National Gas commenced its liquefied petroleum gas (LPG) bottling operations in 1981 and is currently engaged in the selling of LPG cylinders for retail consumption. In 2012 the company, through an indirect subsidiary, acquired Shell Malaysia’s LPG assets and business in West Malaysia. The company’s largest shareholder is the A’Sharqiya Investment Holding Company, which...
The burgeoning Islamic financial services (IFS) industry in Oman is expected to have a major impact on the domestic banking sector and the economy as a whole in the coming years. Since the launch of the country’s first sharia-compliant bank in late 2012, the sector has grown rapidly. As of September 2014 the sultanate was home to two full-fledged Islamic banks, Bank...
The banking sector posted solid growth in 2013 and the first half of 2014, on the back of improving asset quality, coverage and capital adequacy, a burgeoning Islamic banking segment and significant expansion in the economy. The industry comprises 16 conventional commercial banks – including seven local and nine foreign institutions – as well as two sharia-compliant...
In an effort to reduce state expenditure and boost revenues, the government recently announced a plan to sell shares in a wide variety of state-owned entities in the coming years. The privatisation effort, which could eventually result in the transference of a substantial percentage of more than 60 state-held firms to public ownership, is widely expected to have a...
While non-oil economic activity has accounted for a steadily increasing percentage of Oman’s GDP in recent years, the oil and gas industry remains a vital component of the sultanate’s economy. Despite the fact that the country’s hydrocarbons reserves are smaller and generally harder to access than in many other nations in the GCC region, the industry is widely regarded...
In 2013 and the first half of 2014 Oman’s economy continued to expand on the back of rising public and private investment, strong oil and gas revenues and steadily increasing levels of non-oil activity. According to data published by the IMF – Oman’s National Centre for Statistics and Information (NCSI) does not regularly release inflation-adjusted GDP numbers – real GDP...
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