Qatar Airways' temporary flights suspension due to air traffic movement closure
The airline is working closely with government stakeholders and the relevant authorities to support impacted passengers, and will resume operations when the airspace reopens.
Once usual operations resume, we anticipate significant delays to our flight schedule.
We have also deployed additional ground staff at Hamad International Airport and other key airports to assist affected passengers.
The safety of our passengers and crew remains our highest priority.
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Times of Oman
23 minutes ago
- Times of Oman
Oman streamlines ID system under amended Civil Status Law: Longer validity, revised fees
Oman has implemented significant reforms to its civil identification system through Royal Oman Police Decision 78/2025, amending the Executive Regulation of the Civil Status Law originally issued under Decision 40/2007. The changes modernise card validity periods and fee structures to enhance administrative efficiency while adjusting fiscal requirements. Speaking exclusively to the Times of Oman, Dr. Mohammed Ibrahim Al Zadjali, Founding Partner of Mohammed Ibrahim Law Firm, explained that: 'Under the previous framework, Omani nationals' identity cards had a validity of five years with an issuance or renewal fee of OMR 5 and the replacement of damage/lost fee was OMR10. Residence cards for non-Omani, on the other hand, were available with a validity of one year or two years. For a one-year residence card, the issuance or renewal fee was OMR5, and the replacement of damage/lost fee was OMR10, while for a two-year residence card, the issuance or renewal fee was OMR10, and the replacement fee was OMR20.' He added that 'the amended framework now grants 10-year validity for Omani national IDs doubling previous durations but raises issuance/renewal fees to OMR10. Crucially, the renewal window shrinks from 60 to 30 days post-expiry. For foreigners, the validity of residence cards has now increased from two years to three years. The residence card can be issued or renewed for one, two, or three years at fees of OMR5, 10, or 15 respectively, with a replacement fee of OMR20 in case of loss or damage.' These reforms aim to ease the administrative burden on citizens by introducing a 10-year validity period for national ID cards, while extending residence cards for foreigner to be valid for up to 3 years, increased from the previous 2-year limit, thereby providing more flexibility for residents and streamlining renewal processes, he concluded. * (Mohammed Ibrahim Law Firm ([email protected]), (+968 244 87 600) was established 18 years ago and is serving clients through its offices in Muscat and Sohar, as well as operating on a request basis in other areas. It offers legal representation across a wide range of practice areas that include Labour Law, Corporate, Commercial, Contracts, Banking and Finance, International Trade, Foreign Investment, Insurance, Maritime Law, Construction and Engineering Contracts, International Arbitration, Intellectual Property and more).
Times of Oman
2 hours ago
- Times of Oman
Net profits of MSX-listed firms rise by 14.1% to OMR757.2mn
Muscat: Net profits of public joint-stock companies listed on the Muscat Stock Exchange (MSX) rose by 14.1 percent to OMR757.2 million in the first half of this year compared to OMR663.3 million in the same period last year. Preliminary financial results indicated that many companies saw increased profits, benefiting from economic growth and rising domestic demand, coupled with companies' efforts to boost exports and diversify their products. The total number of companies that achieved profits in the first half of this year reached 76. OQ Exploration and Production (OQEP) topped the list of companies with the highest profits, with OMR166 million. Bank Muscat came next with a profit of OMR125.8 million, Bank Sohar International came reported profit of OMR46.2 million. This was followed by Omantel profits amounting to OMR35.1 million, National Bank of Oman (NBO) with profits of OMR34 million. OQ Gas Networks reported profits of OMR25.4 million. Ominvest OMR24.6 million, Bank Dhofar OMR23.6 million, OQ Basic Industries OMR22.7 million and Ahli Bank with profits of OMR22.3 million. The first half of this year saw total losses incurred by public joint-stock companies rise to approximately OMR8.6 million, compared to OMR8 million in the same period last year, marking a 7.3 percent increase. The total number of companies that recorded losses in the first half of this year reached 17 companies. Raysut Cement topped the list with losses of OMR2.9 million, Oman Fisheries Company OMR1.1 million, Fincorp with loss of OMR928,000. Majan Glass OMR631,000 and National Aluminum Products Company reported losses of OMR522,000. At the sector level, the financial sector witnessed a 25.7 percent growth in net profits, which rose from OMR274.3 million to OMR345.1 million. The sector benefited from the strong performance of banks, whose net profits rose to OMR275.9 million compared to OMR256.3 million in the same period last year. The insurance sector performed well, with its net profits increasing to approximately OMR20 million, benefiting from the transition of Liva Group and Takaful Oman Insurance Company from losses to profits. Finance companies also performed well, with the sector's net profits rising to OMR13.1 million in the first half of this year, compared to OMR10.7 million in the same period last year. In the services sector, the energy and water sector recorded strong performance, with net profits rising to OMR73.6 million compared to OMR50.3 million in the same period last year, recording a growth of 46.3 percent, benefiting from the positive performance of listed companies and the transformation of Sohar Power and Barka Water and Power from losses to profits. The financial results of oil marketing companies showed good performance, with the sector's profits rising to approximately OMR9.6 million