Sign up for our Middle East newsletter and follow us @middleeast for news on the region. The United Arab Emirates’ national energy company has started pitching an initial public offering of its gas business to investors, according to people familiar with the matter. During calls and presentations with potential backers, Adnoc said the two units merged to create Adnoc Gas generated record income last year, according to the people. The strong performance came as global gas prices soared after Russia’s invasion of Ukraine and its decision to cut supplies to Europe. Adnoc Gas was formed at the start of 2023 when Adnoc combined its liquefied natural gas and gas-processing arms. They made adjusted earnings before tax and interest payments of $8.7 billion in the year-ended October 2022, the people said. Companies are typically valued at several multiples of that figure, though investors are also likely to take into consideration figures from earlier years, when income was lower, as well as the fact gas prices have dipped in 2023. Read more: Adnoc Eyes Valuation of at Least $50b for Gas Business: Rtrs Goldman, BofA Said to Give Up Lead Roles on Adnoc Gas IPO Revenue for the period through October […]

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To recognize authors making a positive impact with words, the Annual Goody Business Book Awards announces that it is now accepting 2023 Nominations for any book published within five years with 25 New award categories to expand options. SANTA MONICA, Calif., Feb. 1, 2023 /PRNewswire-PRWeb/ — The Annual Goody Business Book Awards announces its 2023 book nominations are now Open for any book published within the past 5 years (2019-2023) with 25 New and revised categories! While many book awards highlight a social good category, the Goody Business Book Awards program honors 100% social impact books in 50 categories. Authors, publishers, literary agents and fans are encouraged to Nominate a Book by September 30, 2023. Goody PR and Goody Business Book Awards Founder, Award-Winning Author and Podcast Host Liz H. Kelly explains; "With a sea of 48.5+ million books published on Amazon as Kindle eBooks alone, authors need to find new ways to stand out above the rest beyond being a bestseller, which includes becoming an Award-Winning Author." When asked what changed, Kelly expanded, "The Goody Business Book Awards still has 50 total book award categories , but added MANY categories based on the most popular book award categories […]

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Lawyer Spotlights: Genna Ghauland Nicholas J. Morin The Year in Bankruptcy : 2022 A brief chronicle of the year’s notable developments in corporate bankruptcy and restructuring, including business bankruptcy filings, significant court rulings and bankruptcy legislation. [ read more … ] First Impressions: The Eleventh Circuit Examines 20-Day Administrative Expense Claims and the Subsequent New Value Preference Defense Because the claims of vendors who provide goods to a debtor during the 20 days before it files for bankruptcy are conferred with administrative expense priority—a designation otherwise almost exclusively limited to claims against a debtor that arise after the bankruptcy petition date—courts sometimes disagree over whether a preference defendant can use the same value to assert such a "20-day claim" and to offset its preference liability under the "subsequent new value" defense. The U.S. Court of Appeals for the Eleventh Circuit recently addressed this question as a matter of first impression in Auriga Polymers Inc. v. PMCM2, LLC , 40 F.4th 1273 (11th Cir. 2022). It held that a preference defendant may use the same value to assert a 20-day claim that it can use to offset its preference liability under the subsequent new value defense. In so ruling, the […]

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Carrie Montgomery Heidi Hapanowicz Emotional intelligence is a critical skill that business owners need to succeed in today’s competitive market. Emotional intelligence is the ability to recognize, understand and manage emotions, both your own and those of others. It’s an important tool that can help you better understand your customers and employees and make smarter decisions based on emotional cues. Meet Carrie Montgomery , Brand Mentor, Creative Director, & Style Architect, and founder of Somatic Styling Method and Radiant Brand Method, who teaches business owners how to tap into their emotional intelligence in order to regulate their nervous system and express their brand more masterfully. She helps her clients to expand their capacity and vision plus reach new opportunities. Montgomery believes that emotional intelligence is vital for entrepreneurs and the success of their businesses as it helps you confidently make business decisions. She uses a simple and memorable process to take action: Recognize, Regulate, and Re-approach to teach her clients how to recognize others and navigate situations. The benefits of emotional intelligence in business Having emotional intelligence as a business owner has numerous benefits. First and foremost, it allows you to understand your customers’ needs better. With emotional intelligence, […]

