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☆ Iran and U.S. Held Secret Talks on Proxy Attacks and Cease-Fire
▼ + stars: | 2024-03-15 | by ( Farnaz Fassihi | Eric Schmitt | ) www.nytimes.com time to read: +1 min

Iran and the United States held secret, indirect talks in Oman in January, addressing the escalating threat posed to Red Sea shipping by the Houthis in Yemen, as well as the attacks on American bases by Iran-backed militias in Iraq, according to Iranian and U.S. officials familiar with the discussions. The secret talks were held on Jan. 10 in Muscat, the capital of Oman, with Omani officials shuffling messages back and forth between delegations of Iranians and Americans sitting in separate rooms. The meeting, first reported by The Financial Times this week, was the first time Iranian and American officials had held in-person negotiations — albeit indirectly — in nearly eight months. American officials said Iran requested the meeting in January and the Omanis strongly recommended that the United States accept. Since the beginning of the war in Gaza after Hamas’s Oct. 7 attacks on Israel, the United States and Iran have reassured each other that neither was seeking a direct confrontation, a stance conveyed in messages they passed through intermediaries.

Persons: Ali Bagheri Kani, Brett McGurk Organizations: The Financial Locations: Iran, United States, Oman, Yemen, Iraq, Muscat, Gaza, Israel

☆ Yemen's Houthis Vow Response After US, British Strikes
▼ + stars: | 2024-02-04 | by ( Feb. | At A.M. | ) www.usnews.com time to read: +6 min

The group's military spokesperson Yahya Sarea said the U.S. strikes "will not pass without a response and consequences." HOUTHIS SAY WON'T BE DETERREDThe Houthis, who control swathes of Yemen, say their attacks are in solidarity with Palestinians as Israel strikes Gaza. The strategy blends limited military strikes and sanctions, and appears aimed at punishing the Houthis while attempting to limit the risk of a broad Middle East conflict. "We have already successfully targeted launchers and storage sites involved in Houthi attacks, and I am confident that our latest strikes have further degraded the Houthis’ capabilities." The United States said Sunday's strikes had support from Australia, Bahrain, Canada, Denmark, the Netherlands and New Zealand.

Persons: Phil Stewart, Idrees Ali, Mohammed Ghobari WASHINGTON, Yahya Sarea, Mahjoob Zweiri, Joe Biden, Sarea, Grant Shapps, Sunday's, Badr bin Hamad bin Hamoud, Busaidi, Andrew Mills, Tom Perry, Hugh Lawson Organizations: Reuters, Britain, Pentagon, Hamas, Residents, Islamic Revolutionary Guard Corps, Gulf Studies, Qatar University, U.S, Republicans, Democrat, U.S . military's Central Command, British Defence, U.S . Central Command, Oman Foreign, Tala Locations: ADEN, United States, Yemen, Iran, Palestinian, Israel, Gaza, Tehran, Houthi, U.S, Jordan, Iraq, Syria, Lebanon, Britain, Africa, Egypt, Suez, Red, States, Australia, Bahrain, Canada, Denmark, Netherlands, New Zealand, Sanaa Governorate, Taiz Governorate, Hodeidah Governorate, Oman, Doha, Dubai

☆ Illicit Iranian programs targeted by sanctions and criminal charges, US says
▼ + stars: | 2024-02-02 | by ( Michael Conte | Sean Lyngaas | ) edition.cnn.com time to read: +5 min

Washington CNN —The US announced a number of measures including sanctions and criminal charges targeting a range of malicious Iranian initiatives, including their cyberwarfare and drone programs, as well as Iran’s alleged illegal oil trafficking to fund foreign terrorist organizations. Earlier in the day, the Treasury Department announced sanctions against several Iran- and Hong Kong-based companies for allegedly supporting Iran’s drone program and missile production. The three alleged front companies in Hong Kong and an Iranian subsidiary allegedly obtained components, such as engines and carburetors, for Iran’s drone program. Treasury also announced sanctions targeting the head of Iran’s Islamic Revolutionary Guard Corps Cyber–Electronic Command and five other senior officials for alleged cyberattacks against critical infrastructure in the US and other countries. That’s a reference to a series of hacks that defaced computers at multiple water utilities in the US in November.

