Kuwait ranks 11th globally for air quality: Swiss report

In a recent report released by the Swiss organization “IQ Air,” Kuwait emerged as the 11th country worldwide in terms of air quality, ranking 134 countries and regions based on air pollution levels with fine PM 2.5 particles. Meanwhile, Bangladesh topped the list as the most polluted country according to this indicator.

Within the Arab world, Kuwait secured the fourth spot on the list, following Iraq, the Emirates, and Egypt. Notably, only seven countries out of the 134 included in the report, including Australia, Estonia, Finland, Grenada, Iceland, Mauritius, and New Zealand, met the World Health Organization’s guidelines for small airborne particles emitted by vehicles and industrial facilities.

In the context of global capitals, Kuwait City was ranked 13th among the world’s capitals with air pollution attributed to PM 2.5 particles, trailing behind Baghdad and Cairo in the Arab region.

IQ Air emphasized that the majority of countries fall short of meeting the WHO standard for PM 2.5 particles, which are microscopic soot specks smaller than the width of a human hair.

SOurce:https://www.arabtimesonline.com/news/kuwait-ranks-11th-globally-for-air-quality-swiss-report/

Kuwait cracks down on cardboard waste exports for environmental revival

Scion Industrial News

Abdullah Al-Joaan, the Minister of Trade and Industry and Chairman of the Board of the Public Authority for Industry, has issued a decree prohibiting the export and re-export of cardboard waste for three months. This directive will take effect upon its publication in the Official Gazette.

The decision aims to foster the adoption and advancement of a national Extended Producer Responsibility system within projects related to cardboard packaging recycling.

Cardboard holds significant importance for numerous Kuwaiti factories engaged in producing consumer goods for the local market at affordable prices. Moreover, local factories have a monthly demand of approximately 30 thousand tons of cardboard, a requirement that cannot be met solely through the local market without the implementation of cardboard recycling.

It is important to highlight the significance of recycling industries in Kuwait, which prioritize environmental preservation, reduction of natural resource consumption, and adoption of cutting-edge technologies observed in developed nations. These efforts contribute to various economic and investment advantages for the commercial and industrial sectors.

SOurce:https://www.arabtimesonline.com/news/kuwait-cracks-down-on-cardboard-waste-exports-for-environmental-revival/

In Lebanon, manufacturers mull stark choices to stay in business

Scion Industrial Engineering

On a recent afternoon at the Oriental Paper Products factory just outside of Beirut, more than a dozen workers were busy on the factory floor, grateful for their jobs producing notebooks, papers, and office supplies.

But one level up, in CEO Ziad Bekdache’s office, the mood was far grimmer. Not for the first time, the industrialist found himself adjusting his employees’ salaries to compensate for yet another fall in the Lebanese pound.

The numbers shuffling pushed him more step closer to a reckoning he’s managed to put off since the country first plunged into economic crisis more than two years ago.

“We have a problem,” Bekdache told Al Jazeera. “We industrialists are rooted here in Lebanon, but when you have a noose around your neck, you can either try to struggle or decide to leave.”

Oriental Paper Products opened its factory in 1955. During the decades, it has exported products to countries across Europe, the Middle East and North Africa. But maintaining its foothold in Lebanon has become increasingly untenable.

The Lebanese pound has lost more than 90 percent of its value since October 2019. The country’s eye-watering inflation is currently among the highest in the world, even topping Venezuela and Zimbabwe’s in the latter half of this year . Three-quarters of the population live in poverty, and hundreds of thousands of families are in desperate need of aid just to keep food on the table.

Bekdache, who is also the vice president of the Association of Lebanese Industrialists, says Lebanon’s current crisis did not happen overnight but was the product of decades of poor economic planning that saw successive governments prioritise tourism and banking over manufacturers.

“This is what bankrupted the country, the government wasted public resources and neglected productive sectors,” he said. “After they bankrupted the country, they’re all of a sudden talking about promoting the productive sectors. Well, they’re 25 years late.”

