عربي English Türkçe اردو فارسى
Logo
Latest News
Business

Oman’s Investment Authority Allocates $260 Mln to Support Muscat Stock Exchange

Muscat Stock Exchange (Omani News Agency)
Muscat Stock Exchange (Omani News Agency)
TT
TT

Oman’s Investment Authority Allocates $260 Mln to Support Muscat Stock Exchange

Muscat Stock Exchange (Omani News Agency)
Muscat Stock Exchange (Omani News Agency)

The Oman Investment Authority (OIA) announced the allocation of 100 million Omani riyals (about $260.8 million) to support the Muscat Stock Exchange through the Liquidity Fund initiative, which is launched by the body in cooperation with the National Program for Financial Sustainability and Financial Sector Development.

Aown bin Abbas al Bahrani, director general of public markets investment at the OIA, said that the Liquidity Fund Initiative is a portfolio worth 100 million Omani riyals to support market-makers and liquidity providers on the Muscat Stock Exchange.

He added that the new initiative reflects the priorities of Oman’s Vision 2040 and falls within the framework of efforts aimed at strengthening the Muscat Stock Exchange, achieving sustainable growth, enhancing investor attractiveness, and increasing their confidence in the market.

The expansion of the Muscat Stock Exchange through the primary or secondary public offerings was among the goals of the OIA’s exit plan that was announced last year. The OIA’s exit from two state-owned firms resulted in the listing of the Pearl Real Estate Investment Fund and Abraaj Energy Services on the MSX.

Meanwhile, the Omani Ministry of Transport, Communications and Information Technology, participated in the third edition of the Oman-Switzerland Business Forum, which aims to strengthen the role of the private sector, achieve economic diversification and financial sustainability and attract foreign investment.

The forum was organized by the Oman-Switzerland Friendship Association and the Advisory Organization for the Swiss Export and Investment Program in Lucerne, under the theme of “Opportunities for Investment and Cooperation in Renewable Energy, Infrastructure and Tourism”.

In a speech on the occasion, Eng. Khamis Mohammed Al Shamakhi, Transport Undersecretary at the Ministry of Transport, Communications and Information Technology, outlined the business advantages offered by the infrastructure sector in Oman, mainly investment opportunities in the field of transport and logistics.

 

Most Viewed

 
 
Business

OPEC Secretary General: Oil Demand to Remain Robust, No Change to Estimates

OPEC Secretary General Haitham Al Ghais attends the St. Petersburg International Economic Forum (SPIEF) in Saint Petersburg on June 4, 2026. (Photo by Olga MALTSEVA / AFP)
OPEC Secretary General Haitham Al Ghais attends the St. Petersburg International Economic Forum (SPIEF) in Saint Petersburg on June 4, 2026. (Photo by Olga MALTSEVA / AFP)
TT
TT

OPEC Secretary General: Oil Demand to Remain Robust, No Change to Estimates

OPEC Secretary General Haitham Al Ghais attends the St. Petersburg International Economic Forum (SPIEF) in Saint Petersburg on June 4, 2026. (Photo by Olga MALTSEVA / AFP)
OPEC Secretary General Haitham Al Ghais attends the St. Petersburg International Economic Forum (SPIEF) in Saint Petersburg on June 4, 2026. (Photo by Olga MALTSEVA / AFP)

OPEC expects robust oil demand growth and is not changing its estimates, Secretary General Haitham Al Ghais said on Thursday at the St. Petersburg International Economic Forum, despite the Middle East conflict and closure of the ⁠Strait of Hormuz.

"Despite ⁠all the commentary out there that oil demand is declining, we have not registered signs of that yet," ⁠Reuters quoted Al Ghais as saying.

"We still see robust demand growth at 1.2 million barrels a day for this year," he said.

He also said that investments in the oil industry should not be affected by "one-off events" that happen ⁠anywhere ⁠in the world.

"We need to invest well ahead of time to be prepared for the demand that we see in the future," he said.

Business

Egypt Plans to List More State-owned Companies, Replace In-kind Subsidies with Cash

Headquarters of the Central Bank of Egypt in downtown Cairo (Asharq Al-Awsat)
Headquarters of the Central Bank of Egypt in downtown Cairo (Asharq Al-Awsat)
TT
TT

Egypt Plans to List More State-owned Companies, Replace In-kind Subsidies with Cash

Headquarters of the Central Bank of Egypt in downtown Cairo (Asharq Al-Awsat)
Headquarters of the Central Bank of Egypt in downtown Cairo (Asharq Al-Awsat)

Egypt aims to list four to five state-owned companies on the Cairo stock exchange before the end of the year as part of its state asset sales strategy, Prime Minister Mostafa Madbouly said on Thursday.

