Riyadh-based Ninja achieves unicorn status with a new funding round, led by Riyad Capital. The three-year-old venture taps into demand for quick-delivery consumer goods across the Kingdom, as well as neighboring Qatar, Bahrain, and Kuwait. Its at-hand products include potato chips and blueberries, as well as milk and laundry detergent, […]
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Hong Kong Becomes an IPO Crossroads
In the business of initial public offerings, the global market may be faltering, but primary listing activity in Hong Kong is buoyant. We can point to market-specific factors for this divergence, but we wonder if there is a single overarching theme in play. Could corporate issuers be rewarding Beijing for […]
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Colored Diamonds Bring New Focus to the Gemstone Industry
The Natural Diamond Council focuses on colored diamonds to differentiate natural stones from lab-grown ones. Buoyant auction prices for vivid and intense stones—supported by global economic turmoil—draws further attention to this segment of the business. As the trade group for major players, including De Beers and Petra, the Natural Diamond […]
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Consumer Gold Focus Is Leading Price Indicator
Americans are going bonkers over gold, both on the supply and demand side. Many are digging deep into their family vaults to sell heirloom pieces as scrap, while others are hoarding gold over anxiety and fear. The net impact is a frenzy of activity in the retail market that has […]
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New Aga Khan Inherits Estate Worth $13 Billion
Aswan, Egypt was busier than usual in February, when the Aga Khan IV, spiritual leader of Ismaili Muslims, was buried there in the family mausoleum. Prince Karim Al-Hussaini Aga Khan died at the age of 88 on February 4. His final resting place, a distinctive pink-granite structure overlooking the Nile, […]
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With Ceasefire Agreement, Traffic Starts to Rebound on Suez Canal
Commercial shipping between the Mediterranean and Indian Ocean begins to see more normal patterns, as once-looming Houthi rebels suspend their unconventional, if not deadly, toll practices at Bab al-Mandab. The head of the Suez Canal Authority affirms that as many as 50 vessels adjusted their itineraries to pass through the […]
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American Consumers Brace for Tough Road Ahead
The humble egg becomes a beacon for the US economy. Of course, egg shortages can be explained by looking at the impact of the avian flu. Purchase restrictions at some grocery stores, though, trigger memories of pandemic frustrations, helping to undermine consumer confidence. Egg surcharges at Waffle House and Denny’s […]
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White House Turbo-Charges Gold Market
Mark Bristow, the CEO of Barrick Gold, may know a thing or two about political volatility. While the mining company is based in Toronto, he is South African by heritage. “Very clearly the market is telling you there is only one reserve currency in this world, and that is the […]
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Congress Wants the Army to Collect More Open-Source Intelligence
Capitol Hill has an idea to save money. This year’s National Defense Authorization Act—which designates the Pentagon’s budget and expenditure—suggests that the Army may want to assign a program executive office to gather open-source intelligence. The assumption verges on the audacious. Is Congress suggesting that publicly-available material may be better […]
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Netflix Goes Shopping
With almost $10 billion in cash on hand and a voracious appetite for content, Netflix is positioned to inject fresh life into proven genres and rescue flailing productions. The streamer may not have as much gargantuan spending power as Amazon or Apple, but its business interests are singularly focused on […]
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