Oman’s expat visa ban extended on certain jobs

A view of Oman's capital Muscat in the evening. (Shutterstock)
Updated 25 June 2018
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Oman’s expat visa ban extended on certain jobs

DUBAI: Oman’s temporary visa ban on hiring expatriates in specific jobs has been extended for another six months according to the country’s Ministry of Manpower, local daily Times of Oman reported.
“The period of the ban on permits to bring temporary expatriate manpower into private sector establishments for the professions specified in Ministerial Decision No. 38/2018 shall continue for a period of six months from July 30, 2018,” a statement from the ministry read.
Meanwhile Oman’s Royal Police (ROP) also announced that expats who work in government agencies are now able to sponsor visa applicants.
Expats who own specific properties in the country are also allowed to receive a visa without a sponsor.
“This means that expatriates will be able to become sponsors of their own family members as long as they meet certain conditions,” the statement from ROP read.
Earlier this year, the Omani government imposed the initial six month ban on expat workers getting visas for jobs in 87 industries, including media, engineering, marketing and sales, accounting and finance, IT, insurance, technicians, administration and HR.
The Omanization drive is part of a government’s push to recruit more of its citizens, a similar push is underway across the GCC where countries like Saudi Arabia and Kuwait have also been trying to increase the number of locals in employment.


BlackRock boss remains bullish on Saudi Arabian market

Updated 17 July 2018
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BlackRock boss remains bullish on Saudi Arabian market

LONDON: Larry Fink, the head of the world’s biggest asset manager, is confident about the future of the Saudi Arabian market following a visit to the
Kingdom.
Fink, CEO of BlackRock, said that he was “more excited about the opportunity” in Saudi Arabia following his visit.
He added that he would not be surprised to see an initial public offering of Saudi Aramco in some form next year, perhaps on the Saudi stock market, known as the Tadawul.
He was speaking on the day Black Rock reported smaller demand for its funds on Monday, and its stock dropped despite a better-than-expected quarterly profit. Net income attributable to the company rose to $1.07 billion in the second quarter, up more than 25 percent from $854 million a year earlier, Reuters reported.
The company faced a difficult market during the quarter, reporting an industrywide slowdown in the demand for exchange-traded funds (ETFs).
The BlackRock CEO said he would not be surprised to see an initial public offering of Saudi Aramco in some form next year.