News

ASMED Inks Cooperation Programme with DHL Express to Empower SMEs, ArtisansMuscat, 30 Jan (ONA) --- The Authority for Small and Medium Enterprises Development (ASMED) today signed a cooperation programme with DHL Express to empower small and medium enterprises (SMEs) and crafts people by enhancing the growth of their businesses through a package of initiatives.The agreement was signed by Abdulaziz Said Al Raisi, ASMED Deputy Chairman for SMEs Development, and Moustafa Osman, DHL Express Country Manager, Oman.As per the programme, SMEs and artisans will be offered special services, ...

Oman Oil Price Drops 1.98 US DollarMuscat, 30 Jan (ONA) --- Oman oil price (March Delivery) today reached 82.50 US Dollars, comprising a drop by 1.98 US Dollar from the price of last (Friday), which was 84.48 US Dollars.The average price of Oman oil (January Delivery 2023) has stabilized at 86.15 US Dollars per barrel, thus 4.64 US Dollars per barrel lower than December Delivery 2022. --- Ends/Thuraiya/AG ...

Oman Participates in GCC Financial, Economic Cooperation Committee Extraordinary Meeting Muscat, 29 Jan (ONA) --- The Sultanate of Oman, represented by the Ministry of Finance, took part in the 118th extraordinary meeting of the GCC Financial and Economic Cooperation Committee and the joint meeting with the Trade Cooperation Committee, held via video-conferencing. The meeting discussed the remaining steps towards establishing the customs union in accordance with the set timeframe and implementing the steps needed for the GCC Common Market. The meeting was held under the ...

MSX Gains 11 Points Muscat, 29 Jan (ONA) --- Muscat Stock Exchange (MSX) general index (30) today gained (11.4) points, comprising a rise by (0.24%) to close at (4762.85) points, compared to the last session, which stood at (4751.49) points. The trading value today stood at (RO 881,974), comprising a drop by (80.99%), compared to the last session, which stood at (RO 4,640,123). The report released by MSX pointed out that the market value went up by (0.082%) to reach about (RO 23.59) billion. The report added that the value of shares bought by non-Omani investors reached ...

144 SME Projects Funded by Inma Fund Muscat, 29 Jan (ONA) --- The total number of small and medium enterprises (SMEs) in the Sultanate of Oman which are funded by Inma Fund during 2022 stood at 144 projects in various economic sectors, with a total value of RO 20 million. At the forefront of those sectors is industry (20%), followed by services (19%), transport and logistics (16%), infrastructure (15%), trade (10%), tourism (9%) and the oil and gas sector (8%). The projects funded by Inma Fund in Oman’s various governorates managed to boost their production lines and ...

Oman’s Production of Oil, Gas Increases by December 2022 Muscat, 2 Jan (ONA) --- The Sultanate of Oman’s production of oil recorded a rise by 9.6% till the end of December 2022 to stand at 388,434,800 barrels, according to the latest data issued by the National Centre for Statistics and Information (NCSI). Separately, crude oil production increased by 12.8%, while condensates production declined by 1.4% compared to the corresponding period in 2021. The average price of Oman’s crude oil surged by 48.4% till the end of December 2022 to reach USD 95.4 per barrel compared ...

MSX Drops 4 PointsMuscat, 26 Jan (ONA) --- Muscat Stock Exchange (MSX) general index (30) today lost (4.6) point, comprising a drop by (0.10%) to close at (4751.49) points, compared to the last session, which stood at (4746.85) points.The trading value today stood at (RO 4,640,123), comprising a surge by (63.97%), compared to the last session, which stood at (RO 2,829,817).The report released by MSX pointed out that the market value went up by (0.046%) to reach about (RO 23.57) billion.The report added that the value of shares bought by non-Omani investors reached (RO 161,000), ...

