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How Liquid Are Physical Gold Assets And What Makes Them Easy To Convert To Cash Globally?Omantel, the leading telecommunications service provider in the sultanate, has been recognised at the Business Today CXO Awards by Apex Media for its remarkable achievements in driving innovation, digital transformation, and technological advancement. The awards celebrated Omantel’s pivotal role in positioning the sultanate as a regional leader in the telecom industry. At the awards ceremony, Omantel’s Chief Executive Officer, Talal al Mamari and Chief Financial Officer, Ghassan al Hashar were individually honoured as CEO of The Year in Telecom Sector and CFO of The Year in Telecom Sector respectively, for their exceptional leadership, which has been instrumental in shaping Omantel’s transformational journey and its continued success. Under the visionary leadership of Mamari and the strategic financial stewardship of Hashar, Omantel has reached significant milestones that reflect its commitment to excellence and sustainable growth. Mamari’s leadership has guided Omantel through transformative projects, including the integration of fixed and mobile operations, the acquisition of a controlling stake in Kuwait’s Zain Group, and the creation of Zain Omantel International (ZOI), a joint venture serving over 55mn customers across eight markets. Hashar has been instrumental in optimising Omantel’s operations to support innovation and growth. His financial strategies have enabled key investments in cutting-edge technologies and infrastructure, ensuring that Omantel remains competitive and forward-looking in a dynamic market. Omantel’s achievements are further underscored by its partnerships with global technology leaders, including Huawei, AWS, and Google, which have accelerated advancements in artificial intelligence, cloud computing, and digital transformation. These collaborations have enabled the company to deliver innovative solutions that empower businesses and enhance connectivity across Oman and beyond. A cornerstone of Omantel’s innovation strategy is its Innovation Labs, established in 2021 to support local startups and foster entrepreneurship. The Labs provide entrepreneurs with access to infrastructure, investment opportunities, and programmes to accelerate their growth. These efforts have driven the development of quality startups offering solutions that align with Omantel’s strategic goals, while contributing to Oman Vision 2040. Through the integration of its operations, processes, and extensive expertise in the field of communications and digital technology, Omantel has succeeded in establishing its position as a leading telecommunications company within Oman and beyond. The company’s innovative approaches have contributed to providing state-of-the-art solutions to various consumer and business sectors. Omantel aims to deliver an unparalleled, exceptional experience to its customers and strives always to exceed their expectations. To achieve the objectives of Oman Vision 2040, Omantel invests in emerging technologies and provides cutting-edge ICT solutions such as cloud solutions, AI, smart solutions, cybersecurity, and more, harnessing its technological capabilities to enhance innovation and leadership in new and advanced technologies.
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NFL Fans React To Major Snowstorm In Forecast For Week 13Private and Public Cloud Market in Financial Services to Grow by USD 106.43 Billion (2024-2028), Driven by Big Data and AI-Influenced Market Trends - TechnavioFIRST Gen Corp. (First Gen), a subsidiary of Lopez-led First Philippine Holdings Corp. (FPH), said it had renewed its partnership with Far Eastern University for the direct supply of renewable energy (RE) to FEU's Manila and Alabang campuses. FEU said it renewed the partnership with First Gen, one of the leading RE suppliers in the country, to improve its operational efficiency and sustainability. Register to read this story and more for free . Signing up for an account helps us improve your browsing experience. OR See our subscription options.
