News

Oman Oil Price Rises 35 CentsMuscat, 25 Feb (ONA) --- Oman oil price (April delivery 2025) today reached 76.94 US Dollars, comprising a rise by 35 cents compared to the price of yesterday “Monday” which was 76.59 US Dollars.The average price of Oman oil (February delivery 2025) has stabilized at 73.16 US Dollars per barrel, thus 70 cents per barrel higher than January delivery 2025. --- Ends/Thuraiya/AG ...

Investments in Service Sectors Stand at RO 2.83 Billion by End of 2024 Muscat, 24 Feb (ONA) --- The Authority for Public Services Regulation (APSR) has announced the implementation of 10 future projects and initiatives in the fields of energy, renewable energy, water and wastewater as part of supporting the Sultanate of Oman's efforts to achieve net zero carbon emissions and targets of Oman Vision 2040, in cooperation with government departments and licensed companies. This was unveiled at an annual media gathering organized by APSR today under the auspices of Eng. Salim bin ...

Muscat Stock Exchange and Palestine Exchange Ink MoCMuscat, 24 Feb (ONA) — Muscat Stock Exchange (MSX) and Palestine Exchange (PEX) signed a Memorandum of Cooperation (MoC) aimed at exchanging expertise, developing systems, enhancing market integration, facilitating broker access, and improving the investment environment in both countries.The move comes as part of efforts to strengthen mutual cooperation and develop financial markets.Both sides emphasized that this agreement marks a significant milestone in strengthening financial integration among Arab markets and aims to elevate the ...

Tender Results of Government Treasury Bills Worth RO 49 Million IssuedMuscat, 24 Feb (ONA) — The total issuance of Government Treasury Bills amounted to RO 49 million. The value of the allotted Treasury bills amounted to RO 3 million, for a maturity period of 28 days. The average accepted price reached RO 99.700 for every RO 100, and the minimum accepted price arrived at RO 99.700 per RO 100. The average discount rate and the average yield reached 3.91071% and 3.92248%, respectively.Whereas, the value of the allotted Treasury bills amounted to RO 4 million, for a maturity period of 91 days. ...

Japan's Digital Trade Deficit Hits Record $43 BillionTokyo, 24 Feb (ONA) --- Japan's digital trade deficit hit a record high of 6.46 trillion yen ($43 billion) in 2024, reflecting the dominance of services provided by US technology giants, Japan's finance ministry said. The size of Japan's IT deficit has more than tripled in the past decade from 2.02 trillion yen in 2014, according to preliminary data released by the Finance Ministry earlier this month (February 2025). The ballooning imbalance can be attributed to Japanese companies being increasingly reliant on ...

Gold Steady Near Record Highs Singapore, 24 Feb (ONA) --- Gold prices steadied near an all-time high today, supported by concerns over US President Donald Trump's tariff plans, while the focus shifted to a key US inflation report. Spot gold was steady at $2,934.82 an ounce. US gold futures dipped 0.1% to $2,950.10. Bullion scaled an all-time high of $2,954.69 last Thursday. Spot silver was down 0.1% to $32.58 an ounce. Platinum added 0.7% to $976.25, and palladium firmed 0.4% to $972.93.--- ...

Oil Dips in Early TradeSingapore, 24 Feb (ONA) --- Oil prices slipped in early trade today, extending losses from last week. Brent futures fell 20 cents, or 0.3%, to $74.23 barrel, while US West Texas Intermediate crude futures lost 28 cents, or 0.4%, to $70.12 a barrel. Both contracts dropped by more than $2 on Friday, posting weekly declines as well.--- ...

Euro Rises, Dollar Falls to Weakest Level in Two MonthsSingapore, 24 Feb (ONA) --- The US dollar declined in today's trading to its weakest level in more than two months, while the European currency, the euro, rose. Against a basket of currencies, the dollar fell to a more than two-month low of 106.12. The Euro rose 0.5 percent to USD 1.0516 and looked set to test its January top at USD 1.0528. Sterling pushed to a two-month top of USD 1.2690, while the yen similarly peaked at 148.85 per dollar, its strongest level since early December 2024. The Aussie was up ...

