Latest news with #businessdeals
Zawya
24-07-2025
- Business
- Zawya
Saudi business delegation arrives in Syria; deals worth $4bln to $6bln seen being signed
RIYADH: Saudi Arabia's investment minister led a business delegation travelling to Syria on Wednesday, where they were expected to sign deals worth $4 billion to $6 billion as part of Riyadh's efforts to support the country's post-war recovery. The Gulf kingdom has been a crucial supporter of interim President Ahmed al-Sharaa's government, which came to power after toppling longtime ruler Bashar al-Assad in December and is now seeking to rebuild Syria after a 14-year civil war. Saudi Investment Minister Khalid bin Abdulaziz Al-Falih, who brought around 130 Saudi businesspeople to Damascus, is set to hold meetings with Syria's leadership ahead of a two-day investment conference opening on Wednesday, according to people due to attend. Syrian Information Minister Hamza al-Moustafa said at a press conference on Wednesday that Syria will sign 44 agreements with Saudi Arabia estimated to be worth nearly $6 billion. The agreements cover various sectors, including energy, telecommunications, financial and banking, investment funds and others, the minister said. Some of the agreements will be signed between the government and private companies, he said. Saudi state-run Al Ekhbariya television reported on Tuesday that the agreements to be signed between Damascus and Riyadh would be worth over $4 billion. During his visit to Syria, Saudi Arabia's Al-Falih and his Syrian counterpart launched a cement factory project on Wednesday in Adra Industrial City in the Damascus countryside, the first white cement production project in the country, with an investment worth $20 million, Syrian state news agency SANA said. Al-Falih also broke ground on an integrated retail project by Saudi investment firm Ethraa Holding that is worth 375 million riyals ($99.96 million) in investments. Saudi Arabia has shown interest in Syria's energy and hospitality sectors, as well as airports, a diplomat and a Syrian businessman familiar with the matter told Reuters. The two countries are also expected to launch a joint business council, said the Syrian businessman. The investment conference had initially been scheduled to take place in June, but was delayed due to the war between Iran and Israel. It is going ahead this week despite sectarian clashes in Syria's southern city of Sweida that have left hundreds dead. The violence is a reminder of the lingering instability in Syria, even as foreign investors explore opportunities. Companies, many from Gulf states and Turkey, have expressed interest in rebuilding Syria's power generation capacity, roads, ports and other damaged infrastructure. Syria has signed a $7 billion power deal with Qatar and an $800 million agreement with UAE-based port company DP World in recent months. U.S. energy firms are also set to draw up a master plan for the country's energy sector. For its part, Saudi Arabia, along with Qatar, paid off Syria's World Bank arrears, opening the possibility of new lending. Syria's al-Sharaa made his first trip abroad as president, to Saudi Arabia in February. And the kingdom's Crown Prince and de-facto ruler Mohammed Bin Salman successfully lobbied U.S. President Donald Trump to lift sanctions seen as holding back private investment. ($1 = 3.7516 riyals) (Reporting by Timour Azhari in Beirut; Additional reporting by Yomna Ehab and Menna Alaa El-Din in Cairo; Writing by Pesha Magid; Editing by Joe Bavier and Leslie Adler)
Zawya
23-07-2025
- Business
- Zawya
Saudi business delegation arrives in Syria eyeing $4bln in deals
Saudi Arabia's investment minister led a business delegation travelling to Syria on Wednesday, where they were expected to sign deals worth around $4 billion as part of Riyadh's efforts to support the country's post-war recovery. The Gulf kingdom has been a crucial supporter of interim President Ahmed al-Sharaa's government, which came to power after toppling longtime ruler Bashar al-Assad in December and is now seeking to rebuild Syria after a 14-year civil war. Saudi investment minister Khalid bin Abdulaziz Al-Falih, who brought around 130 Saudi businesspeople to Damascus, is set to hold meetings with Syria's leadership ahead of a two-day investment conference opening on Wednesday, according to people due to attend. Saudi Arabia has shown interest in Syria's energy and hospitality sectors, as well as airports, a diplomat and a Syrian businessman familiar with the matter told Reuters. The two countries are also expected to launch a joint business council, said the Syrian businessman. The investment conference was initially scheduled to take place in June but was delayed due to the war between Iran and Israel. It is going ahead this week despite sectarian clashes in Syria's southern city of Sweida that have left hundreds dead. The violence is a reminder of the lingering instability in Syria, even as foreign investors explore opportunities there. Companies, many from Gulf states and Turkey, have expressed interest in rebuilding Syria's power generation capacity, roads, ports and other damaged infrastructure. Syria has signed a $7 billion power deal with Qatar and a $800 million agreement with UAE-based port company DP World in recent months, while U.S. energy firms are also set to draw up a master plan for the country's energy sector. For its part, Saudi Arabia, along with Qatar, paid off Syria's World Bank arrears, opening the possibility of new lending. Syria's al-Sharaa made his first trip abroad as president to Saudi Arabia in February. And the kingdom's Crown Prince and de-facto ruler Mohammed Bin Salman successfully lobbied U.S. President Donald Trump to lift sanctions seen as holding back private investment.
