Latest news with #privateSector
Arabian Business
10 hours ago
- Business
- Arabian Business
Oman announces holiday for public and private sectors
Oman has announced an official holiday for public and private sectors at the end of this month. Sunday, June 29 has been announced as an official holiday for employees of the public and private sectors on the occasion of the new Hijri year 1447 AH. With Friday and Saturday being a typical weekend for many in the country, it means a three-day break, with workers able to rest from June 27 to 29. Oman announces Islamic New Year holiday The Ministry of Labour pointed out that employers may agree on terms to engage employees on the said holiday—if deemed necessary due to the nature of their work—provided they compensate the workers for the holiday.
News.com.au
15 hours ago
- Business
- News.com.au
Boosting productivity will strengthen the Australian private sector
HSBC Australia's Chief Economist Paul Bloxham emphasises the need to address productivity to boost the 'What we need is the private sector to start to revive and to recover,' Mr Bloxham told Sky News host Ross Greenwood. 'How do you get the private sector to pick up … part of it's going to be helped along by interest rates coming down a bit. 'Unless we lift productivity … competition, tax reform, the regulatory environment, all the things that will help to lift the private sector.'
Zawya
2 days ago
- Business
- Zawya
South Africa gains access to $1bln green industry fund to accelerate industrial decarbonisation
South Africa has been selected as one of seven emerging economies to benefit from a $1bn concessional financing programme aimed at decarbonising heavy industry and supporting green economic development. The funding, made available through the Climate Investment Funds' (CIF) new Industry Decarbonization Investment Programme, positions South Africa to unlock significant opportunities in clean energy, low-carbon manufacturing, and circular economy innovation. The CIF initiative—described as the world's first large-scale concessional fund focused on decarbonising industry—targets high-emitting sectors such as steel, aluminium, cement, and chemicals. Alongside South Africa, other beneficiary countries include Brazil, Egypt, Mexico, Namibia, Türkiye, and Uzbekistan. Catalysing industrial transformation This funding comes at a pivotal time for South Africa, which is seeking to balance its global decarbonisation commitments with a just energy transition that safeguards jobs and economic growth. The CIF programme will work closely with multilateral development banks (MDBs) and the private sector to co-develop national investment plans. These will prioritise technologies such as green hydrogen, waste-heat recovery, low-carbon materials, and carbon capture and storage. The concessional nature of the finance makes the programme particularly attractive to the private sector. It allows for up to 100% funding of projects, with at least 50% of investment guaranteed. According to CIF, each dollar of concessional capital is expected to mobilise an additional $12 in public and private co-financing, potentially catalysing more than $12bn in total investments across the seven countries. Implications for the local market South Africa's inclusion is expected to accelerate the rollout of flagship initiatives such as the SA-H2 fund—a $1bn blended-finance platform launched in partnership with Dutch and Danish investors to support green hydrogen infrastructure. The CIF programme may also support decarbonisation pilots in South Africa's hard-to-abate sectors, particularly mining, cement, and steel, which together contribute significantly to national emissions. For South African financiers and industrial players, this opens up a pipeline of bankable projects, many of which will require strong public-private partnerships, rigorous environmental criteria, and scalable technology platforms. Furthermore, the emphasis on circular economy models presents new avenues for innovation in industrial waste reuse, energy efficiency, and material substitution. A Just Transition focus CIF's chief executive officer, Tariye Gbadegesin, emphasised that the programme is not just about reducing carbon emissions, but about building long-term industrial competitiveness and resilience. As such, the initiative includes a strong focus on social safeguards and workforce reskilling to support communities dependent on carbon-intensive industries. This aligns with South Africa's Just Transition Framework, which advocates for inclusive development and community protection as the country shifts toward a low-carbon economy. Stakeholders will need to ensure that decarbonisation projects integrate training programmes, job-placement mechanisms, and stakeholder engagement strategies from the outset. Strategic outlook As global value chains become increasingly green and regulated, access to CIF funding provides South Africa with a critical lever to modernise its industrial base and retain relevance in export markets—particularly in the EU, which is tightening carbon border measures. The next steps involve co-designing South Africa's national investment plan in consultation with MDBs and private-sector partners, followed by project rollouts that will likely begin in 2026. For financiers, developers, and corporate leaders, this marks a strategic opportunity to engage in scalable, socially responsible green industrialisation. All rights reserved. © 2022. Provided by SyndiGate Media Inc. (
