Impact Investing Is Turning Mainstream, Report Finds

AmiViz announced a strategic partnership with BigID, a leader in data security, compliance, privacy, and AI data management. This collaboration is set to transform how organizations in the Middle East handle their data by providing a unified platform for enhanced data visibility and control.

Through this partnership, AmiViz will integrate BigID’s advanced solutions into its extensive portfolio of cybersecurity products and services. BigID stands out in the industry, having been recognized by CNBC as one of the top 25 startups for the enterprise, and has consistently been named to both the Inc 5000 and Deloitte 500 lists. Their expertise in AI-driven data management and robust compliance solutions positions them as a technology leader in the rapidly evolving data security sector.

“The alliance with BigID aligns perfectly with our mission to empower regional enterprises with top-tier IT security solutions,” said Ilyas Mohammed, COO at AmiViz. “BigID’s unique platform enables businesses to significantly reduce their data risks, automate security, meet compliance requirements, and gain a deeper understanding of their data spread across multicloud, hybrid cloud, IaaS, PaaS, SaaS, and on-premises environments.”

BigID’s platform offers organizations the tools to proactively discover, manage, and secure their data, enhancing operational efficiencies and protecting against data breaches. With data breaches on the rise and stricter compliance regulations being implemented worldwide, there is a growing need for comprehensive data management solutions that can address complex security landscapes.

“We are excited to partner with AmiViz and extend our reach into the Middle East market,” said Nick Maxwell, SVP of Sales for EMEA and APAC of BigID. “This partnership is a testament to BigID’s commitment to global expansion and our focus on helping organizations worldwide manage and secure their most valuable asset – their data.”

The partnership is expected to drive greater data governance across industries in the Middle East, enabling businesses to thrive in an era where data security is paramount. Customers in the region can now leverage BigID’s innovative technology through AmiViz’s trusted distribution network.

Brands For Less Group (BFL) announces its new partnership with Resal, a top digital platform in Saudi Arabia. This collaboration will expand the Group’s presence in the Saudi market by offering digital gift cards through Resal, providing customers with easier access to the brand’s wide range of products and a seamless shopping experience.

Resal specializes in digital solutions, making it an ideal partner for BFL Group as it expands its digital offerings. By introducing BFL gift cards on Resal’s platform, customers will enjoy a fast, and user-friendly digital solution that supports an omnichannel experience. This allows them to use their gift cards seamlessly both online and in-store, giving them flexible options for a more convenient shopping experience.

As digital transformation continues to accelerate across the region, this collaboration solidifies BFL’s position as an innovative brand, addressing the growing demand for quick and efficient online transactions. By integrating digital gift cards with Resal, Brands For Less is set to better serve customers, improve satisfaction, and support long-term loyalty in Saudi Arabia’s competitive retail market.

The OQEP offering is the largest IPO in the history of the Sultanate of Oman, with approximately two billion shares offered, representing 25% of the company’s total issued share capital.

BankDhofar’s customers confirmed the ease of the subscription process via the mobile banking application, saving them time and effort without having to visit any of the various branches spread across the Sultanate of Oman.

The customers mentioned that this subscription is an opportunity to grow their money and diversify their investment portfolios. This subscription is also important for the Muscat Stock Exchange and the injection of liquidity into it, and for the revival of the national economy in general.

Abdul Aziz Al Jahouri considered the subscription in OQEP a real opportunity to grow his long-saved money, stressing that the share price was convenient for him. “I subscribed for myself and my family through BankDhofar’s mobile application, and the process was very quick and took only few seconds.”

He also noted that technology has helped reduce the time and effort for individuals, as he no longer had to visit the branch to complete the subscription process, as the application allowed him to do it from his office.

Al Jahouri decided to establish a close relationship with the bank recently in September, when he saw the bank’s announcement regarding 0% interest financing for the IPO. Although he did not need financing for the IPO, the facilities offered by BankDhofar to individuals and investors prompted him to open a new bank account.

Al Jahouri said: The IPO contributes to attracting foreign investors to the Muscat Stock Exchange, which will lead to the recovery of the national economy in general. He is optimistic that the share price will be between 420 and 440 baisas when it is listed on the MSX.

Samra Sulaiman Al Harthi praised the speed of the subscription process through BankDhofar’s mobile application: “Subscribing through the app saved time and effort from visiting branches,” she said, emphasizing that she will continue to use the application for future subscriptions.

Al Harthi expects the share price to be more than 400 baisas when it is listed on the Muscat Stock Exchange, stressing that the factor that prompted her to subscribe is the performance of the company, which is the most important company in the OQ Group, so the IPO was an opportunity for her to grow her funds and diversify her investment portfolio.

Al Harthi confirmed that this IPO contributes to the revival of the stock market and enhances liquidity, which reflects positively on the national economy.

Al Harthi has been a customer of BankDhofar for 15 years and has not thought of moving to another bank as she is satisfied with the services provided by the bank.

Hawa Mohammed Al Balushi did not hesitate to participate in OQEP’s IPO because she saw it as another opportunity to invest her money and earn an additional income on top of her main income from her full-time job.

She says: I have had a good relationship with BankDhofar for six years, and that is why I chose to subscribe through the bank’s mobile application, stressing that the subscription process was quick and easy and did not take much time.

She adds: Such IPOs certainly contribute to the development of the MSX and turn it into an emerging stock exchange in the future, as well as boosting the country’s economy in general.

