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Economy
Oman, Austria Explore Cooperation Areas in Economic Fields

Oman, Austria Explore Cooperation Areas in Economic Fields Muscat, 20 Dec (ONA) --- Dr. Said Mohammed Al Saqri, Minister of Economy, received in his office today Dr. Martin Kocher, Federal Minister of Labour and Economy of the Republic of Austria and his accompanying delegation. During the meeting, the two sides discussed means of boosting mutual cooperation and relations. They also stressed the importance of exerting efforts to enhance economic and social integration between the two countries. Meanwhile, Eng. Said Hamoud Al Maawali, Minister of Transport, Communications ...

Oman Oil Price Rises 2.21 US Dollars

Oman Oil Price Rises 2.21 US Dollars Muscat, 20 Dec (ONA) --- Oman oil price (February delivery 2024) today reached 78.98 US Dollars, comprising a rise by 2.21 US Dollars from the price of yesterday (Tuesday), which stood at 76.77 US Dollars. The average price of Oman oil (December delivery 2023) has stabilized at 89.79 US Dollars per barrel, thus 2.98 US Dollars per barrel lower than November delivery ...

Oman, Austria Review Means of Boosting Trade Exchange

Oman, Austria Review Means of Boosting Trade Exchange Muscat, 19 Dec (ONA) --- Qais Mohammed Al Yousef, Minister of Commerce, Industry and Investment Promotion received at Invest Oman lounge today Dr. Martin Kocher, Federal Minister of Labour and Economy of the Republic of Austria. During the meeting, the two sides discussed areas of joint cooperation. They also reviewed means of enhancing bilateral relations, especially in the fields of commerce, industry and investment promotion in a bid to boost trade exchange. The meeting was attended by Pankaj Khimji, Advisor for ...

Tender Results of Government Treasury Bills worth RO 29.45 Million Issued

Tender Results of Government Treasury Bills worth RO 29.45 Million Issued Muscat, 19 Dec (ONA) --- The total issuance of Government Treasury Bills amounted to RO 29.45 million. The value of the allotted Treasury bills amounted to RO 10 million, for a maturity period of 28 days. The average accepted price reached RO 99.590 for every RO 100, and the minimum accepted price arrived at RO 99.590 per RO 100. The average discount rate and the average yield reached 5.34464% and 5.36665%, respectively. Whereas, the value of the allotted Treasury bills amounted to RO 19.45 million, for a ...

MSX Drops 17 Points

MSX Drops 17 Points Muscat, 19 Dec (ONA) --- Muscat Stock Exchange (MSX) general index (30) today lost (17.6) points, comprising a drop by (0.38%) to close at (4571.35) points, compared to the last session, which stood at (4588.92) points. The trading value today stood at (RO 3,777,343), comprising a drop by (32.6%), compared to the last session, which stood at (RO 5,607,285). The report released by MSX pointed out that the market value went down by (0.040%) to reach about (RO 23.89) billion. The report added that the value of shares bought by non-Omani investors reached ...

Oman Oil Price Rises 81 Cents

Oman Oil Price Rises 81 Cents Muscat, 19 Dec (ONA) --- Oman oil price (February delivery 2024) today reached 76.77 US Dollars, comprising a rise by 81 from the price of yesterday (Monday), which stood at 75.96 US Dollars. The average price of Oman oil (December delivery 2023) has stabilized at 89.79 US Dollars per barrel, thus 2.98 US Dollars per barrel lower than November delivery ...

Commerce and Industry Minister Holds Meeting with Indian Counterpart

Commerce and Industry Minister Holds Meeting with Indian CounterpartNew Delhi, 16 Dec (ONA) —— Qais Mohammed Al Yousef, Minister of Commerce, Industry and Investment Promotion met in New Delhi today with Piyush Goyal, Indian Minister of Commerce and Industry.The meeting came within the context of His Majesty Sultan Haitham bin Tarik’s current state visit to India.The meeting explored means of enhancing cooperation and boosting relations in areas of commerce and industry.The meeting was attended by Pankaj Khimji, Advisor for Foreign Trade and International Cooperation at the Ministry of ...

Oman, India Ink Agreement and MoUs

Oman, India Ink Agreement and MoUsNew Delhi, 16 Dec (ONA) —- on the occasion of the state visit of His Majesty Sultan Haitham bin Tarik to the Republic of India, the Sultanate of Oman and the Republic of India singed an agreement and memoranda of understanding (MoUs). They covered fields of culture, communications, information technology and exchanging financial information between the two sides.The two sides signed a memorandum of understanding between the Ministry of Culture, Sports and Youth and the Ministry of Culture of the Republic of India. It was signed from the Omani side by Issa ...

