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IKEA expects profit decline over supply chain crisis, cost

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IKEA, the world’s largest furniture group, has said it expects a decline in profits for the next two years due to a potential price hike of its products amid the global supply chain crisis and increasing cost of raw materials.
The Netherlands-headquartered multinational conglomerate’s net profit in the year ended August decreased 17 per cent to 1.4 billion euros
The Netherlands-headquartered multinational conglomerate’s net profit in the year ended August decreased 17 per cent to 1.4 billion euros despite a record 6 percent growth in online and in-store sales across its franchise system to 41.9 billion euros. The company’s profit was down 4 percent in the pre-pandemic fiscal 2019.
The company, which makes money mainly from sales of goods to its franchisees, said in October retailers’ sales totalled a record 41.9 billion euros, up 6 percent on the year and up 1 percent from fiscal 2019 as locked-down consumers spent more than ever on their homes, and despite product shortages.
Privately-held Inter IKEA said in its annual summary that the coronavirus pandemic affected its operating income in FY21. The biggest cause was the steep increase in transport and raw material prices in the second half of the financial year, it added.
In an interview, Martin van Dam, Inter Ikea’s chief financial officer, said that the company is expecting supply disruption to continue along with the increase in raw material and energy prices during the fiscal year 2022.
He added that the fiscal year 2022 will not be easier than the previous fiscal year.
The company would increase prices for the first time since 2019. Van Dam said they want to stay as low-priced as possible, adding that the move does not necessarily mean surges for customers as this depended on how much retailers such as Ingka Group passed on and how much they adopted.
However, he said the hike in prices is unavoidable because of the severity of problems in supply chains.
Inter Ikea spent 250 million euros to mitigate supply chain disruptions, from buying its containers to moving goods by trains rather than by ship.

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Dubai Investor Expands Global Footprint with London Investment Firm

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A Dubai businessman has launched a London-based investment company to acquire stakes in private and listed businesses in the United Kingdom and international markets.
Hari Shankar Tibrewala, who founded Dubai-based Zenith Global Limited and Zenith Multi Trading DMCC, said the new company, Zenith Global Ventures Ltd, would invest exclusively its own capital.
Based in Berkeley Square, Mayfair, the company will focus on established private businesses, selected listed shares, technology and artificial intelligence, and strategic acquisitions. It will consider minority and controlling stakes, including investments where it can participate in governance and strategy.
“Zenith Global Ventures has been set up to be a patient, disciplined owner of quality businesses. Because we invest our own capital, we can take a long-term view, back strong management teams and focus on lasting value rather than short-term results,” said Tibrewala, its founder and director.
According to the company, it has no outside investors or fixed fund life, allowing it to hold investments without a predetermined exit timetable.
Zenith said it would assess potential investments on earnings, cash flow, balance-sheet strength and competitive position, alongside management quality and governance. Each opportunity would undergo due diligence and be subject to applicable legal and regulatory requirements.
For listed shares, the company said it would seek businesses it considers undervalued. Its technology and AI investments would focus on companies it believes can sustain a competitive advantage.
The company cited London’s legal framework, capital markets and connections with Europe, the Gulf and Asia as reasons for choosing the city as its base.
Tibrewala established investment holding company Zenith Global Limited in Dubai in 2013, followed by Zenith Multi Trading DMCC in 2014. He moved to London in 2024.
Zenith Global Ventures said it does not manage third-party funds or offer investments to the public.

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MIRAL Joins 2026 Abu Dhabi T10 as official experience partner

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Yas Island will become the official experiences partner of the Abu Dhabi T10 for its 2026 edition, under a new partnership between Abu Dhabi Cricket & Sports Hub (ADCSH) and Miral.

Under the agreement, all six Abu Dhabi T10 franchises will be based on Yas Island during the tournament, while a number of events linked to the competition will also be held across the destination.

