MUSCAT // Hundreds of young jobless Omanis gathered opposite the gates of Sultan Qaboos bin Said's palace to demand jobs promised to them within the army, witnesses said.
The protesters gathered on Tuesday night at Bait al Barakah roundabout in Muscat. "All we wanted was the attention of Sultan Qaboos to know that the jobs the army promised us have never materialised," Hamed Khalfan, a 19-year old protester, said.
The military moved them on four hours later but Mr Khalfan said some protesters remained on the pavements until Wednesday morning.
Hamood Mohammed, a 20-year old protester said a representative of the sultan came and spoke to the demonstrators and promised he would personally convey their message to him.
A military recruiting spokesman said the army had already recruited more than 2,000 young Omanis in the last two weeks and more jobs would be created in the coming weeks.
"We have strict instructions from the Sultan to recruit as many jobless as we can but it will take time to absorb them. These young people must have patience," the spokesman said.
Sultan Qaboos last month ordered the creation of 50,000 jobs but did not specify the time frame. The minister of manpower, Sheikh Abdulla al Bakri, told reporters earlier this week that the government has already recruited about 6,500 people in the last four weeks for the civil ministries.
"Out of 50,000 jobs, 35,000 jobs will come from the government, including the security forces, the rest from the private sector," he said.
Protesters in Oman have demanded political and economic reforms in a wave of demonstrations across the country in the last seven weeks. Two people have been left dead after security forces opened fire on separate occasions.
Sultan Qaboos, who has ruled the country for 40 years, embarked in a series of reforms since the end of February. He sacked 12 ministers and introduced an unemployment benefit of 150 Rials (Dh1,450) per month.
He also increased the salaries of civil servants and pensioners as well as doubling the monthly allowances of the elderly and people with no income.
salshaibany@thenational.ae
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Tributes from the UAE's personal finance community
• Sebastien Aguilar, who heads SimplyFI.org, a non-profit community where people learn to invest Bogleheads’ style
“It is thanks to Jack Bogle’s work that this community exists and thanks to his work that many investors now get the full benefits of long term, buy and hold stock market investing.
Compared to the industry, investing using the common sense approach of a Boglehead saves a lot in costs and guarantees higher returns than the average actively managed fund over the long term.
From a personal perspective, learning how to invest using Bogle’s approach was a turning point in my life. I quickly realised there was no point chasing returns and paying expensive advisers or platforms. Once money is taken care off, you can work on what truly matters, such as family, relationships or other projects. I owe Jack Bogle for that.”
• Sam Instone, director of financial advisory firm AES International
"Thought to have saved investors over a trillion dollars, Jack Bogle’s ideas truly changed the way the world invests. Shaped by his own personal experiences, his philosophy and basic rules for investors challenged the status quo of a self-interested global industry and eventually prevailed. Loathed by many big companies and commission-driven salespeople, he has transformed the way well-informed investors and professional advisers make decisions."
• Demos Kyprianou, a board member of SimplyFI.org
"Jack Bogle for me was a rebel, a revolutionary who changed the industry and gave the little guy like me, a chance. He was also a mentor who inspired me to take the leap and take control of my own finances."
• Steve Cronin, founder of DeadSimpleSaving.com
"Obsessed with reducing fees, Jack Bogle structured Vanguard to be owned by its clients – that way the priority would be fee minimisation for clients rather than profit maximisation for the company.
His real gift to us has been the ability to invest in the stock market (buy and hold for the long term) rather than be forced to speculate (try to make profits in the shorter term) or even worse have others speculate on our behalf.
Bogle has given countless investors the ability to get on with their life while growing their wealth in the background as fast as possible. The Financial Independence movement would barely exist without this."
• Zach Holz, who blogs about financial independence at The Happiest Teacher
"Jack Bogle was one of the greatest forces for wealth democratisation the world has ever seen. He allowed people a way to be free from the parasitical "financial advisers" whose only real concern are the fat fees they get from selling you over-complicated "products" that have caused millions of people all around the world real harm.”
• Tuan Phan, a board member of SimplyFI.org
"In an industry that’s synonymous with greed, Jack Bogle was a lone wolf, swimming against the tide. When others were incentivised to enrich themselves, he stood by the ‘fiduciary’ standard – something that is badly needed in the financial industry of the UAE."
Other key dates
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Finals draw: December 2
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Finals (including semi-finals and third-placed game): June 5–9, 2019
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Euro 2020 play-off draw: November 22, 2019
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Euro 2020 play-offs: March 26–31, 2020
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David Haye record
Total fights: 32
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The biog
Name: Sarah Al Senaani
Age: 35
Martial status: Married with three children - aged 8, 6 and 2
Education: Masters of arts in cultural communication and tourism
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