OIA Expands Cooperation with Indian Side By Establishing 3rd Joint Investment Fund

OIA Expands Cooperation with Indian Side By Establishing 3rd Joint Investment FundNew Delhi, 16 Dec (ONA) --- Oman Investment Authority (OIA) has expanded its cooperation with the Indian side by launching the third Omani-Indian Joint Fund with the State Bank of India.The agreement marking the establishment of the Fund was signed on the sidelines of the State Visit made by His Majesty Sultan Haitham bin Tarik to the Republic of India.Abdulsalam Mohammed Al Murshidi, OIA Chairman, said that the establishment of the third fund builds on the success of the first two joint funds with the Indian ...

Oman Post, India Post Release Joint Stamp

Oman Post, India Post Release Joint StampNew Delhi, 16 Dec (ONA) ——Oman Post, part of Asyad Group, and India Post launched a Joint Stamp issue that commemorates the cultural ties and longstanding friendship between the Sultanate of Oman and the Republic of India.The joint stamp launch coincided with the state visit of His Majesty Sultan Haitham bin Tarik to the Republic of India.Members of the executive management from both Oman Post and India Post attended the event.The stamp highlights the strong economic and deep cultural connections between Oman and India.The stamp's theme celebrates ...

Salalah Free Zone Inks Usufructs to Establish a Factory for Production of Caustic Soda, hydrogen peroxide

Salalah Free Zone Inks Usufructs to Establish a Factory for Production of Caustic Soda, hydrogen peroxide Muscat, 14 Dec (ONA) --- Salalah Free Zone inked an usufruct agreement, with a total investment value of USD 65 million, to establish a factory for the production of caustic soda, calcium chloride and ammonia chloride that are used in various industries, such as the production of paper, glass, detergents and agricultural fertilizers. The project will be set up on a total area of approximately 55,000 square meters. Moreover, an usufruct agreement was signed for the ...

Agreement Inked for Works Related to Water Supply Project of Sultan Haitham City

Agreement Inked for Works Related to Water Supply Project of Sultan Haitham City Muscat, 14 Dec (ONA) --- Nama Water Services Company today signed an agreement with Target LLC to implement works related to the project of water supply for Sultan Haitham City. The project includes the construction of concrete tanks with a capacity of 105,000 cubic meters, a station for pumping water from Al Khoudh water tanks, water transmission pipes and connection systems for control and monitoring, as well as other civil and electromechanical works related to the operation of the project. ...

MSX Gains 13 Points

MSX Gains 13 Points Muscat, 14 Dec (ONA) --- Muscat Stock Exchange (MSX) general index (30) today gained (13.6) points, comprising a rise by (0.30%) to close at (4588.92) points, compared to the last session, which stood at (4575.32) points. The trading value today stood at (RO 5,607,285), comprising a surge by (107.6%), compared to the last session, which stood at (RO 2,700,729). The report released by MSX pointed out that the market value went up by (0.089%) to reach about (RO 23.90) billion. The report added that the value of shares bought by non-Omani investors ...

First Phase of “Rabt” Project Worth RO 183m Inaugurated

First Phase of “Rabt” Project Worth RO 183m Inaugurated Muscat, Dec (ONA) ---- The official inauguration ceremony of phase one of the strategic project “Rabt” was held today under the patronage of HH Sayyid Bilarab bin Haitham Al Said in Oman Convention and Exhibition Centre (OCEC). The project, worth RO 183 million, is implemented by Oman Electricity Transmission Company “OETC” as part of its commitment to enhancing the reliability and security of the electricity network and supply across various regions of the Sultanate of Oman. The first phase includes the ...

Finance Minister Receives Bahraini Minister of Finance and National Economy

Finance Minister Receives Bahraini Minister of Finance and National EconomyMuscat, 14 Dec (ONA) —— Sultan Salim Al Habsi, Minister of Finance received in his office today Sheikh Salman Khalifa Al Khalifa, Minister of Finance and National Economy in the Kingdom of Bahrain and his accompanying delegation, currently visiting the Sultanate of Oman.The two sides held an official session of talks. The session reviewed Oman Vision 2040, its targets and the national programmes to achieve this vision. It also touched on the Omani experience in overcoming the financial crisis, reducing public debt ...

