Oman And US Mark 15 Years Of FTA

USA: In December 2024, the Ministry of Commerce, Industry and Investment Promotion commemorated the 15th anniversary of the Oman-United States Free Trade Agreement (FTA), a landmark accord that has significantly shaped bilateral economic relations. Since its implementation in 2009, the agreement has reduced trade barriers, eliminated tariffs on most goods, and facilitated a smoother flow…

Read More

Royal Oman Police Arrest 37 Individuals for Illegal Entry

MUSCAT: The Royal Oman Police (ROP) has announced the arrest of 37 individuals who entered the country illegally. This action follows a series of coordinated operations aimed at ensuring the safety and security of the nation. These arrests serve as part of an ongoing effort to control illegal immigration and maintain national borders integrity. Authorities…

Read More

Oil Prices See Slight Increase Due to Supply Concerns

MUSCAT: Oil prices experienced a slight uptick today as market sentiment shifted, driven by renewed concerns over global oil supply. The modest increase came after reports suggesting potential disruptions in production from key oil-producing regions, which have raised doubts about the stability of supply chains. These concerns have kept traders on edge, influencing buying behavior…

Read More

CBO To Introduce IBAN For Domestic Transfers

MUSCAT: The Central Bank of Oman (CBO) has announced the implementation of the International Bank Account Number (IBAN) system for all domestic transactions starting July 2025. This move aims to enhance the efficiency, accuracy, and security of financial transactions within the country. The IBAN system is a globally recognized standard that helps in minimizing errors…

Read More