Nokia Intoduces E7 Into Omani Market

Nokia’s premier smartphone, the E7, was officially launched in the Sultanate of Oman, marking its entrance into the MENA (Middle East/North Africa) region of the world.

Oman and the Nokia E7 Smartphone

The Nokia E7 was introduced to the world last September, boasting the Symbian 3 operating system. It is also has a 4 inch Amoled ClearBack touch screen which will increase significantly its outdoor visibility. The E7 comes with a full QWERTY key pad which slides in and out for convenience and storage. It has an amazing 8 megapixel camera which comes complete with a dual LED flash and HD video capture.

Most important of all for Omani business leaders and others in need of a full-function, easy to use smartphone is that the Nokia E7 supports a full array of business applications from the most prominent technology providers such as Microsoft and IBM.

It is a great show of confidence that Nokia should choose Oman as the first of the MENA countries to distribute its state-of-the-art smartphone.

Hackers Target Mobile Devices as They Gain Popularity

In related news, a recent wave of security breaches in Oman was shown to be caused by the rising popularity of smartphones there. A recently published report by IT security solutions provider Symantec stated that hackers are now changing the focus of their trade onto mobile devices and away from computers. ‘The major mobile platforms have become ubiquitous enough to garner the attention of attackers,’ said the report.

The founder of knowledgeoman.com, Tariq Barwani explained that hacking into smartphones is definitely possible in Oman, but it is easily avoided. Users should refrain from downloading illegal copies of applications as well as never entering suspicious websites and never accepting unknown Bluetooth files.

“It could definitely happen here. The operating systems for smartphones are mini versions of those in computers, and if people understand the core of how these systems work, they could easily create Trojan viruses or back doors in systems which control how these operating systems work.”

Another IT expert, Saurabh Vats, the business development manager for Imtac, agreed that consumers must be aware that they can be targeted easily by hackers.

“Mobile devices have become an extension of our lives, and at the same time they have become a soft and easy target for those who are always on the hunt for easy money.”

Cooperation Agreement Signed in Abu Dhabi with the OOC

OOC and IPIC Sign Agreement

The Oman Oil Company signed an agreement with the International Petroleum Investment Company this week in which the parties will undertake to cooperate on investment projects within the oil, gas and petrochemical sectors.

The agreement was signed by the CEO of the OOC, Ahmed bin Salim al Wahaibi, and a representative of IPIC, Khadim Abdullah al Qubaisi. Present at the ceremony were also Shaikh Mansoor bin Zayed bin Sultan al Nahyan, UAE Deputy Prime Minister, Presidential Affairs Minister, and IPIC Chairman; and Dr. Mohammed bin Hamad al Rumhy, Minister of Oil and Gas. IPIC is an investment company which is owned by the UAE.

The Chairman of the OOC and Under Secretary of the Ministry of Oil and Gas, Nasser bin Khamis al Jashmi said that this deal will enable the parties to create a variety of petrochemical projects and start oil refineries as well as allowing the partners to exchange expert knowledge and technology in a number of different areas.

In addition Khadim Abdullah al Qubaisi said that he was pleased with the agreement with the OOC, stating that, “this agreement will be a starting point for investment projects in various local or global circles. Projects to be implemented by the agreement will aim at availing job opportunities for the nationals in the two states.”

“We are working hard for deepening the relations between the two brotherly countries to characterize the spirit of co-operation and integration between the GCC states. We will exploit the agreement in investment in the projects that have positive economic influences and interests of the two brotherly states,” Al Qubaisi also acknowledged.

Also present at the signing was Oman’s Ambassador to the UAE, Shaikh Mohammed Abdullah al Qatabi.

UN Meets to Discuss Violence in Yemen

For the first time ever the United Nations met late on Tuesday to discuss the decaying political and social situation in the country of Yemen. Civil rights groups there have claimed that two months of demonstrations demanding the resignation of the president have already resulted in the death of at least 120 people.

On Tuesday security forces loyal to the Yemeni government opened fire on demonstrators resulting in the deaths of at least three and sending UN representatives to the discussion table to try and hammer out a plan to create calm in the strategically crucial country.

The efforts at the U.N. however, were less than useful as the international peace-keeping body could not agree on a statement which was put forth by Lebanon and Germany. The statement called on the sides in Yemen “to exercise restraint and to enter into a comprehensive dialogue to realize the legitimate aspirations of the Yemeni people.” The statement also called on the sides to adhere to the role of the Gulf Cooperation Council to mediate the dispute.

