Oman bans expats in certain private higher education jobs

More than 40,000 Omanis have already benefited from the Omanization policies enforced by companies. (File/AFP)
Updated 31 December 2018

Oman bans expats in certain private higher education jobs

  • These efforts were in line with Oman’s greater push to integrate more Omanis into the private sector
  • Expats however still make up 87 percent of Omani’s private sector workforce

DUBAI: Oman has banned the employment of non-Omanis to certain professions in the private higher education sector, local daily Times of Oman reported.

According to a decree released by the Ministry of Manpower, the job positions include director of admissions and registration department, director of student affairs, director of quality assurance and director of the career guidance department.

“The Omanization rate in technical colleges at the dean’s position is 100 per cent, administrative staff is at 98 per cent, technicians are at 57 per cent and academic cadres stand at 20 per cent, which the ministry seeks to increase by hiring more lecturers,” according to the ministry.

The ban comes after the labor ministry’s implementation of the “preparation program,” which assists Omani lecturers in improving their credentials for employment.

These efforts were in line with Oman’s greater push to integrate more Omanis into the private sector, which has achieved significant strides in the past months.

The National Centre for Statistics and Information (NCSI) recorded a 13.6 percent drop in the unemployment rate of Omanis over the last month, and noted that more than 40,000 Omanis have already benefited from the Omanization policies enforced by companies.

Expats however still make up 87 percent of Omani’s private sector workforce.


Barclays sees $2 per barrel impact to oil prices as coronavirus fears threaten demand

Updated 28 January 2020

Barclays sees $2 per barrel impact to oil prices as coronavirus fears threaten demand

  • More than 100 people have died and over 4,000 cases of the new virus have been confirmed in China
  • Barclays expects the OPEC and other allies to step in and take further measures to keep the markets tight

BENGALURU: Barclays said on Tuesday oil prices will be impacted by $2 per barrel on the potential economic fallout from the coronavirus outbreak in China.
More than 100 people have died and over 4,000 cases of the new virus have been confirmed in China, leading authorities to increase preventive measures, impose travel restrictions and also extend the Lunar New Year holidays to limit the spread of the virus.
The bank sees a $2 per barrel downside to their full-year Brent and WTI forecasts of $62 per barrel and $57 per barrel, respectively.
Compounding the effects of the spillover to economic growth from China and the region, Barclays expects transitory oil demand erosion of about 0.6-0.8 million barrels per day (mb/d) in the first quarter of this year, or 0.2 mb/d for the full year.
“If air passenger traffic in China declined by half in first quarter of 2020, it would likely lead to a 300,000 barrels per day year on year decline in jet-kerosene demand from China,” the bank said adding the fall in road transport would likely be less severe than in the past given reduced reliance on buses.
Barclays expects the Organization of the Petroleum Exporting Countries and other allies to step in and take further measures to keep the markets tight, in case the fall in demand is more acute.
Oil prices have been down for the last six sessions, but the bank said that the market reaction was likely overdone.
Barclays said the actual economic fallout from the coronavirus could be less severe than the 2003 SARS outbreak, given that the new virus seems less lethal than SARS so far and the measures taken by Chinese authorities.
The bank said the geopolitical risks to global supplies remain high as US-Iran tensions could continue to gradually escalate and oil production in Libya could fall further if the blockade of key infrastructure facilities continues.
Brent crude prices are currently trading around $59 per barrel and US WTI at around at $53 per barrel.