Visa marks a significant milestone as it celebrates 40 years of operation in Saudi Arabia with the opening of a state-of-the-art Innovation Center and a new office in the prestigious King Abdullah Financial District (KAFD). Visa’s new facilities are integral to the company’s commitment to supporting Saudi Arabia’s Vision 2030, aiming to position the Kingdom as a global hub for fintech and digital commerce innovation.

The Riyadh Innovation Center – Visa’s fourth globally, will play a pivotal role in advancing next-generation payment solutions and strengthening partnerships with local fintechs, financial institutions, government entities, and businesses.

As part of Visa’s expansive global innovation network, this facility is designed to act as a hub for co-developing cutting-edge payment solutions tailored to the Kingdom’s needs. The center features payment solutions powered by advanced technologies like Artificial Intelligence (AI), virtual reality, biometrics, and the Internet of Things (IoT), with a focus on government solutions, e-sports/gaming industry, smart cities, retail and tourism.

The Center’s capabilities will not only serve the local market but also allow Saudi-made innovations to be transferred globally, positioning the Kingdom as a driving force in the global digital economy. With Saudi Arabia projected to see double digital growth, the Innovation Center is poised to accelerate this growth, propelling the Kingdom toward its Vision 2030 goals.

“As one of Visa’s largest markets in the CEMEA region, the Kingdom of Saudi Arabia has rapidly emerged as an innovative leader in digital commerce propelled by the clear vision of the government and efforts of the local industry.  Our new Innovation Center in Riyadh has been designed to bring the next generation of payment technology and will serve as a collaborative platform to co-create the future of digital commerce,” said Andrew Torre, Visa’s Regional President for CEMEA. “We are proud to build on our 40 years of supporting digital payments in Saudi Arabia with our expanded innovation capabilities that will further strengthen the Kingdom’s position as a global hub for digital commerce, transforming how payments are made across the world.”

Strategic Expansion with a New Office in King Abdullah Financial District

The new Innovation Center is part of Visa’s new office in the King Abdullah Financial District, where Visa’s payment experts and business development teams for Saudi Arabia, Bahrain and Oman will be based.  This move to KAFD brings Visa closer to its key clients and partners, fostering deeper collaboration across sectors such as government, financial services, retail and fintech. The modern workspace is designed to support Visa’s growing team and expanding operations, with plans for significant headcount growth and senior talent acquisition across multiple departments, including technology, product development, and government engagement.

“Over the past 40 years, Visa has played a pivotal role in building Saudi Arabia’s payments infrastructure, transforming it into a key digital payments market globally,” said Ali Bailoun, Visa’s Vice President and Regional General Manager for Saudi Arabia, Bahrain and Oman. “The relocation of our office to the King Abdullah Financial District is a significant investment that underscores our confidence in Saudi Arabia as a thriving payments market. It strengthens our ability to collaborate and innovate with our clients and partners while ensuring we continue to support the Kingdom’s ambitious digital transformation goals in line with Vision 2030.”

Sultan Alobaida, Chief Commercial Officer of the KAFD Development & Management Company, noted, “The Saudi banking sector continues to thrive within a remarkably supportive operational climate, underpinned by a resilient and thriving financial sector, achieving a robust growth of 9.3% in 2023 and an impressive 3.9% in just the first quarter of 2024. At KAFD, we are committed to collaborating with the financial industry and international partners such as payment technology leaders like Visa to shape the financial and payments ecosystem of the future, which is integral to Saudi Arabia’s economic development and sustainable growth and in alignment with Vision 2030.”

He added, “Our strong financial presence helps bolster Riyadh’s stature as a premier global financial center, drawing a distinguished array of fintechs, banks and payment players, and we are delighted to welcome Visa to this esteemed portfolio. Their presence anchors our shared vision for the evolving financial and payments landscape in Saudi Arabia.”

Wholly owned by the Public Investment Fund, KAFD is one of the most visionary and transformative mixed-use developments that merges the worlds of business and lifestyle in the Kingdom of Saudi Arabia. It spans 1.6 million square meters of modern and innovative Grade A office spaces, world class facilities and upscale residences designed to transform how urban communities live, work, and play. A green district, KAFD is the world’s largest LEED platinum-certified business and lifestyle destination.

Visa’s 40-year journey in Saudi Arabia has been defined by ongoing investment in the Kingdom’s digital ecosystem. The company’s leadership is reflected in its role as a key enabler of digital payments, driving growth in areas such as data analytics, B2B payments, and the gaming industry. Visa’s Innovation Center and new office will further consolidate its position at the forefront of the GCC’s evolving digital landscape.

Bayt.com and the Ministry of Communications and Information Technology (MCIT) in Saudi Arabia have signed a Memorandum of Understanding (MoU). The strategic partnership marks a key milestone in advancing the Kingdom’s talent ecosystem, particularly within the technology and telecommunications sectors, in alignment with Saudi Vision 2030.

The MoU establishes the foundation for the Tech Talent Hub initiative, a program designed to strategically identify, develop, and retain top tech talent in Saudi Arabia. Through this collaboration, Bayt.com, with over 52 million job seekers, and MCIT aim to support the growth of emerging tech companies and enhance the overall talent pool in the Kingdom’s technology sector. The initiative is a significant step toward empowering both employers and job seekers, ensuring that the Saudi workforce remains competitive in an ever-evolving digital landscape.

