High capital adequacy and profitability define the banking sector in Oman. Aggregate net profits from local banks and foreign branches rose 15.6% in 2012 to $786.1m, up from $683.8m in 2011 with local banks accounting for 96.1% of the total. Consumer spending is driving lending markets as the wealth of the population increases, and banks are looking to meet this demand. New support for SMEs, an...
Oman
Displaying 781 - 786 of 977
The sultanate’s economy continues to enjoy the benefits of petroleum wealth, which has provided budget surpluses in most years and served as a backbone for growth. However, planning is well under way for an era in which oil will not be the main economic driver, with the twin goals of diversification and creating an increased number of private sector jobs at the top of the government’s current...
Chapter | Country Profile from The Report: Oman 2014
An ancient maritime power, Oman is open to the world while at the same time preserving a strong sense of tradition and culture. Its numerous land borders and extensive coastline have given leaders a knack for negotiation and pragmatism in foreign policy. The government is making efforts are to respond to the increasing need for employment caused by a rapidly growing population, many which are...
A move to relax the criteria that prospective homebuyers in Oman must meet to qualify for interest-free loans has provided low-income earners with an entry-point into the Sultanate’s real estate market.
A programme by the Omani government to pour billions into infrastructure to help support long-term economic diversification is benefiting the Sultanate’s construction sector, which will likely see its order books filled for years to come.
Economic update | Oman enhances oil production
17 Nov 2013
As Oman looks to tap further into its maturing fields, enhanced oil recovery (EOR) techniques the country has been instrumental in pioneering are playing an increasingly central role. Ensuring steady-to-rising output levels in the hydrocarbons sector will help insulate the Sultanate from the effects of any sustained decline in global oil prices.