Day: March 25, 2024

Muscat: The total issuance of Government Treasury Bills amounted to OMR 64 million. The value of the allotted Treasury bills amounted to OMR 16 million, for a maturity period of 28 days. The average accepted price reached OMR 99.620 for every OMR 100, and the minimum accepted price arrived at OMR 99.620 per OMR 100. The average discount rate and the average yield reached 4.95357% and 4.97247%, respectively.

Whereas, the value of the allotted Treasury bills amounted to OMR 48 million, for a maturity period of 91 days. The average accepted price reached OMR 98.722 for every OMR 100, and the minimum accepted price arrived at OMR 98.710 per OMR 100. The average discount rate and the average yield reached 5.12613% and 5.19250%, respectively.

Treasury Bills are short-term highly secured financial instruments issued by the Ministry of Finance, and they provide licensed commercial banks the opportunity to invest their surplus funds. The Central Bank of Oman (CBO) acts as the Issue Manager and provides theadded adva
ntage of ready liquidity through discounting and repurchase facilities (Repo).

It may be noted that the interest rate on the Repo operations with CBO is 6.00% while the discount rate on the Treasury Bills Discounting Facility with CBO is 6.50%.

Furthermore, Treasury Bills promote the local money market by creating a benchmark yield curve for short-term interest rates. Additionally, the Government may also resort to this instrument whenever felt necessary for financing its recurrent expenditures.

Source: Oman News Agency

JERUSALEM: Israeli occupation authorities today notified the demolition of several Palestinian-owned structures in the town of Hizma, northeast of occupied Jerusalem.

Local sources said a sizable military force raided the said town and handed over notices, ordering the demolition of several shops and commercial structures.

These policies are part of Israel’s systematic practices aimed at forcibly displacing Palestinians for the benefit of colonial expansion.

Source: Palestine News and Information Agency – WAFA

Space weather forecasters have issued a geomagnetic storm watch through today, saying an ouburst of plasma from a solar flare could interfere with radio transmissions on Earth. It could also make for great aurora viewing.

There’s no reason for the public to be concerned, according to the alert issued Saturday by NOAA’s Space Weather Prediction Center in Boulder, Colorado.

The storm could interrupt high-frequency radio transmissions, such as by aircraft trying to communicate with distant traffic control towers. Most commercial aircraft can use satellite transmission as backup, said Jonathan Lash, a forecaster at the center.

Satellite operators might have trouble tracking their spacecraft, and power grids could also see some ‘induced current’ in their lines, though nothing they can’t handle, he said.

‘For the general public, if you have clear skies at night and you are at higher latitudes, this would be a great opportunity to see the skies light up,’ Lash said.

Every 11 years, the sun’s magnetic field flip
s, meaning its north and south poles switch positions. Solar activity changes during that cycle, and it’s now near its most active, called the solar maximum.

During such times, geomagnetic storms of the type that arrived Sunday can hit Earth a few times a year, Lash said. During solar minimum, a few years may pass between storms.

In December, the biggest solar flare in years disrupted radio communications.

Source: Oman News Agency

Heavy rains and quarter-sized hail fell in Southern California as the National Weather Service predicted lightning and wind gusts approaching (97 kph) in the mountain area earlier in the day.

The California storm was moving south from the Sierra Nevada, where areas around Lake Tahoe received about a foot (30 cm) of new snow and Mammoth Mountain reported up to (45 cm) by Sunday morning. A day earlier, the resort was forced to close several ski lifts after a (147-kph) wind gust was recorded.

The National Weather Service also warned of what it called a significant winter storm over central regions of the country today.

Heavy snow is expected to spread across central and eastern Montana and expand into the northern Plains and upper Midwest through Sunday and into Monday. There is a greater than 70% chance of at least (20 centimeters) of snow moving from central South Dakota to northeastern Minnesota and northwestern Wisconsin, the weather service reported.

Source: Oman News Agency

_: The Sultanate reaffirmed in a statement released by the Ministry of Foreign Affairs its strong support for all UN resolutions pertaining to bringing about peace in the region, according to the Oman News Agency. It also emphasized the Security Council’s obligation to carry out its resolutions, safeguard civilians in the occupied Palestinian territories, and recognize the State of Palestine in compliance with international law.

The Bahraini Ministry of Foreign Affairs welcomed the UN Security Council’s decision to call for an immediate ceasefire in the Gaza Strip during Ramadan, expand the free flow of humanitarian aid to civilians, and strengthen their protection throughout the Strip.

According to the Bahraini News Agency, the Ministry renewed its call on the international community to assume its responsibilities in implementing this resolution, as it is an important step on the path to a permanent ceasefire, providing protection for civilians, and opening safe and sustainable humanitarian corridors to me
et their basic living needs, particularly food, medical and relief supplies, and rejecting forced population displacement. It commended the non-permanent members of the Security Council for proposing and supporting this resolution, led by Algeria.

The Arab League also applauded the Security Council’s accomplishment in passing a resolution 14 members supported it, with the United States abstaining that demanded an immediate ceasefire in Gaza for the first time.

Ahmed Aboul Gheit, the Secretary-General of the Arab League, confirmed that the decision was made belatedly, following over five months of heinous and violent Israeli attacks on the Gaza Strip.

Source: Jordan News Agency

Prime Minister Mostafa Madbouli chaired a meeting Sunday, at the Government Headquarters in the New Administrative Capital, to prepare for the second meeting of the Higher Council for Investment in the presence of CEO of the General Authority for Investment and Free Zones (GAFI) Hossam Heiba.

Spokesman for the Cabinet Mohamed El Homsany, stated that the meeting saw a review of several agenda items proposed for the Higher Council for Investment, which is scheduled to be chaired by President Abdel Fattah el-Sisi.

El Homsany pointed out that the topics to be discussed include reviewing the implementation of decisions from the previous meeting held in May 2023, as well as addressing several issues and draft laws intended to stimulate the investment climate, improve the business environment, and encourage investors.

Madbouli also affirmed the continuation of providing various forms of support to the private sector to enhance its contribution to economic activity, in accordance with the provisions of the state’s
economic policy document, the spokesman added.

El Homsany clarified that during the meeting, the premier emphasized the government’s determination to continue implementing the program of structural reforms for the Egyptian economy, including support for priority sectors such as industry, agriculture, tourism, telecommunications, and information technology.

Source: State Information Service Egypt