Wednesday, December 25

Tag: technology

Bursa Malaysia CEO takes over as chairperson of CEO Action Network
Business, Finance, Innovation/ Technology, News

Bursa Malaysia CEO takes over as chairperson of CEO Action Network

As chairperson of the steering committee, Bursa Malaysia Bhd CEO Datuk Muhamad Umar Swift now leads the CEO Action Network (CAN), Malaysia's first sustainability-focused informal coalition of leading CEOs and senior business decision-makers. Datuk Tengku Muhammad Taufik, a founding member of CAN and the president and group CEO of Petroliam Nasional Bhd (PETRONAS), passed over the leadership baton to Muhammad Umar recently at a CEO luncheon debate held at the Malaysia Petroleum Club. Tengku Muhammad Taufik, who served a two-year term, stated that CAN has emerged as a credible voice of Corporate Malaysia on sustainable business and sustainable development since its formation in late 2020. "As a coalition of leaders with a purpose, our efforts continue to be focused on building capacity ...
70,000 millionaires in UAE
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70,000 millionaires in UAE

According to Unique Properties, Dubai is seeing an increase in the number of luxury branded properties. With over 70,000 millionaires, the UAE is expected to see a 22% increase in high-net-worth families by 2027. Dubai's property market has capitalised on luxury and lifestyle living to become a lucrative destination for high-net-worth individuals. These features, according to Unique Properties, have contributed to Dubai's rise as the world's greatest site for branded properties. “The rise of Dubai’s branded residence segment started with Armani Residences in Burj Khalifa in 2010. Luxury brands and developers have gradually realised the concept’s mutual benefit – but there has been a significant uptick as of late,” said Arash Jalili, Founder and Chief Executive Officer of Unique Propert...
Businesses in England and Wales collapse at fastest pace since 2009 as energy costs bite
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Businesses in England and Wales collapse at fastest pace since 2009 as energy costs bite

Thousands of UK businesses are going out of business at the quickest rate since the height of the global financial crisis, as rising energy costs, dwindling demand, and rising borrowing charges drive them out. According to the Office for National Statistics, there were 5,629 insolvencies in England and Wales in the second quarter, the highest number since 2009. (ONS). The increase is the most since the third quarter of 2009. According to the ONS, insolvencies fell in 2020 as the government provided assistance to businesses throughout the epidemic. However, the frequency of failures has now increased as businesses face new obstacles even after lockdowns have ended. More here: UK building resumes growth, although optimism is at a 26-month low. Businesses indicated a dramatic increase ...
Google and Microsoft hit by slowing economy
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Google and Microsoft hit by slowing economy

Sales at Alphabet and Microsoft have fallen substantially, adding to concerns about an economic slowdown. Alphabet, which controls Google and YouTube, reported a 6% increase in sales to $69 billion in the three months to September as companies slashed their advertising budgets. Outside of the onset of the epidemic, it was the US firm's worst quarterly increase in nearly a decade. Meanwhile, Microsoft reported a drop in demand for its laptops and other equipment. Its revenues increased by 11% to $50.1 billion, the weakest rate in five years. Globally, consumers and businesses are cutting back as prices and interest rates increase, fueling fears of a worldwide recession.Alphabet's profits fell nearly 30% to $13.9 billion in the third quarter, as YouTube ad sales fell for the first time ...