Now fly to India at OMR 19.9, Bangladesh at OMR 39.9
In a social media post, Salam Air announced Mumbai fares from OMR 19.9, Delhi, Hyderabad, Bangalore and Chennai from OMR 21.9 and Lucknow from OMR 29.9 from Muscat International Airport.
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Times of Oman
3 hours ago
- Times of Oman
Business, tech, research, education emerged as pillars of India-UK cooperation: MEA
New Delhi: Foreign Secretary Vikram Misri on Tuesday enlisted areas that have emerged as pillars of India-UK bilateral cooperation, saying that the partnership has seen regular high-level exchanges across sectors such as trade, investment and defence. Addressing a special press briefing ahead of Prime Minister Narendra Modi's visit to the United Kingdom (UK) and Maldives, Foreign Secretary Misri said, "There are regular engagements at the level of External Affairs Minister and his counterpart, the British Foreign Secretary, and there are several other institutional mechanisms at ministerial level dealing with strategic issues, financial, economic, energy related issues, as well as science and technology. In the contemporary times, the sectors of business, technology, research, education innovation, the knowledge economy have emerged as pillars of our bilateral cooperation." Misri also mentioned how the India-UK partnership was upgraded to a comprehensive strategic partnership in 2021 and since then, it has seen regular high level political exchanges. He said that both sides remain committed to taking this partnership to even higher levels. "Our bilateral trade is across USD 55 billion in 2023-24. UK is also the sixth largest investor in India, with accumulative investment of USD 36 billion and interestingly, India itself is a large source of foreign direct investment in the UK with a cumulative investment of close to USD 20 billion," he said. Misri added, "In the defence sector, we are seeing regular interactions and exercises amongst all three branches of the armed forces." Speaking on the importance of the Indian Diaspora, Misri hailed them as the living bridge that connects India and the UK. "One of the most important, probably the foundational aspects of this relationship is the living bridge that connects India in the UK, people of Indian origin in the UK nearly 1.8 million strong Indian diaspora, which has contributed to strengthening bonds of friendship between our two countries, but has also made extremely valuable contributions through UK economy." He also spoke about the issue of Khalistani extremists and related groups as a matter of concern for India, which has been brought to the attention of partners in the UK. PM Modi will embark on a two-nation tour of the UK and the Maldives from July 23 to July 26, the MEA had said on July 20. This visit to the UK is at the invitation of Prime Minister Keir Starmer, while the state visit to the Maldives is at the invitation of President Mohamed Muizzu. According to the MEA, PM Modi will hold wide-ranging discussions with his UK counterpart on the entire gamut of India-UK bilateral relations. They will also exchange views on issues of regional and global importance. Over the years, the India-UK historical ties, have transformed into a robust, multi-faceted, mutually beneficial relationship. The relationship has been elevated to Comprehensive Strategic Partnership in 2021. New Delhi and London have seen sustained and frequent high level political engagements. Prime Minister Modi has met UK Prime Minister Sir Keir Starmer twice over the past one year. They met on the sidelines of G20 Summit in Brazil in November 2024, and again during G7 Summit in June 2025. Both also had multiple telephonic conversations over the period. (
Times of Oman
3 hours ago
- Times of Oman
India helping Maldives stabilise its "stressful financial" situation: Foreign Secretary Misri
New Delhi: Foreign Secretary Vikram Misri on Tuesday stated that India has been lending a "helping hand" to the Maldives to stabilise its "stressful financial" situation, highlighting New Delhi's role in bolstering the island nation's foreign exchange reserves through significant financial assistance. Addressing a press briefing ahead of Prime Minister Narendra Modi's visit to the Maldives, Misri elaborated on India's support for the island nation, noting that a USD 400 million swap line has been nearly fully utilised to stabilise its financial situation. Maldives has been grappling with a mounting debt crisis that threatens its economic sovereignty, as its foreign exchange reserves dwindle to precarious levels while substantial debt repayments loom. Maldives is currently needing to service external debt worth USD 600 million in 2025, which can amount to a staggering USD 1 billion by 2026. Misri also emphasised that India remains in close contact with Maldivian authorities to explore further support, describing the situation as dynamic and requiring ongoing collaboration. "Insofar as the issue related to the financial stability of Maldives is concerned, it is a fact that it has faced a stressful financial environment, and that is why we have been giving a helping hand to Maldives in order to stabilise the financial situation. Our recent assistance has led to accretions in the foreign exchange position of the Maldives, and it is this accretion, as a matter of fact, that has been cited by international financial organisations, including the IMF, as a positive factor that has helped the Maldives stave off outcomes that could be difficult for it," the Foreign Secretary stated. "This is a dynamic situation. We will remain in close touch with our friends and partners in the Maldives to see what else we can do. In any case, so far as the swaps are concerned, my understanding is that the USD 400 million swap line has been drawn almost completely, and