FSA to implement fund for emergency medical treatment of visitors

The Financial Services Authority (FSA) has been mandated to set up a fund to provide financial assistance to visitors facing medical emergencies, per the provisions of Decree No. 25/2024 published in the official gazette on Sunday. The “Regulatory Bylaws for the Emergency Treatment of Visitors in Urgent Cases” will allow visitors to the country to […]

Bonded by brotherhood and economic ties

The Sultanate of Oman and the United Arab Emirates (UAE) are bound by fraternal bonds and strategic partnership. These bilateral relations are witnessing a remarkable progress, thanks to the support and attention accorded by the wise leaderships of His Majesty Sultan Haitham bin Tarik and Shaikh Mohammed bin Zayed al Nahyan, President of the United […]

Investments in Raysut Industrial city reach R0 563 million

The number of investment projects in Raysut Industrial City reached 192 projects after adding 8 projects worth RO 84 million in 2023, bringing the total cumulative investment volume to RO 563 million. Engineer Abdul Qadir bin Salem al Balushi, Director General of Raysut Industrial City, said in a statement to the Oman News Agency (ONA) […]

Oman’s economic upturn signals business opportunities: Expert

The Sultanate of Oman is capitalising on its domestic and regional economic momentum, paving the way for new business prospects in the country, this according to Robert Mogielnicki, a senior resident scholar at the Arab Gulf States Institute in Washington (AGSIW), a prominent think-tank. Since the start of 2024, according to Mogielnicki in his post […]

Local capacity-building pivotal to growth of semiconductor industry in Oman

Local capacity building is the next key step in developing the semiconductor industry in the Sultanate of Oman, according to Dr Ali al Shidhani Under-Secretary for Communications and Information Technology at the Ministry of Transport, Communications and Information Technology.   Speaking at the recent 2024 MoTCIT Media Gathering, Dr Al Shidhani shed some insight on […]

Omantel launches national cloud

Omantel, in cooperation with Huawei, yesterday launched a national cloud that provides the latest global technologies and expertise and enhances the security and hosting of local data for various sectors that include government institutions and companies, including the financial sector, energy, health, and others.   The national cloud was designed to be in line with […]

Oman Business Gateway to come up at Airport Heights

A roughly 215,000 sq metre site in upscale Airport Heights in Muscat Governorate has been earmarked for the development of the new Oman Business Gateway project, a mixed-used precinct that will incorporate the headquarters of the Ministry of Commerce, Industry and Investment Promotion (MoCIIP).   Earlier this week, the Ministry of Finance launched a competitive […]

Salalah Free Zone signs five investment pacts totalling RO 44 million

Salalah Free Zone recently signed five agreements totalling RO 44 million, marking the initiation of five new investments.   These agreements span from Oman to Hong Kong, Jordan to Kuwait, and beyond, showcasing the free zone’s growing global partnerships that are shaping a brighter economic landscape.   The first agreement was inked with Naseem Salalah […]

Oman’s industrial sector advances through automation and innovation

The Ministry of Commerce, Industry, and Investment Promotion (MoCIIP) in Oman is dedicated to enhancing the country’s industrial sector and boosting its contribution to the local GDP. By continuously updating laws, providing support to Omani factories through facilities and exemptions, and addressing sector challenges, the ministry aims to drive growth and sustainability. Initiatives focused on […]

CMA eyes AI-driven insurance growth, prioritising consumer protection in oman

The Capital Market Authority (CMA) in Oman sees Artificial Intelligence (AI) as a transformative force for the insurance sector, but emphasizes responsible implementation to protect policyholders and maintain institutional stability.   Speaking at the 34th General Arab Insurance Federation (GAIF) Conference, underway at the Oman Convention and Exhibition Centre, CMA Executive President Abdullah bin Salem […]