Duqm Economic Forum-Unveiling Oman’s Green Economic Revolution and Investment Potential
The First Duqm Economic Forum has concluded, leaving a remarkable impact on Oman’s economic vision. It highlighted the pivotal role of the Special Economic Zone at Duqm (SEZAD) in fostering renewable energy, green manufacturing, and global trade. Duqm is pioneering the nation’s journey toward a green economy by utilizing solar and wind-generated energy. The forum showcased Oman’s potential as a future renewable energy superpower, with a special focus on a green steel industry cluster. Young entrepreneurs also took center stage, reflecting the nation’s innovative spirit and ambition. This forum marks a significant step towards Oman’s sustainable and prosperous future.
Lenskart Partners with ETML to Boost Middle East Expansion
Eyewear retail giant Lenskart has joined forces with ETML, a growth advertising and analytics firm, to enhance its performance marketing efforts in the Middle East. With a focus on data and analytics, ETML aims to deliver significant value to Lenskart as the brand expands its international footprint. Aina Garg, Managing Director-Middle East at Lenskart, expressed optimism about achieving marketing goals through this partnership. Lenskart, known for its tech-driven approach, operates over 2000 physical stores, including 500 abroad, reflecting its commitment to global growth.
Oman’s Minister Spearheads Global Economic Dialogue at G20 Summit
Qais al Yousef, Oman’s Minister of Commerce, Industry, and Investment Promotion, is leading a prominent delegation to the G20 Trade and Investment Ministerial Meeting in Jaipur, India, followed by the B20 Forum in New Delhi. Amidst the backdrop of ‘One Earth, One Family, One Future,’ the discussions will rejuvenate multilateral trade for global growth, leverage technology for seamless transactions, and fortify resilient trade mechanisms. Yousef’s participation underscores Oman’s commitment to fair, rules-based global trade, aligning with the visionary Oman Vision 2040 while emphasizing the pivotal role of technology in fostering inclusive economic progress and sustainable development.
Bahrain’s Agricultural Sector Flourishes; Record-Breaking Production and Exports
Bahrain’s agricultural sector has witnessed a remarkable upswing, with an impressive 36 percent rise in production, totaling nearly 13,000 tonnes of crops and fruits in 2022. The surge is attributed to factors such as the expansion of greenhouses, which increased by 54 percent over seven years, creating an ideal environment for year-round cultivation. This growth has been supported by a growing workforce, with over 4,300 individuals employed in the sector, including Bahraini nationals and expatriate workers. The nation’s agricultural success is further highlighted by a substantial export increase, soaring by 220 percent to $159 million in 2022. Amid global challenges, Bahrain’s agricultural achievements underscore its commitment to sustainable growth and food security.
Singapore Stock Market Surges Amid Global Optimism and Positive Earnings Reports
The Singapore stock market showed resilience in the face of recent volatility, bouncing back on Wednesday with positive sentiment amid global economic optimism. After experiencing a dip in two of the past three trading days, the Straits Times Index (STI) is set to regain momentum, reflecting the upbeat outlook for interest rates.
Kuwait’s Money Supply Shows Modest Increase, Reflecting Stable Economic Outlook
Kuwait’s Central Bank has reported a modest increase in the country’s money supply, highlighting stable economic conditions and positive trends within the financial sector. Despite a decline in foreign currency deposits, the rise in private sector deposits demonstrates growing confidence in Kuwait’s banking system. The central bank’s prudent monetary policies and consistent interest rates contribute to the country’s economic resilience and attractiveness to domestic and international investors. As Kuwait continues strengthening its position as a regional financial hub, these indicators bode well for sustained growth and stability.
EXCLUSIVE Ford set to announce plans to run EV, ICE as separate businesses -sources
Ford Motor Co (F.N) on Wednesday will announce a reorganization under which its electric vehicle (EV) and internal-combustion engine (ICE) units will be run as separate businesses in a move to fast track growth in EVs, three people familiar with the plan said.
