Companies
Snap shares dive 24% over impact of Apple security changes
Published
3 years agoon
![](https://headline.ae/wp-content/uploads/images-68-1.jpeg)
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%”.
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Announcements
UAE fuel prices announced for September 2024
Published
1 week agoon
August 31, 2024By
SudhashreeThe UAE fuel price committee on Saturday announced petrol and diesel prices for the month of September 2024.
Super 98 petrol will cost Dh2.90 a litre, compared to Dh3.05 a litre in August, while Special 95 will cost Dh2.78 a litre, compared to Dh2.93 a litre the previous month. E-Plus category petrol will be available for Dh2.71 a litre, compared to Dh2.86 a litre in August, while diesel will now cost Dh2.78 a litre, compared to Dh2.95 a litre the previous month.
UAE Fuel Price Committee announces prices for September#WamNewshttps://t.co/Jwis5fd2Ah pic.twitter.com/qOspYYVge4
— WAM English (@WAMNEWS_ENG) August 31, 2024
he UAE has been revising retail petrol prices on the last day of the month ever since the government deregulated oil prices in August 2015 to bring them at par with the global rates.
The approved fuel prices by the Ministry of Energy, according to the average global price of oil, whether up or down, after adding the operating costs of distribution companies.
Announcements
Secure Connection Brings Honeywell-Licensed Solutions to Saudi Market in Landmark Move
Published
3 weeks agoon
August 15, 2024By
SudhashreeSecure Connection, the Hong Kong-based electronic products manufacturer, announced its strategic expansion into the Saudi Arabian market with its complete range of Honeywell-licensed products. Secure Connection is an authorized trademark licensee for Honeywell International Inc. and has exclusive rights to manufacture, market, sell, and support a wide range of Honeywell-licensed products in Southeast Asia, South Asia, Middle East Asia & Africa, covering a wide array of product categories such as Air Purifiers, Home and Personal Audio products, Mobile and IT accessories, and Structured Cabling Systems.
Mr. Mohit Anand, CEO, Secure Connection Limited, shared insights on the significance of this market expansion, stating, “Saudi Arabia presents an exciting opportunity for us. Saudi Arabia is known for its vibrant economy and dynamic consumer landscape and presents tremendous opportunities for our Honeywell-licensed product range. We are confident and excited about our launch in the Kingdom and look forward to delighting the consumers with our comprehensive product offerings. We are extremely happy to have partnered with SAMIR Trading & Marketing Company as our distribution partner in Saudi Arabia”.
Samir Trading & Marketing company a leading technology product distributor in Saudi Arabia who aligns with Secure Connection’s long-term vision and shares the commitment to deliver exceptional consumer experiences. Mr. Saed Al-Hindi, CEO, SAMIR Trading & Marketing Company “We are excited to embark on this partnership with Secure Connection. Our shared commitment to delivering exceptional customer experiences aligns perfectly. Together, we will introduce innovative Honeywell-licensed products that cater to the evolving needs of Saudi consumers.”
This move represents a noteworthy step for Secure Connection’s global growth plans by exemplifying its dedication to pursuing new prospects and business opportunities. Secure Connection is committed to the Saudi Arabian market and is demonstrating this by investing resources to help create a robust business and footprint across the country.
Announcements
Burjuman or Union ? RTA reveals Dubai’s busiest metro station
Published
4 weeks agoon
August 12, 2024By
SudhashreeThe Dubai Metro was the top choice of public transport in the emirate, accounting for 37 per cent of all commuters in the first half of 2024. Overall public transport ridership clocked 361.2 million in the first six months of the year — a 6 per cent increase over the same period in 2023. BurJuman and Union stations saw the highest number of passengers, with BurJuman recording 7.8 million users and Union station 6.3 million users.
The Roads and Transport Authority (RTA) counts Metro, Tram, public buses, marine transport, taxis, e-hail vehicles, smart rental vehicles, and on-demand buses while computing public transport ridership numbers. BurJuman and Union stations saw the highest number of passengers, with BurJuman recording 7.8 million users and Union station 6.3 million users.
#RTA announced that the number of users of public transport and shared mobility in Dubai—including Metro, Tram, public buses, marine transport, Taxis, e-hail vehicles, smart rental vehicles, and on-demand buses—reached about 361.2 million in the first half of 2024. This… pic.twitter.com/nirGThtXOT
— RTA (@rta_dubai) August 11, 2024
Announcing these figures on Sunday, theDubai Roads and Transport Authority (RTA) said the number of users of public transport and shared mobility means in Dubai, including Metro, Tram, public buses, marine transport, taxis, e-hail vehicles, smart rental vehicles, and on-demand buses—reached saw a six per cent increase compared to around 340.5 million users in the first half of 2023. The daily average number of riders in the first half of this year reached 1.98 million, compared to 1.88 million in the same period in 2023.
His excellency Mattar Al Tayer, director general, chairman of the board of executive directors of the RTA said the authority plans to improve public transport even further. He said: “RTA’s strategic and operational plans are based on achieving multi-modal integration of all public transport and shared mobility means to ensure smooth mobility across Dubai. This included developing and expanding road networks and all elements of public transport — metro, tram, buses, marine transport, first and last-mile solutions, and shared mobility— along with an enhanced and integrated pedestrian and cycling infrastructure.
“The RTA also focuses on traffic management systems to maximise the efficiency of roads and public transport and implements policies to encourage the public to reduce reliance on private vehicles and increase the use of public and shared transport,” the RTA chief added.