National programmes to help deliver results in priority areas
A string of national programme launched by the Omani government as part of the Tenth Five-Year Development Plan will contribute to achieving the objectives of Oman Vision 2040, the Ministry of Finance...
2023 Budget to sustain Oman’s fiscal stability
MUSCAT: Oman’s Ministry of Finance unveiled on Sunday, January 1, 2023, a deficit budget for 2023 which, nevertheless, reflected the Omani government’s continued commitment to maintaining fiscal...
New gas company to manage gas assets, transactions
MUSCAT: Natural gas’s contribution to the 2023 budget revenues is estimated at RO 1.400 billion – a direct result of the recent establishment of the Integrated Gas Company (IGC), the Ministry of...
Prudent debt management contributes to fiscal stability: MoF
MUSCAT: Ongoing efforts to reduce the size of the Sultanate of Oman’s public debt was significant beneficial implications for the Omani economy, according to the Ministry of Finance.Besides...
MSX achieves second best GCC market performance in 2022
The MSX Index (MSX30) of Muscat Stock Exchange closed the year 2022 at 4,857.439, having increased by 728 points – an impressive growth of 17.6 per cent during the year. With this growth, the MSX is...
OQIC, Vision Insurance approve merger
In a filing to the Capital Market Authority (CMA) on Wednesday, publicly-listed Oman Qatar Insurance Company SAOG (OQIC) announced the approval of a proposal to merge with Vision Insurance Company...
Dhofar records highest voting
Polling for the municipal council elections in Dhofar Governorate saw a huge turnout of voters on Sunday. As many as 60,679 eligible voters cast their ballots across the governorate, underscoring the...
CBO urges SMEs to switch to e-payment options
The Central Bank of Oman (CBO) is encouraging commercial establishments, particularly small and medium enterprises (SMEs), to embrace electronic payment and bank card options for all their financial...
34% of 2023 budget estimates earmarked for basic services
MUSCAT, DEC 24Preliminary estimates of the 2023 State Budget, released by the Omani Ministry of Finance last week, indicate that 34 per cent of the total budgetary allocations for the coming year are...
OIA outlines major strategy to spur Omani economy in 2023
Oman Investment Authority (OIA), the integrated sovereign wealth fund of the Sultanate of Oman, plans to ramp up investments across its sizable portfolio in 2023, as well as exit certain other...
New Duqm fisheries hub targets annual throughput of 200,000 tonnes of fish
MUSCAT, DEC 18A major fisheries port planned for development at the Special Economic Zone (SEZ) in Duqm will seek to anchor the Sultanate of Oman’s leading position among world-scale hubs in the...
Consortium to develop mega fisheries hub in Duqm
MUSCAT: Marsa Al Duqm Investments Company, a multinational consortium, has signed a usufruct agreement with the Public Authority for Special Economic Zones and Free Zones (OPAZ), to develop the...
125 Omanis benefit from training support under India’s ITEC programme this year
MUSCAT, DEC 14Around 125 training slots have been made available by the Indian government to Omanis this year as part of the ‘Indian Technical & Economic Cooperation (ITEC)’ programme.This was...
Royal Decree ratifies Maha Energy’s stake sale in Block 70
MUSCAT, DEC 13Swedish upstream energy firm Maha Energy has announced that its sale of a 35 per cent participating interest in Oman's Block 70 to Mafraq Energy LLC has been approved by the Omani...
Key forum highlights role of innovative industries in driving growth
MUSCAT, DEC 12The 2nd International Conference on Economics and Business Administration, focusing on the theme, “To Promote Innovative Industries for Sustainable Growth and Development’, began on...
MSX Index crosses 4,800-point mark
MUSCAT, DEC 11The MSX30 Index of Muscat Stock Exchange continued its rise to break the 4,800-point barrier as trading levels soared to new highs on Sunday, December 11, 2022.The MSX30 Index gained...
Food security investments top RO 1.3 billion
MUSCAT: To help boost self-sufficiency in the food sector, around 100 food related projects worth a total investment of RO 1.3 billion are currently in development or operation in Sultanate of Oman,...
Mega table egg production project launched in Oman
MUSCAT: Gulf International Poultry Farm (GIPF), one of the Gulf region’s biggest table egg production farms, was formally inaugurated at Subaikhi in the Wilayat of Ibri in Al Dhahirah Governorate on...
Supporting green hydrogen regulation in Oman to be issued in Q1 2023
MUSCAT: Supporting regulations underpinning Oman’s emerging green hydrogen industry are expected to be issued by the end of the first quarter of 2023, Eng Salim bin Nasser al Aufi, Minister of...
Two-day summit to showcase potential of Omani start-ups
MUSCAT: An ‘Investment and Emerging Companies Summit’ will be held at the Oman Convention and Exhibition Center during December 12-13, 2022, under the auspices of His Highness Sayyid Bilarab bin...