Latest news with #CNBCArabia
Zawya
6 days ago
- Business
- Zawya
Non-bank financing spurs Oman's private sector growth
MUSCAT: The alternative financing sector is gaining traction in Oman, emerging as a key catalyst for private sector development, according to Olivier Karno, Global Editor-in-Chief at Oxford Business Group. In a televised interview with CNBC Arabia, Karno emphasised the increasing role of non-bank financial solutions, 'In addition to traditional bank loans and credit facilities, the main sources [of funding] are linked to an increase in finance and leasing from the non-banking sector,' he shared. 'This area is essential because it frees up cash and allows companies to reduce the direct cost of obtaining credit and financing. So, if you're in an industry that needs capital — for example, in mining, where the equipment needed to start operations is expensive — instead of turning to traditional lenders, using finance and leasing becomes a flexible and essential solution. It requires a lower volume of initial capital.' Karno noted that these solutions are valuable especially for start-ups and SMES, which often face barriers to accessing traditional financing, 'This is critical for start-ups and for small and medium-sized enterprises, especially in line with Oman Vision 2040. These companies can now access new types and forms of financing.' According to the analyst, alternative financing not only aligns with Oman's economic transformation, but also represents an emerging sector of finance. 'What's important about this sector is that it not only aligns with the growth recorded in Oman in terms of strategy, industrialisation, renewable energy and technology, but also because it represents a fast-changing, dynamic and emerging area of finance. Without a doubt, this is essential for the growth of the private sector, and also for overall economic growth in the Sultanate of Oman.' 2022 © All right reserved for Oman Establishment for Press, Publication and Advertising (OEPPA) Provided by SyndiGate Media Inc. (
Observer
6 days ago
- Business
- Observer
Non-bank financing spurs Oman's private sector growth
MUSCAT: The alternative financing sector is gaining traction in Oman, emerging as a key catalyst for private sector development, according to Olivier Karno, Global Editor-in-Chief at Oxford Business Group. In a televised interview with CNBC Arabia, Karno emphasised the increasing role of non-bank financial solutions, 'In addition to traditional bank loans and credit facilities, the main sources [of funding] are linked to an increase in finance and leasing from the non-banking sector,' he shared. 'This area is essential because it frees up cash and allows companies to reduce the direct cost of obtaining credit and financing. So, if you're in an industry that needs capital — for example, in mining, where the equipment needed to start operations is expensive — instead of turning to traditional lenders, using finance and leasing becomes a flexible and essential solution. It requires a lower volume of initial capital.' Karno noted that these solutions are valuable especially for start-ups and SMES, which often face barriers to accessing traditional financing, 'This is critical for start-ups and for small and medium-sized enterprises, especially in line with Oman Vision 2040. These companies can now access new types and forms of financing.' According to the analyst, alternative financing not only aligns with Oman's economic transformation, but also represents an emerging sector of finance. 'What's important about this sector is that it not only aligns with the growth recorded in Oman in terms of strategy, industrialisation, renewable energy and technology, but also because it represents a fast-changing, dynamic and emerging area of finance. Without a doubt, this is essential for the growth of the private sector, and also for overall economic growth in the Sultanate of Oman.'
Zawya
17-06-2025
- Business
- Zawya
Dubai's Deyaar eyes $545mln in sales from Downtown Residences project
Dubai-listed Deyaar Development is targeting sales of almost 2 billion UAE dirhams ($544.59 million) from its flagship Downtown Residences project in Business Bay, according to CEO Saeed Mohammed Al Qatami. The 110-storey-plus residential tower is expected to break ground in the fourth quarter of 2025, he told CNBC Arabia. The company's development portfolio stands at AED 1.1 billion, which is sufficient for the next two years, Al Qatami said. Deyaar will deliver five projects this year starting July, CNBC Arabia reported. The company has liquidity of nearly AED 1.8 billion and banking facilities of approximately AED 900 million, it said. Last week, Deyaar had announced in a press statement that the 445-metre tall residential twin tower is scheduled for completion in the fourth quarter of 2030. (Writing by P Deol; Editing by Anoop Menon) (
Egypt Today
26-05-2025
- Business
- Egypt Today
$25B of US investment in Egypt, mostly petroleum sector
Petroleum Industries in Egypt - FILE CAIRO - 22 May 2025: Omar Mehanna, Chairman of the Egyptian-American Business Council, said Monday the value of American assets invested in Egypt has reached $25 billion, mostly in the petroleum sector. In an interview with CNBC Arabia, he said there is growing interest from U.S. companies in renewable energy, consumer goods, and chemicals, explaining that this interest stems from a genuine desire by U.S. investors to inject new investments into the Egyptian market in the coming period. He explained that the U.S. presence in the Egyptian market is not new, but rather an extension of decades of successful partnerships. He emphasized that "most, if not all U.S. companies operating in Egypt are achieving good results, and this constitutes a strong attraction for other companies to expand and invest in Egypt." This comes as the Egyptian-U.S. Economic Forum is held in Cairo on Monday.
Zawya
10-03-2025
- Business
- Zawya
Egypt's Palm Hills unveils consolidated profits in 2024, regional expansion plans
Cairo: Palm Hills Developments Company registered 106% higher consolidated net profits after tax and minority interest at EGP 3.25 billion in 2024, compared to EGP 1.58 billion. Earnings per share (EPS) increased to EGP 1.12 last year from EGP 0.53 in 2023, according to the financial results. The sales hit EGP 27.16 billion at the end of December 2024, higher by 56% year-on-year (YoY) than EGP 17.45 billion. Yasseen Mansour, Executive Chairman of Palm Hills, commented: "We anticipate that any favorable policy shifts will contribute to stimulating both the economy and the sector in 2025.' Standalone Business The real estate developer logged standalone net profits after tax amounting to EGP 261.52 million as of 31 December 2024, marking an annual drop from EGP 928.16 million. Non-consolidated EPS plunged to EGP 0.08 in 2024 from EGP 0.31 at the end of December 2023, while the revenues climbed to EGP 6.21 billion from EGP 5.74 billion. In the first nine months (9M) of 2024, Palm Hills recorded sales momentum of EGP 130 billion. Regional Expansion Plans In a statement to CNBC Arabia, Hazem Badran, Co-CEO and Managing Director of Palm Hills, unveiled the company's plans in the Gulf countries. Badan stated that the EGX-listed developer has 16 projects under implementation, with investments exceeding EGP 15 billion by 2025. This is in addition to a land portfolio of 35 million square metres. Palm Hills is currently establishing a fully owned limited liability firm in the Abu Dhabi Global Market (ADGM), marking its entry into the UAE. In August 2024, Magid Ahmed Sami Mohamed Sherif was named the CEO of Palm Hills' business in Saudi Arabia.