Persons: Biden, ”, General Merrick Garland, Christopher Wray, Brian Nelson, Matthew Miller, That’s, ” John Hultquist, Mandiant, CNN’s Hannah Rabinowitz Organizations: Washington CNN, US, Justice Department, Islamic Revolutionary Guard Corps, Department, DOJ, FBI, Treasury Department, Treasury, Terrorism, Financial, Command, Google, CNN, Boston Children’s Hospital Locations: Iran, Jordan, Omani, ”, Washington ,, United States, Hong Kong, Iranian, Israel, Boston, Tehran

☆ Marlon Brando's one-of-a-kind Rolex has been sold for more than $5 million — or has it?
▼ + stars: | 2023-12-03 | by ( Lloyd Lee | ) www.businessinsider.com time to read: +4 min

Marlon Brando's Rolex GMT-Master was recently sold at Christie's for more than $5 million. Brando's Rolex, which features unique customizations, was sold at Christie's auction house in November for more than $5 million. On November 6, 113 watches from his collection, including the Rolex GMT-Master, were auctioned off for more than $42 million. You can do anything you want to it and it will keep on going," Brando Fischer recalled her father telling her, according to the report. Brando Fischer later gifted the watch to her husband as a wedding present, which would be hidden in their home for years until it was auctioned.

Persons: Marlon Brando's, Brando, —, Marlon Brando, Francis Ford, Mohammed Zaman, Zaman, Denis Balibouse, Petra Brando Fischer, Brando Fischer, I'm, Walter E, Kurtz, Petra Organizations: Rolex, Service, Bloomberg, Oscar, Best, New York Times, Phillips, Brown University, Times Locations: Omani, Geneva, Vietnam

☆ Yemen's Houthi capture ship on suspicion of Israeli connection
▼ + stars: | 2023-11-20 | by ( Ruxandra Iordache | ) www.cnbc.com time to read: +3 min

Adnan Amin / 500Px | 500Px | Getty ImagesYemen's Iran-backed Houthi militants have captured what they called an Israeli ship in the Red Sea and taken it to the Yemeni coast, calling all Israeli vessels a "legitimate target." He urged the international community to avoid working with Israeli ships or owned by Israeli individuals. "Yemeni armed forces confirm that they will continue to carry out military operations against the Israeli enemy until the aggression against Gaza stops," the spokesperson said. On Monday, Japan's top government spokesperson confirmed the capture of the Nippon Yusen-operated ship, Galaxy Leader, according to Reuters. It is not an Israeli ship."

Persons: Adnan Amin, Houthi, Yahya Saree, Benjamin Netanyahu's, Netanyahu, Nasser Kanaani Organizations: Gaza, Nippon, Galaxy, Reuters, Google, Republic News Agency, Islamic Revolutionary Guard Corps Locations: Iran, Yemeni, Tokyo, Saudi, Omani, Bahamas, Yemen, Turkey, India, Israeli, British, Israel, Straits, Hormuz, Tehran

☆ Two ships divert course away from Red Sea area after vessel seized by Houthis
▼ + stars: | 2023-11-20 | by ( Jonathan Saul | ) www.reuters.com time to read: +3 min

[1/5] The Galaxy Leader cargo ship is escorted by Houthi boats in the Red Sea in this photo released November 20, 2023. Israel on Sunday said the Houthis had seized a British-owned, Japanese-operated cargo ship in the southern Red Sea, describing the incident as an "Iranian act of terrorism" with consequences for international maritime security. The Houthis, an ally of Tehran, confirmed that they had seized a ship in that area but described it as Israeli. The Glovis Star drifted for a number of hours in the Red Sea before continuing its journey, AIS ship tracking data showed on Monday. Houthi leadership last week said their forces would make further attacks on Israel and they could target Israeli ships in the Red Sea and the Bab al-Mandeb Strait.