BEIJING: China’s leaders are expected to meet this week to flesh out economic targets for next year, after Beijing announced a major policy shift in a bid to stimulate growth. Here’s what you need to know about the government’s changing approach and the problems facing the world’s second-largest economy: How has China’s policy changed? The leadership said Monday that Beijing would implement a “moderately loose” monetary policy and a “more proactive” fiscal policy next year. The terminology represented a shift away from the government’s previous commitment to a more cautious approach. And analysts said the announcement marked the boldest such pivot since Beijing adopted fiscal prudence in 2011 to address the fallout from the global financial crisis. The disclosure showed the government recognized the urgency of its economic woes and was willing to tackle them directly, analysts said. “The strong tone on policy stance suggests that Beijing is very determined to stabilize growth and will step up fiscal spending next year,” said Ting Lu, chief China economist at Nomura. Stimulus measures expected Monday’s statement gave few details of what the policy would look like, but experts said it should create room for more forceful stimulus measures. Teeuwe Mevissen, senior China economist at Rabobank said a looser monetary strategy would allow Beijing to make further cuts to interest rates and the amount of cash banks must hold in reserve. Policymakers could also back asset purchase programs and a weakening of the yuan, while on the fiscal side they could raise the budget deficit to slash taxes or beef up social security, Mevissen added. Beijing has already announced a raft of stimulus measures in recent months, scything some rates to record lows, easing curbs on homebuying and offering trade-ins and other programs to boost consumption. But the moves have been criticized for a perceived lack of ambition, scarce detail and questionable impact. Shehzad Qazi, managing director of consultancy firm China Beige Book, said looser monetary policy alone “will not cut it”. “Monetary stimulus will only work if Beijing lifts broader business and household confidence,” he told AFP. Challenges economy faces A debt crisis in the crucial housing sector, chronically low consumption and high youth unemployment are some of the key issues that have dragged on Chinese growth since the end of the pandemic. Beijing faces an uphill struggle to expand gross domestic product by its target of around five percent this year—itself a far more modest figure than its double-digit growth around a decade ago. The picture is expected to darken further after US President-elect Donald Trump takes office next month and renews a trade war that would see imports from China subjected to high additional tariffs. China’s GDP could fall by 1.5 percent in the “next few years” if Trump imposes his threatened tariffs of 60 percent, according to analysts at ANZ. Qazi, of China Beige Book, said growing geopolitical tensions would leave markets “salivating for more and more stimulus”. But if Beijing excessively supports the supply side, “it’ll only worsen the overcapacity problem, lead to more cheap Chinese goods being dumped abroad, and only raise trade tensions” even further, he added. President Xi Jinping said Tuesday that the government had “full confidence” in meeting the annual target—and warned that any trade war with Washington would have “no winners”. What is expected? The Central Economic Work Conference will sketch out economic targets for 2025. It is not open to the public, and its exact timing and agenda have not been announced. But state news agency Xinhua published a series of economic reports in recent days that have hinted at the topics under discussion. It said future monetary policy would likely “continue to strengthen counter-cyclical adjustments (and)... improve the precision and effectiveness of support for the real economy”. The strategy would also “create a favorable monetary and financial environment for stable economic growth”, Xinhua said. Nomura’s Lu said the meeting may again signal “a sizeable borrowing program for 2025, though it is unlikely to announce details”. It “may also mention some policies to support consumption by spending on social security for lower-income households and encouraging childbirth”, he added. Looking further ahead, he said, Beijing may set a growth target of around 4.5-5.0 percent for 2025. - AFPThe dollar rose on Tuesday ahead of U.S. inflation data that could offer clues about the Federal Reserve’s monetary-easing path, while analysts assess the likely impact of President-elect Donald Trump’s policies when he begins his second term. The Australian dollar dropped sharply as the Reserve Bank of Australia softened its tone on the inflation outlook, while the rally sparked by China stimulus pledges tapered off after weak Chinese trade data. Money markets are pricing an 86% chance of a 25-bps rate cut by the U.S. Federal Reserve next week, but some analysts warned that Fed hawks could have more weight in the upcoming decisions. “The Fed’s consensus (median) will be to tilt the outlook in a more hawkish direction than in September or November,” said Thierry Wizman, global forex and rates strategist at Macquarie. The U.S. dollar rose 0.5% to 151.980 yen . The dollar index , which measures the currency against the yen and five other major peers, rose 0.42% to 106.6. Market participants see little action before a busy second half of the week with the U.S. data and European Central Bank policy meeting. An ECB quarter-point cut is baked in, but investors will focus on the communication, which could provide clues about the central bank’s future moves. The euro dropped 0.48% to $1.0503. The Aussie fell 1.09% to $0.6371, a level that had not been seen since Aug. 5. It rose 0.8% the previous day after China pledged an “appropriately loose” monetary policy next year. “If we can get Chinese stocks to rally, China-sensitive commodities like copper to rally, that could depress the U.S. dollar a little bit,” said Erik Bregar, director of FX & precious metals risk management at Silver Gold Bull. “You can feel there’s a lot of pressure over there to do something.” China’s exports grew at a slower pace in November, while imports unexpectedly shrank, affecting expectations for the Australian economy, as China is its largest trading partner. Chinese equities eased gains while Hong Kong stocks declined as the initial optimism over Beijing’s policy shift faded. The RBA held rates steady as expected, but noted the board had gained “some confidence” inflation was heading back to target. “A full pricing-in (of a rate cut) over the next few weeks would weigh further on the Australian dollar,” said Volkmar Baur, forex strategist at Commerzbank, recalling that two labour market reports and the inflation figures for the fourth quarter will be published before the next policy meeting in February. The New Zealand dollar dropped in sympathy with the Aussie, declining 1.13% to $0.5799. Investors will closely watch China’s closed-door Central Economic Work Conference this week, which sets key targets and policy intentions for next year. The yuan was last at 7.2632 per dollar in offshore trading , supported by Monday’s surprise shift in Beijing’s monetary policy stance toward more easing to boost the ailing economy. Elsewhere, the Bank of Canada and the Swiss National Bank decide policy on Wednesday and Thursday, respectively, with deep rate cuts expected from both. Against Canada’s loonie , the U.S. dollar rose to its strongest level since April 2020 at C$1.4191. Source: Reuters (Reporting by Hannah Lang in New York and Stefano Rebaudo; Editing by Shri Navaratnam, Kim Coghill, Jamie Freed, Ed Osmond, Alexander Smith and Rod Nickel)
News of record - Nov. 25, 2024US budget airlines are struggling. Will pursuing premium passengers solve their problems? DALLAS (AP) — Delta and United Airlines have become the most profitable U.S. airlines by targeting premium customers while also winning a significant share of budget travelers. That is squeezing smaller low-fare carriers like Spirit Airlines, which filed for bankruptcy protection on Monday. Some travel industry experts think Spirit’s troubles indicate less-wealthy passengers will have fewer choices and higher prices. Other discount airlines are on better financial footing but also are lagging far behind the full-service airlines when it comes to recovering from the COVID-19 pandemic. Most industry experts think Frontier and other so-called ultra-low-cost carriers will fill the vacuum if Spirit shrinks, and that there's still plenty of competition to prevent prices from spiking. Bitcoin ticks closer to $100,000 in extended surge following US elections NEW YORK (AP) — Bitcoin is jumping again, setting another new high above $99,000 overnight. The cryptocurrency has been shattering records almost daily since the U.S. presidential election, and has rocketed more than 40% higher in just two weeks. It's now at the doorstep of $100,000. Cryptocurrencies and related investments like crypto exchange-traded funds have rallied because the incoming Trump administration is expected to be more “crypto-friendly.” Still, as with everything in the volatile cryptoverse, the future is hard to predict. And while some are bullish, other experts continue to warn of investment risks. Australia rejects Elon Musk's claim that it plans to control access to the internet MELBOURNE, Australia (AP) — An Australian Cabinet minister has rejected X Corp. owner Elon Musk’s allegation that the government intends to control all Australians' access to the internet through legislation that would ban young children from social media. Treasurer Jim Chalmers said on Friday that Musk’s criticism was “unsurprising” after the government introduced legislation to Parliament that would fine platforms including X up to $133 million for allowing children under 16 to hold social media accounts. The spat continues months of open hostility between the Australian government and the tech billionaire over regulators’ efforts to reduce public harm from social media. Parliament could pass the legislation as soon as next week. Oil company Phillips 66 faces federal charges related to alleged Clean Water Act violations LOS ANGELES (AP) — Oil company Phillips 66 has been federally indicted in connection with alleged violations of the Clean Water Act in California. The Texas-based company is accused of discharging hundreds of thousands of gallons of industrial wastewater containing excessive amounts of oil and grease. The U.S. Department of Justice announced the indictment on Thursday. Phillips is charged with two counts of negligently violating the Clean Water Act and four counts of knowingly violating the Clean Water Act. An arraignment date has not been set. A spokesperson for the company said it was cooperating with prosecutors. US regulators seek to break up Google, forcing Chrome sale as part of monopoly punishment U.S. regulators want a federal judge to break up Google to prevent the company from continuing to squash competition through its dominant search engine after a court found it had maintained an abusive monopoly over the past decade. The proposed breakup floated in a 23-page document filed late Wednesday by the U.S. Justice Department calls for Google to sell its industry-leading Chrome web browser and impose restrictions designed to prevent Android from favoring its search engine. Regulators also want to ban Google from forging multibillion-dollar deals to lock in its dominant search engine as the default option on Apple’s iPhone and other devices. What you need to know about the proposed measures designed to curb Google's search monopoly