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The momentum of Muscat Stock Exchange reflects the strength of Oman's economy Hassan Ali Jawad, Managing Director, United Securities LLC
NOVEMBER 2025
INDUSTRY
omanbeah
No. 301 November, 2025
EDITOR’S DESK
Tailored investments The wealth management industry is facing a complex environment defined by evolving client expectations, market volatility, and rapid technological shifts.
EDITORIAL Editor-in-chief Said Masoud Almashani Executive Vice President and Group Editor Mayank Singh Editor Oommen John P DESIGN Director Production – Print Ramesh Govindaraj Chief Photographer Rajesh Rajan Cover concept Rakesh Radhakrishnan
MARKETING Associate Advertising Director Shivkumar Gaitonde Business Manager Dhanish Pillai
Key financial institutions are now transforming the investing experience by raising awareness of effective wealth management. These efforts help individuals meet their financial goals through tailored plans and diverse products, including mutual funds and bonds, accessible via experienced wealth managers. Moreover, the integration of Sharia-compliant financing solutions is gaining traction. Collaborations between financial institutions and specialised asset managers aim to develop innovative investment strategies and products that cater to diverse investor needs while adhering to regulatory standards. Such partnerships seek to enhance accessibility and efficiency in investment opportunities. It also combines global expertise with local insights, delivering customised portfolio strategies, sustainable investments, and comprehensive wealth management solutions. By reinforcing leadership in wealth management, these advancements reflect a commitment to providing long-term value and fostering financial innovation. Enhancing financial literacy and planning through wealth management is now essential. By offering personalised advisory services, firms empower individuals and families to optimise savings, understand the importance of financial planning, and promote long-term economic stability. Of late, there is a growing emphasis on comprehensive financial planning, sustainable investments, and AI-driven client engagement tools, all of which are reshaping excellence in wealth management and driving innovation.
OommenJohn
CORPORATE Chief Executive Officer Atulya Sharma
Oommen John
Distribution United Media Services LLC Published by United Press & Publishing LLC PO Box 3305, Ruwi, Postal Code - 112 Muscat, Sultanate of Oman Tel: (968) 24700896, Fax: (968) 24707939 Website: www.umsoman.com
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ENTERPRISE EVOLUTION Your cover story on ‘Oman’s Most Respected Conglomerates,’ made for an interesting read. Private enterprises play a critical role in Middle East’s economic landscape, with family-owned businesses forming the backbone of many national economies. Most of these businesses are responding to market shifts by targeting new customer bases, developing innovative products, and embracing technological transformation, particularly in AI. In Oman, familyowned companies significantly contribute to GDP and employment, operating across various sectors such as consumer markets, energy, financial services, real estate, automotive and hospitality. Many of these businesses are multi-generational, rooted in family values and long-term relationships. Despite this, private firms encounter substantial obstacles, including limited access to capital, succession issues, resistance to change, and a pressing need for modernisation. There is an compelling need for the private sector to become a dynamic engine of growth, job creation, and innovation. Governments are proactively enhancing the business environment, and private equity firms are increasingly investing in Middle Eastern companies to support growth. While challenges persist, the potential for private enterprises in the Middle East to drive economic transformation is significant, requiring cooperation from both the private and public sectors. Mark Stevenson, MQ
WORKPLACE WELLNESS In today’s fast-paced world, many of us spend more time at work than anywhere else—so it’s no surprise that our well-being is deeply shaped by our workplace environment. More companies are starting to realise that supporting employees is not just good for business—it’s the right thing to do. A healthy workplace is one where people feel respected, heard, and genuinely cared for, not just managed. Employees today are looking for more than a pay check. They want balance, flexibility, and the chance to work in a place that understands real life happens outside the office too. Simple gestures—like offering mental health resources, encouraging breaks, or providing flexible hours—can make a world of difference. When people feel comfortable and supported, they show up with more energy, creativity, and passion. A culture of wellness is about building a community, not just a workforce. It creates teams that trust each other, leaders who listen, and a workplace where everyone can grow. And as businesses face constant change, this human-centered approach becomes one of their greatest strengths. After all, when people feel well, they do well—and that’s what truly drives a thriving organisation. Sadaf Al-Zadjali, Muscat
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November 2025
ENERGY TRANSFORMED
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INSIDE
15 COVER STORY
42
VALUE CREATION
EVENT
PIONEERING EXCELLENCE
Banks and institutions create sustainable wealth strategies for Oman’s landscape
His Excellency Qais Al Yousef, Minister of Commerce, Industry & Investment Promotion presents OER Corporate Excellence Awards 2025
14 INTERVIEW
A STRATEGIC PARTNERSHIP
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Aleksey Valkov, Deputy Director of the Roscongress Foundation and Director of the St. Petersburg International Economic Forum shares his thoughts on growing bilateral economic and cultural ties between Russia and Oman
INDUSTRY
STRATEGIC ROADMAP Madayn records cumulative investments of RO7.8bn by mid-2025
Editorial......................... 1
Business Briefs.............. 5
ECONOMY
TECHNOLOGY
LIFESTYLE
LEADERSPEAK
LISTINGS
VIDEO
In the news.................... 9
Technology.................. 17
Economy..................... 22
Paints........................... 34
Automotive.................. 48
Event............................ 52
Infrastructure............. 56
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November 2025
IEA expects Global Oil Market to remain oversupplied in 2026 The International Energy Agency (IEA) forecast a global oil market oversupply of 4 barrels per day (bpd) in 2026, citing the recent increase in crude oil supplies from the Middle East and the Americas. It is noted that this increasingly underscores the need for market change
KitchenomiKs secures investment of $3.2M led by Jasoor Ventures Oman-based KitchenomiKs, the fastest-growing food technology company from Oman, has secured a new funding round led by Jasoor Ventures, bringing its total raised capital to $6.7mn
Oman inaugurates ‘Hadatha’ – its all-new Cybersecurity Center The Ministry of Transport, Communications and Information Technology, represented by the National Cybersecurity Center, in collaboration with Middle East College, has launched the “Hadatha” Center for Cybersecurity at the college’s headquarters
BUSINESS BRIEFS Alizz Islamic Bank in collaboration with Sharakah transforms 8 Omani SMEs
Under the umbrella of the ‘Alizz Cares’ Programme and as part of the banks ongoing commitment to enhancing and supporting small and medium enterprises (SMEs) in Oman, Alizz Islamic Bank, in collaboration with Sharakah, Oman’s leading SME development company celebrated the transformation and performance of the eight SMEs from the ‘Alizz Business SMEs Development Programme.’ The year-long initiative has empowered eight Omani Small and Medium enterprises (SMEs) with the tools, strategies and mentorship needed to achieve sustainable growth and long-term success. The programme provided intensive guidance to running businesses, focusing on boosting their operational capabilities and fostering long-term success. The eight SMEs include three that were nominated by the SMEs Development Authority, two from Alizz Islamic Bank’s Business Banking customers, and three that were selected from a pool of 105 applicants through social media platforms. The participants represented a balance of service based (50 per cent) and product based (50 per cent) businesses, spanning diverse sectors such as e-commerce (1), entertainment and team building (1), manufacturing (2) and services (4). These selected SMEs received personalised
consultancy services, including a 360-degree business assessment, the development of long-term strategic plans, and life coaching to enhance leadership skills. The capacitybuilding component focused on strengthening core business competencies through training sessions on marketing, social media strategies and effective cash flow management. Industry experts also provided valuable insights to help the SMEs align their operations with current market trends. During the programme, a total of 16 site visits and 18 business performance monitoring tasks (BPMTs) were conducted, while over 120 hours of advisory services and five hours of life coaching were dedicated to strengthening management practices and leadership capabilities. ‘Alizz Business’ is a comprehensive financial service offering from Alizz Islamic Bank, tailored to meet the specific needs of SMEs in Oman. It offers a variety of Shari’a-compliant products, including flexible financing solutions for business expansion, working capital, and diversification, along with attractive savings and investment opportunities. Additionally, ‘Alizz Business’ provides SMEs with access to a cutting-edge internet banking platform, enabling secure and efficient transaction management. Alizz Islamic
Bank’s commitment to this initiative highlights its dedication to fostering SME growth, recognising their pivotal role in driving economic progress. Speaking about the graduation, Ali Ahmed Muqaibal, CEO, Sharakah, said, “We are proud to celebrate the achievements of these remarkable enterprises. Their journey reflects the power of collaboration and the value of continuous development. Together with Alizz Islamic Bank, we have provided these entrepreneurs with the tools, insight and confidence to scale their businesses sustainably and contribute to Oman’s economic vision.” Ali Al Mani, CEO, Alizz Islamic Bank, said, “At Alizz Islamic Bank, we are committed to empowering Omani SMEs by equipping them with the banking solutions and knowledge that will enable them to learn, expand and achieve sustainable growth. Our partnership with Sharakah demonstrates our shared belief in nurturing innovation and resilience in Small & Medium Enterprises in line with the country’s growth trajectory and a step towards fulfilling the objectives if Oman Vision 2040. Hence, we plan to work closely together in the upcoming year in finding ways to bridge the gaps between us and the local SME sector.”
BUSINESS BRIEFS Bank Muscat launches subscription-based current accounts for Najahi customers Current Account, Najahi Current Account, or the 3 Subscription-Based Accounts, with different tariff and benefits depending on their needs. First, the Basic Current Account comes with a monthly subscription fee of RO5 (Incl. 5 per cent VAT), no minimum balance requirement, and no fees for issuing new debit card. It offers 25 free cheque leaves per month, 3 Automated Clearing House (ACH) transactions per month and 10 per cent concession for 5 Real-Time Gross Settlement (RTGS) transactions per month.
As part of the Bank’s efforts to enhance Najahi’s value proposition to small businesses, Bank Muscat, the leading financial services provider in the Sultanate of Oman, has announced the launch of 3 new Current Accounts. The new accounts are subscription-based where customers will be charged a monthly subscription fee (ranging from RO5 to RO25, Incl. 5 per cent VAT) and can avail concessions in pricing on various transactions. With the introduction of the new current account variants, customers will be able to choose any of the 5 Current Account variants; Corporate
In addition, the Advanced Current Account comes with a monthly subscription fee of RO15 (Incl. 5 per cent VAT), no minimum balance requirement, and no fees for issuing new debit card or replacement card. It offers 50 free cheque leaves per month, 10 ACH transactions per month and 20% concession for 10 RTGS transactions per month. As for the Premium Current Account, it comes with a monthly subscription fee of RO25 (Incl. 5 per cent VAT), no minimum balance requirement, and no annual fees for the debit card, issuance of new card or replacement card. It also offers 100 free cheque leaves per month, 20 ACH transactions per month, 20 per cent concession for 10 RTGS transactions per month, and 10 per cent concession for 5 outward SWIFT transactions per month (when charges are borne by remitter).
The subscription-based current accounts will benefit customers who transact heavily and are currently incurring expenses on account of bank charges. Customers can save on fees by availing benefits provided on charges. Customers will be able to upgrade or downgrade as per the business requirement, and they will be notified through SMS and Email about the category of current account they are using. On this occasion, Abdulnasir Al Raisi, General Manager for Personal Banking, Bank Muscat, said, “Over the years, Bank Muscat has been working steadily to further improve its portfolio of services and solutions and has always sought to address customers’ needs and aspirations by developing new solutions in line with the Bank’s vision ‘To serve you better, everyday’. The launch of the three new current accounts for Najahi customers translated the Bank’s customer-centric strategy and global banking trends. It will help us provide an unmatched banking convenience for our potential and existing Najahi customers. In Bank Muscat, we are proud to be the first bank in Oman to launch subscription-based variants to SME customers. I would like to take this opportunity to invite our valued customers to explore the benefits the new current accounts offer. We will continue to offer tailor-made solutions to meet the requirement of this crucial sector and overall enhance customer experience.”
Sohar International honoured as an Issuing Manager at the launch ceremony of the Alternative Investment Market (AIM) Reinforcing its leading presence and steadfast role in supporting the national financial markets ecosystem, Sohar International is proud to have been recognized among the issuing managers during the launch ceremony of the Alternative Investment Market (AIM). The event was held under the patronage of HH Sayyid Bilarab bin Haitham Al Said and initiated by the Muscat Stock Exchange (MSX) in partnership with the National Programme for Financial Sustainability and Financial Sector Development ‘Estidamah’, along with several government entities.
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National Bank of Oman and Omantel sign strategic agreement to strengthen digital infrastructure The National Bank of Oman (NBO) has announced signing a strategic agreement with Omantel to upgrade its branch connectivity infrastructure, marking a significant milestone in NBO’s ongoing digital transformation journey. The Master Service Agreement was signed by Abdullah Zahran Al Hinai, CEO, NBO, and Samy Ahmed Al Ghassany, Acting Chief Executive Officer of Omantel, at Omantel’s Headquarters. Through this collaboration, NBO will upgrade to an advanced SD-WAN solution that provides up to 50 times more bandwidth. The new network will greatly improve the speed and reliability of key systems such as the Automated Clearing House (ACH), point-of-sale (POS), Office 365, OmanNet, and the Bank’s digital banking platforms. It also features dual-path connectivity with automatic backup and end-to-end encryption, ensuring continuous operations and stronger data security. Moreover, this strategic initiative reflects NBO’s commitment to invest in scalable, secure, and high-performance technologies that bring real value to its customers. By ensuring seamless and reliable connectivity across all channels, NBO aims to improve service uptime, minimize disruptions, and provide faster, more consistent digital experiences. For Omantel,
The award was received by Abdulwahid Mohamed Al Murshidi, CEO, Sohar International, in recognition of the bank’s tangible contributions to strengthening the foundations of financial development and enhancing the national investment landscape. This recognition reaffirms Sohar International’s continued journey of excellence and its unwavering commitment to advancing Oman Vision 2040, fostering a diversified and sustainable economy grounded in transparency, innovation, and institutional strength. Commenting on this achievement, Abdulwahid Mohamed Al Murshidi, stated, “At Sohar International, we take great pride in this recognition, which stands as a testament to the confidence that regulatory authorities and market stakeholders place in our
the agreement reinforces its commitment to supporting key sectors in Oman with advanced connectivity solutions that enhance efficiency and service quality nationwide. The partnership underscores a shared national vision to accelerate digitalisation, improve service
quality, and advance Oman Vision 2040’s goals of building a knowledge-driven economy supported by robust digital infrastructure.
institutional capabilities, financial strength, and leadership in advancing Oman’s capital market landscape. Our active participation in the launch of the Alternative Investment Market (AIM) represents more than a milestone—it reflects our continued commitment to supporting the national agenda for economic diversification and sustainable development.