Persons: Yemen's Houthis, Ray Car, Ambrey, Hermes, Isaac Herzog, Jonathan Saul, Mark Porter, Christina Fincher Organizations: Galaxy Leader, Houthi Military, REUTERS Acquire, Sunday, Nippon, Galaxy, Ray, Ray Car Carriers, Glovis, Hermes, AIS, Galaxy Maritime Ltd, Thomson Locations: Red, Gulf, Aden, Israel, British, Tehran, Japan, Saudi, Omani, Nishtun, Yemen, Sri Lanka, Mandeb Strait . U.S, Hodeidah

☆ In Oman, Frankincense Still Tops Gift Lists
▼ + stars: | 2023-11-17 | by ( David Belcher | ) www.nytimes.com time to read: +1 min

For Maryam Belhaf, her frankincense products business, called Alshoala, is about sharing her family’s connection with the resin, which dates back at least five generations. “My grandmother and other ladies used to get the frankincense from the trees when they went out with their goats, and then traded it for food from local merchants,” she said. Ms. Belhaf now has 15 employees (and several family members still help extract resin from the trees). She sells frankincense as chunks mixed with lavender, which is burned for its scent; as a perfume mixed with rose and musk; and as various scented lotions and skin toners (from eight to 25 Omani rial, or $21 to $65). It also offers silver incense burners handmade in the region (about 45 rial).

Persons: Maryam Belhaf, “, ”, Belhaf Locations: Aden, Yemen, India, Europe, ”, Salalah, Dhofar

☆ US Supreme Court turns away challenge to steel import tariffs
▼ + stars: | 2023-10-30 | by ( John Kruzel | Companies Need To Integrate Climate Reporting Across Functions To Comply With California S New Law | Henry Engler | ) www.reuters.com time to read: +4 min

People visit the U.S. Supreme Court building in Washington, U.S., August 31, 2023. Biden's administration had urged the Supreme Court not to take up the appeal. PrimeSource appealed to the Supreme Court in July. The Supreme Court in March turned away a challenge to the 2018 tariffs by a group of U.S.-based steel importers. The justices in 2022 refused to hear a separate challenge by steel companies to Trump's 2018 decision to double tariffs on steel imports from Turkey, also on national security grounds.

Persons: Kevin Wurm, Donald Trump, Irving, Joe Biden's, Wilbur Ross, Trump, Judge Richard Taranto, PrimeSource, John Kruzel, Will Dunham Organizations: U.S, Supreme, REUTERS, Rights, Trump, Commerce, Congress, Court of International Trade, White, Appeals, Federal Circuit, Trade, European Union, Thomson Locations: Washington , U.S, Irving , Texas, United States, St, Louis, Oman, Manhattan, Washington, China, Turkey

☆ McDonald's caught up in Israel-Hamas war as franchisees in the Middle East pledge aid to different sides
▼ + stars: | 2023-10-16 | by ( Nancy Luna | ) www.businessinsider.com time to read: +3 min

Last week, McDonald's Israel began donating meals daily to the Israel Defence Forces. Two days later, McDonald's Oman said it had donated $100,000 to help the people of Gaza. "We stand with Gaza in these difficult times," McDonald's Oman said in a statement posted on X, formerly known as Twitter. Meanwhile, McDonald's Israel said it will continue donating thousands of meals daily to "our forces across the country." As the two McDonald's franchise groups back different sides of the Israel-Hamas war, McDonald's Pakistan weighed in by distancing itself from McDonald's Israel.

