finance & economy

March 12, 2020

Lebanon has a long history of economic and political instability. In the past, local insurers have been successful at navigating this challenging environment. However, recent civil unrest and a ballooning public debt have increased the level of economic uncertainty, which is negatively impacting the credit quality of Lebanon’s insurance market.

In a new Best’s Special Report, “Lebanese Insurance Market Faces Mounting Uncertainty”, AM Best notes that in contrast with the wider Middle East and North Africa region, the Lebanese insurance market overall has an asset allocation that favours high levels of cash and fixed income"...

Continue Reading >

March 12, 2020

The LEGO Group announced a partnership with Nintendo that will change the way people interact with Super Mario in the physical world and engage in LEGO® experiences.

Both companies share a passion for innovation and play and their collaboration has led to a reimagination of the LEGO building experience, enabling an entirely new way to play inspired by the beloved video game icon, Super Mario.

Neither a video game nor a traditional LEGO brick-based set, LEGO® Super Mario™ is a new product line that features an interactive LEGO Mario figure who collects"...

Continue Reading >

March 12, 2020

The U.S. Food and Drug Administration (FDA) has granted Fast Track designation for the investigation of empagliflozin to reduce the risk of kidney disease progression and cardiovascular death in adults with chronic kidney disease, Boehringer Ingelheim and Eli Lilly and Company (NYSE: LLY) announced. The designation was granted for the clinical investigation of empagliflozin in adults with chronic kidney disease. This Fast Track designation for empagliflozin underscores the urgent need for new treatment options for people living with chronic kidney disease worldwide, many of whom are at risk of progressing to end-stage kidney disease.1

This press"...

Continue Reading >

March 12, 2020

ABU DHABI, 11th March, 2020 (WAM) -- The Board of the Arab Trade Financing Programme approved 81 funding requests for trade projects worth US$210 million, during its 121st meeting held today at its headquarters in Abu Dhabi.

The meeting was chaired by Dr. Abdulrahman bin Abdullah Al Humaidi, Chairman and CEO of the Programme.

During the meeting, the board reviewed a comprehensive report on the programme’s financing activity in the last quarter of 2019, which noted that total funding provided by the programme to its member national agencies in all Arab countries"...

Continue Reading >

March 12, 2020

ABU DHABI, 11th March, 2020 (WAM) -- The Abu Dhabi Chamber of Commerce and Industry discussed ways of reinforcing its commercial and investment ties with India.

The discussion took place during a meeting at the chamber’s headquarters between Mohammed Hilal Al Muhairi, Director-General of the Chamber, and Pavan Kapoor, Ambassador of India to the UAE, and his delegation.

During the meeting, Al Muhairi highlighted the chamber’s keenness to reinforce its overall economic and investment cooperation with India, noting the developing bilateral ties between the"...

Continue Reading >

March 12, 2020

DUBAI, 11th March 2020 (WAM) -- DP World announced its robust financial results for the year ended 31st December, 2019, stating that its revenue grew 36.1 percent and adjusted EBITDA increased 17.7 percent, with an adjusted EBITDA margin of 43 percent.

The delivered profit attributable to the owners of the company, before separately disclosed items, was US$1,328 million, up 4.6 percent and EPS of 160.0 US cents.

DP World Group Chairman and CEO, Sultan Ahmed Bin Sulayem, said, 'DP World is pleased to report a like-for-like earnings growth of 5.4 percent in 2019"...

Continue Reading >

March 12, 2020

Digital advertising leader Exponential Interactive announced this week that it is rolling out its new, video-driven business division, VDX.tv, in all global markets. VDX.tv allows brands to serve tailormade video-driven experiences across screens, including connected TV (CTV) and Over the Top (OTT). This announcement is on the heels of a successful launch in the U.S. in October 2019. Exponential has a decade long history of creating results-driven advertising solutions for brands globally. VDX, or video-driven experiences, has a proven track record for international advertisers. The VDX.tv product suite incorporates existing solutions, as well as new technologies developed for Advanced TV. By 2021, 82% of all consumer internet traffic will be video, according to Cisco. Brands must adapt their advertising strategies accordingly. VDX.tv makes it simple for brands to create personalised video-driven experiences across channels and screens, from mobile devices and laptops to CTV/OTT. VDX.tv’s Managing Director of MENA, Amer Attyeh, explains the expansion of TV into the digital space and the rapid growth of OTT offers advertisers an exciting new way to reach audiences. “For years,......

Continue Reading >

March 12, 2020

The LIVEKINDLY co. is leading a movement to build a sustainable future, today, fueled by a $200-million founders’ funding round led by founders, entrepreneurs, and global leaders. Establishing a collective of heritage and start-up brands, the company is on track to become one of the world’s largest plant-based food companies.

Brands under the LIVEKINDLY co. portfolio offer consumers non-GMO, plant-based chicken alternatives and include: The Fry Family Food Co. and LikeMeat, as well as the fastest-growing plant-based digital media platform, LIVEKINDLY Media–from which the new company's name derives and means embracing a"...

Continue Reading >

March 12, 2020

SNOWPLUS has announced global investment results from 2019 through February 2020 amounting to approximately $125 million USD. The funding has come from investors in Asia, North America, Europe and the Middle East.

The company has confirmed funding from Hong Kong-based HK Rothsfortune Investment Management Limited among other investors as it further prepares for entry into global markets.

“We have invested in SNOWPLUS because of their strong global strategy which sets them up for success in both domestic and international markets,” said Charles Zhu, Managing"...

Continue Reading >

March 12, 2020

GetSwift Limited (ASX: GSW) (‘GetSwift’ or the ‘Company’), a leading provider of SaaS logistics technology, is pleased to announce that it has entered into a put option agreement (“Agreement“) with LDA Capital LLC (“LDA Capital“), a United States based private alternative investment group, which has agreed to provide the Company with up to US$45 million (“Commitment Amount”) in committed equity capital over the next 36 months."...

Continue Reading >