The Middle East

The issue of Omanisation – which refers to the initiative to increase the percentage of nationals in Oman’s workforce – has a considerable pedigree. The concept was first introduced in 1988 as a means to reduce the nation’s reliance on expatriates in key areas of economic activity, such as the oil and gas sector. Over time, most private sector...

Oman’s banking sector has weathered the economic downturn resulting from the 2014-15 hydrocarbons price crash without a significant erosion in asset quality and returned to its long-term trend of deposit and loan growth. As a result of firmer oil prices and a broadly positive outlook for the sultanate’s economy, the industry is preparing for a...

In January 2018 Oman issued its largest-ever bond in the international market as investor confidence increased amid rising oil prices. The $6.5bn bond attracted orders worth $15bn as the price for Brent crude oil rose from lows of $45 per barrel in June 2017 to $69 on January 31, 2018. The bond was sold in three tranches: the five-year tranche...

Located in the south-eastern quarter of the Arabian Peninsula, Oman is the only member of the GCC situated outside of the Gulf. Leveraging its strategic location, Oman has invested in infrastructure with the goal of becoming a global logistics centre. While the country is less hydrocarbons-rich than its GCC neighbours, diversification efforts...