Weekly News

Oman

Opportunities

26 ~ 30 March 2017

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Duqm’s

Renaissance

Village set up to

feed thousands of

workers

Oman's

polypropylene

plant to raise

capacity to

340,000 tonnes per

annum

Oman could

overcome fiscal

challenges with

diversification:

Moody's report

Duqm free zone

completes 16 per

cent work

Oman to cut crude

supplies to Asia

by 15 per cent

Oman tourism:

Water bus service

launched in

Khasab

Oman delegation

looks to expand

trade links with

South Africa

Duqm: Oman’s first Wi-Fi friendly work camp

called the Renaissance Village in Duqm is

capable of accommodating a total of 16,200

workers, and provisions have also been made to

ensure they’re fed healthy meals on time.

Nestled within the Village’s kitchens–one of the

largest in Oman–are chapatti makers capable of

churning out 1,000 chapattis an hour. “We want

to provide the workers who will come here

healthy and nutritious meals so that they can

work at their optimum best,” said Stephen

Thomas, chief executive officer at Renaissance

Village.

“When they come here, all of their needs are

taken care of. We also have a conveyor belt line to

pack meals and send them to workers in the field,

and should any other company request us for

food, we certainly won’t turn them away because

that is something we’re looking at in the future.”

Built at a cost of OMR75 million, construction of

the Renaissance Village began in 2014 and took

30 months to complete.

With rooms for labourers , entry-level

employees, management and senior staff that

range from six-bed and four-bed dormitories to

two-man shared accommodation, single rooms,

and suites for senior staff, the complex was built

in anticipation of the large influx of manpower

Duqm will receive when construction and

economic projects under the Special Economic

Zone Authority of Duqm (SEZAD) kick into

high gear, with the government of Oman looking

to diversify its economy by 2020, under the

Sultanate’s Tanfeedh regulations.

Duqm: Duqm free zone has completed 16 per

cent of the ninth five-year infrastructure projects,

a senior official said. The five year plab is

between 2016 and 2020.

Hussein Al Zadjali, head of the Building Projects

Department at the Special Economic Zone

Authority of Duqm (Sezad ), added that Sezad is

working on the completion of infrastructure

projects during the period set for them, pointing

out that 48 per cent of these projects are currently

being implemented, while 16 per cent are in the

bidding stage and 7 per cent are in the operation

and maintenance phase, in addition to 13 per cent

that are in the stage of preparation for work

volume and bidding equipment.

He was providing an update to local English-

speaking media representatives during their visit

to Duqm.

He pointed out that the estimated cost of these

projects exceeds OMR700 million, adding that

these projects will include completion of the

remaining packages of the infrastructure projects

for the Port of Duqm. It also includes the

establishment of marine works for the fishing

harbour, as well as a number of major and

auxiliary roads, lighting and other projects.

Representatives of the media visited a number of

economic projects as part of a tour organised by

Sezad to familiarise them with the projects being

implemented in the region.

Muscat: Oman Refineries and Petroleum

Industries Company (Orpic) said that the

capacity of its polypropylene plant will be raised

to 340,000 tonnes of high quality polypropylene

per annum from 200,000 tonnes a year now.

This is considered an achievement for the

company, which started operations in 2006.

Faisal Al Hajri, Orpic's regional sales manager

for Middle East, Africa and Europe, said the

plant, which is the only one of its kind in the

Sultanate, now produces 200,000 tonnes of

polypropylene.The plant is part of the

g o v e r n m e n t ' s v i s i o n t o d e v e l o p t h e

petrochemical industry. The Sohar Refinery of

Orpic is the main supplier of raw materials used

in the production of polypropylene. It is also a

key component in the building of an integrated

local petrochemical industry. It is also part of the

efforts made by the Sultanate to diversify

sources of national income and benefit from gas

production.Orpic markets the product under the

brand name 'Luban,' the most renowned Omani

product for export in ancient times. The

production, which ranges between very soft

material and granules, is exported to 91 ports in

more than 63 countries, including the Gulf

Cooperation Council states, India, Pakistan, Sri

Lanka, Bangladesh, Middle East and North

Africa countries, China, Vietnam, Peru, South

Korea, Myanmar, the Philippines and South

Africa.Luban is used in the production of plastic

chairs, tables, carpets, packing materials, ropes,

caps, packing straps and other electrical and

home appliances. Al Hajri added that the

production currently meets 90 per cent of the

Sultanate's needs. Orpic seeks to develop the

plastics industry in the Sultanate and double its

profits by benefiting from the growing demand

for plastic.

Muscat: High per capita income and a strong

government will boost a robust economic

outlook and help Oman remain resilient in tough

financial situation, according to Annual Credit

Analysis by Moody’s.

Oman is rated Baa1 by Moody’s which

represents secure investing in the country and its

high ability to pay off debts. The stable outlook

illustrates the anticipated resilience of Oman’s

rating over the next 12-18 months and signals

the balance between upward and downward

pressure on the economy.

“Oman’s Baa1 rating with stable outlook

reflects its high wealth levels and a still

comparatively strong government balance

sheet, balanced against credit challenges,

including its heavy reliance of oil and gas

sector,” Moody’s Investor Service report said.

According to the report, positive signs for the

Sultanate would stem from faster than expected

progress in containing government fiscal

deficits and diversifying the economy away

from oil and gas.

“Although we expect government debt to rise to

Muscat: A bus that can operate on roads, as well

as in water, has begun service in Khasab.

Abdul Rahman Ahmed Almulla, General

Manager of Golden Coast Travel and Tourism

Company, said the vehicle, which moves on

water and drives on land, will cater to tourists

visiting the port city.

Khasab, located on the tip of Musandam

Peninsula in northern Oman, draws a large

number domestic as well as foreign tourists,

e s p e c i a l l y f r o m t h e U A E a n d o t h e r

neighbouring countries.

“We are charging OMR10 for adults and OMR5

for children above two years, to experience this

trip,” he said.

Known as the Norway of Arabia, the Musandam

Peninsula, where mountains appear on the

horizon at the edge of the sea, is located 570

kilometres from Muscat.

One half of the 90-minute water bus trip is on the

road and the other half in water. The vehicle was

imported from a European city and the service

launched in Khasab this month.

“It can seat 34 passengers (excluding the staff),

and can travel 100 kilometres per hour on roads

and 7 knots in water,” he said.

40 per cent of GDP by 2018 from less than 5 per

cent at the start of oil price shock, Oman’s fiscal

buffers will support the country through its

process of fiscal and external adjustments,”

Steffen Dyck, Senior Credit Officer at Moody’s

and co-author of the report said.

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Muscat: Oman will cut crude oil exports to Asia

by 15 per cent to meet local demand, the

Ministry of Oil and Gas said.

The supply cuts are expected to begin from June

this year and will partly account for the 45,000

barrels per day promised to be slashed by Oman

as a part of production cut agreement with OPEC

members.

“The Ministry of Oil and Gas has informed its

customers on contract in Asia that it will reduce

supply by 15 per cent starting in June. The

supply cut is to meet rising demand at the state

owned Sohar Refinery,” an official from the

Ministry of Oil and Gas confirmed with Times of

Oman.

Major recipient

China is the major recipient of Omani crude with

around 90 per cent crude exports from the

Sultanate reaching Chinese ports and is likely to

be the most affected by this; however, no official

statement has been made regarding buyers or

countries that will be affected due to this.

Oman’s rising domestic demand comes from a

surge of petroleum industries including the

multibillion dollar Sohar Refinery Improvement

Project that is ready to boost refined product

output by 4.2 million tonnes a year to 13 million

tonnes a year.

The improvement project by Orpic is likely to

increase the manufacturing share of the gross

domestic product as it will reduce naphtha

purchases and produce bitumen, mainly used to

manufacture asphalt, to cater to growing

infrastructure projects in the country.

Central banks of

Oman, Iran sign

agreement

Expat workers

branded as

‘absconders’ by

rogue firms in

Oman

Bank interest rates

in Oman rise on

tight liquidity

R e c r u i t e r s s a y

Omanisation drive

is working

Oman registers

16% growth in

tourist inflow

Ministry

introduces

guidelines for

adventure tourism

Capital Market

Authority cancels

three brokerage

licences in Oman

Johannesburg: The South Africa-Oman Business

Forum opened on Monday in Sandton,

Johannesburg, where both countries said they

were looking at ways of expanding trade.

Oman Commerce and Industry minister Dr. Ali

bin Masoud Al Sunaidi, who was well received in

South Africa, told a media briefing that his

country was moving away from a reliance on oil

exports.

Al Sunaidi, said Oman was looking forward to

knowledge sharing and joint investments.

“We are a net importer of food, part of our

discussion here were as a result of Oman creating

a state holding company for red and white meat,"

said the Omani minister, who was accompanied

by a business delegation.

Oman's business delegation will also hold talks

with their South African counterparts during the

two-day business forum.

Oman was historically dependent on oil, while

South Africa’s economy relied on minerals.

"Because we have water scarcity, this

interactions allows us to think of cooperation on

food production. Seasons in Asia are totally

different from the ones here ... we hope we could

complement each other in that sphere,” said Al

Sunaidi.

Muscat: Oman attracted more than 3 million

visitors in 2016, according to the annual report of

the Ministry of Tourism.

According to the report, 3,042,695 tourists

visited the Sultanate last year, 16.2 per cent more

than than the previous year’s number. The

growth is based on a well-established and

continuous development of infrastructure, in

addition to projects that boost the tourist

attraction potential of the Sultanate.

The highest growth rate of visitors came through

the cruise ships, where 217,153 tourists last year

visited the Sultanate on board of these ships,

compared to 147,858 tourists, an increase of 46.9

per cent .

The Salalah Khareef Season attracted 652,986

tourists last year, up 26.8 per cent from the

previous year, while castles and forts attracted

284,725 visitors, an increase of 14.3 per cent.

The number of visitors to Al Jabal Al Akhdhar

was 162,499, an increase of 0.3 per cent.

Water ponds in Wadi Bani Khalid attracted

156,119 visitors, up 38.3 per cent, while the Ras

Al Ginz Turtle Reserve was visited by 36,070

visitors, an increase of 17.3 per cent. The number

of hotel establishments reached 337 last year

compared to 318 in 2015 with a growth rate of 6

per cent .

Muscat: More than 80 per cent of all job

vacancies currently posted in Oman are for

Omanis only, according to recruitment agencies,

as nationals begin to reap the fruits of a

government Omanisation drive.

Data from past two years shows that nationals are

being hunted by recruiters as companies seek to

hit targets set by the government regarding

Omani staff.

Dr. Ali bin Mas’oud Al Sunaidi, Minister of

Commerce and Industry, said recently he expects

a 35 per cent Omanisation rate in most

companies, and warned that companies that do

not meet the target will “not find a friend in the

Muscat: Oman's bank interest rates have shown a

substantial year-on-year increase due to the tight

liquidity situation in the financial system.

According to the latest monthly statistics

released by the Central Bank of Oman, the

weighted average interest rate of rial Omani

deposits increased to 1.582 per cent in January

2017 from 0.948 per cent during the same period

last year. Also, the weighted average rial Omani

lending rate increased to 5.104 per cent, from

4.760 per cent during the period under review.