CBO Keeps Repo Rate Unchanged at 6.00%

CBO Keeps Repo Rate Unchanged at 6.00% Muscat, 14 Dec (ONA) --- The Central Bank of Oman (CBO) decided to keep its repo rate for local banks fixed at 6.00%, following the US Federal Reserve's decision to leave its key policy rate unchanged at the range of (5.25% - 5.50%). The Central Bank of Oman’s monetary policy target is to sustain and maintain its fixed exchange rate. This policy is aligned with the structure and nature of the Omani economy. CBO pointed out that the decision aims to ensure the stability of the Omani Rial, mitigate capital outflow and promote certainty ...

Ministers of Commerce, Energy Meet with Singaporean Officials

Ministers of Commerce, Energy Meet with Singaporean Officials Singapore, 14 Dec (ONA) ---- Within the framework of His Majesty the Sultan’s current state visit to Singapore, Qais Mohammed Al Yousef, Minister of Commerce, Industry and Investment Promotion met here today with Edwin Tong, Minister of Culture, Community and Youth and Second Minister of the Ministry of Law of Singapore. The meeting reviewed means of expanding areas of joint cooperation in a manner that contributes to enhancing bilateral relations. Moreover, Eng. Salim Nasser Al Aufi, Minister of Energy and ...

Oman Oil Price Rises 2.81 US Dollars

Oman Oil Price Rises 2.81 US Dollars Muscat, 14 Dec (ONA) --- Oman oil price (February delivery 2024) today reached 74.23 US Dollars, comprising a rise by 2.81 US Dollars from the price of yesterday (Wednesday), which stood at 71.42 US Dollars. The average price of Oman oil (December delivery 2023) has stabilized at 89.79 US Dollars per barrel, thus 2.98 US Dollars per barrel lower than November delivery 2023. ---Ends/Anas ...

Tender Board Awards Tenders Worth More Than RO 156 Million

Tender Board Awards Tenders Worth More Than RO 156 Million Muscat, 13 Dec (ONA) --- The Tender Board today awarded tenders and approved additional complementary tasks for development projects in various fields, to the tune of RO 156,325,551. The endorsement took place during the Tender Board’s 6thmeeting of 2023, chaired by Dr. Said Mohammed Al Saqri, Minister of Economy, Chairman of the Tender Board. The tenders included the establishment of Al Nama Hospital in North Al Sharqiyah Governorate (worth RO 56.050 million, Samayil Hospital in Al Dakhiliyah Governorate (RO ...

Animal Feed Production Plant Inaugurated in Mutrah

Animal Feed Production Plant Inaugurated in MutrahMuscat, 13 Dec (ONA) --- Oman Flour Mills Company (OFM) inaugurated today the Animal Feed Production Plant in the Wilayat of Mutrah with a production capacity of 20 tons of animal feed per hour, in addition to a pre-mixing unit capable of producing 6 metric tons of pre-mix per hour.The opening ceremony was held under the patronage of Dr. Saud Hamoud Al Habsi, Minister of Agriculture, Fisheries and Water Resources.Haitham Mohammed Al Fannah, CEO of OFM pointed out that the plant is one of the company’s investments that are aimed at ...

Abraj Signs Partnership Contract with TotalEnergies to Provide Drilling Services

Abraj Signs Partnership Contract with TotalEnergies to Provide Drilling ServicesMuscat, 13 Dec (ONA) --- Abraj Energy Services, the leading provider of oil and gas wells drilling services in the Sultanate of Oman, today signed a partnership contract with TotalEnergies to provide drilling services in the concession area of Block 12.The contract was signed by Eng. Saif Al Hamhami, CEO of Abraj Energy Services Company, and Sergio Giorgi, Managing Director of TotalEnergy in Oman.The contract assumes significance as it provides TotalEnergies access to the Omani market by introducing its ...

MSX Drops 2 Points

MSX Drops 2 Points Muscat, 13 Dec (ONA) --- Muscat Stock Exchange (MSX) general index (30) today lost (10) points, comprising a drop by (0.22%) to close at (4575.32) points, compared to the last session, which stood at (4585.32) points. The trading value today stood at (RO 2,700,729), comprising a rise by (0.1%), compared to the last session, which stood at (RO 2,697,439). The report released by MSX pointed out that the market value went down by (0.122%) to reach about (RO 23.88) billion. The report added that the value of shares bought by non-Omani investors reached ...

Green Hydrogen Summit Oman Highlights Prominent Supply Chain Techs in Green Hydrogen Sector

Green Hydrogen Summit Oman Highlights Prominent Supply Chain Techs in Green Hydrogen Sector Muscat, 13 Dec (ONA) --- The 3rd edition of Green Hydrogen Summit Oman 2023 (GHSO23) kicked off today at Oman Convention and Exhibition Centre (OCEC). The summit gathers industry leaders, policymakers, and innovators for collaborative discussions on the latest policies, legislation, and cutting-edge technology expediting the energy transition and advancing sustainable energy solutions. The opening ceremony was held under the auspices of Dr. Khamis Saif Al Jabri, Chairman of Oman ...

