Latest news with #Europe-MiddleEast-Africa
Fashion United
6 hours ago
- Business
- Fashion United
SMCP H1 sales increase by 2.7 percent
Sales for the prêt-à-porter group SMCP, parent company of Sandro, Maje, Claudie Pierlot and Fursac, increased by 2.7 percent in the first half of the year to 601 million euros. Growth occurred in all geographical areas except Asia. This "solid" performance, especially in the US, was "remarkable" in a market that remains "uncertain and demanding", commented chief executive officer Isabelle Guichot during a press conference on Tuesday. The Asia Pacific region recorded a 9 percent drop in sales. These results are explained by the "optimisation of the store network carried out in 2024", according to the press release, notably in China, said Guichot. Guichot praised the "promising beginnings in new countries such as India, Indonesia and the Philippines". Turnover in France increased by 2.3 percent. Sales in the Europe-Middle East-Africa zone (excluding France) increased by 6.3 percent and those in the Americas region by 10.3 percent. By brand, Sandro led sales (plus 3.4 percent) followed by Maje (plus 2.5 percent). The other two brands (Claudie Pierlot and Fursac) recorded a combined increase in their sales of 0.6 percent. SMCP returned to profit, with a net profit of 11 million euros compared to a loss of 27.7 million euros in the first half of 2024. The group attributes this "good momentum" in particular to the rationalisation of its store network. This was achieved by opening stores in strategic markets and closing others that were not profitable. SMCP now has 1,642 points of sale internationally, 20 fewer than at the end of December. This is also due to "strict control of its stock and investments", with stock having decreased by 13 percent in comparable half-year periods, according to the press release. When questioned by the AFP about the possible impact of Donald Trump's trade war on the group's performance in the US market, Guichot indicated that SMCP "had already hedged itself" by increasing its prices in the US as early as last April. This article was translated to English using an AI tool. FashionUnited uses AI language tools to speed up translating (news) articles and proofread the translations to improve the end result. This saves our human journalists time they can spend doing research and writing original articles. Articles translated with the help of AI are checked and edited by a human desk editor prior to going online. If you have questions or comments about this process email us at info@
News18
5 days ago
- Business
- News18
India's Edge Data Centre Capacity Set To Triple By 2027: Report
Reported By : Last Updated: July 25, 2025, 12:15 IST Currently, edge data centres account for about 5% of India's total data centre capacity. India's edge data centre industry is poised for exponential growth, with capacity projected to triple to 200-210 megawatts (MW) by 2027 from the current 60-70 MW, according to the latest report by credit rating agency ICRA. This surge is expected to be driven by the rapid adoption of emerging technologies such as the Internet of Things (IoT), 5G, augmented and virtual reality (AR/VR), and generative artificial intelligence (AI). Edge data centres are smaller, decentralised facilities located closer to end-users and devices. Unlike traditional centralised data centres, which are typically large and centralised, edge facilities enable real-time data processing with minimal latency (the delay between a user action and the corresponding system response). This makes them ideal for supporting emerging technologies such as IoT, 5G, AR/VR, and GenAI. These new-age applications and technologies are forecasted to grow significantly in the medium term, resulting in an increased demand for edge data centres. Currently, edge data centres account for about 5% of India's total data centre capacity. However, when excluding capacity used for captive purposes by a major player, the share drops to as low as 1%. ICRA expects this figure to grow significantly, with edge data centres expected to make up 8% of the total capacity by 2027. P: Projected (Source: ICRA Research) 'Edge data centres differ from traditional data centres in multiple parameters like size, location, scale, time taken to construct, capex cost per MW, and proximity to the end user," said Anupama Reddy, vice-president and co-group head (corporate ratings) at ICRA. 'In the Indian context, traditional data centres and edge data centres are complementary pillars of digital infrastructure." Reddy said India's data infrastructure will increasingly adopt a 'hub-and-spoke' model. Traditional data centres will continue to support large-scale computing and AI workloads, while edge data centres will handle real-time, location-sensitive operations in sectors such as healthcare, banking, agriculture, Defence, and manufacturing. Globally, edge data centres are estimated to account for around 10% of the total data centre capacity, which stood at 50 gigawatts (GW) as of December 2024. The United States currently dominates the global edge data centre market with a 44% share, followed by the Europe-Middle East-Africa (EMEA) region at 32%, and the Asia-Pacific (APAC) region at 24%. India remains a relatively new entrant but is expected to accelerate its adoption in the coming years. Despite a promising outlook, the growth of edge data centres is not without challenges. Security vulnerabilities are a concern due to their deployment in remote Tier II and Tier III cities. Moreover, a shortage of skilled professionals in these regions, rapid technological shifts that could render infrastructure obsolete, and interoperability issues with traditional data centres pose significant hurdles. 'Rentals for edge data centres are anticipated to be on the higher side compared to traditional data centres, as they cater primarily to retail customers, unlike traditional centres which serve enterprise and hyperscale clients," Reddy noted. 'The higher capital expenditure per MW for edge data centres is expected to be offset by these higher rentals." Swipe Left For Next Video View all ICRA also highlighted that established data centre players, as well as entities such as RailTel and telecom operators, are likely to lead India's edge data centre expansion over the next few years. As digital demand continues to rise across urban and rural India, edge data centres are set to play a critical role in ensuring faster, more efficient digital services, marking a new chapter in the country's technological advancement. Mohammad Haris Haris is Deputy News Editor (Business) at He writes on various issues related to personal finance, markets, economy and companies. Having over a decade of experience in financial journalism, Haris h... Read More Haris is Deputy News Editor (Business) at He writes on various issues related to personal finance, markets, economy and companies. Having over a decade of experience in financial journalism, Haris h... Read More Stay updated with all the latest business news, including market trends, stock updates, tax, IPO, banking finance, real estate, savings and investments. Get in-depth analysis, expert opinions, and real-time updates—only on News18. Also Download the News18 App to stay updated! view comments Disclaimer: Comments reflect users' views, not News18's. Please keep discussions respectful and constructive. Abusive, defamatory, or illegal comments will be removed. News18 may disable any comment at its discretion. By posting, you agree to our Terms of Use and Privacy Policy.
