Times of Oman - January 4, 2017

Page 1

WEDNESDAY January 4, 2017 5 Rabi Al Thani 1438 AH

FROM THE WORDS OF HIS MAJESTY THE SULTAN MORNING MINUTE

On the occasion of the 26th National Day, 1996

‘His Majesty’s Wisdom’ It should be remembered that there are numerous training opportunities in both government educational establishments and in private institutes. Omani youth must take advantage of these opportunities, which open the way for them to a fruitful career.

Founded 1975 . Volume 41 No. 258 | 36 Pages . Baisas 200 . Subscription OMR63 | ISO 9001:2008 Certified Company | Chairman/Editor-in-Chief: Mohamed Issa Al Zadjali | Printed & Published by Muscat Media Group

PLENTY OF JOBS FOR OMANIS IN INDUSTRY, SAYS TANFEEDH BOSS

O P E C PAC T

Oil hits $55 for first time in 18 months

$55

SYED HAITHAM HASAN

haitham@timesofoman.com MUSCAT: Omani crude oil moved beyond $55 per barrel for the first time in 18 months, as oil producing countries see the results of OPEC’s late 2016 pact to reduce production. Omani crude futures, due for March delivery, traded at $55.04, an increase of 26 cents since last trading on the Dubai Mercantile Exchange, as compliance by oil producing countries kicked off this month. The agreement in Vienna concluded with OPEC nations and independent pro-

was the price of Omani crude oil futures for March delivery on the Dubai Mercantile Exchange

ducers of crude oil agreeing on a combined output cut of nearly 1.8 million barrels per day (bpd) beginning this month, in order to control the global supply glut that brought prices to a 15-year low. Oman’s Ministry of Oil

and Gas has pledged a production cut of 45,000 bpd. Prices have soared by 20 per cent since the agreement was announced, but experts believe economic stability would return to Oman only if this rally

is sustained by continuous price increases. “It is a great start to 2017, but it is too early to predict anything. Unless there is stability in prices, which is hard to predict, there is very little optimism,” said an economist at a leading firm in Oman. “The present oil price should sustain for at least short to medium term to have a positive impact on the economy, reducing the deficit and in achieving medium-term fiscal and economic stability, said Mohammed Nayaz, advisory partner at Ernst & Young. >A4

TOP THREE INSIDE STORIES

OMAN

Atlas hospitals in Ruwi, Ghubrah on sale

1

Two landmark hospitals in Muscat, which treat more than 1,000 patients a day, are to be sold. Atlas International for Commercial Enterprises is selling its health care divisions. >A3

WORLD

MARKET

2

3

Smog returns to China The Chinese capital was on the second-highest orange smog alert. >A10

Aquaculture projects The winners of aquaculture projects to be announced soon. >B1

Greenhouses to teach work skills to disabled

A4

Private sector can cope with 10,000s of Omanis, says leader of Tanfeedh’s labour market lab REJIMON K CHIEF REPORTER

reji@timesofoman.com MUSCAT: Ample job opportunities are available for Omanis in the private sector as the government warns public sector recruitment will be ‘very limited’ in 2017. That is the view of Shaswar Al Balushi, the head of the Tanfeedh labour market lab, who said thousands of positions currently occupied by expats should go to Omanis, provided they were ready for the challenge of working in the private sector. Al Balushi, who is also the chief executive of Oman Society of Contractors, told Times of Oman, “There are around 1.5 million expatriate workers in the private sector. Simply, there are 1.5 million job opportunities available in Oman without any investment” “Now, if we avoid half of the low level jobs from the 1.5 million, then we have 700,000 jobs available. Even if we take 10 per cent of this, there are 70,000 jobs. Only thing is that Omanis have to

If we avoid half of the low level jobs from the 1.5m expats, we have 700,000 jobs. Even if we take 10% of this, there are 70,000 jobs Shaswar Al Balushi Head of Tanfeedh labour market lab

be productive and positive so that businessmen will give them preference,” the CEO added. As the government seeks to increase the role of the private sector, Tanfeedh is being given prime focus in Oman’s budget strategy. >A6


Turn static files into dynamic content formats.

Create a flipbook
Issuu converts static files into: digital portfolios, online yearbooks, online catalogs, digital photo albums and more. Sign up and create your flipbook.