MUSCAT: Oman’s future could very be very heavily impacted by fluctuating oil prices. This continued to dominate news agenda in Oman this week. Check out some of the best read stories of the week.
The price of diesel has crossed 200bz a litre for the first time in Oman. Diesel will now cost 206 baisas a litre, while M91 costs 186 baisas a litre and M95 costs 196 baisas a litre, as both varieties of fuel available in Oman inch towards the 200bz mark.
Oil prices, though, continue to fluctuate, and this uncertainty has forced some companies to offer shorter job contracts – some as short as six months – to expatriates looking for work in the Sultanate. Most rental agreements in Oman are for a year, though, and expats have no option to pay the full amount, even if they’ve only been hired for half that time.
Things will stabilise in the future, though, say 80% of CEOs who live and work in the country, while two-thirds of them believe that the sectors they operate in will expand in 2017, following Oman Oil’s massive $1 billion investment into projects across the nation.
But problems overseas are still a cause for concern for residents in the nation. US President Donald Trump’s executive order, which banned citizens of seven nations from visiting America, has led to the US embassy in the Sultanate cancelling the US visas of the citizens of those countries, who reside in Oman.
