Latest news with #Omantel
Observer
2 days ago
- Business
- Observer
Muscat Stock Exchange reaches 29-month high
MUSCAT: The Muscat Stock Exchange's main index closed last week at its highest level in 29 months, buoyed by strong buying from local funds, institutions, and investors. The index climbed 68 points to 4,849, its best since March 30, 2023. All sector indices advanced, led by the industrial sector, which gained 150 points. The services sector rose 28 points, the financial sector 18 points, and the Shariah index 3 points to 469. Trading activity was robust, with turnover rising 31.3 per cent to RO 129.8 million, compared with RO 98.8 million the week before. Transactions increased 3 per cent to over 10,700. Market capitalisation grew by RO 269 million to RO 29.40 billion. Prices rose for 42 securities, fell for 21, and remained unchanged for 29. United Finance Bonds and Oman Refreshments led the gainers with 11.1 per cent increases, while Muscat Insurance topped the losers, dropping 18.9 per cent. Bank Muscat was the most traded stock by value, with RO 35.2 million in transactions, followed by OQ Base Industries (RO 29.8 million), Bank International (RO 16.8 million), OQ Gas Networks (RO 16.1 million), and OQ Exploration and Production (RO 11.3 million). In corporate news, Omantel and Ooredoo announced that the Telecommunications Regulatory Authority has standardised the royalty rate for mobile and fixed services at 10 per cent of revenue, effective fiscal year 2025. Omantel expects this to boost net profits by RO 1.7 million after tax in the first half of 2025, while Ooredoo forecasts a RO 2.5 million post-tax benefit for the year. — ONA
Muscat Daily
2 days ago
- Business
- Muscat Daily
TRA cuts royalty rate on mobile service, boosting telecom operators' profits
Muscat – Oman's Telecommunications Regulatory Authority (TRA) has announced a decision to standardise the royalty rate for all telecommunications services – mobile and fixed services – at 10% of revenues, effective from the 2025 financial year. The decision, which will reduce the royalty rate for mobile services from the current 12% to 10% of revenue, is expected to lower the royalty expenses of Oman's telecom operators and positively impact their earnings. The TRA's decision applies to all Class I, Class II, and Class III telecom licence holders in the sultanate. In a disclosure to the Muscat Stock Exchange, Oman Telecommunications Company (Omantel), the largest telecom service provider in the sultanate, said the TRA's decision reduces the royalty rate on mobile telecommunications services from 12% to 10%, while the rate for fixed telecommunications services remains unchanged at 10%. 'The decision will lead to a reduction in Omantel's royalty expenses and a positive impact of RO1.7mn (net of taxes) on net profit for the six months ending June 30, 2025,' Omantel said. Omantel reaffirmed its commitment to complying with regulations and the regulatory framework. 'The company will continue to disclose transparently any material developments that may affect its financial position.' Ooredoo Oman, officially known as Omani-Qatari Telecommunications Company, confirmed it has received notification from the TRA regarding the new royalty rate and anticipates an after-tax financial benefit of around RO2.5mn for the full year 2025. The company expressed its appreciation for the TRA's efforts in standardising the rates. 'The standardisation of the royalty rate is expected to have a positive effect on the company's financial results, amounting to RO2.5mn after tax for the financial year 2025,' Ooredoo Oman said in a separate disclosure to the Muscat Stock Exchange.
Observer
04-08-2025
- Business
- Observer
‘Our Pioneers in Dhofar' campaign kicks off
SALALAH: For the third consecutive year, the 'Our Pioneers in Dhofar' campaign has returned, reinforcing Riyada's commitment to empowering small and medium enterprises (SMEs) across Oman. Launched as part of the Khareef Dhofar festivities, the campaign aims to strengthen the role of entrepreneurs and elevate their economic contributions during the peak tourism season in Dhofar. Organised by the Authority for Small and Medium Enterprises Development, the initiative serves as an integrated platform that combines empowerment, education and marketing. Running throughout July and August and continuing into early September, the campaign spans various key locations in Dhofar Governorate. This year's edition features a wide range of activities, including introductory meetings, specialised workshops and training programmes. Notable events include pre-qualification sessions for institutions in the security and safety sectors, an orientation on the 'Mahal' programme, an Oman Exports workshop and collaborative sessions with Omantel. Open marketing spaces for entrepreneurs are also a central feature - such as the SMEs corner in the Al Hafa Beach Market and the Oman Oil Bazaar. The Future Pioneers Camp further enhances the campaign by equipping aspiring youth with leadership skills and business readiness. By participating in the khareef season, SMEs gain a strategic platform to promote their products, engage directly with consumers and expand their local market presence. The broader aim is to position SMEs as key players in national economic growth and innovation. Highlighting its support, the Authority has waived registration fees and commissions for SMEs using dedicated marketing outlets. These include the newly launched Omani Crafts House, offering a direct sales platform to help boost visibility and revenue for local businesses and artisans. With continued collaboration between public and private sectors, the 'Our Pioneers in Dhofar' campaign reflects an integrated vision - using the vibrancy of khareef as a springboard for entrepreneurial success and sustainable economic development in the governorate.
