Latest news with #Muscat
Times of Oman
4 hours ago
- Politics
- Times of Oman
China confirms coordination with Oman on Iran-Israel de-escalation
Muscat: China' Foreign Ministry said that the escalating confrontation between Iran and Israel negatively impacts regional peace and stability, noting that it continues its communication with the Sultanate of Oman and the parties involved in the conflict to de-escalate tensions as quickly as possible. Foreign Ministry spokesperson Lin Jian stated that Israel's actions violate international law and the norms governing international relations, infringe upon Iran's sovereignty and security, and undermine regional peace and stability. He further noted that the conflict has disrupted the process of indirect negotiations regarding the Iranian nuclear issue. He added that at this critical juncture, the international community especially countries in the region must continue to unify efforts in support of justice, build global momentum to oppose war, call for peace, and promote a political resolution.
Zawya
6 hours ago
- Business
- Zawya
Muscat Stock Exchange hails Oman as attractive destination for foreign investors
Muscat Stock Exchange hails Oman as attractive destination for foreign investors thanks to stable political climate, skilled workforce and well-developed logistics infrastructure. Over 300 global institutional investors met with more than 100 Middle East corporates and all seven bourses from the Gulf Cooperation Council (GCC) at HSBC's GCC Exchange Conference in London this week. The event comes as tariff uncertainty reshapes capital flows, with global investors increasingly turning to the Gulf for stable yield, reform-driven growth and maturing capital markets. Now in its fourth year, conversations at the conference focused on the increasing appeal of the GCC as the region continues to register record IPO pipelines, deepen sovereign and corporate bond markets and expand private credit platforms – all underpinned by strong fiscal buffers and multi-year economic transformation agendas. The continued liberalisation of GCC financial markets and the introduction of privatisation programmes by GCC governments are converging at a time when investors are seeking diversification from global volatility. GCC capital markets remained resilient in the first quarter of the year with IPO proceeds 33% higher compared to the first quarter of 2024, despite a slowdown in issuances globally. Haitham Salim Al Salmi, CEO, Muscat Stock Exchange, said: 'We are working with the Oman Investment Authority and the government to pave the way for sizable and profitable private companies as part of their divestment plan. We aim to enhance MSX's contribution to the national economy through our main initiatives such as launching an SME listing platform, facilitating accessibility to the market and establishing international linkages in parallel with our subsidiary Muscat Clearing & Depository.' Elie El Asmar, Chief Executive, HSBC Oman commented: 'Oman has an increasingly powerful story to tell global investors which is evidenced by a surge in foreign direct investment over the past five years, liberalisation of foreign ownership rules and huge strides taken in the journey from emerging to developed market status. Strategic reforms, robust infrastructure and a strong commitment to economic diversification continue to unlock new opportunities for international partnerships and sustainable growth.' This year, for the first time, HSBC brought together Emerging Market (EM) Macro Strategists with GCC attendees, as EM investors dial-up their exposure to the Gulf's capital markets driven by strong GDP projections relative to the broader EM pool. © Muscat Media Group Provided by SyndiGate Media Inc. (
Zawya
6 hours ago
- Politics
- Zawya
Oman continues diplomatic efforts to contain escalation of Israel-Iran conflict
Muscat: The Sultanate of Oman continues its diligent diplomatic efforts to contain the unprecedented escalation resulting from Israel's military aggression against Iran, which has ignited the current regional tension. Oman has reaffirmed its steadfast position rejecting military escalation and violations of state sovereignty, emphasizing that the only way to address the crisis lies in a serious return to the diplomatic path, aiming to reach a just agreement and save the region from an abyss with unknown consequences that could impact the entire world. In this context, His Excellency Foreign Minister Sayyid Badr Al Busaidi, held phone calls on Wednesday with his Russian and Chinese counterparts as part of a series of calls with various brotherly and friendly countries. The discussions focused on the urgent need for an immediate cessation of hostilities, stressing that Israel is the aggressor, violatin UN Carter and obstructing