Last month, Bakdache and his fellow manufacturers were dealt yet another devastating blow when a diplomatic dispute led Saudi Arabia to declare an all-out ban on products imported from Lebanon.

“Many industrialists are now looking for a plan B,” said Bekdache “They have a few options, like closing here and moving elsewhere, opening a second factory abroad to be their hub for exports, or downsizing to cut costs.”

Bekdache is especially loath to let staff go. “I have about 70 workers and employees here, most who have worked for over 20 years,” he said. “We work closely, we know about our ups and downs – can I just walk up to them and say, ‘Thank you, goodbye, and good luck?’”

Shrinking lines of credit
Prices of raw materials have spiked around the world this year thanks to supply chain snarls and shortages stemming from pandemic disruptions. But in Lebanon, the sharp depreciation of the pound and a growing scarcity of foreign exchange has only exacerbated those price pressures.

Bekdache and some of his fellow manufacturers have managed to weather that storm thanks to a 2020 financing scheme spearheaded by Lebanese expatriates called the Cedar Oxygen Fund – a private initiative that has also garnered support from Lebanon’s central bank.

But Bekdache said a longer-term solution is needed. “The Central Bank put $550m into the initiative and we’re thankful, but this is not an alternative for the future.”

With the country’s financial sector over a barrel, lines of credit firms normally depend on to fund day-to-day operations and invest in new equipment have also dried up.

“We’re now working in a cash-based economy that has both its pros and cons. We’re able to secure our primary materials, but we don’t have that extra money to invest in machinery,” Bekdache explained as he inspected the factory. “And you know, in industry, if you don’t upgrade your machinery, you might as well close for good.”

Compounding the problem – revenue from domestic customers has evaporated during the crisis.

“When local consumption shrunk, we turned to exports to generate revenue,” Bekdache said.

But most of his new business abroad centred on Saudi Arabia and Gulf countries, with the kingdom accounting for roughly half of Oriental Paper Products’ exports.

Bekdache said several shipments that were en route to Saudi Arabia are now stuck in transit and he fears his clients in the kingdom will simply turn to another supplier if trade ties are not restored soon.

He and other industrialists have estimated that exports to Saudi Arabia were to double in 2022 before the ban.

‘Dark tunnel’
There is no sign of relief on the horizon for Lebanon’s manufacturers. The diplomatic argument with Gulf states led by Saudi Arabia remains unresolved. Meanwhile, the Lebanese government under billionaire Prime Minister Najib Mikati has not met in more than two months, thanks to partisan political squabbling about the lead investigator of the Beirut Port blast.

Lebanon has yet to mount a credible financial reform blueprint that it needs to secure a bailout from the International Monetary Fund and put the economy on the road to recovery.

The recently appointed government hopes to reach a preliminary agreement with the fund by the new year. But Central Bank Governor Riad Salameh said on Tuesday that discussions about financial losses and other numbers are still ongoing and that Lebanon has not presented an economic recovery plan to the international organisation yet.

With more than two years of policy inaction, Bekdache said that Lebanon is stuck in a “dark tunnel”.

“We don’t know where this tunnel ends, and there is no light,” he said.

And in that void, he said, is a failed economy that is rife with smuggling, tax evasion, and endemic corruption, and in which manufacturers like him are now targeted by opportunists trying to profit from a broken system.

Bekdache recalled the tale of a colleague who received a call from someone at the port of Beirut offering to let him bypass $20,000 in customs and fees on the goods he had imported if he were willing to pay the person $5,000 under the table – a slippery deal Bekdache said his fellow manufacturer rejected.

“The man at the port then said, ‘You’re jackasses, and will always be jackasses,’ and simply hung up,” Bekdache said.

The episode, he said, demonstrated that persistence can only keep Lebanon’s industrialists viable for so long.

