Latest news with #USD300
Observer
05-05-2025
- Business
- Observer
HM, Algerian President grace signing MoUs, executive programmes
Algiers: His Majesty Sultan Haitham bin Tarik and President Abdelmadjid Tebboune of the People's Democratic Republic of Algeria graced at the Presidential Palace in Algiers on Monday, the signing of a preliminary agreement, four memoranda of understanding (MoUs), two cooperation MoUs, and four executive programmes. These agreements include the establishment of a joint Oman-Algeria Investment Fund. They also spanned scientific, technical, educational, agricultural, investment, pharmaceuticals, judicial, and legal cooperation, as well as plant protection and, animal health fields. Among the key agreements, Oman Investment Authority (OIA) and Algeria's Ministry of Finance signed a cooperation MoU to establish a joint investment fund worth RO 115.4 million (USD300 million), equally shared between the two countries. The fund will focus on key sectors such as food security, pharmaceuticals, minerals and mining, with the aim of fostering mutual economic benefits. In the mining sector, Minerals Development Oman—a subsidiary of Oman Investment Authority—and Algeria's National Company for Mineral Exploration and Production signed an MoU to expand bilateral cooperation in mining and related industries. The agreement facilitates knowledge transfer, economic diversification, and job creation while adhering to environmental and social sustainability standards. In the energy sector, Abraj Energy Services and Algeria's state-owned Sonatrach signed key terms for a joint venture based on a previously agreed MoU. The two sides also finalized two agreements earlier in 2025 to develop vocational training programmes in oil and gas and establish a framework for technical and managerial skill development. A memorandum of understanding was also signed in the pharmaceutical industry between the Ministry of Health and Algeria's Ministry of Industry and Pharmaceutical Production, aimed at fostering cooperation in drug manufacturing under the applicable laws of both nations to serve the joint interests. This includes collaboration in pharmacovigilance, scientific research exchange, expertise sharing in drug evaluation, and promoting investment in pharmaceutical manufacturing. Additionally, a cooperation agreement was signed between Ministry of Justice and Legal Affairs and Algeria's Ministry of Justice to strengthen collaboration in judicial and legal fields. The two sides will exchange experiences, expertise, and training programmes, as well as share best practices in studying the drafting of international conventions. In the judicial field, the Supreme Judiciary Council and Algeria's Ministry of Justice signed a memorandum of understanding (MoU) to boost judicial cooperation, including the exchange of court rulings, joint training programmes for judges and staff, expert visits, collaborative research in legal studies and conducting specialized workshops and seminars. Agricultural cooperation was also strengthened with the signing of an MoU between the Ministry of Agriculture, Fisheries, and Water Resources and Algeria's Ministry of Agriculture Rural Development and Fisheries. The agreement focuses on desert farming, modern agricultural technologies, biotechnology for crop resilience, and food safety standards. An executive programme was activated to implement an existing MoU on plant protection and animal health, enabling the exchange of regulations, technical expertise, and training in phytosanitary measures, seed production, and quarantine procedures. In fisheries, Oman Marine Science and Fisheries Center and Algeria's National Centre for Research and Development of Fisheries and Aquaculture signed an executive programme to enhance scientific and technical cooperation in marine research, aquaculture, and smart fishing technologies. An executive programme in education, stemming from a 2006 bilateral agreement, was also signed to facilitate academic exchanges, joint research, and scholarships between higher education institutions in both countries.