As part of national efforts to empower the private sector, the launch of the Alternative Investment Market (AIM) represents a qualitative leap in the development of Oman’s capital market. The market aims to open new financing and investment avenues for family-owned, small, and medium-sized enterprises with growth and expansion plans.
Through this initiative, Sohar International aims to contribute to building a more dynamic and inclusive financial ecosystem that enables national enterprises to access growth capital, attract strategic investors, and compete on both regional and international fronts. This effort aligns with our broader vision of positioning Oman as a competitive, innovation-driven economy founded on principles of responsibility, transparency, and long-term value creation.”
It offers flexible listing requirements and streamlined procedures within an effective regulatory framework. Through this initiative, national companies gain access to an innovative financing platform that promotes good governance practices, supports business sustainability, and attracts both local and foreign investments, contributing to establishing Oman as a promising investment destination in the region.
BUSINESS BRIEFS Tranna App – the ideal solution for instant international money transfers from Bank Nizwa solutions. Every transaction is processed in accordance with the highest standards of safety and security, reaffirming the bank’s commitment to providing customer-centric solutions that enhance the overall user experience.
Reinforcing its commitment to leveraging strategic partnerships, Bank Nizwa, the leading and most trusted Islamic bank in the Sultanate of Oman, in collaboration with Zappit, a financial technology company, has launched the Tranna app. The app enables instant transfers to six countries, including India, Sri Lanka, Pakistan, Nepal, the Philippines, and Bangladesh. The Tranna app is specifically designed for expatriates in Oman, enabling them to send funds internationally within seconds. This launch represents a significant milestone in the nation’s financial landscape, as the app provides competitive exchange rates for all available countries and a user-friendly interface designed to empower users to send money with ease. Tranna’s services are currently available for transfers to six countries, with plans to expand to more than 30 countries soon – broadening its reach and offering greater convenience for residents. Developed on an advanced digital infrastructure, the app demonstrates Bank
Nizwa’s capability to deliver innovative, userfriendly, efficient, and secure technological
Commenting on the launch, Mohammed Al Ghassani, Chief Retail Banking Officer at Bank Nizwa, said, “Developing innovative digital solutions holds value only when it creates a tangible impact in improving people’s lives. At Bank Nizwa, we remain committed to expanding financial access and inclusion by meeting the evolving needs of diverse customer segments through digital solutions. Tranna reflects this approach by simplifying everyday financial transactions through a seamless and secure way to transfer funds. Our partnerships with leading fintech companies further demonstrate our continued commitment to delivering advanced digital solutions and accelerating the introduction of innovative financial services to the market.”
ahli islamic launches Google Pay to enable secure digital payments for customers As part of its commitment to delivering advanced digital banking solutions that meet the needs of modern customers, ahli islamic has announced the launch of Google Pay for debit and credit cardholders. This initiative aligns with the bank’s strategy to provide easier and more secure banking experiences, enabling customers to make contactless digital payments worldwide. The launch reflects ahli islamic’s continuous focus on innovation and digital transformation, reinforcing its position as a contemporary Islamic bank that combines Sharia-compliant values with modern services to meet customers’ expectations in the digital age. Commenting on the launch, Noora Sultan, Assistant General Manager and Head of Retail Banking at ahli islamic, said, “Integrating innovative digital solutions, such as Google Pay, reflects our ambitious vision at ahli islamic to provide smart and secure banking services that align with global developments while remaining rooted in our Islamic and community values, 88
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creating a new model of financial innovation and empowerment. Technological advancement forms a cornerstone of the bank’s journey in building a service ecosystem that meets our customers’ expectations and provides them with complete flexibility in their banking transactions. We will continue leading the way in developing the best banking solutions to ensure that the ahli islamic experience remains at the forefront of Islamic banking services.” ahli islamic customers can now add their debit and credit cards to Google Pay in just a few simple steps, providing a modern and secure way to carry out their daily transactions without the need for physical cards. With this service, payments can be made easily via Android smartphones or Wear OS smartwatches at any point of sale that supports NFC technology. The digital wallet offers advanced layers of security, ensuring customers enjoy a convenient and safe payment experience that reflects the bank’s commitment to adopting
the latest banking technologies. Google Pay has been designed to keep pace with modern life, offering customers a payment experience that combines speed, convenience, and security. This initiative reflects ahli islamic’s commitment to simplifying everyday banking by leveraging the latest digital payment technologies, enabling customers to carry out transactions seamlessly across channels that suit their needs and modern lifestyles.
IN THE NEWS
PRUDENT GROWTH ahlibank achieves steady progress and strengthens strategic position in Q3 2025 Against the backdrop of Oman’s sustained economic momentum and ongoing diversification efforts, ahlibank has announced its financial results for the third quarter of 2025, marking another phase of purposeful growth and strategic progress. Reflecting the resilience of the national economy, the bank further cemented its standing in the capital markets while advancing customer-centric innovation with agility. Through its expanding digital ecosystem and initiatives designed to empower SMEs and nurture national talent, ahlibank continues to contribute meaningfully to Oman Vision 2040, further reinforcing its role as a trusted ‘Partner in Excellence’. For the nine-month period ended September 30, 2025, ahlibank maintained strong momentum across all key performance indicators, underscoring the strength of its business model and the disciplined execution of its strategic priorities. Net loans, advances, and financing grew by 13.8 per cent to RO3,292.7mn, reflecting continued credit expansion supported by prudent risk management. Total assets rose by 14.6 per cent to RO3,975.4mn, driven by strong demand across both retail and corporate segments. Customer deposits increased by 17.0 per cent to RO3,127.6mn, demonstrating sustained customer confidence and ahlibank’s solid market positioning. During the same period, operating income advanced 11.9 per cent to RO86.87mn, supported by healthy revenue diversification and consistent business activity, while operating expenses increased by 15.4 per cent to RO38.15mn, reflecting continued investments in technology, digital infrastructure, and human capital development. Net profit stood at RO32.47mn, up 5.3 per cent year-on-year, highlighting the bank’s ability to balance growth with stability and deliver enduring value for shareholders. Commenting on the bank’s success, Said Abdullah Al Hatmi, CEO, ahlibank, stated, “ahlibank’s journey continues to be defined by purposeful growth and a deep sense of responsibility toward the nation’s progress. As we navigate an evolving financial landscape, our focus remains on creating enduring value through innovation that anticipates customer needs, partnerships that strengthen our market presence, and investments that empower people and businesses alike. Each milestone we achieve reaffirms our belief that sustainable success stems from vision, discipline, and an unwavering commitment to serve with excellence.” Reinforcing this positive trajectory, the third quarter also marked a series of strategic milestones that reinforce ahlibank’s market leadership and forward-looking approach. The successful completion of the oversubscribed rights issue stands as a testament to strong investor confidence in the bank’s growth strategy and prudent governance framework. This capital enhancement provides greater financial flexibility and positions the bank to pursue new opportunities that support national development objectives. With a fortified balance sheet, ahlibank is well-placed to expand its financing portfolio across key sectors driving Oman’s diversification. In parallel, ahlibank remains steadfast in advancing its digital transformation journey with a focus on innovation, scalability, and
superior customer experience. The bank’s expanding suite of digital solutions—ranging from mobile banking enhancements to instant card issuance and digital corporate solutions—reflects its commitment to providing seamless, secure, and inclusive financial services. The growing adoption of these digital channels highlights customers’ trust in ahlibank’s ability to blend technology with personalized service, delivering convenience while maintaining the highest standards of reliability. By investing in robust digital infrastructure, the bank is not only meeting current needs but also laying the groundwork for future advancements in data intelligence, analytics, and AI-driven financial services. Leveraging these digital strides, ahlibank continues to strengthen its customer-centric focus, transforming innovation into meaningful value. Through strategic collaborations, lifestyle-driven offerings, and tailored reward programs, the bank enhances engagement, deepens loyalty, and reinforces its reputation for service excellence across all segments. As it moves into the final quarter of 2025, ahlibank remains firmly oriented toward the future focusing on innovation, resilience, and value creation. With solid fundamentals and an adaptive mindset, the bank is well-poised to seize new opportunities, advance sustainable finance, and contribute to Oman’s evolving economic landscape. Guided by a progressive outlook, ahlibank continues to shape the next chapter of modern banking through purpose, performance, and foresight.
INTERVIEW
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A SEMINAL CONTRIBUTION
United Securities’ digitalisation initiatives, research capabilities, experience and diversification strategy ensures good investor returns, avers Hassan Ali Jawad, Managing Director, United Securities. Mayank Singh reports The MSX has seen a 76 per cent increase in transaction value and 77 per cent rise in volumes this year. How has United Securities contributed to this growth? United Securities has played a big role in growing the market, because of a number of reasons. We have over 30 years of experience in investments and the market. Moreover, we have focused on going deep into the stock market, rather than having a shallow presence. This has helped us in creating a large base of customers. For example, we have managed to attract 55 per cent of foreign institutional investors into Oman, which is a big number. We have also been investing in technology and upgrading our systems. This has ensured that execution time is reduced, risks are controlled and speed has increased, giving clients enhanced confidence and satisfaction while dealing with United Securities. When there was an increase in the liquidity on the market thanks to new IPOs and market makers, we were able to participate in the success and growth of the market. The government and its policies regarding the economy system created an enabling environment, and we had the tools to give good returns to our clients. With the MSX market facing volatility and potential challenges ahead, what specific strategies does United Securities have in place to protect client investments? First, we try to diversify our portfolio to reduce risk. The range and depth of our market research has helped us immensely. United Securities’ research covers almost 75 per cent of the total market and this is a huge number.
This is very important because investments are based on facts and figures, and one needs to base their decisions on data. Moreover, it reduces risks for clients. As a result, the number of our clients have been increasing and we get repeat orders from domestic and international clients. United Securities follows a diversification strategy across sectors and geographies. We do not offer funds which are based on single market products. For example, our UGCC fund covers MSX and GCC bourses. We also have funds which cover the U.S. market. Funds give clients a safe investment environment without the hassle of managing their investments on their own on a day-to-day basis. Our policy has been clear – we win if our clients win. For us our customers come first. Does United Securities undertake educational initiatives to educate people or create awareness about the stock market and investment avenues? We work on several investor education initiatives. This is important as we manage different kind of portfolios across a range of clients, and we need to make them aware of the risks and opportunities. When online trading started, we used to get a lot of queries about it, and we played our part in educating investors. Overtime, people have become more aware about the benefits of online trading. Our policy is to offer advice and research to our clients and then to allow them to take their own decision. Has technology and digitalisation been
a focus area for the company. If yes, how has it impacted client satisfaction and market competitiveness? We have invested a lot in technology and trading software. These have made it easier for clients to transact and trade. It has made them self-reliant and brought in efficiencies. To cite an example, online boarding has made the process of opening investor accounts seamless. Prior to it, clients had to manually fill in forms after which it took us two to three days to get the requisite approvals. The same process now takes an hour or two. Digitalization has reduced turnaround time and increased client satisfaction. It has increased the speed of doing transactions and helped in increasing trade volumes on the market. Our investment in firewalls and other cybersecurity tools has increased the security of systems protecting customer investments. How has United Securities contributed to the success of IPOs over the last few years in Oman? United Securities role and contribution to IPOs in Oman MSX has been immense. One of the things which we are proud of is the fact that in some of the IPOs, we were among the top three collecting institutions. This is significant because we were competing with banks which had anywhere between 300-350 branches and with a single branch, we managed to be in the top three collectors. This reflects the fact that we have a broad client base, satisfied and strong relations with customers and our system and processes are working well. Overall, I think we played very big role, because
INTERVIEW
it’s not easy to raise millions, not just from Oman but also from outside the country. The MSX has been one of the best performing markets in the GCC region. What are your views on the market and its growth potential over the next year? I know one cannot predict where the markets are headed, but when we see the trajectory of the MSX this year, we are very optimistic. This is because of a few factors. One, we think the market is still undervalued. I would not say this for every company, but there are still some good stocks which have not moved up. This is because some companies go through a lag effect and start moving up after some time. Once blue-chip companies rise, others follow. Second, there is a new-found confidence amongst investors about the market. When the daily trading volume was RO2-RO3mn people were hesitant to buy in big lots as they were skeptical about their ability to sell and exit at a time of their choice, but now that trust has been restored. Investors are convinced that they can enter and exit the market with relative ease. Third, technology and online trading has enabled investors to move their investments between countries and across various investment categories. The recent rally in gold and silver underscores’ this trend. Do you think that the book value and the PE ratios of companies in the MSX are still attractive, and investors could make good returns even at these levels? Yes, I think the market is still undervalued, especially stocks of certain companies which are still discounted. Stock markets are based on sentiment. For example, there are times when PE ratio of five is perceived as expensive and then there are times when it hits 10 and people think it is still cheap. There was a time when the US markets were trading at a multiple of 50 and people thought it was cheap. So, the parameters are relative to various factors, and targets keep changing.
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United Securities has completed over 30 years of operations in Oman. How has it contributed to Oman’s economy? We are working along with the country’s economy, and I can say that the company’s vision is in line with Oman Vision 2040. We are innovating with our products and services to serve customers better. Certain things take time, and such changes may seem gradual, but we are constantly working on improving our offerings. Vision 2040 endeavours to diversify Oman’s economy and we are in alignment with this Vision. We are diversifying and enhancing our
product range by offering a diverse range of options - funds, asset management, LPs, online trading, research and more. These along with the efforts of others has led to the growth of the market. Trading volumes have grown from RO2mn to over RO30mn and everybody is benefitting from this growth. I am proud of the fact that we have been educating and training Omani students from universities and colleges every year. We take graduates and give them an opportunity to intern with us and we have seen several of them excelling in their careers or as entrepreneurs.
