HM issues Royal decree converting MSM into joint stock company
By: Times News Service
Muscat: His Majesty Sultan Haitham Bin Tarik on Wednesday issued a Royal decree reading as follows: Royal Decree No. 5/2021 on converting Muscat Securities Market (MSM) into a closed joint stock company under the name “Muscat Bourse Company SAOG”.
Article (1) states that, by virtue of provisions of this decree, an Omani closed joint stock company shall be founded under the name “Muscat Bourse Company SAOG” and that its ownership shall be transferred to Oman Investment Authority.
Article (2) states that all the allocations, origins, rights, obligations, assets and registers of Muscat Securities Market (MSM) shall be transferred to Muscat Bourse Company SAOG.
US investors have positive impression on Oman’s economic reform steps
By: ONA
Muscat: Kimberly Reed, President of the US Export-Import (EXIM) Bank said that the American investors have positive impression on the steps taken by the Sultanate’s government under the leadership of His Majesty Sultan Haitham Bin Tarik to improve the economic environment, boost the private sector and attract more investments to the Sultanate.
She added that the commercial team at the US Embassy in Muscat is exerting great efforts in raising awareness of the US business community towards the available investment opportunities in the Sultanate.
In an interview with Oman News Agency (ONA), the American official praised the promising sectors in Oman Vision 2040, stressing the possibility that the US EXIM Bank could contribute to strengthening the investment and economic relations between the two sides.
Ringing in the new year with hope, strength and determination
By: Times News Service
People in Oman welcome the new year with good wishes and hope to overcome the challenges of the COVID-19 pandemic in 2021.
Dr Fatima Al Yaqubi, Head of the Tuberculosis and Acute Respiratory Diseases Department at the Infectious Diseases Department
In 2020, due to the COVID-19 pandemic, the world witnessed health, social and economic repercussions that affected all the sectors of the world. We hope peace will prevail and the earth will regain its vitality and the countries of the world will begin to restore diligent work in their activities while adhering to the precautionary measures.
Budget 2021 – a roadmap for the next 20 years for Oman
By: Times News Service
The budget represents the first cycle of implementation of Oman Vision 2040.
Muscat: Oman’s budget for 2021 will act as a template for the next two decades of the country’s economic development, the Undersecretary for Economy at the Ministry of Economy has said.
“This plan represents the first cycle of implementation of Oman Vision 2040, and is considered a roadmap for the next twenty years,” said Dr Nasser bin Rashid Al Ma’awali, who said that the provisions of this budget were also designed with the 10th Five Year Plan in mind.
By: Times News Service
Muscat: Oman’s 2021 Budget seeks to achieve fiscal sustainability, a stable economic growth, and reduce public debt besides creating new job opportunities in the private sector.
Also, the Budget seeks to strengthen the role of private sector in the development process and has been prepared amid several challenges arising due to the COVID-19 pandemic and persistent low oil prices in the international markets. In addition to oil production cut in compliance with OPEC-plus deal and other geopolitical challenges.
The implications of these challenges were reflected in the decline in public revenue, higher deficit, and payment of balance imbalances.