Persons: McDonald's Israel, McDonald's, —, Al Daud, Benjamin Netanyahu Organizations: Israel Defence Forces, Service, McDonald's, SIZA Foods, . Ltd ., McDonald's Corp Locations: McDonald's Oman, Gaza, Israel, Oman, Pakistan, . Ltd . Pakistan, Chicago

☆ Biden administration blacklists China firms for Moscow, Tehran drone links
▼ + stars: | 2023-09-26 | by ( Clement Tan | ) www.cnbc.com time to read: +2 min

A broken window is seen after Russia launched 33 drones into the direction of Kyiv region, Ukraine on September 10, 2023. In a separate statement, the Ukrainian Air Force said that Russia sent 33 Shahed unmanned aerial vehicles (UAVs) toward Kyiv and Ukrainian forces shot down 26 of them. Anadolu Agency | Anadolu Agency | Getty ImagesThe Biden administration slapped fresh trade curbs on 11 Chinese and five Russian companies Monday, targeting foreign actors seen as compromising national security and drawing Beijing's ire. None of the Chinese entities cited were able to immediately respond to CNBC's requests for comment. CNBC was unable to reach the spokesperson of one company for comment, while some of the companies did not have public contact details.

Persons: Biden, Hong, Alan Estevez Organizations: Ukrainian Air Force, Anadolu Agency, Getty, Asia, Technology, U.S, Commerce Department's, of Industry, Commerce, Industry, CNBC Locations: Russia, Kyiv region, Ukraine, Kyiv, Ukrainian, Anadolu, U.S, Hong Kong, St . Petersburg, Iran, Yemen, Washington

☆ Houthi Officials to Arrive in Riyadh for Ceasefire Talks With Saudi Officials -Sources
▼ + stars: | 2023-09-14 | by ( Sept. | At A.M. | ) www.usnews.com time to read: 1 min

RIYADH (Reuters) - Houthi and Omani envoys are planning to arrive in Saudi Arabia on Thursday to try to negotiate a permanent ceasefire with Saudi officials to end the war in Yemen, two people involved in the talks said.

Organizations: Reuters, Saudi Locations: RIYADH, Saudi Arabia, Yemen

☆ Oman's OQ Gas Networks plans Muscat's biggest IPO in almost two decades
▼ + stars: | 2023-09-04 | by ( Hadeel Al Sayegh | ) www.reuters.com time to read: +3 min

OQGN is Oman's exclusive gas transportation system operator, supplying natural gas to the country's power plants, freezones, industrial clusters, LNG complexes and other customers. OQ, directly and indirectly through Oman Energy Trading Company Limited and Oman Oil Services Limited, is offering up to 49% of the shares, the document said. The company plans to pay a semi-annual dividend in cash to investors after the offering. A first dividend of 33 million rials for the first nine months of 2023 is estimated to be paid around January next year, and a second dividend of 11 million rials for the last three months of 2023 will be paid around April, 2024. Reuters first reported the IPO plans for the company last May.

Persons: OQGN, Talal Al Awfi, Al Awfi, Hadeel Al Sayegh, Louise Heavens, Sharon Singleton, Ed Osmond Organizations: OQ Gas Networks, Reuters, Oman Telecommunications, Oman Energy Trading Company Limited, Oman Oil Services, OQ, Abraj Energy Services, Oman Investment Authority, OQ's, Thomson Locations: DUBAI, Oman, Abu Dhabi, Saudi Arabia

An example is the trade in physical cargoes from the Middle East where Unipec, the trading arm of top Chinese refiner Sinopec, has been selling heavily this month. There are several reasons for this, including the output cuts implemented by OPEC+, which effect more Middle East grades than Brent and related light crudes. Asia is expected to import 29.12 million bpd in June, a third consecutive monthly gain and up from 26.47 million bpd in May, according to Refinitiv. China's imports are estimated at 12.5 million bpd, up slightly from May's 12.16 million, while India is forecast to receive 5.24 million bpd, up from 4.74 million bpd in May. Asia's imports from the United States are expected to reach a record high of 2.58 million bpd in June, up from 1.66 million bpd the prior month.