Times of Oman
05-05-2025
- Business
- Times of Oman
HM, Algerian President grace signing MoUs, executive programmes
Algiers: His Majesty Sultan Haitham bin Tarik and President Abdelmadjid Tebboune of the People's Democratic Republic of Algeria graced at the Presidential Palace in Algiers today, the signing of a preliminary agreement, four memoranda of understanding (MoUs), two cooperation MoUs, and four executive programmes. These agreements include the establishment of a joint Oman-Algeria Investment Fund. They also spanned scientific, technical, educational, agricultural, investment, pharmaceuticals, judicial, and legal cooperation, as well as plant protection and, animal health fields. Among the key agreements, Oman Investment Authority (OIA) and Algeria's Ministry of Finance signed a cooperation MoU to establish a joint investment fund worth RO 115.4 million (USD300 million), equally shared between the two countries. The fund will focus on key sectors such as food security, pharmaceuticals, minerals and mining, with the aim of fostering mutual economic benefits. In the mining sector, Minerals Development Oman—a subsidiary of Oman Investment Authority—and Algeria's National Company for Mineral Exploration and Production signed an MoU to expand bilateral cooperation in mining and related industries. The agreement facilitates knowledge transfer, economic diversification, and job creation while adhering to environmental and social sustainability standards. In the energy sector, Abraj Energy Services and Algeria's state-owned Sonatrach signed key terms for a joint venture based on a previously agreed MoU. The two sides also finalized two agreements earlier in 2025 to develop vocational training programmes in oil and gas and establish a framework for technical and managerial skill development. A memorandum of understanding was also signed in the pharmaceutical industry between the Ministry of Health and Algeria's Ministry of Industry and Pharmaceutical Production, aimed at fostering cooperation in drug manufacturing under the applicable laws of both nations to serve the joint interests. This includes collaboration in pharmacovigilance, scientific research exchange, expertise sharing in drug evaluation, and promoting investment in pharmaceutical manufacturing. Additionally, a cooperation agreement was signed between Ministry of Justice and Legal Affairs and Algeria's Ministry of Justice to strengthen collaboration in judicial and legal fields. The two sides will exchange experiences, expertise, and training programmes, as well as share best practices in studying the drafting of international conventions. In the judicial field, the Supreme Judiciary Council and Algeria's Ministry of Justice signed a memorandum of understanding (MoU) to boost judicial cooperation, including the exchange of court rulings, joint training programmes for judges and staff, expert visits, collaborative research in legal studies and conducting specialized workshops and seminars. Agricultural cooperation was also strengthened with the signing of an MoU between the Ministry of Agriculture, Fisheries, and Water Resources and Algeria's Ministry of Agriculture Rural Development and Fisheries. The agreement focuses on desert farming, modern agricultural technologies, biotechnology for crop resilience, and food safety standards. An executive programme was activated to implement an existing MoU on plant protection and animal health, enabling the exchange of regulations, technical expertise, and training in phytosanitary measures, seed production, and quarantine procedures. In fisheries, Oman Marine Science and Fisheries Center and Algeria's National Centre for Research and Development of Fisheries and Aquaculture signed an executive programme to enhance scientific and technical cooperation in marine research, aquaculture, and smart fishing technologies. An executive programme in education, stemming from a 2006 bilateral agreement, was also signed to facilitate academic exchanges, joint research, and scholarships between higher education institutions in both countries. Moreover, the Ministry of Labour and Algeria's Ministry of Labour, Employment, and Social Security signed an executive programme to enhance cooperation in labour inspection, including the exchange of best practices, dispute resolution mechanisms, and joint training initiatives. The agreements were signed on behalf of the Omani government by Sayyid Badr bin Hamad Al Busaidi, Foreign Minister; Abdulsalam bin Mohammed Al Murshidi, Chairman of Oman Investment Authority (OIA); Dr. Saud bin Hamod Al Habsi, Minister of Agriculture, Fisheries, and Water Resources; Dr. Hilal bin Ali Al Sabti, Minister of Health; Eng. Mattar Al Badi, CEO of Minerals Development Oman (MDO); and Saif Said Al Hamhami, CEO of Abraj Energy Services. Representing the Algerian government were Dr. Wassim Kouidri, Minister of Pharmaceutical Industry; Lotfi Boudjemaa, Minister of Justice and Keeper of the Seals; Abdelkrim Bouzred, Minister of Finance; Rachid Hachichi, CEO of Sonatrach; Youcef Cherfa, Minister of Agriculture, Rural Development and Fishing; Dr. Kamel Baddari, Minister of Higher Education and Scientific Research; and Faysal Bentaleb, Minister of Labour, Employment, and Social Security.
