News

Oman Gets Positive Rating in Tax Transparency Muscat, 17 Jul (ONA) --- The Sultanate of Oman has been rated as "largely compliant" with international standards in the field of transparency and exchange of tax information. This positive outlook reflects the remarkable progress Oman has made in enhancing the transparency of its tax system. The assessment made by the jurisdiction party was based on a comprehensive review of the Sultanate of Oman's compliance with transparency requirements and the exchange of tax information upon request, in accordance with the standards set by ...

MSX Gains 53 Points Muscat, 17 Jul (ONA) --- Muscat Stock Exchange (MSX) 30 Index today closed at 4,654.34 points, marking a rise of 53.4 points (1.16%) from the previous session's close of 4,600.95 points. Trading value increased to RO 17,821,522, reflecting a 8.6% drop compared to the last session's RO 19,505,816. The MSX report indicated that market value saw an increase of 0.523%, settling at approximately RO 28.64 billion. Non-Omani investors recorded purchases worth RO 714,000 (4%) of total trading volume, while sales by foreign investors reached RO 1,114,000 ...

Oman Oil Price Declines 17 Cents Muscat, 17 Jul (ONA) --- Oman oil price (September delivery 2025) today reached 69.89 US Dollars, comprising a decline by 17 cents compared to the price of yesterday “Wednesday”, which stood at 70.06 US Dollars. The average price of Oman oil (July delivery 2025) has stabilized at 63.62 US Dollars per barrel, thus 4.25 US Dollars per barrel lower than June delivery 2025. ---Ends/AG ...

Gold Price Falls as Dollar FirmSingapore, 17 Jul (ONA) —- Gold prices dipped today, pressured by a firmer dollar and easing market tensions after US President Donald Trump said it was "highly unlikely" he would dismiss Federal Reserve Chair Jerome Powell. Spot gold was down 0.2% at $3,340.79 per ounce, and US gold futures fell 0.4% to $3,347.10. The dollar index edged 0.1% higher against its rivals, making greenback-priced bullion more expensive for other currency holders. Elsewhere, spot silver edged 0.1% higher to $37.98 per ounce, platinum rose 0.2% to $1,419.67, and palladium ...

Oil Rises as Demand Hopes, Economic Data Lift SentimentSingapore, 17 Jul (ONA) —- Oil prices today rose in early trade, reversing the previous session’s losses, buoyed by stronger-than-expected economic data from the world’s top oil consumers and signs of easing trade tensions. Brent crude futures rose 27 cents, or 0.39%, to $68.79 a barrel. US West Texas Intermediate (WTI) crude futures were up 31 cents, or 0.47%, at $66.69. Both benchmarks fell more than 0.2% in the previous session. The US central bank’s latest snapshot of the economy, released on Wednesday, showed ...

MSX Drops 11 PointsMuscat, 16 Jul (ONA) --- Muscat Stock Exchange (MSX) 30 Index today closed at 4,600.95 points, marking a drop of 11.6 points (0.25%) from the previous session's close of 4,612.52 points.Trading value increased to RO 19,505,816, reflecting a 19.4% drop compared to the last session's RO 24,204,384.The MSX report indicated that market value saw an increase of 0.073%, settling at approximately RO 28.49 billion.Non-Omani investors recorded purchases worth RO 1,842,000 (9.44%) of total trading volume, while sales by foreign investors reached RO 2,499,000 (12.81%). Net foreign ...

US Dollar Hits Highest Level in 15 Weeks Against Japanese YenNew York, 16 Jul (ONA) --- The US dollar reached its highest level in 15 weeks against the yen today, following the release of US data showing that consumer prices rose in June at the fastest pace in five months. In the latest trading, the euro fell 0.51% to $1.1603, its lowest level since 25 June. Against the Japanese currency, the dollar rose 0.77% to 148.84 yen, its highest level since 3 April. The British pound also declined 0.28% to $1.3389, its lowest level since 23 June. Despite the rise in the US Consumer Price Index, ...

