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Omanization
The economy of Oman is mainly centered around its oil sector, with fishing and trading activities located around its coastal regions. When oil was discovered in 1964, the production and export increased significantly. The government has made plans to diversify away from oil under its privatization and Omanization policies. This has helped raise Oman's GDP per capita continuously in the past 50 years. It grew 339% in the 1960s, reaching a peak growth of 1,370% in the 1970s. Similar to the pricing of all other commodities, the price of oil is subject to significant fluctuations over time, especially those associated with the business cycle. A commodity's price will rise sharply when demand, like that for oil, outpaces supply; meanwhile, when supply outpaces demand, prices will fall. It scaled back to a modest 13% growth in the 1980s and rose again to 34% in the 1990s. Oman joined the Gulf Cooperation Council in 1981 with the aim of establishing a customs union, a common market and ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
CIA World Factbook
''The World Factbook'', also known as the ''CIA World Factbook'', is a reference resource produced by the Central Intelligence Agency (CIA) with almanac-style information about the countries of the world. The official print version is available from the Government Publishing Office. The ''Factbook'' is available in the form of a website that is partially updated every week. It is also available for download for use off-line. It provides a two- to three-page summary of the demographics, geography, communications, government, economy, and military of each of 267 international entities including U.S.-recognized countries, dependencies, and other areas in the world. ''The World Factbook'' is prepared by the CIA for the use of U.S. government officials, and its style, format, coverage, and content are primarily designed to meet their requirements. However, it is frequently used as a resource for academic research papers and news articles. As a work of the U.S. government, it i ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
Chemical & Engineering News
''Chemical & Engineering News'' (''C&EN'') is a weekly news magazine published by the American Chemical Society, providing professional and technical news and analysis in the fields of chemistry and chemical engineering.C&EN Magazine Website Chemical and Engineering News, October 12, 2009, accessed October 12, 2009 It includes information on recent news and research in these fields, career and employment information, business and industry news, government and policy news, funding in these fields, and special reports. The magazine is available to all members of the American Chemical Society. History The magazine was established in 1923,C&EN- Happy Birthday to Us, accessed O ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
Hilda Al-Hinai
Hilda al-Hinai, Arabic: هيلدا الهنائي, is an Omani diplomat and economist, who is Director of the Sultanate of Oman's delegation to the World Trade Organisation (WTO). She has been outspoken about the role of Arab countries within the WTO, and the lack of influence that all Arab states, apart from Saudi Arabia, have within it. She was chair of the working party which enabled the entry of the Seychelles Seychelles (, ; ), officially the Republic of Seychelles (french: link=no, République des Seychelles; Creole: ''La Repiblik Sesel''), is an archipelagic state consisting of 115 islands in the Indian Ocean. Its capital and largest city, ... into the WTO. During negotiations, she was praised for working for the interests of the Seychelles rather than the wider WTO organisation itself. She has previously held the role of Deputy Permanent Representative to the Permanent Mission of the Sultanate of Oman to the United Nations. Al-Hinai has spoken openly about the ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
Liberalization
Liberalization or liberalisation (British English) is a broad term that refers to the practice of making laws, systems, or opinions less severe, usually in the sense of eliminating certain government regulations or restrictions. The term is used most often in relation to economics, where it refers to economic liberalization, the removal or reduction of restrictions placed upon (a particular sphere of) economic activity. However, liberalization can also be used as a synonym for decriminalization or legalization (the act of making something legal after it used to be illegal), for example when describing drug liberalization. In economy and trade The Great Depression of 1929 made nations throughout the world realize that the wide gap between the economic theory and practice in determination of internal trade policy was the major cause of worldwide economic disaster. Therefore, a need for reviving the classical theory of trade by adhering to free trade policy was felt. The Bret ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
Muttrah Souq
Muttrah, ( ar, مطرح) administratively a wilayah (province), is located in the Muscat Governorate of Oman. Before the discovery of oil in Oman, Muttrah was the center of commerce in Oman (Muscat). It is still a center of commerce as one of the largest sea ports of the region is located there. Other landmarks include Souq Muttrah, a traditional bazaar and Sour Al-Lawatiah, a small community of houses surrounded by an old wall. To the south lies Muscat District. Demographics Muttrah had an estimated population of about 8,000 people when diplomat Edmund Roberts visited in the early 1830s. The district population was 234,225 as of the 2016 Census, up from 200,578 in 2014, making it the most densely populated district in the nation. Economy In the mid 19th century, Muttrah had a vessel repair industry. Souq Muttrah Al Dhalam (Darkness in Arabic) Souq is the local name for the Muttrah Souq. The Muttrah Souq is one of the oldest marketplaces in Oman dating back two hund ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