While the U.N. discussed Yemen in the Security Council a delegation representing the Yemeni government was on its way to Abu Dhabi, part of the United Arab Emirates, for negotiations with the Gulf Cooperation Council, a six-nation body, to discuss a proposal for the President of Yemen, Ali Abdullah Saleh, to transfer power to his deputy, which is believed will end the crisis. Similar talks were held by the opposition parties in Saudi Arabia on Sunday.

Omran Wins Meed Quality Awards for Projects

Omran, a top-notch tourism-related development, investment and management firm in Oman, won significant honors at the Meed Quality Awards for Projects, thanks to a timely delivery of the Asian Beach Games site.

Omran started working on the game site in June of 2008, and the project was completed in only 900 days. The site was delivered to the Muscat Asian Beach Games Organizing Committee in November of 2010, which was, according to a company statement, “just on time and just on budget.”

The Oman Society of Engineers chose Omran as the winner of the ‘Leisure and Tourism Project of the Year’ award in the Sultanate, a part of the provincial finals for the yearly Meed award competition.

The company came out on top of numerous other projects from within the Sultanate, winning the category for delivering Al-Musannah Sports City. The city is the site of the second Asian Beach Games.

The Meed Award nominees must demonstrate outstanding achievements in economic and and social master-planning, architecture, design, engineering construction and sustainability. The chosen projects are evaluated by a team of professionals who represent the Society of Engineers of each GCC country.

CEO of Omran, Wael Bin Ahmed Al Lawati, said “This is a fantastic achievement for Omran and reflects years of commitment and hard work poured into this project by our in-house delivery team and our many partners, including the main contractor Larson & Toubro.”

“We are particularly proud of our project safety record, which saw more than 2,500 workers complete 12 million man hours without lost time incident (LTI), and the positive impact made to local communities,” he continued.

Since the games, the said site has hosted residential, commercial and tourist visitors. Based on Oman’s first marina hotel, the facilities include residential apartments, a 4-star hotel, numerous restaurants, meeting and conference halls, and media and business centers. More than 200 jobs were created along with this facility, while the company worked with Injaz Oman on training programs for 2,000 students, in order to prepare them for jobs in the private sector.

Lawati said: “Winning this award also reflects the sound project management processes we have in place for all our projects, including health and safety, sustainable development and responsible tourism practices. This stand us in a good stead for the development of all our future projects throughout Oman.”

France’s Burqa Ban

France’s new ban of Islamic veils like burqas and niqabs will take effect on Monday, following the six month period during which people were informed of the possible penalties.

What Does the Ban Include?

The now-forbidden garments include the burqa, which is a full-body covering with a mesh to cover the face, as well as the niqab, a full-face veil with an opening for the eyes.

The hijab and the chador, are not banned by the law. Both of these garments leave the face fully visible. The hijab covers the hair and neck, while the chador covers only the body.

A statement by the Interior Ministry explained: “The ban does not target the wearing of a headscarf, head gear, scarf or glasses, as long as the accessories do not prevent the person from being identified.”

Breaking of the law can lead to a fine of $190 or 150 euros. A public service can also be demanded as part of the penalty, or as an alternative to the fine. Forcing a woman to wear a burqa will be punishable by a year in prison as well as a 30,000 euro ($43,400) fine, while forcing a minor to wear one will result in a two-year prison sentence and a fine of 60,000 euros.

Why the Ban?

The law has been passed as a safety measure, as there are significant security risks in allowing a person’s face to be completely covered in public, as well as in an effort to promote equality between the sexes. According to the government, the pressure to don such garments is “a new form of enslavement that the republic cannot accept on its soil.”

Certainly, the ban has bred numerous debates over religious autonomy.

Support and Opposition

The French Constitutional Council believes that since the law does not impose unrealistic penalties or restrain the exercise of religion in a house of worship, it “conforms to the Constitution.”

“Given the damage it produces on those rules which allow the life in community,” the government continued, “ensure the dignity of the person and equality between sexes, this practice, even if it is voluntary, cannot be tolerated in any public place.”

82% of people polled supported the ban, while 17% did not. Interestingly, Germany, Britain and Spain were major backers of the ban, while two out of three Americans opposed it.

Debit Cards Now Accepted on Oman Air’s Web Site

Good news for travelers wishing to book tickets via Oman Air’s website: passengers can now reserve their seats and pay for their tickets using their debit cards. Now, even passengers who do not have credit cards but only debit cards will be able to make their transaction on the internet.

