Share this via:
Ref: AD-1879
Summary: A growing debt crisis imperils Oman’s vaunted ability to maintain neutrality in a tough neighbourhood.
D
This content is locked
Login or Register To Unlock The Content!
You might like:
- Sudan and a seven-day ceasefire
Summary: a short ceasefire that was ignored more than it was honoured is coming to an end and the prognosis for a peaceful solution remains grim unless the US and other Western nations bring pressure to bear on the states backing rival sides: Egypt and the UAE....
- Qatar crisis winding down
Summary: an unnecessary crisis, obscured by concealment and lies. With luck it may end in a fudge, but some enduring political damage....
- Religious intolerance in the MENA region and the position of Christians
Summary: like other religious minorities, Christians in the MENA region suffer from varying degrees of discrimination and persecution, from a variety of sources. HMG’s response....
- Saudi Arabia: the family
Summary: a New York Times article on the Saudi family in an age of austerity breaks new ground....
A good article. A slight correction because, just after this was published yesterday, the Sultan issued Decree 121 which mandates VAT next spring (I’m assuming a 1st of April start, though the official reports just says “within 180 days” of publication in the Gazette, which will happen on Sunday). Previously parliament had indeed recommended a delay until 2022 but the Sultan is not obliged to adhere to its advice and wisely went ahead with an early introduction. Delaying it further would have cost nearly $1bn in revenue, which would have made Oman’s financing challenge even harder. The VAT announcement likely came ahead of the marketing of bonds, which was expected a few weeks ago but now may happen in the next few days (before Standard & Poor publishes its scheduled ratings update on Friday, which might see a further downgrade to B+). News on the VAT law here: http://omannews.gov.om/NewsDescription/ArtMID/392/ArticleID/21451/VAT-To-Come-Into-Force-Within-180-Days