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☆ While TikTok's future is unknown, micro-business owners continue to rely on it — including one founder who shared 3 tips for marketing and going viral
▼ + stars: | 2024-03-21 | by ( Bella Sayegh | Leila Jordan | ) www.businessinsider.com time to read: +9 min

When Lauren Nelda Pascal sewed her first silk bonnet, she wasn't thinking about building a viral TikTok business. Now Pascal's TikTok business account has over 107,000 followers and 2.6 million likes, and Lizzo and other celebrities have featured her products on their pages. But she said the discussion forced business owners to consider how they might pivot their social-media strategy if needed. Unlike on TikTok, businesses using Instagram Reels, Instagram's short-form-video feature, should be more cautious with trending audio. I have a product that I believe in, and so I try to let that bleed through my content," Pascal said.

Persons: Lauren Nelda Pascal, Lolo's, Pascal, —, TikTok, I'm, KXAN Austin, Giselle Ugarte, Ugarte, KXAN, Karen North, It's, wasn't, doesn't Organizations: Service, Facebook, Business, Oxford Economics, USC Annenberg Locations: Jacksonville , Florida, TikTok

☆ Vineyards Use AI, IoT Tools to Make Wine Effectively, Sustainably
▼ + stars: | 2024-03-07 | by ( Bella Sayegh | ) www.businessinsider.com time to read: +10 min

The company's president and winemaker, Chris Kajani, wanted to stay connected with customers and distributors amid shutdowns and social-distancing practices. AdvertisementIn March 2020, Kajani started reworking her operations, hosting virtual tastings, keeping in contact with members of the vineyard's wine club, and meeting with distribution partners using a Cisco videoconferencing platform. Chris Kajani, the winemaker and president of Bouchaine Vineyards, is using technology to improve harvesting. Jyotsna Bhamidipati for BIRemy, a former wine technical consultant, said that buying wine without knowing what's good can be overwhelming. AI-powered tools are making headway in the commercial wine market by helping vineyards find optimal wine blends.

Persons: Chris Kajani, Kajani, Vintners, McClenehan, Alexandre Remy, Remy, Jyotsna, Vaughn Walton, Walton, Piper, Pied Piper, Katerina Axelsson, Axelsson Organizations: Cisco, Bouchaine, Atlas Wine, Oregon Wine Research, Oregon, University's Oregon Wine Research Institute, OSU, BI Remy Locations: Napa , California, Bouchaine, Somerset , California, Oregon, California, America, Walton

☆ 4 tips financial planners are always giving solopreneurs and small-business owners
▼ + stars: | 2024-03-06 | by ( Bella Sayegh | ) www.businessinsider.com time to read: +7 min

Solo business owners face unique challenges in managing business finances. Starting simple and delegating tasks are important skills to help owners stay organized. Build in necessary expensesSolopreneurs often operate all aspects of their business — building a product, dealing with customers, and keeping track of finances. Business owners should also be mindful of how they go about outsourcing these services , Camp added. Camp said these resources could help solo business owners build their teams and stay organized without losing money.

Persons: —, Rachael Camp, you’re, it's, ” Camp, Kathryn Knighton, Knighton, ”, Camp, “, ” Knighton, don’t Organizations: Service, Wealth, Camp, Business, Small Business Administration Locations: ” Knighton

Lives Ended in Gaza Since the war started, more than 30,000 people have been killed during Israel’s bombardment and invasion. Hamas ruled Gaza and ran a covert military organization, the identity of its fighters unclear, even to other Gazans. She worked with people who had been wounded and displaced by Israeli attacks on Gaza as well as with first responders. She moved to Egypt after the 2014 Gaza war but returned a few months before the current war. He performed complicated operations on Gaza’s war wounded while running Abu Yousef Al-Najjar Hospital in Rafah until his retirement.