Debit Cards Now Accepted

Oman Air is the national carrier of the Sultanate of Oman, and the company has been allowing customers to purchase their tickets on-line since 2006, but only if they had a credit card. Now Oman Air’s enhanced service gives those with only a debit/prepaid/ATM card issued with either Visa or Master Card will also be able to purchase tickets on their web site.

Oman Air has been strategizing to create a more customer-friendly environment through enhanced technology and other innovations. The website is completely secure, and all credit card transactions are encrypted for added protection. If the customer’s bank has activated the “Verified by Visa” or “Secured by “Master Card” service so doubly secure online shopping, Oman Air also supports this additional security feature.

Heightened Luxury on Oman Air

Other innovations and improvements which Oman Air has recently incorporated into their customer-company interface have been higher standards of luxury such as state-of-the-art in-flight entertainment with live satellite TV, in-flight mobile phone usage and Wi-Fi connectivity.

Mutual Funds Gaining Interest in Oman

United GCC Fund First Mutual Fund for Oman’s United Securities

One of Oman’s largest brokerage and investment firms announced the launch of its first mutual fund investment vehicle, adding itself to the short list of financial companies offering this option to investors. United Securities will be creating the pan-GCC fund, known as United GCC Fund, as an open-ended fund in which both foreigners and Omani nationals can invest. The fund will be opening with a targeted body fund of RO10 million, aimed at the Oman market, beginning as early as next week.

Last year the Oman Arab Bank began its Oman Al Arabi Fund, the very first open-ended mutual fund scheme in Oman which is especially interested in targeting the Omani market. The United GCC Fund of United Securities is the second mutual fund scheme after the Oman Al Arabi Fund.

“Unlike other GCC funds, which invest a significant portion in Oman and a small portion in other Gulf Cooperation Council (GCC) states, our investment decision will depend on the opportunities in each market and will vary from time to time,” Deepak Radhakrishnan, fund manager at United Securities.

Small Investors More Than Welcome

This fund is especially designed to attract smaller investors in Oman, with a minimum investment of only RO3000 required. There is no upper limit in the amount that can be invested in the fund.

The unit price of each share of the fund will be set at RO1, and it is expected that this scheme will bring increased stability to the county’s bourse as well as help to develop and strengthen Oman’s mutual fund market.

The opening subscription period for this fund is one month. After that investors will be able to purchase more shares at the latest net asset value. The main goal of the United GCC Fund is to allow small investors to get involved in the equity marketplace.

Now Is the Time

Radhakrishnan addressed himself to the instability now prevalent in the Middle East and the recent fall in share prices due to this uncertainty.

“We believe that it is the right time to invest, as the valuations are more realistic now. Many of the negative factors have already been discounted in the stock market. The panic is over and we do not expect any further panic.”

The government watchdog for the investment and financial marketplace in Oman, the Capital Market Authority, (CMA), has already given its blessing to the new mutual fund scheme.
On the issue of what kind of return on investment can be expected from this fund Radhakrishnan said:

“We are aiming to beat the GCC benchmark. Our aim is to give a better return than the GCC benchmark.”

US Academicians Seek to Strengthen Bond with Oman

Meeting of Fulbright Hays Delegates

Seven university and college presidents from the United States are currently in Oman as participants in the Fulbright-Hays Seminars Abroad program. The program emphasizes higher education in Arab nations and the US.

Fulbright-Hays gives grants to students from Oman who which to undertake research or other academic goals in the United States. The group of university presidents now in Oman wishes to encourage exchanges between student and faculty, promote research, and support connections between educational institutions in Oman and the US.

US Outreach to Arab World

The goals of the delegation were announced at a press conference which was organized by the US embassy in Oman. The press conference was held at the Intercontinental Hotel in Oman’s capital, Muscat. In addition the academicians announced to the media that the current visit is an element in the US government’s desire to reach out to the Arab world.

The program of visiting university presidents was funded by the US Department of Education, and administered by AMIDEAST. The goals of the program, also known as “Higher Education in Transition,” hopes to give the participants a chance to learn about best practices, as well as share experiences with their colleagues in Oman. They also hope to develop future programming in the region in conjunction with campuses in the US.

Prosperous Nation Needs Higher Education

The US Ambassador to Oman, Dr. Richard J. Schmierer described the goals of the Fulbright-Hays Seminar Abroad group at the press conference, saying,

“The embassy is pleased to support efforts to foster linkages between institutions of higher education in the US and Oman and promote the ongoing development of educational exchange and training opportunities for the US and Omani students, faculty and staff.”

