Dubai-listed insurer Salama appoints new CEO
Mohamed Ali Boubane, formerly of New York-based insurer AIG, has been appointed subject to Central Bank approvals.
(Writing by Imogen Lillywhite; editing by Daniel Luiz)
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Campaign ME
an hour ago
- Campaign ME
Marketers react to American Eagle's Sydney Sweeney ad: Virality vs. value
If there's one topic that absolutely every marketer seems to have an opinion on at the moment – whether spoken out loud, or silently in coffee huddles, or not verbalised but constantly thought about – it's New York Stock Exchange-listed American Eagle Outfitters' Sydney Sweeney campaign. The discussions brought back the age-old debate about how marketing campaigns ought to be judged and measured – whether success is purely based on business outcomes, brand sentiment and brand lift studies, or its social impact and effectiveness in terms of moving the needle on purpose-led conversations? At the time of writing, American Eagle shares had climbed 17 per cent since the July 23 launch of the Sydney Sweeney ad campaign, raising the apparel retailer's stock to $12.58, marking a 23.94 per cent lift month on month and sending the brand's market capitalisation soaring to $2.2bn. However, data that drives past financial milestones shows a potential reputational and brand hit, with foot traffic falling 9 per cent year-on-year for the week of August 3 to August 9, a considerable drop considering a 4 per cent decline in foot traffic the previous week, according to data shared by retail market intelligence company pass_by. Although American Eagle's mention volume rose 18 times higher following the campaign launch, according to Signal AI data, its sentiment toward the brand plummeted from +50 to -31. Meanwhile, data and insights company Consumer Edge reported that traffic to American Eagle's US website bumped up more than 60 per cent on July 28, compared with the same day the previous year, closing off the first week of the campaign's launch on a high, although several other reports indicate that sales haven't risen considerably year on year, the brand has reportedly recorded more than $2mn in sales already. Campaign Middle East kept a close eye on how brand and marketing leaders in the region have reacted, sharing their opinions on various social media channels. Here's a brief compilation of some of their thoughts: Hubert Boulos, Founder of Das Kapital, said: (sic) 'Ok loads of interpretations, like ' is this the end of woke-ism?' etc.. in the end it's just a funny clever idea that built business beyond imagination: genes sound like Jeans , a celebrity and boom… sales through the roof ( it increased the market capitalization of the brand by 400 Million USD in one day!)That's why the algorithm hates advertising… it beats it anytime and it's not even close. This is clever and light yet it did wonders. Just imagine campaigns with a little bit more creativity and depth… Ideas do actually work!' Marwa Kaabour, Group Marketing and Corporate Communications Director, Al Masaood, said: 'We've seen this before. Brands chasing attention, not intention. Provocation over purpose. And it shows. Advertising can be funny. Yet, it can even be polarising. But it must, at the very least, be aware. Aware of timing. Aware of tone. Aware of the cultural moment we're all living in. Not this jeans, not for me, not for many. There's something profoundly unsettling about American Eagle's latest campaign featuring Sydney Sweeney — and no, it's not just the awkward wordplay. Let's forget the controversy for just a second. Strip it back to the core idea. Even then — it doesn't hold. It's not that the campaign is offensive by design. It's that it's creatively thin. A hollow concept dressed up in celebrity gloss. A tagline that leans on legacy ideals of beauty and genetics. And a moment of silence where cultural insight should've been.' Mazen Hayek, an advisor to senior officials and C-suite executives in the region, pointed out how American Eagle 'doubled down on its controversial ad campaign'. He said, 'American Eagle's ad featuring actress Sydney Sweeney has ignited a new brand-driven culture war about beauty standards, race and representation. While the campaign first went viral on social media, it also garnered coverage in roughly 3,000 news articles. Those generated more than 50 million readers, according to Memo readership data shared with Axios.' Fatima Shaikh, Director – Strategy, Content and Innovation – AI, Radix Media MENA, highlighted viewpoints of many others who sat on the fence, saying, 'For once, I don't seem to have an opinion. Not sure if it was good or bad. Well intended or cheeky. Smart or just bizarre.' Globally, Chelsea Burns, CEO, The Marketing Psychologist, shared, 'The campaign was engineered for outrage. Not resonance. Not representation. But reactivity. And that's exactly what happened. Over 200 million impressions in 48 hours. A dopamine spike for the brand. A cortisol crash for the audience. But here's the thing: 📉 Attention doesn't equal alignment. 📉 Nostalgia doesn't equal trust. 📉 And virality doesn't equal value.' Sharing a directly opposing viewpoint to 'virality doesn't equal value', Rhonda Swan, CEO, The Unstoppable Branding Agency, said, 'Virality beats vanilla. Was it controversial? Absolutely. Was it intentional? No question. Was it genius? 100 per cent. American Eagle didn't just drop a campaign … they dropped a cultural bomb. And it worked: ✅ $2M+ in sales ✅ Thousands of shares, stitches, and headlines ✅ Everyone talking…whether they loved it or hated it They didn't sell jeans. They sold attention. They sold a moment. They sold emotion …and the world clicked, commented and converted.' The jury's still out on whether the marketing world is going to reach a consensus. If you've got an opinion and would like it to be added into this article, drop us an email.
