News

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Oman Cables launches 2nd SHE STEMS programme

Oman Cables Industry (OCI) recently unveiled the 2nd edition of the SHE STEMS programme following up on a Memorandum of Understanding (MOU) with the Ministry of Higher Education, Research, and Innovation (MOHERI).

The initiative was introduced a year ago to empower young Omani women to excel in the nation’s industrial workforce,...

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17/10/23

Central Bank of Oman unveils fresh fintech strategy

Omans Central Bank (CBO) has released the Fintech Framework and Roadmap to support financial technology (fintech) based products and services. Fintech is one of the fastest growing financial services sectors both in the Sultanate of Oman and the world.

The comprehensive strategy is fully aligned with the Sultanates Vision 2040. It also aims to develop...

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03/10/23

Madayn establishes Centre for Innovation and Entrepreneurship

The Public Establishment for Industrial Estates (Madayn) and the Oman Indian Fertiliser Company (Omifco) recently signed an agreement to establish the Omifco Centre for Innovation and Entrepreneurship in Sur Industrial City.

The agreement will support the plans of Sur Industrial City and the Governorate of South Al Sharqiyah. The centre is expected...

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19/09/23

Salalah Free Zone records OMR 727 million of investment

Salalah Free Zone has signed five new land lease agreements worth a total investment of OMR 727 million (USD 1.88 billion) during the first half of 2023.

Furthermore, the free zone located in Dhofar Governorate, announced that total cumulative agreements reached an overall investment volume of OMR 4.5 billion (USD 11.66...

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05/09/23

Oman committed to renewable energy to meet demand

Oman is inviting procurement targetting solar and wind capacity to secure at least 30 percent of its electricity from renewable sources by 2030.

Several new wind based Independent Power Projects (IPPs), as well as a mid-size solar PV based IPP and a Waste to Energy scheme will be made available for tender during the current...

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22/08/23

Oman updates Labour Law to align with Vision 2040

Oman recently announced a major overhaul of the Sultanates labour laws as the government seeks to align its labour market with the Oman Vision 2040.

The updated law defines the rules and protections in place for both Omanis and expatriates. New legislation aims to foster a dynamic, resilient work environment capable of adapting to current...

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08/08/23

Oman targetting tourism and real estate to diversify economy

Oman`s Ministry of Heritage and Tourism has approved 19 integrated tourism licences as the Sultanate progresses with plans to invest OMR 4.4 billion (USD 11.4 billion) in hospitality and real estate.

The Sultanate is targetting major tourism and real estate developments as it looks to add over 16,500 hotel rooms across 80 new hotels. Furthermore, the country is aiming...

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25/07/23

Oman launches Sultanates first private cloud data centre

Oman’s first private cloud data centre has been launched in coordination with the Ministry of Transport, Communications and Information Technology (MTCIT).

Consequently Oman based global integrated energy company OQ has signed an agreement with the private centre, which was built by global technology company SAP. As a result, OQ will be able to leverage the benefits...

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11/07/23

Oman`s Sohar Freezone facilitating investment

Oman`s Sohar Freezone has extended its competitive rates for businesses seeking to obtain a General Trade License (GTL). This initiative will drive growth by encouraging global enterprises to base themselves within the complex and utilise reduced rates for up to three years.

Companies can save up to 50% on regular rates and begin trading immediately by using Sohar`s one stop electronic portal...

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27/06/23

Oman planning huge IPO listings over next five years

Oman`s Muscat Stock Exchange (MSX) is planning to list 35 state-owned enterprises over the next five years, with several oil companies expected to list this year.

Furthermore recent interest in the MSX has increased due to the OQ subsidiary Abraj Energy's listing. The IPO could also fuel a positive sentiment for the market as a whole and help push local stock prices...

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13/06/23

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