Latest news with #SpecialEconomicZones
Business Insider
17 hours ago
- Business
- Business Insider
Gabon secures $3.8 billion Afreximbank pact for Gold, Manganese and energy projects
Gabon has signed a $3.8 billion memorandum of understanding with the African Export-Import Bank (Afreximbank) to fund major national development projects across mining, energy, and transport sectors. Gabon signed a $3.8 billion MoU with Afreximbank to fund development projects. The agreement aims to enhance mining, energy, and transport sectors in Gabon. Most gold production in Gabon is currently unregulated, requiring better oversight. Gabon has signed a $3.8 billion memorandum of understanding with the African Export-Import Bank (Afreximbank) to fund major national development projects across mining, energy, and transport sectors. The agreement, formalized during Afreximbank's annual general meeting in Abuja, Nigeria, aims to support the development of gold and manganese trading, enhance energy infrastructure, and expand the country's railway network. Gabon's gold sector remains heavily informal, with approximately 70% of production coming from unregulated sources. Inadequate infrastructure, particularly poor road networks, continues to hinder the sector's growth. Afreximbank's support for Special Economic Zones (SEZs) and Africa Quality Assurance Centers (AQACs) is expected to bring greater oversight and formalization, though success will depend on stronger enforcement of mining regulations. As the world's second-largest producer of manganese, a vital mineral for steel production, and one of the smallest members of OPEC+, producing around 220,000 barrels of crude oil per day, Gabon is positioning itself to strengthen industrial and export capacity. According to recent data, Gabon's economy expanded by 2.9% in 2024, largely driven by oil production and increased public investment. Minister of State for Economy, Finance and Debt, Henri-Claude Oyima, signed the agreement on behalf of the Gabonese government. However, President Brice Oligui Nguema, has pledged to reduce Gabon's overdependence on oil by prioritizing sectors such as agriculture, tourism, and manufacturing, part of a broader strategy to combat poverty and diversify the economy.
Economic Times
3 days ago
- Business
- Economic Times
Nifty Realty index surges 8% in a month, outperforms Nifty50. Analysts share outlook, top picks
Amid a challenging market environment driven by geopolitical uncertainties, the Nifty 50 index has managed a 1.4% gain over the past month. In contrast, the Nifty Realty index has outshined, soaring 8% during the same period. ADVERTISEMENT This strong outperformance highlights the continued resilience and momentum in the real estate sector, even as broader markets face headwinds. However, with such an outperformance, is there still time to enter into fresh investments in the sector? Or would it be wise to book some profits? Sudeep Shah, Deputy Vice President and Head of Technical & Derivatives Research at SBI Securities, highlights that although the Nifty Realty index saw some profit booking after its peak of 1,049.50 on June 9, the index continues to trade above its key short- and long-term moving averages, indicating that the upward trend is further notes that Nifty Realty has managed to hold above its 20-day exponential moving average (DEMA) in three out of the last seven sessions, a strong signal of ongoing positive momentum. ADVERTISEMENT He expects the level of 990 to act as strong support, while a move above 1,040 could propel the index towards 1,140-1,150 the constituents, Shah favors Oberoi Realty and Prestige Estates as top picks in the real estate space. ADVERTISEMENT He notes that Oberoi Realty is trading above its short-term moving averages, with its RSI and ADX indicators showing strong bullish momentum. A break above Rs 1,970 could see the stock testing Rs 2,020-2,030 levels. Similarly, Prestige Estates is showing steady movement and could see continued upside, potentially reaching Rs 1,890-1,900 if it breaks past its resistance at Rs 1,755. ADVERTISEMENT Meanwhile, Ashish Chaturmohta, Managing Director and Fund Manager at Apex PMS, JM Financial Ltd., offers a broader view of the sector, emphasizing that real estate cycles typically last 7-8 years, and the sector is currently in the middle of an uptrend. Also read: $40 billion consumption boom coming soon! Is your stock portfolio ready to ride it? Chaturmohta points out that the previous down cycle has paved the way for a shift towards organized developers, giving them pricing power and improving overall realizations. ADVERTISEMENT He attributes the sector's renewed momentum to several macroeconomic factors, including lower interest rates driven by the Reserve Bank of India's policy actions, which have made borrowing cheaper and increased affordability for key factor is the decline in inventory levels, with current levels at 16-17 months, a significant improvement from 42 months in the previous also highlights the ongoing shift in consumer preferences, with premium housing gaining more traction over mass or affordable segments, further boosted by consistent government support, especially in terms of stamp duty the rise of new verticals like data centers, warehousing, and Special Economic Zones (SEZs), all of which are fueling demand due to growing digital and logistics infrastructure improved access to funding, developers are in a stronger position to capitalize on new opportunities and manage market cycles more effectively. Outlook for the sector Overall, the real estate sector looks well-positioned for near-to-medium-term growth, driven by favorable macroeconomic factors such as low-interest rates, strong developer financials, and healthy demand dynamics. Analysts remain optimistic about the sector's outlook, citing robust performance in the realty space, particularly in premium housing and urban redevelopment projects. (Disclaimer: Recommendations, suggestions, views and opinions given by the experts are their own. These do not represent the views of The Economic Times) (You can now subscribe to our ETMarkets WhatsApp channel)
