Tag: Fenner belt spare parts Kuwait

The value of Iran’s oil products export increased 40 percent in the first half of the present Iranian calendar year (March 21-September 22), as compared to the same period of time in the past year, the boar director of Iranian Oil, Gas and Petrochemical Products Exporters Union (OPEX) announced.

Hamid Hosseini said while the six-month export indicates 40 percent growth in value, it fell 20 percent in weight, as compared to the same period of time in the past year.

Major export products included liquefied petroleum gas (LPG), polymers, methanol, bitumen and industrial lubricants, he said.

“It is hoped that we can maintain the 55 percent share of downstream oil and gas industries in the country’s exports”, Hosseini further noted.

The expansion of trade diplomacy, and the activation of chambers of commerce, one of whose tasks is marketing, can be a solution for the development of the share of downstream oil industries, the board director of Iranian Oil, Gas and Petrochemical Products Exporters Union (OPEX), who is also an energy expert, further commented.

Deutsche Hospitality, a leading German hospitality management group, announced the official opening of IntercityHotel, Muscat, as well as, the debut of the much-awaited Steigenberger Residence, Doha.

The announcement was made on Monday, at the Future Hospitality Summit (FHS) 2022. The coming of these new properties boosts Deutsche Hospitality’s presence in Oman to three operational properties.

“The Middle East plays a vital role in the international hospitality industry for owners and operators alike, and FHS is the perfect destination to share and learn from one another. To navigate this new season and leading into the new year, the Summit allows for us to get valuable market insights, opportunity for networking and potential partnerships,” said Siegfried Nierhaus, Vice President Middle East, Deutsche Hospitality.

IntercityHotel, Muscat opened its doors on September 1, located in the Ministry and Embassy district. The hotel includes standard rooms and deluxe suites, as well as, a business floor which includes business rooms and suites. The business floor has added benefits such as early check-ins and late check-outs, VIP in-room amenities and more. The hotel also boats a luxurious spa, an all-day-dining restaurant, meeting rooms and a ballroom.

Steigenberger Residence, Doha is set to open in October, the property will feature 278 furnished apartments, along with amenities like a rooftop swimming pool, gym, yoga room, spa and five restaurants and bars.

“The Qatar hotel segments have a lot of potential as it is accessible for all key tourism source markets, and with the country preparing to host one of the world’s largest sporting events in November, we believe the opening of Steigenberger Residence Doha will be a pivotal step in our expansion journey,” Nierhaus said.

The group’s regional portfolio currently comprises 23 properties in Saudi Arabia, Qatar, Oman, UAE and Egypt. Its worldwide footprint extends to more than 160 hotels across three continents.

SOurce:https://www.arabianbusiness.com/industries/travel-hospitality/german-hospitality-group-launches-new-properties-in-oman-and-qatar

A welcoming billboard is seen along the airport road in Lebanon’s capital Beirut on Wednesday following a campaign by the Tourism Ministry to replace the pictures of political figures with images of natural sites as the country is trying to draw more tourists (AFP photo)

BEIRUT — Lebanon’s economy should receive a welcome injection of more than $3 billion, thanks to a rebound in tourist arrivals over the summer, the tourism minister said on Wednesday.

Lebanon defaulted on its debt in 2020, the local currency has lost around 90 per cent of its value on the black market, and the UN now considers four in five Lebanese to be poor.

While soaring inflation is ravaging households with incomes in Lebanese pounds, the informal exchange rate makes prices attractive to most tourists.

“This summer is promising. We expect more than a million tourists and income of $3-3.5 billion during this summer season,” Minister Walid Nassar said in an interview.

Reservations show that three quarters of the arrivals will be Lebanese nationals from the diaspora, he said.

“The remaining 25 per cent are foreigners hailing mostly from Egypt, Iraq, Jordan and Gulf countries,” Nassar added.

The diaspora had shunned the traditional summer homecoming in recent years, with a deadly 2020 Beirut port blast and biting shortages compounding pandemic-linked restrictions.

The sector had been one of the pillars of Lebanon’s economy, bringing in around $10 billion annually.

Global tourism is roaring back to life after the COVID-19 pandemic, and Lebanon has been keen to draw tourists and their cash dollars.

Despite crumbling infrastructure and massive electricity shortages, the tourism ministry launched a large PR campaign to promote the country as a destination.

With central bank coffers critically depleted and foreign aid hinging on reforms, a summer tourism windfall could buy Lebanon more time.

