Middle East > Oman

Oman

Capital: Muscat ; GDP growth (annual %) 2016 : N/A

Demographics and reforms expected to benefit Oman’s real estate sector

While real estate transaction figures continue to reflect a additional cautious macroeconomic environment, potential reforms could pave the way for Oman’s property market to regain some of its dynamism going forward.

The price of property traded in the sultanate between January and June this year fell by 69.9% year-on-time(y-o-y) to OR1.4bn ($3.6bn), according statistics released by the government’s National Centre for Statistics and Data (NCSI). Over the same period the traded price of mortgage contracts fell by 80.7% to OR797.7m ($2.1bn), while the number of sales contracts eased by 23.9% to 30,635.
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First-quarter figures show increase in money supply at Oman’s banks

Central Bank of Oman (CBO) statistics show an upswing in money supply part the country’s banks in the initial quarter of 2017, with total deposits to conventional banks rising by 4.2% to OR19.02bn ($49.4bn), compared to increase of 2% in quarter one 2016.

The increase was supported by a 6.9% quarter-on-quarter (q-o-q) rise in government deposits to commercial banks between January and March, inclunding q-o-q expansion of 5.7% and 3% in public enterprise deposits and private sector deposits, respectively.

In a June statement, ratings agency Moody’s said that 34% of banking system deposits were made by the government and related entities over the period, citing higher oil prices as behind improved national revenues and deposit increase.
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Policy Differences Emerge Among Gulf States Days After Wooing President Trump

Cracks have appeared in a Saudi-led, US-backed anti-terrorist political and military alliance days next US President Donald J. Trump ended a historic visit to Saudi Arabia. The cracks stem from Qatar’s long-standing fundamental policy differences with Saudi Arabia and the United Arab Emirates about Iran and the role of political Islam.

The cracks emerged as the result of an anti-Qatar media and cyber campaign involving a spate of anti-Qatar articles in US and Gulf media; the blocking of Qatar-backed media websites and broadcasts in Saudi Arabia, the United Arab Emirates and Egypt; statements by prominent former US government officials; and a recent seminar by the Washington-based Foundation for the Defense of Democracies that has long asserted that Qatar supports militant groups.
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Key Facts: Full name: Sultanate of Oman
Population: 2.8 million (World Bank, 2010)
Area: 309,500 sq km (119,500 sq miles)
Major language: Arabic
Major religion: Islam
Life expectancy: 71 years (men), 76 years (women) (UN)
Monetary unit: 1 = 1000 baiza
Main export: Oil
GNI per capita: US $18,260 (World Bank, 2009)
Internet domain: .om
International dialling code: +968

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Climate change laws around the world
2017/05/14
There has been a 20-fold increase in the number of global climate change laws since 1997, according to the most comprehensive database of relevant policy and legislation.

The database, produced by the Grantham Research Institute on Climate Change and the Environment and the Sabin Center on Climate Change Law, includes more than 1,200 relevant policies across 164 countries, which account for 95% of global greenhouse gas emissions.

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Oman Year in Review 2014
2015/03/31
With earnings from oil accounting for additional than 80% of government gain, the halving of prices since June has eroded national revenue and could impact the extensive capital works programme in 2015, despite a government pledge to hike this year’s spending by 4.5% from its before plans.

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