Persons: Israel, Marah, Farah, Farah Alkhatib, Kinder, Selena al, Lubna Elian, Yousef Abu Moussa, Abdulhadi, Maram, Youmna Shaqalih, Abdulrahman Abuamara, Ghadeer Mohammed Mansour, Salah, Khaled Jadallah, Doaa Jadallah, Mahmoud Alnaouq, Jannat Iyad Abu Zbeada, Rami Abu Reyaleh, Alhelou, “, ”, —, Faida AlKrunz, Saud AlKrunz, tinker, Ahmed Abu Shaeera, Al Aqsa, Youssef Salama, Hedaya Hamad, Salah Abo Harbed, Jeries Sayegh, Inas, “ Sara ”, ” Sayel, Ai Wei Wei’s, Heba Zagout, Ali, Amneh, Belal Abu Samaan, Israel ”, Abu Yousef Al, Abdallah Shehada, Tarazi, Heba Jourany, Osama Al, Haddad, Riyad Alkhatib, ” Mahmoud Elian Organizations: UNICEF, Oxygen, Al, Awda, F.C, Barcelona, Facebook, Islamic, Palestinian Authority, Palestine Red Crescent Society, Free Gaza Circus, Christian, Officially, American International School, Palestine Athletics Federation, Najjar, United Nations, West Bank Locations: Gaza, Israel, Spain, Norway, Italian, Australia, Egypt, Turkey, Bolivia, Argentina, Panama, Mexico, Qatar, Al Aqsa, Jerusalem, “ Palestine, Palestine, Saudi Arabia, Palestinian, Old City, Mazaj, Gaza City, Manhattan, Chicago, Mecca, Rafah, Libya, Uganda, Ireland

☆ An ex-finance trader launched a mobile coffee business and grew its sales by over 550% — she shares the 3 strategies that made her truck a household name in Phoenix
▼ + stars: | 2024-02-05 | by ( Bella Sayegh | ) www.businessinsider.com time to read: +8 min

Devon McConville is a former day trader who owns First Place Coffee, a Phoenix-based coffee truck. Now, McConville runs a beloved fixture of the Phoenix drink scene: First Place Coffee, a coffee vendor on wheels. First Place Coffee serves specialty coffee and espresso drinks from a 1970 Chevy P10 truck that regulars know as "Matilda." "I really had this vision to really create a community around a mobile coffee business," McConville said. "It seems really small, to own and operate a mobile coffee business, but I think it really has a large effect that radiates out from it," McConville said.

Persons: Devon McConville, McConville, —, Matilda, Alexandra Cocca McConville, Terrence Murtagh, Murtagh, Elizabeth Chung, Chung, Instagram, Bella Sayegh, Austin Hogland, they've, Kaytee Hogland, We're, she's Organizations: Service, Coffee, BI Locations: Devon, Phoenix, Austin

☆ 5G-powered wearable tech could be the key to inclusive experiences for deaf and hard-of-hearing audiences at live performances
▼ + stars: | 2024-01-30 | by ( Bella Sayegh | ) www.businessinsider.com time to read: +8 min

Wearable technology has been used in multiple industries, such as healthcare and fitness. Fewer lags and faster download speeds make the real-time experience required for wearable technology possible. The primary purpose of the wearables, she said, is to help those who are deaf or hard of hearing experience music inclusively. The Vibrotextile wearable technology is a haptic vest with wrist and ankle bands. "People want to be connected, and I think that's the most important aspect of technology," Rosella said.

Persons: —, Jill Stark, Stark, Jeffrey Stark, Jill Stark Stark, Francesca Rosella, Rosella, CuteCircuit, Stark —, SoundShirts, Cooper Hewitt, Don Emmert, Rachel Arfa, Daniel Belquer, Belquer Organizations: Service, Lyric Opera of Chicago, Fortune Business, Lyric Opera, Smithsonian Design, Getty, Chicago Lyric Opera, Chicago Mayor's, People, Labs, 5G Locations: London, New York City, AFP

Wreaths of smoke hung over the UN shelter, after a huge blaze broke out at the UNRWA Khan Younis Training Center, video obtained by CNN showed. The Hamas-run health ministry in Gaza said Israeli forces have surrounded the Nasser Medical Complex, cutting off crucial medical, food, and fuel supplies. The Palestine Red Crescent Society (PRCS) said Israeli forces are “surrounding” their headquarters and the Al-Amal Hospital and have enforced “restrictions on movement around both the building and the hospital”. Six people were killed in attacks on Khan Younis on Wednesday, PRCS added, three of which had been “targeted” at the entrance of their headquarters. “We were expecting to die at any minute.”Jamal al Rozzi, an aid worker displaced near Khan Younis, said he was forced to flee to Rafah on Wednesday after heavy bombardment in the area.

