Latest news with #sustainableGrowth
Zawya
12 hours ago
- Business
- Zawya
Mining in Motion Summit Highlights Growing Support for Formalized Artisanal and Small-scale Mining Sector (ASM) Industry
The second day of the Mining in Motion 2025 Summit highlighted global industry leaders advocating for greater formalization of the artisanal and small-scale mining sector (ASM). The event featured keynote presentations calling for increased cooperation between the ASM and large-scale operators to drive sustainable industry growth. David Tait, CEO of the World Gold Council, emphasized the scale and importance of the ASM sector, which provides livelihoods for over 40 million people globally. However, he noted that the sector continues to face critical challenges, including illegal operations and environmental degradation. 'With rising global demand and gold prices, illegal mining is on the rise - fueling civil unrest, child labor and depriving governments of billions in revenue that could support development,' Tait stated. 'There is a risk in slow policy responses. In 1990, ASM accounted for just 4% of global gold production; today, it represents over 20%.' He commended Ghana for its various mechanisms such as the Ghana Gold Board in addressing illicit mining. 'Government leadership is a fundamental requirement,' he added. He called for African markets to increase focus on the professionalization and formalization of ASM operations, increasing ASM access to legitimate financing, and the adoption of mercury-free processing methods. He also highlighted the World Gold Council's work with seven central banks, including several in Africa, to ensure gold purchases from ASM sources are channeled through legal frameworks. Additionally, the Council has developed a guide to foster effective collaboration between the ASM and LSM actors. Representing Africa's largest gold producer, Stewart Bailey, Chief Corporate Affairs&Sustainability Officer at AngloGold Ashanti, echoed the call for coexistence. 'ASM has been part of the value chain since we were incorporated. For many years our approach has been to co-exist with ASM wherever feasible,' noted Bailey. AngloGold Ashanti is working with governments, NGOs and global organizations like the World Gold Council to support ASM operators in adopting mercury-free practices, upholding human rights, and promoting environmental rehabilitation, according to Bailey. Allan Jorgensen, Head of Responsible Business Conduct at the OECD Centre, reinforced the importance of responsible mining practices. 'To unlock Africa's potential, we must confront the challenges associated with gold as a driver of illicit activities,' Jorgensen said. The OECD developed a Due Diligence Guidance, supported by governments and aligned with regulations like those of the London Bullion Market Association, to reduce environmental and social risks in gold supply chains. Distributed by APO Group on behalf of Energy Capital&Power.
Zawya
3 days ago
- Business
- Zawya
Gulf economic "integration" step towards growth - Kuwait Min.
KUWAIT -- Economic "integration" within Gulf Arab states is a major step forward towards sustainable growth, Kuwait's finance minister said on Sunday, citing the measure as a cornerstone of development plans. At a time of "grave" economic challenges, coupled with geopolitical tensions, it would behoove Gulf Cooperation Council (GCC) states to ratchet up their efforts in a bid to keep these difficulties at bay, Nora Al-Fassam told a gathering of the six-member bloc's financial and economic cooperation committee in Kuwait. As non-oil revenue continues to be on an upward trajectory, Al-Fassam, who doubles as state minister for economic and investment affairs, said that Gross Domestic Product in GCC member states was worth USD 2.2 trillion in 2024, while sectors ranging from tourism to energy continue to see palpable growth, she underlined. In terms of GDP value, the minister prognosticated that the economies of Gulf Arab states will be among the top 10 in the world in the coming years, while the primary objective for the committee gathering is to look into plans to bolster cooperation in the face of existential challenges, which was necessary to keep development steady, said the minister. In attendance amid the talks, the Riyadh-based bloc's secretary general Jasem Al-Bedaiwi said that the slew of accomplishments member states have amassed helped transform the region into a financial and economic hub, while steps are being taken towards the economic "integration" of GCC countries, he said. He went on to say that forging a solid rapport with international bodies and organizations was a "priority" moving forward, emphasizing that recent indicators point to the growing economic clout of Gulf Arab countries, whose stock markets rank seventh in the world in terms of market value, the bloc's chief added. On other accomplishments, he said the region's non-oil economic activity comprised 75.9 percent of total GDP last year, at a time where Gulf Arab states continue to push forward "economic diversification" plans, while the proper infrastructure is in place to accelerate a digital drive, said the official. All KUNA right are reserved © 2022. Provided by SyndiGate Media Inc. (
Globe and Mail
28-05-2025
- Business
- Globe and Mail
IBN Technologies' Accounts Receivable Outsourcing Services Transform AR Operations with End-to-End Solutions
