Oman's state-owned logistics firm Asyad Group plans to sell shares in its shipping subsidiary through an initial public offering, it said on Wednesday, as part of the Gulf country's privatisation drive.

The Galaxy Leader was taken in November 2023 at the start of the Houthi attacks on shipping in the Red Sea corridor over the Israel-Hamas war.

The two Mexicans had been held for over a year after Houthis rebels hijacked their commercial ship, the Galaxy Leader, in Yemen.

The UAE topped the Gulf Cooperation Council (GCC) countries in the 2025 Cost of Living Index, followed by Bahrain, Qatar, Saudi Arabia, Kuwait, and Oman. Oman was ranked as the most affordable GCC country.

The move aims to enhance global competitiveness of Omani industries and drive sustainable digital transformation in manufacturing

Hazy conditions are predicted on Thursday and Friday for the majority of the governorates, the Oman Meteorology said.According to the Oman Met

Beauty ecommerce giant Nykaa’s parent FSN E-Commerce Ventures has incorporated a new wholly-owned subsidiary, Nysaa Cosmetics SPC, in Oman.

The steel industry is critical to global development, driving infrastructure, manufacturing, and economic growth. Among the emerging players in this sector are Oman steel makers and Vietnam’s steel industry.

The agreement aims to create a roadmap for managing change and aligning MoHERI’s activities with Oman’s broader digital transformation goals

The new $2.6 billion Smart City in Oman challenges Dubai’s urban model with low-rise buildings and sustainable design.

Oman has achieved a remarkable improvement in its economic fundamentals. The fiscal and external positions have strengthened significantly, while nonhydrocarbon growth is picking up amid low inflation.

Asyad Group, a logistics business owned by Oman’s sovereign wealth fund, has announced plans to float its shipping unit on the Muscat stock exchange. At least 20 percent of Asyad Shipping Company will be sold in the initial public offering.