The Omani government has raised debt funds

f rom the domest ic marke t by way of

development bond issues in the recent past to

partially meet the budget deficit. This year, the

government plans to raise OMR600 million,

which is to partially cover the budget deficit, as

well as to repay OMR200 million towards a

maturing bond. Subsequently, the net local

borrowing is estimated at OMR400 million, and

another OMR2.1 billion in funding will come by

way of external borrowing from overseas

markets to meet the projected deficit of OMR3

billion.

This is expected to put pressure on the liquidity

within the financial system, in general, and the

banking sector, in particular. However, a major

portion of the debt fund was raised from the

overseas market, which provided relief to the

domestic financial market.

The overall deposits for financial institutions in

Oman was OMR20.6 billion, as of the end of

January, registering a growth of 6.7 per cent over

the same period last year. Private sector deposits

in the banking system rose by 5.3 per cent to

OMR13.4 billion by the end of January,

according to the latest monthly report released by

the Central Bank of Oman.

However, the total credit extended by Omani

banks, including Islamic financial institutions,

grew by 8.9 per cent year-on-year to OMR22.1

billion as of the end of January this year.

Credit to the private sector alone increased by

10.6 per cent to OMR19.9 billion by the end of

January, the report noted.

Muscat: Some rogue company bosses are

reportedly abusing the absconding worker

system for expatriate workers, say victims,

community leaders and legal advisors.

Under the system, employers in Oman can file

an absconding case against an employee if he or

she fails to turn up for work without giving any

formal notice. If an employer has to file an

absconding case, he has to approach the

authorities, including police. However,

community leaders and legal experts say that

some companies are misusing the system to

dump workers or to avoid paying overdue

salaries.

AH Raja, Vice-Chairman of Pakistan Social

Club, said some sponsors are declaring their

workers absconding if the workers ask for

pending salaries.

“Some small companies are finding it hard to

pay the salaries, and when the workers start to

demand the pending salaries, the companies will

start filing absconding cases. We are getting

these types of complaints,” the official from

Pakistan Social Club said.

Times of Oman has uncovered cases where the

employee was forced to approach authorities to

prove that he is not absconding.

Suresh Kumar (name changed) an Indian

expatriate in Oman is running from pillar to post

to find out whether his company has filed an

absconding case or not.

“When my company terminated me on baseless

reasons, I filed a case against them. When the

company officials were pulled up by the court,

they came for a compromise. Now, they are

Muscat: Oman’s central bank has signed a

memorandum of understanding (MoU) with its

counterpart in Iran.

The MoU aims at strengthening the extensive

bilateral relations, while enhancing mutual

cooperation between the two countries. It also

aims to support and develop banking, financial

and economic operations in both the Sultanate

and Iran. In addition, the articles of the MoU

covered mutual exchanges of knowledge and

expertise relating to the banking sector, and

cooperation between the two countries in

promoting bilateral and international trade.

The MoU also made reference to efforts by both

parties to facilitate exchange visits among their

top officials, implement programmes for their

Muscat: Oman’s stock market regulator Capital

Market Authority on Sunday cancelled licences

of three brokerage firms – Al Shurooq

Securities, Tawasul Financial and Investment

Services and Rasmala Investment Company.

These licences were cancelled after the

respective brokerage firms requested for the

same, according to sources at CMA.

Rasmala was taken over by the Financial

Corporation, while the other two brokerage

houses have decided to discontinue operations.

In fact, a fall in traded volumes on the Muscat

employees and enhance training methods, while

also benefitting from associated institutions,

such as the College of Banking and Financial

Studies in the Sultanate.

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bourse and other GCC markets (after a severe

drop in oil prices) has affected both revenue and

net earnings of brokerage firms. “This was in

line with the trend in GCC countries,” said a

CMA source.

Last year, the market turnover and volume

dropped as investor participation and trading

activity witnessed significant fall. The total

turnover dipped by 31 per cent to OMR959

million in 2016 from OMR1,390 million for the

previous year. The average daily turnover for

last year was OMR3.96 million, down by 29.3

per cent from OMR5.6 million in the previous

year.

The Muscat Securities Market’s average

turnover last year was the lowest in the last eight

years. Omani investors were net buyers during

the year by 9.01 per cent in terms of value of

traded securities.

With a sharp fall in traded volumes, some of the

brokerage firms were finding it difficult to

comply with the capital requirements of the

market regulator.

ready to settle the issue but they asked a little

more time claiming that they have to remove an

“absconding case” filed against me,” Suresh

said.

Muscat: A “Risk Management and Safety in

Adventure Tourism” (RMSAT) programme has

been launched by the Ministry of Tourism to

encourage adventure sports and tourism

activities in the country.

The programme is part of one of the 15

initiatives adopted by the Ministry of Tourism

(MoT) within the national programme to

promote economic diversification, which will

be followed up by implementation support and a

follow-up unit.

The programme was launched during a

presentation prepared by the ministry in

cooperation with supportadventure.co.nz,

which is supervised by the New Zealand

Government, and Maven International

Consulting Company.

During the presentation, an adventure tourism

activities guide that highlights the wadis

(valleys) was also launched.

The guide includes a description of adventure

tourism in wadis, the risk identification and

management process, the mechanism of

classifying wadis, the most prominent activities

that can be carried out in wadis, and how to

manage the r isks , teamwork, act ivi ty

practitioners, and types of equipment, accidents,

and emergencies.

Sayyid Asa'ad to

lead Oman

delegation to Arab

Summit in Jordan

Omani companies

can register online

from August

Oman, South

Africa look to

expand trade in

foodstuffsPrivatisation,

investment banks

needed for capital

market growth:

CMA chief

Licences for Brazil meat importers suspended in Oman

Ministry of Commerce and Industry.”

Most employers seem to have heeded the

message, according to recruiters, with an upsurge

in jobs and junior management roles for Omanis.

A recent freeze on government jobs in Oman has

also resulted in Omanis looking for work in the

private sector, and higher quality Omani

graduates are also driving the new hiring boom,

according to the experts.

“The number of openings for Omanis has risen

dramatically in the past two years. Before that we

had nearly 50-50 available vacancies for both

Omanis and expats but now it has changed. We

can say the percentage of Omanis required by

companies is 80 per cent of the total vacancies,”

Prabhu Shankar, Assistant General Manager at

MENA HR solutions said.

“I think Omanis have done very well recently at

colleges and therefore more companies are

willing to hire them. We have seen a rise in job

positions for nationals from nearly equal division

two years ago to around 70 per cent applications

only for Omanis. I think both Omanisation and

quality of graduates have a role to play in this,”

Farhat Shaikh from Global Elite HR solutions

and services said.

Permanent Delegate to the Arab League,

Abdullah bin Hamad Al Badi, Head of Human

Resources at the Foreign Ministry and Mubarak

bin Hamad Al Mukhaini, Head of the Arab

League Department at the Foreign Ministry.

Smart cities will be driven by needs of Oman’s

The Smart City platform is an online networking

stage where various entities, including

researchers, academicians, and government

organisations can come together to suggest the

best possible methods to develop the Muttrah

district. According to Al Shidhani, the platform

will grow and branch out to develop other cities,

such as Duqm and Sohar, where there is a

demand for smart services. “A smart city is about

people, their lives and how it can be improved.

We can use cameras to stream traffic and find out

what is the fastest route to a place. This is an

example of technology complementing human

requirements. This is what smart cities are all

about, to improve one’s standards of living. At

Microsoft, we are very well versed with this and

have some excellent solutions that can be used in

Oman,” Ahmed Raffat, technology strategist at

Microsoft, said.

Muscat: Smart cities in Oman will be driven by

the needs of residents of the country, according to

officials at the Smart City seminar held

yesterday. Based on the concept of sustainability,

efficiency and economics, smart cities are tipped

to drive high standards of living in the Sultanate.

However, in contrast to a technologically driven

industry, Omani society is likely to embrace the

concept of smart cities through consumer

demand.

“Smart cities should and will be driven by what

the citizens need,” Dr. Ali Al Shidhani, director

of research centres and ICT at The Research

Council, said.

“We are in the early planning stages of the pilot

project with various government entities,

including the Supreme Council for Planning and

the Muscat Municipality to transform the historic

city of Muttrah. This is where people require

smarter applications to improve their standard of

living,” he said, announcing details of the Smart

City platform.

Muscat: Omani companies can register

themselves online from August, officials

announced after an agreement was signed

between Data Park and the Oman Chamber of

Commerce and Industry (OCCI), which took

place at COMEX on Tuesday.

Companies will be able to register themselves,

file complaints and have access to other e-

services after an online portal by Data Park rolls

out these services in the second half of this year.

“Companies will be able to register online soon.

This process used to be done manually and

required company officials to manually submit

documents," Maqbool Al Wahaibi, chief

executive officer of Data Park Oman, said.

The process is expected to be cut short after all

necessary documents are filed on the online

portal e-service facility.

The event also saw Data Park signing an

agreement with the Hayak Water Company to

outsource management of date. Al Wahaibi

highlighted Data Park's initiatives in supplying

information technology services to Oman and

the region.

"We serve nearly 480 companies in Oman, both

small and large. We are providing different ERP

services to companies in Oman and the region.

We have corporates in Australia, Denmark and

Saudi Arabia that use our facilities," he said.

"We will manage and operate their infrastructure

on their behalf. With the chamber (OCCI), we are

developing their e-services. These services are

all related to automate services that were

manually done," Al Wahaibi added.

“We serve different sectors from banking to oil

and gas. This is just a part of one of our initiatives

to increase the electronic footprint of

government services."

JOHANNESBURG: Dr Ali bin Masoud al

Sunaidy, Minister of Commerce and Industry,

met with Rob Davies, Minister of Trade and

Industry of South Africa during his visit to South

Africa. The two sides discussed trade and

industrial relations between the two friendly

countries and means of promoting them

particularly in foodstuff industries, opportunities

of joint investment and technology transfer in

meat and vegetables processing. The two sides

also discussed projects of storing and re-

exporting foodstuff from and to Sohar Port, as

well as the potential cooperation in areas of

science, technology and logistic sector. Dr Al

Sunaidy gave a speech on trade and investment

opportunities in the Sultanate. A visual

presentation was also given on the Sultanate’s

ports and economic zones in the presence of

businessmen.

The meeting was attended by Yahya bin

Abdullah al Oraimi, Head of Economic Affairs

Sector at the Foreign Ministry, Said bin Saleh al

Kiyoumi, Chairman of Oman Chamber of

Commerce and Industry (OCCI), Mubarak bin

Salim al Zakwani, Sultanate’s Ambassador to

South Africa, businessmen from both sides and

officials representing various sectors namely

Sohar Industrial Port, Special Economic Zone

Authority at Duqm (SEZAD) and Oman Food

Investment Holding Company. — ONA

Brazilian federal police had uncovered on

March 17, an investigation into alleged

payments made to government health officials

by meat processing companies to forego

inspections and ignore abuses.

Since then, countries around the world have

banned chicken and beef imports from Brazil.