First Hydrogen Refueling Station Launched in Oman Muscat, 24 Feb (ONA) --- The first hydrogen refuelling station in the Sultanate of Oman was launched today by Oman Shell. The move comes as part of Oman Shell’s drive towards advancing sustainable mobility in the nation.The launching event was held under the auspices of Eng. Salim Nasser Al Aufi, Minister of Energy and Minerals.  Strategically positioned near Muscat International Airport, this state-of-the-art hydrogen refuelling station is the Sultanate of Oman’s first green hydrogen production facility, integrating ...

Oman Oil Price Drops 1.97 US Dollars Muscat, 24 Feb (ONA) --- Oman oil price (April delivery 2025) today reached 76.59 US Dollars, comprising a drop by 1.97 US Dollars, compared to the price of last “Friday” which was 78.56 US Dollars. The average price of Oman oil (February delivery 2025) has stabilized at 73.16 US Dollars per barrel, thus 70 cents per barrel higher than January delivery 2025. --- Ends/AH ...

National Industries Committee Discusses Industry Sector Updates Muscat, 23 Feb (ONA) --- The National Industries Development Committee held its second meeting of the year (2025) in Muscat today. The panel discussed strategic issues and followed up the implementation of recommendations made in its first meeting. The meeting was chaired by Qais Mohammed Al Yousef, Minister of Commerce, Industry and Investment Promotion, and attended by representatives of public and private sector establishments concerned. The meeting also studied options to enhance the competitiveness of ...

FSA Launches Electronic System for Issuing Securities (E-IPO) Muscat, 23 Feb (ONA) --- The Financial Services Authority (FSA) announced the launching of the first phase of the electronic system for issuing securities (E-IPO). The move comes within the endeavors of digitalization of the services and procedures regulating the Omani capital market to ensure easing and accelerating the transactions between the FSA and the executive entities. The E-IPO is the stage of submitting applications and approving issues as the system is an integrated digital platform designed to ...

Credit Oman Provides RO 307,000 Indemnifications to Exporters, Local Traders in 2024Muscat, 23 Feb (ONA) ——Credit Oman continues to boost its efforts to support the national economy and enhance the competitiveness of Omani exporters in local and international markets through comprehensive insurance services.As part of its ongoing commitment to stand by exporters and local sellers while ensuring the sustainability of businesses community, Credit Oman indemnified several policyholders in 2024 with a total payout exceeding RO 307,000 against 40 claims distributed across various sectors such ...

MSX Gains 10 Points Muscat, 23 Feb (ONA) --- Muscat Stock Exchange (MSX) general index (30) today gained (10.9) points, comprising a rise by (0.25%) to close at (4454.81) points, compared to the last session, which stood at (4443.87) points. The trading value today stood at (RO 3,006,558), comprising an increase by (34.5%), compared to the last session, which stood at (RO 2,235,949). The report released by MSX pointed out that the market value went up by (0.001%) to reach about (RO 27.29) billion. The report added that the value of shares bought by non-Omani investors ...

Engineers of Imkan-2 Programme Graduate Muscat, 23 Feb ONA) --- The Secretariat General of the Tender Board today celebrated the graduation of 126 engineers as part of "Imkan 2" programme for managing government projects and contracts, representing 20 government institutions. The ceremony was held under the auspices of Dr. Mahad Said Ba’owain, Minister of Labour. The 6-month training programme, aimed to hone the skills of personnel operating under government projects and contracts, included workshops and field visits to government projects that contributed to enhancing the ...

OCCI Industry Committee Explores Competitiveness of Omani Product Muscat, 23 Feb (ONA) --- The Industry Committee at Oman Chamber of Commerce and Industry today held its first meeting for 2025. During the meeting, the committee explored means of developing national industries and boosting the competitiveness of the Omani product locally and internationally. It also touched on challenges facing the sector. The committee underscored the importance of enhancing the industrial business environment by reviewing laws and regulations. It also highlighted the importance of ...

