Economy Oman to build $31m Film City By Pramod Kumar June 24, 2024, 3:52 AM Unsplash.com/Avel Chuklanov Oman's Film City will provide more than 100 job opportunities for Omanis and aims to produce and export films Oman is to build an OR12 million ($31.2 million) ‘Film City’ to boost its entertainment sector, a news report said. The project follows the outcomes of workshops held in March by the ministry of sports, culture and youth, Oman Daily Observer reported, citing a government official. The city is expected to provide more than 100 job opportunities for Omanis and aims to produce and export films, said Nader Al Rawahy, a delegate from the Oman Vision 2040 follow-up unit to the ministry. NewsletterGet the Best of AGBI delivered straight to your inbox every week Other projects include the OR2.2 million ‘Ibda’a Park/Creativity Park’ to attract Omani creators and OR1.1 million ‘Yaj’ to boost Mice tourism – meetings, incentives, conferences and exhibitions – in the sultanate. In addition, the government is in the process of closing a further eight projects at an investment value of OR19 million. However, no details were given. Oman to build agricultural city to enhance food security Luxury hotel revenues in Oman rise to $242m Private sector may not solve Oman’s rise in unemployment “The primary objective is to enable creative industries to stand on its own feet as it represents a promising sector,” said Aisha bint Mohammed Al Saifi, deputy head of the National Programme for Investment and Export Development. The program is currently developing larger-scale projects and investment opportunities within the field, she added.
Markets Oman’s Asyad Group plans IPO of shipping unit Asyad Group, a logistics business owned by Oman’s sovereign wealth fund, has announced plans to float its shipping unit on the Muscat stock exchange. At least 20 percent of Asyad Shipping Company will be sold in the initial public offering. The Asyad IPO will be divided into two tranches. The first is 75 percent of […] 1 hour ago
Video length: 04:02 VIDEO Finance One million users for Saudi Arabia’s Sahm trading app “Riyadh has a population of 8 million. The government is going to double the population. That means money. That means capital,” says Steven Chou, chairman of Saudi-based fintech-driven financial company Sahm Capital. “Local Saudis are keen to look for a new product. They are options lovers,” Chou says, adding that the sectors of interest include […] 49 mins ago In association with
Industry Almarai to increase poultry output by 35% Almarai, the Middle East dairy and food production group, announced plans to increase its poultry output by 35 percent this year as it continues with its multi-billion-dollar expansion plans. The Riyadh company reported fourth-quarter profit of SAR430 million ($115 million), an increase of 16 percent, as revenue rose 4.8 percent to SAR5.15 billion. It announced a […] 1 hour ago
Construction German company to assess proposed Spain-Morocco tunnel A German-owned company has been awarded a contract to conduct a feasibility study on building an undersea railway tunnel between Morocco and Spain, the latest indication that the long-stalled plan could become reality. If built, the tunnel would be one of the longest of its kind worldwide and would make transporting goods and people between […] 2 hours ago