Mr. Ibrahem AlNasser, Deputy Minister for Future Jobs and Capabilities, commented on the collaboration: “We are excited to partner with Bayt.com on this crucial initiative. The Tech Talent Hub will play a pivotal role in developing the skills and expertise necessary for Saudi Arabia to thrive in the rapidly growing technology sector. This partnership aligns with our commitment to achieving the goals of Saudi Vision 2030 by fostering innovation and building a sustainable, knowledge-based economy.”

Under this partnership, the MCIT will lead the establishment of the Tech Talent Hub in collaboration with Talentera, Bayt.com’s specialized Software recruitment platform providing an Applicant Tracking System (ATS). The Tech Talent Hub will feature a dedicated track for technology talent, and MCIT will provide key data on job seekers to enable a more targeted and effective approach to talent management. Bayt.com will contribute by offering a range of services tailored to tech companies, such as organizing workshops and providing continuous support to help develop and connect tech talent with industry needs.

Rabea Ataya, Founder and CEO of Bayt.com added: “At Bayt.com, we are deeply committed to supporting the Kingdom’s vision of becoming a global technology hub. By partnering with MCIT, we are ensuring that top tech talent in Saudi Arabia is identified, nurtured, and connected with the right opportunities. This initiative not only benefits job seekers but also empowers companies to access a highly skilled and diverse talent pool, driving the growth of the technology sector.”

The Tech Talent Hub initiative will be rolled out in three phases over the course of one year, which underscores the commitment of both Bayt.com and MCIT to drive innovation and foster the development of the technology and telecommunications workforce in the Kingdom. The Tech Talent Hub Initiative will not only support the Kingdom’s Vision 2030 goals but also enhance the career prospects of thousands of job seekers across Saudi Arabia, showcasing Bayt.com’s dedication to delivering cutting-edge recruitment solutions and strengthening its role as a key partner in the Kingdom’s economic and technological transformation.

Move over, Marvel. The next blockbuster entertainment franchise might come from Japan.

Anime is shaping up as the country’s next big export industry, beyond cars and electronics. This once-niche entertainment form is entering the worldwide mainstream , and its growth could light up investors’ portfolios.

The global market for Japanese animation, known as anime, and its related products has more than doubled between 2012 and 2022 to 2.9 trillion yen, equivalent to $20 billion, according to the Association of Japanese Animations. The overseas market has been driving that growth. Markets outside of Japan made up around half of the total in 2022, compared with around 18% a decade earlier.

Streaming companies such as Netflix are certainly taking notice. Its live-action series “One Piece,” based on a Japanese comic, was its most-watched show in the second half of 2023. In fact, anime content on Netflix in the period logged 14% viewing growth from the first half of 2023, compared with a 4% drop overall, according to Jefferies. These streaming platforms will continue to introduce more anime-related content to their global audiences.

Japan’s anime and manga, the Japanese word for comics, have created many well-known characters and franchises over the years, such as Pokémon. And it looks to be getting even more mainstream. The anime market in North America has grown from $1.6 billion in 2018 to $4 billion this year, according to Jefferies. And Asia, which has long been more receptive to anime, will likely continue to grow strongly, especially in China. Anime has also been popular on Chinese streaming platforms such as Bilibili .

Apart from streaming, selling merchandise can be even more lucrative. Sanrio , which owns characters like Hello Kitty , has reported record profits, with its share price rising nearly sixfold over the past five years.

Sony would be another major beneficiary of this trend . The company owns animation streaming service Crunchyroll, which had 15 million subscribers as of June. That compared with around 3 million subscribers when Sony announced the acquisition of the streaming service from AT&T for nearly $1.2 billion in 2020. This contrasts with Sony’s approach in online streaming for other content: It acts more like an “arms dealer,” selling movies and shows to platforms such as Netflix and Amazon.com . That means the company could benefit more directly from the anime boom. And anime also has strong synergies with its movie and game businesses .

Anime maker Toei Animation, which owns popular franchises such as “One Piece” and “Dragon Ball,” is another listed company that would benefit. It makes anime itself, but more important for the overseas markets, it also earns licensing revenue from the copyrights to popular franchises that it owns. Sales outside of Japan accounted for more than half of its total revenue in the latest fiscal year ended in March. Season two for Netflix’s “One Piece” is already in production. Toei stock has nearly tripled since the end of 2019.

Anime has blockbuster potential, not just for audiences but for investors as well.

Suzanne Donohoe , a top executive at the private-equity firm EQT , started the month of September with a 10-day business trip through Asia and Europe. Back in New York, her husband, Matt Donohoe , was helping their three teenagers begin a new school year.

That was no simple task. Though the Donohoe children are close in age, each goes to a different school and has different extracurricular activities. Matt drove their 13-year-old to hockey practices in New Jersey and took all three children to Boston for a tournament. In between, there were groceries to buy, meals to prepare and homework to assist with.

It was all in a day’s work for Matt, who quit his job in 2007 to help out at home. A former emerging-markets trader with degrees from Georgetown and Columbia, he is part of a quiet but growing force of men who hold down the fort at home while their wives climb to the upper echelons of finance.

Wall Street has long struggled to elevate and retain women. A hotly competitive industry that demands long hours, frequent travel and the need to be on call constantly, it has been an unwelcoming environment for women, particularly those with children.

Women who have leadership roles in finance say that having a spouse who stays home—a househusband, if you will—can relieve that burden and allow them to rise. Even these privileged women, who have a spouse at home and often extra help beyond that, say maintaining the arrangements is a complex feat.

For the men, being a househusband can come with a stigma: Society often still assumes men will be the bigger earners and women the primary caregivers. But that is starting to change.

