MONDAY December 5, 2016 5 Rabi Al Awal 1438 AH
FROM THE WORDS OF HIS MAJESTY THE SULTAN
To sheikhs and dignitaries of Dhofar at the conclusion of His Majesty’s Meet-the-People Tour of the country, 1995
‘His Majesty’s Wisdom’ The private sector in all countries now represents the backbone of their economy. This is so because it is capable of both determination and competition and offers a solid base for the government and the people
Founded 1975 . Volume 41 No. 236 | 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
MINISTRY
Criteria for dishdasha to be issued soon
C O N D É NA S T I N T E R NAT I O NA L LU X U RY C O N F E R E N C E
Top experts to share their vision DEEBA HASAN
deeba@timesofoman.com
Staff Reporter MUSCAT: Standardised criteria for tailoring the traditional Omani male dress, the dishdasha, is expected to be issued next week, the Ministry of Commerce and Industry said on Sunday. “To conserve the Omani identity” the ministry will declare five dresses that are commonly worn in different governorates of the Sultanate. >A6
TOP THREE INSIDE STORIES
The speakers expected to take part at Muscat event.
MUSCAT: Oman will host the Condé Nast International Luxury Conference next year, where eminent speakers such as Elie Saab, Pierre Denis from Jimmy Choo, and Giambattista Valli are expected to share their market experiences. The conference will include a formal on-stage programme including talks, keynote addresses, and interviews with creative and business speakers, as well as social events of the highest calibre,
enabling attendees to make the most of their time. To be held on April 5 and 6, 2017 at the Shangri-La Barr Al Jissah Resort and Spa, the event will also include three speakers from Oman: Sayyid Badr Al Busaidi, Amal Al Raisi, a prominent fashion designer, and David Crickmore, chief executive of Amouage, the Oman-based luxury fragrance company. Launched in 2015 in Florence, the Condé Nast International Luxury Conference is a unique event from the most influential multimedia company in the world. >A6
OMAN
Omani twins launch app dedicated to HM
1
A day before Oman’s 45th National Day in 2015, two young Omani twins were featured in Oman Pride for their mobile application dedicated to His Majesty the Sultan. The app gave users a treasure chest of information regarding His Majesty. >A4
PAKISTAN
MARKET
Rupee recovers after crackdown
Oman-Brunei to boost trade opportunities
Pakistani rupee has recovered its value by up to Rs2 a dollar after the government started a crackdown on smugglers.>A10
2
The second Oman Brunei summit opened yesterday, with officials from both Oman and Brunei highlighting potentials. >B1
enough, I believe we are heading in the right direction,” he said. Members of OPEC meeting last week in Vienna decided that a combined output cut of 1.2 million barrels per day will be worked out by the group, in a bid to reduce glut and ramp up prices. The production cuts are expected to take effect by January 2017. OPEC hopes that non-OPEC members will contribute another 600,000 barrels per day in output cuts. According to Rumhy, production cuts will help increase oil revenue and, therefore, will have no effect on oil and gas jobs in Oman. He also noted that the budgeted oil price for 2017 must remain the same as 2016. “Although it is for the Ministry of Finance to decide, I believe the budgeted price of oil must remain at $45, the same as in
2016. If oil prices increase, it is an added benefit for Oman,” he said. According to an official of a private company in Brunei, oil and gas prices operate on supply and demand, and any cut in supply by OPEC will lead to higher prices. Kanaga Sundar, Head of Research at Gulf Baader Capital Markets, said that the global oil market would balance sooner than estimated during early 2017 and the oil prices may reach closer to the $60 level if the output cut deal goes through with strict compliance from the OPEC members. “We have seen a more than 15% increase in global oil prices after the OPEC announcement and non-OPEC members cutting supply ensuring prices above $60 per barrel during the coming months,” he said. >A6
3
OMAN TO SUPPORT OIL OUTPUT CUTS The only way out I see is production cuts, as the market is still over-supplied. Although a cut of 1.2 million barrels a day won’t be enough, I believe we are heading in the right direction Mohammed Al Rumhy Minister of Oil and Gas
1m
The percentage cut will depend on the result of the Vienna meeting, says Al Rumhy
SYED HAITHAM HASAN
haitham@timesofoman.com MUSCAT: Oman will support any production cut planned by OPEC, according to the Sultanate’s Minister for Oil and Gas. Dr Mohammed Al Rumhy, Minister of Oil and Gas, speaking at the Oman - Brunei joint energy and industry summit, said Oman has been invited to Vienna to discuss production cuts with OPEC members.
