Times of Oman

Page 1

32 17

6 085010 120010

GOLDEN DAY FOR OMAN AT GCC WOMEN’S GAMES Friday the 13th turned out to be one of the luckiest days for Oman sports as the Omani girls turned it into a golden day for the hosts at the GCC Women’s Games. Buthaina Al Yaqoobi and Fatma Al Nabhani, bagged two gold medals each. >A 11

SATURDAY, March 14, 2015 /23 Jumada Al Ula 1436 AH timesofoman.com

SHARM EL-SHEIKH FORUM

Oman pledges to give $500m in aid to Egypt CAIRO: Oman pledged $500 million in grants and investment over the next five years to Egypt, Dr Yahya bin Mahfoudh Al Muntheri, State Council Chairman, said at an international conference to support the economic development of Egypt on Friday. HM’s greetings conveyed He also conveyed the greetings and best wishes of His Majesty Sultan Qaboos bin Said for the success of conference which is being held in Sharm El-Sheikh. Half of the total amount ($250 million) will be directed towards investments in projects in Egypt and the remaining $250 million is being earmarked to support the country’s financial markets. The State Council Chairman further asserted the Sultanate’s solidarity with the Arab republic, led by President Abdel Fattah Al Sisi to achieve growth and stability in the country. — With ONA inputs > A4

wtimesofoman.com

facebook.com/timesofoman

twitter.com/timesofoman

ISO 9001:2008 Certified Company

Too many graduates fight for fewer job opportunities 9,000

Experts fear the current depressing employment market will continue for the

graduates are expected to finish their studies this summer and that will inflate the number of job seekers in 2015

rest of the year in the Sultanate of Oman

SALEH AL-SHAIBANY

saleh@timesofoman.com MUSCAT: There is an excess of university graduates in Oman as too many degree holders are chasing fewer job openings, say experts and graduates. Employment specialists fear the current depressing employment market will continue for the rest of the year. According to statistics available with the Ministry of Manpower, there are over 25,000 graduates who are currently registered as job seekers. More than 70 per cent of them

have graduated with either a diploma or a bachelor’s degree. “I went for a job interview with a private company which advertised for seven vacancies and I was surprised to see over 60 candidates at the interview,” Intissar Al Hakmani, a job seeker with a degree in Business Administration, told the Times of Oman. Hamood Al Mabsali has a bachelor’s degree in Information Technology (IT) and has been looking for a job since September. He was told by a number of ministries that there were no vacancies available. “It looks like the government has stopped hiring. I contacted the

HR offices of most of the ministries and their answer is the same: No vacancy,” said Al Mabsali. Darwish bin Isma’eel bin Ali Al Balushi, Minister Responsible for Financial Affairs, told members of the Majlis Al Shura late last year that the government was freezing employment in the Civil Service in 2015 until further notice due to the drop in oil prices. Oil prices are currently trading at around $57 per barrel, well short of $85 which the government based its 2015 budget on. The government said in a press

statement released by the Ministry of Finance last January that it was targeting an average production of 990,000 barrels per day this year. The government’s revenues are estimated at OMR12.5 billion, an increase of seven per cent compared to the 2014 budget, and oil and gas revenues constitute 82 per cent of the total. “As long as oil prices are on the lower side, the government will continue to freeze employment. I honestly do not see this situation improving this year, which means it will be a hard year for graduates

looking for jobs,” said Ahmed Al Habsi, economic analyst at Capital Investment Company. Statistics show that over 9,000 graduates are expected to finish their studies this summer and that will inflate the number of job seekers in 2015. Statistics available with the Ministry of Manpower also show that the private sector has not reduced its intake of employees so far this year, but experts say it is the government freeze that has a telling effect on job creation. “The private sector is still employing people as usual, but it is the Civil Service that is putting a lot of strain on the employment of Omani graduates this year,” Maan Al Balushi, an independent financial expert, told the Times of Oman. However a government official said, “The job market will make its own adjustments and there is nothing anyone or anything can do to correct it. It is a cycle that repeats itself and it is not something we should be too concerned about.”

WEAK FINANCIALS

TOP THREE INSIDE STORIES

Air India closure talk fuels fare hike fears

OMAN

My City Centre Sur adds to retail space

1

Majid Al Futtaim—the leading shopping mall, retail and leisure pioneer across the Middle East and North Africa—revealed that the recently announced opening of My City Centre Sur, will add 16,000 square metres of gross leasable area to the country’s burgeoning retail sector. > A3

OMAN

MARKET

Oman Air tyres burst, no injuries reported

EU’s Juncker pushes for deal with Greece

2

European Union’s Chief Executive Jean-Claude Juncker and Greek Prime Minister Alexis Tsipras called on Friday for European governments to show solidarity with embattled Greece. > B1

Two tyres of Oman Air Boeing 737 flight WY A40-BV 73L travelling from Muscat to New Delhi burst soon after plane landed at the airport in New Delhi. No injuries were reported. >A3

blog.timesofoman.com

3

Times News Service

Winter blues in the serene Jebel Shams

A2

MUSCAT: Indian expatriates in Oman fear that airfares will hit the roof if Air India shuts down or cuts some of its popular routes from Muscat. The debate over Air India’s financials resurfaced after the airline was included in a list of sick units by Indian Heavy Industries and Public Enterprises Minister Anant Geete while replying to questions in the country’s Parliament. Geete said that Air India has joined the list of sick central public sector enterprises (CPSEs). Air India has accumulated huge

losses of Rs53.88 billion, Rs54.90 billion and Rs75.59 billion in the previous three financial years, respectively, according to the figures tabled in the Indian Parliament. The airline flies to more than 60 domestic and a large number of international destinations including Middle East, Asia Pacific region, Africa, Europe and North America. 24 flights from Oman From Oman, Air India operates 24 flights per week from Muscat to cities like Delhi, Mumbai and Chennai daily and thrice a week to Hyderabad and Bangalore. >A3


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.