Oman Financial News

trade agreements (FTAs) with the UK and Oman are expected to figure in the commerce ministry's 100-day agenda roadmap for the new government, an official said. The ministry will also focus on issues pertaining to the exporting community with a view to promoting the country's outbound shipments. Further talks between India and Australia to expand the scope of existing economic cooperation and trade agreement (ECTA) for a comprehensive economic cooperation agreement (CECA) are also progressing at a healthy rate. The exercise assumes significance as while chairing a Cabinet meeting on March 17, Prime Minister Narendra Modi asked the ministers to meet secretaries and other officials of their respective ministries to discuss how the agenda for the first 100 days and the next five years can be better implemented.

UK and Oman are expected to figure in the commerce ministry's 100-day agenda roadmap for the new government, an official said. The ministry will also focus on issues pertaining to the exporting community with a view to promoting the country's outbound shipments. Further talks between India and Australia to expand the scope of existing economic cooperation and trade agreement (ECTA) for a comprehensive economic cooperation agreement (CECA) are also progressing at a healthy rate. The exercise assumes significance as while chairing a Cabinet meeting on March 17, Prime Minister Narendra Modi asked the ministers to meet secretaries and other officials of their respective ministries to discuss how the agenda for the first 100 days and the next five years can be better implemented.

For many years now, the Middle East has been the home to a growing sense of economic dynamism and an increasing appetite for the latest investment opportunity.

For many years now, the Middle East has been the home to a growing sense of economic dynamism and an increasing appetite for the latest investment opportunity.

Union Cabinet is expected to meet on Sunday morning, following the announcement of Lok Sabha election dates, reported The Times of India. Although the specific agenda for the meeting remained undisclosed, ToI sources indicated that several significant matters might be discussed like negotiations on a trade deal with Oman and the potential elevation of the Line of Credit to $250 million for Iran's Chabahar port. Last week, a high-level inter-ministerial committee convened a meeting to discuss strategies for improving the Line of Credit (LoC).

IPL 2024 begins, cricket enthusiasts around the world eagerly anticipate the thrilling matches set to unfold. From the inaugural clash between the Chennai Super Kings and the Royal Challengers Bangalore on March 22 to the final showdown, fans are eager to catch every moment of the action. If you're in Oman and wondering how to catch the IPL excitement, we've got you covered.

United Arab Emirates — China, Iran and Russia have begun a joint naval drill in the Gulf of Oman, a crucial waterway near the mouth of the Persian Gulf, officials said Tuesday. Footage aired by Chinese state television and a video released by the Russian navy showed the ongoing drill, known as «Marine Security Belt 2024.» China sent the guided-missile destroyer Urumqi and the guided-missile frigate Linyi to the exercise. Russia's forces are being led by the Varyag, a Slava-class cruiser.

(Reuters) — Oil prices ticked higher on Thursday after U.S. crude inventories rose less than expected last week and fuel stocks saw large draws.

The Middle East franchisee of Starbucks has begun firing some 2,000 staff at its coffee shops across the region after the brand found itself targeted by activists during the ongoing Israel-Hamas war in the Gaza Strip

NEW DELHI : The legal vetting for a proposed free trade agreement (FTA) between India and Oman is nearly complete, with the deal likely to be signed in either the coming days or after the general election, two people aware of the matter said. "The government hopes to sign the pact before the announcement of dates for general elections, and in case it cannot be signed before the announcement, the government may nevertheless seek permission from the election commission to announce it as the FTA is in the interest of economy," said the first person mentioned above, who spoke under the condition of anonymity.

Some members of oil cartel OPEC, led by Saudi Arabia, and allied producers like Russia are again deepening their voluntary crude supply cuts

By Maha El Dahan and Alex Lawler

Ramadan started on March 24 and finished on April 21. In countries like United Arab Emirates, Bahrain, Kuwait, Lebanon, Oman, Pakistan, Saudi Arabia, UK, US, Turkey, Maldives, Ramadan is likely to start on 11 March. In India, Bangladesh, Indonesia, Egypt, Ramadan is likely to start from 12 March, a report by Hindustan Times has states.

