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Times of Oman
5 days ago
- Business
- Times of Oman
Creative & cultural industries: A driver of knowledge transformation
Muscat: Creative and cultural industries play a vital role in supporting the global knowledge and innovation economy, with their contributions growing significantly alongside each phase of the industrial revolution and technological advancement. These industries serve as a fundamental source of value addition to the gross domestic product (GDP), while diversifying national income streams and enhancing financial sustainability. The Sultanate of Oman places increasing emphasis on strengthening the role of culture, heritage, and arts as key pillars of national development. One of the objectives under the "Citizenship, Identity, National Heritage, and Culture" priority in Oman Vision 2040 highlights the need for sustainable investment in heritage, culture, and the arts to contribute to national economic growth and diversification. Dr. Salim Mohammed Al Hinai, Assistant Professor at the College of Arts and Sciences at the University of Nizwa, stated in a comment to Oman News Agency (ONA): "Creative industries, within the local and national context, are defined as a set of sectors reliant on innovation and individual talent, transforming ideas into economically viable products and services. These industries encompass traditional crafts, visual arts, literature and publishing, music, cinema, design, and digital media." He added: "Significant progress has been made in the production of Omani daggers, silver jewelry, and traditional textiles, particularly in Nizwa and Sohar. In graphic design and digital content production, there is a notable trend on social media platforms, along with advancements in Omani cinema, yielding both local and international results. Culturally, events such as the Muscat International Book Fair and the Muscat International Film Festival highlight the sector's vitality in reinforcing Omani identity through national and local culture and economy." He emphasized that creative industries play an increasingly important role in revitalizing various aspects of Oman's economy and promoting alternative, sustainable models. This, he said, helps generate creative employment opportunities for Omani youth in design, traditional crafts, and digital content, serving as an alternative to reliance on traditional sectors. He explained that these industries enhance cultural tourism by linking authentic Omani heritage with modern products and industries. They also unlock potential in the digital economy through e-platforms for local and global marketing. Additionally, they provide high added value at relatively low investment costs, fostering international partnerships that showcase Omani culture worldwide. As for the role of small and medium enterprises (SMEs) in supporting creative industries as a key tributary of the knowledge economy, Badriya Mohammed Al Foori, Director of the Entrepreneurship Department at the SME Development Authority (Riyada) told ONA: "The Riyada program places great emphasis on strengthening the creative industries ecosystem as an economic and cultural driver that reinforces national identity and enhances Oman's soft power." She added that Riyada empowers creative thinkers and innovators through integrated programs, including specialized training, technical mentorship, incubation initiatives, and financial facilitation. It also provides a stimulating business environment that transforms creative ideas into sustainable projects through specialized entrepreneurship centers in creative industries. She noted that Riyada builds strategic partnerships with cultural, educational, and community institutions to optimize investment in Omani intellectual heritage and produce contemporary cultural content. She stressed that creative industries present a promising opportunity for income generation, job creation, and enhanced competitiveness—provided they receive the right legislative and institutional framework and a skilled national workforce to lead this vital sector. On his turn, Murtadha Abdulkhaliq Al Lawati, Director General of the Museum of Place and People, stated that Omani traditional industries embody a rich civilizational legacy rooted in daily human needs and refined by the innate craftsmanship of Omani artisans, renowned for their creativity and precision. He noted that these industries transcend functionality to become a visual and cultural expression reflecting the beauty of Omani life and showcasing national identity in its finest form. He added that these industries receive widespread attention for their artistic and intellectual value across eras, contributing to the transmission of cultural heritage to future generations while preserving the creative spirit unique to Omanis. He mentioned that traditional crafts have captivated global audiences due to their meticulous craftsmanship, expressive richness, and profound civilizational message, standing as a living testament to the success of Omani industries in cementing their global presence. Speaking on the development of traditional industries, he emphasized in a statement to ONA that innovation should not erase the essence of any local craft. Omani creativity is deeply rooted in artistic and cultural identity and cannot be separated from the expressive and visual context that defines these industries. He noted that traditional arts are a key driver of cultural tourism and should be nurtured while preserving their essence without altering their original uses, maintaining their civilizational, economic, and sentimental value for Oman and the world. Meanwhile, Khalid Sulaiman Ambosaidi, owner of Manazil Inn in Nizwa's Al-Aqr neighborhood, told ONA: "The Manazil Inn project preserves Omani cultural heritage without altering any element, requiring no restoration. It highlights the site's true symbolic value using heritage materials and colors inspired by traditional Omani architecture, with windows and doors designed in classic wooden styles." He added that such creative projects extend beyond domestic impact, shaping a positive global image of Oman as a nation that cherishes its heritage and employs creative industries to showcase national identity. He affirmed that meticulous restoration and authentic cultural tourism experiences reflect the ability of creative industries to bridge past and present while fostering cultural awareness and belonging among both locals and visitors. On mechanisms for developing creative industries amid rapid digital transformation, he stressed the need for specialists in restoring and preserving heritage houses, ensuring their features vividly narrate Oman's historical life. He noted that boosting creative industries in the digital age requires collaborative institutional and societal efforts to leverage modern technologies in documentation and promotion, preserving national heritage as a sustainable cultural and economic resource.