A Ministry spokesman said: “The ministry will

not issue new import licenses from Brazil and

w i l l i n v e s t i g a t e t h e c o m p a n i e s a n d

slaughterhouses who supply the products. If the

supplier is in violation, the ministry will stop

issuing import licenses for that company or

slaughterhouse completely. The ministry is

currently in contact with the Brazilian

government through official channels to get

clarity be clear about on the case.”

Muscat: Oman has suspended all new licences

for Brazilian meat importers and is currently

testing meat imports from Brazil at border

points, the Ministry of Agriculture and Fisheries

(MAF) has announced.

The Sultanate is also in discussions with the

Brazilian government over inspection of meat

factories there, the ministry added.

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Muscat: A comprehensive privatisation

programme for state-owned companies and

standalone investment banks are pre-requisites

for developing a vibrant capital market in Oman,

according to a top-level official at the Capital

Market Authority (CMA).

Although the Oman government had indicated

plans for divesting stakes in several state-owned

firms, the whole process was slow and several

companies are yet to announce a proper plan for

disinvestment.

“I don’t think we are going to see a vibrant

capital market without a comprehensive and

clear pr ivat isat ion programme by the

government,” Sheikh Abdullah bin Salim Al

Salmi, executive president of CMA, told the

Times of Oman.

Earlier, he said the market regulator would ask

the ministry to come out with a five-year plan for

disinvesting its stake in government companies

through initial public offerings. This will help

investors get clarity on the timeframe for such

investments.

“This was discussed in Tanfeedh discussions.

The authorities should come up with a five-year

programme to let the market know that the

government intends to offload its stake on

certain dates,”Al Salmi noted.

Muscat: Delegated by His Majesty Sultan

Qaboos bin Said, His Highness Sayyid Asa'ad

bin Tariq bin Taimour Al Said, Deputy Prime

Minister for International Relations and

C o o p e r a t i o n A f f a i r s a n d P e r s o n a l

Representative of His Majesty the Sultan will

leave on Tuesday for the sisterly Hashemite

Kingdom of Jordan to lead the Sultanate's

delegation in the 28th Arab Summit, scheduled

to be held in Jordan.

Sayyid Asa'ad will be accompanied by an

official delegation comprising Yousuf bin Alawi

bin Abdullah, Minister Responsible for Foreign

Affairs, Dr. Abdullah bin Mohammed Al

Sa'eedi, Minister of Legal Affairs, Dr. Fu'ad bin

Ja'afar Al Sagwani, Minister of Agriculture and

Fisheries, Khalifa bin Hamad Al Badi, Adviser

at the Office of the Personal Representative of

His Majesty the Sultan, Saif bin Ahmed Al

Sawafi, Adviser at the Office of the Personal

Representative of His Majesty the Sultan,

Khamis bin Mohammed Al Farsi, Sultanate's

Ambassador to the Hashemite Kingdom of

Jordan, Ali bin Ahmed Al Isa'ee, Sultanate's

Ambassador to the Arab Republic of Egypt, its

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Al Rafd Fund

raises funding

limit, priority for

unemployed

All development

projects in

harmony with

biodiversity

Decision on

Brazilian food

products

MUSCAT: The Al Rafd Fund has decided to

launch the second package of funding

programmes during the second half of this year.

The fund affirmed that the priority will be given

to young Omani job-seekers. The Board of

Directors of Al Rafd Fund held its first meeting

this year under the chair of Dr Ali bin Masoud al

Sunaidy, Minister of Commerce and Industry

and Board Chairman at Wadi Sharm Resort in

the Wilayat of Mahdha. The meeting reviewed

the second package of funding programme

which involved new conditions for the small and

medium industrial projects and for which a

funding ceiling of RO 200,000 was agreed.

Tourism projects will receive up to RO 150,000

in a bid to encourage job-seekers to set up

tourism businesses. On the meeting sidelines,

the board members visited the Al Rafd Fund’s

branch in the Governorate of Al Buraimi and

reviewed the work and the registered results

regarding the project finance where 40 projects

were received total finance exceeding RO 1.3

million with a repayment rate reaching 93 per

cent.

By Kabeer Yousuf — MUSCAT: March 25 – All

development projects in the Sultanate aimed to

bring a change to the tourism domain of the

region or at enhancing the infrastructure are very

much in terms with the nature, according to the

Minis ter of Tour ism. No compromise

whatsoever is made and will not be made when it

comes to nature and environment while

launching any development projects, and the

government is keen in protecting the rich

biodiversity, flora and fauna of the country, the

ministry affirmed. Talking to the Observer on the

sidelines of the recently signed RO 385 million

Qurayat ITC project announced by the Qurayat

Development Company (QDC) with Ministry of

Tourism on Thursday, Ahmed bin Nasser al

Mehrzi, Minister of Tourism, said the rich

biodiversity of the eastern coastal region is well

taken into consideration while preparing the

blueprints of the development.

“We take into consideration the environment, the

biodiversity and the natural habitats before we

initiative any development programmes. The

present project of the Ministry of Tourism with

the QDC will be a balanced development and it is

one of the strong points for development of the

Sultanate,” the minister said. Qurayat, which is a

small fishing village some 83km southeast of

Muscat, is characterised by a towering mountain

terrain with waters flowing amidst high

mountains and green patches on the sides. This

wilayat is home for Oman’s oldest mosques and

towers and forts along with other historical and

archaeological ruins some of which date back to

the prehistoric period. It is also a home for many

old aflaj that date back to the pre-Islamic period.

Plan for roll-

on/roll-off terminal

at Duqm Port in

Oman

products from Brazil which include frozen beef

and poultry, some frozen vegetables, honey and

frozen fish.

“We are reviewing the Brazilian products on

their fitness for human consumption and a

decision will be taken today after the committee

designated with the task submits its report,” Dr

Fuad bin Jaafar al Sajwani, Minister of

Agriculture and Fisheries, said.

Brazil’s meat exports have fallen sharply since a

police investigation into alleged bribery of food-

sanitation inspectors in the world’s top beef and

poultry exporter sparked a wave of trade bans.

Police have accused more than 100 people,

mostly inspectors, of taking bribes in exchange

for allowing the sale of rancid products,

falsifying export documents or failing to inspect

meatpacking plants at all.

Many countries like Chile and South Korea

suspended some imports as a “precautionary

measure” while the European Union considered

action against such companies exporting meat

products to the EU. On Saturday, China and

Egypt have lifted ban on imports.

By Kabeer Yousuf — MUSCAT: March 25 –

Oman’s Ministry of Agriculture and Fisheries

(MoAF) will review the various poultry

products from Brazil in the wake of the Brazilian

government suspending 21 Brazilian companies

for the meat corruption scandal, the Minister has

told the Observer.

The expert committee will review imported food

By Conrad Prabhu — MUSCAT: MARCH 25 –

Oman Wan Fang LLC, the Chinese consortium

behind the ambitious Sino-Omani Industry City

planned at Duqm Special Economic Zone

(SEZ), has pledged to sponsor the training and

skills development of around 1,000 young

Omanis in China.

An announcement to this effect was made by one

By Kabeer Yousuf — MUSCAT: March 26 – All

retail outlets in Oman have been asked to

provide a copy of bills in two languages to the

customers to comprehend the whereabouts of

the purchase of a product. All bills, invoices and

receipts for goods or services transacted

between the traders, retail outlets, other

commercial outlets including restaurants should

provide a bilingual bill (Arabic and English), if

not just in Arabic. The Ministry of Commerce

and Industry, Oman Chamber of Commerce and

Industry and the Public Authority for Consumer

Protection (PACP) urged the retail outlets to

abide by the rule so as discrepancies arising out

of suspected wrong billing can be kept at bay,

sources confirmed.

“Having the bills and other proofs of purchase of

By Conrad Prabhu — MUSCAT: MARCH 25 –

Port of Duqm, anchoring the giant Special

Economic Zone (SEZ) at Duqm on Oman’s

Wusta coast, plans to establish a dedicated

terminal for roll-on/roll-off (RO-RO) cargo at its

commercial quay — a move that underscores

Duqm’s potential as a hub for automotive-

related activities and RO-RO transshipment.

According to a senior port executive, a RO-RO

Terminal has now been envisioned as part of the

port’s 2.2 km-long commercial quay. It will be

located between the Multipurpose Terminal and

a pair of Container Terminals planned at the port,

said Capt Wim Aerbelien (pictured), Harbour

Master and Chief Pilot of Port of Duqm

Company.

Roll-on/roll-off cargo comprises essentially

wheeled cargo, such as automobiles, trucks,

trailers and other platform vehicles that can be

discharged from suitably designed roll-on/roll-

off ships. The dedicated facility is being created

keeping in mind, among other objectives, the

SEZ’s vision to host a major auto manufacturing

industry in Duqm. A RO-RO Terminal will also

be potentially helpful in the discharge of huge

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Mwasalat

launches new bus

route

By Staff Reporter — MUSCAT: March 25 –

Mwasalat launched its new bus route (Mabelah

– Industrial Mabelah) from Friday as part of the

company’s commitment to expand its scope of

services and expand existing routes in the

Governorate of Muscat. The company will run

the trips on the new route (to and from) every 20

minutes between 6 am- 9:20 pm (Sunday-

Thursday), and between 6:40 am — 9:20 pm

(Fridays, Saturdays and public holidays).

The new route will be as follows: (Mabelah Bus

Station – Joud Roundabout – Mabelah Zone 1 –

Khair Roundabout – Khair Street – As-Salam

Street – Industrial Mabelah Roundabout –

Industrial Area (2,4,5,6,8) – Baraka District

(1,2,3) then the return trip takes the following

route: (Khair Street – Khair Roundabout –

Mabelah Zone (1, 2) – Joud Roundabout –

Mabelah Bus Station). The company expects the

route to witness customer patronage since it

passes through one of the most vital areas in the

governorate, namely, Mabelah Industrial Area.

The fare for a single trip is 200 baisas.

Sino-Omani

industrial park

project to offer

1,000 scholarships

for Omanis

Have bilingual

bills or face action

of the consortium members at a briefing for a

group of visiting journalists at the SEZ last

week.

Maya Yang, the CEO of one of six corporations

that together constitute the Oman Wan Fang

consortium, said: “We will sponsor a total of

1,000 Omani students who will be given the

chance to study in China. After the completion

of their study, they will return to participate in

the construction of the Oman-China Investment

Park.”

Last May, the consortium signed a landmark

deal with the SEZ Authority of Duqm (SEZAD)

for the establishment of the industrial park with

an investment size billed in excess of $10

billion.

Covering an area of 1,172 hectares — the single

largest parcel of land leased to a developer — the

sprawling site will house a plethora of heavy,

medium and light industries, as well as host

substantial tourist, commercial and healthcare

components.

Mega investments are proposed to include a new

230,000 barrels per day capacity refinery, as

w e l l a s a C h i n e s e - l e d r e f i n i n g a n d

petrochemicals complex.

An initial batch of 40 Omani students, hailing

mainly from Wusta Governorate, left the

Sultanate on a two-year scholarship study at

Chinese institutions in Ningxia Province. “For

many of them, it was their first travel out of

Oman, and they were very excited,” said Maya.

In addition to Chinese and English language

training, the students will also be offered skills

that will support their long-term career

development upon their return to the Sultanate.

over-dimensioned project equipment that are

shipped on platform vehicles, such as self-

propelled modular transporters.