In 45% of U.S. opposite-sex marriages, the wife earns as much as or more than her husband, a share that has roughly tripled over the past 50 years, according to a 2023 report from Pew Research Center. Dads represented 18% of stay-at-home parents in 2021, up from 11% in 1989, another Pew study found.

There are now househusbands at the highest levels of power. Doug Emhoff , married to Democratic presidential nominee Kamala Harris, gave up his career—as an entertainment lawyer—to facilitate her political rise after she was elected vice president. On Wall Street, the list of women with husbands at home includes the chief executives of Citigroup and TIAA, the chief financial officer of the private-equity firm Vista Equity Partners, and the global co-head of Blackstone’s real-estate business, among others.

Senior female executives whose partners also work say they have to manage an intense balancing act and admit to being envious at times of their peers whose husbands don’t work.

“The prototype of the person you are competing with, the people in nearly all of the successful positions, have a stay-at-home partner,” says Suzanne Donohoe, who was a partner at Goldman Sachs and KKR before joining EQT in 2022. “The disheartening part of the message is somehow you can’t achieve if one parent isn’t at home.”

She says she doesn’t think that is the case and knows and admires people in demanding jobs who make it work with neither spouse at home.

‘Safety net for a trapeze artist’

Many couples say they started out with parallel professions but reached a point at which the woman’s career accelerated. When one person needed to devote more time to parenting, it made more sense for it to be the man.

Chip Kelly was working in tech sales at an international startup in 2009 when his wife, Natalie Hyche Kelly, who is a Visa executive, gave birth to their first child. After the couple didn’t move quickly enough to get a spot at the daycare they wanted, Chip volunteered to care for the baby and work while she slept.

He took calls while pushing their daughter in the stroller. When she went to sleep, he worked through dozens of emails. The couple had twins a few years later. Around that time, Natalie was promoted and started commuting to San Francisco four days a week from Charlotte, N.C., where the Kellys lived. Chip tried to work while caring for the twins and their older daughter when she wasn’t in preschool.

After the family moved to San Francisco, Chip realised that he was neither doing his job nor parenting as well as he wanted to. He decided to devote himself full time to the latter.

“It was kind of becoming a no-brainer because my wife’s career was going so well,” he says.

The Kellys are now starting their third year in London, where Natalie serves as the payments company’s chief risk officer for Europe. Chip considered going back to work a few years ago, but so far has decided against that because his family relies on his being at home.

“I’m like the safety net for a trapeze artist,” he says. “You don’t think about it unless they take it away.”

Kathleen McCarthy Baldwin, Blackstone’s global co-head of real estate, was nursing her second child in 2015 when her husband, Matt Baldwin, left his job as the CFO of a research firm and decided to take some time off.

“The idea of him not working made me very anxious, mostly because of my fears about what it would do to our marriage,” she says. “Would I be envious that he had more time with the children? Would he resent that I had this really exciting and demanding job?”

Matt told her he wasn’t worried. After spending a summer with their daughters at the Jersey Shore while Kathleen mostly worked in the city, Matt decided to make the change permanent.

These days, he rises at 5:30 a.m., before the rest of the house is awake. He makes oatmeal for the family four mornings a week, giving himself one morning off. On most days, Kathleen takes the girls to school while Matt goes indoor rock climbing.

After school, he and their nanny divide the responsibilities, with one taking the older daughter to sports practice, drama and guitar lessons and the other transporting the younger one to swimming lessons, violin and dance. Matt, who has become a skilled cook, usually makes dinner. Specialties include salmon, soft-cooked eggs and spicy pasta.

Kathleen says her husband’s decision to stay home created the flexibility for her to pursue other interests outside work, such as serving on the board of an anti-hunger nonprofit.

“When I talk with other women in this position, we all say our husbands are a very special breed,” she says. “They don’t define themselves by their jobs.”

Awkward moments

Not all men are as comfortable in the position.

One stay-at-home dad whose wife works in private wealth at an investment bank says he sometimes tells other men that he manages real estate—technically true because the family owns a few buildings. He says he can identify other men in his position at private-school functions when they say they “manage investments” or “run a boutique hedge fund.”

“We’re all out there, but we can’t say anything about it,” he says.

Paul Sullivan has been trying to change that. He founded a group called the Company of Dads after leaving his job as a columnist for the New York Times in 2021. Sullivan’s wife runs an asset-management firm and became very busy with work after the Covid-19 pandemic.

Sullivan already defined himself as what he dubs a “lead dad,” the go-to parent for everything from playdates and doctors’ appointments. But he found no support groups for men in his position. He reached out to senior female executives and asked them about the idea of creating one. They approved. Some said their husbands didn’t help enough. Others said their husband’s friends made fun of them, calling them names like “Mr. Mom.”

“Two things can be true at once,” Sullivan says. “Moms can be discriminated against in the workplace, and dads can be afraid to take a lead role at home.”

Sullivan now organises events for lead dads such as a Father’s Day beer fest and a March Madness get-together. He gives talks at workplaces and hosts a podcast on which he interviews therapists, parenting coaches and fatherhood advocates. He counts the husbands of Goldman Sachs partners, JPMorgan Chase managing directors and top law partners among his members.

For the Donohoes, having Matt at home has meant that he has developed a close bond with his children. Suzanne says it has given her credibility with her colleagues when she needs to attend one of their doctor’s appointments or sporting events.

