Page 2 - Oman

'India-Oman free trade agreement talks progressing at healthy pace'

The negotiations for a proposed Free Trade Agreement (FTA) between India and Oman are progressing at a healthy pace and the two sides will hold another round of talks to resolve the pending issues, an official said. The official said that issues pertaining to petrochemical products have been resolved. The negotiations received a much need impetus after the visit of Commerce and Industry Minister Piyush Goyal to Muscat last month. "One more round of negotiations on the Comprehensive Economic Partnership Agreement (CEPA) will happen," the official added. On January 27 in Muscat, trade ministers of India and Oman reviewed progress of the proposed agreement and focused on advancing the negotiations for the pact. The agreement was discussed between Goyal and Oman's Minister of Commerce, Industry and Investment Promotion Qais bin Mohammed Al Yousef. On January 14, India and Oman held the fifth round of talks for the agreement, aiming to boost bilateral economic ties. The negotiations

India, Oman trade ministers discuss advancing FTA negotiations pact

Trade ministers of India and Oman on Monday reviewed progress of the proposed free trade agreement (FTA) between the two countries and focused on advancing the negotiations for the pact. The agreement was discussed between Commerce and Industry Minister Piyush Goyal and Oman's Minister of Commerce, Industry and Investment Promotion Qais bin Mohammed Al Yousef in Muscat. "Our talks focused on advancing negotiations on the Comprehensive Economic Partnership Agreement (CEPA), strengthening trade and investment ties, and exploring avenues to further deepen our bilateral partnership," Goyal said on X. Goyal is in Muscat for the Joint Commission Meeting, which will be held on January 28. On January 14, India and Oman held the fifth round of talks for the agreement, aiming to boost bilateral economic ties. The negotiations for the agreement, officially dubbed CEPA, formally began in November 2023. In such agreements, two trading partners either significantly reduce or eliminate customs

Sembcorp launches first greenfield largest utility-scale solar farm in Oman

Sembcorp Industries, headquartered in Singapore, launched its 588 MW solar power project in Oman on Friday. Bilarab bin Haitham Al Said of the Royal Family and the second son of Sultan Haitham bin Tariq, inaugurated the project, the company said. The plant is Sembcorp's first greenfield renewables development project in the Middle East and also the 'largest utility-scale solar farm' in the global renewables portfolio of the company. "The inauguration of Manah 2 Solar Power Plant marks a key milestone in Sembcorp's commitment to Oman's transition to a sustainable future, and strengthening (its) partnership with Nama Power and Water Procurement Company. As Sembcorp's largest utility-scale solar plant globally, it supports Oman's Vision 2040 by advancing the nation's renewable energy targets," said Sembcorp Industries, CEO of Middle East and Chairman, South Asia, Vipul Tuli. The plant would provide clean energy to approximately 60,000 households, reducing carbon emissions, he said in

India-Oman FTA likely on agenda during Goyal's Muscat visit next week

Issues pertaining to the proposed free trade agreement (FTA) between India and Oman are expected to figure during the visit of Commerce and Industry Minister Piyush Goyal to Muscat next week, an official said. Though the negotiations for the proposed agreement were concluded, Oman has sought revision of its market access offers on some products. On January 14, India and Oman held the fifth round of talks for the agreement, which is aimed at boosting bilateral economic ties. The negotiations for the agreement, officially dubbed as Comprehensive Economic Partnership Agreement (CEPA), formally began in November 2023. In such agreements, two trading partners either significantly reduce or eliminate customs duties on a maximum number of goods traded between them. They also ease norms to promote trade in services and attract investments. The official said the Union minister is visiting the West Asian nation for the eleventh session of the India-Oman Joint Commission Meeting (JCM). The .

India to continue working together with Oman in tourism sector, says min

He added that Oman is particularly well-known in the Indian market as a popular wedding destination

BoB to sell Oman operation to Bank Dhofar as part of rationalisation

State-owned Bank of Baroda (BoB) on Thursday said it proposes to sell its Oman operation to Bank Dhofar as part of rationalisation of foreign operation. The bank has accorded approval for accepting the offer for acquisition of the banking business of Bank's Oman territory operations by Bank Dhofar on a going concern basis, BoB said in a regulatory filing. This is subject to approval from concerned regulatory authorities, it said. The total business of BoB operation in the country was 113.35 million Omani Rial while the net worth stood at 25.54 million Omani Rial. It is to be noted that the bank has been rationalising its foreign operations based on a comprehensive evaluation framework. As part of this exercise, the wholesale branch in China was closed during 2020-21, and the entire stake in the wholly-owned overseas subsidiary at Trinidad and Tobago viz. Bank of Baroda (Trinidad and Tobago) Ltd was divested by way of sale to Ansa Merchant Bank Ltd. As of March 31, 2024, the BoB's

India-Oman free trade pact talks at advanced stage, says Ambassador Narang

Discussions for the proposed free trade agreement (FTA) between India and Oman are at an advanced stage and both sides hope to conclude the pact early, Indian Ambassador to Oman Amit Narang said on Tuesday. The pact will give a significant push to bilateral trade and investment ties between the two countries, he said. The pact, officially known as the Comprehensive Economic Partnership Agreement (CEPA), is expected to boost Indian exports to the west Asian country by eliminating duties, especially on petroleum products, textiles, electronics, pharmaceuticals, machinery, and iron and steel. "Discussions for a bilateral CEPA with Oman are at an advanced stage. We hope to conclude these discussions early and once this is done, this will be a significant push to bilateral, not just trade, but also bilateral investment ties," Narang said. Addressing an event organised by Ficci here, the Indian Ambassador to Oman also highlighted the significant potential for enhancing direct shipping li

