OMAN

Oman’s OETC to invest $977.6mln million in battery energy storage projects

Oman Electricity Transmission Company (OETC), the sole owner and operator of the country’s national grid, is placing battery energy storage systems (BESS) at the centre of its long-term strategy, Fitch Ratings announced on Friday.

According to the international ratings agency, of OETC’s expanded 2026–2030 capex programme of RO 1.285 billion, around RO 376 million — nearly a third of total investment — is earmarked specifically for BESS projects.

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Oman gains strategic ground as Gulf routes come under strain, IMF says

Oman is emerging in a stronger relative position than several of its Gulf neighbours as war-related disruption hits trade, energy and transport links across the region, the International Monetary Fund said in a new regional assessment.

The IMF said the conflict, which began on February 28, has darkened the outlook for the Middle East and North Africa, cutting growth forecasts and disrupting oil production, shipping and air traffic across the Gulf. Regional growth is now expected to slow to 1.4 per cent in 2026 under the Fund’s reference scenario.

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Green aluminium projects planned in Duqm SEZ

As many as three major low-carbon aluminium projects are envisaged for implementation at the Special Economic Zone at Duqm (SEZAD) in the Sultanate of Oman, underscoring the industrial hub’s growing appeal beyond green iron and steel ventures.

According to Duqm Economist, the quarterly newsletter of the Public Authority for Special Economic Zones and Free Zones (OPAZ), the proposed projects — currently in the early stages of development — will seek to leverage green hydrogen and other low-carbon energy sources slated to come on stream in the SEZ from around 2030.

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Oman launches new $207.8mln development bond issue

The Sultanate of Oman has launched a new issuance of government development bonds aimed at raising at least RO80mn from the domestic market, as part of its ongoing funding strategy.

The Central Bank of Oman (CBO), acting on behalf of the Ministry of Finance, announced on Monday the launch of the 83rd Government Development Bonds (GDB) issue.

According to a statement issued by the CBO, the offering has a base size of RO80mn, with a green shoe option of up to RO20mn. The bonds will have a maturity of five years and carry a fixed coupon rate of 4.2% per annum.

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Oman FDI surpasses $80.5bln in 2025

The Sultanate of Oman’s foreign direct investment (FDI) stock rose by 8.1 per cent to RO 31.38 billion by the end of the fourth quarter of 2025, according to preliminary data issued by the National Centre for Statistics and Information, underscoring continued investor confidence in the economy.

The increase compares with RO 29.02 billion recorded during the same period in 2024. However, annual inflows declined to RO 2.36 billion from RO 3.56 billion a year earlier, indicating a moderation in new capital entries despite the expansion in total investment stock.

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GCC

Saudi Arabia projected third fastest-growing G20 economy in 2027: IMF

Saudi Arabia is projected to rank as the third fastest-growing economy among G20 nations in 2027, according to forecasts by the International Monetary Fund.

Based on the IMF’s World Economic Outlook for 2026-2027, Saudi Arabia is expected to remain among the fastest-growing G20 economies in 2026 with growth of 3.1%.

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GCC-Stat: GCC countries outperform global averages in sustainable development

GCC countries have achieved notable progress in the United Nations Sustainable Development Goals (SDGs), outperforming global averages, particularly in the areas of health, education, and basic services, according to data released by the Statistical Centre for the Cooperation Council for the Arab Countries of the Gulf (GCC-Stat).

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UAE economy continues global ascent with robust growth in early 2026

The UAE economy maintained its upward trajectory during the first months of 2026, supported by the strength of the financial and banking sector and rising foreign trade and investment indicators, according to official data and local and international reports.

The UAE has further reinforced its sustainable leadership at both regional and global levels, establishing itself as a model of stability and flexibility in addressing evolving challenges.

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GCC economies positioned for strong rebound in 2027, say report

GCC economies are set for a sharp rebound, with growth forecast to reach 8.5% in 2027, according to ICAEW’s latest Economic Insight Q1 2026 report, produced in partnership with Oxford Economics. 

In the near term, regional disruption is expected to weigh on activity, with GDP projected to contract by 0.2% in 2026.

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Gulf SMEs maintain growth momentum in Q1 amid tensions, says report

The small and medium‑sized enterprises (SMEs) across the Gulf region showed strong resilience through the first quarter, sustaining high levels of company formation and restructuring even as March brought renewed disruption linked to the regional tensions, according to Sovereign PPG Corporate Services, the region’s leading business formation and corporate services provider.

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