Dr. Schmierer added that if a nation wishes to secure an affluent future for its citizens, higher education of the highest quality must be promoted. We are gratified to see our growing partnership with Oman in this field and we thank the members of the Fulbright-Hays delegation and AMIDEAST for their interest, time and efforts in helping to build this key relationship.”

Record High Profits Posted for Omanoil

Omanoil Execs

In the midst of Middle Eastern turmoil Oman appears to be relatively untouched, at least economically, by the winds of change blowing all around them. Take for example the success of Omanoil, which posted record high revenue for the fiscal year 2010 of RO 216.2 million (USD 561 million). This historic total sales was consistent with higher demand for petroleum products and the 6% projected economic growth for Oman in the coming year. This is a 28% increase as compared to sales of RO 168.4 million in 2009. Pre-tax profits increased as well by 28%, from RO 6.1 million to RO 7.8 million.

Net profits after corporate taxes have been accounted for will be RO 6.1 million, with earnings per share of 106 baisas.

“In 2010, the company undertook a series of grass-root improvements and upgrading initiatives to ensure efficient and reliable logistics support systems to meet the demand growth by focusing on effective asset management, operational improvements, as well as the development of a knowledgeable and skilled workforce,” stated Sheikh Salim bin Abdullah Al Rawas, chairman of Oman Oil Marketing Company.

“These initiatives are crucial in supporting the company’s various business portfolios to achieve their respective sales targets and remain competitive in product distribution to all locations nationwide,” he added.

“Customer Service which lies at the heart of our operations witnessed significant improvements across all business units through the creation of new internal and external systems and processes that promote superior customer care to dynamically exceed expectations.”

Omani Companies Fear PEIE Directives Will Hurt Business

A number of small to medium sized businesses in the Sohar Industrial Estate have expressed concern over the newly established regulations now proposed by the Public Establishment for Industrial Estates, or PEIE. These new regulations are the government’s response to the recent demonstrations in Oman for more economic security and improved working conditions for workers. The head of the PEIE explained to the Times of Oman that the Omani economy is strong and unhurt by the recent unrest, and in addition the Sultanate is anxious to protect the interests of business in Oman.

Business Leaders in Oman Worried

But the business leaders are nevertheless concerned that the PEIE directives will harm their profit margins and could even force them to move their businesses to other neighboring countries.

According to the Times of Oman there are now between 15 and 20 companies within the industrial estate which are likely to close down their businesses in Oman and move elsewhere. These companies have received an official communique from the PEIE explaining to them the same new requirements which companies with the Rusayl Industrial Estate have already been given.

Rusayl companies were told to begin to provide for a cost of living allowances ranging from RO50 to RO30, depending on the workers present salaries. The PEIE also directed the Rusayl companies to provide health insurance benefits of Omani employees and also begin to implement a five-day work week.

“I am running a small food processing unit. I am ready to pay the higher salaries. But if I have to pay for the cost of living allowance and medical health insurance benefits then I have to shell out at least extra RO3,500 per month.

This would be without considering the overtime payment. Moreover, I don’t have financial strength like bigger companies,” an entrepreneur said.

This same businessman also complained that he suffered a loss of 65,000 metric tonnes to his business as a result of the recent blockades at the Sohar roundabout.

“I will not be able to compensate it even if I work for extra hours the entire year,” he said.

PEIE Says There is No Reason for Worry

The CEO of PEIE, Hilal Al Ahsani said that he does not see any reason for concern in the industrial estate, and the government is highly motivated to promote and protect the business sector in Oman.

“A lot of new initiatives have been discussed and the government always follows a policy to promote industrial sector,” he stated.

But another entrepreneur said that the government is not showing the proper concern for their problems.

“We are running from pillar to post to resolve this issue. We don’t know whom we should approach to find a solution. If we have to follow these instructions then we should wind up our business. I heard that some companies in Rusayl Industrial Estate are also moving out to neighboring countries. Who will compensate for our losses,” he asked.

“The government should adopt plans to subsidize salaries of national workforce like other neighboring countries are doing,” he suggested.

Investors Hesitating to Invest in Oman

A financial consultant, Jose Chacko, warned that the economy of Oman could be adversely affected by the relocation of businesses out of the Sultanate.

“After witnessing the recent developments, investors are reluctant to pump in more money. The government should initiate steps to attract more foreign investment.

The establishments should be categorized based on their financial strength. Unexpected financial commitments will altogether disrupt their operations. So, a detailed study is a must to assess the latest situation,” he said.