All Countries and All Sectors

The question of how to shift the economy to be more focused on the private sector is a central government concern. In early 2018 the Ministry of Finance published its annual statement on Oman’s general budget for 2018, setting out the strategic objectives that public spending is driving towards. Among the many budgetary goals referred to in...

Final yearly results for Oman’s insurance market suggest that the sector has been growing at a subdued pace. However, upcoming regulations, such as those mandating compulsory health care insurance for Omanis and expatriates alike, and the required level of national Omanis working in the insurance sector, should help boost premium uptake and...

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...

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...

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...