Source:https://www.aljazeera.com/economy/2021/12/23/in-lebanon-manufacturers-mull-stark-choices-to-stay-in-business

MSX index rises marginally in weekly trading

The industrial sector recorded the best performance among the indices of the Muscat Stock Exchange in last week’s trading.

The industrial sector index rose during the week’s trading to the level of 6,170 points, recording its best level in 3 weeks, but it was unable to maintain these gains and ended the trading at 6,150 points, recording a weekly increase of 58 points.

This rise came in conjunction with the Sultanate of Oman’s ranking 56th in the world and fifth in the Arab world in the Competitive Industrial Performance Report for the year 2023 issued by the United Nations Industrial Development Organisation (UNIDO), which indicated that the Sultanate of Oman had achieved an improvement in diversifying industrial activities from the added value of the industrial sector. Increasing the volume of industrial exports from the volume of global industrial exports.

The past week also witnessed a good performance for the financial sector index, which rose by 48 points and closed at 7,867 points.

The benchmark main index rose by three points and closed at 4,783 points, while the services sector index declined by 6 points, and the Sharia index recorded a decline of two points.

Last week witnessed an increase in the shares of Voltamp Energy and National Gas, Oman Cables Industry, Al-Saffa Foods, Raysut Cement, Building Materials Industry, Oman Mills and Oman Cement. These increases stimulated investors to buy shares of industrial companies.

Trading value increased last week by 61 percent, exceeding OMR15.1 million, compared to transactions amounting to OMR9.3 million in the previous week. However, the number of deals executed declined by 6.6 percent from 2,015 deals to 1,881 deals.

Last week, the Muscat Stock Exchange recorded gains in its market value by OMR36.70 million to rise at the end of Thursday’s trading to OMR23.91 billion.

Source:https://timesofoman.com/article/134419-msx-index-rises-marginally-in-weekly-trading

Oman plans new global vaccine, drug development factory

scion industrial engineering pvt. ltd.

Opal Bio Pharma (OBP), a pharmaceutical company in Oman, has begun the construction of the country’s first factory dedicated to manufacturing essential medicines and vaccines.

The foundation stone for this groundbreaking facility was laid at Khazaen Economic City, with an estimated cost of OMR60 million ($156 million), according to a report by Times of Oman.

Spanning an area of 37,000 square meters, the factory’s construction will occur in two phases, with the second phase costing approximately OMR60 million.

The implementation of the project is expected to be completed within two years. The facility is projected to commence production in the final quarter of next year, marking a major milestone for the country’s healthcare industry.

Oman’s emergence in the pharmaceutical industry
The primary objective of this project is to establish local production capabilities for vaccines and medicines, aiming to reduce dependence on imports, particularly during times of crises and pandemics.

By boosting domestic production, Oman aspires to achieve drug security and strengthen its healthcare infrastructure.

The Chairman of the Board of Directors of Opal Bio Pharma said that the factory, the first of its kind in the Sultanate and the Middle East region, will not only cater to the local market but also export vaccines and vital medicines worldwide.

This landmark achievement positions Oman as a significant player in the global pharmaceutical industry.

Souce:https://www.arabianbusiness.com/industries/healthcare/oman-plans-new-global-vaccine-drug-development-factory-report

Oman announces new law change for employees

Scion Industrial Engineering

The new Oman Labour Law terminates the need for employers to withhold employee passports

Sultan Haitham bin Tarik of Oman recently issued a new labour law aimed at ensuring a fair and balanced relationship between employers and employees while promoting transparency in labour practices.

The Labour Law 53/2023, this legislation, issued via Royal Decree, features various provisions to protect workers’ rights and outline the circumstances under which an employer can terminate an employee’s service.

Article 43 of the law specifically focuses on the conditions of employee termination, providing clarity on the matter.

The law allows termination if an employee fails to meet required performance standards. However, employees are granted a six-month grace period to improve their performance, and if the level remains unsatisfactory, termination may occur.