Sayyid Bilarab to Inaugurate 1st Phase of OETC's Project Named Rabt

Sayyid Bilarab to Inaugurate 1st Phase of OETC's Project Named Rabt Muscat, 13 Dec (ONA) --- HH Sayyid Bilarab bin Haitham bin Tarik Al Said will preside tomorrow Thursday over the opening of a strategic project undertaken by Oman Electricity Transmission Company (OETC), named “Rabt”. The launch ceremony will take place at Oman Convention and Exhibition Centre. Eng. Saleh Nasser Al Rumhi, CEO of OETC, said that Rabt project constitutes a basic pillar in the electricity sector. The project will be carried out in two phases, the first of which comprises five stations, he ...

Oman Oil Price Drops 4.68 US Dollars

Oman Oil Price Drops 4.68 US Dollars Muscat, 13 Dec (ONA) --- Oman oil price (February delivery 2024) today reached 71.42 US Dollars, comprising a drop by 4.68 US Dollars from the price of yesterday (Tuesday), which stood at 76.10 US Dollars. The average price of Oman oil (December delivery 2023) has stabilized at 89.79 US Dollars per barrel, thus 2.98 US Dollars per barrel lower than November delivery 2023. ---Ends/Anas ...

Oman Green Hydrogen Summit’s Exhibition Kicks off

Oman Green Hydrogen Summit’s Exhibition Kicks off Muscat, 12 Dec (ONA) --- The accompanying exhibition of the 3rd edition of Green Hydrogen Summit Oman (GHSO) kicked off today at Oman Convention and Exhibition Centre (OCEC). The Green Hydrogen Summit Oman exhibition features distinguished participation, with more than 40 local and global companies. The exhibition’s opening ceremony was held under the auspices of Eng. Salim Nasser Al Aufi, Minister of Energy and Minerals. These companies will showcase the latest projects and modern technologies aimed at accelerating ...

MSX Drops 2 Points

MSX Drops 2 Points Muscat, 12 Dec (ONA) --- Muscat Stock Exchange (MSX) general index (30) today lost (2.8) points, comprising a drop by (0.06%) to close at (4585.32) points, compared to the last session, which stood at (4588.07) points. The trading value today stood at (RO 2,697,439), comprising a drop by (13.4%), compared to the last session, which stood at (RO 3,115,960). The report released by MSX pointed out that the market value went up by (0.287%) to reach about (RO 23.91) billion. The report added that the value of shares bought by non-Omani investors reached (RO ...

Oman Oil Price Drops 54 Cents

Oman Oil Price Drops 54 CentsMuscat, 12 Dec (ONA) --- Oman oil price (February delivery 2024) today reached 76.10 US Dollars, comprising a drop by 54 cents from the price of yesterday (Monday), which stood at 76.64 US Dollars.The average price of Oman oil (December delivery 2023) has stabilized at 89.79 US Dollars per barrel, thus 2.98 US Dollars per barrel lower than November delivery 2023. ---Ends/Thuraiya/Anas ...

Oman Participates in Meeting of WTO Ministerial Conference

Oman Participates in Meeting of WTO Ministerial Conference Muscat, 11 Dec (ONA) --- The Sultanate of Oman participated today, via video conferencing, in the mini-ministerial preparatory meeting for the 13th Ministerial Conference (MC13) of the World Trade Organization (WTO).Oman was represented during the mini-ministerial meeting by Qais Mohammed Al Yousef, Minister of Commerce, Industry and Investment Promotion. During the meeting, the ministers discussed a range of topics, namely e-commerce and development issues, among other matters.It is worth noting that the WTO was established ...

Tender Results of Government Treasury Bills Worth RO 20 Million Issued

Tender Results of Government Treasury Bills Worth RO 20 Million Issued Muscat, 11 Dec (ONA) ---- The total issuance of Government Treasury Bills amounted RO 20 million. The value of the allotted Treasury bills amounted to RO 15 million, for a maturity period of 91 days. The average accepted price reached RO 98.660 for every RO 100, and the minimum accepted price arrived at RO 98.660 per RO 100. The average discount rate and the average yield reached 5.37473% and 5.44772%, respectively. The value of the allotted Treasury bills amounted to RO 5 million, for a ...