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A fiscal crunch exacerbated by the pandemic and associated oil-price crash has forced the authorities to step up long-term ‘Omanisation’ efforts, ultimately taking pressure off…
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DOI: 10.1108/OXAN-DB259114
ISSN: 2633-304X
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Geographic
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The Gulf state’s finances had been under pressure for some time, with steadily rising debt levels and only fitful progress towards economic diversification. It can now look…
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DOI: 10.1108/OXAN-DB268815
ISSN: 2633-304X
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Geographic
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This comes on the back of government efforts to implement reforms, including the passage of a new labour law in July. The law aims to support growth and increase the employment…
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DOI: 10.1108/OXAN-DB281249
ISSN: 2633-304X
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Leading international credit ratings agencies had upgraded their outlook for Oman in early 2023. Positive reviews reflect the sultanate’s improved financial performance in 2022…
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DOI: 10.1108/OXAN-DB280281
ISSN: 2633-304X
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The announcement follows several investments in the sector at home and abroad by Aramco. Riyadh is doubling down on its strategy of converting an increasing proportion of its…
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DOI: 10.1108/OXAN-DB276581
ISSN: 2633-304X
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Geographic
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The SWFs of the main Gulf States oil and gas producers are stepping up their investments as the countries maximise hydrocarbon revenues and diversify their economies. The SWFs are…
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DOI: 10.1108/OXAN-DB272383
ISSN: 2633-304X
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Geographic
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Social cohesion in Oman.
The United Arab Emirates (UAE) economy is increasingly diversified, not least with the imposition of VAT since January 1 -- albeit at a low initial level of 5%. Fiscal…
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DOI: 10.1108/OXAN-DB229164
ISSN: 2633-304X
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This echoed the strategy of the sovereign wealth funds of Gulf Cooperation Council (GCC) states after the 2008 global financial crisis, but there are several key differences: GCC…
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DOI: 10.1108/OXAN-DB253419
ISSN: 2633-304X
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GCC austerity squeezing foreign workers.