oman, represented by the Ministry of Heritage and Tourism, today celebrated the World Tourism Day, which falls on 27 September every year.To mark the day, Oman organized the second introductory meeting for travel and tourism offices and youth teams, with the prime aim of responding to security and safety requirements of adventure tourism activities.The celebration was held under the auspices of Salim Mohammed Al Mahrouqi, Minister of Heritage and Tourism.In the gathering held as part of Tourism Day ...

Oman Climbs 10 Places in Global Innovation Index 2023Muscat, 27 Sep (ONA) --- The Sultanate of Oman advanced 10 places in Global Innovation Index 2023 report, issued by the World Intellectual Property Organization (WIPO).Oman now ranks 69th globally in a scale of 132 countries shortlisted in accordance with 7 enabler pillars. Oman’s best performance was made in two enabler pillars: “Human Capital and Research” and “Infrastructure”.The results of the report showed the Sultanate of Oman’s progress in innovation sub-indices at a rate of 9 places.Oman was thus placed among ...

MSX Gains 9 PointsMuscat, 27 Sep (ONA) --- Muscat Stock Exchange (MSX) general index (30) today gained (9.1) points, comprising a rise by (0.20%) to close at (4678.13) points, compared to the last session, which stood at (4669.02) points.The trading value today stood at (RO 3,051,013), comprising an increase by (28.2%), compared to the last session, which stood at (RO 2,380,245).The report released by MSX pointed out that the market value went up by (0.050%) to reach about (RO 23.50) billion.The report added that the value of shares bought by non-Omani investors reached (RO 85,000), ...

OQGN Announces 40% Coverage of Category 1 IPO Offering Muscat, 27 Sep (ONA) --- OQ Gas Networks (OQGN) announced that the institutional tranche, comprising 40% of the total offering, has been covered multiple times on the very first day of the IPO subscription period. This impressive response demonstrates the high level of demand for shares in OQ Gas Networks Company among institutional investors. The Category 1 offer, designated for institutional investors, has been covered multiple times at the maximum price of 140bz, as of the close of business on the initial day of the book ...

Oman Oil Price Rises 1.74 US Dollars Muscat, 27 Sep (ONA) --- Oman oil price (November delivery 2023) today reached 94.31 US Dollars, comprising a rise by 1.74 US Dollars from the price of yesterday (Tuesday), which stood at 92.57 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 ...

MSX Gains 4 Points Muscat, 26 Sep (ONA) --- Muscat Stock Exchange (MSX) general index (30) today gained (4.3) points, comprising a rise by (0.09%) to close at (4669.02) points, compared to the last session, which stood at (4664.68) points. The trading value today stood at (RO 2,380,245), comprising an increase by (7.9%), compared to the last session, which stood at (RO 2,206,247). The report released by MSX pointed out that the market value went up by (0.067%) to reach about (RO 23.49) billion. The report added that the value of shares bought by non-Omani investors ...

Facility Building Inaugurated in Al Rusayl Industrial City Muscat, 26 Sep (ONA) --- The Public Establishment for Industrial Estates "Madayn" celebrated today the inauguration of the Facility Building in Al Rusayl Industrial City, a project valued at RO 6.5 million. The inauguration ceremony was held under the auspices of Eng. Dawood Salim Al Hadabi, CEO of Madayn, with the attendance of officials from the public and private sectors, investors and business owners. The project highlights Madayn’s strong commitment to enhancing the Sultanate of Oman’s thriving ...

Oman Oil Price Declines 1.62 US Dollars Muscat, 26 Sep (ONA) --- Oman oil price (November delivery 2023) today reached 92.57 US Dollars, comprising a decline by 1.62 US Dollars from the price of yesterday (Monday), which stood at 94.19 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/Anas ...

Omani Economy Witnesses Growth In Fixed Prices by 2.1pc in First Half of 2023 Muscat, 25 Sep (ONA) ---- Dr. Said Mohammed Al Saqri, Minister of Economy has affirmed the recovery of the Omani economy from the impact of the Covid-19 pandemic. This, said the minister, reflects positive developments in the performance of overall indicators, as the Omani economy witnessed a growth in fixed prices, amounting to 2.1 percent during the first half of 2023. In his speech during the media gathering organized by the Ministry of Economy today, the minister explained that this rise was ...

Fitch Upgrades Oman’s Credit Rating to BB+, with Stable OutlookNew York, 25 Sep (ONA) --- Fitch today issued its credit rating report on the Sultanate of Oman, upgrading the country’s rating to “BB+”, with a stable outlook.The positive development in the classification reflects the tangible efforts made by the government in maintaining control over public spending, utilizing additional oil revenues to cut down the state’s public debt and manage the country’s lending portfolio.Fitch pointed out that a key factor in the upgrade was the Omani government’s sustained ...

Tender Results of Government Treasury Bills Worth RO 10 Million Issued Muscat, 25 Sep (ONA) --- The total issuance of Government Treasury Bills amounted to RO 10 million. The value of the allotted Treasury bills amounted to RO 10 million, for a maturity period of 91 days. The average accepted price reached RO 98.689 for every RO 100, and the minimum accepted price arrived at RO 99.685 per RO 100. The average discount rate and the average yield reached 5.26041% and 5.33032%, respectively. The Treasury Bills are short-term highly secured financial instruments issued by the ...

MSX Drops 14 Points Muscat, 25 Sep (ONA) --- Muscat Stock Exchange (MSX) general index (30) today lost (14.3) points, comprising a drop by (0.31%) to close at (4664.68) points, compared to the last session, which stood at (4679.02) points. The trading value today stood at (RO 2,206,247), comprising a decline by (39.2%), compared to the last session, which stood at (RO 3,626,269). The report released by MSX pointed out that the market value went down by (0.057%) to reach about (RO 23.47) billion. The report added that the value of shares bought by non-Omani investors ...