Portal:Oman


Oman

Oman, officially the Sultanate of Oman, is a country in the southeastern Arabian Peninsula in West Asia. It shares land borders with Saudi Arabia, the United Arab Emirates, and Yemen. Oman's coastline faces the Arabian Sea to the southeast and the Gulf of Oman on the northeast. The exclaves of Madha and Musandam are surrounded by the United Arab Emirates on their land borders, while Musandam's coastal boundaries are formed by the Strait of Hormuz and the Gulf of Oman. It has a population of approximately 5.46 million and an area of 315,331 km2 (121,750 sq mi). Muscat is the capital and largest city.

Oman is the oldest independent state in the Arab world, and has been continuously ruled by the Al Bu Said dynasty since 1744. Beginning in the 17th century, Oman became a regional power with an empire that competed with the Portuguese Empire and British Empire for influence in the Persian Gulf and the Indian Ocean. At its peak in the 19th century, Omani influence and control extended across the Strait of Hormuz to what later became Iran and Pakistan, and as far south as Zanzibar. In the 20th century, Oman came under the influence of the British Empire while de jure remaining sovereign.

Oman's oil reserves are ranked as the 22nd largest globally. In 2010, the United Nations Development Programme recognised Oman as the most improved country in the world in terms of development during the preceding 40 years. Less reliant on fossil fuels than other Persian Gulf states, a portion of Oman's economy involves tourism, and trade of fish, dates and other agricultural produce. The World Bank classifies Oman as a high-income economy. As of 2024, Oman ranks as the 42nd most peaceful country in the world in the Global Peace Index. (Full article...)

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The Muscat Securities Market (MSM, Arabic: سوق مسقط للأوراق المالية) is the only stock exchange in Oman. It was established by the Royal Decree (53/88) issued on 21 June 1988, to regulate and control the Omani securities market and to participate, effectively, with other organisations for setting up the infrastructure of the Sultanate's financial sector.

After ten years of continuous growth, there was a need for a better functioning of the market. Thus MSM has been restructured by two Royal Decrees (80/98) and (82/98). (Full article...)

Did you know ... -

  • ... that the expression "going round the bend" is said to come from operators stationed on Telegraph Island who were desperate to escape to India by sailing round the bend in the Strait of Hormuz?

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Nizwa is the largest city in Ad Dakhiliyah Region in Oman and was the capital of Oman proper.

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