Oil Prices Rise Amid Signs of Growing Global DemandSingapore, 16 Jul (ONA) --- Oil prices rose today, boosted by expectations of firm summer demand in the world's two largest consumers, the United States and China, though gains were capped by analysts' caution about the wider economy. Brent crude futures rose 29 cents, or 0.42%, to $69 a barrel. US West Texas Intermediate crude futures were up 40 cents, or 0.6%, at $66.92 a barrel.--- ...

Oman Receives Eurasian Development Bank Delegation Muscat, 16 Jul (ONA) --- The Sultanate of Oman has received a high-level delegation from the Eurasian Development Bank (EDB) to explore avenues for enhancing economic and investment cooperation between the two sides. The delegation's visit included a series of important meetings with the Ministry of Finance, Oman Investment Authority (OIA), Oman Investment Bank, and the Muscat Stock Exchange. Discussions primarily focused on broadening the scope of partnership between Oman and the EDB in areas such as financing ...

Gold Prices Rise as US Dollar, Treasury Yields RetreatSingapore, 16 Jul (ONA) --- Gold prices rose today, supported by a pullback in the US dollar and bond yields, while investors digested data showing an increase in US consumer prices last month and awaited further clarity on US President Donald Trump's trade policy. Spot gold was up 0.5% at $3,339.88 per ounce. US gold futures edged 0.3% higher to $3,346.70. The dollar index declines from a one-month peak, making gold more attractive for other currency holders. For other precious metals, spot silver rose 0.5 % to $37.88. Platinum ...

OQAE Naqaa Sign Agreement to Develop Wind Power ProjectsMuscat, 16 Jul (ONA) — Demonstrating a firm commitment to Oman’s clean energy transition and local value creation, OQ Alternative Energy (OQAE) has signed an agreement with Naqaa Sustainable Energy LLC to jointly develop a series of wind power projects across the Wilayats of Duqm, Mahout, and Sadah, located in the Dhofar and Al Wusta governorates, with a capacity of 1,100 MW.The projects will utilise locally manufactured wind turbines from Mawarid Turbine, which is expected to be established in Duqm following a memorandum of ...

Oman LNG Exports 1000th Shipment to JapanMuscat, 16 Jul (ONA) —- Oman LNG today successfully exported its 1000th shipment of liquefied natural gas (LNG) to Osaka Gas Co., Ltd. in Japan. This milestone reflects the company’s ongoing efforts in LNG production and reinforces the Sultanate of Oman’s position as a trusted and reliable source of clean energy. It also highlights the deep strategic energy partnership between Oman and Japan, which has spanned over 25 years. The achievement underscores Oman LNG’s role as a reliable and sustainable supplier of clean energy. Japan has been a key ...

Workshop Held on Construction, Engineering Consulting Sector Muscat, 16 Jul (ONA) --- The Ministry of Commerce, Industry, and Investment Promotion today organized a workshop in Muscat focused on the regulation, governance, and development of the construction and engineering consulting sector. The workshop addressed the primary challenges facing the sector and explored opportunities for its advancement. During the session, discussions revolved around mechanisms for implementing a modern operational methodology that aligns with future aspirations and supports efforts to ...

Agreement Inked to Boost Commercial, Aeronautical Revenues of Oman AirportsMuscat, 16 Jul (ONA) —- “Oman Airports” today signed an agreement with Singapore’s Changi Airports International to enhance commercial and aeronautical revenues for “Oman airports”.The agreement aims to establish a preliminary strategic cooperation between the two parties, based on the principle of genuine partnership to exchange ideas and expertise, while facilitating the development of vital projects that enrich the entertainment and commercial experience for visitors and travelers. Under this agreement, ...

Oman Oil Price Declines 29 Cents Muscat, 16 Jul (ONA) --- Oman oil price (September delivery 2025) today reached 70.06 US Dollars, comprising a decline by 29 cents compared to the price of yesterday “Tuesday”, which stood at 70.35 US Dollars. The average price of Oman oil (July delivery 2025) has stabilized at 63.62 US Dollars per barrel, thus 4.25 US Dollars per barrel lower than June delivery 2025. ---Ends/AG ...