U.S. regulators are proposing aggressive measures to restore competition to the online search market after a federal judge ruled that Google maintained an illegal monopoly. The sweeping set of recommendations filed late Wednesday could radically alter Google’s business. Regulators want Google to sell off its industry-leading Chrome web browser. They outlined a range of behavioral measures such as prohibiting Google from using search results to favor its own services such as YouTube, and forcing it to license search index data to its rivals. They're not going as far as to demand Google spin off Android, but are leaving that door open if the remedies don't work. Stock market today: Wall Street gains ground as it heads for a winning week NEW YORK (AP) — Stocks gained ground on Wall Street, keeping the market on track for its fifth gain in a row. The S&P 500 was up 0.4% in afternoon trading Friday. The Dow Jones Industrial Average climbed 351 points and the Nasdaq composite rose 0.2%. Retailers had some of the biggest gains. Gap soared after reporting quarterly results that easily beat analysts' estimates. EchoStar fell after DirecTV called of its purchase of that company's Dish Network unit. European markets were mostly higher and Asian markets ended mixed. Treasury yields held relatively steady in the bond market. Crude oil prices gained ground. Apple and Google face UK investigation into mobile browser dominance LONDON (AP) — A British watchdog says Apple and Google aren't giving consumers a genuine choice of mobile web browsers. The watchdog's report Friday recommends they face an investigation under new U.K. digital rules taking effect next year. The Competition and Markets Authority took aim at Apple, saying the iPhone maker’s tactics hold back innovation by stopping rivals from giving users new features like faster webpage loading. The CMA’s report also found that Apple and Google manipulate the choices given to mobile phone users to make their own browsers “the clearest or easiest option.” Apple said it disagreed with the findings. German auto supplier Bosch to cut 5,500 jobs in further sign of carmakers' woes FRANKFURT, Germany (AP) — Germany's technology and services company Bosch is cutting its automotive division workforce by as many as 5,500 jobs in the next several years, in another sign of the headwinds hitting the German and global auto industries. The company cited stagnating global auto sales, too much factory capacity in the auto industry compared to sales prospects and a slower than expected transition to electric-powered, software-controlled vehicles. Some 3,500 of the job reductions would come before the end of 2027 and would hit the part of the company that develops driver assistance and automated driving technologies. About half those job reductions would be at locations in Germany. At least 15 people are sick in Minnesota from ground beef tied to E. coli recall U.S. health officials say at least 15 people in Minnesota have been sickened by E. coli poisoning tied to a national recall of more than 160,000 pounds of potentially tainted ground beef. Detroit-based Wolverine Packing Co. recalled the meat this week after Minnesota state agriculture officials reported multiple illnesses and found that a sample of the product tested positive for E. coli O157:H7, which can cause life-threatening infections. Symptoms of E. coli poisoning include fever, vomiting, diarrhea and signs of dehydration.
Former U.S. President Bill Clinton was admitted to a Washington-area hospital on Monday. “President Clinton was admitted to Georgetown University Medical Center this afternoon for testing and observation after developing a fever,” Clinton’s deputy chief of staff Angel Ureña on X. “He remains in good spirits and deeply appreciates the excellent care he is receiving.” “The former president will be fine,” a source close to Clinton NBC News. “He developed a fever and wanted to be checked out. He is awake and alert.” Clinton, 78, was at home in Washington when he was taken to the hospital, CNN . The former president was with a non-Covid infection that spread to the blood stream in 2021. He also has a history of cardiac issues, requiring a to open an artery in 2010 and a quadruple bypass heart surgery in 2004. Throughout the fall, Clinton on behalf of fellow Democrat Vice President Kamala Harris in her ultimately unsuccessful race against Donald Trump. On the trail, Clinton hammered Trump and made the occasional joke about his own age. “Two days ago I turned 78 – the oldest man in my family,” Clinton told the Democratic National Convention in August. “And the only personal vanity I want to assert, is that I’m still younger than Donald Trump.” “[H]ow does Donald Trump use his voice? Mostly to talk about himself—his vengeance, vendettas, complaints, conspiracies,” the former president added. “The next time you hear him, don’t count the lies, count the I’s. He’s like the tenor warming up before the opera: me, me, me, me.” Clinton’s name also surfaced during lighter fare, when actor Gwyneth Paltrow told the long-running YouTube series that Clinton very publicly fell asleep during a screening of her 1996 film at the White House. “True – he was snoring right in front of me,” Paltrow . In November, Clinton published a memoir, , about his time in public life after leaving the presidency.Referee David Coote will not appeal against termination of contract
Saquon Barkley is the NFL's version of Shohei Ohtani: AnalysisGLENS FALLS, N.Y. — The Adirondack Thunder can watch football all day Thursday.Before and after they’ll be busy with a three-game Thanksgiving homestand, starting Wednesday against the Trois-Rivieres Lions before battling the Reading Royals on Friday and Saturday.When it’s over, the Thunder will have played 10 games in 16 days, one of the most grueling [...]
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