peace efforts, including the recent American-Iranian negotiations aimed at preventing nuclear proliferation. The ministers agreed that a military solution is ineffective and that achieving an early ceasefire would pave the way for a return to the negotiating table to address the nuclear issue in a manner that ensures stability and peace for all. During the call, the Minister and His Excellency Sergey Lavrov agreed that this unprecedented escalation violates United Nations Charter, renewing their call for an immediate halt to these attacks and their expansion, as well as refraining from targeting nuclear facilities to prevent the risks of nuclear radiation. The Russian Minister also expressed his country's deep appreciation for Oman's mediation efforts, affirming the Russian Federation's support for these negotiations, diplomatic channels, political solutions, and their utmost importance in establishing international peace and security. On the other hand, His Excellency Wang Yi, Chinese Foreign Minister, emphasized that the nuclear issue cannot be resolved outside the scope of diplomatic efforts and that Israel's attacks on Iranian territory constitute a clear and blatant violation of UN Charter and the principles of international law. He also affirmed his agreement with Oman's position and highly valued the Sultanate's tireless efforts to promote peace and facilitate negotiation pathways. 2022 © All right reserved for Oman Establishment for Press, Publication and Advertising (OEPPA) Provided by SyndiGate Media Inc. (
Zawya
6 hours ago
- Business
- Zawya
‘LNG from Oman': Unified brand for Oman's LNG
MUSCAT- With two more LNG projects currently under development and construction, the Sultanate is seeking to leverage this significant expansion of its LNG industry to build a new brand around the global sales of LNG from Oman. Stylised as 'LNG from Oman', this brand will encompass exports from Oman LNG's three-train complex at Qalhat, future production from the under-construction Marsa LNG bunkering project at Sohar Port, and the proposed fourth LNG train project, dubbed 'Sur LNG', which is currently under deliberation. According to Hamed al Naamany, CEO of Oman LNG, the branding initiative aims to capitalise on the strong foundations of trust, reliability, and flexibility that have characterised Oman's LNG exports over the past two decades. 'We're delivering 'LNG from Oman' because that is the brand the global market recognises and trusts,' Al Naamany said. 'This includes Sur LNG, our planned fourth train, and Marsa LNG in Sohar, a dedicated bunkering facility being built in partnership with TotalEnergies and our sister company OQ. Oman's market positioning is not about who operates the plant but the reliability and flexibility of the product from the country,' he added in an interview with The Energy Year (formerly The Oil & Gas Year). Elaborating on this point, Al Naamany described LNG from Oman as a brand offering a 'differentiated value proposition.' He explained: 'We work closely with different types of buyers – whether in Europe, Asia, or among portfolio players – to tailor commercial flexibility to their needs and ours. We are known as one of the most agile producers globally. We listen to our customers while meeting the expectations of our government. That dual responsiveness resulted in the successful signing of long-term agreements in record time.' Majority government-owned Oman LNG will play a pivotal role in this new brand positioning, the CEO noted. To this end, the company plans to build on its recent debottlenecking efforts, which enabled it to produce a record 12 million tonnes of LNG in 2024, surpassing its nameplate capacity of 11.4 million tonnes. This additional capacity, he added, has enhanced the company's ability to respond to spot-market demand and seasonal fluctuations. He further noted that nearly 85% of Oman LNG's volumes are now secured through term contracts ranging from three to ten years, offering a balance of stability and flexibility. Marsa LNG, meanwhile, will serve as a 'differentiator,' said Al Naamany. 'Marsa is the world's first purpose-built LNG bunkering facility. The location is fantastic, and we're all for it. Global shipping is shifting to LNG-fuelled vessels, and Oman sits on a key trade route. The government's decision to develop Marsa sends a powerful message: Oman will participate in every LNG market segment – power, transport, bunkering – as part of its growth and diversification agenda.' Also integral to the new branding is the Sur LNG project – a fourth train with a planned capacity of 3.8 million tonnes per annum, slated for launch by 2029, subject to a Final Investment Decision (FID). 'Sur LNG aims to be ready this year with a full proposal,' said Al Naamany. 