Companies

Snap shares dive 24% over impact of Apple security changes

Published

4 years ago

October 22, 2021

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Los Angeles-based online media bunch accused iPhone-producer’s new standards as it posted distressing final quarter viewpoint.

Snap lost a fourth of its worth in night-time exchange on Thursday as the web-based media bunch posted a dreary standpoint for its final quarter, accusing Apple’s new protection changes. The Snapchat parent cautioned that incomes in the approaching quarter would be somewhere in the range of $1.16bn and $1.2bn, well beneath the current agreement gauge of $1.4bn, as per S&P Capital IQ. Evan Spiegel, Snap CEO, said that since Apple presented another protection strategy among April and June, it had become hard for promoters to comprehend crusade execution, delaying incomes.

The guidelines, which Spiegel said have “overturned” the business, require applications on Apple’s App Store to get unequivocal consent from clients to follow them for promoting purposes. On a call with financial backers, Spiegel said modifying promotion foundation was a need however he was unable to say precisely what amount of time it would require to conform to Apple’s protection worldview. “This has certainly been a baffling mishap for us,” he said.

“However, I thoroughly consider the drawn out these security changes, and ensuring protection for clients of iOS . . . is something that we completely support.” He added: “We’ve surely seen some early indications of progress yet it will take a little while . . . The hidden execution of the promoting stage is still extremely amazing.”

Snap likewise posted a 57 percent ascend in incomes to $1.07bn in the three months to the furthest limit of September, missing the mark regarding its past income direction.

Overall deficits contracted 64% to $72m in the quarter. Spiegel additionally refered to more extensive macroeconomic difficulties around the Covid pandemic that influenced the outcomes, including promoters’ production network issues and work deficiencies.

Snap, whose offers were up 52% this year at Thursday’s market close, lost near 24% of their worth promptly after the declaration in late night exchanging, cleaning $28.5bn from its market value.* Meanwhile, portions of Facebook, which reports profit on Monday, fell 4.5 percent night-time. Other “super distributers” revealed more modest night-time decays: Alphabet shares were down 2.8 percent, Pinterest lost 2.9 percent and Roku was off 3.2 percent.

“Snap surrendered to the very powers that are wracking the sum of the portable promoting environment, which have been catalyzed by Apple’s protection strategy,” said Eric Seufert, a versatile advertisement innovation expert. “It appears to be logical that Facebook will report comparative business grindings on Monday.” Apple’s progressions imply that promoters presently don’t get ongoing, granular data on how their advertisements are performing, and on second thought need to hang tight 72 hours for total information.

A few spectators stressed that the effect of the progressions would be “whole-world destroying”, while others were hopeful that they would have a more safe impact. All things considered, a few publicists are tossing more cash at “place of refuge” benefits that actually offer granular information, like Android and Apple Search Ads. Facebook said last month that it had become “more diligently to quantify [the viability of ad] crusades on our foundation” and assessed it was “under-detailing iOS web changes by around 15%”.

Announcements

Royaloak launches in UAE bringing Indian design excellence to gulf

Published

3 days ago

June 29, 2025

Staff Reporter

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Royaloak Furniture, one of India’s largest organised furniture retail chains, has announced its entry into the UAE market as part of a broader international expansion strategy. With an operational history spanning over 15 years and a customer base exceeding 5 million, the brand has opened three stores in the UAE—located in RAK Mall (Ras Al Khaimah), Lulu Mall (Fujairah), and Silicon Central Mall (Dubai)—each spanning nearly 20,000 square feet.

The move comes at a time when the UAE’s furniture and home décor industry is witnessing steady growth, driven by a combination of increased real estate development, rising urbanisation, and a growing population of design-conscious consumers. According to industry estimates, the UAE furniture market was valued at approximately USD 5.1 billion in 2024 and is projected to reach USD 5.4 billion by 2033, growing at a CAGR of 4.18%.

Royaloak’s entry adds momentum to the region’s expanding mid-to-premium furniture segment. The brand is known for its “Country Collection” that showcases curated pieces inspired by American, Italian, and Malaysian designs. The company sources products from manufacturing hubs across Asia and Europe, aiming to balance aesthetic appeal with functional quality.

“Our UAE expansion is aligned with market demand and retail opportunity,” said Mathan Subramaniam, Co-Founder and Managing Director of Royaloak. “What sets us apart is a vertically integrated model—from sourcing to distribution—which ensures both product consistency and affordability. With our dedicated warehouse in the UAE, we are equipped to provide fast, reliable delivery and a localised shopping experience.”