Common Currency
A currency union (also known as monetary union) is an intergovernmental agreement that involves two or more states sharing the same currency. These states may not necessarily have any further integration (such as an economic and monetary union, which would have, in addition, a customs union and a single market). There are three types of currency unions: * ''Informal'' – unilateral adoption of a foreign currency. * ''Formal'' – adoption of foreign currency by virtue of bilateral or multilateral agreement with the monetary authority, sometimes supplemented by issue of local currency in currency peg regime. * ''Formal with common policy'' – establishment by multiple countries of a common monetary policy and monetary authority for their common currency. The theory of the optimal currency area addresses the question of how to determine what geographical regions should share a currency in order to maximize economic efficiency. Advantages and disadvantages Implementing a new ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
Common Market
The European Economic Community (EEC) was a regional organization created by the Treaty of Rome of 1957,Today the largely rewritten treaty continues in force as the ''Treaty on the functioning of the European Union'', as renamed by the Lisbon Treaty. aiming to foster economic integration among its member states. It was subsequently renamed the European Community (EC) upon becoming integrated into the first pillar of the newly formed European Union in 1993. In the popular language, however, the singular ''European Community'' was sometimes inaccuratelly used in the wider sense of the plural ''European Communities'', in spite of the latter designation covering all the three constituent entities of the first pillar. In 2009, the EC formally ceased to exist and its institutions were directly absorbed by the EU. This made the Union the formal successor institution of the Community. The Community's initial aim was to bring about economic integration, including a common market and ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
Customs Union
A customs union is generally defined as a type of trade bloc which is composed of a free trade area with a common external tariff.GATTArticle 24 s. 8 (a) Customs unions are established through trade pacts where the participant countries set up common external trade policy (in some cases they use different import quotas). Common competition policy is also helpful to avoid ''competition deficiency''. Purposes for establishing a customs union normally include increasing economic efficiency and establishing closer political and cultural ties between the member countries. It is the third stage of economic integration. Every economic union, customs and monetary union and economic and monetary union includes a customs union. WTO definition The General Agreement on Tariffs and Trade, part of the World Trade Organization framework defines a customs union in the following way: Historical background The German Customs Union, the Zollverein, which was established in 1834, an ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
GDP Per Capita
Lists of countries by GDP per capita list the countries in the world by their gross domestic product (GDP) per capita. The lists may be based on nominal or purchasing power parity GDP. Gross national income (GNI) per capita accounts for inflows and outflows of foreign capital. Income inequality metrics measure the distribution of income between rich and poor. Lists *GDP ** List of countries by GDP (nominal) per capita ** List of countries by GDP (PPP) per capita A country's gross domestic product (GDP) at purchasing power parity (PPP) per capita is the PPP value of all final goods and services produced within an economy in a given year, divided by the average (or mid-year) population for the same ... *GNI ** List of countries by GNI (nominal) per capita ** List of countries by GNI (PPP) per capita {{DEFAULTSORT:GDP per capita Lists of countries by GDP ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
Oman
Oman ( ; ar, عُمَان ' ), officially the Sultanate of Oman ( ar, سلْطنةُ عُمان ), is an Arabian country located in southwestern Asia. It is situated on the southeastern coast of the Arabian Peninsula, and spans the mouth of the Persian Gulf. Oman shares land borders with Saudi Arabia, the United Arab Emirates, and Yemen, while sharing maritime borders with Iran and Pakistan. The coast is formed by the Arabian Sea on the southeast, and the Gulf of Oman on the northeast. The Madha and Musandam exclaves are surrounded by the United Arab Emirates on their land borders, with the Strait of Hormuz (which it shares with Iran) and the Gulf of Oman forming Musandam's coastal boundaries. Muscat is the nation's capital and largest city. From the 17th century, the Omani Sultanate was an empire, vying with the Portuguese and British empires for influence in the Persian Gulf and Indian Ocean. At its peak in the 19th century, Omani influence and control extended across ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
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