'The final decision will rest with the government and the partners. The market clearly wants the product, and with a compelling value proposition, we could see delivery in less than four years from approval.' Feedstock for Oman LNG, Qalhat LNG and the proposed Sur LNG project is expected to come from a variety of sources, Al Naamany noted. 'We've always been flexible. When Khazzan came on line in 2018, we adapted. Our facilities at Oman LNG, Qalhat LNG, and Sur LNG are designed to process various gas compositions. We don't rely on specific fields; we adjust to what the government assigns. Our competitive edge lies in modifying plants cost-effectively while maintaining output.' Another pillar of Oman LNG's competitive edge in the global market is its 'commercial agility', he said, adding that the use of advanced optimisation tools – such as swapping, diverting, and re-trading – has contributed significantly to this strength. 'That's why energy traders and large portfolio players are partnering with us. We now have 14 Sales and Purchase Agreements (SPAs) with companies such as Botas, Shell, BP, TotalEnergies, Jera, Mitsui, Vitol, Mercuria, Kansai Electric Power, PTT, SEFE, OQT, and Sinopec, delivering volumes from 2025 to 2034. And there's more to come,' Al Naamany concluded. 2022 © All right reserved for Oman Establishment for Press, Publication and Advertising (OEPPA) Provided by SyndiGate Media Inc. (
Times of Oman
9 hours ago
- Business
- Times of Oman
National Museum hosts 'Neo-Russian Style' exhibition
Muscat — Within the frameworks of "The Russian Seasons,' the National Museum inaugurated today the "Neo-Russian Style" exhibition hosted in collaboration with the State Hermitage Museum, under the patronage of Qais Mohammed Al Yousef, Minister of Commerce, Industry and Investment Promotion. The exhibition, which will run until 2 November 2025, is dedicated to the bright period in the history of artistic life of the Russian Empire in the 1880s - 1910s, when "the Russian style" in art formed several decades earlier was experiencing its new rise. The features of the Neo-Russian style during the rule of the last emperors Alexander III and Nicholas II manifested themselves in the architecture of St. Petersburg, Moscow, large and small provincial towns of Russia, in works of painting, sculpture, decorative and applied art. Jamal Hassan Al Moosawi, Secretary General of the National Museum, stated in his opening speech that the inauguration of this exhibition comes as part of a series of cultural events under the Russian Cultural Seasons, reflecting the ongoing interaction with cultural and museological institutions in the Russian Federation to strengthen the bonds of cultural and museological cooperation — the most recent of which was the launch of the National Museum's website in the Russian language. He added: "As part of cultural diplomacy, work is underway on a number of joint projects and events with the Russian Ministry of Culture, including the hosting of musical seasons at Bayt al-Greiza this coming October, as well as cooperation with the State Tretyakov Gallery to organize an exhibition on the pioneers of Omani fine art. In the same context, there is also collaboration with the Moscow Kremlin Museums to present the exhibition 'Imperial Russia and the East,' in addition to the launch of a dedicated Omani publications corner at both Chechen State University and the National Library of Russia, in celebration of the 40th anniversary of the establishment of diplomatic relations between the Sultanate of Oman and the Russian Federation." On his turn, Oleg Vladimirovich Levin, Ambassador of the Russian Federation to the Sultanate of Oman, stated in his speech that the exhibition sheds light on a period of Russian culture in the late 19th and early 20th centuries, known as the peak of the "Russian style", which reflects the diversity of traditions of the Russian Empire as manifested in art, architecture, and daily life. He added that this exhibition represents an important step in strengthening the cultural dialogue between the Russian Federation and the Sultanate of Oman, as it demonstrates how art and tradition can serve as a bridge between nations in the pursuit of preserving the world's cultural heritage. During the ceremony, a video message from Professor Dr. Mikhail Piotrovsky, Director of the State Hermitage Museum and member of the Board of Trustees of the National Museum, was presented. In his address, he expressed his delight at the opening of the exhibition "Neo-Russian Style", which illustrates the development of Russian culture from the 1880s to the 1910s. The exhibition showcases remarkable examples of applied arts and historical masquerade costumes that were worn at court balls in Imperial Russia. He also referred to the opening of the second exhibition under the Hermitage Museum