Investcorp Announces Sale of Citykart to TPG NewQuest and A91
Investcorp's India private equity strategy targets asset-light opportunities across consumer & retail, healthcare, financial services, B2B and technology. Its active Indian holdings include Global Dental, Wakefit, Canpac, Xpressbees, Zolo, Freshtohome, Intergrow Brands, Unilog, V-Ensure, and the buy-out of NSE IT, rechristened NuSummit among others, demonstrating Investcorp's commitment to scaling high-growth businesses while realising timely liquidity for investors.
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Al Bawaba
a day ago
- Al Bawaba
Apple and Amazon Earnings in Focus Amid Market Pressures and AI Expectations
As the tech world awaits two of the most anticipated earnings announcements this week, Apple and Amazon are firmly in the spotlight. Both companies face high investor expectations amid shifting economic dynamics and intensifying competition in the artificial intelligence (AI) A Pivotal Quarter AheadApple's stock has fallen roughly 15% year-to-date, placing added importance on its upcoming earnings results. Investors are closely watching for updates on consumer demand, supply chain resilience, and the company's approach to emerging pressing concern is the new U.S. import tariffs on China-made devices, which analysts estimate could shave off approximately $900 million from Apple's profits this quarter. To offset the impact, Apple has been accelerating its manufacturing diversification, shifting production to India and Vietnam. Additionally, Apple's pricing power—evident in its 47% gross margin last quarter—may provide a cushion, allowing it to pass on higher costs without significantly denting Wall Street will be listening for clarity on Apple's AI roadmap. The company offered limited insight into generative AI at its June developer conference, raising concerns about falling behind rivals. Analysts will be eager for updates on AI integration into Siri, new on-device features, or potential AI investments. While Apple has historically adopted a privacy-first, cautious stance on AI, signs of acceleration would be a welcome signal for Gilbert, Market Analyst at eToro, said: Outside of AI, product and service demand remains in focus. iPhone sales are forecast to reach around USD $47 billion, though ongoing weakness in China may weigh on performance. Meanwhile, recent launches—including the 11th-gen iPad and the new M4 MacBook Air—may drive stronger results for the Mac and iPad segments. Any updates around the upcoming iPhone 17 will also be closely current challenges, Apple remains a major player—but may no longer be the standout of the 'Magnificent Seven' tech Cloud Power and E-Commerce ResilienceAmazon's upcoming earnings will be anchored by performance in its two core segments: Amazon Web Services (AWS) and its sprawling retail Amazon's highly profitable cloud unit, remains the engine of growth, delivering $11.5 billion in operating income last quarter with nearly 40% margins. The company's aggressive push into AI cloud services is at the center of investor attention. CEO Andy Jassy recently described demand as 'insatiable,' with the company allocating around $100 billion in capital expenditures for 2025 to expand its AI and cloud infrastructure. With Alphabet recently raising its capex, investors will be watching for a similar move from commentary on how generative AI is driving cloud usage will be critical. While early signs are encouraging, any indication of slowing growth may impact the retail side, Amazon's drive for efficiency is paying off. The company has undertaken extensive cost-cutting, laying off around 27,000 employees and restructuring its fulfillment operations. As a result, North America retail margins improved to 6.2% in Q1, up from 5.8% a year prior. Automation has been key, with over 750,000 robots now deployed across its logistics network, and further AI-driven enhancements expected to continue driving margin Prime Day results—estimated at USD $24.1 billion in U.S. online sales—suggest healthy consumer demand despite inflationary pressures. Investors will be keen to hear whether this momentum is expected to carry through the remainder of the quarter. As the world's largest cloud provider, Amazon must show it's not just keeping pace in the AI race, but setting the standard.