Already, two major auto manufacturing

i n v e s t m e n t s h a v e b e e n l i n e d u p f o r

implementation at Duqm. Karwa Motors, a joint

venture of Oman Investment Fund (OIF), a

sovereign wealth fund of the Sultanate of Oman,

and Karwa of Qatar, aims to commit RO 160

million in the establishment of a major auto

assembly plant at the SEZ. A one million sq

metre plot earmarked for the project will host a

complex with a capacity to produce around 2,000

units of buses, trucks, cars and other vehicles of

various sizes.

Oman Investment Fund is also firming up plans

to set up another auto plant at Duqm in

partnership with Iran Khodro Industrial Group,

the largest auto maker in Iran. Orchid

International Auto, the proposed JV, plans to

invest around $200 million in an export-oriented

facility at the SEZ.

Additionally, OIF is weighing other auto-related

investments in the SEZ designed to underpin the

growth of an automotive hub at Duqm.

Meanwhile, the joint venture of MSF (Portugal)

and Serka Taahhut (Turkey) is currently

undertaking the infrastructure development of

the commercial quay at Duqm Port at a cost of

$230 million.

By Lakshmi Kothaneth — MUSCAT: March 26

– A sand storm that challenges his tent, a crow

from nowhere and the dog disappearing for 24

hours – life in the Empty Quarter, Rub al Khali,

is everything but empty for the adventurer

Gauthier Toulemonde. He has been to Oman

three times and during one of those trips he

happened to buy ‘Le Desert des Deserts’ by

Wilfred Thesiger. Gauthier explained, “The

pictures were so beautiful! I said to myself-

‘This is where I want to go!’ In March 2017 his

dream became a reality. He has seen the

Sharqiya Sands and the Empty Quarter but it was

the Empty Quarter that he chose to camp for four

weeks. The Experiment with the desert by living

on his own began on March 3rd.

“Both deserts are nice but maybe the Empty

Quarter is most spectacular,” he explained. The

author of three books began his stay in the desert

with two computers, four solar panels, one

satellite phone and three cameras. According to

the adventurer, that is enough to work and to

make a movie in connection with Barasti

Productions.

Gauthier had only camped in the desert once

before, “Only one night as a tourist! But I have

spent 40 days alone on a deserted island in

Indonesia. So I do have some experience of

these kind of things.

“That is where I learnt to manage with hostile

environment: heat, snakes, scorpions, violent

storms, solitude and so on. Here, Ahmed Al

Mahrouqi gave me over three days of precious

advises. It is great to learn from the king of the

desert!”

According to Gauthier the nights in the desert

make up for the sunny days and heat of March.

He has to work in the tent nearly all day.

“Sometimes it is difficult (about 40° inside). But

at night it is a real pleasure as it is cooler and I

can watch the stars.” This is when Gauthier and

Slooki, Ahmed’s dog who has stayed back with

him in the desert go for their walks and says,

“Walking at night alone in this immensity is

great and inspiring. Slooki is a great fellow and

with her I learn from the desert and I am not

alone.

The biggest challenge according to the

adventurer is — “It is not the fact to be alone but

to support weather conditions at this time of the

year: hot, sand everywhere, strong wind. One

computer has collapsed.” Dates is definitely

part of the daily menu. “I eat mostly rice and

dates two times per day but it is enough.”

FDI in Oman

zooms to RO 7.02

billion

Muscat airport

among fastest

growing in ME

MUSCAT: Abdullah bin Salim al Mukhaini,

Secretary of the Real Estate Registry, at the

Ministry of Housing said that the value of traded

contracts during February 2017 stood at RO

218,430,701 while the collected fees amounted

to RO 5,988,916.

He added that the real estate activity involved

29,827 transactions that included sale, grant,

inheritance, exchange, mortgage and mortgage

redemption, usufruct and division transactions.

Al Mukhaini further said that the total value of

sale contracts stood at RO 87,055,000 through

5033 sale transactions at the level of the

Sultanate’s governorates while the fees

collected hit RO 3,454,827.

He pointed out that the Governorate of North Al

Batinah recorded the highest number of sale

contracts compared to other governorates during

February 2017 to 1012 sale contracts, followed

by the Governorate of Muscat with 882, South

Al Batinah with 791, Al Dakhiliyah with 647,

North Al Sharqiyah 422, Dhofar with 378 and

South Al Sharqiyah with 349 sale contracts.

Al Mukhaini added that 19,145 title deeds were

issued during February 2017 including those

1998 until 2015, reaching an all-time high of RO

1281 million in 2007.

FDI inflows to Oman in 2015 stood at $822

million in 2015 from $739 million in the

previous year, registering an increase of 11 per

cent.

FDI inflow in 2015 was 4.8 per cent of Oman’s

GDP compared to 3.3 per cent of GDP in the

previous year.

The overall balance of payments position

registered a surplus of RO 235 million during

2015 giving rise to the accretion of foreign

exchange reserves by the same amount.

As at the end of 2015, the gross foreign assets of

the Central Bank of Oman stood at RO 6,745.8

million

providing import cover for around 8 months of

merchandise goods.

Real estate

contracts value hit

RO 218m in

issued for the GCC citizens.

He further said that the total value of mortgage

contracts stood at RO 129,654,462 through

concluding 1650 contracts at the level of

governorates in the Sultanate.

He pointed out that the fees collected from

mortgage contracts hit RO 618,633.

Ministry

implements

project of aflaj

data

documentation

Gauthier begins

his final week in

the Empty Quarter

Muscat varsity to

offer right mix of

people for job

market

MUSCAT: The Min i s t ry o f Reg iona l

Municipalities and Water Resources has carried

out the implementation of the project of aflaj

data documentation. This is as per its endeavour

to ease the services and procedures in both the

municipal and water sectors. Through this

project, the ministry establishes an electronic

record for each falaj contains technical reports,

falaj specifications, falaj maintenance data, and

the spent amounts. 965507In addition, the

record includes the constructional and water

status of the falaj, maps showing tracks and the

affected parts of the falaj. The estimated number

of files to be logged and documented in the

electronic program is around 4,112 files,

covering all the three types of (live and dead)

aflaj of the Sultanate; Dawoudi, Aini and Gaili.

The project aims to achieve easy access of

specialists to each falaj data through the World

Wide Web, without the need to use the papers or

handling falaj file. It will also contribute to

shorten the time required to deal with aflaj

application, follow-up and evaluate their

maintenance. The project phases consist of the

assorting process, then documents imaging

using scanners connected to computers, and

saving attachments. Followed by logging of

required data according to specific fields in each

window. Finally, auditing is implemented to

ensure data accuracy.

By Kabeer Yousuf — MUSCAT: March 26 –

Muscat University (MU), the Sultanate’s most-

awaited higher education institution envisaged

by a group of 37 educationists and other

prominent personalities towards the idea of best

quality education institution, have vowed to

offer the best mix of manpower to fuel the

ambitious plans of the country. It was announced

by Prof Anthony Cahalan, Vice-Chancellor and

his deputies; Prof Yusra al Mouzughy, Prof

Costas Chryssou and Dr Said al Kitani, at an

event attended by Fatima Abdul Abbas al

Noorani Director General of Private Schools,

Ministry of Education at the Children’s Public

Library recently.

Accordingly, the MU will offer both Under

Graduate and Post Graduate courses in three

m a i n s t r e a m s n a m e l y, B u s i n e s s a n d

Management, Engineering and Technology, and

Transport and Logistics from Britain’s two

reputable universities; Cranfield University and

Aston University. While the UG programmes

intake was over last October, the PG will begin

by September this year, according to the

management.

“We will just be delivering high quality

workforce to fuel the ambitious growth plans of

the nation”, the management told Observer,

adding that “based on the agreements signed

between MU and each of these two universities,

MU will offer double degree programmes at

Bachelor and Masters levels and through the

concept of flying faculty.”

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goods or services in Arabic is stipulated by the

Consumer Protection Law amended in 2014

based on the Royal Decree No 66/2014 and

various articles of the law instruct all to abide by

the same,” a highly placed source at the PACP

told the Observer.

Article 15 of the law says that the consumer shall

be entitled to obtain an invoice written in Arabic

language proving the purchase of the

commodity or the receipt of the service and the

invoice shall include the basic information about

the commodity or the service and any other

information as determined by the regulations.

Article 5 has cleared that for any commodity or

service that can cause damage to the consumer

or the consumer’s property upon use; a clear and

specific warning must be given in Arabic and

English.

The warning shall indicate the correct method to

use the commodity or service and means of

remedying any damage that may result from

such use and in accordance with the regulations.

said, “We are moving to an airport which would

be six times bigger than the current one. We will

embark on major operations, considering our

current growth rate 15 per cent.”

According to National Centre for Statistics and

Information (NCSI), the number of international

flights at Muscat International Airport logged a

10.6 per cent increase by the end of February this

year, compared with the same period last year.

During the period, there were 8,141 landings

and an equal number of take-offs, as against

7,361 landings and 7,358 take-offs in the first

two months of 2016. Further, there has been a

15.5 per cent increase in the number of

passengers on international flights to and from

Muscat International Airport, with their

numbers rising to 2.04 million this year,

compared with 1.77 million recorded last year.

The total number of flights at the Muscat airport

(including international and domestic)

increased by 10.1 per cent to 17,853, while the

number of passengers rose by 15.5 per cent to

over 2.22 million during the first two months of

the current year, compared with figures for the

same period of 2016.

By Vinod Nair — MUSCAT: March 26 – Muscat

International Airport is leading in terms of

passenger traffic growth in the Middle East, as

per the statistics available for January from

Airports International Council (ACI). Muscat

was leading over its rivals with a growth rate of

14.7 per cent, to be followed by Doha with 14

per cent and Dubai at 9.7 per cent, compared

with the same period last year.

It is reported that over 48 airlines are flying from

Muscat and Salalah airports to more than 69

destinations in 32 countries around the world.

Among the rankings for top airports in Asia (in

the category for five to 15 million passengers per

year), Muscat was placed at the second position

below India’s Hyderabad airport with a growth

rate of 26.2 per cent and followed by Osaka

Itami airport with 2.6 per cent.

ACI expects international passenger traffic to

double to 14 billion by 2029, and while it may be

noted that the new Muscat airport, when

complete, will be able to handle 20 million

passengers per year against the current capacity

of 12 million passengers.

Saeed Khamis al Zadjali of Oman Airport

Management Committee (OAMC) recently,

By Samuel Kutty — MUSCAT: MARCH 26 –

Foreign direct investment (FDI) flow in the

Sultanate during the first nine months of 2016

reached RO 7.02 billion. While the United

Kingdom continues to be the top investor with a

massive RO 2.79 billion during the period, the

United Arab Emirates (UAE) and Kuwait

followed with RO 924.8 million and RO 396.1

million investments, respectively. According to

the National Centre for Statistics and

Information, the FDI during the third quarter

alone stood at RO 154 million. Analysts are

optimistic that foreign investments into the

country will witness substantial increase in the

coming years, thanks to several measures

including legislative measures being introduced

by the government.