Corner initiative, entitled "Gifts of the Emirs of Bukhara and Central Asia to the Russian Imperial Court", and expressed his enthusiasm for the forthcoming exhibition in the "Oman Hall" at the State Hermitage Museum. The exhibits include gifts to the Russian monarchs: tray dishes, saltcellars and fans. These items, like a mirror, reflected the idea of the unity of the people, the Church and the Tsar, formulated in the Russian Empire back in the first third of the 19th century as the official ideological triad. Among the exhibits is a silver presentation dish presented to Emperor Alexander III and Empress Maria Feodorovna by oilmen from the Absheron Peninsula during their visit to the Caucasus in 1888 CE. The dish was crafted in the Russian style at the renowned jewelry factory of Ivan Khlebnikov. The exhibition also features a silver presentation salt cellar with Lid presented to Emperor Nicholas Il upon his return from his Eastern journey between 1890 and 1891. It was produced at the famous Pavel Ovchinnikov factory in Moscow and gifted to the emperor by artisans from the Southern Ural region. Additionally, the exhibits include a lace fan made from Vologda bobbin lace, featuring the letter "M" engraved on a yellow Stain Pad in Wooden Case. The fan belonged to Empress Maria Feodorovna and it dated 1883 CE. Also, on display is a Portrait of a young woman wearing a traditional Russian outfit, including the kokoshnik headdress, painted by artist Sofya Yunker-Kramskaya, dating back to the early 20th century. Of particular interest are the character costumes designed for the popular Russian-style costume parties of the time and made in the capital's shops by the best tailors for representatives of the imperial family and the highest aristocracy. Such parties were held both in the modest homes of ordinary townspeople and in the luxurious mansions of the Russian nobility, in halls rented for one evening by all sorts of charitable organizations, as well as in the glittering grand ducal and tsarist residences. It was during balls and masquerades, when costumes were the main component of the festivities, that the luxury and splendor of the Russian imperial court were manifested to the full extent. The Yusupov princes whose costumes will be on display at the exhibition were said to be incomparable organizers of masquerades and "historical balls" in St Petersburg. The most famous court masquerade in the Russian style was the grand ball of 1903 in the Winter Palace which specifically symbolized the greatness of the Romanov dynasty and received a wide public response. The luxurious costume of Grand Duchess Ksenia Aleksandrovna, a sister of Emperor Nicholas II, demonstrates the best the specific features of "the Russian style" in the costume of the early 20th century. It is worth noting that the National Museum inaugurated, at the beginning of February this year, the second exhibition within the "State Hermitage Museum Corner" initiative, titled "Gifts of Bukharan and Central Asia Emirs to the Russian Imperial Court." The exhibition marks the first event of the "Russian Seasons" in the Sultanate of Oman. It focuses on the deep and longstanding ties between Russia and the peoples of the East, highlighting the unique gifts presented by Eastern rulers to the Russian Imperial Court. The second exhibition under the "Oman Hall" initiative, organized by the National Museum at the State Hermitage Museum and titled "The Omani Empire Between Asia and Africa," attracted a total of 414,481 visitors between December 2023 and January 2025, reflecting strong interest among visitors in the rich cultural heritage of Oman. The State Hermitage Museum in Saint Petersburg is one of the largest museums in the world, housing a collection of over three million artefacts. Established in 1764, it is also one of the oldest museums globally and one of the most important tourist landmarks in Russia. The museum is renowned for its vast complex, including the Winter Palace, a historical landmark in its own right. The museum's collection spans diverse cultures, featuring artworks from Eastern Europe, Russia, Ancient Greece and Rome, the Near and Far East, and Central Asia. It also houses an extensive numismatic collection covering antiquity to modern times, as well as weapons from Western Europe, the Middle East, and Russia, alongside numerous archaeological discoveries. Each year, the museum welcomes approximately (4) million visitors. Its (500) exhibition galleries display over seventeen thousand paintings, (12.000) thousand sculptures, more than 1 million coins and medals, (800.000) archaeological artefacts, and over (360.000) applied arts objects. Additionally, the museum holds more than (600.000) graphic art pieces, making it one of the world's most significant cultural institutions.
