Partnership signed to elevate Oman's esports ecosystem
This collaboration marks a major milestone in Nova's mission to advance the gaming and esports economy in Oman. Through this partnership, Nova will integrate Duamentes cutting-edge analytics and UX methodologies into its training programs, tournaments, and digital platforms enhancing player development, competitive performance, and fan engagement.
Nova E-Sports was founded to empower local talent and elevate Oman's presence in the international gaming arena. The organisation is actively building infrastructure for professional esports training, boot camps, and large-scale gaming events. With a growing team of dedicated professionals, Nova is leading the way in creating pathways for youth to turn passion into profession.
Duamentes brings over a decade of global experience, having supported developers, publishers, and studios in more than 35 countries. Specialising in behavioural science, player psychology, and UX strategy, Duamentes helps teams optimise game design, player engagement, and product-market fit from ideation to live service. Their client portfolio spans triple-A titles and indie successes alike, making them a trusted partner in shaping game experiences that resonate.
By combining Nova's regional leadership and cultural insight with Duamentes global expertise, the partnership will champion innovation, player first design, and inclusive community building. supporting Oman's Vision 2040 and the nation's broader digital transformation goals.
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Times of Oman
2 hours ago
- Times of Oman
India to gain from FTA with UK, 99% Indian exports to benefit from zero duty
New Delhi: Two months after India and United Kingdom concluded Free Trade Agreement (FTA), the two countries are poised to sign the mutually beneficial landmark trade pact during Prime Minister Narendra Modi's visit to UK beginning on Wednesday. Ahead of PM Modi's visit, the Union Cabinet approved the FTA on Tuesday. The deal, called the Comprehensive Economic and Trade Agreement (CEPA), is set to be signed on Thursday in presence of PM Modi and British Prime Minister Keir Starmer. Commerce and Industry Minister Piyush Goyal will also be in London for the crucial trade deal. India and UK had announced the conclusion of agreement on May 6 and the full text of the deal was held back pending final legal review. The idea behind the trade deal is to eliminate or reduce tariffs on imports and exports between the two nations. This should make Indian products competitive in the UK and vice versa. Both nations desire to increase their trade to USD 120 billion by 2030. As announced earlier, India is set to benefit from the elimination or reduction of tariffs on about 99 per cent of its exports to the UK post the FTA. The FTA is expected to boost key sectors such as textiles, leather, footwear, sports goods and toys, marine products, gems and jewellery, engineering goods, auto parts and engines, and organic chemicals. "The FTA ensures comprehensive market access for goods, across all sectors, covering all of India's export interests. India will gain from tariff elimination on about 99% of the tariff lines covering almost 100% of the trade value offering huge opportunities for increase in the bilateral trade between India and the UK," Commerce and Industry Ministry had said in its release on May 6. . India, in turn, will reduce tariffs on 90 per cent of its imports from UK (tariff lines) in phases, with 64 per cent seeing an immediate cut. The British food and drinks sector will be among the immediate beneficiaries of the trade deal. Nearly 90 per cent of UK exports in this category are Scotch whisky, which currently faces a 150 per cent tariff. Under the new agreement, tariffs on whisky and gin will initially drop to 75 per cent, and further to 40 per cent over a period of ten years. The agreement also includes commitments on services, covering IT/ITeS, financial and professional services (including architecture and engineering), as well as educational services. It will simplify mobility for Indian professionals and provide a three-year exemption from social security contributions in the UK for temporary Indian workers and their employers. Social security contributions post FTA will be paid in India, rather than in both places. Automotive tariffs is set to be cut from over 100 per cent to 10 per cent under a tariff rate quota system. This could pose a significant challenge to the Indian automobile sector and run counter to the 'Make in India' initiative. The UK government announced on May 6, 2025 that the country had concluded a free trade agreement (FTA) with India describing it as a "huge economic win for the UK" and a "landmark trade deal". It emphasised the potential of the Indian market with its economy expected to be the third largest in the world by 2028. Some issues like details of auto quotas and carbon border taxes are still to be revealed. Politico earlier reported that the latter is being dealt with outside the trade deal in separate, ongoing negotiations. In addition, negotiations on a Bilateral Investment Treaty (BIT) are ongoing. In his departure statement, PM Modi said that India and UK share a Comprehensive Strategic Partnership that has witnessed significant progress in recent years. "Our collaboration spans a wide range of sectors, including trade, investment, technology, innovation, defence, education, research, sustainability, health and people-to-people ties," he said. PM Modi said that during his meeting with the UK Prime Minister, they will have the opportunity to further enhance our economic partnership, aimed at fostering prosperity, growth and jobs creation in both countries.
