Oman: Work begins on Al Rustaq Gate project
The project includes the construction of a lounge at Gate No 1 that includes parking lots and rest areas for visitors to rest, cafes and shops to buy collectibles, especially traditional products. The project will include ample slots for car parking.
2022 © All right reserved for Oman Establishment for Press, Publication and Advertising (OEPPA) Provided by SyndiGate Media Inc. (Syndigate.info).
Hashtags
Try Our AI Features
Explore what Daily8 AI can do for you:
Comments
No comments yet...
Related Articles
Zawya
9 minutes ago
- Zawya
Saudi Arabia issues 83 new industrial licenses in June worth $253mln
RIYADH — The Ministry of Industry and Mineral Resources issued 83 new industrial licenses in June, representing more than SR950 million ($253.3 million) in total investments, the ministry announced on Monday. The new licenses are expected to create over 1,188 jobs across various regions of the Kingdom, signaling continued momentum in Saudi Arabia's drive to expand its industrial base. According to the monthly report released by the National Center for Industrial and Mining Information, 58 new factories also commenced operations in June. These factories represent a combined investment of SR1.9 billion ($506.6 million) and are forecast to generate 2,007 new jobs. The report highlights the sustained growth of Saudi Arabia's manufacturing sector and the steady pace at which licensed factories are moving into actual production, supporting the broader objectives of Vision 2030 to diversify the national economy. The ministry regularly publishes industrial performance indicators, including newly issued licenses, operational factories, and investment volumes, through the center in a bid to promote transparency and provide insight into the Kingdom's industrial transformation. © Copyright 2022 The Saudi Gazette. All Rights Reserved. Provided by SyndiGate Media Inc. (
Zawya
2 hours ago
- Zawya
Oman: Duqm emerges as new tourism hub with $47.7mln investment
Duqm – Tourism investment in Special Economic Zone at Duqm (SEZAD) exceeded RO853mn at the end of 2024, underscoring Duqm's growing appeal as a coastal destination and business hub. According to SEZAD figures, tourism development in the zone includes 21 hotels, ten hotel apartment buildings and a multi-facility complex comprising hotels, villas and serviced apartments. Sixteen tourism projects were completed by the end of 2024, 11 were under construction and five in pre-construction phase. Ahmed bin Ali Akaak, CEO of SEZAD, said Duqm's location on the Arabian Sea, with access to the Indian Ocean and moderate year-round temperatures, positions it as a strategic tourism destination. The area is also home to several natural and recreational sites including Duqm Beach Park, the Rock Garden, Saay District Public Park and nearby attractions such as Barr al Hikman and Al Maha Nature Reserve. © Apex Press and Publishing Provided by SyndiGate Media Inc. (
Zawya
2 hours ago
- Zawya
Oman: Muscat Stock Exchange index breaks 4,700-point barrier
Muscat – The Muscat Stock Exchange's (MSX) main index recorded new gains last week, surpassing the 4,700-point threshold and extending its winning streak to five consecutive weeks. The index reached 4,777 points – its highest level since early November – before trimming gains and closing the week at 4,718 points, up 64 points overall. Sectoral indices also posted positive performances, led by the Industrial Sector Index, which climbed 116 points. The Services Sector Index rose by 78 points, the Financial Sector Index by 27 points, and the Shariah Index by approximately 8 points. This upward trend was supported by increased institutional investment in the MSX and growing investor optimism regarding improved financial results, following the recent announcement of listed public joint-stock companies' earnings for the first half of the year. Last week, the Muscat Stock Exchange recorded a market capitalisation gain of RO178.2mn, reaching RO28.821bn by the close of trading on Thursday. Trading value surged by 64% to RO135.1mn, compared with RO82.3mn the previous week. The number of executed transactions also rose by 26.5%, from 10,593 to 13,400. OQ Base Industries led trading activity, with trades valued at RO36.5mn – accounting for 27% of total trading value. Bank Muscat followed with RO22.2mn, Oman Flour Mills with RO18.7mn, OQ Exploration and Production with RO16.5mn, and Sohar International with RO12.7mn, representing 9.4% of the total. A total of 47 securities advanced last week, while 28 declined and 12 remained unchanged. Dhofar Power Generation Company posted the highest gain, rising 32.7% to close at 77bz. Building Materials Industries increased by 25.4% to close at 79bz, and Al Suwadi Energy climbed 17.5% to reach 94bz. Among the biggest losers, United Finance bonds fell 30% to close at 70bz. Barka Water and Power shares declined by 12.2% to 180bz, and Oman Arab Bank's 2024 mandatory convertible bonds dropped 9% to close at RO1. In a significant development, OQ Exploration and Production announced its intention to repurchase a portion of its listed shares on the Muscat Stock Exchange. The company plans to buy between 45mn and 60mn shares at market price. The repurchase process will commence on August 9 and continue until February 9, 2026, or until the targeted number of shares has been acquired. Following the announcement, OQEP's share price fell by 16bz – from 348bz to 332bz. The share had previously seen a price increase after the company's extraordinary general meeting on June 24 approved an amendment to its articles of association, introducing a provision related to share buybacks. Last week also saw the launch of Ahlibank's pre-emptive rights issue, which is open to shareholders from July 24 to 28. Valued at RO50mn, the bank announced that share allocation will take place on July 30. The offering, priced at 142bz per share, is part of Ahlibank's efforts to raise capital. Ahlibank's share closed at 150bz at the end of the week's trading, down two baisas from the previous close. Four transactions were executed, amounting to RO10,600. Meanwhile, the pre-emptive rights saw 51 transactions involving 91mn rights, valued at RO96,000, with prices ranging between one and two baisas. © Apex Press and Publishing Provided by SyndiGate Media Inc. (
