In just a few hours, MSCI Inc. can possibly announce the inclusion of Saudi Arabia into their index. The move is definitely beneficial to the Kingdom’s stock market Tadawul in the short term. Dan Salter, Head of Equity Strategy and Research – Eurasia at Renaissance Capital, estimates that the decision to include Saudi on the…
In an age of an unprecedented number of information sources, reader and viewer trust in the news can often be misplaced. In fact, due to the large disparity in traditional and online news sources (and dwindling trust of them), the term "fake news" has emerged as being expository of the state of some informational sources. So, what does…
Private equity firm Abraaj said that it has secured an approval from the court for a provisional liquidation and restructuring of its business. This will help the buyout firm negotiate a sale for its fund management business in an orderly fashion while protecting its shareholders’ interest. The court, on June 20, appointed Simon Conway of…
The animated feature sequel Incredibles 2 raked in a $180 million during its US opening while it earned around $231 million, making the film the biggest animated debut in US box office history. The film also became the highest-grossing PG debut and the number 2 debut in June behind Jurassic World which debuted at $208 million in…
Dubai’s financial free zone Dubai International Financial Centre has inked a deal with Startupbootcamp in an effort to transform itself into a regional hub for fintech. DIFC's agreement with Startupbootcamp will help it develop its fintech capabilities and the venture capital ecosystem in the emirate while also providing a much-needed boost for entrepreneurship. Startupbootcamp is…
In the recently released Ocean’s 8, the female-led spinoff of the Steven Soderbergh trilogy, a crew of eight women team up to rob the Met Gala. Unlike Paul Feig’s Ghostbusters reboot, which opened in 2016 to internet vitriol and mediocre box office results, the heist movie has been warmly received and has grossed $115.4 million worldwide so far.…
The UAE ranked 17th in digital competitiveness and is the top ranking Arab country within this sphere, according to a study released by the IMD World Digital Competitiveness Ranking 2018. The country’s improved ranking in digital competitiveness comes as a result of its continued developments and growing adoption of digital strategies in various projects and…
Integrity is often discussed but not often defined. But it is also something organizations often say they are actively seeking to promote. It is almost ubiquitous in codes of conduct and lists of principles employed by professional bodies to encourage ethical thinking and behavior among their members. Crises and scandals in business and professional life…
After sitting out the opening 1-0 defeat to Uruguay, the Liverpool winger Mohamed Salah is all-set to play his first world cup match as national team Egypt faces host Russia on Tuesday, June 19 in St. Petersburg. The shoulder injury that edged Salah—also fondly referred to as Mo Salah—out of the Champions League final against…
Personal wealth across the globe more than doubled in 2017 as it rose by 12% to reach $201.9 trillion, recording the strongest rate of growth in the last five years. According to a new report from consultancy Boston Consulting Group, the growth in wealth was fueled by a bull market in most economies along with…
Telecom giant ZTE may have temporarily escaped a “death sentence,” after the U.S. tentatively lifted a ban that would have blocked the Chinese company’s access to American technology, but its outlook is anything but certain as it reels from mounting losses, management tumult and renewed political uncertainties. The Shenzhen-based company had about $6 billion wiped…
Google will invest $550 million in JD.com, one of China’s largest e-commence companies, as part of a strategic partnership to jointly develop markets outside of the country, the two said in a statement today. “Google and JD plan to collaborate on a range of strategic initiatives, including joint development of retail solutions in a range of regions…
Two years ago, while flying to India from Dubai, Pallav Jha happened to have a chance meeting in the airport with Yunus, a construction worker. Returning home after a gap, Yunus was en route to attend his infant son’s funeral. “I never saw him, I am visiting my family after 20 months.” Like hundreds of…
The World Cup kicks off on Thursday with a single match between host nation Russia and Saudi Arabia. There will be an additional 47 games over the next two weeks during the group stage, as the draw gets cut from 32 teams to 16. The World Cup Final is scheduled for July 15. The World…
Famed hedge fund trader and bitcoin evangelist Mike Novogratz announced today that his Galaxy Digital Ventures is investing $15 million in blockchain startup AlphaPoint, a New York-based company that aims to simplify the way assets are issued on a blockchain by essentially offering customers the technology used to create crypto exchanges. In this way Novogratz,…
Cryptocurrencies such as Bitcoins and other alternative digital assets are getting increasingly popular in the banking sector. There are hundreds of types of cryptocurrencies in use, often referred to as altcoins (an abbreviation of “bitcoin alternative.”) We are witnessing greater demand for an easy platform to buy and sell cryptocurrencies in a safe environment. As…
Mobile telecom gear maker Ericsson now predicts there will be 3.5 billion Internet of Things (IoT) connections by 2023, a figure that is nearly double what it forecast in November 2017. The increase is driven by ongoing large-scale deployments of IoT cellular technologies in China, according to the latest edition of the Ericsson Mobility Report.…
Mobile has taken over our lives over the past few years, changing the way we communicate, get informed, consume media or shop. In the Middle East and Africa (MEA) region, smartphone usage is on an upward trend, growing 19% in the first three months of 2018 compared to the same period in the previous year,…
Abraaj Group has sold off its entire stake in Egypt’s Orascom Construction for about $52 million, a move that comes as the Dubai-based private equity firm faces mounting challenges. Prior to the sell off, Abraaj held 6,256,155 ordinary shares, or 5.4%, of the issued share capital of the Egyptian construction giant, with ordinary shares priced…
It was the stat heard around the startup ecosystem: only 11 black women had ever raised more than $1 million in venture capital as of 2016. And that year, only 0.2% of all VC funding went to startups founded by black women. Those were the rather depressing key findings of ProjectDiane, a pioneering study initiated by investor Kathryn…