News

We prepare and provide the most relevant information on the (business) ecosystem and the most recent developments in the Sultanate of Oman under News and on Facebook, Twitter, Instagram & Co. Please click on the link and reach out to our experts and specialists to discuss your story. It would be our pleasure to share it with others!

Oman boosts Jobs and Investment using E-Commerce

Oman is undergoing a digital transformation and e-commerce - which involves the online transaction of goods and services - is making a notable economic impact in the Sultanate.

The growth of e-commerce in Oman is closely tied to the country's rapid adoption of technology. Since the 1970s, Omanis have quickly embraced new technologies, shifting directly from personal computers to mobile phones. This...

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30/07/24

Oman`s Be’ah and Nitaj advance energy and farming projects

Oman`s Be’ah municipal waste management agency is implementing initiatives and strategies aimed at unlocking energy and other value streams from waste.

Projects in various stages of early development include a utility-scale Waste-to-energy (WTE) system, a biogas plant and green waste conversion schemes. Further initiatives...

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16/07/24

Oman to GCC direct power interconnection to be ready by 2026

Oman and the GCC Interconnection Authority (GCCIA) have designed an upgraded direct interconnection link to be completed by 2026 according to Oman’s national grid operator OETC.

The new link will connect the 400kV grid station at the Ibri Independent Power Project (IPP) in Oman’s Al Dhahirah Governorate...

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02/07/24

Oman trade with Qatar amounted to OMR 571 million in 2023

Oman and Qatar recently announced an increase in trade volume of 20%, reaching OMR 571.15 million (USD 1.48 billion) in 2023 compared to OMR 475.96 million (USD 1.24 billion) in 2021.

The figures were announced at the recently celebrated Oman Chamber of Commerce and Industry’s 50th anniversary Golden Jubilee in Muscat. Dignatories praised the close relations...

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11/06/24

Oman and UAE announce commencement of Hafeet Rail project

Oman will soon begin construction on its revolutionary railway project, which will connect Sohar to Al Ain and Abu Dhabi - a distance of over 300km.

Named 'Hafeet Rail', the visionary OMR 1.15 billion (USD 3 billion) project will traverse through breathtaking landscapes, navigating mountains and valleys, while skirting alongside the iconic Jebel Hafeet. Once operational, it promises to condense...

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28/05/24

Oman to explore new initiatives to unlock offshore oil potential

Oman’s vast and untapped offshore hydrocarbon sector holds the key to potentially unlocking resources that will help sustain the country’s oil and gas production over the long-term.

Unlocking the offshore oil potential in Oman is not just a strategic move, it's a transformative journey towards sustained energy prosperity. With vast reserves undiscovered beneath the ocean, [Oman's Ministry of...

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14/05/24

Oman to implement global IBAN banking system

Oman`s Central Bank (CBO) has announced it will introduce the International Bank Account Number (IBAN) standard enabling seamless local and international payments.

The banks initiative will modernise the Sultanate’s financial system and foster collaboration within the banking community. Furthermore, the new...

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29/04/24

Oman Airports celebrates record profits in 2023

Oman Airports and its subsidiaries have achieved remarkable growth in both financial performance and operational efficiency as highlighted in a latest report.

According to Oman Airports Outlook report for 2023, consolidated net profit surged by an impressive 45% to OMR 18.5 million (USD 48 million). Additionally, Earnings Before Interest, Taxes, Depreciation,...

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16/04/24

Oman Ministry showcases investment opportunities

Omans Ministry of Commerce, Industry and Investment Promotion recently promoted notable investment opportunities to foreign ambassadors and heads of global diplomatic missions.

The forum was hosted at the Invest Oman Lounge and aimed to introduce incentives and investment opportunities across various sectors to attract foreign capital. Moreover the presentation explained in detail the Sultanates...

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02/04/24

Oman unveils OMR 500 million waterfront project in Muscat

Oman’s Ministry of Housing and Urban Planning (MoHUP) has announced plans for a reimagined waterfront project in the capital covering 3.3 million square metres.

Termed as the Al Khuwair Muscat Downtown and Waterfront Development it will be designed by Zaha Hadid Architects, a British architecture and design firm. Most importantly, the sustainability focussed...

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19/03/24

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