Oman Embassy in Riyadh Holds Meeting on Investment Opportunities in Real Estate SectorRiyadh, 26 Jan (ONA) --- Acting in cooperation with the Ministry of Housing and Urban Planning, Oman’s embassy in Riyadh today held an introductory meeting with investors and major real estate development companies in the Kingdom of Saudi Arabia (KSA) to discuss investment opportunities and real estate projects. The meeting took place on the sidelines of the second edition of “Real Estate Future Forum” held in Riyadh. The meeting was attended by Dr. Khalfan Said Al Shu’aili, ...

Port of Salalah Receives Italian Cruise Ship “Costa Deliziosa”Salalah, 26 Jan (ONA) --- The Port of Salalah received today the Italian cruise ship ‘Costa Deliziosa’, carrying 2,487 passengers, including 1,625 tourists, as part of its tourism programme around the world.The passengers’ programme included visiting important archaeological, tourist and historical monuments in the Governorate of Dhofar, in addition to visiting the beaches and traditional markets at Salalah.It is worth noting that Oman witnesses the visit of many cruise ships, due to its distinguished marine ...

Oman Oil Price Drops 50 CentsMuscat, 26 Jan (ONA) --- Oman oil price (March Delivery) today reached 83.42 US Dollars, comprising a drop by 50 cents from the price of yesterday (Wednesday), which was 83.92 US Dollars.The average price of Oman oil (January Delivery 2023) has stabilized at 86.15 US Dollars per barrel, thus 4.64 US Dollars per barrel lower than December Delivery 2022. --- Ends/Thuraiya/AG ...

OQ Celebrates Inauguration of Bisat Oil Field Muscat, 26 Jan (ONA) --- ‎OQ Group today inaugurated the commissioning of Bisat oil field located at Block 60 concession area. The ceremony was held at Oman Convention and Exhibition Centre (OCEC). The event was held under the patronage of HH Sayyid Taimur Asa’ad al Said, Chairman of the Board of Governors of the Central Bank of Oman (CBO). The Bisat oil field comes as part of OQ’s contribution to supporting the government’s efforts to maximize the use of Omani natural resources and enable national companies to manage ...

Philex Pharmaceuticals Manufacturing Factory Worth $150m in Salalah Free Zone OpensSalalah, 25 Jan (ONA) —— The Philex Pharmaceuticals manufacturing factory in the Salalah Free Zone was opened today, under the patronage of Dr. Hilal Ali Al Sabti, Minister of Health.The manufacturer is an important contributor to securing the Omani markets with the pharmaceutical needs in the first place. It also seeks to export locally manufactured products to the GCC and Arab countries, as well as the African market shortly.The manufacturer, built according to international standard specifications, ...

Saudi Delegation Participates in Activities of Converting Industries LaboratoryMuscat, 25 Jan (ONA)—A delegation from the Kingdom of Saudi Arabia participated today in the activities of the “Converting Industries and Future Industries Laboratory”, which kicked off on 2 January, to learn about the initiatives of Oman in the converting industries sector. The delegation was led by Eng. Al-Badr Adel Fouda, Deputy Minister for Industrial Development and General Supervisor of Industrial Enablement, Kingdom of Saudi Arabia. The visit provided an opportunity to outline the Saudi ...

MSX Drops 39 PointsMuscat, 25 Jan (ONA) --- Muscat Stock Exchange (MSX) general index (30) today lost (39.4) point, comprising a drop by (0.82%) to close at (4746.85) points, compared to the last session, which stood at (4786.21) points.The trading value today stood at (RO 2,829,817), comprising a surge by (69.3%), compared to the last session, which stood at (RO 1,671,598).The report released by MSX pointed out that the market value went down by (0.327%) to reach about (RO 23.56) billion.The report added that the value of shares bought by non-Omani investors reached (RO 260,000), ...

Labour Ministry launches National Framework for Occupational Competences Muscat, 25 Jan (ONA)—The Ministry of Labour today launched the National Framework for Occupational Competences (NFOC), which seeks to develop human resources in the government sector. The NFOC is undertaken in conjunction with the Oman Vision 2040 Implementation Unit and other government departments concerned. It is designed to empower human resources and provide them with ‘future skills’ in a manner that fits with the approaches and priorities of Oman Vision 2040. The programme’s launch ...

