Backed up by strong macroeconomic fundamentals and the sultanate’s reputation for stability and sound financial management, Oman’s banking sector has been remarkably resilient in recent years. The sector has registered good growth in the face of market volatility linked to the Arab Spring and the eurozone crisis. Going forward, banks are now entering a period of substantial change. In 2013,...
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Chapter | Banking & Islamic Finance from The Report: Oman 2013
While hydrocarbons accounted for 38.8% of the sultanate’s GDP in 2011, non-oil activities have grown by 55% from 2007 to 2011, from OR9.2bn ($24bn) to OR14.3bn ($37.7bn). Of these, the services sector has consistently been the largest category recently, hovering between a 30% and 40% share of overall GDP, with industry making up some 15-20%. However, despite the growth of non-oil activity, 2012...
Economic update | Oman: Year in Review 2012
3 Jan 2013
The Omani economy saw another good year in 2012, with high levels of growth on the back of increased hydrocarbons production and solid results from the private sector. However, unemployment remains a concern for the authorities.
Economic update | Turkey: Year in Review 2012
3 Jan 2013
After watching growth top 8% in 2010 and 2011, Turkey is now seeing its economic expansion ease amid a slowdown in growth both globally and in the eurozone, the impact of civil war in Syria and the doubling of interest rates throughout 2012. Increased focus on domestic demand and exports could see growth rebound in 2013, however.
Economic update | Abu Dhabi: Year in Review 2012
24 Dec 2012
New developments in the logistics sector, alongside an increase in non-oil trade, are expected to keep Abu Dhabi’s economy on track for moderate expansion in the coming year, with plans for further diversification set to deliver increasingly balanced growth.
Economic update | Bahrain: Year in Review 2012
20 Dec 2012
While 2012 may have been marked by an ongoing political stalemate and effects from regional and local unrest, Bahrain managed to overcome negative pressures and produce solid growth for 2012.