For Omani employees, the company must replace them with another Omani national in such cases.

The law also allows for termination in situations like a business shutdown, bankruptcy declaration, a reduction in the scope of business activities, or implementation of an alternative production system affecting staffing needs.

Moreover, economic factors may necessitate employee termination, but this requires the employer to submit an application to a committee within the Ministry of Labour for approval.

New Oman labour law changes protect expat workers
Expat workers are also protected under this law. Employers are prohibited from holding their passports or private documents without written consent.

If an expat worker is dismissed, they have the right to file a complaint within 30 days of notification.

The new labour law ensures employee leave entitlements, including a minimum of thirty days of annual leave after six months of employment and the ability to combine leaves based on mutual agreement.

Non-Omani workers are entitled to a return air ticket to their home country, and they receive their full wage during official holidays.

The law also permits employers to grant unpaid special leave based on the worker’s request and subject to conditions.

Additionally, the law mandates a six-month grace period for performance improvement before termination and emphasises the need for employers to maintain an attractive work environment.

Provisions for the transfer of workers to different projects and the requirement to hire Omanis for old projects with equal wages and benefits further enhance the law’s equitable approach.

Other aspects of the law address temporary job assignments, shifts changes based on ability, an hour of childcare for women after childbirth, and the necessity for sick leave applications to be approved by the Ministry of Health from private hospitals.

Source:https://www.arabianbusiness.com/jobs/oman-announces-new-law-change-for-employees

Alba’s CEO inaugurates annual Majlis sessions

Aluminium Bahrain (Alba) Chief Executive Officer Ali Al Baqali inaugurated the the company’s Annual Majlis for 2023 on Tuesday (January 17) at the Oasis Hall.

Attended by Alba’s executives, directors, and managers, the opening session shed the light on the successes Alba celebrated in 2022 as well as lessons learnt as the company journeys in 2023.

The CEO also unveiled the company’s 2023 objectives: 1) Safety is Our Operating License, 2) Al Hassalah Top Up, 3) Be Ready to Take off Safely, and 4) Don’t Limit Yourself, which will guide the company to taken actions in the present and turn market challenges into opportunities.

Al Baqali said: “No one ever got anywhere by staying in one place. We want to leap forward in 2023 by working collectively together to be a force for change in line with Bahrain’s Economic Vision 2030. This platform sets us on the right path to make our future happen today and this can be done if we do it together as one team.”

The CEO’s Annual Majlis sessions will continue till Thursday and will be delivered in a hybrid format for employees and contractors’ workers across Alba. These sessions aim to foster two-way communication between the CEO and the company’s workforce as well as provide guidance to focus on Alba’s vision.

Source:https://www.abc-bahrain.com/News/1/343087

Asia presents the best investment opportunities: SCB

scion industrial engineering pvt. ltd.

Investors need to look to the Asian region for the best investment opportunities in the short and medium term, said Steve Brice, Global Chief Investment Officer at Standard Chartered Bank.

Providing his outlook for 2023, Brice said there will be a slowing of global inflation and fewer federal interest rate rises in the first half of the year, followed by a decline in the second half of the year.

Brice noted that the economic slowdown should help cool inflation significantly but cautioned that inflation will not return to 2% levels in the foreseeable future.

China the exception
The exception to this will be seen in China, which is expected to achieve high growth rates as a result of the lifting of Covid restrictions and a shift in policy focus towards stabilising growth and improving opportunities for companies, investors and consumers.

“2022 was the toughest year for investors that I have seen during my 25-year career. It is only the fourth year in a century-and-a-half that US stocks and bonds have depreciated so rapidly,” Brice told an economic briefing for over 70 clients and guests in Bahrain.

He said although China is expected to rebound, a recession in the US is inevitability due to interest rate hikes, while Europe’s recession will be precipitated by increased energy prices.

