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Asharq Al-Awsat
14 hours ago
- Business
- Asharq Al-Awsat
TikTok Says to Increase Investment in Britain
TikTok plans to raise its investment in the UK, its biggest community in Europe, with the creation of 500 more jobs, the Chinese-owned social media giant announced Monday. The news coincided with the start of London's Tech Week, which sees British Prime Minister Keir Starmer welcoming some of sector's biggest firms. "TikTok's UK workforce will grow to 3,000 this year with the addition of more than 500 jobs," the company said in a statement. It added that it was investing in a new London office, set to open next year, and whose size will dwarf its current UK head office. It will take TikTok's investment in UK infrastructure to around £140 million ($190 million), the group said. Around half the UK population, more than 30 million people, use TikTok each month, making it the platform's "largest user-community in Europe", the statement added. "Whether through direct investment in jobs and innovation, or the wider economic contribution from millions of British businesses on TikTok, we're pleased to be increasing our investment and presence here in the UK," said Adam Presser, director of TikTok UK and global head of operations and trust and safety. TikTok has been in the crosshairs of Western governments for years over fears personal data could be used by China for espionage or propaganda purposes. "What underpins our continued growth is our deep commitment to safety and to creating an enjoyable and secure digital space to sustainably support creators, entrepreneurs and the wider economy, which is why we also invest significantly in safety," Presser added Monday.
Free Malaysia Today
a day ago
- Business
- Free Malaysia Today
TikTok to increase investment in UK, create 500 jobs
Around half the UK population, more than 30 million people, use TikTok each month. (AFP pic) LONDON : TikTok plans to raise its investment in the UK, its biggest community in Europe, with the creation of 500 more jobs, the Chinese-owned social media giant announced today. The news coincided with the start of London's Tech Week, which sees British Prime Minister Keir Starmer welcoming some of sector's biggest firms. 'TikTok's UK workforce will grow to 3,000 this year with the addition of more than 500 jobs,' the company said in a statement. It added that it was investing in a new London office, set to open next year, and whose size will dwarf its current UK head office. It will take TikTok's investment in UK infrastructure to around £140 million, the group said. Around half the UK population, more than 30 million people, use TikTok each month, making it the platform's 'largest user-community in Europe', the statement added. 'Whether through direct investment in jobs and innovation, or the wider economic contribution from millions of British businesses on TikTok, we're pleased to be increasing our investment and presence here in the UK,' said Adam Presser, director of TikTok UK and global head of operations and trust and safety. TikTok has been in the crosshairs of western governments for years over fears personal data could be used by China for espionage or propaganda purposes. 'What underpins our continued growth is our deep commitment to safety and to creating an enjoyable and secure digital space to sustainably support creators, entrepreneurs and the wider economy, which is why we also invest significantly in safety,' Presser added today.
Bloomberg
27-05-2025
- Business
- Bloomberg
Private Equity Targets Contested Port of Darwin
Morning. Rich Henderson here in Bloomberg's Melbourne bureau with the latest headlines... Today's must-reads: • Private equity targets Port of Darwin • Productivity reform priorities • New Zealand primes for rate cut US private equity group Cerberus Capital Management has expressed an interest in buying the lease for the Port of Darwin, which is currently owned by Chinese company Landbridge Group. The move is the latest in a politically charged commercial arrangement following the 2015 decision to sell the lease to the Chinese firm.
Argaam
20-05-2025
- Business
- Argaam
JCPDI signs SAR 100M MoU with Chinese food firm
The Royal Commission for Jubail and Yanbu (RCJY) announced that Jazan City for Primary and Downstream Industries signed a memorandum of understanding (MoU) with a Chinese company to enhance and support the development of the food industries sector in the city and to facilitate the company's investments. The company's investment will exceed SAR 100 million and will include the establishment of a factory in the animal protein zone in Jazan for the production of meat and poultry, with an export capacity exceeding 50,000 tons annually, the state-run SPA reported.
Zawya
19-05-2025
- Business
- Zawya
Egypt: SCZONE pens $15mln deal with China's GS Global Sourcing
Arab Finance: Waleid Gamal El-Dein, the Chairman of Suez Canal Economic Zone (SCZONE), inked a contract with GS Global Sourcing Co. Ltd, a Chinese company specializing in ready-made garments, according to a statement. The project will be fully self-financed, with investments totaling $15 million (EGP 751.5 million). Located in the Qantara West Industrial Zone, the facility will cover an area of 27,000 square meters, and it is expected to provide around 2,000 direct job opportunities. The project aims to produce more than 12 million pieces of ready-made garments annually, which will be fully allocated for export. This agreement follows three other contracts recently signed at a total value of $80.5 million for Chinese projects in the Qantara West Industrial Zone. © 2020-2023 Arab Finance For Information Technology. All Rights Reserved. Provided by SyndiGate Media Inc. (