Persons: Unipec, refiners, BRENT, Brent, Stephen Coates Organizations: Unipec, Refinitiv Oil Research, Saudi Aramco, OPEC, Saudi, Aramco, refiners, Brent, . West Texas, Reuters, Thomson Locations: LAUNCESTON, Australia, Oman, Dubai, Middle East, Africa, Americas, Asia, Saudi, Brent, China, India, United States, Europe, North America

☆ A luxury project in Oman, which includes a Trump hotel and golf course, is being built by migrants earning as little as $340 a month
▼ + stars: | 2023-06-20 | by ( Charles R. Davis | ) www.businessinsider.com time to read: +3 min

Migrant workers in Oman are constructing a new luxury "city" that includes a Trump-branded hotel. They are laboring in extreme heat for as little as $340 a month, The New York Times reported. Critics of the project note that Oman is not regarded as a safe and welcoming environment for foreign labor. "Migrant workers are often not paid their full wages, forced to work excessively long hours, and denied adequate food and living conditions," according to a 2021 report from Human Rights Watch. Over a thousand migrant workers, many hailing from India, Pakistan, and Bangladesh, work 10-hour shifts before retiring to trailers that line the under-construction city.

Persons: —, Donald Trump's, of Oman —, Donald Trump, Trump's, Jared Kushner, Virginia Canter Organizations: Trump, New York Times, watchdogs, Service, Trump Organization, —, White, Getty, Human Rights Watch, Workers Locations: Oman, Saudi, of Oman, Washington, Muscat, India, Pakistan, Bangladesh

☆ Trump Real Estate Deal in Oman Underscores Ethics Concerns
▼ + stars: | 2023-06-20 | by ( Eric Lipton | ) www.nytimes.com time to read: +1 min

“It’s too hot — too hot,” said Mathan Mp, 38, who is from Tamil Nadu, the southernmost state of India, said as he took a break from supervising dozens of workers at the project site. Executives at DarGlobal, Dar Al Arkan and the Trump Organization declined to comment. The few remaining residents do not know a great deal about Mr. Trump, having only a general impression of him as a rich businessman and politician. “Trump — he is your king from America,” Mr. Talbi said, after inviting a visitor to his village inside to an air-conditioned room to sit on the floor and share a pot of tea. “Welcome to Oman.”

Persons: “, ”, Dar Al Arkan, Trump, Htim Talbi, “ Trump, ” Mr, Talbi Organizations: Mathan, Trump Organization, Trump, Mr Locations: Tamil Nadu, India, DarGlobal, Yiti, America, Oman

[1/4] Head of the Houthi Supreme Political Council, Mahdi al-Mashat, meets with Saudi and Omani delegations at the Republican Palace in Sanaa, Yemen April 9, 2023. Another Houthi official, Abdulmalik Alejri, said on Twitter that "with determination and honest intentions remaining difficulties can be resolved". STICKING POINTSTwo Yemeni sources, also speaking on condition of anonymity, said the parties could agree on an extended truce deal as they work out remaining differences. The United Nations and the PLC are not directly part of the Saudi-Houthi talks. The PLC was created to solidify the anti-Houthi bloc but has been beset by differences among Yemeni factions.

[1/2] White House National Security Advisor Jake Sullivan speaks during a daily press briefing at the White House in Washington, D.C., U.S., November 10, 2022. REUTERS/Tom BrennerWASHINGTON, April 11 (Reuters) - U.S. national security adviser Jake Sullivan spoke with Saudi Arabia's Crown Prince Mohammed bin Salman on Tuesday and discussed Iran and steps aimed at ending the war in Yemen, the White House said. The foreign ministers of Iran and Saudi Arabia met in Beijing last week after agreeing to end their diplomatic rift following years of hostility that fuelled conflicts across the Middle East. Mr. Sullivan reaffirmed President (Joe) Biden’s unwavering commitment to ensure Iran can never acquire a nuclear weapon," the White House said in a statement late on Tuesday. Yemen's war is seen as one of several proxy battles between Iran and Saudi Arabia.