Yahoo
6 days ago
- Business
- Yahoo
Is Now The Time To Put Transmetro (ASX:TCO) On Your Watchlist?
Explore Transmetro's Fair Values from the Community and select yours Investors are often guided by the idea of discovering 'the next big thing', even if that means buying 'story stocks' without any revenue, let alone profit. But as Peter Lynch said in One Up On Wall Street, 'Long shots almost never pay off.' Loss-making companies are always racing against time to reach financial sustainability, so investors in these companies may be taking on more risk than they should. So if this idea of high risk and high reward doesn't suit, you might be more interested in profitable, growing companies, like Transmetro (ASX:TCO). Even if this company is fairly valued by the market, investors would agree that generating consistent profits will continue to provide Transmetro with the means to add long-term value to shareholders. We've found 21 US stocks that are forecast to pay a dividend yield of over 6% next year. See the full list for free. Transmetro's Earnings Per Share Are Growing If a company can keep growing earnings per share (EPS) long enough, its share price should eventually follow. So it makes sense that experienced investors pay close attention to company EPS when undertaking investment research. Shareholders will be happy to know that Transmetro's EPS has grown 24% each year, compound, over three years. If the company can sustain that sort of growth, we'd expect shareholders to come away satisfied. It's often helpful to take a look at earnings before interest and tax (EBIT) margins, as well as revenue growth, to get another take on the quality of the company's growth. It's noted that Transmetro's revenue from operations was lower than its revenue in the last twelve months, so that could distort our analysis of its margins. EBIT margins for Transmetro remained fairly unchanged over the last year, however the company should be pleased to report its revenue growth for the period of 18% to AU$24m. That's progress. You can take a look at the company's revenue and earnings growth trend, in the chart below. To see the actual numbers, click on the chart. See our latest analysis for Transmetro Since Transmetro is no giant, with a market capitalisation of AU$27m, you should definitely check its cash and debt before getting too excited about its prospects. Are Transmetro Insiders Aligned With All Shareholders? Theory would suggest that it's an encouraging sign to see high insider ownership of a company, since it ties company performance directly to the financial success of its management. So those who are interested in Transmetro will be delighted to know that insiders have shown their belief, holding a large proportion of the company's shares. In fact, they own 46% of the shares, making insiders a very influential shareholder group. Shareholders and speculators should be reassured by this kind of alignment, as it suggests the business will be run for the benefit of shareholders. Although, with Transmetro being valued at AU$27m, this is a small company we're talking about. So this large proportion of shares owned by insiders only amounts to AU$12m. This isn't an overly large holding but it should still keep the insiders motivated to deliver the best outcomes for shareholders. Is Transmetro Worth Keeping An Eye On? If you believe that share price follows earnings per share you should definitely be delving further into Transmetro's strong EPS growth. Further, the high level of insider ownership is impressive and suggests that the management appreciates the EPS growth and has faith in Transmetro's continuing strength. Fast growth and confident insiders should be enough to warrant further research, so it would seem that it's a good stock to follow. Still, you should learn about the 3 warning signs we've spotted with Transmetro (including 1 which is significant). While opting for stocks without growing earnings and absent insider buying can yield results, for investors valuing these key metrics, here is a carefully selected list of companies in AU with promising growth potential and insider confidence. Please note the insider transactions discussed in this article refer to reportable transactions in the relevant jurisdiction. Have feedback on this article? Concerned about the content? Get in touch with us directly. Alternatively, email editorial-team (at) article by Simply Wall St is general in nature. We provide commentary based on historical data and analyst forecasts only using an unbiased methodology and our articles are not intended to be financial advice. It does not constitute a recommendation to buy or sell any stock, and does not take account of your objectives, or your financial situation. We aim to bring you long-term focused analysis driven by fundamental data. Note that our analysis may not factor in the latest price-sensitive company announcements or qualitative material. Simply Wall St has no position in any stocks mentioned. Error in retrieving data Sign in to access your portfolio Error in retrieving data Error in retrieving data Error in retrieving data Error in retrieving data