Time of India
19-07-2025
- Business
- Time of India
Dubai among top 10 costliest cities for rich in 2025: What this means for residents
Dubai rose five places to rank 7th globally in Julius Baer's 2025 Global Wealth and Lifestyle Report/Representative Image TL;DR: Dubai has surged to 7th place globally in Julius Baer's 2025 Global Wealth and Lifestyle Report, the highest rank in the Middle East. Luxury property and cars saw the steepest price increases, but inflation on everyday items remains low. The city's tax-free incentives, high-end infrastructure, and lifestyle offerings are magnets for the global elite, yet middle-income expatriates are beginning to feel squeezed by rising living costs. Dubai's rise as a global playground for the rich has taken a sharper form in 2025, with the emirate being ranked the 7th most expensive city in the world for high-net-worth individuals (HNWIs), according to the latest Julius Baer Global Wealth and Lifestyle Report. What was once a modest desert trading outpost has now solidified its image as an elite destination marked by luxury real estate, premium cars, and an ultra-modern lifestyle. This ascent comes amid increasing competition from cities like Singapore and London, yet Dubai's unique blend of tax advantages, strategic location, and visionary infrastructure continues to attract wealthy investors and professionals alike. However, for the broader expat community, this glamorous boom brings with it escalating concerns over affordability, especially in housing and schooling. Dubai's Luxury Price Surge: Property and Cars Lead the Climb Dubai's 7th-place global ranking, a jump of five positions from last year, is driven primarily by significant price hikes in residential real estate and luxury automobiles. The Julius Baer report indicates that property prices in Dubai surged by 17%, reflecting both the post-pandemic property boom and a wave of foreign investment in high-end developments. by Taboola by Taboola Sponsored Links Sponsored Links Promoted Links Promoted Links You May Like No annual fees for life UnionBank Credit Card Apply Now Undo This growth is underpinned by sustained demand from HNWIs, especially those relocating from Europe, Asia, and even the broader Middle East in search of stable and lucrative property markets. Simultaneously, the price of luxury cars climbed by 13% in the emirate, cementing Dubai's image as a city where status symbols dominate roads. With Lamborghini, Rolls-Royce, and Ferrari reporting record sales in the region, the appetite for exclusive automotive experiences is not just a trend but a cultural marker of affluence). This is further bolstered by the UAE's zero tax on personal income and capital gains, which leaves residents with more disposable income to invest in high-end purchases. How Dubai Stacks Up Globally and Regionally In the broader comparison, Singapore retained the top spot, followed by London and Hong Kong, while Dubai's ascent to 7th place places it ahead of traditionally expensive cities like Paris, Milan, and New York. Within the Europe-Middle East-Africa (EMEA) region, only London, Monaco, and Zurich outperformed Dubai in terms of luxury living costs. This positioning reflects not just price increases but also an evolving reputation. Dubai is no longer merely a tax haven or a tourism hotspot but is establishing itself as a permanent home for the ultra-wealthy, offering not just residences but a fully-fledged luxury lifestyle complete with fine dining, exclusive education, and bespoke healthcare. Dubai's demographic composition underscores its magnetism for global wealth. As of mid-2025, the city is home to over 81,000 HNWIs . This represents a doubling of the millionaire population over the past decade, a trajectory driven by consistent foreign direct investment, particularly in real estate, finance, and technology sectors. Strategic Policies That Attract the Elite Dubai's ascent isn't accidental but rather the result of strategic policy frameworks designed to lure global wealth. The UAE government has implemented several initiatives, including the Golden Visa, Property Investor Visa, and Entrepreneur Visa, all of which provide long-term residency without the need for local sponsorship. Additionally, Dubai's zero tax on personal income, expansive Dubai International Financial Centre (DIFC), and a highly developed luxury market spanning private schools, top-tier medical facilities, and exclusive entertainment options create an ecosystem tailored to the elite. The city's ability to seamlessly combine Western-style comforts with Middle Eastern hospitality further enhances its appeal among affluent migrants from Europe, India, and China. The Other Side: Expats Face Cost Pressures Yet, amid the glitter, the less wealthy expatriate population is increasingly burdened by the city's escalating cost of living. According to Mercer's 2024 cost-of-living data, the cost of living in Dubai has seen a rise since 2024, raising 3 ranks from 18th to 15th. Social media platforms are filled with expatriates sharing concerns about affordability, with users reporting difficulties in maintaining previous standards of living due to stagnant wages contrasted with rising housing, education, and healthcare costs. This economic dichotomy could shape the social landscape in the years ahead, potentially creating a more segmented urban society. What This