Latest news with #Group
Observer
9 hours ago
- Business
- Observer
Omran Group pulls in RO 156m in FDI in 2024
The Oman Tourism Development Company (Omran Group) has announced strong financial and operational results, underscoring the Group's sustained efforts and corporate excellence in advancing tourism development and supporting sustainable economic growth in the Sultanate of Oman, in close collaboration with key stakeholders. In 2024, the Group recorded a net profit of RO 25.2 million and total revenues exceeding RO 58.3 million, reflecting operational efficiency and the high standards of excellence embraced across its business operations. These achievements were presented during the Group's recent Board of Directors meeting, where the Board reaffirmed its continued commitment to reinforcing the Group's role in advancing economic diversification and amplifying its impact as a key catalyst for tourism development and investment in the Sultanate. Demonstrating its ability to attract high-quality investments, Omran Group secured over RO 156 million in Foreign Direct Investment (FDI) during 2024. This achievement aligns with Oman Vision 2040 and the national efforts to boost FDI inflows and enhance the contribution of various economic sectors to the GDP. In the hospitality sector, the Group continued to demonstrate operational excellence, welcoming 820,365 guests across its hotel portfolio in 2024 — a 6 per cent increase compared to the previous year. The portfolio achieved an average occupancy rate of 45 per cent, marking a 2.6 per cent increase year-on-year. A major milestone was achieved with the official opening of JW Marriott Muscat, further enriching the luxury hospitality landscape in the Sultanate of Oman. As part of its efforts to position Oman as a premier luxury tourism destination on the global map and to attract the world's leading hospitality brands, Omran Group announced several strategic projects, most notably the Middle East's first Club Med Resort that will be developed in Musandam, and the signing of a strategic partnership with Santani Wellness Resorts to introduce wellness tourism in Al Dakhiliyah Governorate. Reinforcing its commitment to sustainability and local value creation, the Group achieved a 40 per cent In-Country Value Index in 2024, with total spending exceeding RO 19 million in support of SMEs, which accounted for 34.7% of overall procurement spending. Furthermore, the Group created 370 new job opportunities for local talents, achieving an Omanisation rate of 94% within Oman Tourism Development Company SAOC and 53 per cent across the Group, highlighting its dedication to empowering national talent and supporting the local economy. In line with its vision to enhance corporate governance practices, Omran Group launched its Environmental, Social, and Governance (ESG) Framework during the year, reinforcing its commitment to global sustainability standards, transparency, and excellence across all its operations and projects. The positive results achieved by Omran Group in 2024 reaffirm its leading role as a catalyst for tourism development in the Sultanate of Oman. Through pioneering projects, strategic partnerships, and innovative initiatives, the Group continues to strengthen its position and contribute to Oman's journey towards a diversified and sustainable economy
Dubai Eye
10 hours ago
- Health
- Dubai Eye
UAE to UN: Arab Group says Israel's use of 'starvation as weapon of war is evident'
UAE Ambassador to the UN, Mohamed Abushahab has delivered the 22-member Arab Group statement on Israel's "deliberate use of starvation as a weapon of war" in Gaza at a UN Security Council briefing, calling it "starkly evident". Highlighting the worsening humanitarian crisis in Gaza during Wednesday's meeting, the statement cited chaos at an aid distribution centre on Tuesday as evidence of the urgent need for full, unhindered access to aid across the Strip. The statement from the Arab Group highlighted that 160,000 tonnes of food supplies remain stalled at border crossings since Israel lifted the 11-week aid blockade. Only 408 trucks have been permitted to enter Gaza via the Kerem Shalom crossing, Abushahad said, adding that only 115 trucks have successfully delivered aid into Gaza. "A drop in the ocean compared to Gaza's overwhelming humanitarian needs," the statement asserted, highlighting that over 2 million Palestinians continue to face severe shortages of food and medicine, with no aid reaching the northern Strip. The Group, which includes Saudi Arabia, Lebanon, Sudan and Egypt, also rejected Israel's proposed aid mechanism, arguing it violates humanitarian principles. The Group urged Israel to implement the UN's five-phase humanitarian aid plan