Dr Boutros Klink, CEO of Standard Chartered Bahrain and the Middle East (ex UAE), said: ‘We are delighted to have had Steve with us in Bahrain this week where he shared his expert and economic insights for this year with our valuable clients. We continuously work on making tools and information available to clients for them to make informed financial decisions. As a financial institution that has been in Bahrain for over 100 years, we are committed to continue to share our expertise with our clients and contribute to the kingdom’s economic growth and development.

Source:https://www.abc-bahrain.com/News/1/343138

Bahrain origin products’ exports jump 24% in 2022

Scion Industrial Engineering

The value of exports of Bahrain origin products increased 24%, reaching BD4.967 billion ($13.18 billion) during 2022, compared to BD3.994 billion in the previous year.

The value of imports into Bahrain increased 10% in 2022, reaching to BD5.842 billion, compared to BD5.316 billion for the previous year, said the foreign trade report of 2022 released by the Information &eGovernment Authority (iGA).

Bahrain recorded a trade deficit of BD155 million during 2022 compared to a deficit of BD643 million for the previous year.

The top 10 countries accounted for 69% of the value of imports, while the remaining countries accounted for 31%,

According to the report, imports from China ranked first with a total value of BD845 million, Brazil was the second with BD620 million, and Australia was the third with BD509 million.

Non-agglomerated iron ores and concentrates was the top product imported into Bahrain with a total value of BD698 million, while aluminum oxide was second with BD468 million, and parts for airplanes third with BD168 million.
The top 10 countries in terms of the value of exports of national origin accounted for 72% of the total value, while the remaining countries accounting for 28%, the report said.

The Kingdom of Saudi Arabia ranked first among countries receiving Bahraini exports of national origin, importing BD983 million from Bahrain. The US was second with BD694 million and the UAE was third with BD465 million.

Unwrought aluminum alloys emerged as the top products exported during 2022 with a value of BD1.75 billion, agglomerated iron ores and concentrates alloyed was second with a value of BD798 million and unwrought aluminum not alloyed third with BD245 million.

The total value of re-exports increased by 6% to reach BD720 million during 2022, compared with BD679 million for the previous year.

The top 10 countries accounted for 83% of the re-exported value, while the remaining countries accounted for the 17%.
Saudi Arabia ranked first with BD163 million, the UAE second with BD152 million, and Singapore third with BD104 million.

Airplane parts was the top product re-exported from Bahrain worth BD113 million.

Source:https://www.abc-bahrain.com/News/1/343337

Regional partnership ‘can benefit Bahrain’s manufacturing sector’

The Integrated Industrial Partnership for Sustainable Economic Development between Bahrain, the UAE, Egypt and Jordan provides opportunities for growth, especially in the aluminum and petrochemical manufacturing sector in Bahrain, Minister of Industry and Commerce Abdulla bin Adel Fakhro has said.

The minister was speaking after conducting an inspection visit to Aluminum Bahrain (Alba). Alba Chairman Shaikh Daij bin Salman bin Daij Al Khalifa and Chief Executive Officer of Alba Ali Al Baqali, and other officials were also present, said a Bahrain News Agency report.

The minister praised the role of industrial companies in Bahrain in developing the national economy, supporting the objectives of the Industrial Sector Strategy (2022-2026) and implementing the objectives of the 2030 Economic Vision.

He noted that the Industrial Sector Strategy targets a number of industries and aligns with the Integrated Industrial Partnership for Sustainable Economic Development initiative.

The initiative also offers opportunties for clean industries, including renewable energy and green and blue hydrogen, which support Bahrain’s commitment to reach zero neutrality by 2060, along with food, pharmaceutical, and microelectronics industries.

The minister toured the company and took stock of the progress of work on the sixth smelting line project, praising Alba’s standing as the largest aluminum smelter in the world, the report said.

Source:https://www.abc-bahrain.com/News/1/343535