Economy

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...

Peru’s continent-leading growth over the last several years has caused Lima’s art scene to flourish. As the art market has expanded and public interest in contemporary art has grown, the capital’s art institutions have made an effort to elevate the city’s status in the global art world. Lima’s leading galleries now show local and international artists at the world’s most prominent art fairs. A...

While the Superintendency of Banking, Insurance and Pension Funds (Superintendencia de Banca, Seguros y Administradoras de Fondos de Pensiones [AFP], SBS) has spent the past year implementing reforms aimed at increasing competition in the sector, fund managers are eager to see the second stage focusing on investment regulation.