Fast Company
14-07-2025
- Business
- Fast Company
What happened at Sun Valley 2025?A roundup of the biggest news and deals
This weekend, dozens of CEOs, tech tycoons, and billionaires packed their bags and jetted out of Sun Valley, Idaho, after the annual four-day Sun Valley conference (nicknamed ' summer camp for billionaires ') came to a close. Hosted by the investment banking firm Allen & Co., the conference is essentially a yearly opportunity for some of the world's most influential businesspeople to rub elbows and talk shop over scenic mountain views. Aside from giving its attendees a chance to break out their best polos and khakis for an expectant clutch of paparazzi, the secretive retreat has also served as the site of some of the most significant deals in the past four decades. Those include Disney's acquisition of ABC in 1995, Google's acquisition of YouTube in 2006, and Amazon founder Jeff Bezos's purchase of The Washington Post in 2013. This year's star-studded cast included OpenAI's Sam Altman, Apple's Tim Cook, and Microsoft's Satya Nadella, to name a few. Here's everything we know about the 2025 conference so far: Skydance discusses purchase of 'The Free Press' According to a report from The New York Times, one potential deal on the table at this year's gathering was an acquisition of the online publication The Free Press by the media company Skydance. David Ellison, Skydance's CEO, attended the conference alongside Bari Weiss, cofounder of The Free Press. Sources close to the discussion told The Times that Ellison has previously offered Weiss a 'wide variety of options' in terms of potential working arrangements were Skydance to purchase The Free Press —including one scenario in which Weiss would take a major role in shaping the editorial direction of CBS News. Still, no official agreement has been announced, and The Times did not learn the terms of any potential deals. Fast Company reached out to Skydance and The Free Press for comment. In the meantime, Ellison is also in the midst of attempting to close a proposed merger with Paramount. Disney looking to sell A&E Global Media On July 8, just before the start of this year's Sun Valley conference, Disney and Hearst, co-owners of the cable network A&E Global Media, announced that they were looking to sell the network. The news follows a larger trend of media companies like Comcast and Warner Bros. Discovery spinning off their respective cable networks in an attempt to purge underperforming arms of the business, as traditional pay TV continues down a path of rapid decline. It's quite a turn from just a few years ago, when media companies were opting to acquire their rivals in what Variety has called an 'arms race' to compete with streaming competitors. In the wake of the news that A&E is seeking a new buyer, Disney CEO Bob Iger attended Sun Valley alongside media moguls including Comcast head Brian Roberts, Sony Pictures Entertainment CEO Ravi Ahuja, and Warner Bros. Discovery head David Zaslav. One topic was top of mind At the end of the conference, Business Insider caught up with Flowcode CEO Tim Armstrong, who has attended Sun Valley annually for more than a decade. Armstrong shared that, unsurprisingly, this year's hottest topic of discussion was AI. It was the '1,000-pound gorilla' in 'every conversation, every meeting,' Armstrong told the publication, adding that executives spent a good chunk of the retreat sharing their ideas on how to implement new AI tools. The year of weird sunglasses and Western cosplay While the general public waits to hear more details about deals made behind closed doors at this year's conference, there is one element of the retreat that the average American had full access to: the fashion. This year, like the years before it, saw an excess of bland polo shirts, jeans, ball caps, and button-downs. In an interview with Fast Company, L.A.-based personal stylist Mary Komick explained that 'quiet luxury' is the generally accepted dress code at Sun Valley, with execs opting for neutral shades and understated cuts. 'They're showing off to each other, with their stealth luxe style noticeably recognized by those in these circles,' Komick noted. Still, there were a couple of new trends to emerge this year. Ivanka Trump and Spanx founder Sara Blakley both opted for Western-inspired accessories, while several other attendees stepped out in simple outfits accented with over-the-top sunglasses, including Altman (who donned a $400 pair of sunnies inspired by '70s ski masks) and Ferrari chairman John Elkann (who wore a vintage pair of Tom Fords that were chunky enough to resemble an Apple Vision Pro).
