Latest news with #GulfCooperation
The National
7 days ago
- General
- The National
Sheikh Mansour visits Kuwait
Sheikh Mansour was also in Kuwait to represent the UAE at the 45th GCC Summit in December 2024. Abdulla Al Neyadi / UAE Presidential Court
The National
02-06-2025
- Business
- The National
Sheikh Mansour bin Zayed to make official visit to Kuwait on Tuesday
Sheikh Mansour bin Zayed, Vice President, Deputy Prime Minister and Chairman of the Presidential Court, will on Tuesday begin an official visit to Kuwait aimed at bolstering long-standing ties between the Gulf countries. Sheikh Mansour is to hold talks with Kuwaiti Emir Sheikh Meshal to explore ways to enhance partnerships in various fields, state news agency Wam reported. The Emirates is one of Kuwait's largest economic partners, with trade between the countries growing markedly in recently years. President Sheikh Mohamed paid a state visit to Kuwait in November last year, during which he met Sheikh Meshal. In September last year, Sheikh Abdullah bin Zayed, Deputy Prime Minister and Minister of Foreign Affairs, joined Kuwaiti Foreign Minister Abdullah Al Yahya to inaugurate Kuwait 's new embassy in Abu Dhabi. The building is in the Embassies District, Al Ma'arid. Sheikh Abdullah said at the time that the new embassy showed the strength of ties between the UAE and Kuwait. He witnessed the signing of eight agreements related to sectors including infrastructure, technology, telecoms, national funding, sport, culture, cyber security and defence.
Zawya
29-05-2025
- Business
- Zawya
Oman records budget deficit in Q1
An increase in spending allied with lower revenues to create a deficit in Oman's budget in the first quarter of 2025, official data showed on Wednesday. The shortfall is in contrast with a large fiscal surplus recorded by the Gulf nation in the past two years mainly due to high oil prices. Finance Ministry figures showed the budget recorded a deficit of around 136 million Omani rials ($354 million) in the first quarter of this year compared with a surplus of OMR 162 million ($421 million) in the first quarter of 2024. Revenues declined by around seven percent to OMR 2.6 billion ($6.7 billion) in the first quarter of 2025 while expenditure grew by nearly four percent to around OMR 2.77 billion ($7.2 billion) in the same period. The report, published by the official Oman News Agency, showed the decline in total revenues was a result of a fall of about 13 percent in oil export earnings to nearly OMR1.47 billion ($3.8 billion) in the first quarter of 2025. Gas revenues also edged down by around two percent to nearly OMR436 million ($1.13 billion) in the same period. Figures by Oman's Oil Ministry showed the decline in oil revenues was caused by a drop in average oil prices to around $76 a barrel in the first quarter from $80 in the same period of last year. Oman's oil production also receded to nearly 986,000 barrels per day (bpd) from 997,000 bpd during that period. Oman, which is not an OPEC member but coordinates with grouping on output and price policies, recorded an actual budget surplus of OMR 830 million ($2.2 billion) in 2024 and about OMR 520 million ($1.35 billion) in the first 10 months of 2024. (Writing by Nadim Kawach; Editing by Anoop Menon) (
Zawya
28-05-2025
- Business
- Zawya
Oman ramps up investment in smart utility systems
MUSCAT: Oman's transition towards smart energy and water infrastructure is gathering pace, with leading public and private sector voices calling for stronger investments in digitalisation, AI and data-driven decision-making. These technologies, experts agree, are no longer optional — they are essential to meet the country's growing demand and sustainability goals. These insights were shared during Session 2: 'How to Fund the Next-Generation Smart Energy & Water Systems?' at the EU-Oman Energy & Water Collaboration Forum, held at Crowne Plaza OCEC on May 20–21, 2025. The forum, sponsored by Nama Group and the EU-GCC Cooperation on Green Transition Project, was moderated by Said al Kamyani, Sustainability Specialist. Speaking at the session, Jamie Hoyzer, CEO of Siemens Oman, stressed that digital transformation is key to enabling Oman's energy transition. 