The country’s top political and security brokers “are aware of how important it is for this summer season to be a success”, Nassar said.

Source:https://www.jordantimes.com/news/business/lebanon-hopes-summer-promising-business-%E2%80%94-minister

Dar Al Arkan, the Saudi-based real estate company, and Oman Tourism Development Company have signed an agreement to develop AIDA, one of the largest mixed-use real estate projects in the sultanate.

The project marks Dar Al Arkan’s first entry into Oman and the value of the investment from both parties will reach SR6 billion ($1.6 billion).

The project will be developed in three stages on an area of 3.5 million square metres, a statement said.

Through the partnership, Dar Al Arkan will develop a mixed-use project in Yiti and Yankat areas, as part of a large master development, situated 100m above the shores and overlooking the Sea of Oman in Muscat.

It will comprise 3,500 residential villas, townhouses, and low-rise apartments, two hotels of 450 rooms, a plaza filled with cafes and restaurants and a gated promenade with luxury retail and other amenities.

Ziad El Chaar, vice chairman of Dar Al Arkan Properties, said: “We are excited to become part of this unique project. Oman has always offered an exceptional experience for residents and tourists, and the development of Yiti and Yankat areas will further elevate the nation’s offering and position it as a world-class destination.

“AIDA sits atop one of the world’s highest peaks, a place where all the noise is quietened, composing a beautiful symphony. Overlooking one of the most breath-taking horizons in the world, will lie a place bubbling with inspiration.”

Hashil Bin Obaid Al Mahrouqi, CEO of Omran Group, added: “We are delighted to work with Dar Al Arkan on this master project that is being developed with world class expertise… The project is strategically designed as an extension to Muscat city to showcase the vision of progress and sustainable urbanisation.

“AIDA will become an attractive and sought-after destination with its many residential, entertainment, cultural, retail and recreational offerings that will put Oman on the regional and global tourism map, as well as drive foreign investment and stimulate key economic sectors that will help achieve Oman Vision 2040.”

The project is one of the largest urban developments in Oman, extending to a total area of over 11 million square kilometres.

Headquartered in Riyadh, Dar Al Arkan is fast-growing its portfolio across the kingdom and expanding its international footprint to Dubai, Qatar and Bosnia.

Source:https://www.arabianbusiness.com/industries/construction/saudis-dar-al-arkan-set-to-make-oman-debut-with-1-6bn-aida-project

In a move that seeks to align the information and communication technology (ICT) strategies of Dubai’s government entities with the emirate’s digital transformation objectives, Sheikh Hamdan bin Mohammed bin Rashid Al Maktoum, the Crown Prince of Dubai and Chairman of The Executive Council of Dubai, has issued Executive Council Resolution No. (15) of 2022.

According to the resolution, the Digital Dubai Authority in collaboration with relevant government entities, will develop policies across all areas concerned with achieving the government’s plans for digital transformation.

These policies will include the ICT annual budget of government entities; shared digital services of government entities; data centres and the Government of Dubai’s cloud services, among other areas.

The resolution also aims to mitigate the risks associated with digitalisation initiatives launched by the government, the state-run news agency, Wam, reported.

While ensuring the optimal use of existing infrastructure, data, and services, the resolution also aims to develop procedures that will ensure ICT compatibility and integration at the government level.

The Director General of Digital Dubai Authority is authorised to approve the policies introduced pursuant to the resolution and their amendments. Policies that have been approved must be published on the authority’s website.

According to the resolution, Digital Dubai Authority is tasked with overseeing the implementation of the policies across various stages, notifying government entities about the approved policies, and providing government entities with technical assistance to implement the policies.

The authority is also tasked with preparing regular reports to be shared with The Executive Council on the adherence of government entities to these policies.

Dubai Crown Prince issues ICT resolution to develop policies on digital services for the government
The ICT resolution seeks to ensure the optimal use of existing infrastructure, data, and services, while mitigating the risks associated with digitalisation initiatives.

Sheikh Hamdan ICT
In a move that seeks to align the information and communication technology (ICT) strategies of Dubai’s government entities with the emirate’s digital transformation objectives, Sheikh Hamdan bin Mohammed bin Rashid Al Maktoum, the Crown Prince of Dubai and Chairman of The Executive Council of Dubai, has issued Executive Council Resolution No. (15) of 2022.

According to the resolution, the Digital Dubai Authority in collaboration with relevant government entities, will develop policies across all areas concerned with achieving the government’s plans for digital transformation.