The Sun
22-04-2025
- Business
- The Sun
Wong & Partners had no role in 1MDB's USD1 billion transfer
PUTRAJAYA: The High Court here today was told that the law firm Wong & Partners, which previously served as legal adviser to 1Malaysia Development Berhad (1MDB), was not involved in handling the transfer of the company's USD1 billion for its 2009 joint venture with PetroSaudi International. Brian Chia Hock Gee, a former partner at Wong & Partners, said the firm had no role in the payment, as it did not handle any funds. He pointed out that the transfer was undertaken by 1MDB's chief executive officer (CEO), Datuk Shahrol Azral Ibrahim Halmi and its former executive director of business development, Casey Tang Keng Chee. The 56-year-old Chia, who is testifying as the 23rd defence witness in Datuk Seri Najib Razak's trial involving the alleged misappropriation of RM2.3 billion from 1MDB, said dealings with Bank Negara Malaysia (BNM) for exchange control approvals related to the joint venture were handled by 1MDB. For the record, the USD1 billion was sent in two parts, namely, USD700 million went to an account at RBS Coutts, which was later found to belong to Good Star Limited, a company owned by fugitive businessman Low Taek Jho or Jho Low. The remaining USD300 million was transferred to an account at JP Morgan. Regarding the joint venture agreement, Chia said he attended a meeting in London on Sept 25, 2009, as instructed by Shahrol. 'Upon my arrival in London, I was met by Shahrol and fugitive businessman Low Taek Jho, or Jho Low. Shahrol informed me that Jho Low was an adviser to 1MDB. I was instructed by Shahrol to work with Jho Low, Casey, and Shahrol on the matter, which I then did. I attended a meeting at the law firm White & Case, which was representing the PetroSaudi Group in the joint venture. 'At the meeting, the broad principles and concept of the joint venture were discussed generally. The joint venture, as discussed, was to be a government-to-government cooperation between Malaysia and the Kingdom of Saudi Arabia involving an oil and gas project. Our role was to assist in the preparation of the documentation for the joint venture agreement,' he said. On Oct 30 last year, Justice Datuk Collin Lawrence Sequerah ordered Najib to enter his defence after ruling that the prosecution had established a prima facie case against him. Najib, 71, faces 25 charges, including four counts of abusing his position to accept RM2.3 billion in bribes from 1MDB funds and 21 charges of money laundering involving the same amount. The hearing continues tomorrow.
Daily Tribune
06-02-2025
- Business
- Daily Tribune
Al Baraka Islamic Bank celebrates Winners of Al Barakat grand prize for December 2024
Al Baraka Islamic Bank (AIB), a leading Islamic financial institution in the Kingdom of Bahrain, has announced the winners of the Al Barakat Grand Prize for December 2024, totalling USD600,000. Two prizes of USD300,000 each were awarded to both Sabah Khamis Isa and Adel Mohammed Jameel during an eventful ceremony held at the bank's headquarters in Bahrain Bay. Dr. Adel Salem, the Bank's CEO and management members greeting the winners. The bank also revealed the date for the first draw of the Al Barakat Grand Prizes in 2025, amounting to USD500,000, which will take place on March 3, with two winners each receiving USD250,000. Al Barakat account serves to enhance the spirit of appreciation and respect between the bank and its customers, as it highlights the bank's commitment to providing tangible added value to customers and its dedication to introducing rewarding incentive schemes that encourage clients to continue investing and saving experience aimed at fulfilling their financial hopes and ambitions, thereby enhancing customer loyalty and trust in the bank. At the same time, Al Baraka Islamic Bank is preparing to announce more details on the Al Barakat account scheme for 2025, including larger prizes that reflect the diverse aspirations and needs of customers. The bank is keen to offer innovative investment platforms along with additional prizes that align with customers' expectations, ensuring it remains at the forefront of leading Islamic banks in the Kingdom of Bahrain. On this occasion, Mazin Dhaif, Chief Retail Officer at Al Baraka Islamic Bank, stated: 'We are pleased to announce the winners of the Al Barakat Grand Prize for the month of December. We take pride in offering attractive prizes that reflect our deep commitment to our customers. The Al Barakat account embodies our vision of enhancing our customers' banking experience and meeting their needs and aspirations.' It is worth noting that the minimum deposit of BD50 in the Sharia-compliant Al Barakat account provides customers with the chance to win rewarding cash prizes.
