Times of Oman - February 1, 2016

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MONDAY February 1, 2016 22 Rabi Al Thani 1437 AH

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FROM THE WORDS OF HIS MAJESTY THE SULTAN

On the occasion of the 28th National Day, 1998

‘His Majesty’s Wisdom’ All countries should work to fight tyranny and despotism, confront the policies of ethnic cleansing and the humiliation of human dignity. They should work, as well, to oppose the occupation of others lands and denial of legitimate rights. Also, they should strive to balance the scales of justice so that security, peace and tranquillity shall be established throughout the world.

Founded 1975 . Volume 40 No. 291 | 40 Pages . Baisas 200 . Subscription OMR63 | ISO 9001:2008 Certified Company | Chairman/Editor-in-Chief: Mohamed Issa Al Zadjali | Printed & Published by Muscat Media Group

TOP THREE INSIDE STORIES

Oman firms sending expat bosses home

N I Z WA A C C I D E N T

OMAN

Ancient Omani ruler’s tomb found in UAE

1

An archaeological team at Mleiha in Sharjah has discovered a tomb dating back to 216-215 BC, making it the oldest historical discovery that refers to Oman and also proves that the ancient Kingdom of Oman existed in the late 3rd century BC. >A2

OMAN

Companies in Oman are taking all steps,

Indonesia stops sending domestics

including cutting workforce, bonus, foreign training, air tickets to survive the downturn

2

Indonesia has stopped sending its domestic workers to Oman, according to a senior official of the Indonesian Embassy in Muscat. An Indonesian official said instead of domestic workers, they are now sending skilled workers. >A2

MARKET

Major recovery at Muscat bourse

3

Share prices on the MSM staged a major recovery, with the general index climbing by 3.25 per cent or 162.85 points to close at 5,179.36 points. The market continued its rebound journey, as a result of which investors gained OMR203 million.>B1

MORNING MINUTE

REJIMON K

reji@timesofoman.com

IRREPARABLE LOSS: Siya Sabu, the Class II Indian School Nizwa student, who died from her injuries. Photo– Supplied

‘Angel’ dies from bus crash injuries REJIMON K

reji@timesofoman.com MUSCAT: “She was like an angel for us. She was smart in studies and playful. We can’t believe even now the truth that we have lost her.” These were the words of Siya Elizabeth Sabu’s uncle who has booked tickets to travel along with her body to India. Siya Sabu, the Class II Indian School Nizwa student, died from the injuries following Thursday’s bus accident which has so far claimed six lives, including Siya’s who passed away on Sunday morning. Jaden Jaison, another Class II student, is still fighting for his life in the intensive care unit at the Nizwa Hospital. Siya, Shammas, Ruya, all

Class II students, and Deepal Seth, a teacher at the Indian school apart from two Omani drivers lost their lives in the accident. They were travelling in the bus which was returning to Nizwa after a trip from Bahala. Repatriated to India While, Shammas’ body was buried in Bisiya, a town near Nizwa, Ruya’s and Deepal’s bodies were repatriated to India on Saturday evening. “Siya’s body will be flown to India tonight from Muscat. We all are travelling with the body,” her uncle added. Meanwhile, a message to parents from the Indian School Nizwa read that the school will remain closed until February 3 to mourn the loss of three children and a teacher. >A7

MUSCAT: Companies have begun repatriating expatriates from highly-paid positions and tightening their spend on nationals as oil-driven austerity starts to dig into staff budgets. “Many companies are centralising their offices to reduce the workforce, cutting down bonuses, adjusting annual leave plans and air ticket provisions and also dropping off training opportunities abroad,” Dr Anchan CK, an investment advisor and financial expert, said. “While big companies are into austerity measures, small companies are looking for merger op-

tions to survive,” Anchan added. Due to the global oil price crisis since the middle of 2015, Oman’s government announced an OMR3.3b deficit budget in 2016 with plans to dramatically lower spending and slash subsidies. This has already seen petrol prices rise and visa fees increase with more measures expected, and so companies are planning to cut their costs to survive in 2016. Talking to Times of Oman on the condition of anonymity, two senior expatriate managers said that they were told to leave due to cost cutting measures. “I was told to quit as part of cost cutting measures. I have been a long time employee in the company. However, I don’t feel

Young BSM talents enthral visitors

A6

sad,” a general manager in one of the companies in Muscat who was forced to leave Oman a few days ago, said. Another senior manager in engineering firm also said that he was forced to leave as part of the cost cutting exercise. “The company was centralising the departments to save money. The company offered me a golden handshake and I agreed to it,” the senior manager said. According to a finance advisor in a government driven initiative, cost cutting measures have already come into effect. “This time, the plan is to cut bonus by 50 per cent for the employees. Tight control over air tickets, visa for maids and abroad training options are in place already,” the finance advisor said. Tonia Gray, general manager at Competence HR, said, “Companies have cancelled the payment of bonuses and allowances (including field/special allowances) and in some cases employees have accepted reduced pay during this time to avoid the need for redundancies. >A6


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