Persons: Khan Younis, ramped, ” Thomas White, White, ”, António Guterres, Fatima Shbair, Amal, Nasser, Ashraf Al, Qudra, Al, PRCS, WAFA, ” “, Hisham Sayegh, ” Sayegh, “, ” Jamal al Rozzi, ” Al Rozzi Organizations: CNN, UN, Training Center, UNRWA Affairs, World Health Organization, Israel Defense Forces, IDF, of Health, AP Hospitals, Hamas, Nasser, Palestine Red Crescent Society, Amal, Aqsa University, Rights Monitor, Med HR, National Society for Rehabilitation Locations: Gaza, Israel, Rafah, Khan, “, Palestine, Al, Geneva, Egypt

☆ 10 industry leaders transforming business in 2023
▼ + stars: | 2023-12-11 | by ( ) www.businessinsider.com time to read: +20 min

In 2023, Business Insider's annual list of People Transforming Business highlights key players across the advertising, ESG, finance, AI, and labor sectors. Increasingly, they're turning to more opaque private credit markets to borrow money. The world of private credit sits outside the traditional banking system. Analysts expect the private credit market to balloon in size — likely keeping lawyers like Breen very busy. Muthukrishnan is trying to make sense of how risky these private credit loans are by overseeing what is so far the most comprehensive look at vulnerabilities in the industry.

Persons: Mira Murati, who's, Vince Toye, Eileen Fisher, Eileen Fisher Fisher, Guerin Blask, Eileen Fisher Eileen Fisher, she's, Fisher, Janelle Jones, Jones, Lexey, —, She's, Justin Breen, Proskauer Breen, Proskauer Justin Breen, he's, Breen, Ares Capital, He's, McLaren, Julie Su, Labor Julie Su, Department of Labor Julie Su, Su, Marty Walsh, Murati, Jim Wilson, Neal Mohan, YouTube Mohan, Katie Thompson, YouTube It's, YouTube isn't, Mohan, Muthukrishnan, Satya Nadella, Microsoft Satya Nadella, Ben Kriemann, Nadella, Steve Ballmer, Mathias Döpfner, Axel Springer, Tim Cook, Apple Cook, Justin Sullivan, Cook, Steve Jobs, Jobs, JPMorgan Chase Toye, JPMorgan Chase, Toye, they'll, Vince Toye's, Bella Sayegh, Rebecca Ungarino, Lara O'Reilly, Juliana Kaplan, Alex Nicoll, Tim Paradis, Stephanie Hallett, Michelle Abrego, Josée Rose, Ryan Joe, Emily Canal, Kaja Whitehouse, Alyssa Powell, Davis, Jonann Brady Organizations: JPMorgan, Service Employees International, SEIU, New York, Ford, Service Employees International Union, United Auto Workers Union, Spelman College, US Department of Labor, Economic Policy Institute, Center for Economic, Research, Department of Labor, The New York Times, Ares, Churchill Asset Management, European, Atlético Madrid, Labor, Labor Department, MacArthur Foundation, New York Times, Dartmouth, OpenAI, Associated Press, YouTube, NFL, DirecTV, Federal, Microsoft, Manipal Institute of Technology, University of Wisconsin -, University of Chicago, Apple, Apple Watch, Google, Time, JPMorgan Chase, National Housing Trust, Trenton Almgren Locations: McDonald's, Lorain , Ohio, Atlanta, California, Los Angeles, Albania, Canada, Muthukrishnan, Hyderabad, India, University of Wisconsin - Milwaukee, OpenAI, Virginia, Wells Fargo, Trenton

On Monday, Prince Abdulaziz bin Salman, energy minister and the key climate negotiator, for the kingdom, was a no-show at the Saudi Green Initiative. "The climate finance that they have pledged at this COP28 is simply not enough," said Pakistani activist Zaigham Abbas, whose country was devastated last year by widespread flooding. Elsewhere, France and Japan said they would support a move by the African Development Bank to leverage IMF Special Drawing Rights for climate and development. This year also features the biggest-ever representation of business at the annual U.N. summit, amid hopes for more private investment toward climate causes. "The scale of the climate crisis demands urgent and game-changing solutions from every industry," COP28 President Ahmed Al-Jaber said.

