Muscat – The Muscat Stock Exchange Records Strong Weekly Gains as local investment funds and institutions increased trading activity last week. The surge reflects optimism following financial results and dividend announcements by public shareholding companies. Several companies proposed dividends that supported market confidence. Oman Cables Industry recommended a cash dividend of 95.5 baisa per share,…
Muscat – The Sultanate of Oman is advancing trade facilitation and logistics efficiency through the National Logistics Strategy 2040, focusing on streamlined customs procedures, digital trade, and strategic port development. Oman’s key seaports — Sohar, Duqm, and Salalah — play a central role in linking the country to regional and global markets. Ongoing infrastructure upgrades…
Parcel delivery giant UPS has announced sweeping job reductions as part of a major strategic shift away from its largest customer, Amazon. The company said UPS job cuts Amazon deliveries will reach up to 30,000 positions this year as it continues to reduce volumes linked to the online retail giant. The job losses will be…
More than 45 agreements signed on the opening day of the Global Labor Market Conference in Riyadh are expected to generate thousands of training and employment opportunities across Saudi Arabia, officials said. The agreements were concluded between a wide range of public and private sector organizations, with a focus on modern work models, skills development,…
The gold price surged above $5,000 an ounce for the first time ever, marking a historic milestone as investors rushed toward safe-haven assets amid mounting geopolitical and financial uncertainty. The rally extends gold’s remarkable run in 2025, during which the precious metal has gained more than 60 percent. Market volatility has been fueled by rising…
Oman money supply rose by 6.4 percent to 26.4 billion Omani rials ($68.6 billion) in November, reflecting solid liquidity conditions and continued growth in bank deposits, according to official data released on Saturday. The increase in Oman money supply, which measures cash in circulation along with bank deposits, was driven by a 12.2 percent rise…
Dubai’s gold market reached a historic milestone on Saturday, with prices surpassing Dh600 per gram for the first time. The surge reflects strong international demand for precious metals amid ongoing economic uncertainties. According to data from the Dubai Jewellery Group, 24-karat gold traded at Dh601 per gram, continuing a streak of record highs over the…
India and the European Union are moving closer to what leaders on both sides have described as a landmark free trade agreement, as global trade uncertainty grows and concerns over US tariff policies continue to loom large. European Council President Antonio Luís Santos da Costa and European Commission President Ursula von der Leyen are set…
Saudi Arabia has revealed that it holds an estimated $2.5 trillion worth of mineral reserves, a development that could position the kingdom as a major player in the global race for critical and rare earth minerals. The renewed global focus on minerals comes as major powers compete to secure supplies essential for clean energy technologies,…
UAE banking sector assets recorded steady growth in November, rising by 0.8 percent to reach 5.25 trillion dirhams ($1.43 trillion), reflecting continued expansion in credit and deposit activity, according to newly released central bank data. The increase marks a rise from 5.2 trillion dirhams in October, highlighting the sector’s resilience amid broader economic momentum. Gross…