India free-trade agreement with Oman hits market-access roadblock

Differences over access to petrochemical products major bone of contention

8 rescued off Oman coast reach ashore; 1 Indian national's body recovered

Tragically, the body of one Indian crew member has been recovered. The Indian government is closely monitoring the situation and ensuring all possible assistance for the affected families

8 out of 13 Indians onboard vessel capsized off Oman coast rescued

Nine crew members from MT Falcon Prestige - eight Indians and one Sri Lankan - have been rescued during the search operations, the sources said

Oil tanker capsize off the Oman coast, 13 Indians among 16 crew missing

The oil tanker, identified as Prestige Falcon, was heading towards Yemen's Aden port and capsized off near Duqm, Oman's prominent industrial hub

Indian national killed, another injured in Muscat mosque shooting incident

At least six people have been killed and 28 others wounded in a shooting at a mosque in Oman in a rare act of violence in the Gulf nation, as per reports

India, EU discuss CBAM concerns ahead of eighth round of FTA talks

Oman is seeking duty concessions on petrochemical products such as polypropylene and polyethylene, used primarily in the plastics industry

India may sign FTA with Oman in first 100 days of PM Modi's third term

This free trade agreement with Oman will mark the first significant bilateral deal of Modi's third term as Prime Minister of India

T20 World Cup 2024: WI eye big win against Uganda; Scots up against Oman

Co-hosts West Indies will look to shake off their batting rustiness and come in their element when they face Uganda in a Group C T20 World Cup clash here. The pre-tournament favourites and two-time former champions suffered a scare chasing a modest 137 before they scraped to five-wicket win over minnows Papua New Guinea in their opening match. On a difficult pitch that required patience and application, West Indies batters kept playing recklessly and found themselves half the side down for 97 with just four overs remaining. It was then left to Roston Chase (42 not out) and Andre Russell (15 not out) to safely take them home and avoid an embarrassment. Against a team who are coming on the back of morale boosting win over Papua New Guinea, West Indies will have to exercise some caution especially with the bat. Nicholas Pooran has been their most standout batter in the recent past and the wicketkeeper-batter will have responsibility to stay at the crease till the end. On conditions

T20 World Cup 2024 points table Group B: Australia, England rankings

In the ICC T20 World Cup 2024, Group B Australia are at the top of the table after they beat defending champions England, However, England is not in the second position but it is an associate nation

T20 World Cup 2024: Stoinis leads Australia to comprehensive win over Oman

Marcus Stoinis smacked a quick-fire unbeaten half-century and claimed three wickets as Australia began their T20 World Cup campaign with a comprehensive 39-run victory against Oman at the Kensington Oval on Thursday. Stoinis helped Australia recover from a top-order slide with a brutal unbeaten 67-run knock off 36 balls to help them post 164/5 in the company of David Warner (56). He then produced figures of 3-0-19-3 as the 2021 champions grabbed two points. Oman tried to take the fight to the opposition but their lack of experience showed as they could manage only 125/9 in 20 overs. Oman were pegged back when Nathan Ellis (2/28) and Mitchell Starc (2/20) struck once each inside the first three overs. Starc produced a vicious inswinger on the third ball of Oman's innings which hit Pratik Athavale (0) on the pads, but Australia were forced to take a DRS review after their appeal was declined on the field. Oman then reviewed unsuccessfully when Ellis pinned Kashyap Prajapati (7) in f

ICC T20 World Cup 2024: AUS vs OMN, PNG vs UGA, USA vs PAK and NAM vs SCO

In the T20 World Cup 2024, four matches will be played on June 6 according to the Indian Standard Time, with the first match starting at 5 AM and the last match at midnight 12:30 AM (June 7)

T20 World Cup 2024: Wiese helps Namibia defeat Oman in Super Over

Namibia defeated Oman in Super Over to begin their campaign in the T20 World Cup on a winning note here on Monday. Batting first, Oman were bowled out for 109 in 19.4 overs at the Kensington Oval. In reply, Namibia were also stopped at the same team score with Jan Frylinck making 45 in 48 balls and Mehran Khan taking 3/7 to take the game into the Super Over. Namibia's Gerhard Erasmus and David Wiese smashed 21 runs in the one-over eliminator and Oman could manage only 10. Earlier, Namibia's South Africa-born left-arm fast bowler Ruben Trumpelmann (4/21) created history as he became the first player in history of T20I cricket to take two wickets off the first two balls of a match. The 26-year-old achieved the feat when he dismissed opener Kashyap Prajapati and Oman skipper Aqib Ilyas for golden ducks on the first two balls of the match after Namibia asked their opponents to bat first. Khalid Kail top-scored for Oman with 34 in 39 balls. Brief scores: Oman: 109 all out in 19.4 ove

Not cloud seeding, climate change to blame for Dubai floods: Scientists

UAE got 254 mm of rainfall over 24 hours last week, more than it typically receives in an entire year