MUSCAT: The total value added of private sector enterprises actively operating in the Sultanate of Oman for Q4 2023 amounted to RO 8.85 billion, according to preliminary statistics released by the National Center for Statistics and Information. https://www.omanobserver.om/article/1153326/business/economy/added-value-of-private-enterprises-in-oman-reaches-ro-885-billion

MUSCAT: Norwegian wave energy specialist Havkraft AS has signed an agreement with Asyad Group – the Omani state-owned integrated shipping and logistics group – to explore the potential to harness wave energy for the first time in the Sultanate of Oman. https://www.omanobserver.om/article/1153040/business/energy/pact-signed-to-develop-wave-energy-in-oman

Muscat: The Green Hydrogen Summit Oman (GHSO) – the MENA region’s largest hydrogen event – has announced its international expansion in 2024, reflecting Oman’s growing influence across the renewable energy sector. https://www.omanobserver.om/article/1153077/business/energy/green-hydrogen-summit-oman-goes-global-unveils-new-logo

Muscat: The Ministry of Economy on Thursday hosted Dr Khalfan bin Said al Shueili, Minister of Housing and Urban Planning, to participate in a discussion panel titled “Economic Scopes of Sultan Haitham City and Urban Development Projects”. https://www.omanobserver.om/article/1152522/oman/sultan-haitham-city-to-boost-smes

MUSCAT: Several experts in the economic field have confirmed that the continuous improvement and remarkable development in Oman’s credit rating by various international agencies is a result of the efforts and the measures taken by the government to control public spending, reduce public debt, increa https://www.omanobserver.om/article/1152262/oman/governorates/government-measures-boost-omans-credit-ratings

MUSCAT: Oman’s Ministry of Transport, Communications and Informational Technology (MTCIT) has attracting investments worth RO 30 million in the field of artificial intelligence (AI) in 2023, as a result of the growing number of artificial intelligence startups in the country. https://www.omanobserver.om/article/1149812/business/economy/omani-artificial-intelligence-model-under-development

Muscat: The country’s first electric SUV to be manufactured at Duqm will be ready for customers by the end of this year. The company, Mays, said through its social media account that the SUV brand Alive 1 will hit the market by the end of this year with prices around…

Muscat: The Sultanate of Oman is moving forward at a steady pace to reach the production or consumption target of not less than 30 percent of its electrical energy from renewable sources by 2030, said Engineer Salem bin Nasser Al Aufi, Minister of Energy and Minerals. https://timesofoman.com/article/143326-oman-to-produce-30-of-energy-from-renewable-source-by-2030

Muscat: The Sultanate of Oman’s total electricity generation recorded an increase of 6.4 percent to reach 44,346.3 gigawatts per hour by the end of 2023 compared to 41,698 gigawatts per hour during the end of 2022. https://timesofoman.com/article/143324-omans-total-electricity-generation-rises-by-64

Muscat: Oman’s Long-Term Foreign Currency Rating (LT FCR) and Long-Term Local Currency Rating (LT LCR) was raised to ‘BB+’ from ‘BB’ by Capital Intelligence Ratings (CI Ratings) on Friday. https://timesofoman.com/article/143034-omans-sovereign-ratings-upgraded-outlook-revised-to-stable