Times of Oman - November 15, 2016

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TUESDAY November 15, 2016 15 Safar 1438 AH

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HM SENDS CONDOLENCES

FROM THE WORDS OF HIS MAJESTY THE SULTAN

MUSCAT: His Majesty Sultan Qaboos bin Said has sent a cable of condolences to the Custodian of the Two Holy Mosques King Salman bin Abdulaziz Al Saud of Saudi Arabia on the death of Prince Salman bin Fawaz bin Saud bin Abdulaziz Al Saud. In his cable, His Majesty the Sultan has expressed his sincere condolences and sympathy to King Salman, praying to Allah the Almighty to rest the deceased’s soul in peace and grant his family patience. -ONA

On the occasion of the 20th National Day, 1990

‘His Majesty’s Wisdom’ Every Omani is required today - more than at any time - to roll up his sleeves and give his devoted efforts to carrying out his duties seriously and consistently.

Founded 1975 . Volume 41 No. 221 | 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

AUDIENCE TO JOHN KERRY

TOP THREE INSIDE STORIES

HM awards civil honour to Kerry

SUPERMOON MESMERISES VIEWERS IN OMAN The brightest and biggest moon since 1948 left people awestruck as clear skies provided perfect views of the celestial phenomenon. — Ismail Al Farsi See also >A4

OMAN

His Majesty’s mural

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Want to create a mural of His Majesty the Sultan with your name? >A3

OMAN BOOST TO TIES: Yousuf bin Alawi bin Abdullah, Minister Responsi-

Red Arrows display

ble for Foreign Affairs with John Kerry, US Secretary of State. -ONA

MUSCAT: His Majesty Sultan Qaboos bin Said gave an audience to US Secretary of State John Kerry at Bait Al Barakah yesterday. During the audience, the existing cooperation between the Sultanate and the US in different fields were reviewed to achieve the common interests of the peo-

ple of two countries. Latest developments on the regional and international arenas were also discussed. His Majesty conferred Oman Civil Order of the Second Class on the US Secretary of State in recognition of his good efforts to serve the relations between the two countries.> A6

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Red Arrows will perform in Oman on November 20. >A5

MARKET

Deal for Duqm port

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Duqm authority has signed three pacts for building 4 terminals.>B1

RUPEE RAIDERS CASHING IN Dazzling lights display plan for National Day

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Flush with funds, exchange houses are wooing NRIs with unbelievable rates

REJIMON K RAHUL DAS

reji@timesofoman.com rahuldas@timesofoman.com

CHECK THE VIDEO ONLINE @TIMESTV

MUSCAT: Exchange houses in Oman have been stuck with 15 million rupees of scrapped cash and are trying to tempt NRIs go-

ing home to take it off their hands. The leading five exchange houses in the country have all reported huge stocks of the scrapped Rs500 and Rs1,000 notes. Before Indian Prime Minister Narendra Modi swung the axe on black money, exchange houses here were selling rupees at 175 rupees for every Omani rial. Now, they are selling the notes at up to 225 rupees per rial in a bid to shift stocks of the soon-to-be cancelled currency. Indians have until December 31 to deposit the notes in accounts in India, prompting some to take advantage of the deal. Dozens of currency exchange houses in the Sultanate all face the same problem – what to do with the notes. The Indian gov-

ernment scrapped the currencies on November 8, pitching India – and Indians in Oman - into temporary turmoil. “We have Indian currencies worth Rs3 million stuck in Oman,” Rajan B, general manager at Al Jadeed Exchange, confirmed. Another two money exchange houses also confirmed - on condition of anonymity – that they have at least INR4 million of notes with them in Oman. “Bare minimum we will have INR4 million with us. What can be done is a question. However, waiting for further instructions,” a money exchange house boss said. >A6


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