Issue Number:191, October 2014

Challenging times

As banks in Oman are becoming increasingly aggressive in lending to small and medium enterprises (SME), finance companies are facing the heat as competition gets stiffer. BusinessToday talks  to V V Suresh Kumar, general manager - marketing and business development at Taageer Finance

Match speech with action

In his hard-hitting but uplifting speech from the ramparts of the Red Fort, Prime Minister Narendra Modi challenged his countrymen to modernise India and invited foreign investors to “come, make (everything) in India”.

To succeed, start small

Q: I’m from Pakistan, where venture capital funding is not yet readily available. How can entrepreneurs here ensure cash flow in a start-up’s early days and pay salaries to employees? What are the top three building blocks needed for entrepreneurs to transform a start-up into a sustainable organisation?

– Ibraheem Ahmad 

Shifting into top gear

While there are no authenticated figures available in the public domain about the total number of cars being sold in Oman, as per industry insiders approximately 60,000 new cars are registered every year of which a small portion accounts for vehicles imported from neighbouring GCC countries. And used car sales per year is estimated at double the new car sales figure, at 120,000 units.

Banking records a strong performance

Evaluating the Muscat Securities Market (MSM) price returns across the 22 sectors (categorised by MSM) reveals that primarily banking, electrical and energy sectors advanced the furthest during the current year. As the energy sector yielded double digits returns of 12.92 per cent year to date. 

FOSTERING FUTURE BUSINESSES

A massive 90 per cent of firms registered in Oman fall under the small and medium enterprises (SME) segment according to various reports, but they contribute only 15 per cent to the GDP of the country.

AUTO NEWS

Ferrari California T and Rolls Royce Ghost series II launched in Oman

‘Hirers Need To Pick Future Leaders’

From addressing imbalances in compensation through regulation to concerns of recruiters, Damien O’Brien, global chairman of executive search and talent management firm Egon Zehnder, and Rajeev Vasudeva, its newly appointed chief executive officer (CEO), talk about what they look for in a future leader, in a chat with  BW | Businessworld. Edited excerpts: