McDonald’s considers selling part of digital startup Dynamic Yield

McDonald’s considers selling part of digital startup Dynamic Yield
McDonald’s said Dynamic Yield’s technology was used across many markets, adding, “We’re continuing to deploy to more.” (File/AFP)
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Updated 27 February 2021

McDonald’s considers selling part of digital startup Dynamic Yield

McDonald’s considers selling part of digital startup Dynamic Yield
  • Dynamic Yield is run as a standalone company within McDonald’s
  • The startup, whose customers include IKEA and Lacoste, has businesses with more than 300 brands globally

McDonald’s Corp. is exploring selling part of Israeli artificial intelligence startup Dynamic Yield Ltd, which it acquired two years ago in an attempt to boost online marketing efforts, the company said on Friday.
Dynamic Yield, run as a standalone company within McDonald’s, personalizes customers’ experience by changing offerings on the chain’s Drive Thru menu displays, according to time of day, weather, customer traffic and trending choices.
The startup, whose customers include IKEA and Lacoste, has businesses with more than 300 brands globally.
“The potential sale of the non-McDonald’s part of our business has been discussed from the outset and now feels like the right time to explore that possibility,” its chief executive, Liad Agmon, said in a statement.
The Chicago-based hamburger chain said it was considering a sale of only the part of Dynamic Yield that works with other companies with no timeline set for the deal.
McDonald’s said Dynamic Yield’s technology was used across many markets, adding, “We’re continuing to deploy to more.”


Saudi investment chief Al-Falih in Kazakhstan to strengthen economic ties

Saudi investment chief Al-Falih in Kazakhstan to strengthen economic ties
Updated 21 min 52 sec ago

Saudi investment chief Al-Falih in Kazakhstan to strengthen economic ties

Saudi investment chief Al-Falih in Kazakhstan to strengthen economic ties

RIYADH: Saudi Investment Minister Khalid Al-Falih met Kazakhstan President Kassym-Jomart Tokayev and Prime Minister Askar Mamin during an official visit to the country on Sunday. 
The two sides discussed ways to enhance bilateral ties and bolster cooperation in different sectors. 
The Saudi delegation met government officials and representatives of major Kazakh companies. 
The visit aims to enhance economic ties between the two countries. During the 5th meeting of the Saudi-Kazakhstan Joint Committee, Al-Falih stressed the importance of promoting mutual and joint investments in the two countries and taking advantage of the available opportunities, especially as the Kingdom’s economy opened its door to foreign investments in several areas.
Al-Falih will also attend the signing of an MoU between the National Companies Entrepreneurship Program of the Ministry of Investment and Kazakh Invest.

 

 

 

 


Saudi stock market inches higher

Saudi stock market inches higher
Updated 26 September 2021

Saudi stock market inches higher

Saudi stock market inches higher

RIYADH: The Tadawul All Share Index ended Sunday’s trading 0.73 percent higher with 82.29 points while the parallel market Nomu declined by 195.17 points or 0.78 percent.

Liquidity in Nomu amounted to about SR35 million whereas liquidity in the main market “TASI” remained around SR6 billion with 169.4 million shares traded, in 243,8000 deals.
Shares of 115 companies increased while stocks of 71 firms declined.

Twelve out of the 21 market sectors rose with basic materials up 2.5 percent, media and entertainment 1.7 percent, long-term and capital goods 0.9 percent.

While the remaining 9 sectors declined. Shares in the investment and finance sector dropped by 1.2 percent, communications 1 percent, and applications and technical services 0.8 percent.


Oman Air seeks oneworld alliance membership

Oman Air seeks oneworld alliance membership
Updated 26 September 2021

Oman Air seeks oneworld alliance membership

Oman Air seeks oneworld alliance membership

DUBAI: State-owned Oman Air announced on Sunday its intention to apply to join the oneworld global airline alliance and said it had asked fellow Gulf carrier and member Qatar Airways to help it.

Oman Air said it had approached Qatar Airways, whose chief executive Akbar Al-Baker is the chairman of the airline group, for guidance in making its application.

“As the industry recovers from COVID, airline alliances are going to be more important than ever,” the airline said in an emailed statement to Reuters.

“This will provide us with excellent global connectivity, a seamless travel experience and more valuable loyalty offerings for our guests.”

A oneworld spokesman said the alliance was at any time in talks with prospective members but that it did not comment on specific airlines.

“As airlines recover from COVID-19, alliances will become more important by providing global connectivity, as airlines reshape their networks, many with reduced fleets when compared to their pre-COVID size,” the onewolrd spokesman said.

A Qatar Airways spokesperson earlier referred comment to oneworld.

There are 14 airlines in the oneworld alliance, including Qantas, American Airlines and British Airways.

Qatar Airways holds direct and indirect stakes in three oneworld members, including British Airways and Cathay Pacific.


Saudi Arabia’s real estate deals rise by 19%

Saudi Arabia’s  real estate deals rise by 19%
Updated 26 September 2021

Saudi Arabia’s real estate deals rise by 19%

Saudi Arabia’s  real estate deals rise by 19%

RIYADH: The value of real estate transactions in Saudi Arabia increased by 19 percent to approximately SR15.59 billion ($4.1 billion) in the period between August and September, as compared to SR13.12 billion in the same period last year, Argaam reported citing figures issued by the Justice Ministry.
The number of real estate transactions recorded during the same period stood at around 20,900.
Commercial real estate deals rose by 93 percent to reach SR5.2 billion compared to the same period last year. 
Residential real estate deals represented 58.3 percent of the total transactions, commercial deals (33.4 percent), and agricultural and industrial deals stood at 8.3 percent.
Riyadh witnessed the largest number of real estate deals worth SR6.88 billion, followed by Jeddah at SR2.21 billion.


Saudi agriculture fund finances projects worth $480m

Saudi agriculture fund finances projects worth $480m
Updated 26 September 2021

Saudi agriculture fund finances projects worth $480m

Saudi agriculture fund finances projects worth $480m

RIYADH: Saudi Arabia’s Agricultural Development Fund approved funds worth SR1.8 billion ($480 million) to support different agricultural projects in the Kingdom since the beginning of the year, Argaam reported citing an official statement.
At a recent G20 meeting in Italy, Saudi Minister of Environment, Water and Agriculture Abdul Rahman Al-Fadhli said the Kingdom has allocated SR12 billion to support small farmers.
The minister noted that agricultural investments in Saudi Arabia, funded by the Agricultural Development Fund, have grown over the past four years by about 400 percent, which has contributed to building a resilient and sustainable food system.
The Kingdom has turned to modern technical methods in the field of agricultural extension, with the aim of reaching the largest segment of farmers in a faster and more efficient manner, the minister said.