Persons: COP28, Johanna Geron, Prince Abdulaziz bin Salman, Crown Prince Mohammad bin Salman, Nicholas Stern, Mia Mottley, Antonio Guterres, Zaigham Abbas, Abu Dhabi, Ahmed Al, Jaber, Simon Jessop, Maha El, Al Sayegh, Alexander Cornwell, Elizabeth Piper, David Stanway, Katy Daigle Organizations: of, European Union, REUTERS, Companies, Saudi, United, United Arab Emirates, Saudi Green Initiative, Crown, Grantham Research, Asian Peoples ' Movement, Development, African Development Bank, European Bank for Reconstruction, Copenhagen Infrastructure Partners, BlackRock, HSBC, Finance, Reuters, Thomson Locations: Dubai, Brussels, Belgium, Companies UAE, DUBAI, COP28, United Arab, Saudi Arabia, Sharm el, Sheikh, Egypt, Paris, China, Grantham, Barbados, France, Japan, Copenhagen, Abu

President of the United Arab Emirates Sheikh Mohamed bin Zayed Al Nahyan attends the United Nations Climate Change Conference (COP28) in Dubai, United Arab Emirates, December 1, 2023. REUTERS/Amr Alfiky Acquire Licensing RightsDUBAI, Dec 1 (Reuters) - United Arab Emirates President Sheikh Mohammed Bin Zayed Al Nahyan, whose country is hosting the COP28 climate summit, announced on Friday the establishment of a $30 billion climate fund that aims to attract $250 billion of investment by the end of the decade. Dubbed ALTÉRRA, the fund will allocate $25 billion towards climate strategies and $5 billion specifically to incentivise investment flows into the Global South, according to a statement by the COP28 Presidency. ALTÉRRA has also committed to invest $2 billion into its second Brookfield Global Transition Fund. ALTÉRRA was established by Lunate, a newly set up Abu Dhabi-based alternative investment manager with over $50 billion in assets.

Persons: United Arab Emirates Sheikh Mohamed bin Zayed Al Nahyan, Amr Alfiky, Sheikh Mohammed Bin Zayed Al Nahyan, ALTÉRRA, BlackRock, Abu, Sheikh Tahnoon bin Zayed Al Nahyan, William James, Nadine Awadalla, Al Sayegh, Tommy Reggiori Wilkes, Susan Fenton, Sharon Singleton, Miral Organizations: United, United Nations, Change, United Arab Emirates, REUTERS, Rights, BlackRock, TPG, Brookfield Asset Management, Transition, Lunate, Chimera Investment, Reuters, Thomson Locations: United Arab Emirates, Dubai, United Arab, COP28, Brookfield, Abu Dhabi, UAE

The sources said the UAE would provide the bulk of the money and private equity firm TPG and infrastructure investor Brookfield would also be involved. Two sources said the money would be overseen by UAE-backed investor Lunate Capital. A view of Dubai's Expo City during the United Nations Climate Change Conference (COP28) Climate Summit in Dubai, United Arab Emirates, November 30, 2023. REUTERS/Amr Alfiky Acquire Licensing RightsA second source said BlackRock, TPG and Brookfield would allocate money currently housed in other funds to the UAE fund and that talks over the fund began after the summer and carried on through October. Additional reporting by Andres Gonzales, Anousha Sakoui and Elisa Martinuzzi in London Editing by Susan FentonOur Standards: The Thomson Reuters Trust Principles.

Persons: Lunate, Amr Alfiky, Andres Gonzales, Anousha Sakoui, Elisa Martinuzzi, Susan Fenton Organizations: Lunate, BlackRock, TPG, Brookfield, United, Reuters, Lunate Capital, Financial Times, Dubai's, United Nations, Change, United Arab Emirates, REUTERS, UAE, COP28, Thomson Locations: UAE, DUBAI, United Arab Emirates, Dubai, United Arab, BlackRock, Brookfield, London

☆ Beauty brands are combining AI and 3D-printing tech to make personalized skincare products that target your specific needs
▼ + stars: | 2023-11-15 | by ( Bella Sayegh | ) www.businessinsider.com time to read: +9 min

Personalized skincare represents one of the fastest growing segments of the beauty and wellness industry. "Personalized products for skincare are more beneficial," said Melissa Snover, the founder and CEO of Nourished , a nutrition company. Rem3dy Health GroupNourished partnered with Neutrogena earlier this year to create personalized skincare supplements, called Skinstacks. NeutrogenaMore companies are leaning into custom skincareCompanies that sell more generalized skincare products are hopping on the personalization trend. Cetaphil, a brand popular for its sensitive skincare line, launched its skincare digital-assistant tool and AI skin analysis in March.