COLUMN
FUTURE ASSETS H aving too little money in life can be a problem, too much money can also be a burden or problem, but this can be fixed by conscientious asset allocation. An allocation to rare earth or critical materials should be part of strategic asset allocation in a globally diversified portfolio.Rare earth elements (REEs) in global portfolios might still be underrepresented in many investors’ portfolios but like bitcoin and crypto, it could offer attractive long-term returns and can create better investment portfolios. Demand for minerals such as lithium and graphite used in EV batteries could increase as much as 4,000 per cent over the coming few decades. Copper is said to be the only metal with a PhD. US President Trump recently added silver and copper to the US list of critical materials. Smart money and private clients should take notice.
Economists and market analysts monitor copper prices closely because they often reflect shifts in global economic activity before other indicators, earning it the nickname “Dr. Copper, the metal with a Ph.D. in economics, private clients and smart money investors should do the same. Copper is widely viewed as the “doctor” of global economic health and shifts in U.S. policy often act as powerful catalysts for price re-rating and investor flows. The U.S. reopening coincides with structural global demand drivers—electrification, energy transition, grid modernisation, and AI/data-center expansion—that reinforce copper’s longterm bullish trajectory. AI deserves excitement — it represents breakthrough innovation. But its most celebrated companies already reflect a future priced into their valuations. Copper, meanwhile, powers that same AI revolution data centers, automation, and electrification, yet remains valued far more modestly. Being a smart investor is to understand the hype and potential bubble surrounding Ai theme stocks like NVidia but it is not about avoiding AI. It is about investing in the backbone that AI
and the broader economy cannot advance without, and that is copper the only metal with a PhD.In the 21st century the focus is increasingly on rare earth and critical materials and the country of Kazakhstan and its currency might get more global invest attention and focus as fiat currency backed by rare earth. While New York City and Wall Street have a new mayor, it is important to recall that Wall Street runs on narratives and that it is also a large marketing machine that can influence investor psychology and global asset allocation. Rare earth elements are becoming the new oil in the age of artificial intelligence and energy transition. Global investors used to follow oil in the last century, this century global investors and smart money should follow copper prices. Just as Saudi Arabia has long been regarded as the Kingdom of Oil, Kazakhstan could emerge as the Saudi Arabia of critical materials. In time, the Kazakh tenge may even be viewed by global financial markets as a currency backed by critical materials. The global market for critical minerals is currently valued at $328bn and is projected to reach $586bn by 2032. By 2030, significant new mining capacity will be required to meet demand, especially for copper and other essential minerals. Kazakhstan’s vast potential places it at the forefront of this global growth, this could make tenge denominated assets shine like Gold. Kazakhstan is typically ranked among the top 10 copper-producing countries in the world. Copper has become a strategic mineral, similar to lithium, rare earths, and uranium. Copper sits at the intersection of electrification, energy transition, and global infrastructure growth — with demand rising and supply constrained, making it a strategic long-term investment theme. Portfolio construction and asset allocation should include some allocation to copper and copper producing companies going into 2026 & beyond investing in copper, copper futures, and copper equities involves
Rainer Michael Preiss Partner & Portfolio Strategist at Das Family Office in Singapore
significant risks and may not be suitable for all investors. Before investing, you should carefully consider your financial situation, investment objectives, risk tolerance, and seek professional financial advice if needed. Diversification is key to managing risk and should be considered when adding copper investments to your portfolio. In many investment decisions the so-called route to market is important, similar to when you have money in any bank, money in which currency and in which bank in which country and at which interest rate or profit rate or no rate if an Islamic investor., are important questions. The availability of REE-focused funds or ETFs may vary depending on factors such as region, market demand, and investor interest. It is essential to conduct thorough research and consult with a financial advisor before investing in any specific fund or ETF to understand its objectives, holdings, and risks. Additionally, new funds or ETFs may emerge, so it is important to check latest information from financial institutions and market data providers. Determining the appropriate portfolio weighting for rare earth elements (REEs) in a balanced portfolio depends on various factors, including your investment goals, risk tolerance, time horizon, and overall investment strategy. REEs can be considered a niche or specialized sector within the broader commodities market, so their inclusion in a portfolio should be carefully evaluated.
INTERVIEW
A STRATEGIC PARTNERSHIP
Aleksey Valkov, Deputy Director of the Roscongress Foundation and Director of the St. Petersburg International Economic Forum shares his thoughts on growing bilateral economic and cultural ties between Russia and Oman in an exclusive interview with Mayank Singh
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The year 2025 marks 40 years of diplomatic relations between Russia and Oman. His Majesty Sultan Haitham bin Tarik visited Russia and met Mr. Vladimir Putin, The President of Russia in April 2025 reflecting the significance of this relationship. Can your share the initiatives undertaken by Russia and Oman to strengthen this historic bilateral relationship in recent years? Russia and Oman really reached a high level of cooperation. The historic meeting of His Majesty Sultan Haitham bin Tarik with the President of Russia Vladimir Putin emphasised the importance of strategic partnership between two countries. In recent years Russia and Oman have intensified initiatives to strengthen cooperation in the direction of reducing tariffs, simplification of customs procedures, protection of investment and infrastructure development. This contributes to the formation of strategic partnership,
given the current global challenges and the Russian course “Turn to the East”. Oman is increasing the multivector policy, and Russia becomes an important partner in this diversification, which opens additional opportunities for economic cooperation and implementation of joint projects for long-term perspective. I also want to highlight that in 2024 Oman became a guest country of the Petersburg International Economic Forum. A specific example is the signing of an agreement between the governments of Russia and Oman on mutual cancellation of visa requirements for both countries on April 22, 2025. Now citizens of Russia and Oman can stay free up to 30 days per trip, and upto 90 days in a calendar year, which greatly facilitates business and travel, contributing to the growth of mutual tourism and business contacts. In addition, Russia and Oman are developing cooperation in trade,
investment and infrastructure projects. Oman is actively involved in projects related to the energy sector, including joint development of technologies. An important initiative was to expand transport cooperation, including discussion of opportunities for direct air flights. All this confirms long-term interest in strengthening economic ties. These active steps in the political and economic dialogue create favourable conditions for sustainable partnership and joint development, strengthening Russia and Oman’s position as strategic partners in the international arena. You are in Muscat as a part of the Russian delegation for the Russia Oman Business Forum. What are your thoughts and expectations from the Forum? Business Forum Oman-Russia is an important platform for business cooperation development. Expectations from the forum are linked to the empowerment of sharing experiences,
INTERVIEW
establishing new contacts and discussing the prospects for joint projects. For the Roscongress Foundation it is an opportunity to demonstrate the potential of the Russian-Oman relations, to promote the links between entrepreneurs of both countries, as well as to expand the economic agenda of bilateral relations. Which are the most promising sectors for joint ventures and localised production between Russia and Oman? Promising industries to create new joint projects and deepening existing cooperation are energy, oil and gas sector, renewable energy, as well as technology, transport, agriculture, health and tourism. Representatives of all these industries are just taking part in the Russia Oman Business forum. In particular, there are already projects in energy efficiency and green energy, which is a priority direction for both countries. In addition, much attention is being paid to digitalisation and the IT sector as a field for sharing experience and innovation. The promising areas related to exports are metallurgy, pharmaceuticals and construction. Russia and Oman share common interests in the Energy and Renewable sectors. How are these ties being enhanced? Strengthening business ties is accompanied by active participation of Russian companies and expert teams in Oman’s energy projects and the Roscongress Foundation contributes to this through organising business forums and meetings in which experience between industry representatives is exchanged. The key platform for this kind of meeting is the St. Petersburg International Economic Forum. SPIEF is one of the most largescale and significant business events that annually unites thousands of participants, including politicians, heads of state, heads
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of major companies and business representatives, scientific community and media to discuss the relevant issues of the Russian and world economy and to conclude business agreements. One more important platform here is the Russian Energy Week – the largest international forum dedicated to the issues related to the oil & gas industry, renewable energy, energy security and sustainable development. Russia is investing in the future through digitalisation and technology led initiatives. In what ways can Oman benefit from Russia’s experience and expertise? Russia, as one of the leading countries to develop digital technologies and innovation, demonstrates a significant potential for the development of international cooperation in this field and can indeed share experiences and knowledge regarding the digital industry, application of artificial intelligence, and educational and scientific initiatives. This can be an example or an additional incentive to accelerate digital transition and use of advanced developments for the modernisation of the economy, public services and development of smart cities. Our Oman partners have shown a special interest in Russia’s development of digital urban services in Russian industry forums. For example, the Russian Export Center considers Oman not only as a sales market, but also as a platform for localisation of Russian Productions and creation of joint IT enterprises. This will allow Oman to access technology and expertise directly, contributing to the development of its own high-tech sector. This issue was also a subject of discussion at SPIEF in 2025. To implement joint opportunities Russia and Oman created a working group on trade and economy, scientific and technical cooperation, as well as intergovernmental commissions for
institutionalisation of cooperation. These structures will provide a systemic approach of sharing experience and launching specific projects. Please give us an overview of the Roscongress Foundation and its role in promoting Russia’s economic and cultural development? The Roscongress Foundation plays an important role in strengthening Russia’s cultural ties with other countries, using its major international forums as platforms for cultural diplomacy and presentation of Russia’s cultural heritage. This work is carried out through a number of initiatives and special projects: Integration of cultural programs into business activities - Forums such as SPIEF and EEF (Eastern Economic Forum) are complemented by extensive cultural and sports programs that contribute to informal communication between participants from different countries and familiarisation with Russian culture. The St. Petersburg Seasons Festival – is a SPIEF cultural festival, which combines many cultural events, from museum-exhibition routes and excursions to theatrical performances and concerts, attracting thousands of guests. The presentation of the culture of Indigenous peoples. The Festival “Soul of Russia” tells about the culture of Indigenous small peoples of Russia within the framework of the largest business events, introducing the international audience with a unique cultural diversity of the country. In addition, there are direct educational initiatives and the creation of foreign cultural centres. An example of direct participation in cultural diplomacy is the opening of the Russian school of Arts in the Sultanate of Oman. It became the first such project in the Middle East and allows Russian educational and cultural programs abroad to be broadcast directly.
TECHNOLOGY
SHAPING THE FUTURE
Empowering Oman’s digital future: Oman Data Park partners with Axway to advance secure data exchange and API Innovation
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man Data Park (ODP), the Sultanate’s leading provider of managed IT services and cloud solutions, has announced a strategic partnership with Axway, a global leader in API management and digital integration solutions. The collaboration represents a major stride in strengthening secure data exchange, interoperability, and API-driven innovation across Oman’s public and private sectors. By integrating Axway’s globally recognised capabilities into ODP’s trusted infrastructure, the partnership enables organisations to drive innovation, enhance service delivery, and unlock greater digital value in alignment with the objectives outlined in Oman Vision 2040. Commenting on the partnership, Eng. Maqbool Al Wahaibi, CEO, ODP, said, “At Oman Data Park, we believe that sustainable digital transformation stems from a clear direction, strategic collaboration, and the continuous pursuit of technological excellence. Our alliance with Axway reinforces this philosophy by combining international expertise with local insight to create a secure, future-ready digital ecosystem for Oman. This partnership not only enhances our ability to deliver advanced integration and API management solutions but also exemplifies our approach to building alliances that add tangible value to the nation’s digital landscape. By joining forces with globally trusted technology leaders, ODP continues to strengthen its role as a catalyst for progress, ensuring that our clients benefit from best-in-class technologies while the broader economy gains from increased efficiency, compliance, and innovationdriven growth.”
Through this collaboration, ODP will deliver Axway’s extensive suite of products and services — including advanced API lifecycle management, secure AI integration, managed file transfer, B2B data exchange, and developer engagement and monetisation tools — leveraging its state-of-the-art infrastructure in Oman. This localised deployment enables enterprises and government entities to streamline cross-platform communication, modernise legacy systems, and derive deeper insights from data with enhanced agility and control. By anchoring these globalgrade solutions in ODP’s secure cloud environment, the partnership ensures full data sovereignty and compliance while empowering clients to accelerate digital advancement and scale digital services efficiently. In addition to Axway’s technology portfolio, ODP will offer local access to software licenses, SaaS solutions, and professional services and training programs that help organisations maximise their digital investments.
This initiative contributes directly to in-country value creation by promoting knowledge transfer, supporting national talent development, and reinforcing Oman’s position as a secure and self-sufficient digital hub. In doing so, the alliance underscores a shared commitment to advancing a connected, resilient, and progressive economy founded on trust, capability, and collaboration. As a trusted technology enabler, ODP continues to shape the digital future of the Sultanate by combining operational excellence with forwardlooking innovation. With a proven track record of supporting missioncritical infrastructure and enterprise transformation, ODP remains at the forefront of advancing secure cloud adoption, data intelligence, and nextgeneration IT services. Its continued investments in emerging technologies and strategic partnerships reaffirm its commitment to cultivating an ecosystem where digital advancement fuels economic growth and national competitiveness.
