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Oman celebrates its 52nd National Day

Oman celebrates its 52nd National Day

The country has announced November 30 and December 1 as holidays for employees in the public and private sectors to mark the National Day

Oman’s sovereign wealth fund boosts assets to $41.5bn

The fund now manages over OMR16bn of assets in 40 countries and has achieved an annual average return of 10.3 per cent

Almosafer

Saudi’s Almosafer partners with Visit Oman to boost sultanate’s inbound tourism

Almosafer’s consumer business will run a 360 marketing campaign throughout 2023 to promote Oman to its customer base in Saudi Arabia, Kuwait and the UAE

Careem introduces inter-city rides from Saudi to Qatar

Careem introduces inter-city rides from Saudi to Qatar for FIFA World Cup

City-to-city rides are available to those attending multiple matches

Oman offers visa-free entry to GCC residents

In order to enter Oman, a resident’s visa in the GCC must be valid for a period of no less than three months

Latin America’s biggest startup Kavak expands footprint into Middle East

The Mexico City-based company is branching into the UAE and Oman

Oman Insurance company rebrands itself as Sukoon

Oman Insurance unveils new corporate logo, rebrands as Sukoon

The new brandmark represents two human hands coming together, depicting a sense of security and protection for customers

aramex

Aramex completes first drone delivery in Oman

The company plans to expand its drone delivery testing across the Middle East region

Saudi’s Seera Group to operate inbound charter flights to the kingdom

Flights will operate from November 2022 through to March 2023

Oman oil driller Abraj Energy hires banks for $500m IPO

Oman oil driller Abraj Energy hires banks for $500m IPO

Abraj Energy was created in 2006 and owns about 20 land rigs

Oman

Oman seeks to deepen capital markets with eye on Gulf IPO boom

Oman and Bahrain are the only countries in the GCC not classified as emerging markets by MSCI

UAE President arrives in Oman on two-day state visit

Sheikh Mohamed bin Zayed Al Nahyan was welcomed by Sultan Haitham bin Tariq, upon his arrival in Muscat

Non-oil trade between UAE and Oman

Non-oil trade between UAE and Oman crosses Dhs362bn in 10 years

Non-oil exports accounted for 33 per cent of the total non-oil trade during the past ten years

Oman to ban import of plastic bags

Oman to ban import of plastic bags from January 2023

The ministry is working with concerned departments to develop specifications, ensuring a proper transition to alternatives

Sembcorp

Singapore’s Sembcorp to sell India coal power business to Oman’s Tanweer Infrastructure

After the completion of the sale, the share of renewables in Sembcorp’s total energy capacity will rise to 51 per cent from 43 per cent

Oman

Oman gets first upgrade from Fitch on oil-led fiscal turnaround

Fitch raised Oman’s long-term foreign-currency rating by one notch to BB

Oman posts $2bn surplus in first half on high oil, gas

Oman has implemented a series of reforms to balance its budget and lower its debt, including the introduction of value-added tax last year

UK launches negotiations for free trade deal with GCC

The deal would add at least £1.6bn a year to the UK economy and support new jobs across key industries

Oman Oracle

Oman government implements Oracle Cloud to underpin digital transformation

The implementation led by Oman Information and Communications Technology Group, helps the government run its entire IT estate on Oracle Cloud Infrastructure

Sohar International eyes merger with HSBC Bank Oman

Sohar International recorded a 41.6 per cent increase in net profit to OMR28.3m for the year ended December 31, 2021

Oil extends losses as traders weigh Iran supply, demand outlook

Oman wealth fund considers IPOs of state energy firm OQ’s units

The share sales are part of Oman Investment Authority’s plan to exit state assets in a bid to bolster the country’s coffers and expand its stock exchange

ACWA Power

ACWA Power, OQ, and Air Products sign agreement to build green hydrogen-based ammonia facility in Oman

The facility would be powered by renewable energy and produce green energy products

Omantel signs MoU with Microsoft to accelerate innovation

Microsoft will work with Omantel to develop capabilities required for their workforce, assist with streamlining operations and accelerating growth

Digital dentistry

Align Technology expands regional footprint into Oman

Orthodontists in Oman will now be able to receive Invisalign training in order to provide clear aligner therapy to their patients

Oman posts $927m quarterly surplus after oil prices rose

The Finance Ministry expects the economy to grow 5.6 per cent in 2022, in line with IMF predictions

Oil exporters bagging $818bn windfall are cautioned by IMF

The IMF said it expects the bonanza “to improve fiscal and external balances” in a region that includes 13 exporters in total

Oman to split sovereign wealth fund into two portfolios

The country posted a budget surplus of $545m in the first two months of this year

carlos ghosn

France issues international arrest warrant for Carlos Ghosn

French investigators have travelled to Beirut to question Ghosn over his interactions with the Omani car distributor and his spending on various events

Getty Images

Oman posts $545m budget surplus on higher oil prices, tax

Oman has implemented a series of reforms to bridge the budget gap and lower its debt, including the introduction of a 5 per cent value-added tax last year

Data centre

Equinix to build data centre in Salalah, Oman

Work is underway to establish a new subsea cable interconnection hub linking Asia, Africa and Europe in partnership with Omantel