now perhaps the USD 30 billion rupee Indian swap line will also be drawn upon," he added. Last year, during Maldivian President Mohamed Muizzu visit to India, the Union Government extended support in the form of USD 400 million and Rs 30 billion as a bilateral currency swap agreement in order to tackle the ongoing financial challenges faced by the Maldives. Earlier in May, the Union Government has extended support to the island nation by rolling over the USD 50 Million treasury bill. Addressing the broader turnaround in India-Maldives relations after ties between New Delhi and Male were strained following derogatory remarks made by Maldivian officials about Prime Minister Modi in early January last year, Misri underscored the resilience of the partnership. He credited the close discussions with Maldivian partners for providing clarity and assurances on the matter while highlighting India's continued support through its military or infrastructural assets provided to the Maldives for its development. "There will always be events that will impact or try to intrude on the relationship. But I think this is testimony to the kind of attention that has been paid to the relationship, including attention at the highest levels that has been paid to the relationship. We've continued to work at it, and I think the result is there for you to see. I think we have also been in very close discussions with our partner partners in the Maldives to provide clarity and assurances about what it is that we want to do bilaterally, and I think this is the result is there for all to see," the Foreign Secretary stated. "With regard to the assets that we have provided them. They continue to function there with the appropriate personnel to manage them and to assist the Maldives authorities in using them for the best possible results," Misri added. Notably, ties between New Delhi and Male were strained after Maldivian officials made derogatory remarks about Prime Minister Modi in early January last year. However, during the visit of Maldivian Foreign Minister Moosa Zameer in April 2024, Zameer distanced his government from the derogatory remarks made by these officials, stating that it was not the government's stance and that "proper action" had been taken to ensure such remarks were not repeated. Earlier in January, India handed over defence equipment and stores to the Maldives, as per the island nation's request, while reiterating its firm commitment to working closely in realising the joint vision for the India-Maldives Comprehensive Economic and Maritime Security Partnership, the Ministry of External Affairs said in a statement. PM Modi will embark on his two-nation tour of the UK and the Maldives from July 23 to July 26, the MEA had said on Sunday. From July 25, he will be on a two-day state visit to Maldives at the invitation of President Mohamed Muizzu. He has been invited as the 'Guest of Honour' for the 60th Anniversary celebrations of the Independence of Maldives on July 26. Notably, the visit by PM Modi comes at a historic juncture as New Delhi and Male are marking their 60th anniversary of the establishment of diplomatic ties. This will be the Prime Minister's third visit to the Maldives and the first visit by a Head of State or Government to the Maldives during the Presidency of Mohamed Muizzu.
Times of Oman
4 hours ago
- Times of Oman
Indian stock market sentiment improves as more stocks move closer to 52-week highs: Report
New Delhi: The stock market sentiments in the country have shown signs of improvement, with a larger number of stocks now trading closer to their 52-week highs than lows, according to a recent report by PL Capital. The data highlighted a positive shift in investor outlook and an encouraging trend for broader market participation. It stated, "Market sentiment has improved - with more stocks closer to 52w Highs than Lows." According to the report's data, approximately 30 per cent of stocks are now near their 52-week highs, compared to those near their 52-week lows. Although this is still lower than in June last year, the report indicates that the situation has improved from previous lows. This trend indicates a more optimistic market environment, where more companies are experiencing price gains rather than declines. The overall sentiment appears to have turned more bullish, reflecting improving investor confidence and stronger market performance. The report also highlighted the rolling return spread between the Nifty 500 equal-weight index and the Nifty 500 index. This spread is rising from a cyclical low, which, according to PL Capital, suggests improving market breadth. A rising spread means that returns from equal-weighted stocks, where each company has an equal impact on the index, are improving compared to the market-cap-weighted index. This indicated that gains are not limited to just a few large-cap stocks but are being shared across a broader set of companies. Such a trend can often signal a potential market reversal or a period of consolidation. The report also tracked one-year return spreads across different investment styles or factors, including value versus quality, small versus large companies, and momentum versus low-volatility stocks. The data showed that the return spreads between these factors remain narrow, suggesting that no single investment style is dominating the market. The report stated, "Narrow factor spreads don't indicate any style polarisation, hinting that a balanced, multifactor approach is better suited in consolidating markets." The report outlined three key observations: improved sentiment with more stocks closer to 52-week highs, broader market participation as reflected by the equal-weight index performance, and narrow factor spread pointing to the need for diversified investment strategies in the current market phase.