Commerce Minister Meets Entrepreneurs in Vehicle Repair, Maintenance Sector Muscat, 15 Jul (ONA) --- Qais Mohammed Al Yousef, Minister of Commerce, Industry and Investment Promotion, met today at the Ministry’s headquarters with a number of entrepreneurs working in the vehicle repair and maintenance sector. This meeting is part of a series of direct engagements conducted by the Ministry to enhance communication with small and medium enterprise (SME) owners, in line with its efforts to empower entrepreneurs and strengthen the business environment in the Sultanate of ...

Eurozone Industrial Output Recovers in MayBrussels, 15 Jul (ONA) --- Eurozone industrial production recovered in May (2025), underpinned by a strong rebound in non-durable consumer goods output, data from Eurostat showed today. Industrial output grew at a faster-than-expected pace of 1.7% on a monthly basis in May, in contrast to the 2.2% decrease in April. Economists had forecast a 0.6% rise. Within the main industrial grouping, production of non-durable consumer goods surged 8.5%. Output of capital goods and energy gained 2.7% and 3.7%, respectively. Meanwhile, intermediate goods ...

MSX Drops 14 Points Muscat, 15 Jul (ONA) --- Muscat Stock Exchange (MSX) 30 Index today closed at 4,612.52 points, marking a drop of 14 points (0.30%) from the previous session's close of 4,626.57 points. Trading value increased to RO 24,204,384, reflecting a 129.6% surge compared to the last session's RO 10,541,670. The MSX report indicated that market value saw a decrease of 0.081%, settling at approximately RO 28.47 billion. Non-Omani investors recorded purchases worth RO 1,599,000 (6.61%) of total trading volume, while sales by foreign investors reached RO 1,790,000 ...

New Professional Designations Approved to Regulate Hotel SectorMuscat, 15 Jul (ONA) – The Ministry of Heritage and Tourism, in cooperation with the Ministry of Laboor, has endorsed 73 new professional designations for the hotel and tourist resort sector. This initiative is part of efforts to regulate and develop the tourism sector and enhance the labour market's readiness to accommodate qualified national competencies in this field.These designations have been incorporated into the unified GCC guide for professional classification and description, where they were categorized and ...

Bank Muscat Posts Net Profit of RO 125.82 Million Muscat, 15 Jul (ONA) --- Bank Muscat today announced its preliminary unaudited results for the six months ended on 30 June 2025, which indicate that the Bank posted a net profit of RO 125.82 million for the period compared to RO 112.12 million reported during the same period in 2024, an increase of 12.2 percent. The key highlights of the results for the period are as follows: Net interest income from conventional banking and net income from Islamic Financing stood at RO 206.44 million for the six months period ended on ...

Total Oil Exports of Oman Exceeds 126 Million Barrels till May 2025Muscat, 15 Jul (ONA) —- The Sultanate of Oman’s total oil exports declined by 2.3% by the end of May 2025, reaching 126,056.900 barrels, compared to 128,991.500 barrels during the same period in 2024, according to preliminary data issued by the National Centre for Statistics and Information (NCSI) .The data showed that the average price of crude oil dropped by 6.9%, reaching USD 75.2 per barrel by the end of May 2025, down from USD 80.8 in the same period last year.Data also showed that average daily oil production ...

Oman Oil Price Declines 2.24 US Dollars Muscat, 15 Jul (ONA) --- Oman oil price (September delivery 2025) today reached 70.35 US Dollars, comprising a decline by 2.24 US Dollars compared to the price of yesterday “Monday”, which stood at 72.59 US Dollars. The average price of Oman oil (July delivery 2025) has stabilized at 63.62 US Dollars per barrel, thus 4.25 US Dollars per barrel lower than June delivery 2025. ---Ends/AH ...

Gold Rises amid US Inflation DataSingapore, 15 Jul (ONA) —- Gold today inched higher, ahead of the release of US inflation data later in the day that could shed more light on the Federal Reserve's interest rate path. Spot gold was up 0.1% at $3,346.94 per ounce, US gold futures were flat at $3,355.60. Traders’ focus now shifts to the US consumer price data for June on Tuesday. Elsewhere, spot silver gained 0.3% to $38.24 per ounce, platinum rose 0.3% to $1,368.30, and palladium edged 0.1% higher to $1,194.52.—- ...

