WEDNESDAY
March 23, 2016 14 Jumada Al Thani 1437 AH
FROM THE WORDS OF HIS MAJESTY THE SULTAN
At the Opening Ceremony of the State Consultative Council at Al Alam Palace in Muscat, 1990
‘His Majesty’s Wisdom’ The role being played by your Council is acquiring growing significance at the present stage and that makes it necessary for the Council, more than at any time before, to participate in shouldering the burdens and responsibilities of the new stage to achieve the progress and growth we cherish for Oman.
Founded 1975 . Volume 41 No. 26
| 48 Pages . Baisas 200 . Subscription OMR63 | ISO 9001:2008 Certified Company | Chairman/Editor-in-Chief: Mohamed Issa Al Zadjali | Printed & Published by Muscat Media Group
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HM sends greetings MUSCAT His Majesty Sultan Qaboos bin Said has sent a cable of congratulations to President Dr. Hassan Rouhani of the Islamic Republic of Iran on the occasion of the new Iranian year “Nayrouz Day.” >A6
MORNING MINUTE
Warning that oil will stay low for two years MOBIN MATHEW BLESSON
mobinmathew@timesofoman.com MUSCAT: A warning that oil prices will stay low for ‘next year or two’ has been issued by the chief economist of a global investment house while in Oman. With oil prices plummeting globally over the past year,
the Sultanate’s finances have taken a hammering, forcing the government to embrace austerity measures such as freezing some employee benefits in state-run companies and increasing fuel prices. Fees for government services have increased, and more increases are likely, while Income Tax for com-
panies based in Oman is to be raised, and the Sultanate is moving towards introducing Value Added Tax (VAT) on goods for sale, along with other Gulf countries, in 2018 or 2019. Earlier this week, Oman’s Minister of Oil and Gas Dr Mohammed bin Hamad Al Rumhy, said he hoped crude
oil prices could recover by the end of this year if a meeting of Opec and non-Opec members scheduled to take place in Qatari capital Doha next month decides to freeze output. However, speaking on the sidelines of the Coinvestment Roundtable of Sovereign and Pension
Funds (CROSAPF) Working Committee here in Oman on Tuesday, John Greenwood, chief economist of Invesco, which represents hundreds of clients in 20 countries around the globe, said: “It is very hard to see the oil price picking up in the next year or two; it will take longer than we thought.” >A6
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TOP THREE INSIDE STORIES
OMAN
Attestation needed for all educational certificates
4.3 Richter scale earthquake off Salalah coast
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Earthquake measuring 4.3 on Richter scale occurred in the Arabian Sea near Salalah coast on Tuesday morning, according to official at Sultan Qaboos University Earthquake Monitoring Centre. >A3
OMAN
OMAN
Reckless driving
High-speed Internet
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There has been rise in reckless driving in Oman, says a new survey. >A4
MORNING MINUTE
High-speed Internet service Awasr officially launched.>A5
FAHAD AL GHADANI
fahadnews@timesofoman.com
30 killed in Brussels attacks; Omanis safe
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MUSCAT: All educational certificates need to be attested by the Ministry of Higher Education before someone joins a job in the private or public sector in Oman, the Ministry of Higher Educa-
tion (MoHE) said on Monday. The rule applies to expatriates working in Oman, as well as Omanis, who have overseas education certificates. Speaking to the Times of Oman, a MoHE official said they were forced to issue a reminder as a large number of companies have tended to flout this rule. >A6