Yahoo
27-01-2025
- Business
- Yahoo
Television Market to Grow by USD 73.1 Billion (2025-2029), Driven by Innovation and Premiumization, Report Highlights AI Impact on Market Trends
NEW YORK, Jan. 27, 2025 /PRNewswire/ -- Report on how AI is redefining market landscape - The global television market size is estimated to grow by USD 73.1 billion from 2025-2029, according to Technavio. The market is estimated to grow at a CAGR of over 8.2% during the forecast period. Product innovation and advances leading to portfolio extension and product premiumization is driving market growth, with a trend towards advent of 8K uhd televisions. However, lack of 4K content poses a challenge. Key market players include Apple Inc., Changhong, Elitelux Australia, Funai Electric Co. Ltd., Haier Smart Home Co. Ltd., Hisense International Co. Ltd., Koninklijke Philips NV, Konka Group Co. Ltd., LG Corp., Micromax Informatics Ltd., MIRC Electronics Ltd., Panasonic Holdings Corp., Samsung Electronics Co. Ltd., Sharp Corp., Skyworth Group Ltd., Sony Group Corp., TCL Industries Holdings Co. Ltd., Videocon Industries Ltd., VIZIO Holding Corp., and Xiaomi Inc.. Key insights into market evolution with AI-powered analysis. Explore trends, segmentation, and growth drivers- View Free Sample PDF Television Market Scope Report Coverage Details Base year 2024 Historic period 2019 - 2023 Forecast period 2025-2029 Growth momentum & CAGR Accelerate at a CAGR of 8.2% Market growth 2025-2029 USD 73.1 billion Market structure Fragmented YoY growth 2022-2023 (%) 7.4 Regional analysis APAC, North America, Europe, South America, and Middle East and Africa Performing market contribution APAC at 38% Key countries US, China, South Korea, India, Germany, UK, Japan, Canada, France, and Italy Key companies profiled Apple Inc., Changhong, Elitelux Australia, Funai Electric Co. Ltd., Haier Smart Home Co. Ltd., Hisense International Co. Ltd., Koninklijke Philips NV, Konka Group Co. Ltd., LG Corp., Micromax Informatics Ltd., MIRC Electronics Ltd., Panasonic Holdings Corp., Samsung Electronics Co. Ltd., Sharp Corp., Skyworth Group Ltd., Sony Group Corp., TCL Industries Holdings Co. Ltd., Videocon Industries Ltd., VIZIO Holding Corp., and Xiaomi Inc. Market Driver The Pay TV market is thriving, with a valuation of over USD300 billion. Traditional Cable TV and Direct-to-Home continue to dominate, but Fiber optic services are gaining ground. Consumer appetite for high-definition content and smart TV capabilities is driving growth. Over-the-top platforms like Spotv are disrupting the industry, offering flexible pay TV models and Ultra-High-Definition (UHD) content. Security systems ensure content protection in residential sectors, with millions of housing units subscribing. Commercial sectors are also investing, with potential for acquisitions and TV-as-a-Service (TVaaS) models. The future landscape includes postpaid and prepaid services, eco-friendly TVs, and technologies like gaming and virtual reality. Technological segments include cable, satellite, and Internet Protocol. The Pay TV industry is evolving, with advances in visual image, sound transmission systems, and consumer electronics. At the Consumer Electronics Show (CES) 2018, 8K resolution televisions with higher pixel counts than current UHD or 4K televisions were introduced. With approximately 8,000 horizontal pixels, 8K displays offer quadruple the resolution of 4K. This growth in 8K televisions is driven by the increasing demand for high-resolution devices and advanced content creation. Although major vendors like LG, Samsung, and Sony have unveiled 8K television series, these are currently proof-of-concept models and not yet available for consumers. Request Sample of our comprehensive report now to stay ahead in the AI-driven market evolution! Market Challenges • The Pay TV market encompasses various segments like Cable TV, Direct-to-Home, Fiber optic services, and Over-the-top platforms. Valuation in this industry is driven by consumer appetite for high-definition content and smart TV capabilities. Challenges include providing secure content systems, catering to residential sectors with millions of housing units, and addressing viewer preferences in both residential and commercial sectors. Players like Spotv face competition from traditional cable TV and premium content providers in territories. Technological segments such as Ultra-High-Definition services and Internet Protocol TV are shaping the future market landscape. Pay TV models include postpaid and prepaid services, while TV as a Service (TVaaS) models are gaining traction. The ecosystem includes content delivery, gaming, and console compatibility. Smart TV enhancements, technologies, and eco-friendly designs are driving consumer electronics evolution. The industry's future includes Ultra-High-Definition content, OLED displays, and emerging economies with growing disposable incomes. Potential investors should consider the Pay TV industry's potential and the evolution of television, from visual image and sound transmission systems to entertainment programs and data programs. • The adoption of Ultra High Definition (UHD) televisions faces a significant challenge due to the limited availability of 4K content. The fragmented nature of 4K media, with its proprietary restrictions, negatively impacts user experience. Over-the-top (OTT) platforms like Sky, BT, Amazon, and Netflix are working on adding 4K content to their offerings. However, access to this premium content comes at an additional cost. The main obstacles for 4K and 8K resolutions are