"Accounts Receivable Outsourcing Services (USA)" Virginia businesses are turning to IBN Technologies for expert accounts receivable outsourcing services, streamlining collections and improving cash flow visibility. By outsourcing, companies overcome complexities like slow payment follow-ups and manual processes. They deliver customized AR solutions, ensuring accurate invoicing, real-time reporting, and compliance, helping clients boost financial control and support sustainable growth. MIAMI, Florida - May 28, 2025 - The sector is continuously strategizing accounts receivable management, and outsourcing has made it possible to achieve watchful results in financial oversight. Across Virginia, the adoption of accounts receivable outsourcing services is accelerating as companies seek expert solutions to enhance collections and improve cash flow. This strategic approach is reshaping financial workflows and providing clearer insights into outstanding receivables. Virginia businesses increasingly value the speed and accuracy that specialized outsourcing partners deliver. Efforts to optimize accounts receivable are gaining traction as organizations leverage providers like IBN Technologies to improve revenue cycle efficiency. With tailored strategies designed to streamline payment collection and increase visibility, Virginia companies are better positioned to support sustainable growth and maintain strong fiscal health in a competitive marketplace. Simplify AR processes with expert-led support. Tackling Receivables Complexity Virginia enterprises increasingly face operational challenges as the complexity of managing receivables intensifies. The growing demand for faster collections and reliable cash flow tracking makes relying on internal teams alone a challenge. Leaders prioritize enhanced visibility, responsiveness, and ownership within financial processes. Inefficient or disconnected invoicing tools Payment follow-up delays High Days Sales Outstanding (DSO) restricting cash access Insufficient real-time receivables tracking Dependence on manual spreadsheets and workflows Variable communication of credit terms to clients Coordination issues among finance units across locations To meet these demands, many Virginia businesses seek external expertise. IBN Technologies provides customized accounts receivable outsourcing services, enabling companies to tighten control, reduce errors, and synchronize receivables management with overall business objectives. Efficient AR Services Supporting Growth Virginia businesses transform their accounts receivable operations through service-focused outsourcing solutions designed to enhance financial precision and scalability. Utilizing accounts receivable outsourcing services allows finance departments to achieve consistent cash flow and actionable insights. These services streamline revenue cycles and bolster organizational growth. • Invoicing, follow-ups, and reconciliation handled externally • Integration with existing platforms • Real-time reporting by real people • Credit validation and dispute resolution • Compliance with U.S. accounting standards • Full visibility into financial status • Actionable insights into collections performance 'Modern accounts receivable strategies focus on flexibility, data integrity, and operational excellence,' noted Ajay Mehta, CEO at IBN Technologies. Verified Operational Success Companies collaborating with IBN Technologies for accounts receivable outsourcing report substantial gains in financial and operational performance. This growing practice supports better cash handling and efficiency across industries. Cash flow improved by 30%, allowing quicker reinvestment opportunities. Customer payment rates increased by 25%, strengthening revenue certainty. Finance teams saved over 15 hours weekly, boosting capacity for strategic work. These documented achievements highlight the effectiveness of professional accounts receivable services. IBN Technologies continues to deliver trusted solutions for optimizing finance operations. Modern AR Backed by Insight Virginia businesses are building smarter infrastructure around receivables, rethinking how payment cycles and client interactions impact their financial rhythm. Empowering teams with real-time data and technology integration has become essential. Many have taken the leap by introducing accounts receivable outsourcing services, which bring a structured rhythm to collections and significantly enhance working capital agility. A renewed focus on AR Management on Financial Success allows companies to operate proactively rather than responsively. Finance teams can identify bottlenecks, forecast collections, and act on credit trends—all in a single system. This intelligent approach removes friction and increases team bandwidth for strategic execution. Supporting these shifts, companies like IBN Technologies serves customized receivables solutions that integrate existing tools and workflows—delivering measurable impact with solutions crafted for each business's financial goals and industry structure. Related Service: AP and AR Automation Services: About IBN Technologies IBN Technologies LLC, an outsourcing specialist with 25 years of experience, serves clients across the United States, United Kingdom, Middle East, and India. Renowned for its expertise in RPA, Intelligent process automation includes AP Automation services like P2P, Q2C, and Record-to-Report. IBN Technologies provides solutions compliant with ISO 9001:2015, 27001:2022, CMMI-5, and GDPR standards. The company has established itself as a leading provider of IT, KPO, and BPO outsourcing services in finance and accounting, including CPAs, hedge funds, alternative investments, banking, travel, human resources, and retail industries. It offers customized solutions that drive AR efficiency and growth. Media Contact Company Name: IBN Technologies LLC Contact Person: Pradip Email: Send Email Phone: +1 844-644-8440 Address: 66, West Flagler Street Suite 900 City: Miami State: Florida 33130 Country: United States Website:
Zawya
26-05-2025
- Business
- Zawya
Jordan's economic 'success' story despite challenges — JEF