“The new foreign capital investment law and the

broader economic diversification plans will

definitely enhance investor confidence and

provide improved business climate for attracting

foreign direct investment in the country,” said

Tariq al Lawati, a financial expert.

The proposed new law is based on international

standards and foreign investors’ rights and

obligations are clearly defined and well set out in

the proposed law. Global agency Trading

Economics in a research note forecast that FDI

in Oman would reach RO 121.13 million by the

end of 2016. It averaged RO 351.22 million from

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Iran to sanction 15 USfirms for Israel ties

Canada’s APEX

sets sights on

Block 36

prospects

TEHRAN: Iran said on Sunday it will impose

sanctions on 15 US companies for supporting

Israel’s “terrorist actions” as part of reprisals for

the increasing pressure being announced by

Washington lawmakers. The decision comes two

days after the US announced new sanctions

against groups and individuals that it accuses of

c o l l a b o r a t i n g w i t h I r a n ’s w e a p o n s

programme. The sanctions target firms that

provide arms and equipment to Israel “for use

against the Palestinians”, IRNA said. “All

transactions with these firms are forbidden, their

assets will be seized and their officials

will not be able to obtain a visa,” it added.

The list included defence firms such as United

Technologies, Military Armament Corporation

and Bushmaster Firearms International, as well

as Re/Max Real Estate, which Tehran accuses of

“buying and selling homes in settlements located

in the occupied territories”. In another tit-for-tat

m o v e , I r a n ’s p a r l i a m e n t a r y f o r e i g n

affairs committee said it would propose a new

law labelling the US army and CIA as terrorist

groups. The announcement was a response to a

new bill put forward by US lawmakers that

would see Iran’s Revolutionary Guards listed as

a terrorist organisation. “The American army is

p r e s e n t i n n u m e r o u s r e g i o n a l

crises such as Afghanistan, Iraq, Syria and

Yemen and provides vast support to terrorist

groups,”said Alaeddin Boroujerdi, president of

the committee, according to a state television

report. Tensions have mounted between Tehran

and Washington since US President Donald

T r u m p t o o k o f f i c e i n J a n u a r y .

By Kabeer Yousuf — MUSCAT: March 27 – The

crime rate in Oman has declined by 7.5 per cent

last year thanks to the constant efforts of the law

enforcement authorities, awareness campaigns

and stringent punitive measures by various

authorities, according to the Public Prosecution.

The total number of cases last year stood at

37,972 against 41,072 in 2015, a reduction of

nearly 7.5 per cent, said Mohammed Said al

Yahyaei, Assistant Attorney General and

Director-General of Muscat Public Prosecution.

“Constant campaigns, awareness about stringent

punishments and efforts by various sections of

the society has helped in reducing crimes in the

country by 7.5 per cent,” Al Yahyaei said at the

annual Public Prosecution press briefing. There

is a huge drop in the number of cases handled by

the Directorate General of Investigations and

Pleadings by 48.3 per cent in 2016. “The Public

Prosecution would like to confirm its actions are

within the norms set by the Royal orders of His

Majesty and the parameters of the nation’s

criminal procedures,” said Dr Ahmed bin Said al

Shukaili, Assistant Attorney General and

Manager of the Attorney General Office.

The Directorate General of Public Prosecution in

the Governorate of Muscat received 22.8 per cent

of the total cases or 8,673 (the highest number),

followed by the Directorate General for Public

Prosecution in the Governorate of North Al

Batinah with 6,684 or 17.6 per cent, he added.

Bausher reported 2,809 cases and Salalah had

5,481 cases.

“The Public Prosecution will continue to be strict

on human rights violation, human trafficking,

misuse of public funds, bribery, pornography and

public order cases. We have also initiated various

legal awareness campaign against all the cases

and another notable change is that there has been

a substantial decline in juvenile crimes,” said

Ahmed Hamed al Rawahi, Senior Public

Prosecutor and Public Funds Administrator, and

added that the exact figures will be with the

Ministry of Social development.

However, the available data with the Public

Prosecution suggests that juveniles constitute 4

per cent of the total number of the defendants

with 1,090 juvenile defendants, a decrease of 102

in comparison with that in 2015.

By Conrad Prabhu — MUSCAT: MARCH 26 –

Canada-based upstream energy firm Allied

Petroleum Exploration Inc (APEX), whose 100

per cent interest in Block 36 in southwest Oman

was endorsed by Royal Decree 15/2017 issued

last week, says it has its sights on two promising

prospects with a combined reserves potential of

over 300 million barrels. The Royal Decree

issued on March 19, 2017, ratifies the decision

of the local subsidiary of Norwegian oil and gas

firm DNO Oman AS to withdraw from Block 36

in which it had a 75 per cent interest. DNO had

acquired the 75 per cent interest in a farm-out

concluded by APEX in September 2013. As a

result of DNO’s withdrawal from the Block,

APEX now regains 100 per cent interest and

operatorship of the Block.

According to Alberta-based APEX, the work

carried out in conjunction with its farm-out

par tner over the pas t four years has

“dramatically de-risked the block, and identified

the areas where chance of exploration success is

highest”. “APEX currently plans to acquire

high-resolution seismic over two of the larger

prospects (with combined reserves of over 300

million barrels) and prepare for the drilling of

the next exploration wells,” the Canadian firm

stated on its website. APEX was awarded the

sprawling 18,500 sq km concession, situated

along the Sultanate’s borders with Saudi Arabia

and Yemen, in September 2011. A pair of deep

wells drilled previously on the relatively

underexplored concession had hydrocarbon

shows with over 40 metres of Silurian – one of

the main source rocks that generated oil for giant

fields elsewhere in the Gulf region.

During the period of the farm-out, reprocessed

and newly acquired seismic yielded a number of

prospects and numerous exploration leads, said

APEX, noting that the reserve size of the

prospects and leads ranges from 50 to 250

million barrels. Also as part of its obligations,

DNO drilled the first exploration well under the

farm-out. Hayah-1, drilled in May 2016,

targeted an undrilled portion of the Block,

reaching a depth of 3,010 metres.

Fish production

rises by 11.5 per

cent

Importance of risk

management in

adventure tourism

highlighted

Free Wi-Fi on

Mwasalat buses

Madinat Al Irfan

Development

triumphs at

Cannes awards

By Zainab Al Nasseri — MUSCAT: March 27 –

During the past five years, fish production has

gone up as the growth on an average stood at 11.5

per cent. Figures show that fish exports also

increased from 94,000 tonnes to 157,000 tonnes

between 2011 and 2016, according to Yaqub al

Busaidi, Director-General of Marketing and

Fishery Investments at the Ministry of

Agriculture and Fisheries. This was revealed at a

workshop titled “Basics of participation in

exhibitions” held on Monday under auspices of

Dr Hamed al Aufi, Under-Secretary of the

ministry.

Speaking on the occasion, Al Busaidi said the

sector’s development plan endorsed by the

Supreme Council for Planning, includes

establishing enterprises like Oman Aquaculture

Development Company which is now working to

establish many other projects. “There is also

Wusta Fishing Company which is still under

formation, besides a proposal to establish a firm

for marketing services,” he added. The

contribution of agriculture and fisheries sector to

gross domestic product (GDP) reached RO 327

million in 2016, according to National Centre for

Statistics and Information.

“Oman exports fish to more than 40 countries as

per International Trade Centre data. So, there are

many reasons for SME entrepreneurs to discover

the potential of this sector, market it and set up

added-value projects,” said Saif al Mammari,

Acting Director of Exports Development at

Ithraa.

Al Mammari said that knowledge of basics and

concepts of international trade is a must before

starting any exporting activity.

By Zainab Al Nasseri — MUSCAT: March 27 –

The Ministry of Tourism on Monday launched

Risk Management and Safety in Adventure

Tourism (RMSAT) programme, as part of its 15

initiatives aimed at encouraging adventure sports

and tourism activities in Oman. The programme,

launched under the auspices of Sayyid Adil bin al

Murdas al Busaidy, Adviser of Tourism Affairs at

the Ministry of Tourism, resulted from the

national programme to promote economic

diversification ‘Tnafeeth’ which is backed by

Implantation and Follow up Support Unit.

The launching presentation of the programme

included a working paper, which explained the

purpose of introducing the programme, its

importance and its primary role in developing the

tourism sector in the Sultanate. It also

highlighted the roles of the programme’s

stakeholders and institutions of the Omani

tourism sector, which organise adventure

tourism activities.

The programme was launched during a

presentation, prepared by the Ministry, in

cooperation with supportadventure.co.nz, which

is supervised by the New Zealand Government,

and Maven International Consulting Company.

Christopher Knoll, Director of International

Enterprise Development, explained the

programme and its contents; namely structuring

the system, safety management plans, standard

operating procedures, managing the risks, the

teamwork, and the activity practitioners, types of

equipment, accidents, emergencies and

examination of systems and records.

During the presentation, an adventure tourism

activities guide, that particularly highlighted the

By Staff Reporter — MUSCAT: March 27 –

Madinat Al Irfan urban development, a signature

project of wholly government-owned tourism

investment vehicle Omran, fought off global

competition to win the award in the Big Urban

Projects category at the prestigious MIPIM AR

Future Project Awards 2017. Announced at a gala

dinner in Cannes, France, last week, the

development was recognised by the judges for its

creative design which fuses Omani building

traditions with contemporary design, as well as

its holistic infrastructure strategy.

The awards, now in their 16th year, took place

during MIPIM, the world’s leading real estate

exhibition. With more than 200 entries from 30

countries, the awards recognise the contribution

made towards the regeneration of the areas or

cities in which the projects are built.

Pioneering an institutional framework for

planning, development, and regulatory control,

Madinat Al Irfan delivers the highest standards of

urban development for Oman and the region. The

project was designed to establish a new urban

centre within the heart of Muscat – home to a

signed by the two companies in December 2016

to provide Wi-Fi on all buses of the company,

giving the public transport users a unique

Internet experience onboard. It will also help

enhance the quality of the services provided by

Mawasalat to its customers. How to use the

service, our customers can follow the following

steps: Turn on ‘Wi-Fi’ in the device, choose

‘Omantel Wi-Fi’ and then run the Internet

browser and wait for the ‘Omantel’ to enter the

mobile number and follow the instructions.

Mawasalat customers using services from

Omantel, Oorredoo, Renna and others can enjoy

this free Wi-Fi.

wadis, was also launched. The same has been

prepared by the Ministry of Tourism, in

c o o p e r a t i o n w i t h t h e N e w Z e a l a n d

Government’s Business, Innovation and

Employment Department; Stephen Jones,

Development Consultant at Oman Tourism

Development Company; and the Chairman of the

Empowerment of Adventure and Nature

activities in Oman.

The guide includes a description for adventure

tourism in wadis, the risk identification and

management process, the mechanism of

classifying wadis, the most prominent activities

can be done in wadis, and how to manage the

risks, the teamwork, the activity practitioners,

and types of equipment, accidents, and

emergencies.

