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Saleh Al-Shaibany

Journalist

Saleh Al-Shaibany is a journalist and publisher in Oman who runs AlSafa Press & Publishing

Saleh Al-Shaibany
People sitting on bicycles look on amidst flood water following heavy rainfall, in Dubai, United Arab Emirates, April 19, 2024

Ominvest 2024 profits hit by insurance subsidiary losses

Losses at an insurance subsidiary caused by the deadly floods that struck Oman and the UAE last year hit profits at Oman International Development and Investment Company (Ominvest), a large listed holding company. Ominvest reported net profit of $96 million in 2024, down 7 percent year on year from $104 million in 2023. The company’s […]

Omantel's market share fell five percentage points  in 2024 to 48 percent of subscribers in the country, hurting profits

Profits fall as Omantel loses subscribers to rivals

Profits have fallen at Oman Telecommunications Company after it lost market share to competitors. Omantel, Oman’s largest telecommunications provider, said net profit was down 3 percent last year to $795 million.   Market share fell five percentage points in 2024 to 48 percent of a total of  7.1 million subscribers in the country, down from 53 […]

Salalah is cooler and greener than the rest of the Arabian peninsula in the summer, when it catches the seasonal monsoon rains

New $350m city planned in southern Oman to attract tourists

Oman is planning to build 12,000 villas and apartments in the southern coastal town of Salalah as part of a drive to attract tourists. The $350 million development, which will be able to house 60,000 people, will cover 7.3 sq km and also include parks, a marina and retail and hospitality space.  Construction of the […]

A traditional dhow and a cruise ship in Muscat. Crude oil exports make up 70% of Oman's revenue

Oman’s foreign trade up thanks to oil and gas

Oman’s total foreign trade in 2024 rose by 7 percent year on year to $63 billion, led by a rise of 18 percent in oil and gas exports. However, non-oil revenues fell, underlining Oman’s continued heavy reliance on fossil fuels.  Oil and gas exports jumped to $42 billion in 2024, up from $35.6 billion the […]

Cabin crew on a SalamAir Airbus 320neo. The Omani airline carried 3.2m passengers last year

SalamAir adds planes and routes in Oman tourism drive

Oman’s only low-cost airline, SalamAir, plans to double its fleet size and almost treble passenger numbers over the next three years, its CEO has told AGBI. Adrian Hamilton-Manns said SalamAir’s fleet would increase from 13 Airbus planes today to 25 aircraft in 2028. It is aiming for annual passenger numbers of 8.5 million in three […]

A container ship in the port city of Muscat, Oman

Oman seeks $330m in shipping company IPO

Asyad, Oman’s state-run shipping company, is selling shares to the public this month in an effort to raise more than $330 million to fund expansion of its container and storage facilities at the country’s ports, and grow its fleet of vessels by more than a third. Oman is also selling off state assets to reduce […]

Oman homes: Most low-income earners in Oman live in regions such as Dakhiliyah

Oman awards contracts to build homes for low-income nationals

Oman’s Ministry of Housing and Urban Planning has awarded contracts worth $170 million to build homes and related infrastructure for low-income nationals in outlying regions. Of 1.35 million working Omanis, about 12 percent earn a minimum wage, according to official statistics. In 2022, the government raised the minimum wage from $815 to $1,000 per month. […]

The top destinations for Oman's oil exports are China, India and South Korea

Opec oil cuts push Oman’s revenue down $1.7bn

Oman’s adherence to Opec+ voluntary oil production cuts resulted in revenue from the sector falling by an average of $4.6 million a day last year. The country’s average daily crude oil production fell 5.4 percent in 2024 to 992,600 barrels per day (bpd), figures from the National Center of Statistical Information show. The average price […]

Oman copper mining

UK mining company unearths copper deposits in Oman

Major copper deposits in the Al Batinah region of Oman have been uncovered by a UK mining company, Power Metal Resources.  The discovery was made in Block 8, about 130km from Muscat. Power Metal Resources acquired the exploration rights for the area from the government of Oman two years ago and started work on it […]

Bank Muscat reported earnings of OMR225.5 million in 2024, a 6 percent increase on 2023

Total profits at Oman’s banks up 15% in 2024

Banks in Oman recorded a 15.2 percent year on year rise in profits in 2024. Total profits reached OMR522.6 million ($1.36 billion) last year, up from OMR453.5 million in 2023, the Central Bank of Oman said.  The increase was attributed to the country’s robust economic growth last year through project financing, mortgages and loans to […]

Raysut Port in Salalah. State-owned shipping company Asyad plans to increase its facilities in domestic ports

Oman’s Asyad to invest $3bn in shipping projects

Asyad, Oman’s state-run shipping company, will this year invest $2.7 billion to expand its fleet by more than a third. Asyad was established in 2003 and is owned by Oman’s sovereign wealth fund. It operates a fleet of 89 vessels and the expansion plan in 2025 will add a further 33 – a mix of […]