AMMAN — The Jordan Economic Forum (JEF) said on Saturday that since its independence, Jordan has managed to build a 'modern, diverse, sustainable and resilient' economy navigating through regional and global challenges. "Jordan's economic journey over 79 years is a model of stability, determination, and strategic planning, and constitutes a solid foundation for a new start towards a sustainable digital economy effectively integrated into the global economy," JEF said in a statement marking Independence Day. The Gross Domestic Product (GDP) has multiplied more than 80-fold since the 1960s, soaring from about JD430 million to over JD37.9 billion in 2024, with a compound annual nominal growth rate of 9.3 per cent. The GDP in dollars will exceed $53.4 billion in 2024, up from less than $1 billion in the 1960s, it added. This transformation reflects the Kingdom's ability to build a 'solid and diverse' economic base as the economic structure has evolved "significantly" since independence, according to a statement by the forum. Agriculture was the "key" component of the GDP in the early decades, but it now accounts for just about 5 per cent, while the industrial sector's contribution rose to about 24 per cent, and the services sector to about 60 per cent, it noted. The forum sees this as an expansion of economic activity and progress in building an economy with multiple drivers that is better able to grow and meet challenges, said the statement. The forum added that the national economy managed to shift from a "limited" agricultural economy to a "modern", multi-sector economy, thanks to investment in human capital, infrastructure development and the adoption of 'well-thought-out' economic policies that have maintained financial and monetary stability and boosted the business environment. The Economic Modernisation Vision (EMV) aims to double the economy to some JD58 billion by 2033, create one million new jobs, and increase real per capita income by 3 per cent annually, according to the forum. JEF recommended that Jordan offers a "real" opportunity for growth if it pursues improvement of the investment environment and supports "productive" sectors. Also, the tourism sector holds a 'strategic' position in the national development scheme and has seen "remarkable" growth, with revenues rising to about $7.4 billion in 2023, about 14.6 per cent of the GDP, when the Kingdom welcomed more than 6.3 million tourists. JEF noted that Jordan managed to attract cumulative foreign direct investment of over $39.5 billion by 2023, mainly in vital sectors, such as infrastructure, energy and technology, reflecting international confidence in Jordan's investment environment and diverse economic opportunities. It also noted that the Kingdom, through "prudent" monetary policies, consolidated the strength of the dinar over the past decades and continues to this day, thus enabling the banking sector to raise its performance to record levels, with bank assets exceeding JD70 billion, while cash deposits reached nearly JD48 billion, 85 per cent of which is in Jordanian dinar. JEF President Mazen Hamoud pointed to free trade agreements Jordan had signed with world countries, more than 22 altogether, most notably with the US, the European Union, and Arab countries, underlining a global recognition of the country's credibility and political and economic stability. "These agreements 'implicitly testify' to efficient Jordanian laws, and the ability to create a reliable commercial and investment environment," he said.
Zawya
26-05-2025
- Business
- Zawya
Oman: The nexus of ICV, human capital development
Oman 2040 strives to dynamically shift the limb of Oman's economic structure towards a diverse knowledge-based economy alongside social development. Another goal is to fulfill the objectives of Vision 2040 which has, in turn, resulted in Oman setting new bounds for productivity and innovation. A central element, for now, is mobilized towards a strategic policy called ICV (In-Country Value) which aims to cultivate the local economy by restricting the outflow of economic value from Oman, enabled through sustainable job creation and localized employment. Alongside this is the Human Capital Development which strives to build an innovative Omani workforce capable of sustaining the nation's long term growth. This powerful synergy between ICV and Human Capital Initiatives serves to yield immense value for Oman through nurturing the local talent to eradicate over dependency on foreign labor. Not having to spend externally on essential profits that come through employment results in an economically self sustaining country. This serves, alongside capturing the cores of capital depletion, to cultivate the intellect Oman needs to stay relevant competitively in the future. This text analyzes the intricate relationships of ICV and Human Capital Development in Oman, which examines how policies, strategies for specific sectors, and education systems are integrating to achieve sustainable and inclusive growth. By addressing the gaps, highlighting the success stories, and offering strategic insights, we aspire to demonstrate how Oman can optimally utilize ICV to emerge as a leading regional human-centered economic development hub. The pillars of ICV include: Employment and training of Omani nationals; Retention of expenditure within Oman; Retention of local service providers and suppliers; and Omani goods and services. All of these pillars support Oman Vision 2040 which states that there is a need for a highly productive and empowered workforce to sustain a diversified and sustainable economy. There exists a legal framework to regulate and monitor the ICV delivery of a company's ICV initiatives through tendering processes where they have to submit ICV plans and mandatory ICV reports. In the oil