An ancient maritime power, Oman is open to the modern world but at the same time preserves a strong sense of tradition and culture. While many countries are moulded by their geography, for Oman this is especially true. In addition to the main part of its territory on the Arabian Sea, Oman also includes the tip of the Musandam Peninsula, which...
The sultanate’s economy continues to enjoy the benefits of its petroleum wealth, which has provided budget surpluses in most years and served as a backbone for growth. 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 more private sector jobs at the top of...
At a conference in Riyadh in May 2012, Abdul Latif bin Rashid Al Zayani, the secretary-general of the GCC, addressed the numerous changes that have taken place in the region in recent years. “The new political, security and military challenges – as well as insecurity in the Arab region and the changes in the regional and global forces of power...
Petroleum wealth in Oman means the government has little need to sell bonds, which is the primary reason a robust market for debt securities has yet to develop. While the sultanate does sell bonds from time to time, the amounts are usually small and there are no regular schedules for any instruments other than short-term debt used by banks to...
Ras Al Khaimah has become an important part of the UAE since the formation of the union in the early 1970s. The emirate, however, has an ancient history that goes back more than 7000 years. There are traces of human activity in the region that date back to approximately 5500 BCE, and stone implements, beads, pottery and a variety of building...
Boosting economic integration among the Gulf states has been a key component of the GCC since it was established in late May 1981. While the six states that make up the GCC have implemented joint projects in a wide variety of sectors, economic cooperation remains a core concern. Over the past three decades the region’s GDP growth rates have consistently been among the...
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