Media platform OSN appoints Interim CEO 

Media platform OSN appoints Interim CEO 
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Updated 30 August 2021

Media platform OSN appoints Interim CEO 

Media platform OSN appoints Interim CEO 
  • Sangeeta Desai has been appointed as Interim Chief Executive Officer
  • The role will see Ms Desai increase her involvement with OSN

 

Dubai: Sangeeta Desai has been appointed as Interim Chief Executive Officer at media group OSN (Panther Media Group Ltd) with immediate effect the company announced Monday. Ms. Desai has served as a non-executive director on the Board for over a year.

Mr. Faisal Al Ayyar, Chairman of OSN said: “The Board is delighted that Sangeeta has accepted the position of Interim CEO, which will increase her involvement with OSN. Sangeeta has a proven track record in successfully leading large scale company transformations, scaling businesses, navigating disruption, and growing global brands.

Most recently, Ms. Desai was Group COO and CEO of Emerging Markets at Fremantle, and prior to that she was COO of Hit Entertainment. She started her career in investment banking at Goldman Sachs and JPMorgan.

OSN describes itself as the region’s 'leading entertainment hub' and is the exclusive distributor of The Walt Disney Company’s new Disney+ Originals in the Middle East region. It has long-term partnerships with major studios including Disney, HBO, NBC Universal, Fox, Paramount, MGM, and Sony, providing content in Arabic, English, and Filipino.


Softbank Vision Fund, Mubadala invest in European mobility company TIER

Softbank Vision Fund, Mubadala invest in European mobility company TIER
Updated 3 min 41 sec ago

Softbank Vision Fund, Mubadala invest in European mobility company TIER

Softbank Vision Fund, Mubadala invest in European mobility company TIER

DUBAI: TIER, Europe’s micro-mobility company, announced the first close of its $200 million Series D funding round led by previous investors SoftBank Vision Fund 2, Mubadala Capital and adds new partners like M&G Investments, a green impact fund, and Mountain Partners, a diversified global investment holding.

The company, which entered the UAE market in 2020 after being selected as a leading service provider by the Roads & Transport Authority (RTA), said in a statement that the funding provides TIER with additional resources to fulfil its mission to "change mobility for good by providing the safest, most equitable and sustainable mobility solution in the market."


Telecom Zain KSA profits drop 36% for first 9 months of 2021

Telecom Zain KSA profits drop 36% for first 9 months of 2021
Updated 17 min 56 sec ago

Telecom Zain KSA profits drop 36% for first 9 months of 2021

Telecom Zain KSA profits drop 36% for first 9 months of 2021
  • The decline is due to a 1 percent drop in revenue, as well as rising revenue costs by 19 percent, the company said in a bourse filing. 

DUBAI: Saudi telecom firm Zain KSA posted a net profit of SR143 million ($38.1 million) in the first nine months of 2021, a 36 percent drop from the same period last year. 

The decline is due to a 1 percent drop in revenue, as well as rising revenue costs by 19 percent, the company said in a bourse filing. 

Lowering operating expenses and the results of the capital restructuring last year helped compensate for the fall, it added. 


Saudi Non-oil exports rose by 26.8 percent in August, official data shows

Saudi Non-oil exports rose by 26.8 percent in August, official data shows
Updated 25 min 3 sec ago

Saudi Non-oil exports rose by 26.8 percent in August, official data shows

Saudi Non-oil exports rose by 26.8 percent in August, official data shows

CAIRO: Saudi Arabian non-oil exports rose by 26.8 percent in August from a year ago, according to the General Authority of Statistics (GASTAT).


Iraq, Saudi ACWA Power close to signing a solar energy agreement

Iraq, Saudi ACWA Power close to signing a solar energy agreement
Updated 37 min 4 sec ago

Iraq, Saudi ACWA Power close to signing a solar energy agreement

Iraq, Saudi ACWA Power close to signing a solar energy agreement
  • The ministry said it is close to signing the agreement with the Saudi utility company to generate 1,000 megawatts of solar power in the Najaf Governorate.

CAIRO: Iraq is in advanced discussions to establish a solar energy project with Saudi Arabia’s ACWA Power, the oil ministry announced on its Facebook page. 

The ministry said it is close to signing the agreement with the Saudi utility company to generate 1,000 megawatts of solar power in the Najaf Governorate.


Houthi’s boat attacks pose threat to global trade lines at Red Sea

Houthi’s boat attacks pose threat to global trade lines at Red Sea
Updated 38 min 8 sec ago

Houthi’s boat attacks pose threat to global trade lines at Red Sea

Houthi’s boat attacks pose threat to global trade lines at Red Sea

DUBAI: The Houthi militia’s planned attacks using explosive-rigged boats in the Red Sea pose a threat to global maritime trade lines in the area, Yemen’s information, culture and tourism minister Moammar Al-Eryani warned.
The Arab coalition earlier said it destroyed four Houthi boats loaded with explosives during an airstrike in Yemen’s western province of Hodeidah.
The vessels were being prepared to attack ships sailing through the Red Sea.
“The coalition efforts have contributed to protecting shipping lanes and international trade in the Bab Al-Mandab Strait and south of (the) Red Sea,” the coalition said in a statement.
Al-Eryani also called on the international community as well as the UN and US envoys to Yemen to condemn the Houthis’ terroristic actions, which were aimed to destabilize regional and international security and maritime navigation.
Meanwhile, the KSrelief Center’s Demining Project in Yemen (MASAM) has defused 1,500 landmines and unexploded ordnances in the past week.
MASAM’s technical teams managed to remove 6 anti-personnel, 1,067 anti-tanks landmines, 483 unexploded explosive ordnances and one explosive device.
The landmines were rigged by Houthi fighters in different parts of Yemen, the center said.