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Person, Human, Audience

Who is Konstantin Sidorov?

Konstantin Sidorov is an international entrepreneur and investor with over 25 years’ experience in building, developing and restructuring businesses within the tech sector.  He has successfully built and sold several IT businesses. In 2016 he sold the Eastern European division of RRC Group to a leading US-listed distributor Ingram Micro. In 2020, he sold his […]

Reichstag building, Germany during daytime

Germany boosts Gulf travel budget with Russia savings

The German National Tourist Board (GNTB) increased its marketing budget this year in the Gulf by 10 percent, after making savings by shutting down several of its international offices, including Russia. “We actually got a 10 percent budget increase because, as you can see, we unfortunately had to close our Russian office,” Yamina Sofo, director […]

Person, Human, Sunglasses

Chiara Ferragni reveals investor interest in fashion brand

Chiara Ferragni has received various expressions of interest from potential investors in her brand, the Italian Instagram star said in an interview with Milano Finanza. Ferragni, 35, is Italy’s top fashion influencer with 27 million followers on Instagram. In January she mandated BNP Paribas to find an investor to help expand her fashion brand internationally. […]

PGA Tour bans golfers from taking part in Saudi-backed event

The PGA Tour on Tuesday rejected requests from players for authorisation to play the first Saudi-backed LIV Golf Invitational Series event in London next month. The new series, which offers the promise of super-sized prize money, is set to begin June 9 and would conflict with the RBC Canadian Open, a PGA Tour official told […]

3 smiling children

‘Zakat can save the world’ … and this is how

International charities hit hard by the pandemic are turning to Zakat, which requires Muslims to donate a percentage of their wealth to help the needy As countries rich and poor reeled from the impact of the coronavirus pandemic in 2020 and 2021, the work of charities was more important than ever. Yet many of these […]

A Qatargas LNG carrier

Germany and Qatar ‘at odds over LNG deals’

Germany and Qatar’s talks over liquefied natural gas supply deals have run into difficulties, according to three sources familiar with the negotiations. Berlin needs to secure large volumes of LNG to reduce its dependence on Russian gas, but sources said the Germans were reluctant to accept Qatar’s condition that they sign deals lasting at least […]

UK-Gulf deal will be ‘tough nut to crack,’ says top Johnson ally

The co-chairman of the UAE-UK Business Council and former chief strategic adviser to Prime Minister Boris Johnson says the upcoming UK-Gulf trade agreements could be delayed but bilateral opportunities remain immense Lord Udny-Lister, co-chairman of the UAE-UK Business Council and one of Boris Johnson’s closest political allies, cuts a distinguished figure amid the sumptuous surroundings […]

European Union flags

EU ‘may offer sweeteners to get its ban on Russian oil’

The European Commission is considering offering landlocked eastern European Union states more money to upgrade oil infrastructure in a bid to convince them to agree to an embargo on Russian oil, according to an EU source. The measures are part of a package of new sanctions against Russia for its invasion of Ukraine, but an […]

Boeing 737 Max

Leasing giant AerCap says Boeing will ‘bounce back’

The head of the world’s largest aircraft leasing company threw his weight behind Boeing on Monday, saying the jetmaker would overcome a spate of industrial and certification problems. “I think Boeing will bounce back. There are a few scenes in this movie to be played out yet,” Aengus Kelly, AerCap’s chief executive, told the Airline […]

Lufthansa sees return to profit as air travel rebounds

Germany’s Lufthansa is looking to return to an operating profit this quarter as demand for travel rises with the easing of coronavirus curbs and the airline raises ticket prices to offset higher costs. The group, which owns the German airlines Lufthansa and Eurowings as well as Swiss, Austrian and Brussels Airlines, doubled sales in the […]

BBVA is poised to take over Garanti

BBVA exceeds 50% in Garanti after raising offer for bank

Spain’s BBVA said on Monday it had already secured more than 50 percent of Garanti after raising its bid for the rest of the Turkish bank it does not own, takingadvantage of a slide in the lira with a 1.985 billion euro ($2.1 billion) offer to increase its emerging market exposure. BBVA had said earlier it had upped […]

Binance registers with France crypto regulator, advances European plans

Cryptocurrency exchange Binance has registered with France’s market regulator, Chief Executive Officer Changpeng Zhao said in a tweet, advancing the company’s plan to make Paris its European base. “It’s a real stamp of quality,” said Binance France’s General Manager David Prinçay, referring to the registration with the regulator, AMF. “The perception is changing. It allows […]

Bicycle, Bike, Vehicle

Deliveroo backs off plan to cut pay of UAE riders after strike

Delivery service Deliveroo on Monday put on hold plans to cut pay and extend working hours for its drivers in the United Arab Emirates after a rare strike over the weekend. The Amazon-backed company said in an email to restaurants, seen by Reuters, that it had paused proposed changes in its rider pay structure and […]

Wristwatch, Clock Tower, Building

Swiss watchmakers grapple with fallout of Russian crisis

Swiss watchmakers are gathering in Geneva this week for their first big industry event in three years, tackling the impact of sanctions on rich Russians arisingfrom the war in Ukraine. Russia was only the 17th largest market for Swiss watch exports last year, but how to manage business and client relations during such a sensitive […]

Betting big on drug discovery, UK’s OMass Therapeutics raises $100m

Betting on a fresh formula for the arduous, expensive and failure-prone field of drug discovery, UK-based OMass Therapeutics on Thursday said it has raised $100million in series B funding. Including the latest injection – led by a pack of prominent new investors including the Google Ventures and Sanofi Ventures as well as existing investors such […]

Oil prices have rocketed since the Russian invasion of Ukraine

Tapping oil stockpiles may not be enough to plug loss of Russian supply

Top oil consuming nations may find that one of their main tools to fight high global oil prices – the release of strategic stockpiles – will prove inadequate to soothe markets starved of Russian supply since its invasion of Ukraine. The 31-member International Energy Agency, representing industrialised nations but not Russia, presided over the fourth […]