Means for Dubai's Economic Future The rapid growth of the millionaire population is reshaping Dubai's urban and economic development plans. As per Knight Frank's report, real estate transactions among HNWIs in Dubai reached an estimated USD 4.4 billion in 2024, representing a 76% year-on-year increase. These trends are likely to continue as Dubai gears towards its 2040 Urban Master Plan, which seeks to balance high-density luxury living with sustainability and infrastructure expansion. However, experts caution that unless mid-tier salaries rise or affordable housing projects gain momentum, Dubai risks alienating a vital segment of its workforce essential for its service-driven economy. Balancing ultra-wealth attraction with broad-based affordability could be the emirate's next big policy challenge. Dubai's leap to the 7th most expensive city globally for the wealthy underscores its remarkable transformation into a top-tier luxury hub. Through policy precision, infrastructure investments, and a calculated courting of the global elite, the city continues to redefine its global status. Yet, this glittering ascent comes with trade-offs, especially for the middle-class residents navigating an increasingly costly urban life. For Dubai to maintain its sheen, a sustainable path that caters to both ends of the wealth spectrum will be key.
Business Recorder
16-07-2025
- Business
- Business Recorder
Goldman Sachs profits jump on gains in advisory services, trading
NEW YORK: Goldman Sachs reported a jump in second-quarter profits Wednesday behind significant increases in financial advisory revenues and in its equities trading business. The big US investment bank scored a 20 percent increase in profits to $3.5 billion compared with the year-ago period, easily topping analyst expectations. Revenues rose 15 percent to $14.6 billion. Goldman said increases in advisory fees reflected strength in the Americas and the EMEA (Europe-Middle East-Africa) regions. Its investment banking fees backlog rose compared with the end of the first quarter, suggesting more mergers and acquisitions and initial public offerings lie ahead. Bankers had been bullish on dealmaking after Donald Trump's victory in the November 2024 presidential election. But in the first quarter, investment banks described dealmaking activity as having been backburnered as the White House focused on fast-changing trade policy. Executives at rival financial services companies expressed hopes on Tuesday for more deals, with clients opting to charge ahead in spite of tariff uncertainty. In its markets division, Goldman's gains were particularly pronounced in equities, where it enjoyed significantly higher revenues in equities financing and equities 'intermediation,' where Goldman acts as a middleman between two parties in a transaction. These increases helped to offset lower revenues in Goldman's Asset and Wealth Management business. Chief Executive David Solomon expressed measured optimism on the economy. 'At this time, the economy and markets are generally responding positively to the evolving policy environment,' he said in Goldman's press release. 'But as developments rarely unfold in a straight line, we remain very focused on risk management.' Shares of Goldman Sachs rose 1.2 percent in pre-market trading.
Time of India
16-07-2025
- Business
- Time of India
Goldman Sachs Q2 earnings: Profit jumps 20% to $3.5 billion on advisory & equities boost; revenue up 15% to $14.6 billion
Goldman Sachs posted a 20% year-on-year jump in net profit for the second quarter of 2025, reaching $3.5 billion, driven by robust gains in its financial advisory business and equities trading division, news agency AFP reported. Total revenue for the quarter rose 15% to $14.6 billion, with the investment banking giant topping analyst expectations. Goldman attributed the increase in advisory fees to strong performance in the Americas and EMEA (Europe-Middle East-Africa) regions. Its growing investment banking fee backlog signalled a likely uptick in mergers, acquisitions, and initial public offerings. Bankers have become more bullish on dealmaking since Donald Trump 's victory in the November 2024 presidential election. However, in the first quarter, activity had slowed as the White House focused on evolving trade policies. Executives across rival financial services firms have now expressed hopes for stronger deal momentum despite ongoing tariff uncertainty. In its markets division, Goldman reported particularly strong performance in equities—specifically in equities financing and intermediation, where the bank acts as a go-between for clients—offsetting weaker revenue from its Asset and Wealth Management segment. by Taboola by Taboola Sponsored Links Sponsored Links Promoted Links Promoted Links You May Like The Most Successful Way of Intraday Trading is "Market Profile" TradeWise Learn More Undo Commenting on the broader outlook, Goldman Sachs CEO David Solomon said, 'At this time, the economy and markets are generally responding positively to the evolving policy environment. But as developments rarely unfold in a straight line, we remain very focused on risk management.' Shares of Goldman Sachs rose 1.2% in pre-market trading, AFP noted. Stay informed with the latest business news, updates on bank holidays and public holidays . AI Masterclass for Students. Upskill Young Ones Today!– Join Now
