UAE makes eyes at foreign investors; scraps local shareholder rule
The United Arab Emirates has scrapped a rule that required companies operating in the country to have Emirate shareholders, according to an article published by Bloomberg citing reports in local press.
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Is Sabic set to list specialty chems business?
Saudi Basic Industries Corp (Sabic) is mulling a possible IPO of its specialty chemicals unit, according to a report published by Bloomberg.
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South Africa’s Tiger Brands embarks on cost-saving mission as profits fall; culls 400 jobs
South Africa’s Tiger Brands has is looking to cost cut to the tune of 500 million rand ($32 million) in 2021 following a fall in annual profits, with 400 jobs cut as part of the saving measures.
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Muslim spending fell 8 percent during 2020 but will bounce back by 2021
Muslims spent some US$2.02 trillion across the food, pharmaceutical, cosmetics, fashion, travel and media/recreation sectors in 2019, according to the eight edition of the State of the Global Islamic Economy Report, a rise of 3.2 percent on 2018’s total.
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Erdogan calls for Muslims to boycott French goods over Paty Row
Turkish president Tayyip Erdogan is urging his fellow Muslims to boycott French-made goods following the row over controversial images of the Prophet Muhammad, according to a report published by Reuters.
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Sasol partners with LyondellBasell to reduce net debt
South African chemicals firm Sasol has formed a 50/50 joint venture with LyondellBasell through which LyondellBasell will acquire 50 percent of Sasol’s US Base Chemicals Business for US$2 billion.
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Huda Beauty Founder steps down as CEO; names successor
Huda Beauty has named Nathalie Kristo Chief Executive Officer, according to a report published by Emirates Woman.
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Abu Dhabi Duty Free launches home delivery
Abu Dhabi Duty Free has launched an online store allowing UAE residents to opt for home delivery, according to a report published by The National.
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Unilever South Africa puts its money where its mouth is: withdraws TRESemme from sale over racist ad
Unilever South Africa is said to be pulling all TRESemme products from retailers across South Africa for a 10-day period in recompense for a marketing campaign that promoted racist stereotype, according to a report published by Reuters.
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Lush partners with Black Owned UAE to help Black-owned SMES throughout the Middle East
Lush has announced that it has partnered with Black Owned UAE in order to address inequality and support those small businesses affected by the pandemic.
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