Jordan Times
2 days ago
- Jordan Times
EMV investment workshop focuses on driving sustainable economic growth, job creation
AMMAN — The Economic Modernisation Vision (EMV) workshops continued on Sunday at the Royal Hashemite Court with a focus on the investment sector, highlighting its role in driving sustainable economic growth and job creation, especially for youth. The workshop brought together representatives from government institutions, the private sector and civil society to review the progress achieved in the investment sector and identify priorities for the next phase of the EMV. The investment engine is a 'strategic and pivotal' pillar in supporting and achieving the objectives of the EMV by focusing its efforts on attracting local and foreign investments, improving the business environment and developing policies to accelerate the pace of benefiting from investments. It also contributes to creating an attractive investment environment in the Kingdom, which stimulates economic growth and opens wider horizons for providing job opportunities and developing productive sectors. Participants discussed Jordan's advantages, including its strategic geographical location as a gateway between Europe, Asia and Africa, bilateral investment agreements and free trade agreements (FTAs) with major markets such as the EU, the US, Arab Gulf states, Agadir and Singapore. They also pointed to providing competitive incentives in development zones, free zones, and special economic zones, as well as promising sectors with significant investment potential, such as digital economy, green hydrogen, logistics, gas, mining, industry and life sciences. The strengths of Jordan is also represented in the political stability that encourages investment, and having a young, educated, and tech-savvy workforce, in addition to enjoying the freedom to transfer capital and withdraw profits, especially that the Jordanian dinar is pegged to the US dollar. Key goals of the EMV include attracting investments worth JD41 billion (JD18 billion foreign direct investments, JD12 billion of domestic direct investment, and JD11 billion of government direct investment) by 2033. Other objectives are related to creating economic and employment opportunities to absorb more than one million young men and women in the labour market, and supporting development goals. The EMV also outlines efforts to support establishing Jordan's position as a regional centre of excellence for effective and sustainable investment, as well as enhancing Jordan's competitiveness in attracting foreign direct investment in priority sectors, such as ICT, green energy, pharmaceutical industries, tourism and logistics. The most prominent initiatives of the investment engine in the first phase include improving Jordan's rank in international indicators and reports, creating and developing new and innovative financing partnership models with the private sector, improving the investment environment in the Kingdom and developing its components. More initiatives pertain to development of an effective strategy to communicate with local and international investors, and launch an integrated promotional campaign programme, attracting and stimulating local and foreign investments, developing a comprehensive investor database, and establishing a system for managing integrated investor relations. Most prominent achievements for the investment engine for the first phase include boosting the legislative and regulatory framework that attracts investment, developing digital infrastructure and improving government services for investors, and effective promotion of quality investment opportunities. More achievements include improving investor experience and enhance post-establishment services, and boosting local and regional partnerships to implement quality projects, providing incentives and reducing investment costs, in addition to financial stimulus and revitalisation of international cooperation. Despite this progress, attendees of the workshop noted that challenges remain. Partner and General Manager of Abu-Haltam Group for Investments Iyad Abu Haltam said that the EMV has more than 350 initiatives throughout its 10-year span, noting that the progress rate in the implementation over the past three years varies between different sectors. He added: 'The progress in some sectors was less than 30 per cent, some achieved around 60 per cent, while others made a progress of 10 to 15 per cent.' The main reasons behind slow progress can be attributed to the turbulence in the region including the war on Gaza and the turbulence in the supply chain through Bab Al Mandeb Strait, Abu Haltam noted. He pointed: "We should have a proper and structured way of the dialogue between the private and the public sectors regarding any newly introduced laws or bylaws." Managing Partner of SME Investment Fund Jameel Anz said in terms of challenges: "The entire domain is challenged by a lot of factors, whether it's financing, access to finance, access to capital, access to resources, the geopolitical environment." Anz added: "SMEs do face, but sometimes at a larger scale, a higher tendency to break because of their size. At the same time, SMEs do face a challenge when it comes to corporate governance because all of these companies are friends and family based, so corporate governance is an issue." He said: "Sustainability and continuity of the companies is also an issue. So part of helping promote and sustain these companies is to help them with access to finance, help them with capacity building, moving them out of the friends and family [atmosphere] into a more corporate structure." "Solutions for SMEs are capacity building. Access to finance and corporate governance are others." Anz noted.
Jordan Times
5 days ago
- Jordan Times
JBA, Rwanda ambassador discuss forming joint business council
AMMAN — President of the Jordanian Businessmen Association (JBA) Hamdi Tabbaa on Wednesday met Rwandan Ambassador to the Kingdom James Ngango to discuss establishing a Jordan-Rwanda business council. The council aims to boost economic relations, facilitate 'deeper' business cooperation between the two countries, explore ways to expand cooperation between the private sectors of both countries and develop trade and investment exchanges, especially in priority sectors of mutual interest, according to Jordan News Agency, Petra. Tabbaa stressed the importance of building 'strategic' partnerships between businessmen in Jordan and Rwanda, calling for the need to organise "reciprocal" economic delegations to highlight promising investment opportunities in the Kingdom, particularly in the sectors of agriculture, tourism and pharmaceuticals. He also highlighted the significance of enhancing communication channels between the business communities of both countries to facilitate the exchange of expertise and enhancing cooperation. Ngango welcomed the proposal to establish a Jordan-Rwanda business council, expressing Rwanda's interest in boosting economic cooperation with Jordan. He highlighted his country's commitment to encouraging investors from both sides to explore the available investment opportunities, reinforcing the intent to expand bilateral economic ties and collaboration between the private sectors of both countries. The diplomat said that Jordan offers an attractive investment environment and encouraging incentives, while Rwanda provides a stimulating investment climate and various facilities for foreign investors. He stressed the importance of increasing the volume of trade between the two countries and providing appropriate frameworks to support cooperation. The trade volume between Jordan and Rwanda reached some $3.4 million in 2023, compared with $2.4 million in 2022, according to Petra.