☆ Yemen's slide into political crisis and war
▼ + stars: | 2023-04-11 | by ( ) www.reuters.com time to read: +5 min

* 1994: Civil war in which Saleh prevents south, angered by what it sees as its lower status, from splitting with north. The Houthis seize the capital Sanaa in September 2014 with help from Saleh and demand a share of power. * 2015: Hadi tries to announce a new federal constitution opposed by the Iran-aligned Houthis and Saleh, who arrest him. He escapes, pursued by the Houthis, triggering Saudi intervention in March at the head of a military coalition. The coalition drives the Houthis and Saleh loyalists from Aden in south Yemen and from Marib, northeast of Sanaa.

☆ Saudi, Omani delegations arrive in Sanaa to hold talks with Houthi leader
▼ + stars: | 2023-04-09 | by ( ) www.reuters.com time to read: 1 min

April 9 (Reuters) - Saudi and Omani delegations have arrived in Yemeni capital Sanaa to hold talks with the head of Yemen's Houthi Supreme Political Council, Houthi-run news agency Saba said on Sunday. Quoting a source in the Houthi presidential council, Saba said the delegations and Mahdi al-Mashat would discuss "lifting the siege with all its repercussions", an end to aggression, and the restoration of the Yemeni people's rights, including paying the salaries of all state employees from oil and gas revenue. Reporting by Hatem MaherOur Standards: The Thomson Reuters Trust Principles.

☆ Saudi, Omani envoys arrive in Sanaa for peace talks with Houthi leaders
▼ + stars: | 2023-04-09 | by ( ) www.reuters.com time to read: +2 min

The visit indicates progress in the Oman-mediated consultations between Riyadh and Sanaa, which run in parallel to U.N. peace efforts. Peace efforts have also gained momentum after arch-rivals Saudi Arabia and Iran agreed to reestablish ties in a deal brokered by China. Yemen's war is seen as one of several proxy battles between Iran and Saudi Arabia. A Houthi official said on Saturday the group had received 13 detainees released by Saudi Arabia in exchange for a Saudi detainee freed earlier, ahead of a wider prisoner exchange agreed by the warring sides. The Saudi government media office did not respond to a Reuters requests for comment on the prisoner exchange and the delegation visiting Sanaa.

☆ Houthi official says Saudi Arabia freed 13 detainees
▼ + stars: | 2023-04-08 | by ( Mohammed Alghobari | ) www.reuters.com time to read: +2 min

Aden, April 8 (Reuters) - An official of Yemen's Houthi movement said on Saturday the group had received 13 detainees released by Saudi Arabia in exchange for a Saudi detainee freed earlier, ahead of a wider prisoner exchange agreed by the warring sides. Houthi official Abdul Qader al-Mortada said on Twitter the 13 detainees had arrived in the Yemeni capital, Sanaa, which is held by the Iranian -aligned Houthi group that has been battling a military coalition led by Saudi Arabia since 2015. At talks in Switzerland last month attended by the United Nations and the International Committee of the Red Cross, Yemen's Saudi-backed government and the Houthis agreed to free 887 detainees. A visit by Saudi officials would indicate progress in Oman-mediated talks between Riyadh and the Houthis, which run in parallel to U.N. peace efforts, as well as a reduction in tensions after Saudi Arabia and Iran agreed to restore relations. The Yemen conflict is widely seen as a proxy war between Saudi Arabia and Iran.