By Staff Reporter — MUSCAT: March 27 –

Mawasalat has introduced the free and unlimited

Wi-Fi service in cooperation with Omantel on

all city routes in Muscat from Tuesday (March

28). Shortly, the facility will be extended to the

fleet operating on foreign routes, as well as to the

different governorates and the Sultan Qaboos

University. The facility follows an agreement

Crime rate down by

7.5 %

Telegram: https://t.me/omanme

living, working and visiting population of some

280,000. Its innovative infrastructure strategy,

adhering to world-best practice, aims for

significant improvements to the project’s overall

sustainability performance, including 50 per cent

reduction in energy demand, potable water use

and car reliance.

maintenance — a capability that will now be

significantly enhance in the Sultanate, said Dr Al

Abri.

Babcock, which has a 49 per cent shareholding

in Duqm Naval Dockyard (DND), is the

principal provider of engineering support

services to the UK’s Royal Navy. Over the past

25 years, the British firm has also provided

critical naval design services, equipment and

support to the navies of a number of countries.

MUSCAT: Oman Air, the national airline for the

Sultanate of Oman, is continuing its expansion

across Europe and North America by signing a

new partnership agreement with Lufthansa.

Under the new agreement starting March 26,

2017, guests on Oman Air can connect to 59

destinations across Europe and North America

from Lufthansa’s Frankfurt and Munich hubs on

an interline basis.

At the same time, Lufthansa will codeshare with

Oman Air on Oman Air operated services from

both Frankfurt and Munich to Muscat, allowing

their guests to experience the hospitality and

outstanding service of Oman Air.

In order to provide Oman Air’s guests with a

seamless travel experience whilst connecting in

Frankfurt and Munich, Oman Air will be moving

terminals in Frankfurt to the Lufthansa operated

terminals in Frankfurt terminal 1 and Munich

terminal 2.

Oman Air will also be re-timing its current

services to Frankfurt to arrive and depart

Frankfurt during the morning to facilitate

connections in Frankfurt to Europe and North

America in under three hours.

Furthermore, as a commitment to the new

opportunities open to Oman Air’s guests with

this partnership, Oman Air will be operating its

brand new Boeing Dreamliner 787-9 between

Muscat and Frankfurt.

Conrad Prabhu –

MUSCAT, MARCH 27 –

The new Duqm Naval Dockyard (DND), a joint

venture between Oman Drydock Company

(ODC), whol ly owned by the Omani

government, and Babcock International Group,

the UK’s leading engineering services provider

for the British Navy, will formally come into

operation next month.

The official launch of the new entity, which will

be located at ODC’s state-of-the-art ship repair

yard at Duqm, will help fuel the inflow of naval

ships from British, European and other friendly

international navies for repairs and maintenance

services in the Sultanate.

Equally, it will bring specialist marine

engineering know how to Oman which,

alongside planned partnerships with global

heavyweights, will position ODC for stronger

business growth and potentially the rollout of

shipbuilding capabilities in the future as well, a

senior executive said.

Dr Ahmed al Abri, Deputy CEO — Operations,

ODC, said: “Our partnership with Babcock will

be formally operational when the new joint

venture is registered with the Ministry of

Commerce and Industry. We expect this to

happen next month.”

The imminent incorporation of the new entity

comes less than five months after the two sides

announced a landmark agreement to establish a

partnership designed to enhance ODC’s naval

docking capabilities. Naval ships being more

complex than commercial cargo vessels require

specialist expertise in their handling and

OAMC launches 4

mobile apps

Govt spends 2.7

pc of GDP for

healthcare

New Oman Duqm

Naval Dockyard

set for April

launch

Oman Air

increases

connectivity to

Europe and North

Atlantic

VAT registration

required for firms

with annual

revenues of

$100,000+

Oman LNG hosts

IGU executive

meetings

convenient for passengers and travellers.

Amongst the provided services is the search

engine, flights information, maps, boarding alert,

and the two to-be-launched services: Fast Track

and Parking Reservation. This app is for people

who are always late for their flights or to avoid

long queues. OAMC’s fast track service allows

you to book a special track online. Enter the

number of passengers accompanying you and

pay online, same goes to the parking reservation

service.

Set in Muscat International Airport, OAMC had

launched a mobile game called “Saif Trip” where

the user gets to experience a 4-level adventure

with Saif, who is late for his flight and in order to

catch it, has to go through a series of obstacles.

The game is a projection of the new airport look,

and offers the user a full perspective on the

services provided by the airport through four

levels: The Drop Off, Check In, Retail and

Departure. As Oman is becoming a leading

destination around the globe, the game promotes

Muscat International Airport and its services as

the world’s gate to Oman.

The last [SHRAK2] two mobile applications are

Muscat AR, and Salalah AR, which are

augmented reality apps that interact with a drawn

map of Muscat International Airport and Salalah

Airport to provide a 360 landscape

of both airports. The user can enjoy an interactive

experience with the

look and feel of the airports, wander through the

different sections, and know more about each

airport.

MUSCAT, MARCH 28 –

More details have emerged about the scope and

specifics of the proposed value added tax (VAT)

regime due to be rolled out in Oman, and the

wider Gulf Cooperation Council (GCC) region,

effective from January 1, 2018.

According to leading global professional

advisory services firm EY, businesses with an

annual revenue of over $100,000 will be required

to register for VAT purposes once a legal

framework for the new indirect tax is formally in

place. Registration for VAT is optional for

smaller firms generating revenues between

$50,000 – 100,000, the firm stated in an advisory

to clients.

The revelations come as some GCC member

states make stronger headway in their efforts to

prime their local populations, and businesses in

particular, about the application of the new tax

regime ahead of its coming into force early next

year.

Earlier last week, authorities in the UAE hosted a

briefing session on VAT for government advisors

– an event “aimed to send a clear message to the

market, which is that VAT is coming and

businesses must begin to prepare immediately”,

said EY in its advisory.

“The UAE (and some unnamed other Gulf

Cooperation Council (GCC) Member States) is

still on track to implement VAT from 1 January

2018, and it expects to release its domestic VAT

Law before the end of the first half of 2017, with

detailed Executive Regulations to follow shortly

after. Under the GCC VAT

Framework Agreement Member States who do

Sultanate comes second in the Arab world and 26

internationally in the health foundation.

He said that during the Eighth Five-Year Plan,

five hospitals, 4 specialised health centres and 39

health centres were opened and operated in

different governorates.

Oman LNG is hosting the prestigious Executive

Committee Meeting of the International Gas

Union (IGU) with the attendance of over 120

senior level executives and gas experts from the

global gas industry. The two-day event, a

collaboration between Oman LNG and IGU,

began here yesterday.

As the leading global organisation for the gas

industry, IGU wishes to focus on the role of gas

and how gas can play an important role in the

future energy mix. For this key gas event that

contains both meetings and workshops, IGU has

invited experts from International Organisations,

Ministry and Industry.

The meetings provide an opportunity for high-

level government representatives and industry

professionals to share knowledge, raise

awareness and to discuss strategic options that

natural gas offers in the context of sustainable

access to energy, social and economic

development, and addressing environmental

challenges.

Salim al Aufi, Under-Secretary, Ministry of Oil

& Gas Oman, will open a workshop on the

theme, “Gas Landscape Market in Oman —

Opportunities & Challenges” tomorrow.

not commence on 1 January 2018 will have up to

one year to introduce VAT,” it stated.

In the Sultanate, businesses are bracing for a

mid-year announcement out l in ing the

framework for the implementation of Value

Added Tax as part of a Gulf-wide initiative.

Spurred by calls from EY and other professional

services firms, many businesses are gearing up to

provide their accounting and audit staff with the

requisite insights on the application of the tax, as

well as update their accounting systems.

While the standard VAT rate will be set at 5 per

cent, member states of the GCC can exercise

their prerogative of affixing a zero rate (or an

exemption altogether) for the following sectors:

Education, Healthcare, Real Estate and Land

Transport, according to the EY advisory.

MUSCAT: Dr Ahmed bin Mohammed al Saeedi,

Minister of Health, highlighted the attention of

the government for the sound foundations of the

integrated health system, which covers

spending, equivalent to 2.7 per cent of the GDP.

He said in a statement to Oman daily newspaper

that the government accounts for 81.1 per cent of

the total health expenditure.

It manages approximately 83.1 per cent of the

hospitals, 95.5 per cent of the hospital beds, 62.2

per cent of outpatient services and 94.5 per cent

of the inpatient care services.

The Minister of Health considered that the rapid

reduction of mortality rates and control of

commun icab l e d i s ea se s i s a hea l t hy

development achievement, pointing out that the

Legatum/Welfare Index conf i rms the

development of the health sector, where the

MUSCAT: As part of its participation in Oman’s

biggest ICT Trade Fair COMEX2017, Oman

Airports Management Company (OAMC)

launched four mobile apps that are available for

users of both Android and IOS[SHRAK1].

OAMC’s official mobile application (Oman

Airports) had been launched in 2013 and offers a

number of services that are time-saving and

Oman, South

Africa look to

expand trade in

foodstuffs

JOHANNESBURG: Dr Ali bin Masoud al

Sunaidy, Minister of Commerce and Industry,

met with Rob Davies, Minister of Trade and

Industry of South Africa during his visit to South

Africa. The two sides discussed trade and

industrial relations between the two friendly

countries and means of promoting them

particularly in foodstuff industries, opportunities

of joint investment and technology transfer in

meat and vegetables processing. The two sides

also discussed projects of storing and re-

exporting foodstuff from and to Sohar Port, as

well as the potential cooperation in areas of

science, technology and logistic sector. Dr Al

Sunaidy gave a speech on trade and investment

opportunities in the Sultanate. A visual

presentation was also given on the Sultanate’s

ports and economic zones in the presence of

businessmen.

The meeting was attended by Yahya bin

Abdullah al Oraimi, Head of Economic Affairs

Sector at the Foreign Ministry, Said bin Saleh al

Kiyoumi, Chairman of Oman Chamber of

Commerce and Industry (OCCI), Mubarak bin

Salim al Zakwani, Sultanate’s Ambassador to

South Africa, businessmen from both sides and

officials representing various sectors namely

Sohar Industrial Port, Special Economic Zone

Authority at Duqm (SEZAD) and Oman Food

Investment Holding Company. — ONA

Telegram: https://t.me/omanme

By Lakshmi Kothaneth — MUSCAT: March 29

– Comex 2017 has become a major platform to

convey e-services from various organizations.

The National Digital Certification Centre has

been activating the Tam service for citizens and

expatriates. It just takes seconds to activate the

card. The ID cards are activated with PKI

certification right at NDCC’s pavilion at

Comex. The Public Key Infrastructure (PKI) —

digital certification activation in the ID card

takes seconds where the name on the card is

verified, followed by finger print, agree on the

terms and by choosing a six-digit pin code.

After the authentication, the owner of the card is

qualified to sign electronically. What is

installed in the id card are the authentication

certificates and electronic signing certificates.

This is also connected to the mobile phones

through PKI enabled Sim cards. This would

require a replacement of the normal sim card to a

PKI enabled card. These sim cards are available

with Omantel and Ooreedoo and can be

processed online www.oman.om/tam. The

website provides many services such as

verification of the id card whether the id card has

PKI feature.

This service of authentication is usually

provided at the more than 30 Civil Status

Centres via Royal Oman Police in all the

governorates.