There are still mix-ups. Schools often call Suzanne first if one of the children is sick or needs permission to do something even though Matt is listed first on contact forms. Once it happened when she was in London on business. She gently asked the school administrator to call her husband. He was at their apartment five minutes away.

Connectors always know just who you should talk to. They send the perfect introductory emails: warm, crisp, direct. And they make it look so effortless.

“It’s almost like music or something,” says David Dewane, a Chicago architect who loves introducing contacts from all parts of his life. “If you do it right, what you get is a little flash of possibility for both people.”

And possibility for the connector, too. Call it karma, the power of networks , or even just luck . If you become that hub for your friends and colleagues, it will come back to you, enriching your circles.

I think of people I know in my own life, the ones I speed text when I need a doctor for my kid. I feel so grateful, like they’re these life buoys that help keep me afloat. I wonder: Can the rest of us do that?

“We all develop a point at which the network that we’re in can’t satisfy our needs anymore,” says Brian Uzzi, a professor at Northwestern’s Kellogg School of Management who studies social network science.

When we become brokers, dipping in and out of various groups, we have access to all kinds of new information: little tips, fresh opportunities. Synthesizing multiple viewpoints, we’re better able to solve problems in innovative ways, Uzzi says. People love us for it.

Getting ahead

Connectors are more likely to get promoted and win bigger bonuses , Uzzi says. In one study of M.B.A. students, those who acted as brokers between cliques were twice as likely to get the best job offers upon graduating, he adds.

The key is to give before you ask.

“The idea of reciprocity is very powerful,” says Greg Pryor, a longtime human-resources executive who now researches organizational psychology topics.

Need a favor while you’re building a relationship, and you’re automatically in debt, he says. Instead, his career has been guided by a pay-it-forward mentality. He ends most calls by asking, “Is there anything I can do to help you?”

One time, a colleague asked if Pryor could get an acquaintance of hers up to speed on the topic of corporate culture and values. He spent a day with the friend-of-a-friend and connected her to others in the industry he thought could help.

The woman ended up becoming the chief human resources officer at software company Workday. When Pryor was looking for his next job, he reached out to her. A few weeks later, he was the new head of talent at Workday.

He spent a decade there, the best stretch of his career, he says.

The email formula

There’s an art to crafting the perfect email intro. Dewane, the Chicago architect who’s orchestrated thousands of introductions, is constantly scanning his mental Rolodex for pairs of contacts who can solve each other’s problems. He usually gets preapproval to reach out from both parties, then turns to his formula.

There’s two paragraphs—one for each person. He describes what they do, why he thought of them, and how they’re perfect to connect on this particular thing. He includes hyperlinks to both LinkedIn profiles. And he always puts the person who stands to gain more from the interaction last, queuing them up to initiate contact.

“I get kind of paranoid if intros just hang there,” he says.

If there’s a big difference in power between the two people, he choreographs the thread even more intricately. When connecting architecture students with professionals he knows at design studios, he’ll inform the students that he’s sending the email at 8 a.m. They are to reply by 8:04 a.m.

“I am going to open the door and then you are going to walk through it,” he says.

Oftentimes people freeze as they sit down to pen an email, scared of overpromising, says Erica Dhawan, a St. Petersburg, Fla.-based leadership consultant and author of a book about digital communication. Sliding into someone’s inbox involves risk. You’re encroaching on their time and looping yourself to two disparate contacts who may or may not hit it off.

Dhawan recommends using the phrase, “no guilt, no obligation,” when asking people if they’re open to connecting.

“I want them to feel like there’s mutual benefit,” she says, not like they’re doing her a favor.

Worst intro ever

Being on the receiving end of an introduction can also leave your stomach in knots, if it’s not done right.

“I’m in an email thread and I’m like, I don’t know why I’m here,” says Khaled Bashir, the founder of a marketing agency and AI startup in Toronto. “What am I supposed to do?”

Fellow founders will often connect him with potential clients. At least he thinks that’s what they are. The context is sometimes missing, and he’d appreciate a funny icebreaker so he can slide into the conversation without it having to be all business.

Bad intros can have happy endings, though.

Years back, Bashir was thrown into a random WhatsApp group by a client. No explanation, just him and one other guy. It turned out the other person was a fellow agency owner. The pair became fast friends. They bonded over the synergies in their work and a love of Japanese comics. Now, Bashir is selling the marketing part of his business to the friend, a move that will let him focus on growing his AI offerings.

Bon appétit

To make connections less awkward, add food. Michael Magdelinskas, who works in government affairs for a consulting firm, hosts frequent dinner parties at his Manhattan apartment. Over sous-vide pork chops and cognac ice cream, he brings together everyone from former colleagues to acquaintances visiting from overseas.

He crafts guest lists by thinking about common hobbies, hometowns and the ratio of introverts to extroverts. Recently, a group of attendees formed their own Instagram chat thread, bonding over an inside joke. They didn’t even think to include Magdelinskas.

“That’s a good thing,” he says. “That means the process is working.”

Agache, the holding company of LVMH founder and Chief Executive Bernard Arnault ’s family, is in exclusive talks to buy a majority stake in storied soccer club Paris FC, extending one of Europe’s richest families’ foray into sports.

Agache said in a statement Thursday that the Arnault family is teaming up with Austrian energy-drink maker Red Bull, which is currently negotiating a minority stake in the second-tier Parisian club.

While Red Bull will be involved with the sporting element in an advisory function, the Arnault family intends to provide the club with the resources its needs for its economic and sporting development.