[1/2] A military helicopter, operated by the Houthis, flies over Sanaa, Yemen September 21, 2022 for the first time since the Saudi-led coalition intervened in Yemen and controlled the country's airspace in 2015. The move signals that regional rifts are easing after rivals Saudi Arabia and Iran agreed to restore relations last month following years of hostility and backing opposite sides in Middle Eastern conflicts, including Yemen. Oman, which shares borders with Yemen, has been trying for years to bridge differences between Yemen's warring parties, and more broadly between Iran and Saudi Arabia and the United States. Saudi Arabia restarted its direct talks with the Houthi group last summer after both sides failed to renew a United Nations-brokered truce deal. Following years of a bitter rivalry and armed conflicts between Saudi Arabia and Iran, their biggest trade partner China recently stepped in to work with both sides and improve relations.

☆ Oman opens airspace, joining Saudi in Israeli airline corridor
▼ + stars: | 2023-02-23 | by ( ) www.reuters.com time to read: +2 min

DUBAI, Feb 23 (Reuters) - Oman's Civil Aviation Authority (CAA) on Thursday said the Gulf Arab state's airspace will be open for all civilian carriers, a move that would enable Israeli airlines to utilise a Saudi-Oman corridor to cut flight times to Asia. Saudi Arabia, which like Oman does not have formal ties with Israel, last summer said it would open its airspace to all air carriers, but Israeli officials had said the corridor could not be implemented until Oman consented. Israeli Foreign Minister Eli Cohen on Thursday thanked Oman's ruler Sultan Haitham bin Tariq al-Said and described it as a "historic decision that will shorten the route to Asia, lower costs for Israelis and help Israeli airlines be more competitive". Israeli flag carrier El Al (ELAL.TA) said that beyond shortening current flight times, it would now examine opening new routes to Australia and restarting flights to India. Israel's foreign ministry said the corridor would shorten the flight route by more than two hours to some Asian destinations.

☆ Oman's drilling services firm Abraj plans March listing on Muscat exchange
▼ + stars: | 2023-01-22 | by ( ) www.reuters.com time to read: +2 min

Jan 22 (Reuters) - Oman's oil and gas drilling services firm Abraj Energy Services plans to list up to 49% of its shares on the Muscat stock exchange in March through an initial public offering (IPO), a company statement said on Sunday. The IPO forms part of an exit plan recently announced by sovereign wealth fund, the Oman Investment Authority (OIA), the state news agency said. State energy company OQ, the selling shareholder, is wholly-owned by the OIA, which expects to exit eight investments in 2023 to generate about $1.3 billion. A diversified oil and gas services firm, Abraj is the largest drilling contractor in Oman with a market share of almost 30 percent. States such as Qatar and Oman are now seeking to capitalise on investor appetite for Gulf IPOs and compete with more active regional exchanges.

☆ Saudi shares make positive start to 2023
▼ + stars: | 2023-01-01 | by ( Shamsuddin Mohd | ) www.reuters.com time to read: +1 min

Jan 1 (Reuters) - Saudi Arabia's stock market rose on Sunday, starting 2023 on a positive note in line with the country's economic forecast, while region's other major markets were closed and many investors absent because of year-end holidays. The kingdom approved a 1.114 trillion riyal ($296.39 billion)- budget for 2023, forecasting a surplus at 0.4% of gross domestic product, down from an expected 2.6% in 2022. Saudi Arabia's benchmark index (.TASI) rose 0.7%, with oil behemoth and index heavyweight Saudi Aramco (2222.SE) increasing 0.9% and Sulaiman Al-Habib Medical Services (4013.SE) advancing 1%. In Oman, the stock index (.MSX30) gained 0.8% as Aluminium Bahrain (Alba) (ALBH.BH) jumped 3.8% while Bahrain Telecommunications (Batelco) (BTEL.BH) was up 3.2%. read more($1 = 3.7585 riyals)Reporting by Shamsuddin Mohd in Bengaluru; Editing by Alison WilliamsOur Standards: The Thomson Reuters Trust Principles.

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