COVER STORY
VALUE CREATION
Banks and institutions create sustainable wealth strategies for Oman’s landscape. An OER Report
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he wealth management sector is navigating a complex environment characterised by significant shifting client expectations, market fluctuations and rapid digital advancements. Inflation and geopolitical uncertainties have deeply affected investor sentiment, creating challenges for advisors and firms that seek to deliver consistent performance. In this backdrop, there is a rising focus on comprehensive financial planning, demand for sustainable investment options, and the integration of AI-driven client engagement tools, all of which are redefining excellence in wealth management and compelling firms to innovate to meet client needs. In the current scenario, enhancing financial literacy and planning through wealth management has become essential. By offering personalised financial advisory services, banks and institutions are now empowering individuals and families to optimise their savings, raise awareness about the importance of financial planning, and promote long-term economic stability within the Omani investor community by fostering informed investment decisions. Bank Muscat, the leading financial services provider in the Sultanate of Oman, has always aimed at positioning itself as the trusted and preferred partner for customers seeking better returns on their savings and investments. With a focus on personalised investment options, the Bank’s wealth management solutions are set to redefine the investing experience of customers. In line with this vision, Bank Muscat launched a special campaign to raise awareness about the significance of effective wealth management. This initiative was designed to assist individuals in achieving their financial goals by providing tailored investment plans 18 18
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and personalized wealth management services. The Bank’s investment offerings encompass a range of products, across mutual funds, bonds and other asset classes. Customers of Asalah Priority Banking and Al Jawhar Privilege Banking can access these investment offerings, under the guidance of an experienced wealth managers and can start investing as per their risk appetite, with the minimum applicable amount for local and international securities. The Bank is committed to guiding customers through their investment journey, ensuring they have access to a wide range of investment options, including local and international securities, bonds and mutual funds, along with comprehensive portfolio tracking. The Bank provides tailored investment solutions to help high profile customers achieve their
financial aspirations, be it retirement planning, generation of passive income or wealth diversification. Some of the common investment options include: securing a stable, predictable income through interest especially for retirees, generation of passive income from investments, focusing on long-term growth while preserving wealth and balancing investment risk effectively with portfolio diversification. Customers who have savings and wish to grow their wealth through other investment options, can apply for wealth management products through the various branches in governorates, and access our diverse investment offerings across local and international securities, delivered personally through experienced wealth managers. Bank Muscat Wealth Management stands out with a proven track record and has built strategic partnerships with reputed
international banks and asset managers, over the years. Sohar International’s wealth advisory, distinguished as one of the country’s premier Investment Platforms, introduced its Investment Services in 2019, offering a diverse portfolio that includes Bonds, Mutual Funds, and ETFs, spanning international markets with multiple currency options. As one of the largest Investment Platforms, it provides advisory services to Individuals, Corporates, and Government Entities. Its strengths lie in conducting thorough research and market analysis, resulting in a robust investment performance. Their personalised portfolio reviews ensure alignment with clients’ financial goals and risk appetite, showcased through tailored strategies for retirement planning and longterm growth. Sohar International’s extensive suite of investment products caters comprehensively to client needs, offering stability, income generation, and growth opportunities, tailored for both conservative and aggressive investors. The bank’s Wealth Management transcends conventional services, offering tailored financial products covering savings, borrowing, insurance, investments, and everyday banking needs. It seeks to go beyond traditional financial advisory services by providing highly customised investments and insurance, along with other financial products and services. The bank’s comprehensive ecosystem provides a range of benefits, delivered with dedicated commitment and personalised attention. Backed by certified advisors with global insights, the bank facilitates access to international markets through strategic partnerships with renowned international entities, prioritising a secure environment for clients to achieve financial success. Continuing its leadership in developing Sharia-compliant financing solutions and reinforcing its position as the leading and most trusted Islamic bank in the Sultanate of Oman, Bank Nizwa signed a strategic Memorandum of Understanding with Jabal Asset Management LLC, a global emerging markets specialist,
investment manager and broker based in Oman. This partnership brings together Bank Nizwa’s deep expertise in Islamic finance and its advanced banking infrastructure with Jabal Asset Management’s specialisation in asset management and investment in the global emerging markets. As part of the Memorandum of Understanding, both parties will explore the development of Shariacompliant funds designed to meet the needs of diverse investor segments. Bank Nizwa will play a pivotal role in ensuring these products adhere to the highest regulatory standards, while Jabal Asset Management will contribute its asset management acumen to structure and manage products across geographies. This collaborative effort is expected to open pathways for innovative investment strategies that resonate with evolving investor expectations. This MoU underscores a shared vision of supporting Oman’s economic diversification goals, fostering financial innovation, and advancing the role of Islamic finance in global asset management. In addition, the partnership extends to capital raising initiatives, leveraging Bank Nizwa’s extensive distribution channels to connect investors with carefully curated Sharia-compliant opportunities. The collaboration includes emerging markets brokerage services, with a focus on enhancing accessibility and efficiency. By integrating these services, the two institutions aim to deliver comprehensive solutions that enhance value creation for customers. The agreement also outlines opportunities for Jabal Asset Management to provide tailored investment management strategies for Bank Nizwa’s high net worth clientele, addressing their unique aspirations within Shariacompliant mandates. Extending beyond client-specific solutions, the collaboration is equally focused on cultivating broader market understanding. Aligned with Bank Nizwa’s emphasis on thought leadership, the partnership envisions co-hosting market engagement platforms, knowledge-sharing forums, and customer education sessions aimed at strengthening awareness of emerging market opportunities and advancing the discourse on Sharia-compliant
investments. Marking a milestone in Oman’s banking and financial sector, BankDhofar announced it has partnered with BlackRock, one of the world’s largest asset manager. This collaboration, the first of its kind in Oman, will redefine wealth management by offering customers exclusive access to worldclass investment strategies and advisory services. With $11.6 trillion in assets under management (AUM), BlackRock is a global leader in investment strategies, risk management, and technology-driven financial solutions. Through this partnership, BankDhofar is enhancing its wealth management offerings, providing high-net-worth individuals (HNWIs), affluent families, and corporate clients with innovative financial solutions tailored to their unique investment needs. Clients will gain access to a globally diversified portfolio across asset classes—all backed by BlackRock’s industry-leading expertise. By combining BlackRock’s global strength with BankDhofar’s deep local knowledge and trusted relationships, the partnership delivers a comprehensive wealth management experience. Clients will benefit from customized portfolio strategies, sustainable investment options, and long-term wealth preservation solutions. Additionally, BankDhofar’s wealth management division, staffed with seasoned financial advisors and investment specialists, will leverage BlackRock’s insights to provide holistic financial planning and investment management solutions across multiple jurisdictions. This partnership reinforces BankDhofar’s leadership in Oman’s wealth management sector. It follows the successful launch of BankDhofar’s Private Banking segment, which serves HNWIs, corporate clients, and affluent segments with worldclass wealth solutions, private banking expertise, and access to an extensive banking network. Committed to delivering sustainable long-term value, the Private Banking Division provides specialised core and non-core banking services alongside tailored wealth and lifestyle management solutions.
COVER STORY
TRANSFORMING ENTREPRENEURSHIP
Oman Arab Bank launches exceptional initiatives and advanced financial solutions that empower entrepreneurs towards grandiose growth and prosperity
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nder Oman’s Vision 2040, which aims to diversify the economy and promote sustainability, Oman Arab Bank holds a leading position in supporting the small and mediumsized enterprises (SME) sector, one of the Sultanate of Oman’s key economic drivers. With a renewed approach that combines advanced banking solutions and impactful community initiatives, the Bank strives to empower entrepreneurs to become active contributors to the economic renaissance. Oman Arab Bank’s initiatives have also strengthened its strong partnership with entrepreneurial clients, helping thousands of them join its growing base of SME customers. During this year, Oman Arab Bank continued its efforts to support entrepreneurship by launching two new initiatives: the training programme for the development of small and medium-sized enterprises (SMEs) and a comprehensive digital banking platform offering financial services for entrepreneurs. The training programme initiative targets SMEs across six governorates: Muscat, Al Dakhiliyah, North Al Batinah, South Al Batinah, South Al Sharqiya and Dhofar. Both initiatives are part of the integrated activities under the “Tumouhi” program, which aims to nurture and develop entrepreneurs, prepare them to lead businesses, and enhance their contribution to economic growth. As part of implementing its initiatives, Oman Arab Bank has begun organising targeted training workshops for entrepreneurs across several 20 20
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governorates. The bank has leveraged its partnerships with leading global training and development institutions to deliver these workshops in line with the best modern management practices, contributing to achieving the goals of Oman’s entrepreneurship sector, which seeks to play a major role in supporting economic diversification and promoting sustainability. Sulaiman Al Hinai, Chief Wholesale Banking Officer, OAB stated, “We place the small and medium-sized enterprise (SME) sector at the forefront of our priorities, as it is one of the key growth drivers supporting the government’s focus on economic diversification, knowledge-based development, encouraging startups, and creating meaningful job opportunities for citizens. As Oman Vision 2040 steadily achieves its objectives and guides the economy toward sustainable growth, we ensure that our business strategy aligns with the vision’s ambitions and that we remain an active partner in realizing national priorities by supporting the private sector and entrepreneurship activities, enabling them to become a major source of momentum for economic growth and the expansion
of non-oil sectors. Through our continuous and innovative initiatives, we aim to build national capacities and develop human resources as part of our long-term sustainable growth strategy. These initiatives include programs that have a lasting impact on the growth of the economy and the development of the entrepreneurship sector, such as the Ruwad Al Arabi Leadership Development Program, the Ruwad Al Arabi Youth Empowerment and Training Program, and the Tumouhi program, which serves as a comprehensive platform to support entrepreneurs’ skills across financial, technical, and advisory aspects. This includes a digital banking platform designed to provide tailored financial solutions and exclusive benefits that meet entrepreneurs’ aspirations, support their needs, and enhance the growth and advancement of their businesses.” Al Hinai added, “As a long-established financial institution in Oman, we possess extensive expertise in banking and finance, and our teams operate at a world-class level, supporting the bank’s comprehensive transition toward digital services and achieving customer satisfaction. This has enabled us to successfully develop the best banking products and financial solutions that meet the needs of all our client segments, including small and medium-sized enterprises (SMEs). The Bank continuously seeks to strengthen its partnerships and cooperation with all relevant entities involved in job creation, entrepreneurship support, and the development of national talent and future leaders, including
the Ministry of Labour and the Small and Medium Enterprises Development Authority. At Oman Arab Bank, we have strong confidence in the capabilities of Omani entrepreneurs and take pride in supporting their growth and business expansion through a comprehensive vision that addresses all growth requirements needed by SMEs. Our programs, initiatives, and innovative services for this segment focus on providing technical and financial support, educating and training entrepreneurs, and ensuring the success of their ventures. We are delighted by the increasing number of entrepreneurs
benefiting from Oman Arab Bank’s advanced and comprehensive services, with thousands joining our growing base of SME clients. Likewise, our credit facilities portfolio for small and medium enterprises continues to expand, thanks to the ease of procedures and competitive financing rates we offer to our entrepreneurs.” Since its launch as one of the most prominent initiatives supporting small and medium-sized enterprises (SMEs) in Oman, the “Tumouhi” program by Oman Arab Bank has received strong reception from entrepreneurs. The
program offers them comprehensive and easy-to-access financial solutions and services, including exclusive benefit packages and a complete support system. It provides a seamless banking experience for SMEs, along with integrated services such as financial and banking support, legal assistance, delivery and postal services, accounting solutions, cybersecurity measures, governance and compliance, and business communications. In addition, the program offers opportunities to participate in workshops for training and education across various areas related to entrepreneurship.
ECONOMY
EMPOWERING PROGRESS
MSX successfully hosts sixth edition of the MSX Chairman’s Dialogue featuring Wendy Werner, World Bank Group Country Manager for Oman
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he Muscat Stock Exchange (MSX) successfully hosted the sixth edition of its flagship Chairman’s Dialogue, featuring Ms. Wendy Werner, Country Manager of the World Bank Group for the Sultanate of Oman, as the keynote speaker. Held on November 10, 2025 at the Kempinski Hotel Muscat under the theme “Maximising Finance for Development,” the session brought together more than 350 distinguished in-person attendees and more than 400 virtual participants, including senior officials, policy makers, 22 22
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business leaders, investors, and representatives from the academic community. In an engaging dialogue with Mohammed Mahfoodh Al Ardhi, Chairman of the Board of Directors of MSX, Werner explored how emerging markets such as Oman can strategically mobilise private capital to drive sustainable growth and diversification.
journey towards sustainable growth. Platforms like the MSX Chairman’s Dialogue offer opportunities to learn from global experience while showcasing Oman’s progress in developing an enabling investment environment. The sixth edition of the Chairman’s Dialogue once again demonstrated the power of collaboration and open exchange in shaping the future of finance and development.
Reflecting on the event, Mohammed Mahfoodh Al Ardhi said, “Visionary reforms and forward-thinking financial policies underpin Oman’s
“We are deeply honoured by Werner’s participation, and the insights she shared during this dialogue reinforce the importance
to anchor and attract investment, deepening its capital markets, and advancing innovative financial instruments. Wendy Werner commented, “Oman’s dedication to creating an enabling investment climate and sustainable market growth demonstrates the country’s readiness to embrace innovative financing models that align with its Vision 2040 objectives. The dialogue with MSX offered an excellent opportunity to exchange ideas on how development finance, private capital, and effective regulation can jointly accelerate economic transformation and build resilience for the future.”
of building strong partnerships between the public and private sectors to mobilise capital effectively and drive inclusive economic growth. We remain committed to fostering these exchanges as catalysts for progress.” The discussion centred on the World Bank Group’s focus on “Private Capital Mobilization,” which advocates the strategic use of public resources to de-risk and crowd in private investment for priority development projects. Ms. Werner also underscored the significance of public-private partnerships, asset recycling, and
the creation of enabling investment frameworks as essential mechanisms for attracting long-term, sustainable financing. Drawing on global experiences from countries such as Vietnam, Brazil, and India, she illustrated how governments can unlock the value of public assets and channel private investment into infrastructure, develop agribusiness supply chains, renewable energy, and innovation. The discussion further highlighted Oman’s progress under Vision 2040, particularly in using public investment
The interactive discussion was followed by an engaging Q&A session with attendees, offering valuable opportunities for knowledge sharing and cross-sector engagement. The MSX Chairman’s Dialogue series, launched by the Muscat Stock Exchange as a recurring initiative, has grown into one of the Sultanate’s leading thought-leadership platforms, connecting Oman with international voices from diverse fields, including economics, policy, sustainability, and strategy. Each edition underscores MSX’s broader mission to strengthen Oman’s capital markets, promote investment literacy, and support the nation’s economic transformation journey. Through such platforms, MSX continues to contribute to the development of a vibrant, transparent, and globally connected marketplace.