Time of India
3 days ago
- Business
- Time of India
Nifty Realty index surges 8% in a month, outperforms Nifty50. Analysts share outlook, top picks
Amid a challenging market environment driven by geopolitical uncertainties, the Nifty 50 index has managed a 1.4% gain over the past month. In contrast, the Nifty Realty index has outshined, soaring 8% during the same period. This strong outperformance highlights the continued resilience and momentum in the real estate sector , even as broader markets face headwinds. However, with such an outperformance, is there still time to enter into fresh investments in the sector? Or would it be wise to book some profits? Sudeep Shah, Deputy Vice President and Head of Technical & Derivatives Research at SBI Securities, highlights that although the Nifty Realty index saw some profit booking after its peak of 1,049.50 on June 9, the index continues to trade above its key short- and long-term moving averages, indicating that the upward trend is intact. Live Events Shah further notes that Nifty Realty has managed to hold above its 20-day exponential moving average (DEMA) in three out of the last seven sessions, a strong signal of ongoing positive momentum. He expects the level of 990 to act as strong support, while a move above 1,040 could propel the index towards 1,140-1,150 levels. Among the constituents, Shah favors Oberoi Realty and Prestige Estates as top picks in the real estate space. He notes that Oberoi Realty is trading above its short-term moving averages, with its RSI and ADX indicators showing strong bullish momentum. A break above Rs 1,970 could see the stock testing Rs 2,020-2,030 levels. Similarly, Prestige Estates is showing steady movement and could see continued upside, potentially reaching Rs 1,890-1,900 if it breaks past its resistance at Rs 1,755. Meanwhile, Ashish Chaturmohta, Managing Director and Fund Manager at Apex PMS, JM Financial Ltd. , offers a broader view of the sector, emphasizing that real estate cycles typically last 7-8 years, and the sector is currently in the middle of an uptrend. Also read: $40 billion consumption boom coming soon! Is your stock portfolio ready to ride it? Chaturmohta points out that the previous down cycle has paved the way for a shift towards organized developers, giving them pricing power and improving overall realizations. He attributes the sector's renewed momentum to several macroeconomic factors, including lower interest rates driven by the Reserve Bank of India's policy actions, which have made borrowing cheaper and increased affordability for homebuyers. Another key factor is the decline in inventory levels, with current levels at 16-17 months, a significant improvement from 42 months in the previous cycle. Chaturmohta also highlights the ongoing shift in consumer preferences, with premium housing gaining more traction over mass or affordable segments, further boosted by consistent government support, especially in terms of stamp duty stability. Additionally, the rise of new verticals like data centers, warehousing, and Special Economic Zones (SEZs), all of which are fueling demand due to growing digital and logistics infrastructure needs. With improved access to funding, developers are in a stronger position to capitalize on new opportunities and manage market cycles more effectively. Outlook for the sector Overall, the real estate sector looks well-positioned for near-to-medium-term growth, driven by favorable macroeconomic factors such as low-interest rates, strong developer financials, and healthy demand dynamics. Analysts remain optimistic about the sector's outlook, citing robust performance in the realty space, particularly in premium housing and urban redevelopment projects.
Express Tribune
4 days ago
- Business
- Express Tribune
Pakistan, Uzbekistan eye $2b trade goal
PM Shehbaz Sharif and Uzbekistan President Shavkat Mirziyoyev raise hands in solidarity during the joint press stakeout in Tashkent. Photo: PPI Uzbekistan's Ambassador to Pakistan, Alisher Tukhtaev, met Special Assistant to the Prime Minister on Industries and Production, Haroon Akhtar Khan, in Islamabad on Monday to discuss ways to strengthen economic and industrial ties between the two countries. According to an official statement, the Uzbek envoy expressed gratitude for Pakistan's continued support and stressed the need to deepen collaboration in key sectors such as agriculture, pharmaceuticals, energy, and food processing. Khan reaffirmed Pakistan's commitment to enhancing bilateral relations in line with Prime Minister Shehbaz Sharif's vision of increasing trade and industrial cooperation. He highlighted the PM Sharif's target of raising bilateral trade with Uzbekistan to $2 billion, noting that efforts were underway at all levels to achieve this. During the meeting, both sides emphasised the importance of joint ventures in Special Economic Zones (SEZs) and cooperation in public procurement. They also discussed collaboration in e-commerce, with the ambassador inviting Pakistani digital firms to explore opportunities in Uzbekistan.