Oman Oil Price Drops 1.30 US DollarsMuscat, 25 Jan (ONA) --- Oman oil price (March Delivery) today reached 83.92 US Dollars, comprising a drop by 1.30 US Dollars from the price of yesterday (Tuesday), which was 85.22 US Dollars.The average price of Oman oil (January Delivery 2023) has stabilized at 86.15 US Dollars per barrel, thus 4.64 US Dollars per barrel lower than December Delivery 2022. --- Ends/Thuraiya/AG ...

Guide on SMEs, Start-ups Launched Muscat, 24 Jan (ONA)—The Authority for Small and Medium Enterprises (ASMED) today launched its first edition of “Guide for Small and Medium Enterprises and Start-ups”. The step seeks to market SMEs and introduce them to different government and private establishments, segments of society and investors. ASMED also aspires to help local SMEs and start-ups go global. The guide, which comprises 84 such nascent enterprise in its first edition, also covers Omani trademarks specialized in industry and technology. It reflects diversity in ...

Activities of Conference on Future Skills, HRD Kick Off Today Muscat, 24 Jan (ONA)—A two-day conference titled "Future Skills and Human Resource Development" began today. It is organized by Al Dar Al Arabiya for Data Analysis in cooperation with the Ministry of Labour. The conference seeks to introduce a comprehensive and unified vision for educational institutions and employment departments through the development of an advanced educational system that keeps pace with labour market needs. The conference studies key issues in the fields of education and technology and the ...

Oman, Luxembourg Discuss Economic Cooperation Luxembourg, 24 Jan (ONA) ---- A session of talks was held here today between the Sultanate of Oman and the Grand Duchy of Luxembourg. The talks touched on means of promoting the economic relations between the two countries and encouraging SMEs to invest in Oman. It also covered the cooperation in a set of areas including tourism, ports and green hydrogen. The Omani side was represented in the meeting by Sheikh Dr. Abdullah Salim Al Harthy, Oman’s Ambassador to Luxembourg, while Luxembourg was represented by Carlo ...

MSX Gains 7 Points Muscat, 24 Jan (ONA) --- Muscat Stock Exchange (MSX) general index (30) today gained (7.3) points, comprising a rise by (0.15%) to close at (4786.21) points, compared to the last session, which stood at (4778.95) points. The trading value today stood at (RO 1,671,598), comprising a surge by (114.9%), compared to the last session, which stood at (RO 777,824). The report released by MSX pointed out that the market value went down by (0.002%) to reach about (RO 23.64) billion. The report added that the value of shares bought by non-Omani investors reached ...

ASMED, Sharakah Ink Agreement to Support SMEs Muscat, 24 Jan (ONA) --- To empower small and medium enterprises (SMEs) and support the development of their businesses, a memorandum of understanding (MoU) was signed between Sharakah and the Small and Medium Enterprises Development Authority (ASMED). The MoU aims to support entrepreneurship, empower SMEs, and enhance the sustainability of their business. The MoU was inked by Halima Rashid Al Zari’ee, Chairperson of ASMED and Ali Ahmed Muqaibal, CEO of Sharakah. Halima Rashid Al Zar’ee, Chairperson of ASMED, said: ...

Tender Results of Government Treasury Bills Worth RO 105 Million Issued Muscat, 24 Jan (ONA) --- The total issuance of Government Treasury Bills amounted to RO 105 million. The value of the allotted Treasury bills for a maturity period of 28 days amounted to RO 40 million. The average accepted price reached RO 99.673 for every RO 100, and the minimum accepted price arrived at RO 99.665 per RO 100. The average discount rate and the average yield reached 4.26594% and 4.27994%, respectively.Whereas, the value of the allotted Treasury bills for a maturity period of 91 days amounted to RO ...