Though the move would be the family’s first step into soccer, Red Bull is already heavily invested in the sport with stakes in top-level clubs in Germany, Austria and the U.S.

Through LVMH, however, the family has ramped up its sports involvement and sponsorships recently.

Earlier this month, the company struck a 10-year partnership deal with Formula One, capitalising on the sport’s global ascendance. And this summer, LVMH brands were hard to miss at the Paris Olympics after the luxury-goods maker paid roughly 150 million euros to be a sponsor of the global event.

With the controlling stake in Paris FC, the family aims to establish both the men’s and women’s side among the elite of French football, Agache said.

“With the arrival of Agache as the club’s majority shareholder, the club will take on a new dimension with new goals and criteria for success,” it said.

The current owner of Paris FC, Pierre Ferracci, will remain president, Agache said. Antoine Arnault will be Agache’s representative on the club’s board of directors.

Paris FC, founded in 1969, returned to professional ranks in 2015 after spending four decades in the amateur leagues. It hasn’t been a part of France’s top flight league since the late 1970s, but currently sits at the top of the second-best division in the French leagues.

When Kat and Mike Stickler filed for divorce, their lawyers had a math problem.

Among the couple’s biggest assets was MikeAndKat, a channel on TikTok and YouTube in which they shared their lives with about four million followers. No one knew how to evenly split MikeAndKat between Mike and Kat.

“The judge was like, ‘what?’” Kat said last month during a podcast interview with Northwestern Mutual. “It’s a whole new terrain.”

Social media pays the bills for millions of Americans. But making a living online is more financially complicated than working a 9-to-5. Influencers need an audience to win advertising deals, and changing what they post risks turning followers away. Couples who showcase their love life online face an existential threat to the family business when they split.

For the lawyers charged with pinning a dollar value to the accounts to divide them fairly, it’s way harder than assessing a house or car. Fortunes can swing depending on which ex has the keys to the account. That was Kat’s argument in fighting for control of the TikTok channel.

“If the TikTok account was left to me, it would keep growing, but if it wasn’t, it would stop,” said Kat, 29, in the podcast interview.

She was right.

Kat got the TikTok, changed that handle to KatStickler and now has almost 10.5 million followers. She has another three million across Instagram, YouTube and Facebook. The channels, where Kat posts skits impersonating her mother and snippets of her everyday life, have earned her enough to buy a condo and become a small business investor.

Mike ended up with the YouTube account, which is now defunct. He now works in sales and declined to comment.

There are 27 million paid content creators in the U.S., and 44% of them say social media is their full-time job, consultant The Keller Advisory Group found.

The big bucks don’t come from views or followers. Brands pay influencers to recommend a product or service to their audience. U.S. advertisers paid content creators $26 billion in 2023, according to Statista.

Once divorce specialists tally up how much money the accounts are raking in, the couple can divide them, or one partner can take more and buy out the other.

But there’s one elusive factor in a digital asset’s value: the account’s potential to keep making money. Both partners have to make a case for their role in that potential. How many pranks did they think of? How many hours did they spend editing videos?

“There’s typically one person in the relationship who is passionate about social media, who’s driving the business,” says Cameron Ajdari, who runs a talent management group with his wife representing some of TikTok’s most followed couples.

It’s not always clear who that person is by the time divorce rolls around. Social media success often evolves quickly, and couples may not be prepared to track finances and labour.

Reza and Puja Khan say everything they’ve done to amass about five million followers on shared channels has been a team effort. They started posting about their wedding in 2020 and, within months, Puja was able to quit her office job. Now, they estimate social media brings in about half a million dollars a year.

Almost all of that goes into a joint bank account. It was a little overwhelming to see their incomes jump so fast, far above what their parents made, say Reza, 28, and Puja, 27. They hired a financial adviser earlier this year, but the idea of dividing their empire has never crossed Puja’s mind.

“This is the first time we’re actually thinking about it,” she says. “If I really went public with a hypothetical split, that could create its own momentum.”

The way influencers rebuild their brands after breaking up can make or break their careers.

If the person got popular by posting memes or makeup tutorials, they probably won’t take much of a financial hit from a divorce. But there could be more damage if a lot of the videos feature family time.

“One could take it over and they just rebrand, which is risky,” says Nina Shayan Depatie, a divorce attorney in Los Angeles who has worked with influencers. “When you’re looking at the valuation, you would have to consider that.”

Ayumi Lashley, 34, started creating social media videos with her husband in 2017. They made it their full-time job in 2020 and the accounts paid for her car and house, she says.

When they divorced in 2023, they both tried to elevate their personal profiles, but their fan base is still attached to a nonexistent relationship. She says she chose not to share much about the split and lost a few thousand followers, while her ex posted more about the divorce.

“A lot of people were very upset with me for not talking about it,” Lashley says. “His career is doing amazing and mine is not.”

Many content creators don’t intend to make videos of their daily outfits forever, even if it isn’t divorce that ends their careers.

“I always joke we’re like NFL players. You get five or 10 good years, but you take one bad hit to the knee and you’re done,” says Vivian Tu, 30, who posts about financial literacy to roughly eight million followers. “You can’t control the algorithms. You can’t control what is in vogue and what’s not.”

Tu says she is preparing for a life away from social media by developing other streams of income, including writing a book and hosting a podcast.

She is also aware of what divorce could do to her business. Tu wrote up a prenuptial agreement that included all her social-media accounts before she got married in June.

