Latest news with #Oman-based
The Hindu
5 days ago
- Business
- The Hindu
Mysuru-based biotech company ties up with firms in Italy and Oman for biodiesel production
Labland Biodiesel, a biotechnology company based in Mysuru, has announced its tie-up with companies in Italy and Oman to establish large-scale bioenergy crop plantations abroad for biodiesel production. The company has been engaged in bioenergy and plant tissue-culture for more than three decades. 'Backed by extensive research in Jatropha, a non-edible, high-yield biodiesel crop, Labland Biodiesel owns proprietary, high-performing seed varieties recognised globally,' said a statement. The partnership with an Italian firm, formalised in February 2025, has kickstarted with pilot plantations in Italy, Spain and Greece, targeting a total expansion of 10,000 acres in each country. 'The partnership will establish a robust supply chain network and collaborate with oil distribution companies in these countries,' the statement said. The agreement with Oman-based partner signed in September 2024 aims at developing plantations of Jatropha and other biofuel crops across the Middle East. The partnership includes joint research and development efforts to identify high-yield biofuel crops suited to the region, along with improvements in processing technology, waste utilisation, and carbon capture initiatives, the statement said. Emphasising the importance of biodiesel, which presents a cleaner and sustainable alternative to petroleum diesel, founder chairman of the Labland Group of Companies Sudheer Shetty said India imports 88.2% of 95 million tonnes of its projected diesel requirement for 2025-26. 'Our vision is to produce 1.5 million tonnes of biodiesel annually. 'We focus on developing plantations across 100,000 acres under Phase 1 with a projected outlay of ₹6,500 crore with an annual production capacity of 500 tonnes a day,' he said in the statement. Managing director of Labland Biodiesel Meghana Bhat said the project is expected to reduce carbon footprint. 'The company will play a major role in carbon capturing that could reshape the regional clean energy landscape. We are strengthening our clean energy capabilities with deeper technologies and production integration to tap the unlocked potential of carbon revenue,' she said in the statement. 'It focuses on improving the economics of biodiesel production. We have received a Letter of Intent for an investment of €500 million from a leading European firm. Further discussions are under way with government of Bahrain and companies in Kenya, Spain and Greece,' the statement added.
Time of India
09-06-2025
- Business
- Time of India
L'Oreal buys British skincare brand Medik8
HighlightsL'Oreal is set to acquire the British skincare brand Medik8, enhancing its portfolio in the rapidly expanding dermatological skincare market. Medik8 specializes in vitamin A-based anti-aging creams and serums, and L'Oreal aims to strengthen its presence in existing markets while expanding globally. L'Oreal's dermatological beauty division has been its fastest-growing sector, achieving revenues of 7 billion euros in the previous year, driven by increasing consumer interest in science-backed skincare products. L'Oreal is to acquire British skincare brand Medik8 , its owner, Britain-based private equity firm Inflexion, said on Monday, boosting the French cosmetics giant's offering in the fast-growing dermatological skincare market . The size of the deal was not disclosed. Medik8 focuses on vitamin A-based anti-ageing creams and serums. "The partnership with L'Oreal will allow Medik8 to deepen its presence in existing markets and expand globally. As part of the transaction, Inflexion will retain a minority shareholding in Medik8," the private equity firm said in a statement. L'Oreal's dermatological beauty division, which includes major brands like CeraVe , La Roche-Posay , and SkinCeuticals , has been its fastest growing in recent years, reaching revenues of 7 billion euros ($7.99 billion) last year, after growing almost 10% on the year before. The business, which also has the highest profit margin among its four divisions, has boomed on growing consumer interest in science-backed products, though growth has slowed recently due to rising competition. L'Oreal executives said this year they were pursuing acquisitions and looking to revive flagging growth. The company acquired Korean skincare brand, Dr.G, in December and also bought a minority stake in Oman-based perfume house Amourage last year.
Fashion Network
09-06-2025
- Business
- Fashion Network
L'Oreal expands dermatological skincare portfolio with Medik8 deal
L'Oreal will acquire British skincare brand Medik8, Britain-based private equity firm Inflexion said on Monday, as the French cosmetics giant boosts its offering in the fast-growing dermatological skincare market. Neither party disclosed the size of the deal. Medik8 produces vitamin A-based anti-ageing creams and serums. "The partnership with L'Oreal will allow Medik8 to deepen its presence in existing markets and expand globally. As part of the transaction, Inflexion will retain a minority shareholding in Medik8," the private equity firm said in a statement. L'Oreal's dermatological beauty division, which includes major brands like CeraVe, La Roche-Posay and SkinCeuticals, has remained its fastest-growing unit in recent years. The division generated 7 billion euros ($7.99 billion) in revenue last year, marking a growth of nearly 10% compared to the previous year. The business also delivers the highest profit margin among L'Oreal's four divisions. Consumer interest in science-backed products has driven the division's growth, though rising competition has recently slowed that momentum. L'Oreal executives said this year they are pursuing acquisitions to revive slowing growth. The company acquired Korean skincare brand Dr.G in December and also bought a minority stake in Oman-based perfume house Amouage last year. © Thomson Reuters 2025 All rights reserved.