Khaleej Times
2 hours ago
- Khaleej Times
Dubai: Mosques, Eid prayer grounds to get upgrades under new agreement
Mosques and prayer grounds in Dubai are set to undergo upgrades, as a new strategic agreement has been signed in the emirate's government. The Dubai Municipality and the Islamic Affairs and Charitable Activities Department in Dubai (IACAD) signed the agreement in order to: Overhaul the infrastructure of religious facilities Preserve heritage mosques Enhance the design of Eid prayer grounds Improve the management of funeral and cemetery services Stay up to date with the latest news. Follow KT on WhatsApp Channels. Heritage mosques Under the agreement, a unified vision for the design and construction of mosques will be established. The authorities aim to also preserve cultural, religious, and architectural heritage. Dubai Municipality will restore and maintain heritage mosques and IACAD will manage their operations, including providing imams, muezzins, preachers, religious programmes, and daily cleaning services. Dubai Municipality will review and simplify relevant procedures, expedite permit approvals, and incorporate IACAD's approved engineering, planning, and construction standards into the Dubai Building Code. Temporary prayer facilities will be established for on-site workers, and donors will be encouraged to support mosque construction using advanced 3D printing technology. Funeral and cemetery services Dubai Municipality will also develop and upgrade mortuary washing facilities. IACAD will oversee all Shariah-related aspects, including appointing staff for washing, shrouding, and burial, training personnel, licensing mortuary washers, issuing permits for volunteers, and ensuring full compliance with religious procedures. Marwan Ahmad Bin Ghalita, Director General of Dubai Municipality, said that the partnership strengthens the entities' efforts to provide high-quality services and enhance quality of life while "preserving the authentic character of historic mosques and prayer sites." Ahmed Darwish Al Muhairi, Director General of IACAD, said, "Our goal is to create spaces that embody Islamic values, preserve heritage, and serve all segments of society.' Eid prayer grounds The agreement also includes improvements to Eid prayer grounds. Dubai Municipality will undertake beautification works, issue permits and develop the grounds according to an upgraded model that includes facilities for commercial outlets and required construction features. IACAD will operate the grounds, provide administrative support, and monitor operations. This agreement is set to deliver high-quality, sustainable religious facilities and support social activities that uphold Islamic values.
Zawya
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Al Salam Bank announces record profits for H1 2025
Manama-Bahrain – Al Salam Bank (Bahrain Bourse Trading Code 'SALAM', Dubai Financial Market Trading Code 'SALAM_BAH') announced net profits attributable to shareholders of USD 98.2 million for the six-month period ended 30 June 2025 ('H1 2025'), reflecting an increase of 30.9% from USD 75.0 million in H1 2024, and a return on equity of 16.9%, up from 15.6% in the previous year. This increase in profitability was predominantly driven by the strong performance of the Group's core banking operations. Correspondingly, earnings per share increased by 29.0% to USD 31.8 cents in H1 2025, compared to USD 24.7 cents in H1 2024. During the first half of 2025, the Group successfully executed a wide range of optimization initiatives to enhance its operational efficiency which was evident in the reduction noted in the cost-to-income ratio during the period from 49.9% in H1 2024 to 45.3% in H1 2025. The Group's balance sheet sustained its upward momentum, with total assets rising by 10.8% to USD 20.76 billion in H1 2025, up from USD 18.73 billion in 2024. Financing assets increased by 8.3% to USD 10.52 billion, while customer deposits grew to USD 14.07 billion, recording a growth of 7.1% from USD 13.14 billion as at 31 December 2024. Total shareholders' equity increased by 11.7% to USD 1.07 billion in H1 2025 compared to USD 956.2 million as at 31 December 2024, supported by the net profit recorded during H1 2025 as well as the successful closing of several key capital building initiatives including the Bank's USD 450 million Additional Tier 1 (AT1) capital issuance. Consequently, the Group achieved a strong capital adequacy ratio of 25.2% as of 30 June 2025, up from 24.8% achieved in 2024. Commenting on the results, His Excellency Shaikh Khalid bin Mustahail Al Mashani, Chairman of Al Salam Bank, said: 'Building on the strong momentum set in the first quarter of 2025, Al Salam Bank sustained consistent growth across its core operations despite the turbulent geopolitical and economic landscape. As global markets remain volatile and opportunities emerge in the region, our ability to adapt and perform with resilience has been a defining strength. We remain focused on long-term value creation, underpinned by strong fundamentals, disciplined risk management, and a forward-looking strategy for sustainable growth in the second half of the year.' Rafik Nayed, Group Chief Executive Officer of Al Salam Bank, added: 'Our H1 2025 results demonstrate the resilience and adaptability of our business model. We have advanced our strategic priorities by improving our operational efficiency, investing in digital innovation and reinforcing our regional capabilities with ASB Capital. Looking ahead, we will continue to deepen client relationships and pursue opportunities across banking and asset management to fuel long-term, diversified growth.' The full set of financial statements, reviewed by external auditors KPMG, is available on the Bahrain Bourse and Dubai Financial Market websites.