“My social media is my résumé,” Tu says. “Why would I allow anybody else to put my work on their résumé?”

More than four in five young Americans are worried about the impact of climate change on people and the planet, according to a survey of nearly 16,000 youths published in Lancet Planetary Health on Thursday. Most respondents do not believe governments are doing enough to reduce emissions, and a majority are looking to the corporate sector to make big changes.

As this group of 16- to 25-year-olds enters the workforce, there’s some indication those feelings will affect big life decisions such as where to live, whether to have kids and what to do for work: 64% of respondents said they “strongly agree,” “agree” or “somewhat agree” that climate change will impact their plans for the future.

“We certainly can see that climate is causing a lot of distress,” said Eric Lewandowski, associate professor at New York University’s medical school and lead researcher on the study. He said this is the first survey of its kind that focuses on the U.S., and the largest his team is aware of. A global survey conducted in 2021 found similar levels of climate-related stress among youths around the world.

The study also examined links between experience of severe weather events and attitudes about climate change. The researchers found that regardless of political affiliation, people who said they had experienced severe weather events were more likely to report feeling worried about climate change. Just under half of respondents said they were “very sure” climate change is happening, and a further 20% were “moderately sure.”

“Being anxious about climate disruption is a legitimate response to a real threat,” said Lise Van Susteren, associate professor at George Washington University and researcher on the study. A co-founder of the Climate Psychiatry Alliance, a group that helps therapists support patients with environment-related anxiety, Van Susteren said the survey results confirmed what she has seen on the ground, but the numbers were more severe than she expected.

It’s still not clear whether feelings about climate change transfer into broader labor force trends. While 67% of respondents said they may choose to work for employers who show commitments to sustainability and reducing their climate impact, recruiters who work on hiring entry-level candidates for oil and gas jobs say they haven’t heard much about climate concerns, said Keith Wolf, Houston-based managing partner of staffing firm Murray Resources.

Wolf informally polled recruiters on his team, and they said entry-level candidates who expressed hesitancy to work for fossil-fuel companies were outnumbered by those who wanted to break into the field. Some job candidates expressed concerns about other factors affecting the industry, like volatility.

In 2017, Ernst & Young published a survey that found college students were reluctant to pursue jobs in the oil-and-gas industry because they viewed it as “dirty and dangerous,” said Tim Haskell, managing director at the accounting firm.

Since then, he said, employers have updated their talking points. “I think companies saw that message as well as some of their own internal research and have really tried to shift the employee value proposition to say, hey, come here and change the industry from the inside out,” Haskell said.

The Lancet survey found that climate-related concerns about the future extend beyond career choice. More than three-quarters of respondents said the future is frightening, and more than half of respondents agreed that they were hesitant to have children.

Elon Musk thinks of Tesla as an AI company. He’d be seriously bummed if it were valued like one.

Tesla’s third-quarter results gave the EV maker’s stock price a strong boost on Thursday, recovering the ground lost following the company’s disappointing Robotaxi event earlier this month. The reaction wasn’t entirely unwarranted: Tesla managed to surprise Wall Street by reversing the steady decline its automotive gross margins have suffered over the past two years. Strong growth in sales and gross profits in the company’s energy generation and storage segment also helped. Tesla’s total operating profit came in at $2.7 billion for the quarter—37% above Wall Street’s consensus forecast, according to FactSet.

Still, Tesla’s overall growth is far below normal, or at least what has long been the company’s version of normal. Total automotive revenue rising 2% year over year in the third quarter comes after two consecutive quarters of declines. That is also a fraction of the 45% growth Tesla’s core business averaged on a quarterly basis from 2020 through 2023. The world’s largest EV maker can’t escape the gravity of a global auto-sales slowdown .

And even the profit boost might not be built to last. “Sustaining these margins in Q4, however, will be challenging, given the current economic environment,” said Tesla Chief Financial Officer Vaibhav Taneja on the company’s conference call on Wednesday.

Analysts boosted their profit targets anyway. The consensus projection for Tesla’s per-share earnings over the next four quarters rose more than 5% following the company’s report. But even that doesn’t cover Tesla’s chunky valuation; Thursday’s jump of nearly 22% puts the stock price at around 83 times forward earnings. That is more than twice the multiple that megacap tech giants such as Apple , Microsoft and Amazon .com fetch. If Tesla were valued on par with Nvidia , whose chips Tesla is snapping up to power its ambitions in AI, autonomous driving and robotics, the stock price—and a good chunk of Musk’s net worth—would be be half its current level.

Hence, Tesla needs much, much more to go right than just a recovery in the global EV market. But its biggest ambitions are distant and by no means slam dunks. Musk reiterated his plan to have Robotaxis begin production in 2026 . The ultimate fate of that business, though, lies in the company’s ability to clear the necessary regulatory hurdles for self-driving cars in states like California—not to mention catching up to rivals such as Waymo that are already on the road.

“While compute capacity growth is a positive indicator that will support accelerated learning cycles, we remain cautious on Tesla’s system performance vs. peers given lack of driver-out regulatory approvals and limited detail on miles between engagement,” wrote Colin Rusch of Oppenheimer on Thursday.

The humanoid robot called Optimus is even more of a long shot—not that Musk qualifies it as such. “So I think it has a good chance of being the most valuable product ever made,” Musk said on Wednesday’s call.