Yahoo
09-07-2025
- Business
- Yahoo
Kevin Jonas Lost ‘Almost All' of His Money After the Jonas Brothers' 2013 Breakup
Kevin Jonas opened up about his financial journey following the Jonas Brothers' split in 2013 The singer appeared alongside his brothers on Lewis Howes' 'The School of Greatness' podcast where he confessed that he almost lost all of his money Kevin said his financial troubles came as a result of business deals that weren't the "right partnership"Kevin Jonas is opening up about losing "almost all" of his money following the Jonas Brothers' split. Kevin, 37, appeared on Lewis Howes' 'The School of Greatness' podcast alongside his brothers Nick Jonas, 32, and Joe Jonas, 35, on Monday, July 7. They discussed how they found what truly matters in life in the midst of losing everything. Kevin confessed on the podcast that he made a series of business deals in his younger years that ultimately led to him losing almost everything. 'I've seen the beginning of the success to financial success — not knowing what money really was and understanding it — to not having [it], to losing almost all of it,' Kevin told the podcast host. Howes, 42, reacted with surprise to Kevin's confession, asking if he really almost lost all of his money. 'Yeah, most of it, like, down to the one 10 percent left.' the oldest of the Jonas brothers responded. The financial troubles came about nine years ago as a result of a bad partnership, Kevin said. 'I invested in a bunch of property and doing other things and I was building at the time,' the singer said before continuing. 'Sadly, it wasn't the right partnership, if you know what I'm saying' Kevin then stopped himself from elaborating, saying that he couldn't share any more details. He did add, though, that he 'learned a lot of lessons' from the experience. 'Thankfully for life in general, like we had a second shot and bite at the apple with the band coming back together,' Kevin said, continuing. 'It was kind of fortuitous in a way.' Kevin said he was able to reevaluate and apply those difficult financial lessons the second time around, and it changed the way he thinks about the music business. The Jonas Brothers experienced a whirlwind of success beginning in 2005, when they embarked on their first tour. They released their debut album It's About Time in 2006 and starred in Disney's Camp Rock in 2008. But in 2013, the brothers called it quits. "When it ended it was not good," the youngest Jonas Brother said in an interview with Z100 in 2019. "It was a couple years of rebuilding our family, and in our mind it seemed impossible for us to do this ever again." The band split for five years and during that time they worked on their own personal projects. Kevin followed his entrepreneurial pursuits, which included creating a company called The Blu Market, providing social media influencers with strategic support. He also invested in the tech world, helping create the restaurant-finding app Yood and becoming a partner of social media app We Heart It. Then, in 2019, the brothers announced their comeback on James Corden's Late Late Show. Their album, Happiness Begins, was later released in June of that year, along with a documentary detailing the band's history. According to Kevin, making the Amazon Prime Video film, Chasing Happiness, was part of their healing process. "[It] was great because we had to have real conversations and not hold back," Kevin said, comparing the production to therapy. "So for us, it worked out in a good way." Read the original article on People
Yahoo
09-07-2025
- Entertainment
- Yahoo
Kevin Jonas lost 'almost all' his fortune
Kevin Jonas lost "almost all" of his fortune when the Jonas Brothers were on hiatus. The 37-year-old singer - who began his career in 2005 - admitted he has gone through highs and lows with his finances, and things were particularly bad when the Sucker hitmakers were on a break from 2012 to 2019. Speaking to Lewis Howes on The School of Greatness podcast, he said: 'I've seen the beginning of the success to financial success — not knowing what money really was and understanding it — to not having [it], to losing almost all of it." Kevin attributed the lost of his wealth to a number of "bad business deals' that took place around 'nine years ago.' Lewis asked: 'You almost lost all your money?' His guest clarified: "Yeah, most of it, like, down to the one 10 percent left.' Kevin explained he had 'invested in a bunch of property' but 'sadly' it just 'wasn't the right partnership.' However, the Camp Rock star - who has daughters Angelina, 10, and Valentina, eight, with wife Danielle - suggested he couldn't speak about the situation for legal reasons. He said: "I can't really get too much into it.' During the group's hiatius, Kevin formed a residential development company, JonasWerner, which built custom mansions within a commuting distance of Manhattan, invested in a food app called Yood and partnered with a new tech venture, We Hear It. The Jonas Brothers, which also includes Kevin's younger siblings, Joe, 35, and Nick, 32, reformed in 2019 and Kevin has learned a lot from the difficult times. He said: 'I learned this lesson — never wanted to learn it, but I did. 'But then, at the same time, reevaluated how to approach life and — from that perspective, and look into the future. At the same time, I was able to really feel honoured that we could have a second shot at it.' Kevin's brothers were also on the podcast, and Joe admittted he and his siblings needed to learn to "trust" one another again before the group could get back together. He said: 'We all had to go figure out creatively what we could do on our own. We call it a break-up, but we had no intent of getting back together. 'There was too much under the rug to roll up … We had to trust each other a bit more with being, like, 'Actually, you are good in this band. You are talented. All of us and for different reasons.'' Ultimately, he realised: 'We can all share the spotlight, we could all share the studio, and we could all share songwriting, and we could all share money.'