Oman’s dedication to creating an enabling investment climate and sustainable market growth demonstrates the country’s readiness to embrace innovative financing models that align with its Vision 2040 objectives
ECONOMY
INNOVATIVE IDENTITY
Central Bank of Oman unveils new currency symbol for Omani Rial
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n a defining moment for the nation’s financial identity, the Central Bank of Oman (CBO) has officially launched the first-ever symbol for the Omani Rial – a move that marks a significant national milestone and positions the Sultanate more confidently on the global financial map. The introduction of an official currency symbol places the Omani Rial alongside some of the world’s most recognisable currencies, reinforcing its presence across international financial, commercial, and digital platforms. HE Ahmed Ja’afar Al Musalmi, Governor of the CBO, described the launch as a strategic leap that strengthens the Sultanate’s ambition to establish itself as a promising global financial hub. He noted that the adoption of a unified currency symbol enhances the Rial’s visibility,
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makes it instantly recognisable, and helps facilitate international exchange operations. As global financial systems continue to digitalise, having a distinct and modern currency symbol becomes a necessity rather than an option, and can be seen as a step that signals the maturity and readiness of Oman’s financial sector on the world stage. The new symbol reflects the advancement of Oman’s financial infrastructure and sends a clear message to international investors about the stability and credibility of the Omani economy. In an increasingly competitive global environment, where investor confidence plays a defining role in attracting capital, the move underscores Oman’s commitment to transparency, modernisation, and international alignment. It reinforces the image of the Rial as a strong, stable, and trustworthy currency backed by a robust regulatory system.
A unified currency symbol not only enhances consistency and professionalism across banking systems and economic reporting, but also positions Oman alongside countries that have successfully leveraged currency branding — such as the US Dollar ($), British Pound (£), Indian Rupee ( ), and Japanese Yen (¥). Equally significant is the cultural and civilisational value embedded in the symbol’s design. Drawing inspiration from Oman’s rich heritage and its long history as a trading nation, the symbol connects modern economic aspirations with deep-rooted traditions. Oman has used various forms of currency across different eras, each reflecting its trade links and economic presence. The modern symbol becomes a contemporary extension of that legacy, representing both continuity and progress.
TRADE
UNLOCKING POTENTIAL
Opening of the Consulate Office of the Republic of South Africa in Muscat strengthens bilateral relations
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n a significant milestone for diplomatic and economic relations between the Sultanate of Oman and the Republic of South Africa, the Honorary Consulate of the Republic of South Africa was officially inaugurated in Muscat. The ceremony took place at the new consulate premises in Shati Qurum, in the presence of distinguished guests and members of the diplomatic community. The inauguration ceremony was held under the patronage of HE Khalid bin Hashil Al Muslahi, Undersecretary of the Ministry of Foreign Affairs for Administrative and Financial Affairs. The ribbon was jointly cut by HE Khalid bin Hashil Al Muslahi, Her Excellency Lujaina Mohsin Darwish, Honorary Consul of the Republic of South Africa in the Sultanate of Oman, and HE Mogobo David Magabe, Ambassador of the Republic of South Africa to Saudi Arabia, Non-resident Ambassador to the Sultanate of Oman. The event was attended by distinguished Ambassadors to the Sultanate of Oman, several dignitaries from South Africa, members of the diplomatic corps, and prominent representatives from the business community. The opening of this new consulate marks an important step toward enhancing bilateral cooperation, fostering trade and investment, and strengthening peopleto-people connections between the two nations. Speaking on the occasion, HE Khalid commended the growing partnership between Oman and South Africa, emphasising the mutual commitment to deepening diplomatic, cultural, and economic relations. In her address, Honorary Consul Lujaina Mohsin Darwish expressed her pride and gratitude for the opportunity to represent the Republic of South
Africa in Oman. The inauguration of the Honorary Consulate of the Republic of South Africa in the Sultanate of Oman was marked as an important step in strengthening the relationship between the two nations. The newly appointed Honorary Consul highlighted the long-standing commitment of Oman and South Africa to cooperation, cultural understanding, and shared progress. The consulate is positioned to support closer ties across trade, tourism, education, and culture, and to serve as a gateway for citizens of both countries. Appreciation was extended to the South African government and the leadership of Oman for their continued support. The message closed with a commitment to serve with dedication and unity as both nations work toward a brighter future. HE Mogobo David Magabe, Ambassador of the Republic of South Africa to Saudi Arabia & Non-resident Ambassador to the Sultanate of Oman, highlighted that the official launch of the Honorary Consulate of South Africa in Muscat strengthens diplomatic, economic, and cultural ties between South Africa and Oman. The consulate will support citizens, promote business connections, and foster people-topeople relations. The appointment
of HE Lujaina Mohsin Darwish as Honorary Consul underscores a shared commitment to collaboration and future opportunities between the two nations. During the opening ceremony, the official website of the Honorary Consulate of South Africa in Muscat was launched, along with the introduction of its social media page for public engagement. The newly established consulate will serve as a key point of contact for visa and consular services, providing support to South African citizens in Oman and facilitating collaboration between businesses and institutions in both countries. The consulate will operate Sunday to Thursday, from 9:30 am to 3:30pm, at Way No. 3017, Shati Qurum, Muscat. The Republic of South Africa and the Sultanate of Oman share a longstanding relationship grounded in mutual respect and cooperation. Over the years, both countries have explored opportunities in trade, energy, mining, tourism, and education. The opening of the Honorary Consulate signifies a renewed effort to build upon this foundation and unlock new avenues of partnership for future growth.
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INDUSTRY
STRATEGIC ROADMAP Madayn records cumulative investments of RO7.8bn by mid-2025
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ng. Dawood bin Salim Al Hadabi, CEO, Public Establishment for Industrial Estates “Madayn,” affirmed that the remarkable growth and expansion witnessed across the Sultanate’s industrial cities today represent an extension of the deeprooted industrial march dating back thousands of years. “The foundations of the modern Omani industry were unfolded during the Al Busaidi Dynasty, as historical resources reveal that the shift from
traditional to modern industry began gradually starting from 1744 under the leadership of Imam Sayyid Ahmed bin Said Al Busaidi, founder of the Al Busaidi State. This shift is attributed to the expansion and openness that the Sultanate witnessed during his era and the subsequent periods across economic, social, and cultural spheres,” Al Hadabi noted. “This progress led to the emergence of new industries in various sectors such as shipbuilding, metals, food production, and perfumes. This legacy evolved further with the dawn of the modern Renaissance in 1970, as the Sultanate embraced institutional reforms, adopted advanced technologies, and opened new horizons for the Omani products in global markets,” he said. He added, “His Majesty Sultan Haitham bin Tarik has given distinguished attention to the industrial sector under the Renewed Renaissance, as reflected in the modernisation of investmentrelated laws and regulations, and the continued establishment of a robust infrastructure that includes ports, airports, and newly developed industrial, economic and free zones, in addition to an extensive network of expressways linking the Sultanate’s governorates. His Majesty’s vision also encourages investment in emerging sectors, paving the way for broader horizons and promising prospects for the industrial sector.” Al Hadabi pointed out that Madayn recorded notable growth across all performance indicators by the end of the first half of 2025. “The total cumulative investment volume touched around RO 7.8bn, reflecting a 2 per cent increase compared to the same period in 2024. Additionally, the total number of projects reached 2,095, representing a 3 per cent rise, while the
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total number of contracts climbed to 2,385, exceeding a 3 per cent increase. Moreover, the total leased area across all industrial cities, Knowledge Oasis Muscat and Al Mazunah Free Zone reached 34.6 million sqm with a growth percentage of 2 per cent, equivalent to 68 per cent of the total developed area of 61.6 million sqm. During the same period, Madayn received 215 new investment applications and signed 124 new contracts with a combined investment value exceeding RO 80mn, covering more than 895,000 sqm,” Al Hadabi remarked. The CEO of Madayn highlighted that under the Tenth Five-Year Development Plan (2021–2025), Madayn implemented a series of strategic projects designed to enhance the investment environment and promote sustainability across the Sultanate’s governorates. These included the development of Phase 1 of Ibri Industrial City covering 3 million sqm; infrastructure and services project for Mahas Industrial City on 1.4 million sqm; consultancy and design services for Madayn Entrepreneurial Complexes in Al Rusayl, Nizwa, Mahas, Al Suwaiq, and Madha Industrial Cities; and infrastructure works for Phase 7 of Suhar Industrial City spanning more than 8.5 million sqm. Additionally, Madayn conducted comprehensive surveys and aerial mapping of its industrial cities using advanced drone technology. Al Hadabi commented that the Tenth Five-Year Development Plan also witnessed a major institutional and technological transformation across Madayn, transitioning from traditional operations to an integrated model of excellence and digital governance. Through the adoption of the EFQM Excellence Model, Madayn achieved Level 2 recognition from the European Foundation for Quality Management.
In this regard, key digital initiatives were launched include the IFS Cloud ERP system, ESRI ArcGIS platform, Masar eServices platform, internal services platform, Durbah eLearning platform, internal platforms such as “Your Opinion Matters” and the “Unified Channel,” in addition to the redeveloped official website of Madayn. These projects have significantly strengthened the readiness, security, and reliability of the systems to the highest standards.
Eleventh Five-Year Development Plan (2026–2030)
Looking ahead, Al Hadabi emphasised that Madayn is finalising its strategic roadmap for the Eleventh Five-Year Development Plan (2026–2030), aligned with the priorities of Oman Vision 2040. “The plan defines Madayn’s role as a key national enabler within the competitive economy pillar and as a strategic partner in promoting sustainable environmental practices. The plan also reflects Madayn’s role in bridging sustainable economic growth with responsible production, in addition to focusing on the Oman Vision 2040’s priorities, comprising the Development of Governorates and Sustainable Cities; Private
Sector, Investment, and International Cooperation; Economic Diversification and Fiscal Sustainability; Labour Market and Employment; and Leadership and Management,” he elaborated. In formulating this plan, Madayn has prioritised achieving balanced spatial development that strengthens the competitiveness of the governorates, while empowering the private sector to play an active role in driving the national economy. The plan also
focuses on developing leading sectors that advance economic diversification alongside complementary industries, enhancing an attractive labour market for national talents and specialised expertise, and enhancing the sustainability of natural resources through the adoption of renewable energy. The initial plan encompasses 98 main projects distributed across three strategic tracks: 51 projects in development and operations,
INDUSTRY
services, the enhancement of digital skills among the human cadres, and the establishment of an integrated training system in intelligent analytics and AI. The plan further focuses on enforcing national regulations for digital transformation governance and national data, adopting advanced cybersecurity policies, and achieving seamless integration with national government platforms. To maximise the benefits of natural resources and competitive advantages across the Sultanate’s governorates and to attract local and foreign investments towards targeted projects and sectors that enhance GDP growth and promising industries, Al Hadabi informed that Madayn has worked on establishing integrated economic clusters to achieve a qualitative leap in supporting the economic diversification agenda. 36 projects in institutional excellence, and 11 projects in environmental sustainability. Among Madayn’s upcoming projects in the coming five years are the infrastructure and services project for Phase 1 of Al Mudhaibi Industrial City on an area of 2.5 million sqm; infrastructure and services project for Phase 1 of Al Suwaiq Industrial City on an area of 5 million sqm; infrastructure and services development for Madha Industrial City on an area exceeding 348,000 sqm; development and rehabilitation project for the infrastructure and the detailed masterplan for Al Wadi Al Kabir Industrial City; upgrades in the current services and rehabilitation of infrastructure in Suhar Industrial City (Phases 1–6), development of the marine berth and development of the masterplan in Sur Industrial City; as well as the expansion of the water networks in Raysut Industrial City. On another front, the Digital Transformation Executive Plan (2026–2030) represents a strategic leap that unifies Madayn’s projects under a comprehensive institutional transformation framework. Preparations for this plan involved extensive analyses of the business 30 30
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environment and the current state of digital solutions, including SWOT and PESTEL models, the identification and prioritisation of challenges, and benchmarking against leading global institutions. The updated plan aims to implement 105 digital projects across 12 key pillars that cover various dimensions of government digital transformation, including digital readiness, user experience, digital enablement, and digital innovation. The plan also aspires to achieve international recognition for two industrial cities as smart cities, fully automate 100% of priority services with complete integration with government and private bodies, and increase investor satisfaction with the provided e-services to over 85%. This plan integrates advanced technologies such as artificial intelligence, Internet of Things, big data, and renewable energy into the infrastructure of Madayn’s industrial cities. Besides, the plan sets quality objectives, including the establishment of smart operation centres for realtime performance monitoring, the launch of a unified digital investment portal linking logistics and licensing
Madayn has completed the consultancy services project for the Integrated Mining Economic Cluster in Shaleem area, which includes in its initial stages a detailed masterplan covering approximately 30 million sqm, in addition to a detailed design for a 10 million sqm area serving the oil, gas, and mining sectors. The design focuses on the development of essential infrastructure, facilities, and support services such as roads, water networks, sewage network, and rainwater drainage channels. The project also includes a comprehensive economic and marketing study for the cluster. Additionally, Madayn has commenced developing the implementation plan for the Integrated Aluminium Economic Cluster in Suhar Industrial City. The detailed plan and performance indicators have been completed and aligned with relevant public and private stakeholders to achieve the cluster’s main objectives. A specialised consultancy firm has also been appointed to conduct a comprehensive study on downstream aluminium investment opportunities, aiming to enhance aluminium-based manufacturing industries, boost ICV, and explore promising investment prospects.
