Latest news with #Ishrak
Business Times
6 days ago
- Business
- Business Times
Samsung in talks to invest in California-based Exo
[SEOUL] Samsung Electronics' investment arm is among a group of firms seeking to invest in US health-care software and device company Exo Imaging, according to people familiar with the matter. Samsung Ventures Investment may participate in a private fundraising round led by Sands Capital, Bold Capital and Qubit Health Capital, the people said, asking not to be identified because the information is private. Santa Clara, California-based Exo could get about US$100 million in total, the people said. Qubit Health chairman Omar Ishrak is also set to join Exo's board, the people said. Ishrak was previously chief executive officer at Medtronic, as well as General Electric's health-care business. Exo is also in talks to partner with Samsung Medison, which makes ultrasound diagnostic devices and sells digital X-ray systems and scanners, the people said. Discussions on all the potential developments are ongoing and details could change, the people said. Samsung declined to comment, while Exo, Sands, Bold and Qubit didn't respond to requests for comment. Ishrak also didn't immediately respond. BLOOMBERG
Observer
17-04-2025
- Business
- Observer
Ministry of Commerce launches new digital initiatives
Muscat: Oman's Ministry of Commerce, Industry and Investment Promotion announced significant economic growth and unveiled several new digital initiatives during its annual media briefing held Thursday under the slogan "Partnering for Synergy." The Ministry launched several key digital platforms to improve business operations and investor engagement. The "Tejarah" WhatsApp broadcast channel was introduced to enhance communication with the public, delivering key updates related to Ministry services. The "Ishrak" Portal was unveiled to allow investors to participate in evaluating laws and regulations that impact the investment environment. Additionally, the Najd Agricultural Zone Guide was launched to empower investors by highlighting opportunities in Oman's food security sector, particularly in Dhofar Governorate. The Ministry also announced the first edition of the Advantage Oman Forum, scheduled for April 27-28, 2025, which will bring together senior government officials from GCC countries and global business leaders. Significant progress was reported in employment and Omanisation efforts, with 18,437 Omani nationals employed across key sectors in the second half of 2024, and an additional 10,891 in the first quarter of 2025. The Sanad Service Centers, which completed over 1.2 million transactions in 2024, provided 2,400 job opportunities, with 61% of positions occupied by women. Digital transformation remains a priority, with the Oman Business Platform processing 827,129 transactions in 2024, a 15.1% increase from 2023. Since its inception in April 2021, the platform has issued over 1.16 million automatic licenses. Other initiatives include the Hazm Platform for product safety and the Maroof Oman Platform for e-commerce regulation. The Ministry successfully implemented 41 initiatives in 2024, completing 29 with a 100% completion rate. For 2025, 15 new initiatives are planned across various sectors, including trade, industry, competition protection, and investment promotion. Efforts to combat hidden trade have begun in three governorates, with audits conducted on 581 commercial companies, resulting in administrative actions against 410 non-compliant establishments. These comprehensive efforts underscore Oman's commitment to economic diversification, sustainable development, and creating a competitive business environment in accordance with Vision 2040 objectives.