Oil Prices Decline Amid Ongoing Concerns Over US TariffsSingapore, 15 Jul (ONA) —- Oil prices today fell after US President Donald Trump's lengthy 50-day deadline for Russia to end the Ukraine war and avoid sanctions eased immediate supply concerns. Brent crude futures fell 25 cents to $ 68.96 a barrel, while US West Texas Intermediate crude futures fell 34 cents to $66.64. Both contracts settled more than $1 lower in the previous session. Tariffs risk slowing down economic growth, which could sap global fuel demand and drag oil prices lower.—- ...

Tender Results of Government Treasury Bills Worth RO 10.25 Million issued Muscat, 14 Jul (ONA) --- The total issuance of Government Treasury Bills amounted to RO 10.25 million. The value of the allotted Treasury bills amounted to RO 10.25 million, for a maturity period of 91 days. The average accepted price reached RO 98.941 for every RO 100, and the minimum accepted price arrived at RO 98.930 per RO 100. The average discount rate and the average yield reached 4.24871% and 4.29421%, respectively. Treasury Bills are short-term highly secured financial instruments issued by the ...

Oman, Türkiye Sign MoU on Cooperation in Energy Sector Muscat, 14 Jul (ONA) --- The Sultanate of Oman today signed a memorandum of understanding (MoU) with the Republic of Türkiye on consolidating partnership, technical cooperation and investment in the energy sector. The MoU was signed by Eng. Salim Nasser Al Aufi, Minister of Energy and Minerals, and Alparslan Bayraktar, Turkish Minister of Energy and Natural Resources. The MoU covers areas of cooperation in the oil and gas sectors, trade in liquefied natural gas (LNG), renewable energy, energy efficiency, ...

Projects, Tenders Authority Organizes Forum to Enhance Entrepreneur Opportunities in Contracts Muscat, 14 Jul (ONA) --- The Projects, Tenders and Local Content Authority today organized an expanded dialogue forum bringing together numerous entrepreneurs from various sectors. This initiative comes within the authority's efforts to stimulate and enhance private sector participation in government projects and contracts, thereby supporting the national economy and maximizing these institutions' contributions to development. The forum is part of a series of national ...

MSX Gains 4 Points Muscat, 14 Jul (ONA) --- Muscat Stock Exchange (MSX) 30 Index today closed at 4,626.57 points, marking a rise of 4.3 points (0.09%) from the previous session's close of 4,622.26 points. Trading value increased to RO 10,541,670, reflecting a 2.3% drop compared to the last session's RO 10,300,625. The MSX report indicated that market value saw a rise of 0.068%, settling at approximately RO 28.50 billion. Non-Omani investors recorded purchases worth RO 615,000 (5.84%) of total trading volume, while sales by foreign investors reached RO 872,000 (8.27%). ...

Oman, Türkiye Explore Investment Opportunities Muscat, 14 Jul (ONA) --- Abdulsalam Mohammed Al Murshidi, Chairman of the Oman Investment Authority (OIA), today received Alparslan Bayraktar, Minister of Energy and Natural Resources of the Republic of Türkiye, and his accompanying delegation, who are currently visiting the Sultanate of Oman. The meeting discussed ways to activate joint investments between the two sides under the Oman-Türkiye Joint Fund, exploring high-return growth opportunities in promising sectors that serve the economic interests of both ...

Total Domestic Liquidity in Oman Increases by RO 1.8 Billion by End of April 2025 Muscat, 14 Jul (ONA) --- The domestic liquidity and lending indicators in the Sultanate of Oman recorded a notable increase of RO1.8 billion by the end of April 2025, according to preliminary data issued by the National Centre for Statistics and Information (NCSI). The preliminary data shows that, the Domestic liquidity (M2) rose by 7.5%, reaching RO 25.369 milion, compared to RO 23,589.2 million during the same period in 2024, recording an increase of RO 1.8 billion. Conversely, The issued ...