The stores are designed to cater to a wide demographic—offering furniture for living rooms, bedrooms, offices, dining areas, and outdoor spaces, in addition to home décor and mattresses. Each outlet is supported by Arabic-speaking staff to ensure culturally attuned customer service.

In tandem with its retail footprint, Royaloak has launched a dedicated UAE e-commerce platform, while also partnering with Amazon UAE and Noon to strengthen its omnichannel presence. The brand’s UAE entry is not just an expansion strategy but also a commitment to job creation and customer-centric innovation in one of the Middle East’s most competitive retail landscapes. The company plans further expansion across the Emirates in the coming year

Announcements

UAE announces fuel prices for June 2025

Published

1 month ago

May 31, 2025

Staff Reporter

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The UAE fuel price committee on Saturday announced petrol and diesel prices for the month of June 2025.The Fuel Prices Monitoring Committee has kept the prices unchanged from the month of May.

Super 98 petrol will cost Dh2.58 a litre, compared to Dh2.58 a litre in May, while Special 95 will cost Dh2.47 a litre, compared to Dh2.47 a litre the previous month.

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E-Plus category petrol will be available for Dh2.39 a litre, compared to Dh2.39 a litre in May, while diesel will now cost Dh2.45 a litre, compared to Dh2.52 a litre the previous month.

The UAE deregulated fuel prices in 2015, aligning them with market fluctuations.

Fuel prices in the UAE are tied to movements in the global oil market, which has experienced significant volatility since the beginning of the year.

Business

BEYOND Expo 2025 kicks off in Macau with over 800 tech companies, investors and global innovators

Published

1 month ago

May 22, 2025

Michael Gomes

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Asia’s biggest technology gathering, BEYOND Expo 2025, opened its doors on Wednesday, May 21, at The Venetian Macau’s Cotai Expo, marking its fifth anniversary with the theme “Empowering Asia, Bridging the World.” Running from May 22 to 24, the event brings together over 800 companies, 25,000 visitors, and more than 800 investors from around the world.

Covering everything from AI and HealthTech to Clean Energy, Robotics, FinTech, and SportsTech, the expo offers a glimpse into the future of innovation and how it’s shaping Asia’s global tech footprint.

The expo also offers unique opportunities for UAE, Saudi Arabia, and other GCC countries to explore cutting-edge solutions in AI, HealthTech, Clean Energy, FinTech, and Robotics, all aligning closely with national visions like “We the UAE 2031” and Saudi Vision 2030.

The opening day drew a crowd of top tech minds who took part in a high-profile panel titled “What’s Next?” Speakers included Alibaba Cloud founder Dr. Jian Wang, Carl Pei, CEO of smartphone brand Nothing, Dr. Burt Guo of Sichuan Aerofugia, Zhaopeng Chen of Agile Robots, and Jingkang Liu, founder of Insta360.

The event also marked the launch of the BEYOND Founders Club (BFC), a new community that aims to connect Asia’s rising tech entrepreneurs and help shape the future of innovation. BEYOND Expo Co-Founder Dr. Lu Gang said the expo was created in 2021 to highlight Asia’s tech progress on a global stage. “We are thrilled to celebrate our fifth year with our largest lineup yet,” he said.

Co-Founder Jason Ho added, “Launching the Founders Club is a powerful step. We believe technology should serve humanity, and this community will help guide the next generation of tech leaders.”

Alongside the expo, a packed schedule of over 300 speakers will lead summits and forums on major trends and topics. These include the Global Investment Summit, AI Summit, Wealth Summit, Fashion Tech Forum, Gen-Z Founder Forum, and SHETECH Summit, among others.

Investment plays a major role at BEYOND Expo, with live funding events like Fund at First Pitch, where 150 companies are competing in front of more than 100 investors for the chance to secure funding. The Wealth Summit, held in partnership with the Asian Family Legacy Foundation and Greenwich Economic Forum, highlights the growing role of family offices and regional investors in shaping the global innovation ecosystem.

For innovators and investors across the Gulf region, BEYOND Expo presents a valuable opportunity to connect with global tech leaders and explore partnerships, as Gulf countries continue to diversify their economies through investments in AI, clean tech, and smart industries, events like BEYOND offer access to cutting-edge trends, emerging markets, and cross-border collaboration with Asia’s fastest-growing tech hubs.

Held at The Venetian Macau’s Cotai Expo, one of Asia’s largest MICE (meetings, incentives, conferences and exhibitions) venues, the event is supported by Sands Resorts Macau, known for its luxury hotels, shopping, dining and entertainment experiences.

For more information, visit: www.beyondexpo.com