Oman to establish new body to manage public assets

The Oman government is to set up a new body to manage the country’s public assets, replacing its sovereign wealth funds. The Oman Investment Authority was announced on state TV by way of a decree issued by Sultan Haitham bin Tariq al-Said. It will own all public assets, save for the Petroleum Development Oman company and any government stakes in international companies or institutions. Oman currently has two sovereign wealth funds – the State General Reserve Fund and the Oman Investment Fund, which are estimated to have $14 billion dollars and $3.4 billion of assets under management respectively. Both funds will now be incorporated into the new authority as will any employees. The board members for the Oman Investment Authority will be appointed by Sultan Haitham and the body will be supervised by the Council of Ministers. The Institute of International Finance, a global trade group for financial institutions, has stated that Oman’s economy, weakened by the Covid-19 pandemic and low oil prices, could contract by 5.3% this year while its deficit could widen to 16.1% from 9.4% in 2019. © 2020 funds global mena


Change brings progress and long-term opportunities in Saudi Arabia

Saudi_ArabiaNaomi Waistell, an emerging markets fund manager at Polar Capital, analyses change in Saudi Arabia – a hydrocarbon country with green ambitions and which is set on a major economic...

New income streams

Romil_PatelAlthough it is awash with oil and, therefore, capital, the Gulf region is at a critical juncture: it must diversify its...

Executive Interviews

INTERVIEW: ‘Financing is the blood of Iran’s economy’

Amid a fresh wave of American sanctions, Romil Patel spoke to Meysam Hamedi, director of financial markets and instruments at Iran’s Securities & Exchange Organization (SEO).

INTERVIEW: Totally mega

In 2016, global consulting firm PWC forecast the emergence of five global ‘megatrends’ in the next two decades. Stephen Anderson, its Middle East clients and markets leader, talks about their...

INTERVIEW: Protecting the investment

Rasmala’s trade finance fund recently passed $100 million in assets. Doug Bitcon, head of credit strategies, explains why he has to be hands-on.

EXECUTIVE INTERVIEW: A natural interest in the topic

Since 2016, Guillermo Ortiz has been a chairman of Latin America’s BTG Pactual. The former central banker of Mexico talks to Nick Fitzpatrick.


Middle East Investor Roundtable 2020: Dimensions of diversification

Investors in the Middle East consider the tools that will be needed to navigate the Covid-19 crisis, the continued appetite for dividend and why it’s all about tech. Chaired by Romil Patel.

South Africa asset management roundtable: Global rebound on ice

Experts discuss the investment implications of the coronavirus pandemic, a delayed rebound in global growth and dealing with South Africa’s energy issues head on. Chaired by Romil Patel in Cape Town.

South African roundtable: Taking the bull by the horns

Our panel discusses Chinese investment in Africa, financial institutions’ contribution to economic sustainability and regulatory concerns. Chaired by Romil Patel in Cape Town.

ROUNDTABLE: Hooked to the global caravan

With the MENA region at a tipping point, our panellists talk about economic diversification, the impact of regulation and the delayed Saudi Aramco listing. Chaired by Romil Patel in Dubai.