Norway-based Yara has roped in ACME Cleantech for supply of 1 lakh tonne of green ammonia annually from the homegrown entity's plant in Oman. The binding agreement has been signed through GHC SAOC, which is a wholly owned subsidiary of Acme Cleantech, ACME Group said in a statement on Friday. «Yara, a leading Norwegian company and GHC SAOC today (Friday) signed a firm and binding agreement for supply of ammonia with reduced Co2 emissions on a long-term basis,» it said. The long-term offtake agreement covers the supply of 1,00,000 tonne of renewable ammonia per annum by Acme from phase-1 of its Oman project with an expected start date in 2027, the company said.

India-Oman strategic partnership close on the heels of Sultan Haitham bin Tarik’s India trip, deputy national security adviser Vikram Misri visited Muscat to explore collaboration in different sectors including possible defence exports to the sultanate. During Misri’s visit, discussions were held on strategic, military and security cooperation including defence exports, and maintenance of Oman’s ports apart from cooperation in disaster management, oceanography and artificial intelligence, ET has learnt. The deputy NSA also met Gen Sultan bin Mohammed Al Nomani, minister of the Royal Office in Oman and a key figure in the country’s decision-making process. The two sides also gave a push to a bilateral trade deal which could be concluded in a record time.

India does not 'rush' into any Free Trade Agreement (FTA) if the pact is not equitable, balanced, and fair for the country, Commerce and Industry Minister Piyush Goyal on Friday said. He said that the ground realities in India have changed now and the offers made by partner countries in these agreements are «not at all» comparable to what India is offering to the world. At present, negotiations for FTAs with the UK, Oman, and the four-nation European Free Trade Association (EFTA) are nearing conclusion. EFTA members are Iceland, Liechtenstein, Norway, and Switzerland.

trade agreements with the UK, Oman and four European nation bloc EFTA will reflect its commitment to trade liberalisation and economic integration at a time when the whole world is turning protectionist, according to a report. Economic think tank Global Trade Research Initiative (GTRI) said the free trade agreements (FTAs) have become pivotal instruments for India's economic expansion and integration into the world market. These nations and the bloc are eager to finalize these agreements before the upcoming general elections, GTRI said, adding the talks are on the verge of conclusion. Signing of these three agreements will take India's FTA tally from 13 to 16.

NTA) has announced that the National Eligibility cum Entrance Test for Undergraduate (NEET-UG) will be conducted at exam centres in 14 foreign cities on May 5. This decision comes after requests from aspirants, as the initial information bulletin for the exam did not mention centres outside India. «It has been decided that the exam will also be conducted in 14 foreign cities in 12 countries,» said NTA Senior Director (Exams) Sadhna Parashar. According to NTA Senior Director (Exams) Sadhna Parashar, the exam will be conducted in 12 countries, including cities like Dubai, Abu Dhabi, Sharjah (UAE), Kuwait City (Kuwait), Bangkok (Thailand), Colombo (Sri Lanka), Doha (Qatar), Kathmandu (Nepal), Kuala Lumpur (Malaysia), Lagos (Nigeria), Manama (Bahrain), Muscat (Oman), Riyadh (Saudi Arabia), and Singapore.

₹1.64 trillion for fertilizer subsidy. India already has entered into long-term agreements with Morocco, Senegal, Israel, Oman, Canada, Saudi Arabia and Jordan in the past two years as part of this playbook. Though India is moving toward gaining self-sufficiency in urea, it still depends on imports to meet its rock phosphate demand.

₹129 per share, with a face value of ₹10 per share. The issue price is 12.90 times of the face value of the equity share. The SME IPO is a a fixed price issue of ₹29.26 crores.

₹3,300 per tonne and has also reintroduced a ₹1.5 per litre special additional excise duty (SAED) on the export of diesel. For the past two weeks, the SAED on the sale of locally produced crude oil stood at ₹3,200. The duty on the export of diesel was at zero since 1 January.