AGP Executive Report
Last update: 3 hours agoRegional Economic Risks: Houthi attacks and sinking ships in the Strait of Hormuz kept Gulf markets under pressure. The IMF forecasts a 4.8% contraction across GCC economies this year, as disrupted production and shipping outweigh higher energy prices. Digital Investment: Oman is courting investment in AI, data centres and cloud computing to grow its digital economy and diversify beyond hydrocarbons. Industrial Expansion: Oman Cables has started work on a third plant at Al Rusayl, investing more than RO10 million to expand capacity for energy and infrastructure projects. Energy Projects: China’s Great Wall Drilling won a five-year contract worth about $100 million for Oman’s Karim Small Fields concession; Nama has also invited bids for a geothermal project. Trade and Tourism: Oman and Pakistan pledged to deepen trade and investment ties during talks in Islamabad. Oman has also broken ground on a $15 million tourism and commercial project in Masirah.
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