Flash floods have killed 10 people across Oman as heavy rains lashed the sultanate over the Eid holidays, damaging public infrastructure and private property, stateFlash floods have killed 10 people across Oman as heavy rains lashed the sultanate over the Eid holidays, damaging public infrastructure and private property, state

Insurers set for payout as Oman floods kill 10

2026/03/24 19:14
2 min read
For feedback or concerns regarding this content, please contact us at crypto.news@mexc.com
  • 200 homes destroyed across country
  • Insurers brace for possible $60m bill
  • Schools and colleges closed

Flash floods have killed 10 people across Oman as heavy rains lashed the sultanate over the Eid holidays, damaging public infrastructure and private property, state-owned Oman TV reported. 

The ministry of commerce, industry and investment promotion estimated that insurance companies may face a bill of up to $60 million to cover the costs, the broadcaster said.

Two Indian nationals died in Al Batinah South governorate when floods trapped the vehicle in which they were travelling, according to a post on X.  

Elsewhere, rain flooded more than 200 homes and destroyed or damaged a number of electrical installations, schools, roads and businesses around the country, the Civil Defence and Ambulance Authority (CDAA) said.

“Shelters have been erected for people whose homes have been flooded and we are working with the National Committee for Emergency Management to assess the situation,” the CDAA said on its website.

The ministry of education closed schools and universities until Thursday while the manpower ministry recommended that company employees work remotely until the weekend.  

Omanis whose homes have been hit by the deluge urged the government to erect more flood protection systems.

“Oman needs to do more with flood protection,” said Harith Al Saadi, whose four-bedroom Muscat home was flooded. 

Further reading:

  • Oman’s farmers demand dams to protect livelihoods
  • Almost one year after floods, UAE insurance costs keep surging
  • Nasser Saidi: The Gulf superstorm is a climate change omen

Last year, Oman borrowed $630 million from the Saudi Arabia-based Islamic Development Bank to build flood protection gates and dams across the country, AGBI reported. 

In 2024, 17 people died in flash floods in Oman triggered by the heaviest rains on record, causing billions of dollars of damage and hitting the neighbouring UAE.

Oman, which lies outside the Arabian Gulf on the Arabian Sea and Indian Ocean, is prone to regular torrential rains, strong winds and heavy seas. In 2007, Cyclone Gonu killed 50 people in the sultanate and caused $4.2 billion in damage. 

Market Opportunity
PUBLIC Logo
PUBLIC Price(PUBLIC)
$0.01553
$0.01553$0.01553
+0.12%
USD
PUBLIC (PUBLIC) Live Price Chart
Disclaimer: The articles reposted on this site are sourced from public platforms and are provided for informational purposes only. They do not necessarily reflect the views of MEXC. All rights remain with the original authors. If you believe any content infringes on third-party rights, please contact crypto.news@mexc.com for removal. MEXC makes no guarantees regarding the accuracy, completeness, or timeliness of the content and is not responsible for any actions taken based on the information provided. The content does not constitute financial, legal, or other professional advice, nor should it be considered a recommendation or endorsement by MEXC.

You May Also Like

The Channel Factories We’ve Been Waiting For

The Channel Factories We’ve Been Waiting For

The post The Channel Factories We’ve Been Waiting For appeared on BitcoinEthereumNews.com. Visions of future technology are often prescient about the broad strokes while flubbing the details. The tablets in “2001: A Space Odyssey” do indeed look like iPads, but you never see the astronauts paying for subscriptions or wasting hours on Candy Crush.  Channel factories are one vision that arose early in the history of the Lightning Network to address some challenges that Lightning has faced from the beginning. Despite having grown to become Bitcoin’s most successful layer-2 scaling solution, with instant and low-fee payments, Lightning’s scale is limited by its reliance on payment channels. Although Lightning shifts most transactions off-chain, each payment channel still requires an on-chain transaction to open and (usually) another to close. As adoption grows, pressure on the blockchain grows with it. The need for a more scalable approach to managing channels is clear. Channel factories were supposed to meet this need, but where are they? In 2025, subnetworks are emerging that revive the impetus of channel factories with some new details that vastly increase their potential. They are natively interoperable with Lightning and achieve greater scale by allowing a group of participants to open a shared multisig UTXO and create multiple bilateral channels, which reduces the number of on-chain transactions and improves capital efficiency. Achieving greater scale by reducing complexity, Ark and Spark perform the same function as traditional channel factories with new designs and additional capabilities based on shared UTXOs.  Channel Factories 101 Channel factories have been around since the inception of Lightning. A factory is a multiparty contract where multiple users (not just two, as in a Dryja-Poon channel) cooperatively lock funds in a single multisig UTXO. They can open, close and update channels off-chain without updating the blockchain for each operation. Only when participants leave or the factory dissolves is an on-chain transaction…
Share
BitcoinEthereumNews2025/09/18 00:09
Trump sets stage for a 'post-America world': NYT reporter

Trump sets stage for a 'post-America world': NYT reporter

When Joe Biden was elected president, he frequently asserted that “America was back” and collaborating with allies again. But the fact that the United States would
Share
Alternet2026/03/24 23:03
Ledger Secures $50M in Strategic Secondary Share Sale, Bolstering Crypto Security Leadership

Ledger Secures $50M in Strategic Secondary Share Sale, Bolstering Crypto Security Leadership

BitcoinWorld Ledger Secures $50M in Strategic Secondary Share Sale, Bolstering Crypto Security Leadership In a significant move within the cryptocurrency security
Share
bitcoinworld2026/03/24 23:15