World Bank opens office in Oman, to help in realising 2040 goals
By hosting the office, the Sultanate of Oman seeks to obtain various services from the World Bank Group and its affiliated organisations that support economic growth, social, urban, commercial, and private sector development, and other sectors it seeks to develop in accordance with the goals of Oman Vision 2040.
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Times of Oman
2 hours ago
- Times of Oman
bp Oman and Green Universe Enterprise complete the first Drone Training
Green Universe Enterprise, in partnership with bp Oman, held a graduation ceremony for 30 Omani Youth, celebrating the successful completion of the Youth Wings Workshop programme. It aims to deliver the first drone training initiative of its kind for young Omanis, to help develop their skills in drone technology, regulations and operations. This supports employability in the field of drone inspection, create new freelancing opportunities and enhance their ability to compete in the labour market in this field. Participants came from diverse technical backgrounds reflecting Oman's next generation potential in green technology and 47% of the trainees being female showing diversity and inclusion. Over 6 weeks, the programme immersed graduates in a focused learning experience combining both theoretical and practical training. The practical component was delivered in Wadi Al Abyad, Jabal Akhdhar and other locations focused on flight simulations, basic and advanced outdoor flight, and missions simulating realistic scenarios. The training was concluded with participants completing group projects that demonstrated their understanding of the techniques they had learned. The Green Universe Enterprise team conducted performance assessments of the participants to select the top five graduates to advance to the second phase of the programme, which will include career guidance and mentorship, support, resources and obtaining necessary licenses to work as independent drone specialists. Eng. Sumaya Al Rawahi, Founder and CEO of Green Universe Enterprise, commented: 'This programme wasn't just about flying drones and data processing—it was a window for gaining advanced technology and opened new horizons for the participants to gain experience in the field. For many, this was their first hands-on experience using drones in real-world projects, and it was a journey filled with passion, exploration, entrepreneurial spirit, and self-confidence. This experience reinforced their true desire to continue working contributing to Oman's economy.' Ibrahim Al Hinai, Social investment manager at bp Oman, Kuwait, and Qatar, added, 'This programme empowers Omani job seekers with the knowledge and skills necessary to excel in the growing field of innovative drone technology, while emphasising safe drone usage. The programme not only teaches drone technology, but promotes employment opportunities by providing the necessary certifications in the field of drone inspection. Well done to the participants and graduates.'
Times of Oman
3 hours ago
- Times of Oman
CBO issues Treasury Bills Worth OMR20.3mn
Muscat: Oman's central bank raised OMR20.3 million by way of allotting Treasury Bills on Monday. The value of the allotted Treasury bills include OMR5 million, for a maturity period of 28 days. The average accepted price reached OMR99.700 for every OMR100, and the minimum accepted price arrived at OMR99.700 per OMR100. The average discount rate and the average yield reached 3.91071% and 3.92248%, respectively. Additionally, OMR15.3 million was allotted, for a maturity period of 91 days. The average accepted price reached OMR98.936 for every OMR100, and the minimum accepted price arrived at OMR98.930 per OMR100. The average discount rate and the average yield reached 4.26790% and 4.31381%, respectively. Treasury Bills are short-term highly secured financial instruments issued by the Ministry of Finance, and they provide licensed commercial banks the opportunity to invest their surplus funds. The Central Bank of Oman (CBO) acts as the Issue Manager and provides theadded advantage of ready liquidity through discounting and repurchase facilities (Repo). It may be noted that the interest rate on the Repo operations with CBO is 5.00% while the discount rate on the Treasury Bills Discounting Facility with CBO is 5.50%.
Times of Oman
3 hours ago
- Times of Oman
Agreement inked to fund establishment of visitor centre at Qalhat ancient city
Muscat: The Ministry of Heritage and Tourism and the Development Foundation of Oman Liquefied Natural Gas Company Oman LNG today signed a financing agreement worth RO 3 million for the establishment of a visitor center at the ancient city of Qalhat. This initiative falls within the ministry's efforts to develop UNESCO World Heritage Sites. The project, spanning an area of 5,000 square meters, will include two museum halls to display archaeological artifacts discovered at the site. The center's facilities will feature administrative offices, a gift shop, a café, an outdoor events plaza, internal pathways connecting the visitor center to the ancient city, shaded seating areas, and vehicle parking. The agreement was signed on behalf of the ministry by Salem Mohammed Al Mahrouqi, Minister of Heritage and Tourism, while Dr. Amer Nasser Al Mata'ani, CEO of Oman LNG Development Foundation, signed on behalf of the company. The historical city of Qalhat is one of Oman's oldest cities and ports, boasting a strategic location overlooking the Sea of Oman. This made its ancient harbor a hub for trading ships, a crossroads of diverse cultures, and a maritime trade link with India, Yemen, and other regions of the world. It also served as a center for exporting Arabian horses to India. Khalifa Mubarak Al Farsi, Director of the Qalhat Archaeological Site Department, stated that the visitor center project represents a new cultural legacy and a significant addition to Qalhat city, the Wilayat of Sur, and the South A'Sharqiyah Governorate as a whole. Meanwhile, Eng. Ismail Sulaiman Al Sawafi, General Manager of Social Responsibility and Public Relations at Oman LNG, explained that the project will enhance the city's appeal as a heritage and tourist destination at the national, regional, and international levels. It will also generate direct employment opportunities and promote the sale of local products. It is worth mentioning that the ancient city of Qalhat was inscribed on UNESCO's World Heritage List in 2018, underscoring the historical significance of this landmark.