Oman’s Inflation in January Rises 1pcMuscat, 22 Feb (ONA) —— The inflation rate in the Sultanate of Oman increased by 1% in January 2025 compared to the same period in 2024 for the base year 2018, according to data from the Consumer Price Index in the Sultanate of Oman issued by the National Centre for Statistics and Information.The data indicated an increase in the prices of miscellaneous goods and services groups by 4.4%, health by 3.2%, transportation by 2.8%, food and non-alcoholic beverages by 1%, restaurants and hotels by 0.9%, clothing and footwear by 0.6%, recreation and culture ...

Sohar Port, Freezone Launches Dredging Operations for Marsa LNG ProjectSohar, 22 Feb (ONA) —— SOHAR Port and Freezone has announced the commencement of dredging operations for the Marsa LNG project, a critical step in positioning SOHAR as the Middle East’s first LNG bunkering hub.Led by Boskalis’ advanced Coastway and Willem van Oranje Trailing Suction Hopper Dredgers, the operation will remove approximately four million cubic meters of material to develop a dedicated approach channel and berth pocket for the LNG plant.With a $1.6 billion investment, this project is a cornerstone of ...

OIAInvests in Singapore’s Golden Gate VenturesMuscat, 22 Feb (ONA) —— In line with the government’s commitment to support startups and enhance investments that promote innovation and entrepreneurship, Oman Investment Authority (OIA) -represented by its venture capital arm Innovation Development Oman (IDO- has announced its investment in a new MENA fund launched by Singapore’s leading venture capital firm, Golden Gate Ventures (GGV). The new fund targets startups in the Middle East, and has a capital of $100 million.This partnership aims to empower Omani startups, stimulate and ...

European Central Bank Reports Highest Loss in HistoryFrankfurt, 20 Feb (ONA) --- The European Central Bank (ECB) today reported its second consecutive year of losses, with a deficit of about €7.9 billion ($8.2 billion) recorded for 2024. This marks the highest loss in the ECB's more than 25-year history. The eurozone's central bank does not rule out further years of losses: "Should this be the case, any such losses are expected to be lower than those incurred in 2023 and 2024. Thereafter, the ECB is expected to return to making profits." In 2023, the ECB was able to reduce its loss ...

Agreement Inked to Finance 2nd Phase of Industrial Waste Treatment Facility in Sohar Freezone Muscat, 20 Feb (ONA) --- Oman Environmental Services Holding Company (Be’ah) signed a financing agreement with Ahli Islamic Bank to implement the second phase of the industrial waste treatment facility in the Sohar Freezone. The financing value stands at RO 51 million, part of which will be directed to developing a specialized station for treating hazardous waste, enhancing physical and chemical treatment technologies, in addition to establishing modern facilities for managing ...

SalamAir to Add 10 Additional AircraftsMuscat, 20 Feb (ONA) ——SalamAir, Oman’s Low Fare Airline, announced its intention to add 10 additional aircrafts to its existing fleet over the coming 3 years to meet growing passenger demand.The airline placed a formal request for 10 Airbus A320 aircraft with multiple aircraft leasing companies in order to meet its growth targets for the coming five-year period."Our return to our Low-Fare approach has been highly successful, with full aircraft and more demand than we can meet," Adrian Hamilton-Manns, SalamAir’s Chief Executive Officer told Oman ...

MSX Drops 8 Points Muscat, 20 Feb (ONA) --- Muscat Stock Exchange (MSX) general index (30) today lost (8.8) points, comprising a decline by (0.20%) to close at (4443.87) points, compared to the last session, which stood at (4452.67) points. The trading value today stood at (RO 2,235,949), comprising a rise by (44.3%), compared to the last session, which stood at (RO 1,549,588). The report released by MSX pointed out that the market value went down by (0.073%) to reach about (RO 27.29) billion. The report added that the value of shares bought by non-Omani investors reached ...

