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Oman eyes tourism, tech as it seeks emerging market status

Oman’s Muscat Stock Exchange is preparing for up to three IPOs in 2026 as part of efforts to boost listings and pursue emerging market status.

Working with the Oman Investment Authority, the bourse aims to bring new sectors like tourism and information technology to market, with companies such as Oman India Fertiliser considering IPOs. 

Fundraising has slowed this year after a record $2.5 billion in 2023, but the government is offering incentives such as tax waivers and priority in tenders to attract private firms, the exchange’s CEO, Haitham Al Salmi, told Bloomberg. 

The planned merger of Oman’s Sohar International Bank and Ahli Bank is seen as crucial to market capitalization, though the exchange is also exploring consolidation or group listings as alternatives.

“We understand how important this merger is, but we also have Plan B and C,” Al Salmi said.

Etihad to launch passenger train service in 2026 traversing UAE

Etihad Rail’s UAE-wide passenger train service will launch next year, the company has confirmed.

The news will be welcomed by residents across the country, who have been eagerly awaiting the passenger line since plans were unveiled in 2021.

It was revealed in January that the first four passenger stations would be in Abu Dhabi, Dubai, Sharjah and Fujairah, but details of their locations have not yet been officially confirmed.

The Dubai station is believed to be near Jumeirah Golf Estates, The National reported.

The first passenger train is separate from the high-speed passenger train announced in January, which will operate a service between Abu Dhabi and Dubai with its own set of stations.