Persons: —, doesn't, Melissa Snover, Snover, Logan McGill, Johnson, McGill, Silvina Nordenstohl, Nordenstahl, Galderma, dermatologists, Scott Walker, TikTok, Aaron Lucy, Walker Organizations: Service, Grand View Research, Rem3dy, Johnson, Companies, Tech Locations: McGill, Denver, skincare

☆ PetroChina to replace Exxon as lead contractor for Iraq's West Qurna 1 oilfield, oil executive says
▼ + stars: | 2023-11-11 | by ( Aref Mohammed | ) www.reuters.com time to read: +2 min

"We studied the settlement agreement and the oil ministry with the Basra Oil Company believe that the best option is for Petrochina to become the lead contractor of West Qurna 1," Hassan Mohammed, deputy Basra Oil Co. manager in charge of oilfields and licensing rounds affairs, told Reuters. Exxon and PetroChina were not immediately available for comment, but two oil managers at the West Qurna 1 field confirmed the details of the settlement and sale agreement signed with Exxon. Basra Oil Company director Khalid Hamza told Reuters in an interview in 2021 that Exxon was seeking to sell the share for $350 million. West Qurna 1, in southern Iraq, is one of the world’s largest oilfields with recoverable reserves estimated at more than 20 billion barrels. Following its exit from West Qurna 1, Exxon will have no presence in Iraq's energy sectory, said BOC officials.

Persons: Hassan Mohammed, PetroChina, Mohammed, Pertamina, Khalid Hamza, Aref Mohammed, Hadeel Al, Ahmed Rasheed, Kirsten Donovan, Giles Elgood Organizations: Exxon Mobil Corp, Basra Oil Company, Basra Oil Co, Reuters, Exxon, Exxon Mobil Corp's, BOC, Exxon Mobil’s, Thomson Locations: BASRA, Iraq, Iraqi, Basra, West, Indonesia’s, Iraq’s, Hadeel Al Sayegh, Dubai

Net profit fell to $32.6 billion for the quarter to Sept. 30, above the $31.8 billion expected by 12 analysts in a company-provided forecast. The Saudi oil producer said lower oil prices and volumes were partially offset by a reduction in production royalties, which are linked to Brent prices. Chevron (CVX.N) and Exxon Mobil (XOM.N) last month reported sharp year-on-year falls in third-quarter profit as energy prices cooled. Saudi Aramco logo and stock graph are seen through a magnifier displayed in this illustration taken September 4, 2022. Back in 2021, Saudi Arabia's de facto ruler, Crown Prince Mohammed bin Salman, said that Saudi Aramco would sell more shares, with the proceeds going to bolster the PIF, the Vision 2030's main funding source.

Persons: Brent, Aramco's, Dado Ruvic, Prince Mohammed bin Salman, Hadeel Al Sayegh, Yousef Saba, Miral Fahmy, Jason Neely, Tomasz Janowski Organizations: DUBAI, Saudi Aramco, Chevron, Exxon Mobil, Reuters Graphics, OPEC, Aramco, REUTERS, Investment Fund, Energy, RBC, Riyadh bourse, Wall Street, Thomson Locations: Saudi, Reuters Graphics Saudi Arabia, Saudi Arabia, Aramco, Riyadh

Saudi Aramco logo and stock graph are seen through a magnifier displayed in this illustration taken September 4, 2022. Net profit fell to $32.6 billion for the quarter to Sept. 30 from $42.4 billion a year earlier. The Saudi oil producer said lower oil prices and volumes were partially offset by a reduction in production royalties. Chevron (CVX.N) and Exxon Mobil <XOM.N> last month posted sharp year-on-year falls in third-quarter profit as energy prices cooled. Aramco's revenue fell to $113.09 billion in the quarter from $144.99 billion a year earlier.

Persons: Dado Ruvic, Hadeel Al Sayegh, Yousef Saba, Miral Fahmy, Jason Neely Organizations: Saudi Aramco, REUTERS, DUBAI, Chevron, Exxon Mobil, OPEC, Aramco, Energy, Thomson Locations: Saudi, Saudi Arabia

☆ Arab States Intensify Pleas for Gaza Cease-fire as Public Anger Mounts
▼ + stars: | 2023-11-07 | by ( Vivian Nereim | More About Vivian Nereim | ) www.nytimes.com time to read: +2 min