Oman Oil Price Rises 85 Cents Muscat, 24 Jan (ONA) --- Oman oil price (March Delivery) today reached 85.22 US Dollars, comprising a rise by 85 cents from the price of yesterday (Monday), which was 84.37 US Dollars. The average price of Oman oil (January Delivery 2023) has stabilized at 86.15 US Dollars per barrel, thus 4.64 US Dollars per barrel lower than December Delivery 2022. --- Ends/Anas ...

MoU Inked to Establish Small Enterprises Specialized in Sea Fishing Muscat, 23 Jan (ONA) ---- A memorandum of understanding (MoU) was signed here today to establish small enterprises specialized in sea fishing and provide funding for their projects. The MoU was inked by the Authority for Small and Medium Enterprises Development (ASMED), Oman Fisheries Development Group and the Ministry of Labour. The MoU also provides for empowering the owners of the enterprises through training, which includes mastering technical skills. The MoU also aims to enable the owners to keep pace ...

MSX Gains 8 PointsMuscat, 23 Jan (ONA) --- Muscat Stock Exchange (MSX) general index (30) today gained (8.5) points, comprising a rise by (0.18%) to close at (4778.95) points, compared to the last session, which stood at (4770.47) points.The trading value today stood at (RO 777,824), comprising a decline by (30.1%), compared to the last session, which stood at (RO 1,122,331).The report released by MSX pointed out that the market value went up by (0.021%) to reach about (RO 23.64) billion.The report added that the value of shares bought by non-Omani investors reached (RO 221,000), ...

CBO Holds Workshop on Security Features of 6th Series of Omani Banknotes Sohar, 23 Jan (ONA) --- The Central Bank of Oman (CBO) conducted a workshop here today that is titled “The Security Features of the 6th Series of Omani Banknotes”. During the workshop, presentations were given on the history of Omani banknotes and the design and security features of the 6th series. The workshop also included a demonstration of sorting machines and their mode of operation, as well as means of counterfeit detection. The workshop was tailored for employees of the banking sector and ...

Bisat Oil Field at Concession Area No. 60 to be Inaugurated Next Thursday Muscat, 23 Jan (ONA) --- HH Sayyid Taimur Asa’ad Al Said, Chairman of the Board of Governors of the Central Bank of Oman (CBO) will patronize over OQ’s Bisat oil field inauguration on 26 January 2023.Bisat oil field is one of the most important projects of OQ’s upstream sector. The field, which is located in concession area No. 60 at Abu Tubul, utilizes cutting-edge technologies and digital solutions to enhance the long-term sustainability of the resources and operations and maximize the revenues ...

Oman Oil Price Rises 12 Cents Muscat, 23 Jan (ONA) --- Oman oil price (March Delivery) today reached 84.37 US Dollars, comprising a rise by 12 cents from the price of last (Friday), which was 84.25 US Dollars. The average price of Oman oil (January Delivery 2023) has stabilized at 86.15 US Dollars per barrel, thus 4.64 US Dollars per barrel lower than December Delivery 2022. --- Ends/Anas ...

Heritage Ministry Unveils 2023 Key Festivals Muscat, 22 Jan (ONA) --- The Ministry of Heritage and Tourism held today a press conference to reveal the festivals that the Ministry will organize during 2023. Organizing those festivals is aimed at stimulating local tourism, promoting the heritage, natural and tourism elements, enhancing the Sultanate of Oman’s rank on the tourism map and contributing to adding value to the local community by supporting small and medium enterprises (SMEs) and increasing the number of reservations in hotels. Azzan Qasim Al Busaidi, ...

Sohar Port Opens Central Emergency Response Unit to Enhance Flexibility, Efficiency of TasksSohar, 22 Jan (ONA) --- Sohar Port and Freezone opened a Central Emergency Response Unit, following the signing of a protocol with a local firm entrusted with the management of the unit.The step fits with the port’s commitment to bolster emergency readiness and provide firefighting services in all its facilities and in its tenants’ establishments. Eng. Khamis Mohammed Al Shammakhi, Transport Undersecretary at the Ministry of Transport, Communications and Information Technology, ...