The government also plans to shift from in-kind subsidies to cash subsidies during the coming financial year, as part of efforts to improve the targeting of social support, Madbouly said at a press conference, Reuters reported.

It does not aim to reduce the monetary value of subsidies but rather ensure they reach those entitled to receive them, he added.

More than 60 million people receive subsidised essential commodities through state-run outlets, while at least 10 million others benefit from subsidised bread.

Business

St. Petersburg Forum Brings Together Energy Leaders to Discuss Hormuz Security, Future of Global Markets

Venue of the St. Petersburg International Economic Forum (the Forum)
Venue of the St. Petersburg International Economic Forum (the Forum)
TT
TT

St. Petersburg Forum Brings Together Energy Leaders to Discuss Hormuz Security, Future of Global Markets

Venue of the St. Petersburg International Economic Forum (the Forum)
Venue of the St. Petersburg International Economic Forum (the Forum)

Global energy markets will turn their attention on Friday to the St. Petersburg International Economic Forum, where a high-level panel discussion titled “Global Energy Systems: How Is the World’s Energy Sector Responding to Challenges and Risks?” will take place.

The 29th edition of the forum, being held this year under the theme “Shared Values: The Foundation of Growth in a Multipolar World,” opened on Wednesday. Saudi Arabia is participating as the forum’s principal guest of honor as the two countries mark 100 years of diplomatic relations.

Saudi government entities, national institutions and leading companies are taking part in the forum, including the ministries of energy, industry, transport, environment and investment, with the aim of strengthening cooperation and showcasing the goals and achievements of Vision 2030 in economic diversification and attracting high-quality investment.

The St. Petersburg International Economic Forum, established in 1997, is Russia’s leading economic conference and attracts more than 10,000 participants annually.

The energy session carries exceptional significance given its timing, coming after five months of escalating disruptions to supply routes and rising oil prices. It also falls within the main theme of the forum’s 2026 edition, “The Global Economy: Between Confrontation and Cooperation.”

The session will bring together senior decision-makers from across the global energy industry, led by Saudi Energy Minister Prince Abdulaziz bin Salman, Secretary General of the Organization of the Petroleum Exporting Countries (OPEC) Haitham Al Ghais, Russian Deputy Prime Minister Alexander Novak, and Chief Executive Officer of the Russian Direct Investment Fund Kirill Dmitriev. Also participating are Egyptian Petroleum Minister Karim Badawi, Serbian Energy Minister Dubravka Djedovic, and Secretary General of the Gas Exporting Countries Forum Philip Mshelbila.

According to the session agenda, discussions will focus on a series of strategic questions arising from the new reality facing global energy markets. Foremost among them is the impact of the current Middle East conflict on global oil and gas markets, and what current and future measures could reduce reliance on transporting energy resources through the Strait of Hormuz amid security tensions that have caused tangible shifts in traditional maritime shipping routes.

The session will also examine the strategy that major oil and gas producers should adopt under these circumstances and how the economic impact of OPEC+ measures should be assessed.

Participants will discuss the strategies that major oil and gas producers should pursue amid a complex environment shaped by six years of overlapping crises, beginning with the COVID-19 pandemic, continuing through Western sanctions imposed on Moscow, and extending to current military conflicts and their direct impact on international trade and the global economy. Discussions will also include an assessment of the economic impact of OPEC+ decisions and consideration of the alliance’s future plans.

The strategic dialogue comes ahead of a crucial oil-policy marathon on Sunday, when a series of meetings will begin with the OPEC’s conference, followed by the 66th meeting of the Joint Ministerial Monitoring Committee, which oversees compliance levels, coordination and current compensation plans for countries that previously exceeded their production quotas. The 41st ministerial meeting of OPEC and OPEC+ will also be held.

Sources familiar with the oil sector said OPEC+ is likely to approve an additional gradual increase in its production targets for July, in a move aimed at demonstrating the group’s ability to return to a “normal production path.”

The alliance has already increased production quotas by about 600,000 barrels per day between April and June.