Zawya
2 days ago
- Business
- Zawya
Egypt signs 6 green investments deals with development partners, private sector
Egypt penned six agreements and cooperation protocols with development partners, business associations, and private sector representatives. The key deals were signed during the 'Development Finance to Foster Private Sector-Led Growth & Jobs' conference, according to a press release. The contract aims to advance renewable energy projects, support green industries, and expand the 'HAFIZ' platform, while boosting investment and financing for enterprises. Deals Signed under NWFE Under the Nexus of Water, Food and Energy (NWFE) program, the government inked three contracts to advance its renewable energy ambitions and attract substantial foreign investment. The agreements included the financial close for the 1 GW Obelisk Solar Power Plant, which will feature 200 megawatt-hour (MWh) of battery storage. The first project, developed by Norwegian firm Scatec, will be implemented with total investments of $600 million. A total of $479 million will be provided by the European Bank for Reconstruction and Development (EBRD), British International Investment (BII), and the African Development Bank (AfDB) to Scatec's subsidiary, Obelisk Solar Energy. Additionally, the Egyptian Electricity Transmission Company (EETC) penned a $1 billion power purchase agreement with Scatec for the 900 MW Shadwan Wind Power Project in Ras Shukeir, Gulf of Suez. The third deal was signed between IFC and AMEA Power to finance Egypt's first utility-scale battery storage project, linked to the Abydos Solar Power Plant under the program's energy pillar. Expanding 'HAFIZ' Hub Rania El-Mashat, Minister of Planning, Economic Development and International Cooperation, signed a cooperation agreement to expand the 'HAFIZ' platform. The agreement was signed with the Federation of Egyptian Industries (FEI) and other business associations to support private sector growth and enhance enterprise access to advisory and financing services. El-Mashat also inked a bilateral cooperation protocol with the Federation of Egyptian Banks to strengthen dialogue between banks and international development partners, with a focus on supporting SMEs and boosting private sector empowerment. Sustainable Green Industry (SGI) Project The Ministry of Planning, in cooperation with the EIB and the National Bank of Egypt (NBE), signed a EUR 21 million investment grant agreement to support the Green Sustainable Industry (GSI) project. On the other hand, Egypt launched an investment program to finance projects focused on pollution reduction, decarbonization, and improving energy and resource efficiency in the public and private industrial sectors. All Rights Reserved - Mubasher Info © 2005 - 2022 Provided by SyndiGate Media Inc. (
Yahoo
2 days ago
- Business
- Yahoo
China's $41.8B Consumer Stimulus Is Running Out--What Happens When the Money Stops?
Retail spending in China just got a shot of adrenaline. Thanks to Beijing's trade-in subsidy program, consumers rushed to replace old electronics and home appliances, driving May's retail sales growth to the highest level in more than a year. Some categories clocked in with over 50% year-over-year growth. The stimulus is being fueled by a 300 billion yuan ($41.8 billion) special sovereign bond packagetwice last year's levelaimed at boosting confidence and countering the drag from U.S. tariffs. But local governments are already feeling the strain. Provinces like Henan and Chongqing have run through their allocated budgets, forcing a pause on new applications. Others, including Jiangsu and Guangdong, are throttling access through daily caps. That's raised concerns not just about execution, but sustainability. Just over half of the funds have been distributed or are being processed, but nearly two months after the second tranche was announced, disbursement delays persist. Beijing's fiscal leeway is shrinking as tax revenues fall and debt service costs rise. This year's budget deficit has been pushed to the highest level in over three decades, while bond issuance is up 80% from 2024. Economists warn that while the current consumption boost looks impressive, it may be hard to repeat unless China addresses deeper issueslike household income stagnation and private sector confidence. Some local retailers have even been flagged for possible price inflation to exploit the subsidy scheme, adding more complexity to an already fragile rollout. Still, Beijing isn't giving up on demand-side tools just yet. Beyond consumer subsidies, officials are turning to business-facing policieslike urging electric vehicle makers such as Tesla (NASDAQ:TSLA) to speed up supplier payments, and clearing overdue bills to private firms. These moves won't generate headlines overnight, but they could lay the groundwork for more stable growth in the medium term. In the meantime, analysts expect additional subsidy funding to be pushed through to avoid a sentiment dip. But the bigger question remains: how long can China keep the consumer engine running without reworking the whole system? This article first appeared on GuruFocus. Error in retrieving data Sign in to access your portfolio Error in retrieving data Error in retrieving data Error in retrieving data Error in retrieving data