That concept has fallen flat in Arab nations, where many view it as a weak proposal that shows the U.S. is either unwilling or unable to hold Israel back. Jordan and Turkey have recalled their ambassadors to Israel in protest over the war, while United Nations officials have implored Israel not to impose “collective punishment” on Gazans for atrocities committed by Hamas. That ambiguous message reflects the challenges Bahrain’s American-allied royal family faces as they balance protecting their ties with the U.S. and Israel with insulating themselves from popular anger. “I have not seen such a large number in a spontaneous demonstration in Bahrain for a long time,” said Ibtisam al-Sayegh, a human-rights activist who attended a protest last month. Some Bahrainis carried signs depicting their king holding hands with Mr. Netanyahu — accusing the monarch of complicity in the murder of Palestinians as long as Bahraini relations with Israel continue, she said.

Persons: Blinken, Israel —, ” Khalid al, Suleiman, —, “, Bahrainis, Biden, ”, Ibtisam, Netanyahu — Organizations: Israel, Saudi, Okaz, United Nations, Bahrain’s, U.S, ” Riot Locations: U.S, Israel, Jordan, Turkey, Gazans, Bahrain, American

Global fundraising for alternative investments, which include private equity, dropped 21% to $972 billion in the year to Nov. 1 from the same period a year earlier, according to research firm Preqin. As their money becomes more vital, Gulf funds are encouraging private equity firms to invest locally in plans for a post-oil future. "Building a partnership based on reciprocity is nowadays necessary to succeed in the Gulf," said Francois Aissa-Touazi, co-global head of investor relations at private equity fund Ardian. Private equity funds are getting the message. In turn private equity funds can use these pools of capital to fund large private debt or equity transactions, according to Tikehau Capital's Deputy CEO, Frédéric Giovansili.

Persons: Amr Alfiky, Francois Aissa, Ardian, Touazi, Brookfield, Bruce Flatt, thronged, Flatt, Mohammed Al Jadaan, Anthony Diamandakis, Rishi Kapoor, Investcorp, Tikehau, Frédéric Organizations: United, United Arab Emirates, REUTERS, Rights, Global, Investment Initiative, Public Investment Fund, Brookfield, Tikehau, CVC, Reuters, Thomson Locations: Abu Dhabi, United Arab, Rights RIYADH, LONDON, Davos, Saudi, Saudi Arabia, Riyadh, Dubai, Brookfield, Bahrain

☆ Japan's farmers are getting too old to work the land. 5G-powered smart tech is doing the heavy lifting for them.
▼ + stars: | 2023-10-30 | by ( Bella Sayegh | ) www.businessinsider.com time to read: +8 min

In remote locations, 5G-powered tech is helping farmers produce crops with the support of experts. Smart farming was introduced into Japanese agriculture in 2020 by NTT AgriTechnology in Chōfu City, Tokyo, for a three-year project. This helps farmers monitor crops for disease and create a harvesting timeline while navigating conditions that can change daily. The next steps for 5G farming involve broadening the scale of these projects so that farmers can monitor more fields at a time, Ahmed and Masakuza said. To do that, companies and local governments will need to continue investing in private, local 5G networks, they added.

Persons: —, Abe Masakuza, Masakuza, Shahid Ahmed, Ahmed, NTT Ahmed Organizations: Private 5G, Service, Agriculture, Forestry, Smart, NTT AgriTechnology, Nippon Telegraph, Telephone, NTT, Hokkaido University, 5G, Farmers, Chōfu, Private Locations: Japan, Chōfu City, Tokyo, Tachikawa , Tokyo, Iwamizawa, Northern Japan

☆ STC reportedly drops plan to up stake in Spain's Telefonica to 9.9%
▼ + stars: | 2023-10-30 | by ( ) www.reuters.com time to read: +1 min

The logo of Spanish Telecom company is displayed atop the company's building in Madrid, Spain, September 6, 2023. Telefonica and STC declined to comment on the report. In September, Saudi Arabia's largest telecoms operator amassed a 9.9% stake worth 2.1 billion euros ($2.23 billion) in a move to become Telefonica's top shareholder, though it added it did not intend to acquire control or a majority stake. STC's holding consists of 4.9% of Telefonica's shares and financial instruments that give it another 5% in so-called economic exposure to the company. As Telefonica is considered a defence service provider, the Spanish defence ministry has a say in acquisitions and holdings between 5% and 10% unless the buyer commits not to request a seat on the board.