without delay. "Since Israel's breach of the ceasefire last March, the systematic destruction of hope and life for Palestinians in Gaza has persisted," Abushahab said. The statement referenced the case of Dr. Alaa Al-Najjar, a pediatrician at Nasser Hospital, who lost nine of her 10 children in an Israeli airstrike — a powerful example, the gGroup noted, of the human toll of the war. The statement also expressed alarm over Israel's continued military escalation in Gaza and the West Bank, the expansion of settlements, and changes to the legal and religious status quo at holy sites in Jerusalem. The Group reaffirmed its backing of the Arab plan for Gaza's recovery, led by Egypt in coordination with Palestine and the UN, and called for international support ahead of an upcoming reconstruction conference in Cairo. The UAE also called for the lifting of restrictions on UNRWA, the UN agency for Palestinian refugees, stressing its vital role in delivering aid and safeguarding refugee rights, including the right of return. The Group urged the Council to support the Algerian-backed resolution calling for an immediate and unconditional ceasefire, protection of civilians and aid workers, and removal of barriers to humanitarian aid. 'Any delay will only exacerbate civilian suffering and cost more lives,' the statement concluded, calling on all countries to support efforts toward a two-state solution.
Observer
11 hours ago
- Business
- Observer
OMRAN Group achieves robust 2024 results, reinforcing its role in tourism development
Muscat: The Oman Tourism Development Company (OMRAN Group) has announced strong financial and operational results, underscoring the Group's sustained efforts and corporate excellence in advancing tourism development and supporting sustainable economic growth in the Sultanate of Oman, in close collaboration with key stakeholders. In 2024, the Group recorded a net profit of RO 25.2 million and total revenues exceeding RO 58.3 million, reflecting operational efficiency and the high standards of excellence embraced across its business operations. These achievements were presented during the Group's recent Board of Directors meeting, where the Board reaffirmed its continued commitment to reinforcing the Group's role in advancing economic diversification and amplifying its impact as a key catalyst for tourism development and investment in the Sultanate. Demonstrating its ability to attract high-quality investments, OMRAN Group secured over RO 156 million in Foreign Direct Investment (FDI) during 2024. This achievement aligns with Oman Vision 2040 and the national efforts to boost FDI inflows and enhance the contribution of various economic sectors to the GDP. In the hospitality sector, the Group continued to demonstrate operational excellence, welcoming 820,365 guests across its hotel portfolio in 2024 — a 6% increase compared to the previous year. The portfolio achieved an average occupancy rate of 45%, marking a 2.6% increase year-on-year. A major milestone was achieved with the official opening of JW Marriott Muscat, further enriching the luxury hospitality landscape in the Sultanate of Oman. As part of its efforts to position Oman as a premier luxury tourism destination on the global map and to attract the world's leading hospitality brands, OMRAN Group announced several strategic projects, most notably the Middle East's first Club Med Resort that will be developed in Musandam, and the signing of a strategic partnership with Santani Wellness Resorts to introduce wellness tourism in Al Dakhiliyah Governorate. Reinforcing its commitment to sustainability and local value creation, the Group achieved a 40% In-Country Value Index in 2024, with total spending exceeding RO 19 million in support of SMEs, which accounted for 34.7% of overall procurement spending. Furthermore, the Group created 370 new job opportunities for local talents, achieving an Omanisation rate of 94% within Oman Tourism Development Company SAOC and 53% across the Group, highlighting its dedication to empowering national talent and supporting the local economy. In line with its vision to enhance corporate governance practices, OMRAN Group launched its Environmental, Social, and Governance (ESG) Framework during the year, reinforcing its commitment to global sustainability standards, transparency, and excellence across all its operations and projects. The positive results achieved by OMRAN Group in 2024 reaffirm its leading role as a catalyst for tourism development in the Sultanate of Oman. Through pioneering projects, strategic partnerships, and innovative initiatives, the Group continues to strengthen its position and contribute to Oman's journey towards a diversified and sustainable economy.