compared to OMR6.4 million in the same period last year. In contrast, the financial results of the telecommunications sector indicated a decline in net profits to OMR38.7 million, compared to OMR 43.8 million in the same period last year. The sector was affected by the decline in Omantel's net profits at the local level to OMR35.1 million, compared to OMR38.8 million in the same period last year. Ooredoo also recorded a decline in its net profits from OMR5 million to OMR3.6 million. However, the net profits of the Omantel Group, which includes the Kuwaiti Zain Group, increased from OMR110.2 million to OMR161.1 million. Omantel owns a 21.9 percent stake in the Kuwaiti Zain Group. Industrial companies performed well, with net profits for 20 industrial companies rising to OMR64.4 million compared to OMR32.8 million in the same period last year. This increase was due to the rise in net profits of OQ Basic Industries Company from OMR4.1 million to OMR22.7 million, making the company the top-ranked industrial company. Oman Cables Industry Company came in second with OMR11.3 million, followed by Voltamp Energy in third place with OMR6.8 million, Oman Cement in fourth place with OMR4.7 million, and Oman Flour Mills in fifth place with OMR4.3 million. The industrial sector managed to reduce its losses to OMR6.2 million, compared to OMR7.5 million in the same period last year. The sector also witnessed Dhofar Food and Investment, Oman Refreshments, and Al Maha Ceramics turning from losses to profits. The total number of industrial companies that recorded losses in the first half of this year reached 8 companies, compared to 10 companies that recorded losses in the same period last year. The good performance of public joint-stock companies was reflected in the Muscat Stock Exchange, which has witnessed a rise in share prices, trading volumes and values, and market capitalisation for several weeks, with increased liquidity directed towards investment in the exchange.
Times of Oman
2 hours ago
- Times of Oman
Muscat Stock Exchange records fresh gains in weekly trading
Muscat: The Muscat Stock Exchange (MSX) posted fresh gains in the week as liquidity continued to flow amid new disclosures that boosted confidence and pushed the main index above 4,930 points, recording a weekly increase of 80 points. Several companies announced positive developments and promising future plans during the week, boosting confidence in their performance and maintaining the gains the Muscat Stock Exchange has been recording for several weeks. The services sector index rose 82 points to close at 1,919 points, the financial sector index rose 32 points, and the Sharia index rose to 477 points, up by 7 points. Meanwhile, the industrial sector index fell 39 points, affected by the decline in shares of several industrial companies, most notably Oman Cables Industry Company, Voltamp Energy, Al Jazeera Steel Products Company, Oman Flour Mills, Gulf International Chemicals Company, and OQ Basic Industries. Muscat Stock Exchange also saw gains in market capitalisation of OMR208.4 million in the week, reaching OMR29.61 billion by the end of Thursday's trading session, benefiting from the rise in shares of several companies. During the week high levels of trading was witnessed reaching OMR121.2 million with transactions executed recording a 28 percent increase and exceeding 13,700 transactions. Bank Muscat topped the most traded companies with OMR37.9 million, capturing 31.3 percent of the total trading value. OQ Exploration and Production came in second place with OMR19.2 million, and Sohar International Bank came in third with trades of OMR18.6 million, representing 15.4 percent of the total trading value. During the week, prices of 32 securities rose, while 32 declined, and 23 securities remained unchanged. Muscat Insurance recorded the highest increase, rising 20.7 percent to close at 855 baisas. Sembcorp Salalah rose by 16.1 percent to close at 180 baisas and SMN Power Holding rose 15.5 percent to close at 231 baisas. Gulf International Chemicals was the biggest loser, falling 5.2 percent to close at 72 baisas. Salalah Mills fell 4.6 percent to close at 410 baisas, and Dhofar International Development and Investment declined 3.3 percent to close at 290 baisas. In corporate news, OQ Exploration and Production (OQEP) announced that it intends to distribute interim cash dividends and performance-related dividends totaling 19.94 baisas per share, to be distributed in two phases in September and November. The company invited its shareholders to attend the ordinary general meeting scheduled for August 28 to approve this recommendation. This disclosure led to the company's share price rising last week to 360 baisas, exceeding the subscription price for the first time in several months. Omantel also announced its financial results for the first half of this year last week, recording net profits of OMR161.1 million for the group and OMR 35.1 million locally. The company's stock rose by 77 baisas closing the weekly trading at 975 baisas. Sohar International Bank said it has approached the Central Bank of Oman (CBO) for preliminary approval to submit a non-binding offer to acquire a 100 percent stake in Bait Insurance Company (known as Beema), the first integrated digital insurance platform. Bank Nizwa said its board of directors has approved a plan to increase its capital by OMR60 million across several tranches, through an initial public offering (IPO) or a private placement. The bank noted that the aim is to enhance its ability to meet the growing demand for Sharia-compliant financing across the retail, corporate, and international banking sectors. Oman Arab Bank said its board of directors had set the price of the rights issue shares at 151 baisas per share, including one baisa for issuance expenses. The bank's board of directors had decided last June to increase the bank's capital by OMR50 million through the issuance of rights issue. The share rose by one baisa closing the week at 149 baisas.
