The year 2020 marks the 50th anniversary of the establishment of the Sultanate of Oman, making it the longest continually independent Arab country in modern history. The year also marks the passing of Sultan Qaboos bin Said Al Said, who died on 10 January. He is succeeded by his cousin and the former minister of culture, Sultan Haitham bin Tariq Al Said.
Oman was already working to diversify its economy, but the pandemic-induced disruption to oil and gas has further underscored the importance of developing a broader economic base to absorb the impacts of international crises and downturns in commodity cycles.
With the current semester winding up, many higher education institutions in the Gulf are already planning an expanded offering of courses for the next academic year – with a focus on supporting the needs of the region’s post-pandemic economy.
More than a year after the initial onset of the coronavirus pandemic, the Gulf banking sector is seeing an increase in mergers and acquisitions (M&A), as lenders continue to deal with the economic fallout.
With Saudi Arabia announcing plans to raise $55bn through its privatisation programme, Gulf countries are stepping up efforts to stimulate private investment in public assets and projects, with a view to strengthening state finances, spurring diversification and driving their respective Covid-19 recoveries.
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