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His Majesty leaves for Türkiye
His Majesty Sultan Haitham bin Tarik left here on Thursday heading to the Republic of Türkiye on a two-day state visit, during which he will meet President Recep Tayyip Erdogan. The visit, made in response to an invitation by the Turkish President, comes to promote the advanced relations between Oman and Türkiye. During the visit, […]
Oman launches work on new A’Thuraya City project
The Ministry of Housing and Urban Planning has initiated formal development of A’Thuraya City – the latest in a portfolio of signature urban residential developments designed to offer upscale, yet sustainable, housing opportunities to predominantly local, but also, international investors. Set in the hills overlooking the Muscat Expressway off Al Azaiba, A’Thuraya City will add […]
Oman advances in digital economy indicators
The Technical Committee of the National Digital Economy Program convened its second meeting for 2024, chaired by Dr Ali bin Amer al Shidhani, Under-Secretary of the Ministry of Transport, Communications, and Information Technology for Communications and Information Technology. Representatives from various government agencies participated. The committee discussed the progress of recommendations from its previous meeting, […]
Oman’s economy grows amid reform progress: IMF
Oman’s economy is on a steady growth trajectory, supported by robust reforms under Oman Vision 2040, according to the International Monetary Fund (IMF). In its End-of-Mission press release following the 2024 Article IV consultation held in Muscat from October 30 to November 13, the IMF praised the country’s progress in economic diversification, fiscal management, and […]
Membership of GAGE to spur Oman’s green energy transition
The Sultanate of Oman’s recent membership of the Global Alliance on Green Economy (GAGE) – a key international platform committed to building national capacities of members in their transition to a decarbonized economy – is seen as critical to accessing sustainable climate finance, among other climate-related benefits. An initiative of the World Green Economy Organisation […]
Oman oil price jumps $1.71 per barrel
The official price of Oman crude oil on Tuesday for January delivery surged to $72.21 per barrel, reflecting an increase of $1.71 from Monday’s price of $70.50. The monthly average price for Omani crude in November was $73.49, a decline of $4.50 compared to October. Meanwhile, international oil prices edged lower on Tuesday, influenced by […]
Initiatives to fuel new phase of Oman’s growth
Oman’s Industrial Strategy 2040: Paving the Way for a Sustainable Industrial Future Oman is embarking on a transformative journey to redefine its industrial landscape through the Industrial Strategy 2040 and the Local Content Plan (ICV), aiming to establish itself as a global industrial hub. Spearheaded by the Ministry of Commerce, Industry, and Investment Promotion, these initiatives […]
OQ Base Industries IPO to raise over RO 180 million
OQ Base Industries IPO: A Landmark Step Towards Economic Diversification in Oman Oman’s financial landscape is set to witness a transformative milestone with the initial public offering (IPO) of OQ Base Industries, a subsidiary of the Oman Investment Authority (OIA). Approved by the Financial Services Authority (FSA), the IPO aligns with Oman Vision 2040’s objectives of […]
Oman plans National Foresight Office to navigate future challenges
Oman’s National Foresight Office: Strengthening Resilience for a Dynamic Future Oman is proactively addressing potential vulnerabilities and global disruptions by establishing a National Foresight Office, spearheaded by the Ministry of Economy. This initiative reflects the Sultanate’s commitment to long-term strategic planning and aligns with the aspirations of Oman Vision 2040. A Forward-Thinking Initiative for Oman’s Future The […]