Observer
5 days ago
- Business
- Observer
Al Rawdah SEZ: A defining moment for Oman's economic future
The recent unveiling of the Al Rawdah Special Economic Zone (SEZ) signals more than just a new development zone. It represents a turning point in Oman's economic journey—an ambitious, forward-looking initiative designed to reshape how we do business, attract capital, and integrate with regional and global markets. Located right on the border with the United Arab Emirates, in Al Buraimi Governorate, Al Rawdah SEZ is not just well placed—it is perfectly positioned. It links Oman directly with the UAE's vast logistical and financial infrastructure while remaining rooted in Oman's vision of inclusive and sustainable growth. This is an opportunity that deserves serious attention from the private sector, investors, SMEs, and government entities alike. This zone is unlike anything we've built before. It offers seamless cross-border access via the Rawdah border post and is strategically connected to two of the Gulf's most important ports—Sohar in Oman and Jebel Ali in Dubai. The ability to shift goods quickly, cut customs delays, and operate within both Omani and Emirati markets from a single base is a game changer. For businesses focused on speed, efficiency, and cost reduction, this is precisely the kind of setup we need in today's unpredictable global trade environment. Moreover, the development is backed by world-class players. DP World, the globally respected ports operator behind Dubai's Jebel Ali Free Zone, is the majority partner in the zone's development. This isn't just a real estate investment—it's a serious, strategic partnership. Oman's Public Authority for Special Economic Zones (OPAZ) has joined hands with DP World through Mahadha Development Company to bring international expertise together with national development goals. When such experienced partners are involved, it sends a strong message to the market: Al Rawdah SEZ is built to deliver. The first phase of the project includes a dry port with a handling capacity of 1.24 million containers annually. That's not just infrastructure—it's economic muscle. It gives businesses flexibility in managing imports, re-exports, and regional supply chains. Combined with dedicated roads, services, and utilities, it allows manufacturers and logistics firms to operate with confidence and speed. But what truly excites me as an economist is the policy framework behind this zone. Oman's new unified law on Special Economic Zones and Free Zones (Royal Decree 38/2025) simplifies how businesses engage with SEZs. We now have a consistent, transparent, and investor-friendly legal foundation. The law allows for full foreign ownership, 10-year tax holidays (with possible extensions), customs exemptions, and easy profit repatriation. Perhaps most importantly, it introduces a one-stop-shop for licensing—cutting red tape and improving the investor experience significantly. This is precisely the kind of bold regulatory reform the business community has been calling for. It's also perfectly in line with Oman Vision 2040, which emphasizes economic diversification, job creation, private sector growth, and knowledge transfer. Investors are not just being asked to set up shop; they're being welcomed into a system that respects their capital and time. The target sectors also show a smart and balanced strategy. Manufacturing, logistics, food processing, mining, pharmaceuticals, plastics, and safety services are all part of the initial rollout. These industries not only generate jobs and exports, they also bring technical know-how, help grow SMEs around them, and create demand for local services—from transportation to maintenance to hospitality. SMEs, in particular, have a lot to gain from this development. Al Rawdah is not just for large multinational firms. The ecosystem being built offers opportunities for small and medium-sized enterprises to plug into regional value chains. If we plan wisely, SMEs can provide support services, sub-contracting, packaging, distribution, and even tech-based solutions to the major tenants of the SEZ. What makes this zone even more relevant is its timing. Our trade with the UAE reached a record $15.2 billion in 2024. Al Rawdah SEZ is perfectly positioned to drive that number higher. By reducing friction and encouraging co-location of Emirati and Omani businesses, we are laying the groundwork for more value-added exports and regional production. This is not just about Oman serving the UAE; it's about both countries co-building competitive industries. Of course, no project of this scale is without challenges. Regional competition is fierce. Human capital development remains critical. We must ensure that our education, training, and business development programs are aligned with the needs of the zone. However, these are not reasons for hesitation—they are reasons for action. I call on Omani entrepreneurs, business owners, and investors to view Al Rawdah SEZ as more than a project—it is a platform. A platform to reach new markets, to collaborate with regional players, to test innovations, and to scale with confidence. It is a place where the private sector can lead, supported by a responsive government and strong international partners. For government stakeholders, Al Rawdah offers a chance to redefine governance around economic development. Fast-tracking approvals, integrating logistics systems, and enabling digital trade should be priorities. Let this be the model for how Oman does business going forward—efficient, connected, and globally competitive. In summary, Al Rawdah SEZ is not just another development zone. It is a symbol of what is possible when vision meets execution, and when partnership replaces isolation. Let us seize this opportunity—together. Dr Yousuf Hamed al Balushi The writer is founder and CEO - Smart Investment Gateway, economists, board adviser & business transformation mentor.