Persons: Violeta Santos Moura, David Latona, Belen Carreno, Jesus Aguado, Hadeel Al, Andrei Khalip Organizations: Spanish Telecom, REUTERS, Rights, STC, Telefonica, El Economista, Saudi, Inti Landauro, Thomson Locations: Madrid, Spain, Rights MADRID, Saudi, Spanish, Hadeel Al Sayegh, Riyadh

A Saudi man's reflection is seen in mirror glass at the Future Investment Initiative conference, in Riyadh, Saudi Arabia, October 25, 2022. Geopolitical tensions heightened by the Middle East conflict pose the biggest threat to the world economy, World Bank President Ajay Banga said. The conflict could upset the stability of the Middle East just as regional powerhouse Saudi Arabia pours hundreds of billions of dollars into a vast economic transformation plan. Saudi Arabia is putting U.S.-backed plans to normalise ties with Israel on ice, two sources familiar with Riyadh's thinking said, signalling a rapid rethinking of its foreign policy priorities as war rages between Israel and Hamas. The last year has seen Saudi Arabia spend billions on companies, from sports to gaming to aviation.

Persons: Ahmed Yosri, Ajay Banga, Banga, Laurence Fink, Fink, Goldman Sachs, David Solomon, JPMorgan's, Jamie Dimon, Jane Fraser, Ray Dalio, Dalio, Noel Quinn, Bill Winters, Barack Obama, Yasser al, Salomon, Hess, Stephen Schwarzman, Schwarzman, Prince Mohammed bin Salman, Joe Biden's, Richard Attias, Rosario, Amanda Cooper, Alun John, Michael Georgy, Anousha, John O'Donnell, Susan Fenton Organizations: Future Investment Initiative, REUTERS, Rights, Saudi Arabia's, Hamas, BlackRock, Bridgewater Associates, HSBC, Former U.S, U.S, Saudi Telecom Corp, Telefonica, Investment Fund, Chevron, Blackstone Group, Investment Initiative, Saudi, FII, Reuters, Jorgelina, Thomson Locations: Saudi, Riyadh, Saudi Arabia, Rights RIYADH, Israel, Davos, Swiss, Gaza, Europe, Asia, London

☆ Wall Street leaders appear at Saudi conference amid conflict
▼ + stars: | 2023-10-24 | by ( Hadeel Al Sayegh | ) www.reuters.com time to read: +1 min

A Saudi man's reflection is seen in mirror glass at the Future Investment Initiative conference, in Riyadh, Saudi Arabia, October 25, 2022. REUTERS/ Ahmed Yosri/File Photo Acquire Licensing RightsRIYADH/LONDON, Oct 24 (Reuters) - Wall Street's top financiers showed up in force at an annual financial conference in Saudi Arabia on Tuesday despite broad concerns over travel in the Middle East in the wake of an escalating conflict between Israel and Hamas militants. Goldman Sachs' (GS.N) David Solomon, JPMorgan's (JPM.N) Jamie Dimon and Citi's (C.N) Jane Fraser were among a group of high-profile bankers and asset managers speaking at the Future Investment Initiative (FII) conference at the Ritz Carlton Hotel in Riyadh. The last year has seen Saudi Arabia spend billions on companies, from sports to gaming to aviation. This year, Saudi Telecom Corp took a near 10% stake in Spain's Telefonica.

Persons: Ahmed Yosri, Goldman Sachs, David Solomon, JPMorgan's, Jamie Dimon, Jane Fraser, Hadeel Al Sayegh, Anousha Sakoui, Amanda Cooper Organizations: Future Investment Initiative, REUTERS, Rights, Ritz Carlton Hotel, Saudi Arabia's, Hamas, Saudi Telecom Corp, Spain's Telefonica, Thomson Locations: Saudi, Riyadh, Saudi Arabia, Rights RIYADH, LONDON, Israel, Davos, Swiss, Spain's

☆ Ride-hailing app Yango to set up global office in Dubai
▼ + stars: | 2023-10-18 | by ( ) www.reuters.com time to read: 1 min

DUBAI, Oct 18 (Reuters) - Yango, the ride-hailing app owned by Russian tech group Yandex NV <YNDX.O), is establishing a global operational office in Dubai, the company said in a statement on Wednesday. Yango said the office will be open in the fourth quarter of this year and will be based in Dubai Internet City, part of Dubai business park operator TECOM Group. "The strategic move to establish Yango’s global operational office represents a significant milestone to oversee operations of its myriad services," the company said in a statement. These include Yango ride-hailing and last-mile delivery solution provider Yango Delivery, the company added. Reporting by Hadeel Al SayeghOur Standards: The Thomson Reuters Trust Principles.