“The benefits of Tam are security and protection

of personal data, authentication of digital

identity online without the need of physical

appearance, ability to sign any document or

application electronically, valid and trusted

eSignature with the same legality as regular

signature, ability to validate and integrate the

signed documents, 24/7 access to government

services from everywhere, and saving time and

effort along with money,” explained Yahya al

Azri, Director of NDCC.

The service that was launched in 2013 is now

incorporated by other organizations such as

Invest Easy Gateway, Muscat Municipality,

Ministry of Manpower, Ministry of Health,

Public Prosecution, Al Raffd Fund, National

Center for Statistics and Information and Bank

Dhofar and other entities. Bayan services of

Royal Oman Police is also expected to integrate

with the services by July.

By Samuel Kutty — MUSCAT: MARCH 29 –

Thanks to the rising living standards and

intensive health check-ups, infant mortality rate

in the Sultanate has witnessed a significant drop

in the recent years. The rate stood at 9.5 per

thousand live births in 2015 against 14 deaths in

2014, while it witnessed an all-time high of 11.4

in 2004. Congenital disorders have been

attributed to 27 per cent of the deaths. The crude

birth rate, which refers to the number of births in

a given year per thousand of the population in

the middle of that year, reached 34.1 births,

while crude death rate was found to be 2.9 per

thousand people.

Infant mortality rate is the number of infants

dying before reaching one year of age, per 1,000

live births in a given year. Data from the

National Centre for Statistics and Information

reveals that as many as 538 child deaths, aged

below 19 years of age, were reported,

accounting for 20.3 per cent of the total deaths in

the Sultanate. According to a report by Ministry

of Health, almost 99 per cent of pregnant women

had access to prenatal and birth services in

hospitals, and this was also reflected in the high

rate of birth registration of both Omani and non-

Omani children.

The country has already adopted its National

Strategy for Childhood (2016-2027) and

strengthened the National Commission for

Family Affairs under the Ministry of Social

Welfare. “Oman is committed to creating a

sound and protective environment for children

in which they could be cared for socially,

economically and emotionally”, the ministry

said in its annual report. “There were initiatives

in place to reinforce child-friendly hospitals by

the greater inclusion of communities, a law on

formula had been introduced and child-spacing

was promoted in families. All those initiatives

had resulted in reducing malnutrition to 2.4 per

cent,” the report pointed out.

New Oman

multimodal

transport law on

Sharakah

investments in

Omani SMEs total

RO 5.4m

Sultanate sees fall

in infant mortality

rate

Activate Tam card

for digital sign

Seminar on

Oman’s family

businesses held

industry stakeholders, at a workshop hosted by

the Ministry last month. More than 50

executives, representing among others the Royal

Oman Police Customs, ROP Traffic Department,

Oman Global Logistics, Ministry of Commerce

and Industry, Ithraa and private players, were in

attendance.

Commenting on a timeline for the rollout of the

legislation, the official added: “We plan to see the

Multimodal Transport Law issued by the end of

this year or early in 2018.”

Entrepreneurs Organisation Oman Chapter, a

non-profit organisation, whose stated mission is

to ‘Engage leading entrepreneurs to learn and

g row’ hos ted Reg Athwal (p ic tu red) ,

international speaker and renowned presenter for

a 2-hour seminar on ‘Unleash your family

business DNA’ at the Grand Millennium hotel on

recently.

In this highly interactive and thought-provoking

session, members were given a global

perspective on “Family Business Matters” and

understand the building blocks of successfully

operating family businesses that have surpassed

generations. The seminar focused on new

generation entrepreneurs getting inducted in

family business to seasoned entrepreneurs

running their family businesses.

The attendees were exposed to making headway

in t e rms o f bu i ld ing d ream teams to

professionalise their business and understand

how to assess professionals who they wish to

find, attract, hire and retain for future growth.

Athwal shared personal case studies that have

helped entrepreneurs and family groups achieve

125 to 800 per cent growth in their businesses

within 2-3 years.

Entrepreneurs’ Organisat ion (EO) was

established in 1987 with its head office in the

United States. Entrepreneurs Organisation Oman

chapter was founded in 2009 by a group of 18

entrepreneurs. EO Oman has grown to 50

members over the past 8 years.

Reg Athwal is the Founding Partner and

Managing Director RTS Global Partners, the

world’s largest family business advisory firm in

Africa, Middle East and Asia, with advisory,

consulting, education and ventures being its core

business activities among others. RTS is now a

leading family business advisory and

professional services firm supporting hundreds

of clients in over 150 disciplines.

to collaborate, discuss business opportunities

and meet with Board Members. The event was

attended by 40 SMEs.

In 2016, Sharakah received “The Bizz Award” by

the World Confederation of Businesses

(WORLDCOB) in recognition of its effort in

developing local capacity and SMEs.

Sharakah, set up by Royal Decree to support the

development of small and medium enterprises

(SMEs) in the Sultanate, held its Annual General

Meeting for the financial year ended December

31, 2016, 2017 on Monday. It was presided over

by Hani al Zubair, Chairman of the Board of

Directors. The meeting was attended by Board

Members, representatives of the Shareholders,

officials of concerned authorities and staff.

Hani al Zubair welcomed all the attendees and

gave an overview of Sharakah’s achievements

for 2016. He started by stating that it was a great

year for Sharakah despite the challenges the

economy is facing due to the financial crisis.

Sharakah’s investments invested in SMEs

totaled RO 807,000, exceeding the targeted

investment by RO 27,000, he said. Funding

support was provided to 17 projects, the

majority of them startups. In all, Sharakah has

supported 127 projects since its establishment,

with investments totalling in excess of RO 5.4

million.

Al Zubair appreciated the cooperation received

by Sharakah from various private sector

organisations in the field of SME development.

He specifically highlighted the strategic alliance

with BP Oman in delivering the Khazzan Project

for SME Development. This Project is one of BP

Oman’s Social Investment Programmes.

The majority of SMEs supported by Sharakah

are performing well, the Chairman said.

A number of them have either opened additional

branches or expanded their market reach.

During the same year three SMEs have paid their

dues in full.

In response to a request raised by the supported

SMEs, the Ruwad Sharakah event was held in

2016 as a platform for Sharakah-backed SMEs

O m a n ’s M i n i s t r y o f T r a n s p o r t a n d

Communications is drafting new regulations

governing all modes of transportation in the

Sultanate.

The proposed Multimodal Transport Law aims to

provide robust legal underpinnings for the

growth of the domestic transportation and

logistics sector — an industry tipped to evolve

into one of Oman’s economic mainstays,

according to a senior official of the Ministry.

Hanan al Rahbi, Director-General of Planning

and Studies, said the new law is designed to offer,

among other things, comfort to foreign investors

and players that their investments and operations

in the Sultanate are protected by a robust

legislative framework. According to the official,

the great majority of goods freighted anywhere in

the world are subject to different modes of

transportation as they make their way from the

point of origin to end-users across the globe.

Thus, while goods may be shipped in container

by sea, they are transported onward by road or

rail from the port of discharge to markets inland.

This ‘multimodal’ nature of transportation and

logistics is not comprehensively covered by

existing laws and regulations in the Sultanate —

a shortcoming the new law aims to address, she

noted.

“The most important facet of the new law is the

clear definition of the roles for each party

involved in a multimodal transport contract,”

H a n a n s a i d . “ We m u s t h i g h l i g h t t h e

responsibility of each party involved, from the

carriers and freight forwarders to the receivers. A

clear distribution of all duties is the main purpose

of the new law,” she added in comments

published in a recent edition of ‘Compass’, the

newsletter of Oman Global Logistics Group

(OGL), the transport and logistics arm of the

Omani government.

Proper regulation of goods carriage and logistics

processes across all available transport modes

promises to give assurance to foreign companies

about the safe movement of their merchandise

across Oman’s borders, the official said. “Better

control and management of multimodal transport

will make Oman much more attractive to the rest

of the world,” she further stated.

A draft of the Multimodal Transport Law, said

Hanan, was presented to representatives of major

transport and logistics companies, as well as

Muscat IT Eng. & Trd. LLC

Services:

Registration & Investment ConsultantsParticipation in Investments ProjectsIntroducing interested Omani investorsMarketing & Sale ServicesDeferred payment LCsFacilities for getting loansRe-Export / Re-ImportVisa

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Alara, Singapore

firm sign Washihi

copper offtake

pact

Buying in bank

stocks pushes

MSM index up

of an offtake agreement for supply of copper

concentrate from the Washihi reserve.

According to a company statement, the offtake

agreement signed by its local subsidiary Alara

Oman Operations Pvt Ltd is with Singapore-

based Statdrome Pvt Ltd.

As per the agreement, the annual concentrate

production of approximately 35,000 wet tonnes

will be shipped at regular intervals from the

Sohar port.

The company said the decision was taken `after

considering the offtake proposals from several

competing companies’. The Singapore-based

company has experience of over 15 years in non-

ferrous concentrates trading, including copper

sales in and out of the Sultanate.

The company said there also existed the

possibility of supplying the material to the

Omani smelter in case it restarted. But, the

project financial model allows for sea freight

and other charges associated with the sale of

concentrate from the port at Sohar.

The agreement also includes a pre-payment of

$6 million to assist in funding project

construction costs and mine startup. This will be

drawn down in instalments during the project

construction phase, starting once the mining

licence was issued, the statement added.

The agreement forms an important part in

financing and developing the mine and

processing plant at Washihi, and has been

c o m p l e t e d i n d i s c u s s i o n w i t h b a n k

representatives.

MUSCAT

Oman Air will start its new summer schedule on

Sunday.

The introduction of the new schedule coincides

with the start of summer in Europe, reducing the

time-difference with Oman by an hour.

There are three new routes being introduced

during the summer schedule: a four-weekly

service from Muscat to Nairobi, Kenya; a daily

direct service between Salalah and Calicut in

India and a daily direct service between Muscat

and Manchester, UK, from May 1.

This follows the acquisition of new B787-9

aircraft at the end of April.

The new schedule will also see a number of

flight changes.

Flights from Muscat to Frankfurt will now

depart early morning, which will enable

passengers to take advantage of connecting

flights with Lufthansa to 59 additional

destinations in the US and Europe.

In Frankfurt and Munich, Oman Air will relocate

to the Lufthansa Terminals and offer premium

customers access to the Lufthansa lounges.

Oman Air’s Frankfurt and Munich services will

now carry a Lufthansa code share.

The service from Muscat to Chittagong in

Bangladesh will increase from four times to six

times per week, while the frequency of flights to

Hyderabad in India will increase from twice to

thrice daily.

MUSCAT

Buying in some banking stocks saw the Muscat

Securities Market index go up by 0.34 per cent to

close at 5,654.02 points on Sunday, registering

an increase of 18.94 points.

The value of traded securities fell by 53.4 per

cent to 2.45 million rials. Volumes were also low

and the number of traded securities dropped by

42.43 per cent to be at 9.12 million. There was

trade in the shares of 40 companies and 11 of

them witnessed a price rise and the drop was for a

same number of companies.

Market capitalisation was up by 0.15 per cent to

reach 17.81 billion rials.

The financial index went up by 0.46 per cent to

close at 8,017.80 points, while industrial index

was down by 0.18 per cent to close at 7,868.88

points. Services index was up by 0.22 per cent to

close at 2,936.91 points and Shariah marginally

up by 0.04 per cent to close at 846.27 points.

