Kuwait’s Agility hopes for revenue rebound

Updated 21 October 2014
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Kuwait’s Agility hopes for revenue rebound

KUWAIT: Revenue at Kuwait-listed logistics company Agility is expected to resume growing next year as emerging markets business expands and the company develops new sectors, Chief Executive Tarek Sultan said.
With more than 20,000 employees and over 500 offices in more than 100 countries, Agility is one of Kuwait’s corporate success stories and a play on the Gulf’s rapidly expanding trade links with the rest of the world, especially emerging markets in Asia and Africa.
Its logistics and freight forwarding businesses, which account for most of its revenue, have been hit by instability in the global economy over the last few years. Total revenue sank 7 percent to 656 million dinars ($2.28 billion) in the first half of this year, after a 3 percent drop in 2013.
Agility has been able to keep its profit growing by controlling costs; salaries and employee benefits were essentially flat in the first half as net income climbed 11 percent to 24.1 million dinars.
“Globally, revenues have been affected by conditions that have challenged the freight forwarding industry,” Sultan said in an interview for the Reuters Middle East Investment Summit, adding that Agility had therefore been focusing on how it could boost productivity.


French drugmaker Sanofi, Google to use data tech for innovations

Updated 18 June 2019
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French drugmaker Sanofi, Google to use data tech for innovations

  • Sanofi and Google will use data sets to improve their understanding of key diseases and extract patients’ insights and feedback
  • The partnership will be “combining Sanofi’s biologic innovations and scientific data with Google’s industry-leading capabilities”

PARIS: French health care company Sanofi has teamed up with Google to work on innovations, aimed at using emerging data technologies to change how medicines and health services will be delivered in future.
Sanofi and Google will use data sets to improve their understanding of key diseases and extract patients’ insights and feedback, the companies said in a joint statement.
“Combining Sanofi’s biologic innovations and scientific data with Google’s industry-leading capabilities, from cloud computing to state-of-the-art artificial intelligence, we aspire to give people more control over their health and accelerate the discovery of new therapies,” said Ameet Nathwani, chief medical officer and executive vice president, Sanofi.
This would enable Sanofi to research and develop a more personalized approach to treatment and identify accompanying technologies to improve results, the statement said.