The partnership will include the tournament’s Trophy Launch, Opening Party and Closing Party, with Yas Island’s attractions and venues forming part of the wider Abu Dhabi T10 experience for players, teams, partners and fans.

“We are thrilled to welcome Yas Island as the Official Experiences Partner of the 2026 Abu Dhabi T10,” said Matthew Boucher, CEO of Abu Dhabi Cricket & Sports Hub and Abu Dhabi T10.

“The island is an unbelievable destination which will provide an exceptional setting for our teams, our players and for many of the tournament experiences.”

Leon Marsh, Miral’s director of events, said the partnership reflected a shared aim of creating experiences for “fans, teams and families alike”.

“Yas Island is the ideal setting for the key moments and flagship events taking place during this year’s Abu Dhabi T10,” he said.

The 2026 Abu Dhabi T10 Draft, held at Hilton Abu Dhabi Yas Island, saw 108 players selected by six franchises: Arabian Aces, Emirates Eagles, Royal Desert Champions, UAE Bulls, United Tigers and Yas Lions.

The tournament will take place at Zayed Cricket Stadium from 7 to 20 November, bringing together international players for the 10-over competition.

The partnership is also intended to promote Abu Dhabi as a destination combining international sport, leisure and entertainment, with Yas Island providing the base for the teams throughout the tournament.

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Abu Dhabi T10 teams up with Dot Republic Media to strengthen global digital presence

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Abu Dhabi T10 has announced a strategic content partnership with DRM (Dot Republic Media), the world’s number one cricket digital network and one of YouTube’s largest multi-channel networks, with more than 600 channels and 190 million combined subscribers.

Across its sports ecosystem built on partnerships with leading cricket federations and broadcasters worldwide, DRM reaches over 20 million subscribers and delivered more than 10 billion impressions and 2 billion views in 2025 alone.

Under this partnership, DRM will deliver year-round content for Abu Dhabi T10 across its YouTube network, keeping the T10 product in front of fans well beyond the tournament window, growing viewership and audiences in key markets, and building deeper engagement with a new generation of cricket fans.

For Abu Dhabi T10 2026, which will run November 7-20 at the UAE capital’s iconic Zayed Cricket Stadium the partnership means ‘Cricket’s Fastest Format’® is now programmed on YouTube 365 days a year, not only across the thirteen days of the tournament. A team of dedicated content experts will deliver player features, on-field highlights and re-lives drawn from archival seasons, distributed simultaneously across the network’s channels, and targeted at cricket’s largest digital markets.

It is a deliberate move from a traditional distribution model to a digital-first one. Rather than reaching supporters only through intermediaries, Abu Dhabi T10 will hold a direct line to its audience, every week of the year, on the platform where cricket’s next generation already watches the game.

Matt Boucher, CEO of the tournament’s owners Abu Dhabi Cricket & Sports Hub (ADCSH) and Abu Dhabi T10, said the expanded distribution strategy was another key piece of the wider platform now being built around the tournament.

“Global reach is fundamental to the ambition we have for Abu Dhabi T10, and our partnership with DRM gives us the digital connectivity needed to engage the next generation of cricket fans,” explained Boucher.

“Piece by piece, we are building a compelling new platform for the tournament – one that creates greater international visibility, stronger commercial opportunities, and a powerful showcase for Abu Dhabi as a global destination for sport, entertainment and investment.”

Muhammad Adnan Butt, CEO, DRM commented: “We are pleased to align with a tournament that understands where content consumption is going. Abu Dhabi T10 is an innovative format, built for the way audiences watch sport today, and that shared view is what makes this partnership work. We look forward to putting the Abu Dhabi T10 in front of our creators and our sports audience every month of the year.”

Imran Khan, CEO, Apex Sports Consulting which co-ordinated the partnership added: “We are thrilled to bring this collaboration with two partners who have done so much for the growth of the game. Digital-first is the future of the sport, and there is no better way to access that than through this platform. Apex is building this distribution model across cricket, and this is what digital-first looks like in practice.”

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