“We will discuss the terms and conditions of a production freeze or cut with other countries. Oman will co-operate to achieve the planned target. Our percentage decrease in production will depend on the meeting and how much we are asked to cut,” he said. The minister said he believed a proposed daily cut of 1.2 million barrels would not be enough, but was “heading in the right direction”. OPEC hopes choking back pro-
barrel oil is being pumped out by the Sultanate per day for the first time in 2016
duction will result in a price boost for oil in the market. The Sultanate’s economy has been hit hard by falling oil prices in recent months. OPEC members are set to meet non-OPEC members on December 10th in Vienna to discuss terms and conditions of the cuts in output. Oman is the largest non-OPEC
oil producer in the Middle East, pumping one million barrels per day, on an average. Al Rumhy added that production cuts were the only way to move beyond current low oil prices. “The only way out I see is production cuts, as the market is still over-supplied. Although a cut of 1.2 million barrels a day won’t be
R A R I T Y O F O M A N I G R A D UAT E
e - S E RV I C E S P O R TA L
Expat teachers fill quality gap in schools as Omanisation dips and death of Omani teachers, some local teachers want to enjoy retirement advantages after completing the minimum years of service, which is contributing to the decline of Omanisation among teachers, the report pointed out.
HASSAN SHABAN AL LAWATI
hasan@timesofoman.com MUSCAT: There are more expatriate teachers working in Oman’s schools due to the “rarity of Omani graduates in some majors,” according to the ‘Education Indicators’ report released by the Education Council. The Omanisation rate in the education sector was 6.5 per cent lower last year, when compared with the 2010/2011 rate. The Omanisation rate was 89.2 per cent in public schools in the educational year 2010/2011, but fell to 83.4 per cent in 2014/2015, a decrease of 1.76 per cent per year. The decline was far higher in private education institutes; the Omanisation rate in these institutions fell to 25.6 per cent last year, from 38 per cent in 2010/2011. The report stated that while the number of expatriate teachers rose steadily in 2014/2015, the number
Now, renew Pakistani passport online
The decline was far higher in private education institutes.
of Omani teachers “slightly increased.” “This resulted in a gradual decrease in Omanisation in teachers’ positions,” the report said. The decline, according to the report, is due to the “rarity of Omani graduates in some majors,” a gap that was ultimately filled with expatriate manpower. In addition to the retirement
More enrolment “Moreover, more students are being enrolled yearly in the Sultanate’s schools, hence, more teachers are needed,” the report argued. Despite these factors, the Omanisation rate is expected to spike in the coming years, thanks to teacher development and training programmes, according to the Education Council. Further, a retired Arabic teacher argued that expatriate teachers are more qualified, as higher education in the country is “not good enough to develop teachers.” “I encourage hiring of more expatriate teachers in our schools to improve the results of our students,” he stated.
Times News Service
Stage set for Oman International Motor Show
MORNING MINUTE
A3
MUSCAT: In a move to reduce long queues within the embassy premises, the Pakistan Embassy in Muscat has launched a system to renew passports online through its e-services portal. Pakistani nationals who already hold machine-readable passports can use the system to renew their passports online, Naheed Naveed Atif, deputy head of the mission at the Pakistan Embassy in Muscat, said in a statement . Pakistani expats expect that the new facility will not only help reduce the rush of applicants visiting the mission, but also help solve parking problems near the embassy. “Some days it is so busy that we have to wait for hours to renew our passports,” a resident said. >A6