Zawya
03-08-2025
- Business
- Zawya
Reinforcing its investor relations leadership, Omantel supports MEIRA Annual Conference
Muscat: Omantel is proud to support and sponsor the upcoming Middle East Investor Relations Association (MEIRA) Annual Conference and Awards, set to take place in September in the Governorate of Muscat. The initiative reflects Omantel's commitment to elevating Oman's presence on the regional and global investment stage, while contributing to the growth of more diverse and integrated capital markets. The conference will bring together over 750 professionals and organisations from across the investor relations landscape to explore global trends, emerging innovations, and new opportunities shaping the future of financial communications in the Middle East. The event will also honour excellence and celebrate institutional achievements in investor relations. Commenting on the occasion, Ghassan Al Hashar, Chief Financial Officer at Omantel, said: 'Our support for the MEIRA Conference, hosted in the Sultanate of Oman, reflects our firm belief in the importance of transparency and meaningful engagement between companies and the investment community. It also reaffirms our long-standing commitment to strengthening the investment environment and enhancing the competitiveness of capital markets in the region. At Omantel, we actively uphold international best practices in investor relations, aligned with our broader vision for strong governance and sustainable growth.' Paolo Casamassima, Chief Executive Officer of MEIRA, added: 'Omantel continues to lead the way in advancing investor relations standards, not only in Oman but across the wider region. As a founding member of MEIRA's Oman chapter and a consistent supporter of our initiatives, Omantel plays a key role in driving collaboration and enabling the growth of capital markets in the Middle East. We are pleased to welcome them as a strategic partner for this year's conference in Muscat, where we will work together to elevate the profession and attract long-term, sustainable investment.' Omantel is a founding member of MEIRA's Oman chapter and works closely with regulators and market stakeholders to promote transparency, corporate governance, and international standards across Oman's capital markets. The company's senior executive participation at the event underscores its role as a leading investment brand and a key player in enhancing Oman's market appeal. This engagement further reflects Omantel's leadership in investor relations and its commitment to open, effective communication with regional and international investors—grounded in sound governance and transparency. MEIRA is an independent, non-profit organization focused on advancing the investor relations profession and promoting international governance standards across the Middle East. The association supports the development of efficient and attractive capital markets by encouraging dialogue among its members and advocating best practices. Through its regional branches and member network, MEIRA also offers professional development, certification programmes, and collaborative industry platforms.
Zawya
03-08-2025
- Business
- Zawya
Omantel continues its 'Break the Barrier' campaign as technology partner of Khareef Dhofar 2025
Muscat – Omantel continues to strengthen its prominent presence at Dhofar Khareef, one of the region's most iconic tourism seasons, through a renewed technology partnership with Dhofar Municipality. This collaboration underscores Omantel's commitment to enhancing its brand presence and supporting national efforts to ensure the success of the tourism season, which attracts a growing number of visitors from within and outside the Sultanate. This year's participation comes under the theme 'Break the Barrier,' a campaign designed to inspire visitors to embrace new experiences, move beyond routine, and enjoy the unique autumn atmosphere of Dhofar. The campaign also encourages guests to capture their moments and share them across digital platforms powered by Omantel's advanced network. To ensure a smooth experience for visitors, Omantel has made early preparations by expanding network capacity across key tourist sites and high-traffic areas, while upgrading and redistributing several stations to deliver stronger coverage and ensure exceptional voice and data services even during peak demand. To provide added convenience for visitors, public Wi-Fi is now available at key locations across Dhofar, including Eteen Square, Awaqad Park, and Awdhat Al Madhi, ensuring reliable connectivity throughout their visit. The 'Break the Barrier' campaign further reflects Omantel's commitment to enabling seamless digital engagement, encouraging visitors to create and share memorable moments. In line with this approach, Omantel offers special data bundles and prepaid visitor packages, available through eSIM activation via the 'Omantel' app, at its retail outlets, and at dedicated counters at Muscat and Salalah airports. Beyond technology, Omantel's participation also emphasizes its commitment to supporting youth initiatives and start-ups in Dhofar by providing platforms for showcasing their projects and engaging with visitors. The company is partnering in several cultural and entertainment activities aimed at enriching the visitor experience and fostering stronger community connections. In addition, Omantel is launching technology-driven initiatives in collaboration with local charities and community organizations as part of the corporate social responsibility efforts. Omantel has succeeded, through the integration of its operations, processes, and extensive expertise in the field of communications and digital technology, in establishing its position as a leading telecommunications company within the Sultanate of Oman and beyond. The company's innovative approaches have contributed to providing the latest solutions to various consumer and business sectors. The company aims to deliver an unparalleled, exceptional experience to its subscribers and strives to always exceed their expectations. Omantel is committed towards the achievement of Oman Vision 2040 objectives by investing in emerging technologies and providing cutting-edge solutions in modern technology, information and communications technology, such as cloud solutions, ICT solutions, AI, Smart solutions, cybersecurity, and much more.