Observer
12 hours ago
- Observer
For investors, UK is now ‘an attractive place to be'
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Muscat Daily
16 hours ago
- Muscat Daily
ITHCA Group, Amazon invest in US chip tech pioneer Lumotive
Muscat – Lumotive, the US-based pioneer in programmable optical semiconductor technology, on Tuesday announced investments from Oman's ITHCA Group and the Amazon Industrial Innovation Fund. The investments will help Lumotive rapidly accelerate product deployments in industrial applications and enhance its global market presence, the Redmond, Washington-based company said in a press statement. Lumotive said that the investment from ITHCA Group, Oman's sovereign tech fund, reflects a strategic alignment with its breakthrough technology and the sultanate's digital transformation goals. It said, 'As Oman accelerates smart infrastructure and AI initiatives, Lumotive's entry into the region positions both sides to benefit from regional momentum and global innovation.' Said Abdullah al Mandhari, CEO of ITHCA Group, said, 'This strategic investment reflects our confidence in Lumotive's world-class technology and its potential impact on the region. Lumotive's presence in Oman strengthens our innovation ecosystem and supports national priorities across telecommunications, AI, and smart infrastructure. We are proud to welcome Lumotive to our growing portfolio of future-focused companies.' Earlier in May 2025, ITHCA Group signed the investment agreement with Lumotive in the field of programmable semiconductors. The agreement was signed by Mandhari and Sam Heidari, CEO of Lumotive. The investment in Lumotive constitutes a strategic step in the progress of ITHCA Group, boosting its role in supporting global innovators and backing Oman's semiconductor ambitions. It also aligns with Oman's national digital transition plan under Vision 2040, which seeks to promote Oman as a regional hub for advanced technologies and a knowledge-based economy. Additionally, the Amazon Industrial Innovation Fund backs technologies that advance automation, robotics, and next-generation industrial systems. Its support of Lumotive signals confidence in the company's game-changing approach – replacing bulky mechanical optical components with a fully digital, reconfigurable semiconductor. Lumotive's LCM™ platform enables a new era of intelligent perception systems that are compact, software-defined, and essential for the factories, robots, and logistics networks of the future. With Amazon's backing, Lumotive joins a select group of transformative companies shaping the future of automation and industrial AI. 'We invest in breakthrough technologies that redefine what's possible – and Lumotive is doing just that,' said Franziska Bossart, Director, Amazon Industrial Innovation Fund. 'With their programmable optical beamforming chips, Lumotive is building a critical foundation for the next generation of intelligent machines. We are excited to support their mission and see broad potential for their technology in industrial automation, robotics, and beyond.' Dr Sam Heidari, CEO of Lumotive, said that the investments from ITHCA Group and the Amazon Industrial Innovation Fund reinforce the transformational potential of their programmable optical semiconductor platform. 'As global industries embrace software-defined automation, Lumotive is uniquely positioned to deliver the intelligent sensing solutions needed for the future of robotics, logistics, and manufacturing. This funding fuels our mission to scale rapidly and lead this new wave of innovation,' he added. The investments by Amazon and ITHCA Group, together with financing by Stifel Bank, expand Lumotive's Series B-related funding and add to previous investments from EDOM, East Bridge, Gates Frontier, Grazia, HiMax, Hokuyo, MetaVC Partners, Quan Funds, Swisscom Ventures, and TSVC. As adoption of its optical semiconductor platform accelerates, Lumotive is positioned to power the next generation of applications across automation, mobility, smart infrastructure, and beyond.