Meanwhile, the Ladayn Polymer Park in Suhar Industrial City has witnessed accelerated growth, driven by rising local and regional demand for various plastic products and supported by the attractive investment environment offered by Madayn. The total investments in the park have reached approximately RO 33.7 million, with more than 181,000 sqm area leased. The park currently hosts 19 investment projects, with some being operational, under construction, or newly contracted ventures. Al Hadabi further stated that Madayn through its enabler arm – the Industrial Innovation Academy –is implementing and managing a range of value-added initiatives designed to strengthen the innovation ecosystem within the industrial sector, empower SMEs, and enhance their competitiveness. These initiatives also encourage major companies to adopt advanced technologies and innovative solutions that support the ICV in line with Oman Vision 2040. Among the most key initiatives is the Omanisation Programme, implemented in cooperation with the Ministry of Labour, which aims at providing 1,000 jobs annually across the industrial cities. Since its launch, the programme has successfully created more than 3,000 jobs in the various industrial cities. Another key initiative is the ‘Rabt’ Platform, which connects local products with government tenders. The platform has made a significant impact by facilitating the SMEs access to business and investment opportunities through digital integration models that allow direct participation in national supply chains. For instance, the renovation project of the College of Law in the Sultan Qaboos University worth RO 5.75 million, 15% of the value — approximately RO 862,500 — was allocated to factories registered on the ‘Rabt’ platform, reflecting tangible support for the SMEs in local value chains. Madayn is also coordinating with key government bodies including Oman Investment Authority, Petroleum
Development Oman (PDO), and the Public Authority for Special Economic Zones and Free Zones (OPAZ) to include registered suppliers on the platform within the mandatory local tendering lists, and further supporting local industrial investment. Moreover, the Academy supervises several strategic initiatives, including the ‘Makers Oman Centre,’ which provides prototype manufacturing facilities and has trained over 500 graduates in operating modern equipment, supporting manufacturing operations by no less than 90 per cent. The Academy also oversees Intaj Suhar, which offers engineering design, 3D printing, and reverse engineering services to support local industries, reduce reliance on imports, and enable SMEs and factories to develop and prototype their industrial innovations. Additionally, the Academy contributes in supervising the Rising Omani Startup Programme, through which more than 40 startups have been supported, benefiting from 295 training hours and connecting them with local and international funding and investment opportunities. Al Hadabi also highlighted that as part of its continuous efforts to enhance
an ideal work environment rooted in values, excellence, and innovation, Madayn recently launched its Organisational Culture Framework, one of the strategic pillars for achieving its organisational objectives and strengthening its identity. The framework aims to establish an integrated work environment built on core values and institutional behaviours that promote engagement, empowerment, and transparent communication, while also nurturing a culture of innovation and sustainability in the workplace. Over the next five years, the framework seeks to achieve a range of strategic goals, including reducing routine procedures, encouraging creative and innovative thinking to enhance performance efficiency, and building a flexible work environment that supports adaptability and institutional growth. It also aims to build a culture founded on trust, shared responsibility, and effective communication, while promoting work-life balance to improve job satisfaction and employee wellbeing. Furthermore, the framework focuses on leveraging advanced technologies to accelerate processes and enhance overall work outcomes.
ENERGY
TANGIBLE VALUE
Energy Development Oman partners with Sumitomo to establish Oman’s first integrated Energy Supply Chain Company in Duqm
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nergy Development Oman (EDO) has partnered with Sumitomo Corporation to establish Oman’s first Integrated Energy Supply Chain Management Company in Duqm. The new joint venture marks a strategic step in strengthening Oman’s energy ecosystem, enabling national-level demand aggregation for the first time, accelerating local content development, creating opportunities for SMEs and Omani professionals, and positioning Duqm as the country’s logistics and manufacturing hub for the energy sector. The signing took place during the Duqm Economic Forum, organized by the Public Authority for Special Economic Zones and Free Zones (OPAZ), in the presence of HE Eng. Salim bin Nasser Al Aufi, Minister of Energy and Minerals. By anchoring this venture in Duqm, a gateway between Asia, Africa, and the Middle East, the partnership will transform supply-chain management from a support service into a national growth engine, linking investment, industry, and innovation under one integrated platform. The newly formed company will provide end-to-end supply-chain management solutions for Oman’s energy sector, starting with the hydrocarbon value chain and expanding into renewables, logistics, and related energy services. The initial phase of the partnership will focus on Oil Country Tubular Goods (OCTG), with additional energy-related products and services to be added as the venture expands. By consolidating demand and introducing digitalized inventory management and smart logistics, the initiative will reduce the overall cost of production nationally, enhance operational predictability, and improve inventory control across the energy value chain. Eng. Mazin Rashid Al Lamki, CEO, Energy Development Oman, commented, “This partnership 32 32
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between EDO and Sumitomo marks an important milestone in Oman’s journey to strengthen and localize its energy supply chain. It is about creating a more efficient, resilient, and selfsustaining energy ecosystem, one that supports national industry, builds local capability, and enhances long-term competitiveness.” He went on to add, “For the first time, Oman will be able to aggregate supplychain demand at a national level, helping reduce overall production costs while creating opportunities for Omani SMEs and professionals. Duqm provides the ideal base for this transformation, and we look forward to working with our partners to turn this vision into tangible results for the country.” Masahiro Yoshimura, General Manager, Head of Energy Tubular Strategic Business Unit at Sumitomo Corporation added: “Sumitomo Corporation is proud to partner with Energy Development Oman in contributing to the development of a sustainable energy supply infrastructure in the Sultanate of Oman. For over two decades, we have supplied OCTG products to Oman’s oil and gas industry, and this joint venture builds upon the longstanding trust and collaboration we have cultivated. This initiative marks a
significant step toward realizing Oman Vision 2040, particularly in the areas of energy diversification, innovation, in-country value (ICV), and local talent development. Sumitomo remains committed to being a trusted partner in Oman’s journey toward a sustainable future, and we look forward to deepening our cooperation with a longterm perspective.” This collaboration reinforces EDO’s mandate to strengthen Oman’s energy value chain through greater efficiency, integration, and sustainability. By combining Sumitomo’s global expertise with EDO’s national stewardship, the venture establishes a transformational platform that directly supports the objectives of Oman Vision 2040, attracting foreign direct investment, strengthening economic resilience, and positioning Oman as a regional benchmark for integrated energy operations. Beyond its operational scope, the partnership will enhance local employment, build professional capabilities in logistics and procurement, and set a new benchmark for how public-private collaboration can deliver tangible national value. It reflects Oman’s forward-looking approach to building a more efficient, competitive, and resilient energy sector that supports long-term economic diversification and sustainability.
STRATEGIC ALIGNMENT IGC approves transfer of BP Block 61 Ghazeer Gas Export Pipeline to OQGN
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transaction aligns with the approved regulatory framework and that the asset valuation of RO39.991mn reflects the parameters set under the regulated system.
As Oman’s designated gas aggregator and Shipper for the national gas pipeline infrastructure, IGC is mandated to review and endorse asset transfers involving the country’s gas network. Acting in coordination with the Ministry of Energy and Minerals (MEM) and the Ministry of Finance (MOF), IGC confirmed that the
IGC affirmed that the approval is consistent with its core mandate to ensure transparent governance, fair valuation, and the longterm sustainability of Oman’s gas infrastructure. The decision further underscores the company’s commitment to maintaining coherence across the national gas transmission network and supporting the Sultanate’s broader energy strategy in full compliance with regulatory
he Integrated Gas Company (IGC) has approved the transfer of the BP Block 61 Ghazeer Gas Export Pipeline (Phase 2) to OQ Gas Networks (OQGN), following a comprehensive technical and commercial review of the proposal submitted by OQGN.
requirements. The transfer of the 65-kilometre strategic pipeline is expected to strengthen the national gas grid, enhance operational efficiency, and improve reliability and connectivity across Oman’s energy system. An IGC spokesperson stated that the approval reinforces IGC’s continuing role in ensuring sound valuation, regulatory compliance, and operational coordination as part of its responsibility as the sole gas aggregator for the Sultanate and the Shipper of Oman’s natural gas pipeline infrastructure.
PAINTS & COATINGS
AESTHETIC INNOVATION
A new chapter in premium décor begins in Barka as Asian Paints Berger launches an immersive, technology-driven Decor Lounge
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ignalling a new benchmark in the Sultanate of Oman’s interior décor landscape, Asian Paints Berger has unveiled its elegantly crafted Decor Lounge at the Al Badri International LLC store in Barka. Conceived as a premium, experiential environment, the lounge elevates the very notion of paint retail, inviting customers into a world where refined aesthetics, advanced visualisation technology, and meticulously curated textures converge. With this launch, Asian Paints Berger brings to Barka a level of sophistication and design-led inspiration previously reserved for flagship international 34 34
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markets, offering homeowners and designers a truly elevated journey into colour and décor. The grand opening ceremony was officiated by Rashid Abdullah Al Badri, marking yet another milestone in the long-standing partnership between Asian Paints Berger and one of Oman’s most respected retail groups. The launch signals the brand’s continued commitment to bringing global-quality décor experiences to communities across the nation, in alignment with Oman’s broader aspirations of enriching lifestyle offerings and expanding customer choice.
With the unveiling of the Decor Lounge, Asian Paints Berger has once again demonstrated its leadership in customer-centric innovation. The new space offers a seamless blend of inspiration, interaction, and intelligent technology, ensuring that every visitor – from homeowners and designers to contractors and project consultants – can engage with décor solutions in a meaningful and personalised way. Speaking at the ceremony, Joseph Eapen, CEO of Asian Paints International, emphasised the strategic significance of the new lounge, noting that the concept was born out of a deep understanding of evolving consumer
tools. Customers can see how colours or textures will look in their own homes by simply sharing photos and experimenting with various options. What makes Oman unique is the consumer’s high level of involvement; people here are willing to visit the store, compare, understand the performance factors, and upgrade their choices. Our goal is to empower that journey fully and this Lounge is designed precisely for that.” The new Decor Lounge is not merely an extension of Asian Paints Berger’s product displays; it is a curated ecosystem where creativity meets convenience. Visitors can browse through an extensive gallery of shade cards, product panels, textured finishes, smart-care solutions, wood coatings, waterproofing systems, and more. Each section has been thoughtfully arranged to help customers visualise complete décor themes rather than isolated colours, inspiring ideas for both modern and traditional home styles. A major highlight of the lounge is the tech-enabled colour visualisation studio. Using advanced digital tools, customers can upload pictures of their homes or select from templates of rooms and instantly apply colour combinations, textures, and finishes. This creates a realistic, immersive preview before committing to a purchase, ensuring confidence, clarity, and satisfaction.
behaviour and expectations in the region. “Consumers today don’t just want to buy paint. They want to experience it. They want to touch, feel and explore every possibility before making a decision. With thousands of shades and
dozens of product types, it is impossible to display everything physically, so we have created a space that bridges that gap intelligently,” said Eapen. “The Decor Lounge brings together physical panels, in-store sampling, and advanced digital visualisation
This digital element aligns closely with global décor trends where augmented reality (AR), virtual sampling, and data-driven recommendations are redefining the home improvement sector. By introducing these technologies in accessible formats, Asian Paints Berger is offering Omani consumers the same sophisticated experiences enjoyed in more mature décor markets. Adding to the occasion, Gopalakrishnan G, Director and General Manager of Asian Paints Berger in Oman, highlighted how the new space embodies the brand’s mission to provide a holistic, premium customer
PAINTS & COATINGS
journey. “The discerning customer in Oman is looking for a complete, end-toend experience – from the moment they walk into the store to the final moment of purchase. This Decor Lounge has been designed exactly with that philosophy in mind,” said Gopalakrishnan. “Here, customers can explore real product samples, visualise their décor choices through VR- and digitalenhanced tools, compare options, understand performance benefits, and finally arrive at a confident decision. It is a fusion of creativity, technology, and expert guidance. We want every visitor to feel fully equipped, inspired, and supported in transforming their homes.” The launch comes at a time when Oman’s home improvement, décor, and construction sectors are experiencing robust growth, driven by increasing urban development, rising home ownership, and stronger consumer interest in premium interior solutions. Asian Paints Berger’s expansion across the Sultanate of Oman, including the introduction of specialised stores, lounges, and experiential hubs, reflects its vision of not only participating in this growth but shaping it. The Decor Lounge at Al Badri International LLC, in particular, serves a rapidly expanding residential and commercial hub in Barka, bringing world-class décor services closer to local communities. For Al Badri International LLC, the partnership further strengthens their position as a trusted home solutions provider in the region. The inauguration event brought together senior executives from Asian Paints Berger, representatives of Al Badri International LLC, trade partners, contractors, designers, and members of the local community. Guests experienced demonstrations of the new digital tools, explored the curated décor zones, and engaged directly with product experts who showcased the brand’s latest 36 36
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innovations in coatings and surface solutions. In addition to promoting customer engagement and ease of decisionmaking, the Decor Lounge is set to become a centre for design consultation, product education, and community workshops. Asian Paints Berger plans to hold periodic sessions for homeowners, contractors, and interior designers, focusing on colour theory, exterior protection, waterproofing solutions, wooden finishes, sustainability practices, and application techniques. These initiatives align with the brand’s longstanding commitment to raising industry standards and empowering customers with knowledge and tools. Over the years, the brand has
introduced multiple innovations tailored to the region’s climate, lifestyle, and customer expectations, including advanced weatherproof exterior coatings, anti-microbial interior paints, low-VOC eco-friendly solutions, and high-performance waterproofing systems. The grand opening of the Decor Lounge in Barka is more than the launch of a new retail concept, it is a celebration of the evolving design aspirations of the Omani customer. By bringing global expertise and thoughtful innovation closer to the community, Asian Paints Berger is helping homeowners and designers reimagine what is possible within their spaces. It is a commitment to inspiration, to craftsmanship, and to supporting every individual in creating a home that feels truly their own.