These policies will include the ICT annual budget of government entities; shared digital services of government entities; data centres and the Government of Dubai’s cloud services, among other areas.

The resolution also aims to mitigate the risks associated with digitalization initiatives launched by the government, the state-run news agency, Wam, reported.

While ensuring the optimal use of existing infrastructure, data, and services, the resolution also aims to develop procedures that will ensure ICT compatibility and integration at the government level.

The Director General of Digital Dubai Authority is authorised to approve the policies introduced pursuant to the resolution and their amendments. Policies that have been approved must be published on the authority’s website.

According to the resolution, Digital Dubai Authority is tasked with overseeing the implementation of the policies across various stages, notifying government entities about the approved policies, and providing government entities with technical assistance to implement the policies.

The authority is also tasked with preparing regular reports to be shared with The Executive Council on the adherence of government entities to these policies.

GITEXSTARS2019-Hamad Obaid Al Mansoori
Hamad Obaid Al Mansoori, Director General of Digital Dubai Authority
The Director General of Digital Dubai Authority will issue a decision specifying the timeframe for implementing the policies for government entities.

The decision will also determine the start date for each phase, the government entities that must implement each policy, as well as the implementation procedures for each phase.

According to the resolution, government entities are required to implement the policies as per the timeline set by the Director General of Digital Dubai Authority and fully adhere to them.

They must also provide the authority with specific data and reports on a regular basis, among other requirements.

The resolution annuls any other legislation that may contradict with it and is effective from its date of issuance and will be published in the official gazette.

Source:https://www.arabianbusiness.com/politics-economics/dubai-crown-prince-issues-ict-resolution-to-develop-policies-on-digital-services-for-the-government

Asian shares were mostly lower on Monday after a retreat on Wall Street, as investors watched for developments in Ukraine after Russia rescinded earlier pledges to pull tens of thousands of its troops away from Ukraine’s northern border.

Tokyo, Seoul, Hong Kong and Shanghai declined while Sydney advanced.

Russia is a major energy producer and a military conflict also could disrupt energy supplies and make for extremely volatile energy prices.

Tokyo’s Nikkei 225 index lost 0.8% to 26,910.87, while the Hang Seng in Hong Kong shed 1.1% to 24,062.67. In Seoul, the Kospi gave up 0.2% to 2,739.59 and the Shanghai Composite index fell 0.4% to 3,476.47. India’s Sensex lost 0.2% and Thailand’s benchmark was 0.5% lower.

Australia’s S&P/ASX 200 gained 0.2% to 7,233.60 as the country reopened its borders to more international travel after nearly two years of being mostly sequestered due to the pandemic.

Outbreaks of coronavirus fueled by the highly contagious omicron variant are also a worry. A preliminary reading on factory data for Japan on Monday showed a sharp drop in the manufacturing purchasing manager’s index, to 52.9 from 55.4 on a 0-100 scale where readings above 50 indicate expansion.

But analysts said they expect activity to rebound as the latest wave of infections subsides.

In Australia, shares in AGL, the country’s biggest electricity generator, jumped 10% after it said it had rejected an 8 billion Australian dollar ($5.8 billion) takeover bid from tech billionaire Mike Cannon-Brookes and Canadian investment firm Brookfield.

Shares in software company Atlassian, founded by Cannon-Brookes, fell 2%.

On Friday, stocks capped a week of volatile trading on Wall Street with a broad sell-off.

The S&P 500 lost 0.7% to 4,348.87 while the Dow Jones Industrial Average also slipped 0.7%, to 34,079.18. The Nasdaq composite bore the brunt of the selling, skidding 1.2% to 12,548.07. Small company stocks also fell, with the Russell 2000 index down 0.9% to 2,009.33.

Treasury yields fell Friday, as investors shifted money into the safety of US bonds. The yield on the 10-year Treasury, which affects rates on mortgages and other consumer loans, was steady at 1.93% early Monday.

Markets have been hit by worries over how companies will cope with inflation at decades-high levels in many countries, and over whether consumers might pull back on spending to cope with higher costs for most things.

Wall Street is looking ahead to determine how markets will react to a more aggressive monetary policy from the US Federal Reserve as it begins tightening after two years of ultra-low interest rates and other supportive measures.

source:https://timesofoman.com/article/113547-asian-shares-end-mostly-lower-as-investors-eye-ukraine-crisis