Oman SATS Launches Set of Electric Charging Vehicles, Stations at Muscat Airport Muscat, 20 Feb (ONA) --- Oman Airports, represented by Omani company SATS, today launched a set of electric charging vehicles and stations. The initiative, which kicked off at Muscat International Airport’s air cargo building, aims to cut down carbon emissions and help achieve the 2050 net zero neutrality objectives. The ceremony was held under the auspices of Dr. Abdullah Ali Al Amri, Chairman of the Environment Authority, who gave a statement in which he stressed the importance of this initiative to ...

Yen Rises, Dollar Steady Amid Latest US Tariffs ImpactSingapore, 20 Feb (ONA) --- The yen firmed and the US dollar held steady today as investors pondered what US President Donald Trump's latest tariff agenda would mean for the global economy and how it could affect the interest rate outlook for major central banks. Against a basket of currencies, the US dollar hovered near a one-week top at 107.15. The yen rose to an over two-month top of 150.62 a dollar, the sterling retreated from a two-month top and last stood at $1.2594, and the euro was flat at $1.0422, ...

South Korea's Exports Fall 10.3% in JanuarySeoul, 20 Feb (ONA) --- South Korea's outbound shipments fell 10.3 percent from a year earlier to $49.1 billion, with petroleum products posting the biggest drop of 29.8 percent among 15 major sectors. Circumstances surrounding South Korea's exports continued to worsen this month (February 2025) due to a decrease in the prices of semiconductors and petroleum products, coupled with a global trend toward protectionism, South Korean industry ministry said today. First Vice Industry Minister Park Sung-taek said "external ...

Oil Prices Decline Slightly Over Rising US Stockpiles, Economic Concerns Singapore, 20 Feb (ONA) --- Oil prices edged lower today over an increase in US crude stockpiles and concerns regarding the impact of tariffs on the global economy. Brent futures were down 22 cents, or 0.29%, at $75.82 a barrel. US West Texas Intermediate crude declined by 30 cents, or 0.42%, to $71.95. The March contract expires on Thursday and the more active April contract dropped by 0.26% to $71.84. This decline came after prices stabilized near their highest level in a week during ...

Gold Prices Edge HigherSingapore, 20 Feb (ONA) --- Gold prices edged higher today, hovering near their all-time highs as concerns persisted over US President Donald Trump's tariff strategies, which could fuel inflation and escalate a global trade war. Spot gold rose 0.2% to $2,938.57 an ounce. Bullion scaled an all-time high of $2,946.85 on Wednesday. US gold futures gained 0.7% to $2,955.20. Spot silver was steady at $32.71 an ounce. Platinum fell 0.2% to $969.70, and palladium was steady at$968.38.--- ...

Advocacy Forum Reviews Role of Legislation in Encouraging Foreign InvestmentsMuscat, 20 Feb (ONA) —— The 7th advocacy forum and its accompanying conference, held today in Muscat, reviewed the role of national legislation in encouraging foreign investments.The event was opened under the patronage of Sayyid Khalifa Said Al Busaidi, Chairman of the Supreme Court.Lawyer Khalifa Marhoon Al Rahbi, Vice Chairman of the Board of Directors of the Omani Lawyers Association delivered a speech at the beginning of the forum, during which he pointed out that the conference aims to discuss the role of ...

Oman Oil Price Drops 40 Cents Muscat, 20 Feb (ONA) --- Oman oil price (April delivery 2025) today reached 78.87 US Dollars, comprising a drop by 40 cents, compared to the price of yesterday “Wednesday” which was 79.27 US Dollars. The average price of Oman oil (February delivery 2025) has stabilized at 73.16 US Dollars per barrel, thus 70 cents per barrel higher than January delivery 2025. --- Ends/Thuraiya/AH ...