CULTURE
CREATIVE ODYSSEY
‘Rhythm of Life: Richness and Diversity in Omani Arts’ exhibition opens at Royal Opera House of Musical Arts
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he Royal Opera House Muscat has announced the opening of ‘Rhythm of Life: Richness and Diversity in Omani Arts’ exhibition at the Exhibition Hall of the Royal Opera House of Musical Arts. The launch event took place under the auspices of distinguished dignitaries and cultural leaders, who gathered to celebrate this landmark exhibition. The opening welcomed an enthusiastic audience, filling the exhibition hall with a warm spirit of national pride as Oman enters its National Day holidays. Guests explored the rich soundscapes, rare artefacts and immersive acoustic experiences that reveal the depth and diversity of Oman’s musical traditions. The exhibition highlights the craftsmanship and cultural virtue that continue to shape the nation’s evolving artistic identity. Umberto Fanni, Director General, Royal Opera House Muscat, shared this message following the launch, “It is a
joy to see Rhythm of Life come alive with such passion and appreciation. This exhibition honours the spirit of Oman and the creativity of its people. We are proud to open our doors to families, students and visitors from around the world, and we look forward to welcoming even larger crowds as the exhibition continues.” The exhibition is already drawing strong public interest, with large numbers expected throughout the National Day holidays and the winter season. Visitors are invited to discover an experience that celebrates both heritage and innovation, offering a source of pride for all Omanis and a warm welcome to international guests. Rhythm of Life runs from November 19, 2025 to February 7, 2026, open daily (except Fridays) from 10 am to 9 pm. The Royal Opera House Muscat invites all visitors to experience the excellence of this exhibition and to celebrate the warmth, diversity and cultural pride that define the rhythm of life in Oman.
A series of public talks will accompany the exhibition, giving audiences the opportunity to engage directly with scholars and musicians who have contributed to the preservation and evolution of Omani musical culture. The schedule is as follows: 10 Dec 2025, 6:30 PM – Musallam al Kathiri: Vocal Styles in Muscat and Dhofar 17 Dec 2025, 6:30 PM – Ali bin Suhail al Mashani: Vocal Traditions of Dhofar 14 Jan 2026, 6:30 PM – Fathi al Balushi: The Omani Oud Players Association 21 Jan 2026, 6:30 PM – Amir Awad: Oman Centre for Traditional Music 4 Feb 2026, 6:30 PM – Maestro Hamdan al Shuayli: The Royal Oman Symphony Orchestra
INDIA-GCC COLUMN
A GLOBAL MODEL FOR CO-OPERATION
India and the Middle East: Exploiting the Immense Economic Synergies
This is just a glimpse of the economic synergies that exist between India and the economies in the Middle East. Also contributing to the economic partnerships is the ambitious India-Middle East-Europe Economic Corridor, a comprehensive transportation network comprising rail, road and sea routes connecting India, the Middle East, and Europe.
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y April 2025, over 40 Indian corporate giants, including L&T, Tata Motors, Wipro, TCS, have established their regional offices in Saudi Arabia. The substantial presence of Indian-origin companies in Saudi Arabia is a precursor to their commitment to the Bilateral Investment Treaty (BIT), which, in November 2025, was announced to close soon. The treaty stands to protect and encourage investments in each other’s countries and deepen mutual economic cooperation. Although foreign direct investment (FDI) from Saudi Arabia to India reached around $3.3 billion as of March 2025, experts believe this represents only a small portion of the untapped economic potential between the two countries.
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The corridor, being considered a new chapter of Global Connectivity, aims to integrate existing and future transportation, energy, and digital infrastructure. It is not only expected to enhance transportation efficiency, but will also increase economic unity, generate employment, and lower Greenhouse Gas (GHG) emissions, especially across India and the Middle East. Economic diversification is central to India as well as West Asia’s growth agenda, allowing access to diverse markets. An important example of the same is the IndiaUAE Comprehensive Economic Partnership Agreement (CEPA), which amplified trade, investment, and innovation across the two economies in 2022. Courtesy CEPA, the India-UAE bilateral trade has increased from $50 billion in 2021 to $85 billion in 2024. Apart from boosting growth, these partnerships lead to economic security for the countries. The recent wave of tariff barriers triggered by US President, Donald Trump strengthened India’s economic ties
with the Gulf countries. In this spirit, India has further intensified the gems and jewellery trade with the region. Under CEPA, the tariff reductions bolstered Indian exports in gems and jewellery, and with India’s 100 percent FDI policy for the sector, the Indian jewellery exports to the UAE have experienced a 60 percent rise in gold jewellery and 17 percent in diamond jewellery since 2022. Moreover, to further utilise the potential, the focus has been laid on promoting joint ventures for processing critical minerals to support clean energy technologies. This has led to the initiative of announcing the Geological Survey of India Training Institute (GSITI) as a centre of excellence under the Future Minerals Forum (FMF), set to provide specialised training programs for geologists from Saudi Arabia, Africa, and Central Asia, strengthening global mining capabilities and capacity building in the sector. The digital financial infrastructure is another sphere where the two economies are mingling. The marriage of India’s UPI (Unified Payments Interface) with AANI (Arab Monetary Fund’s Buna platform) is enabling INR-AED transactions, facilitating financial inclusion, trade, remittances, and digital innovation between India and the UAE. The strengthening economic ties between India and Oman deserve special attention in this case. India and Oman are not just strategic partners, but also historical,
cultural, and diplomatic partners, with trade exceeding $10 billion in 2024-25. Apart from being India’s oldest strategic partner in the region, Oman is a crucial part of India’s West Asia policy. Moreover, there are over 6,000 India-Oman joint ventures in Oman with an estimated investment of over US$776 million. For the economic cooperation, the two economies have institutionalised the OmanIndia Joint Investment Fund (OIJIF), which manages Private Equity Funds focused on growth capital investments in India. Over the last 25 years, the cumulative FDI equity inflow from Oman to India has been US$605.57 million. Given the emergence of Oman as a manufacturing hub, Indian company ACME is building a large green ammonia complex at Duqm with long-term offtake agreements, a crucial energy transition venture. Another important chapter in the OmanIndia economic ties is ‘soon to be signed’ Comprehensive Economic Partnership Agreement (CEPA). The agreement is expected to enable diversification of their trade basket to include more commodities and exchange of services, and significantly reduce or eliminate customs duties on a maximum number of goods traded between them. India and the Middle East relations are built on historical ties, economic exchange, and strategic partnership. The multilateral engagements through the India-Middle East-Europe Economic Corridor (IMEC),
trade diversification, and pursuing barrier-free trade through CEPA are testimony to the fact that India-Middle East relations are beyond transactionalism. India has been an important supplier of manpower for the infrastructural development of West Asia, reaping in return, remittances. The process of deepening India–Middle East relations is as much a story of India looking westward as it is about the Middle East turning its gaze eastward. As the Middle East steers away from its dependence on hydrocarbons, the scope of entrenching ties only proliferates. The scope of developing tourism for Indians in the Middle East is just one aspect of the untapped potential. The Gulf nations are investing in India’s agriculture sector to ensure their food security. The economic synergies are immense, with the possibility to tap the unexploited economic potential between India and West Asia, as India emerges as a global economic power. The deepening of the economic partnership is not only generating alternative centres of economic and diplomatic power globally, but also its unprecedented bilateral and multilateral engagements provide a global model for regional economic cooperation and economic development.
Signature Luxury 100 Celebrating the Art of Fine Living 23rd December | Crowne Plaza Muscat Garden (Qurum) | 7.00pm
Chief Guest
His Highness Sayyid Mohammed bin Thuwaini Al Said Signature – Oman’s premier luxury lifestyle platform – proudly presents ‘The Luxury 100,’ a distinguished initiative that showcases a definitive list of iconic luxury products of the year. It is a ‘List of Lists’ that truly captures the essence of refined living and timeless sophistication. Curated after months of research and evaluation, The Luxury 100 is the result of collaboration between, leading luxury specialists, lifestyle journalists, discerning readers, industry experts and the editors of UMS. Every product featured on this exclusive list has earned its place by demonstrating its authenticity, desirability, and enduring appeal among connoisseurs of luxury. for more details contact: Asmaa El Behery: asmaa@umsoman.com, +96892350860
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EVENT
PIONEERING EXCELLENCE OER Corporate Excellence Awards 2025 honours entities and innovations in Oman
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he third edition of OER Corporate Excellence Awards, a flagship event by the Sultanate’s premium business magazine, was held at Sheraton Oman on November 10, 2025. Hosted by His Excellency Shaikh Salim bin Mustahail Al Mashani, the gala event turned the spotlight on the paragons of corporate achievement, both listed and non-listed companies, who showcased remarkable performance and innovations. His Excellency Qais Al Yousef, Minister of Commerce, Industry & Investment Promotion was the chief guest at the event. The event, which was a convergence of industry stalwarts and decisionmakers, included an enlightening keynote session unveiling industry insights and futuristic trends, besides award presentations to commemorate corporate magnificence. Khalid Ansari, Managing Partner, KMA & Partners made a keynote
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presentation on ‘Corporate Excellence.’ Excellence signifies outstanding quality and extreme proficiency, often marked by distinction. It sets individuals apart through consistent good behavior, manners, and a positive attitude, he said. In the corporate realm, excellence reflects superior management practices and results, rooted in core values. It emphasises continuous improvement and learning from mistakes, while perfection seeks flawless performance with zero errors. Ultimately, workplace excellence distinguishes individuals and organisations, typically measured by financial indicators. In addition, Gopalakrishnan G, General Manager, Asian Paints ME made a presentation on Asian Paints Middle East and its initiatives in Oman and the GCC region. The event also featured a panel discussion on “Innovative Approaches for Sustainable Business Growth and Diversification.” The panelists included Saud Ahmed Al Siyabi, COO, DIDIC, Tawfiq bin Abdul Hussain al
Lawati, Chairman, Industry Committee (OCCI), Said Al Rashdi, CEO, BIMA Insurance, Zahra Abdulamir, Chief Risk Officer of Oman Arab Bank, and Gopalakrishnan G, General Manager, Asian Paints ME SPC. Oommen John, Editor, Oman Economic Review (OER) moderated the session. The session highlighted key strategies for fostering resilience and adaptability in today’s dynamic market. The panelists emphasised the importance of integrating sustainable practices into core business models, which not only enhances brand reputation but also attracts socially conscious consumers. Further, they deliberated on leveraging technology and digital transformation to optimise operations and create new revenue streams. Collaboration and partnerships, particularly across industries, were identified as crucial for innovation and expanding market reach. The session reinforced the need for a holistic approach that balances economic growth with environmental and social responsibility.
Organised by UMS Events, over 200 high profile attendees encompassing business stalwarts and C-suite executives attended the event. The event was endorsed by Ministry of Commerce, Industry and Investment Promotion and the Oman Chamber of Commerce and Industry (OCCI). Atulya Sharma, CEO, United Media Services in his welcome address, said the organisations that are being honoured at the event, have not merely survived disruption— they have used it as a springboard for innovation. They have diversified, digitised, and reimagined their business models to remain competitive and relevant in a changing world. Oman Arab Bank and Asian Paints ME were the Strategic partners. Phoenix Power Company, Voltamp Energy, Dhofar Foods and Investment, United GCC Fund by United Securities, Infoline, Dhofar Insurance Company, Muscat Eye Laser Center, Oman Qatar Insurance
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Company and Al Baraka Oilfield Services were the Associate partners. Xerox from Bishara Establishment was the Office Automation Partner. Changan Oman by Arabian Gulf Automobiles and Equipment LLC (AGAE) was the Official Automotive partner. Moore Oman was the Knowledge partner. The Daily Tribune was the Bahrain Media Partner. ZiBi was the Zanzibar Media Partner. Alam Al Iktisaad was the Media Partner. OERLive was the Online Media Partner. OER, in partnership with MOORE conducted a comprehensive survey of companies listed on the Muscat Stock Exchange, evaluating them against selected criteria including Company performance, Financial health, Profitability and Shareholder return. 44 44
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LIST OF WINNERS SMALL CAP
SPECIAL AWARDS
Sahara Hospitality
Leadership in Advanced Laser Surgery Techniques Muscat Eye Laser Center
Gulf Mushroom Products Company Dhofar Insurance Company
Digital Printing Press Solutions, Xerox from Bishara Establishment LLC
Dhofar Foods & Investment The National Detergent Company MID CAP
Automotive Innovation and Advanced Safety CS75PLUS 4WD from Changan
A’Saffa Foods Voltamp Energy
Innovator in Colour and Décor Trends Asian Paints Middle East
SMN Power Holding Company Taageer Finance Company
Best Venue for Live Events Oman Convention & Exhibition Centre
Oman Qatar Insurance Company LARGE CAP
Excellence in Premium CX Solutions Infoline
Oman Cables Industry Sohar International Sembcorp Salalah Power & Water Company Bank Muscat
Excellence in Sustainable Growth in the Oil & Gas Industry Al Baraka Oilfield Services
Dhofar International Development & Investment Company (DIDIC) ahlibank
Outstanding Fund Performance in GCC Markets United GCC Fund by United Securities LLC
National Finance Company Phoenix Power Company Oman Arab Bank
Companies were categorised into large cap, mid cap, and small cap segments to recognise top performers in each category. Paul Callaghan, Partner, Moore Stephens made a presentation on the Awards Methodology.
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Visionary Leadership in Business Promotion Eng. Said Ali Al Abri, Chairman, OCCI, North Al Batinah
Further, OER’s editorial board meticulously selected the companies— whether listed, privately held, or government-owned—alongside industry leaders and innovative corporate initiatives that have made significant contributions to
the economic and social progress of the Sultanate, aligning with the objectives of Vision 2040. The entities and individuals identified for their exceptional accomplishments were honoured with awards at the event.
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AUTOMOTIVE
PERFORMANCE DRIVEN
IHE and Eicher Trucks and Buses introduce Eicher Pro League of trucks and buses in Oman
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nternational Heavy Equipment LLC (IHE), in collaboration with Eicher Trucks and Buses jointly announced the introduction of Eicher’s world-class Pro League range of trucks and buses in Oman. This launch highlighted the strong, long-term partnership between Eicher and IHE, with both companies working closely together on planning, investment, and execution to bring the latest commercial mobility solutions to the Sultanate.