Even some of Tesla’s near-term targets look ambitious. After scrapping its Model 2 project earlier this year, the company reiterated a plan to launch a “more affordable” car in the first half of next year, though details on that vehicle remain sparse. And Musk projected vehicle-sales growth of 20% to 30% next year—a sharp jump from the 13% pace analysts were projecting, according to FactSet.

“We struggle to handicap the unit growth, given the uncertain timing of volume production, a limited sense of how different the offerings will be relative to the current Model 3 and Y, and true delivered price,” wrote Toni Sacconaghi of Bernstein.

Tesla has to get an awful lot of rubber to meet the road.

Saudi Arabia’s non-oil exports saw a notable increase, in August 2024, rising by 7.5% to reach SR27.5 billion ($7.3 billion), compared to SR25.6 billion during the same month in 2023. According to data from the General Authority for Statistics (GASTAT), non-oil exports, excluding re-exports, experienced a 3% growth, while re-exports surged by an impressive 18.9% in the same timeframe.

However, the Kingdom’s total commodity exports experienced a decline of 9.8%, falling to SR92.8 billion ($24.7 billion) from SR102.9 billion in August 2023. This decrease was primarily attributed to a substantial drop in oil exports, which fell by 15.5% or SR12 billion. Oil exports in August were valued at SR65.3 billion ($17.3 billion), down from SR77.3 billion the previous year, largely due to reduced export volumes amid ongoing voluntary production cuts by the OPEC+ alliance.

The proportion of oil exports in the overall export landscape decreased significantly, dropping from 75.1% in August 2023 to 70.3% in August 2024. On the import side, the total value decreased by 3.9% in August 2024, amounting to SR64.8 billion ($17.2 billion), compared to SR67.4 billion in the same month last year.

The trade surplus for Saudi Arabia saw a 21% annual decline in August, totaling approximately SR28 billion, though it showed improvement compared to July. China continued to be the leading destination for Saudi commodity exports, accounting for 16% of the total, followed by South Korea at 9.6% and India at 9.5%. Other notable countries among the top 10 export destinations included Japan, the United Arab Emirates, the United States, Bahrain, Egypt, Poland, and Malaysia. Additionally, China ranked first in imports, comprising 22.2% of Saudi Arabia’s total imports in August.

Astra Tech, a UAE-grown technology powerhouse, announces its strategic engagement with the World Economic Forum (WEF) during the Annual Meeting 2024 in Dubai, UAE. This partnership marks a defining moment for Astra Tech as it steps onto the global stage, showcasing the UAE’s leadership in digital transformation and artificial intelligence (AI) advancements. Through this collaboration, Astra Tech aligns itself with WEF’s Centre for the Fourth Industrial Revolution (C4IR), propelling its mission to drive responsible and ethical technological development worldwide.

The signing ceremony took place during the Annual Meeting of the Global Future Councils, with Abdallah Abu Sheikh, Founder of Astra Tech and CEO of Botim, and Alexandre Raffoul, Member of the Executive Committee at WEF, in attendance. This collaboration also follows WEF’s announcement of a custom-built Strategic Intelligence platform to support the implementation of “We the UAE Vision 2031”, reinforcing the UAE’s commitment to using AI and advanced technologies for long-term, strategic policymaking.

As a homegrown company, Astra Tech embodies the UAE’s ambition to become a global leader in AI and fintech. With its disruptive Ultra Platform, Astra Tech is revolutionizing digital ecosystems by integrating fintech, AI-powered solutions, and conversational commerce into one seamless experience for over 155 million users globally​​​. Its flagship app, Botim, is central to this initiative, simplifying communications, payments, and e-commerce for millions, a vision aligned with WEF’s focus on transforming global governance of emerging technologies.

“We are proud to join the World Economic Forum in shaping the future of AI and digital finance,” said Abdallah Abu Sheikh, Founder of Astra Tech and CEO of Botim. “Our Ultra Platform is not just technology—it’s an enabler of global financial inclusion, ethical AI, and digital equity. Through this partnership, we are poised to extend the UAE’s vision of a fully digitized future to a global audience, demonstrating how technology can be harnessed to address the world’s most pressing challenges.”

Alexandre Raffoul, Member of the Executive Committee, World Economic Forum, added: “The World Economic Forum, committed to improving the state of the world, is the International Organization for Public-Private Cooperation. The Forum engages the foremost political, business and other leaders of society to shape global, regional and industry agendas.”

By joining WEF’s C4IR, Astra Tech strengthens its position as a leader in the Fourth Industrial Revolution, bringing together key players across sectors to foster global collaboration. This engagement will allow Astra Tech to contribute to global discussions around building robust digital infrastructure, promoting financial inclusion, and developing AI governance frameworks that reflect the UAE’s leadership in the region​​.

• The ASDA supermarket in Gillingham is an essential retail asset that integrates with the digital economy, offering ‘Click & Collect’ and ‘Home Delivery’ services to cater to the growing demand for convenient shopping experiences. This reflects Gulf investors’ increasing interest in stable, global assets that hedge against regional market fluctuations.
• The Travelodge hotel in Kingston Upon Thames is leased on a long-term, inflation-linked agreement. The property also offers future potential for alternative uses, such as co-living or student accommodation, which enhances its long-term value. These investments support regional economic initiatives, such as Saudi Arabia’s Vision 2030, by providing investors with access to diversified international assets that contribute to economic diversification.
• Similarly, the Quora Retail Park in Doncaster, leased primarily to Aldi and B&M Retail, benefits from long-term, inflation-linked income, reflecting Rasmala’s combination of local expertise and global reach.