Persons: Yango, Hadeel Al Organizations: Russian, TECOM, Thomson Locations: DUBAI, Dubai, City

☆ Free meals for Israeli soldiers divide McDonald's franchises over Israel-Hamas war
▼ + stars: | 2023-10-17 | by ( Pesha Magid | ) www.reuters.com time to read: +2 min

RIYADH, Oct 17 (Reuters) - McDonald's (MCD.N) franchises in some Muslim countries disavowed a move by the company's Israeli restaurants to give free meals to the Israeli military, highlighting the polarized regional politics that global corporations navigate during war. McDonald's Israel said on its social media accounts last week that it has given thousands of free meals to Israel Defense Forces personnel. McDonald's Israel is owned by Alonyal Ltd, according to a company statement. We affirm that it was an individual decision on their part," McDonald's franchise in Saudi Arabia said in a statement. "Neither global McDonald's nor us nor any other country had a role or relationship with that decision, neither directly nor indirectly."

Persons: McDonald's Israel, Hadeel Al Sayegh, Rod Nickel Organizations: Israel Defense Forces, Hamas, Alonyal Ltd, United Arab, McDonald's Corp, U.S ., Thomson Locations: RIYADH, Gaza, McDonald's Israel, U.S, Saudi Arabia, Oman, Kuwait, United Arab Emirates, Jordan, Turkey, Israel

Last February, the State Department said that Hamas raises funds in other Gulf countries and gets donations from Palestinians, other expatriates and its own charities. Blockchain researchers TRM Labs said this week in a research note that crypto fundraising has previously increased following rounds of violence involving Hamas. However, since last weekend's violence, prominent Hamas-linked support groups had moved just a few thousands dollars through crypto, TRM noted. Between Dec. 2021 and April this year, Israel seized almost 190 crypto accounts it said were linked to Hamas. SHIPS AND SHELLSWhether through crypto or other means, Hamas' allies have found ways to get money to Gaza.

Persons: Matthew Levitt, Levitt, Tom Robinson, TRM, Israel, they've, Stephen Reimer, Saeed Azhar, Sinead Cruise, Tom Wilson, Tommy Wilkes, Andrew Mills, John O'Donnell, Frank Jack Daniel Our Organizations: LONDON, Hamas, Barclays, Islamic Resistance Movement, State Department, Reuters, TRM Labs, The U.S . State Department, U.S . Treasury, UN, Qatari, Royal United Services Institute, Parisa, Thomson Locations: DUBAI, Gaza, Israel, U.S, Iran, Qatar, United States, Britain, The, Turkey, Saudi Arabia, Tehran, Islamic Republic, New York, London, Doha, Dubai

☆ Analysis-Hamas' Cash-To-Crypto Global Finance Maze in Israel's Sights
▼ + stars: | 2023-10-13 | by ( Oct. | At P.M. | ) www.usnews.com time to read: +6 min

In the past, Hamas has said financial restrictions placed on its donors were an attempt to neutralise legitimate resistance against Israel. However, since last weekend's violence, prominent Hamas-linked support groups had moved just a few thousands dollars through crypto, TRM noted. Between Dec. 2021 and April this year, Israel seized almost 190 crypto accounts it said were linked to Hamas. SHIPS AND SHELLSWhether through crypto or other means, Hamas' allies have found ways to get money to Gaza. "Qatari aid to the Gaza Strip is fully coordinated with Israel, the UN and the U.S.," the Qatari government official said.

Persons: Al Sayegh, John O'Donnell, Elizabeth Howcroft, Matthew Levitt, Levitt, Tom Robinson, TRM, Israel, they've, Stephen Reimer, Saeed Azhar, Sinead Cruise, Tom Wilson, Tommy Wilkes, Andrew Mills, Frank Jack Daniel Organizations: Elizabeth Howcroft LONDON, Reuters, Hamas, Barclays, Islamic Resistance Movement, State Department, TRM Labs, The U.S . State Department, U.S . Treasury, UN, Qatari, Royal United Services Institute, Parisa Locations: DUBAI, Gaza, Israel, U.S, Iran, Qatar, United States, Britain, The, Turkey, Saudi Arabia, Tehran, Islamic Republic, New York, London, Doha, Dubai

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