in-home capabilities and content distribution. Many UHD device owners cannot access 4K content as broadcasters have yet to produce it. Discover how AI is revolutionizing market trends- Get your access now! Segment Overview This television market report extensively covers market segmentation by Technology 1.1 UHD 1.2 HD Display Size 2.1 Upto 43 inches 2.2 55-64 inches 2.3 48-50 inches 2.4 Greater than 65 inches Geography 3.1 APAC 3.2 North America 3.3 Europe 3.4 South America 3.5 Middle East and Africa Type 1.1 UHD- UHD televisions, also known as 4K televisions, feature a screen resolution of 3,840 pixels x 2,160 lines, offering a horizontal resolution of approximately 8.3 megapixels. This high-definition format is popular due to its widespread use in UHD televisions. Vendors have also introduced 8K resolution televisions, which offer a horizontal resolution of 7,680 pixels and a total image dimension of 4,320 pixels. The demand for UHD televisions is increasing, particularly in developing countries like China, where the average television size has grown from 40 inches to 55 inches. In regions such as the US and Australia, the popularity of larger 65-inch UHD televisions is on the rise. The UHD television market is projected to experience significant growth, with shipment volumes expected to double by the end of the forecast period. The 8K UHD resolution market is set to witness the most growth due to the increasing demand for high-resolution television sets and the need for enhanced content creation. The 8K resolution offers over sixteen times the resolution of 1,080 pixels full HD, both horizontally and vertically. The advances in technology will continue to drive the growth of the global 8K UHD resolution market during the forecast period. Download a Sample of our comprehensive report today to discover how AI-driven innovations are reshaping competitive dynamics Research Analysis The Pay TV market continues to evolve, with various technological segments such as Cable TV, Direct-to-Home, and Fiber optic services vying for consumer appetite. Valuation of the market is projected to reach new heights, driven by the demand for high-definition content and advanced Smart TV capabilities. Over-the-top platforms are disrupting traditional TV, offering ultra-high-definition services and premium content at competitive prices. Technologies like Virtual Reality and Augmented Reality are also gaining traction, enhancing the TV viewing experience. Eco-friendly initiatives, Home Office integration, and advanced display technologies like OLED, bezel-less, frameless, curved, and foldable displays are further fueling innovation in the sector. The residential and commercial sectors are the primary focus, with territories around the world presenting diverse opportunities for growth. Content integration across various platforms is the new norm, ensuring consumers have access to their favorite shows and movies at their fingertips. Market Research Overview The Pay TV market encompasses various segments, including Cable TV, Direct-to-Home, and Fiber Optic services. The industry's valuation continues to grow, fueled by the consumer appetite for high-definition content and advanced TV capabilities. Over-the-top platforms have disrupted traditional Pay TV models, leading to the emergence of TV-as-a-Service (TVaaS) models and postpaid/prepaid services. The residential sector, particularly housing units, is a significant market for Pay TV, with viewer preferences influencing content offerings and acquisitions. Commercial sectors and potential investors also contribute to the ecosystem. Technological segments, such as Ultra-High-Definition services and content security systems, continue to evolve. The television landscape is marked by advancements in visual image and sound transmission systems, screens, and entertainment/data programs. Consumer electronics, including Smart TVs, gaming consoles, and technologies, are driving the evolution of the Pay TV industry. Eco-friendly and home office-friendly features, such as OLED displays, bezel-less and frameless designs, and TVs as art, are also gaining popularity. Curved and foldable displays, content integration, and disposable incomes in emerging economies further shape the future market landscapes. Table of Contents: 1 Executive Summary2 Market Landscape3 Market Sizing4 Historic Market Size5 Five Forces Analysis6 Market Segmentation Technology Display Size Geography Type 7 Customer Landscape8 Geographic Landscape9 Drivers, Challenges, and Trends10 Company Landscape11 Company Analysis12 Appendix About Technavio Technavio is a leading global technology research and advisory company. Their research and analysis focuses on emerging market trends and provides actionable insights to help businesses identify market opportunities and develop effective strategies to optimize their market positions. With over 500 specialized analysts, Technavio's report library consists of more than 17,000 reports and counting, covering 800 technologies, spanning across 50 countries. Their client base consists of enterprises of all sizes, including more than 100 Fortune 500 companies. This growing client base relies on Technavio's comprehensive coverage, extensive research, and actionable market insights to identify opportunities in existing and potential markets and assess their competitive positions within changing market scenarios. Contacts Technavio ResearchJesse MaidaMedia & Marketing ExecutiveUS: +1 844 364 1100UK: +44 203 893 3200Email: media@ View original content to download multimedia: SOURCE Technavio
