MUSCAT: The Ministry of Energy and Minerals (MoEM) signed a concession agreement on Wednesday for Block 80 with OQ Exploration and Production (OQEP) – Musandam Offshore and Turkish Petroleum Overseas Company Limited (TPOC). This comes within the framework of the Ministry’s efforts aimed at developing and utilising energy sources with high efficiency and innovation, and […]
After a long run of high inflation numbers and interest rate hikes, mortgage holders could be forgiven for hoping rate relief is on the way. But don’t hold your breath. Look under the bonnet and the picture is far less comforting. The fall was largely driven by one thing — petrol — and the part […]
Muscat: In a move underscoring its longstanding commitment to maritime security and freedom of navigation, the Sultanate of Oman, in coordination with the International Maritime Organization (IMO), has announced the provision of a temporary maritime transit corridor in the strategic Strait of Hormuz. The initiative reflects Oman’s responsibilities toward one of the world’s most critical […]
MUSCAT, JUNE 23 At a time when the global trade landscape is rapidly evolving and the need for secure, flexible logistics corridors is becoming increasingly critical, the Port of Duqm is emerging as one of the most strategically important projects reshaping Oman’s role in international supply chains, according to Reggy Vermeulen, CEO of the Port […]
MUSCAT, JUNE 23 The old-age pension will only become payable after an insured person’s service has ended, even if they have already reached the statutory retirement age, after the Social Protection Fund (SPF) introduced a key amendment to pension regulations. The clarification comes amid growing public interest following amendments to Article (61) governing the Elderly […]
BUSINESS REPORTER MUSCAT, JUNE 23 Nama Power and Water Procurement (PWP), the sole buyer of power and water capacity in the Sultanate of Oman, has announced the launch of the Request for Qualification (RFQ) process for the development of two major utility-scale solar photovoltaic (PV) projects: the Adam Solar Independent Power Project (IPP) and the […]
There is ongoing turmoil in the native forest logging industry, as revealed in the ABC’s Four Corners program that aired last night. The evidence presented was unambiguous: the native forest logging industry has been in financial, social, and environmental decline for decades. Yet it continues to be financially supported by federal and state government subsidies […]
Muscat: Oman Flour Mills (OFM) has started receiving locally grown wheat from farmers across the Sultanate of Oman for the 2026 harvest season, marking the sixth consecutive year of implementing its national wheat purchase programme. The programme, which is carried out annually by Oman Flour Mills with direct support and coordination from the Ministry of […]
Meta has tapped Indian fintech founder Kunal Shah as the new head of WhatsApp, as the US tech giant seeks ways to monetise the messaging app’s massive user base. “Kunal built CRED into one of India’s most important technology companies,” Meta chief Mark Zuckerberg said in a statement. “He brings the kind of builder mentality […]
MUSCAT, JUNE 22 The numbers in Oman’s State Final Account for Fiscal Year 2025 tell a more interesting story than the headline deficit figure. Development spending reached RO 1.577 billion — RO 437 million more than the approved budget allocation of RO 1.140 billion. That 38 per cent overshoot was not an accident. According to […]
