Oxford Business Group launches 2012 publication on Kingdom’s economyThe massive investment Saudi Arabia is making in major developments across the sectors of its economy, including housing, transport and oil refinery projects, is given wide-ranging coverage in a new report just published by Oxford Business Group (OBG). The Report: Saudi Arabia 2012provides in-depth analysis of the…
The introduction of a real estate regulatory agency in Oman is expected to instil greater confidence among foreign investors and promote better practices in this growing segment.Early this month the Council of Ministers took a first step towards getting the agency off the ground: it directed that a committee be formed to gauge the opinions of players involved in the sector to determine exactly what…
With forecasts predicting solid economic growth in 2011 and a political system that remained stable in spite of unrest rocking much of the Middle East, Oman looks set to see increased investor interest in the coming years.GDP reached OR22.2bn ($57.67bn) in 2010, amounting to a 23.44% increase over the 2009 figure. This was particularly encouraging going into 2011, showing the Sultanate had recovered…
Oman’s economy looks set for a period of solid expansion, with the state’s pump-priming efforts of the past year having a positive impact on growth. Much of the same is expected in 2012 as the government increasing its spending to create jobs and improve key infrastructure.In late November, Oman’s minister of financial affairs and deputy chairman of the financial affairs and energy resources…
The Omani government is moving forward with plans to raise prices for natural gas in an effort to recalibrate the supply-and-demand equation, with local demand for the feedstock rising rapidly on the back of industrial expansion and domestic supplies limited.While some producers will doubtless be affected by the move, it is designed to balance the needs of industry with those of the broader economy,…
Oman’s insurance industry is about to experience a major shift in direction, with sharia-compliant products, such as takaful, set to be launched onto the market. This is part of a broader programme of reforms that are opening up the financial sector to Islamic insurers and banks.It was only in May this year that Sultan Qaboos bin Said Al Said gave approval for Islamic banks to operate in Oman, along…
Oman’s tourism industry is set to maintain its steady rate of growth over the coming decades as public and private investment in the sector helps broaden the range of facilities and improve services, though the Sultanate will have to contend with increased competition in the region as other Gulf states also seek to attract overseas visitors.The most recent study conducted by the World Travel &…
A new law in Oman that makes an exception for businesses hoping to list a smaller share of their companies on the Muscat Securities Market (MSM) will likely be passed by the end of the year.Current regulations in the Sultanate require companies that wish to go public to offload a minimum 40% stake on the market, but the new law would allow family-owned businesses to sell just 25% of their shares through…
Increased levels of public-private cooperation are likely to bring high-tech solutions and better practices to Oman’s health care sector, particularly with regard to increasing ethical standards and monitoring insurance providers.Oman’s health care system has undergone an impressive transformation over the past four decades. The first real development planning began in 1976, with a series of three,…
Oman’s economy has become more competitive in the past 12 months, according to a recent report, and is steadily making the transition from having an efficiency-driven economic base to an innovation-powered one, a process that will gain further momentum thanks to increased government budget outlays.In its latest Global Competitiveness Report, issued September 7, the World Economic Forum (WEF) ranked…