'Oman's energy demand is expected to triple by 2050. Smart grids, AI and predictive systems aren't luxuries — they're critical infrastructure,' he said. He highlighted a successful local project in which Siemens used AI to optimise a chilled water plant's operations, achieving a guaranteed 36% reduction in energy use — validated through performance guarantees from a local bank. Bringing in a European perspective, Moisés Blanco Maceiras, Adviser to the Secretary-General for EU Funds at Spain's Ministry of Finance, explained how Spain has effectively deployed smart infrastructure at scale. 'We've rolled out more than 27 million smart electric metres and supported AI-enabled irrigation and citizen-centric utility platforms through layered financing — EU grants, public-private partnerships and national co-funding,' he noted. Blanco encouraged Oman to consider similar multi-source funding models to accelerate its smart infrastructure deployment. From the utility side, Issam al Ismaili, Chief Commercial Officer of Nama Water Services, shared how digital tools are already making an impact in Oman. 'We've deployed over 700,000 smart metres and reduced non-revenue water from over 40% to 37.1%, with a target of 33% by the end of this year,' he said. Smart metres are not only cutting losses, but also giving customers access to real-time consumption data, helping to promote conservation and engagement. Complementing this, Fahad al Harrasi, General Manager of ICT at Nama Water Services, emphasised the importance of enabling technologies and local talent. 'Smart infrastructure is more than hardware — it's a data ecosystem that supports long-term sustainability and creates jobs for Omanis,' he stated. He also noted Nama's successful public-private partnerships under a build-operate-transfer model, which are driving digital transformation in the sector. Speakers agreed that to sustain momentum, Oman must continue aligning its policies, financing tools and human capital strategies. AI integration, workforce development and stronger public-private collaboration emerged as the top priorities for scaling demand-side innovation in utilities. 2022 © All right reserved for Oman Establishment for Press, Publication and Advertising (OEPPA) Provided by SyndiGate Media Inc. (
The National
26-05-2025
- Business
- The National
Sheikh Hamdan meets Sultan Haitham of Oman in Muscat
Sheikh Hamdan bin Mohammed, Crown Prince of Dubai, Deputy Prime Minister and Minister of Defence, on Monday met Sultan Haitham of Oman at Al Baraka Palace in Muscat. The meeting focused on building relations between the countries, with discussions focused on strengthening co-operation across key sectors, particularly in the economic, commercial, tourism, cultural and knowledge fields, Dubai Media Office reported. Sheikh Hamdan said the visit had been fulfilling, emphasising that it serves to highlight the depth and strength of relations between the UAE and Oman. He also said both countries were in agreement about reinforcing strategic priorities and expanding Gulf co-operation. He later held talks with Fahd bin Mahmoud Al Said, Oman's Deputy Prime Minister for Cabinet Affairs, in a meeting focused on development goals, particularly in the economic, political, scientific, and cultural fields. Sheikh Hamdan also met Shihab bin Tariq Al Said, Oman's Deputy Prime Minister for Defence Affairs, to discuss strengthening co-operation and joint efforts between the armed forces on either side. They also highlighted the need for greater international co-operation to achieve lasting peace in the region and around the world. The Crown Prince of Dubai then witnessed the signing of an agreement to develop and operate the first phase of Oman's Al Rawdah Special Economic Zone. He described it as "a key milestone in advancing our economic partnership and collaboration". Concluding his visit, he attended a lunch at Al Bustan Palace hosted by Theyazin bin Haitham Al Said, Oman's Minister of Culture, Sports and Youth. Last year, President Sheikh Mohamed held high-level talks with Sultan Haitham in Abu Dhabi, where the two nations struck deals to bolster ties in sectors such as renewable energy, technology and rail infrastructure. The two leaders witnessed the signing of agreements aimed at strengthening bilateral relations as part of Sultan Haitham's state visit. The deals also covered investment, sustainability and education. Last month, Sheikh Hamdan held high-level talks with Indian Prime Minister Narendra Modi in New Delhi as part of an official visit. The Crown Prince met senior officials for talks aimed at furthering partnerships between the UAE and India.