Time of India
09-06-2025
- Business
- Time of India
L'Oreal buys British skincare brand Medik8
L'Oreal is to acquire British skincare brand Medik8 , its owner, Britain-based private equity firm Inflexion, said on Monday, boosting the French cosmetics giant's offering in the fast-growing dermatological skincare market . The size of the deal was not disclosed. Medik8 focuses on vitamin A-based anti-ageing creams and serums. "The partnership with L'Oreal will allow Medik8 to deepen its presence in existing markets and expand globally. As part of the transaction, Inflexion will retain a minority shareholding in Medik8," the private equity firm said in a statement. by Taboola by Taboola Sponsored Links Sponsored Links Promoted Links Promoted Links You May Like Top 5 Dividend Stocks for May 2025 Seeking Alpha Read Now Undo L'Oreal's dermatological beauty division, which includes major brands like CeraVe , La Roche-Posay , and SkinCeuticals , has been its fastest growing in recent years, reaching revenues of 7 billion euros ($7.99 billion) last year, after growing almost 10% on the year before. The business, which also has the highest profit margin among its four divisions, has boomed on growing consumer interest in science-backed products, though growth has slowed recently due to rising competition. Live Events L'Oreal executives said this year they were pursuing acquisitions and looking to revive flagging growth. The company acquired Korean skincare brand, Dr.G, in December and also bought a minority stake in Oman-based perfume house Amourage last year. ($1 = 0.8757 euros)
Observer
06-06-2025
- Business
- Observer
Pact to advance urban air mobility in Oman
MUSCAT, JUNE 6 AeroVecto, an Oman-based startup specialising in sustainable air mobility solutions, has announced a strategic partnership with Romanian-based LYNEports, a digital planning platform for advanced air mobility infrastructure, to support the rollout of hybrid electric Vertical Take-Off and Landing (VTOL) aviation services in Oman and the wider GCC region. The partnership is set to take advanced air mobility services, currently in its nascency in Oman, to the next level. A number of Omani startups, in partnership with key players in the global international, are gearing up to introduce uncrewed air mobility services for, among other fields, cargo deliveries, passenger transportation, ambulance services, medical deliveries and even disaster relief. AeroVecto is credited with developing Shuttle, a hybrid eVTOL aircraft purposely built for mass public transportation. According to the company, the high-capacity aircraft will enhance current ground-based public transport by enabling convenient point-to-point travel. With a focus on passenger volume and comfort, Shuttle aims to revolutionise urban and intercity mobility, introducing a new era of clean, efficient and scalable air transport. Through the partnership, LYNEports will assist in planning and simulating AeroVecto's Shuttle network, ensuring each site meets aviation-grade safety standards, operational viability and regulatory requirements. Furthermore, by leveraging LYNEports' AI-driven platform, AeroVecto can evaluate ideal locations, model flight routes and visualise integrated transport systems, accelerating the adoption of advanced air mobility across Oman. 'At AeroVecto, our vision is to make high-capacity aerial commuting a practical reality for cities across the region. We are excited to partner with LYNEports to advance vertiport planning and route optimisation of the Shuttle network, enabling efficient urban air transport for the masses,' said Fahad al Riyami, CEO of AeroVecto, in a statement. 'We're excited to support AeroVecto in bringing their innovative vision to life,' said Rasha Alshami, CEO of LYNEports. 'Their commitment to solving real public transport challenges in the region aligns perfectly with our mission to make AAM infrastructure accessible, safe and well-planned from day one.' AeroVecto's vision extends beyond aircraft development; the company is also designing "Shuttle Hubs" — dedicated vertiports strategically located in urban centres, coastal areas and atop buildings to facilitate seamless boarding and integration with existing transport networks. The Shuttle platform includes variants for cargo delivery, emergency response and premium travel, showcasing its versatility across sectors. Oman is making significant strides in developing its Advanced Air Mobility (AAM) sector, aligning with the Oman Vision 2040 goals for sustainable and smart transportation. The Ministry of Transport, Communications and Information Technology (MoTCIT) has initiated the formulation of a national AAM strategy. This strategy focuses on integrating drones and electric vertical takeoff and landing (eVTOL) aircraft into urban transport systems to alleviate congestion and enhance connectivity. Last July, Oman's national passenger transportation company Mwasalat announced a partnership with US VTOL aircraft manufacturer Odys Aviation to support the development of Aerial Logistics Programmes in the GCC based on the latter's hybrid-electric VTOL aircraft, Laila. Additionally, with the goal of supporting workforce development linked to this emerging sector, a leading college in Muscat has announced a partnership with aircraft maker Boeing to launch the an Air Taxis and Advanced Air Mobility programme designed to provide undergraduate aviation students with opportunities for research, curriculum enrichment and participation in business challenges related to urban air mobility. Together with regulatory support from the Civil Aviation Authority (CAA) and other stakeholder agencies, these developments underscore Oman's ambitions to become a regional leader in advanced air mobility. HIGHLIGHTS Oman is making significant strides in developing its Advanced Air Mobility (AAM) sector, aligning with the Oman Vision 2040 goals for sustainable and smart transportation