and gas spheres, there is new legislation that requires companies to budget for mandatory spending on training Omanis, local SME support, and funding community development projects. This has resulted in the establishment of training and certification centers, and even working with local schools to develop programs valued by the workforce. This is how ICV has transformed from a policy instrument into a tool that strategically drives socio-economic development by ensuring that Oman's natural resources and industrial projects result in sustainable national value. DEVELOPING HUMAN CAPITAL (HCD) IN OMAN The term 'Human Capital Development' describes the enhancement of skills, knowledge and competence of an individual so that productivity and contribution to the economy improves. In regard to Oman, human capital development is crucial for achieving the objectives put forth in Vision 2040 where innovation, inclusivity and human empowerment forms the basis of human society. During the past two decades Oman has significantly improved its education, vocational training and general workforce development. There has been a remarkable improvement in the access to primary and secondary education and an increase in the number of higher education and technical colleges. Sultan Qaboos University and the University of Technology and Applied Sciences along with several private colleges have played a significant role in providing a workforce of skilled graduates. The Omanisation policy is one of the main elements of Oman's human capital strategy. The Omanisation policy is meant to reduce the reliance on foreign labor by putting up minimum hiring quotas for Omani nationals in all sectors and industries. Employment opportunities for nationals are guaranteed while at the same time boosting citizens' participation in economic are on-going, but problems remain. There is still a gap between qualifications and actual jobs because the available education does not match opportunity, which businesses regard as having sufficient soft skills, technical skills, and work experience. Hence, there appears to be greater focus on real-world applications through curriculum reforms, strengthening STEM fields, and initiatives supporting education. Consequently, a number of new government initiatives have been implemented, including: The National Training Fund (NTF), which finances training activities within specific industries for employers; Educational scholarships which, accompanied by internships, enhance career prospects through tangible, real-life engagements; and Creative self-employment innovation and entrepreneurship hubs for schools designated to advance innovation and guide students in setting up their businesses. Additionally, training is being provided through public-private partnerships to improve quality and relevance. For example, several leading companies in energy have collaborated with vocational training schools to develop and implement vocational training programs tailored to industry expectations. This ensures that the development of human capital is not only through government policy but also from the current requirements of the economy. Introducing sustainability to economic policies, human capital is regarded as a key element of international competitiveness and productivity. Oman is focused on improving the skills and capabilities of its people, which in turn lays the groundwork for sustainable growth of the country's economy for years to come. COMBINATION OF ICV WITH HUMAN CAPITAL DEVELOPMENT Merging ICV with human capital development gives rise to an economic opportunity in Oman that is planned and executed to achieve inclusivity. This approach fulfills the objective that economic integration should not simply raise revenue, but also provide more value through positive and constructive participation by Omanis as leaders. ICV strategies are often implemented as a follow-up to human capital strategies, as they incorporate workforce creation into procurement and operational policies of the business. For instance, there is a general obligation for companies in Oman to train their staff, create Omani national employee retention strategies, and sponsor local universities by assisting with teacher appointment and building school facilities. Various leaders in the oil and gas industry such as Petroleum Development Oman (PDO) undertake comprehensive ICV strategies, giving rise to large-scale workforce development projects. These include vocational training, leadership training and in most cases the provision of the required prerequisites with Omanis having the needed technical and non-technical skills to compete in the industries. In the same manner, the ICV policies have been implemented in the health sector through clinical trainings, medical teaching programs, and research partnerships. These initiatives improve health services within the country and also ensure that Omanis have a key role in the development and governance of the sector. Targeted ICV interventions also benefit the Information and Communication Technology (ICT) sector which is considered to have high potential under Vision 2040. Such measures include coding boot camps, digital skills training, and technology-focused business incubators directed at enabling young Omanis to contribute to the digital economy. Oman's integrated approach relies heavily on public-private collaborations. Direct involvement of companies in talent management ensures that Oman is providing relevant and modern skills. This provides Oman with a competent and engaged local workforce, improving the company's productivity, and social acceptance to work in that region. 2022 © All right reserved for Oman Establishment for Press, Publication and Advertising (OEPPA) Provided by SyndiGate Media Inc. (