Al Etihad
12 hours ago
- Business
- Al Etihad
EMSTEEL partners with Magsort to produce decarbonised cement
29 May 2025 18:34 ABU DHABI (WAM)EMSTEEL, one of the largest publicly traded steel and building materials manufacturers in the region, has announced a major milestone in its decarbonisation journey where it has signed a strategic partnership with Finnish company Magsort to produce decarbonised agreement follows the success the Group has had in implementing an industrial-scale pilot for decarbonised cement production at its Al Ain facility through utilising 10,000 tonnes of materials that reduce carbon, which have been developed by incorporating Group's pilot provides a unique use-case for complementary operations between its two main business lines: Steel and Cement. This is achieved by incorporating steel slag at scale as raw material for clinker and cement production, reinforcing the Group's commitment towards driving sustainability in the to its diverse product range, EMSTEEL in uniquely positioned to pioneer a viable and practical circular economy case study. This simultaneously underscores EMSTEEL's strategic capability to expedite decarbonisation efforts across diverse sectors and strengthens its standing as a regional sustainability leader setting new benchmarks for industrial innovation in developing low-carbon address the growing local market demand for low-carbon cement, an integrated line will be built at the company's Al Ain plant. This line will process steel residue and refine materials sourced from EMSTEEL's steel plant in Abu Dhabi. This significant initiative is a crucial step expected to directly contribute to reducing Scope 1 carbon dioxide initiative is a core component of EMSTEEL's decarbonisation strategy. The company aims to achieve a 40% reduction in absolute greenhouse gas (GHG) emissions in its Steel Business Unit and by 30 percent reduction in its Cement Business Unit by 2030, using 2019 as the baseline year. EMSTEEL remains firmly committed to reaching net-zero emissions by CEO of EMSTEEL, Saeed Ghumran Al Remeithi, said, 'This is a proud moment for EMSTEEL and a strong signal of what is possible when innovation meets ambition. By transforming steel slag into a valuable input for cement, we are not only cutting emissions but also proving the commercial value of industrial circularity. Our integrated model is unlocking real results, and this milestone is a testament to our commitment to accelerate our decarbonisation journey and help deliver the UAE's Net Zero vision.'CEO of Emirates Cement, part of EMSTEEL Group, Hugo Losada, stated, 'This milestone represents an important step in our decarbonisation journey. Proving the technical and commercial viability of this decarbonisation effort is a promising sign that we will be able to achieve our objective of hitting the 2030 decarbonisation targets by 2026. We look forward to continuing this very fruitful co-operation with Magsort over the years to come.' CEO of Magsort, Kalevi Kostiainen, added, 'We are extremely happy in achieving this key milestone in Abu Dhabi. The co-operation with Emirates Cement has been incredibly productive and this facility serves as a large-scale example for the industry on how to achieve significant CO₂ reduction with today's technology and existing materials. It's a clear win-win for the cement and steel industries. We would like to thank Emirates Cement for leading the way and taking action.'
BusinessToday
12 hours ago
- Business
- BusinessToday
SunCon Secures RM1.15 Billion Data Centre Contracts From US Multinational
Sunway Construction Group Berhad announce that its wholly-owned subsidiary has accepted Works Orders from a multinational technology company headquartered in the United States for the provision of General Contractor works for two data centre projects totaling RM1.155 billion. The Group expects these projects to contribute positively to the Group's earnings for the current and subsequent financial years, with completion targeted for the first quarter of 2027. Sunway Construction has secured RM3.5 billion worth of new orders to date, accounting for more than half of its 2025 order book replenishment target range of RM4.5 billion to RM6.0 billion. As a result, its total outstanding order book has risen to RM7.9 billion. Related