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Backed by advanced technology, the Eicher Pro League range delivers superior performance, industryleading uptime, and next-generation features tailored for customers in Oman. The launch reflects the combined commitment of Eicher Trucks and Buses and IHE to support the country’s logistics, construction, distribution, and passenger transport sectors with reliable, efficient, and future-ready vehicles. Speaking on the occasion, IHE
General Manager, Sohraab Hasnain, said, “The launch of the Eicher Pro League range is a significant step forward in elevating Oman’s commercial transport landscape. At IHE, we continuously seek to introduce technologies that empower businesses, improve efficiency, and optimise performance. Through our strategic partnership with Eicher Trucks and Buses, we are confident that these new products will set higher benchmarks in reliability, safety, and productivity for our customers. We look forward to
supporting the country’s development by delivering solutions that meet the evolving needs of Oman’s growing industries.” Aman Arora, SVP, International Business, VE Commercial Vehicles, added, “Launching the Eicher Pro series of trucks and buses in Oman marks a significant step in strengthening our partnership with IHE and supporting Oman’s vision for a more efficient and modern transport ecosystem. Our next-
generation Trucks and Buses are equipped with smart features such as fuel coaching, M Booster+, and cruise control to enhance fuel efficiency, as well as steering-mounted controls, an intelligent driver information system (IDIS), and a touch-screen infotainment system that improves driver performance. “These vehicles are built for comfort, safety, and reliability, offering superior uptime, extended service intervals, and optimised operating costs. With
better fuel efficiency and enhanced driver productivity, Eicher aims to help fleet operators in Oman achieve stronger profitability while supporting the country’s progress.” Today, Eicher Trucks and Buses serve customers in over 40 countries, offering a wide range of commercial vehicles engineered for varied applications. The Eicher Pro 2000 and Pro 6000 series trucks, two of its flagship ranges, deliver exceptional fuel efficiency and robust
performance through advanced engineering. The Pro 2000 series — available in multiple variants including Pro 2055XP, Pro 2065XP, Pro 2075XP, Pro 2080XP, Pro 2095XP, and Pro 2080XPT — is designed for optimal operational efficiency and enhanced driver safety. The Pro 6000 series, ranging from 18.4 to 25 tons and including the Pro 6018 and Pro 6025 models, is powered by the VEDX5 engine based on Volvo Group’s global platform, offering
superior reliability and productivity. Eicher also introduced its bus range — the Skyline 20.15 and Skyline Pro 3008 in Oman. These buses combine advanced safety features, comfort, and modern design, making them ideal for crew transport, staff mobility, and tourism applications. For more information on Eicher’s world-class Pro League range of trucks and buses, visit your nearest IHE showroom or call 24500666. As part of The Zubair Corporation, one
of Oman’s biggest and most diversified business houses, IHE brings more than four decades of market presence, a diverse portfolio of leading heavy and light equipment brands, and a strong nationwide service network. Over the years, IHE has earned a trusted reputation across logistics, construction, oil & gas, and infrastructure sectors, playing a key role in advancing commercial mobility and supporting major developmental projects in the country.
AUTOMOTIVE
DESIGN AND COMFORT
Skoda launches the all-new Superb in Oman, redefining elegance and innovation
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koda Oman has announced the launch of the all-new Škoda Superb in Oman, marking the next chapter for the brand’s flagship. Combining timeless design with advanced technology and exceptional comfort, the Superb embodies Škoda’s commitment to delivering premium automotive solutions and outstanding value. “Our customers are our priority, and we listened intently to their wishes while developing the next generation of our flagship model,” said Klaus Zellmer, Chairman of the Board of Škoda Auto. “The result is a product
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that delivers more value in terms of features, user experience, and comfort. It is easier to use thanks to our new Škoda Smart Dials, and new assistance systems round off this evolution to perfection.”
positioned to meet those expectations. We are proud to introduce our flagship to the region as we continue to expand Škoda’s presence and product offering across the region.”
Lukas Honzak, Managing Director of Škoda Middle East, added: “The Škoda Superb represents the very best of our brand - timeless design, modern technology, and exceptional value. In the Middle East, there is strong demand for vehicles that deliver both everyday practicality and premium comfort, and the Superb is ideally
The all-new Superb sedan variant also made its official debut in Oman, where Premium Motors, the exclusive representative of Škoda Oman, hosted an elegant launch event at its Muscat showroom. The occasion brought together corporate clients, fleet partners, media representatives and customers, marking a key milestone
Superb in Oman
for Škoda in the Sultanate. Christian Nehme, General Manager of Premium Motors, said: “We are proud to bring the all-new Škoda Superb to Oman. This model represents a new benchmark in comfort, innovation and design for our market. The strong interest and positive feedback from our guests reaffirm that the Superb is ideally suited to the expectations of customers in Oman, combining European craftsmanship with everyday practicality.” With its dynamic proportions, sleek lines, and spacious interior, the Superb offers a sophisticated yet practical driving experience. The exterior has been refined with a broader grille, slimmer LED Matrix beam headlights, and sculpted details that accentuate its stance. Aerodynamic improvements also contribute to efficiency and driving dynamics, while premium paint finishes and alloy designs complete its modern profile. Inside, the Superb elevates the driving experience with Škoda’s latest Virtual Cockpit, headsup display, and state-of-the-art driver assistance systems. The ergonomically designed cockpit features a new infotainment system with intuitive
controls, wireless smartphone integration, and enhanced connectivity options. Prioritizing passenger comfort, the cabin has also been designed with high-quality materials, generous space, and a focus on convenience; making it ideal for both daily commutes and longdistance journeys. Performance in Oman will be driven exclusively by the 2.0 TSI petrol engine, delivering 140 kW (190 hp) of power. This versatile engine balances dynamic acceleration with fuel efficiency. Advanced driver-assistance systems and safety features, including adaptive cruise control, lane-keeping assist, and multiple parking aids further elevate the driving experience. With safety remaining at the heart of Škoda’s flagship model, such controls and robust build quality ensure peace of mind for drivers and families alike. The new Superb will be available in four distinct trims, offering customers a choice between dynamic performance styling and ultimate luxury. Essence is the entry level trim, delivering great value with modern comfort, convenience, and safety features; Selection blends
everyday practicality with premium equipment, offering an ideal balance of comfort and design for families and professionals; Sportline emphasizes a sportier character with exclusive sports suspension, distinctive design elements, dynamic details, and a driver-focused interior; Laurin & Klement (L&K), named after Škoda’s founders, is a unique trim which represents the highest expression of comfort and elegance, with premium materials, advanced technology, and exclusive finishes. Superb Sedan will be available in the region from October 2025 in the Selection and Laurin & Klement (L&K) trims, with the Sportline and Essence trims being added to the offering from early 2026. The all-new Superb continues Škoda’s 130-year tradition of combining European heritage with forwardlooking engineering and innovation, with a growing retail network and a model line-up that now includes the Kodiaq, Kushaq, Octavia RS, and the flagship Superb. Building on its legacy as one of the brand’s most iconic models, the Superb is set to become a key player in the regional market.
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CELEBRATING INDUSTRIAL EXCELLENCE
OER Manufacturing Summit & Awards 2025 did a deep dive on the manufacturing sector and its contribution to Oman Vision 2040
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MS organised the OER Manufacturing Summit & Awards 2025 on December 9, 2025. His Excellency Badr bin Salem al Maamari, Chairman of The Authority for Projects, Tenders and Local Content, Oman was the Chief Guest. The event was held under the auspices of Sheikh Hamoud bin Mustahail Al Mashani, Group CEO, Muscat Overseas Group. Speaking about the importance of the manufacturing sector Atulya Sharma, CEO, UMS stated, “Over the past few years, manufacturing has grown steadily in its contribution to Oman’s national economy. Its role in boosting
exports, attracting foreign investment, and offering long-term career opportunities for Omanis is becoming increasingly significant. Today, more than ever, our factories are not just production sites, they are centres of knowledge, technology, and ambition.” OER Manufacturing Summit 2025 was endorsed by the Oman Chamber of Commerce & Industry, Madayn and Oman Manufacturers Association. Jindal Steel Oman was the Premium Strategic Partner. Shell Oman Marketing Company; Minara from Areej Vegetable Oils and Derivatives; Future Pipe Industries; Mohammed Riaz & Partners; Al Tamman Ferro
Alloys – ATFA; Muscat Thread Mills were the Strategic partners. The Associate Partners included Majees Technical Services; Voltamp Energy; Khazaen Economic City; Al Jazeera Steel Products Company; The National Detergents Company; Credit Oman and Be’ah. Changan was the Automotive Partner. SSA Consulting Group was the Knowledge partner. The Daily Tribune was Bahrain Media partner; Zibi magazine was the Zanzibar Media partner. OERLive.com was the online media partner and the Arabic media partner was Alam Al Iktisaad magazine.
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The keynote address of the event was delivered by Tawfiq Hussain al Lawati, Head of Industry Committee, Oman Chamber of Commerce & Industry. This was followed by a keynote speech by Sami Al Sahib, Vice President Corporate Strategy & Head of Group Corporate Affairs, Jindal Steel Oman. Ishrath Habibulla, Managing Director, Majees Technical Services took the stage to give a presentation on Oman’s first indigenously designed and manufactured thermal oxidizer. The Summit witnessed an insightful panel discussion on the Topic – ‘Industry to Innovation: Strengthening Oman’s Manufacturing Sector for a Competitive & Diversified Economy.’ The discussion saw the participation of a cross section of senior corporate leaders including - Haitham Abdullah Al Yaqoubi, Acting CEO, Credit Oman; Mohamed El Fatatry, General Manager, Shell Oman Marketing Company; Murali Sundar, CEO, The National Detergent Company; Sami Al Sahib, Vice President - Corporate Strategy & Head of Group Corporate Affairs, Jindal Steel Oman; Yousuf Ibrahim Al Balushi, General Manager, Voltamp Energy and Mohammed Ahmed Al Siyabi, Commercial Affairs Manager, Khazaen Economic City. The panel was moderated by Mayank Singh, Executive Vice President and Group Editor, UMS.
OER Manufacturing Excellence Awards were presented by the Chief Guest, His Excellency Badr bin Salem al Maamari to companies which have excelled in their respective industries. Sheikh Hamoud bin Mustahail Al Mashani, Group CEO, Muscat Overseas Group presented a token of appreciation to His Excellency Badr bin Salem al Maamari for gracing the event.
leaks for manufacturers.’ The Lab was conducted by Naveen Narayanan, Group MD, SSA Consulting Group. It introduced a hands-on Profit Leadership Diagnostic method which helps manufacturing companies uncover profit leaks using financial statement analysis, operational insights, AI prompts and structured decision-making frameworks.
The second session began with a presentation by Abdullah Al Amri, Senior Business Development, Specialist, Khazaen Economic City. This was followed by a ‘Profit Leadership Diagnostic Lab’ on the topic – ‘A unique approach to identify profit
Overall, the third edition of OER Manufacturing Summit & Awards set new benchmarks in knowledge sharing and recognising companies, which are making a seminal contribution to the manufacturing sector and Oman Vision 2040.
List of Awards Most Promising Entrepreneur in the Manufacturing Sector Fahad Mohammed Riaz, Vice Chairman, Mohammed Riaz & Partner LLC. Leadership in Employee Development & Organisational Culture Jindal Steel, Oman Best Investment Destination in Oman Khazaen Economic City Innovation: First designed and manufactured Thermal Oxidizer in Oman Majees Technical Services LLC - FLAROMAN Excellence in Product Innovation – Composites for the Water & Energy Sector Future Pipe Industries Quality Management & Process Excellence Al Jazeera Steel Products Company Sustainability Champion in Manufacturing EcoTerra recycled line – Muscat Thread Mills 40 Years of Excellence in Lubricants Blending & Advancing In-Country Value in Oman Shell Oman Marketing Company Pioneering Home & Personal Care Manufacturing in Oman The National Detergent Company Outstanding Development in International Markets Voltamp Energy Main and Leading Enabler in Enhancing Omani Exports and Products in Global Markets award Credit Oman 4WD of the Year Award Changan CS75PLUS 4WD Sustainable Energy Integration in Industry Award Al Tamman Ferro Alloys Global Omani Company of the Year Areej Vegetable Oils & Derivatives Company Company of the Year Jindal Steel Oman
INFRASTRUCTURE
VIBRANT VISTAS
Muscat Municipality awards the construction contract for “Muttrah Square” project
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uscat Municipality has awarded the construction contract for the “Muttrah Square” project, winner of first place in the inaugural edition of Bilarab Bin Haitham Award for Architectural Design. The project will introduce a vibrant urban character to the Wilayat of Muttrah and provide visitors with enhanced opportunities to enjoy panoramic views of the corniche and Muttrah Fort. HE Ahmed bin Mohammed AlHumaidi, Chairman of Muscat Municipality, stated that the “Muttrah Square” project represents a key pillar of the Municipality’s vision to beautify the wilayat and enhance its tourism appeal, while preserving its cultural richness and historic identity. He emphasised that the project is
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more than just an urban development - it embodies an ambitious vision to revive the visual memory of the six wilayats of the governorate and to achieve harmony between authenticity and modernity. His Excellency further explained that the Muttrah Square is a landmark project designed to infuse the capital with high-quality urban elements that elevate the quality of life, enrich the tourism experience, and align with the aspirations of the National Urban Development Strategy 2040, which aims to build cities that are vibrant, liveable, and identitydriven. He affirmed that preserving cultural heritage does not conflict with architectural innovation but can merge with it to create spaces that reflect both the spirit of the past and
the promise of the future. Located in a strategic part of Muscat Governorate, the “Muttrah Square” project spans 7,500 square meters, enhancing the historical and touristic value of the wilayat through its unique landmarks and timeless legacy. At the heart of the square lies an iconic bridge, 5 meters wide, designed to appear as though floating over the sea. Its form draws inspiration from the sword of Imam Al-Salt bin Malik Al-Kharusi. The bridge frames Muttrah’s landmarks in a U-shaped panoramic view and is surrounded by a multifunctional plaza featuring a dancing fountain, and lighting that mirrors the rhythm of the sea. The surrounding courtyard will serve as a family-friendly open space with green areas, pedestrian pathways, and more.
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