The top gainers of the day were Al Madina

Investment, Bank Dhofar, Omantel, Gulf

International Chemical and Sembcorp Salalah.

The top losers were Al Omaniya Financial

Services, Port Services Corporation, Al Maha

Ceramics, Galfar Engineering and Construction

and Bank Sohar.

The top securities traded on the basis of value

were Ooredoo, Omantel, Oman Fisheries, Port

Services Corporation and National Bank of

Oman, togehte accounting for 43.47 per cent of

the total turnover.

The top securities traded on the basis of volume

were Oman Fisheries, Al Madina Takaful, Al

Anwar Holding, National Bank of Oman and

Port Services Corporation, together accounting

for 47.16 of the total securities traded.

Local individuals and institutions had a 77 per

cent share in the total purchase value and 85.9

per cent in the total sell value. Foreign investors

had a share of 7.7 per cent of the total buy value

and 7.9 per cent of the sell value. The net foreign

investment on the market went up by 8.88 per

cent to 218,000 rials.

Protective duty to

check GCC steel

imports soon

Qatar to boost UK

investments

PEIE highlights

new e-services at

expo

Turkey banker

held over Iran

curbs violation

DOHA

Qatar sees Britain’s exit from the European

Union as an opportunity to boost supplies of

liquefied natural gas to the world’s fifth-largest

economy and is open to investing in British

energy assets, Qatar’s energy minister said.

The Gulf state has 40 billion pounds ($50

billion) of investments in Britain and delivers 90

per cent of Britain’s imports of liquefied natural

gas.

Qatar, the world’s biggest exporter of LNG,

pledged 5 billion pounds of investment in

Britain on Monday in a show of support as Prime

Minister Theresa May begins the formal process

of negotiating a divorce settlement with the EU.

“The UK will have a new era post-Brexit … The

negotiations will start among Europeans and

nobody is extremely clear about where the

negotiations will lead to,” energy minister

Mohammed Bin Saleh Al Sada said in an

interview late on Monday.

“However, we can sense the possibility of the

UK’s manufacturing power going higher, and

with that the need for energy. For that, Qatar will

always be there to supply the energy required.

Certainly we can contribute to the UK’s need.”

Britain started receiving LNG from Qatar in

2008 via ships that dock at South Hook in Kent,

one of Europe’s largest LNG terminals, which is

owned by Qatar.

Qatar faces rising competition in Asia from

other LNG producers as new projects in the

United States and Australia come online in the

next few years, and Doha has said it will focus on

expanding contracts in Europe. “Europe is an

important market. The UK is a very important

market,” Sada said.

When global oversupply of gas peaks in the next

two to three years, a possible rise in demand for

energy in Europe and Britain could present an

opportunity for Qatar, he added.

MUSCAT

An initiative by steel makers of the GCC states

to persuade their governments to impose

protective duties on cheap imports of the metal

has made progress and a decision is expected

soon, Naushad Ansari, CEO of Jindal Shadeed

Iron and Steel (JSIS), has said.

Cheap imports threaten profitability of local

manufacturers, according to him.

“We have made substantial progress and the

government is very sympathetic towards this. It

has already been discussed between the GCC

states. GCC decisions do not happen very fast

because everybody has to be on the same page,

but I know for sure Oman’s Ministry of

Commerce and Industry has made positive

recommendations and we are hoping within a

matter of months we should have some results,”

he added.

Speaking to Oman Tribune, Ansari said Chinese

steel was currently selling at the right price,

adding that, today he “was not much worried

about China, but Iran, which was selling at much

lower prices because they want more dollars.

Commonwealth of Independent States (CIS) has

had substantial currency devaluation, so they

can offer products at lower prices. Turkey is the

main supplier of rebar (reinforcement bar)”.

Recently, European steelmakers trade group

Eurofer said Iranian steel imports threatened

them, after imports from that country rose by

nearly eight times between 2013 and 2016.

Eurofer said Iranian exports to Europe had leapt

to just over 1 million tonnes per annum, behind

India at 1.9 million tonnes, and China at 5.7

million tonnes in 2016. Iran aims to export 20-25

million tonnes annually by 2025, up from an

estimated 16 million tonnes currently.

Rebar is used in civil constructions and is

currently priced at $450-460 per tonne in the

Gulf markets.Ansari said rebar prices close to

$460 per tonne was “not a bad price, but now

input prices have gone up.

MUSCAT

The Public Establishment for Industrial Estates

(PEIE) is taking part in the 27th edition of the IT,

Telecom and Technology Show – Comex 2017

at Oman Convention and Exhibition Centre to

highlight its various eServices to the visitors.

These services, according to PEIE officials,

mark a positive impact in facilitating the

services for the investors and encourage

potential investors to invest in the various

estates that fall under the umbrella of PEIE.

Ali Al Harthy, Acting Director of Information

Technology Department at PEIE, said the

department’s participation at Comex this year is

aimed at introducing PEIE’s eServices offered

to the investors.

“A variety of services are being highlighted

including Estate Management System (EMS),

eProspect service, eMap service, and Tenant

Directory and eTenant service. These services,

which have been developed by Omani cadres,

target the potential investors and the public,” Al

Harthy said.

“eProspect service has been developed to

provide online investment application for

potential investors to apply via the Internet. This

service enlightens potential investors on the

offered services for investors. Moreover, the

eMap service displays a geographic mapping

system of integrated maps of the various estates

pertaining to PEIE. It also provides details of the

tenants including thei r locat ions and

availability,” Al Harthy said.

The US has arrested a senior official at a state-

owned Turkish bank on charges of helping Iran

violate US sanctions, a move that could fuel

tension ahead of Secretary of State Rex

Tillerson’s visit on Thursday.

Halkbank’s Mehmet Hakan Atilla is accused of

helping to process millions of dollars of illegal

transactions through US banks for the Iranian

government and other Iranian institutions, the

state-run Anadolu news agency reported.

“Our deputy general manager in charge of

international banking, Mehmet Hakan Atilla,

Telegram: https://t.me/omanme

Three new routes

in Oman Air

summer schedule

MUSCAT

Australian firm Alara Resources, which is in a

70:30 joint venture with Al Hadeetha

Investment Services, has announced the signing

Oil price swing a

dilemma for top

producers

The crude import data from Asia’s biggest

buyers shows the scale of the challenge facing

Saudi Arabia and Russia, the two countries that

are the lynchpins of the November agreement

between the Organisation of the Petroleum

Exporting Countries (Opec) and its allies to cut

output by 1.8 million barrels per day (bpd) in the

first six months of 2017.

That agreement, which provided an initial boost

to crude prices, may be extended for another six

months after ministers from Opec and non-Opec

producers agreed on March 26 to conduct a

review.

While Opec and its allies have had success in

ensuring high compliance with the deal, which

has started the process of drawing down high

global oil inventories, they have also opened the

door to producers outside the agreement to raise

output.Chinese customs data for the month of

February highlights how at risk Opec and its

allies are from cutting their own output while

their rivals are free to pump as much as they

want.

China imported 4.77 million tonnes, or about

1.24 million bpd, from top supplier Saudi Arabia

in February, down almost 13 per cent from the

same month a year earlier.While February’s

imports were down from the same month in

2016, they were actually up from the 1.18

million bpd China imported from the kingdom

in January, which shows that the Saudis seem

reluctant to restrict sales to their top

customer.That’s strike one against boosting

prices in favour of preserving market share.

China imported 1.19 million bpd from Russia in

February, up 4.5 per cent on the same month last

year and also above the 1.08 million bpd

recorded in January.

So far, that looks like strike two against cutting

supplies to increase prices over preserving

market share.

To be sure, there were countries that agreed to

the cuts that did reduce their exports to China in

February, such as the United Arab Emirates, but

this was more the exception than the rule.

China’s imports from Saudi Arabia are 1 per cent

higher in the first two months of 2017 from the

same period last year, while those from Russia

are up 18.9 per cent higher, from Angola 5.1 per

cent, Iraq 26.2 per cent, Iran 9.4 per cent and

Venezuela 39.6 per cent.

Saudi Arabia and Russia are likely to discover

that when pursuing two incompatible goals, the

one deemed less important will ultimately be

sacrificed.

The world’s top two oil exporters appear to be

chasing both higher crude prices through their

curbs to production and market share by

increasing exports, at least in Asia, the world’s

biggest crude importing region and the fastest

growing.

The question is which of these two goals will

ultimately be abandoned in favour of the other,

and how long will it take for Saudi Arabia and

Russia to realise the incompatibility of their dual

ambitions?

was taken into custody in the United States

where he was for business purposes on March

28,” the bank said, adding that it was working

with the authorities.

Anadolu said Atilla was accused of two crimes

when he appeared before a judge in New York on

Tuesday: conspiring to violate US sanctions

against Iran and banking fraud.

It said Atilla faced up to 50 years in prison.

The arrest came as Tillerson is to meet Turkish

President Recep Tayyip Erdogan as well as

Foreign Minister Mevlut Cavusoglu in Ankara

on Thursday.

In an interview with state broadcaster TRT

Haber, Cavusoglu said that the case would be

discussed during Tillerson’s visit and that

Turkey was following the case closely, through

both its embassy in Washington and consulate in

New York.

“We will ask (Tillerson) what this issue is about.

We will bring to the agenda our worries,”

Cavusoglu said.

He said they would also discuss the Syria

conflict, now in its seventh year, and the

requested extradition of US-based preacher

Fethullah Gulen, whom Ankara accuses of

ordering a failed coup last year.

Gulen has denied the charges, but Ankara has

repeatedly called on Washington to return him to

Turkey.

Telegram: https://t.me/omanme

Muscat IT Eng. & Trd. LLC

Services:

Registration & Investment ConsultantsParticipation in Investments ProjectsIntroducing interested Omani investorsMarketing & Sale ServicesDeferred payment LCsFacilities for getting loansRe-Export / Re-ImportVisa

GSM & WhatsApp: +968 917 43 191amir@muscat-it.com

Telegram: https://t.me/omanme

Telegram: https://t.me/omanme

Telegram: https://t.me/omanme

Telegram: https://t.me/omanme

Telegram: https://t.me/omanme

Telegram: https://t.me/omanme

Telegram: https://t.me/omanme

Muscat IT Eng. & Trd. LLC

Services:

Registration & Investment ConsultantsParticipation in Investments ProjectsIntroducing interested Omani investorsMarketing & Sale ServicesDeferred payment LCsFacilities for getting loansRe-Export / Re-ImportVisa

GSM & WhatsApp: +968 917 43 191amir@muscat-it.com

Telegram: https://t.me/omanme

Telegram: https://t.me/omanme

Telegram: https://t.me/omanme

Telegram: https://t.me/omanme

Muscat IT Eng. & Trd. LLC

Services:

Registration & Investment ConsultantsParticipation in Investments ProjectsIntroducing interested Omani investorsMarketing & Sale ServicesDeferred payment LCsFacilities for getting loansRe-Export / Re-ImportVisa

GSM & WhatsApp: +968 917 43 191amir@muscat-it.com

Telegram: https://t.me/omanme