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Electric power transmission pylon miniatures and Orsted logo are seen in this illustration taken, December 9, 2022. REUTERS/Dado Ruvic/Illustration/ COPENHAGEN, Feb 1 (Reuters) – Denmark’s Orsted (ORSTED.CO) , the world’s No. 1 offshore wind farm developer, on Wednesday reported fourth-quarter operating profit in line with preliminary 2022 numbers but said its offshore business faced challenges. "In a year with unusual market conditions, not least the very volatile energy prices and a substantial increase in inflation, we’re happy to achieve a record-high operating profit for 2022," Chief Executive Mads Nipper said in a statement. However, fourth-quarter earnings before interest, tax, depreciation and amortisation (EBITDA) excluding new partnerships fell 19% to 6.70 billion Danish crowns ($979.5 million), the statement said. The company said it saw an unexpected decrease in its offshore business in the fourth quarter, primarily due to adverse impacts from hedges and delays at its Hornsea 2 project in the UK and Greater Changhua 1 & 2a project in Taiwan. Orsted confirmed its 2023 forecasts for EBITDA excluding new partnerships of 20 billion-23 billion crowns, compared with 21.1 billion achieved last year and below the 24.2 billion crowns expected by analysts. Its shares, which have shed more than half […]

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The new book, Start Your Own Pet Business, details easy ways to add new revenue streams to your biz. In Rich Mintzer’s new book, Start Your Own Pet Business , the author expertly outlines everything you need to know to successfully launch a pet-based business . In this excerpt, we’ll look at ways to bring in new revenue streams that go beyond walking or sitting more furry clients. Offer more services If you really know your way around a pooch, these are some services that most dog owners are always in need of: Grooming Taxi service to veterinary and grooming appointments Obedience training Those are just a few of the possibilities. The good news about most of that list, and about a lot of services, is that your business incurs little in the way of additional costs per service. Typically, the cost to you is in time and perhaps a few supplies. Your real costs are in obtaining your own education and then any additional equipment you need to provide the service. It’s not likely all your customers will want to avail themselves of your new services, but some will. And voila! You’ve expanded Selling products The other way […]

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Javed Laher , MBA. Sales Director, Mediaocean EMEA | Host on Podcast Suits N Tracksuits | Founder of Chef33, Home Food App #Harvard #London getty As different parts of the world announce their economic positions, whether they are currently in a recession or approaching a recession, there will be measures companies need to take to ensure they maintain a level of business for survival at the minimum level in order to establish a plan to thrive. In this article, I will break down ten considerations for businesses during this time. 1. Focus on value. During a recession, consumers are more price-sensitive than usual. To stay competitive, it’s important to focus on the value that your products or services provide to customers. This might include features and benefits, as well as cost-savings that your products or services can deliver. 2. Be flexible with pricing. In a recession, consumers are often looking for a good deal. You might consider offering discounts or other incentives to attract price-sensitive customers. However, you should be careful not to compromise on profitability in the process. 3. Understand your customers. During a recession, people’s needs and priorities change. Therefore, it is important to understand your customers’ […]

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Full-Year 2022 net revenue of KRW 110 billion, up 8% over 2021 reaching a record high Strong R&D momentum to continue with batoclimab entering multiple pivotal studies with the first Phase 3 data readout in China expected in 2023 Top-line data from tanfanercept’s Phase 3 dry eye study expected in H1 2023 SEOUL, South Korea, Feb. 1, 2023 /PRNewswire/ — HanAll Biopharma Co., Ltd. (KRX: 009420. KS), a global biopharmaceutical company committed to discovering and developing innovative medicines for patients, reported financial results for 2022 and provided business updates. Total revenues for 2022 were 110 billion won, an 8% increase year-on-year, mainly driven by continued strong sales from the key products and milestone revenues from the licensed partners, including $10 million milestone payment from Immunovant for the initiation of the MG Phase 3 trial. Net income for the year was 2 billion won, offset by increased R&D expenses. "HanAll continued to transform into innovative global biopharma in 2022 by strengthening clinical development capability and expanding open collaboration network while continuing to deliver solid sales performance. We were able to launch a share buyback program to return value to our stakeholders," said Sean Jeong, M.D., CEO of HanAll Biopharma. "Moving […]

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New York CNN — Bed Bath and Beyond is closing another 87 stores as the struggling retailer barrels toward bankruptcy. The closing stores are in addition to the 150 closures Bed Bath and Beyond announced last August. Included in the new list is 5 buybuy Baby locations and all 49 remaining Harmon Face Value stores, which once sold cosmetics. “As we continue to work with our advisors to consider multiple paths, we are implementing actions to manage our business as efficiently as possible,” a Bed Bath and Beyond spokesperson told CNN. “This store fleet reduction expands the company’s ongoing closure program.” Bed Bath & Beyond says it can no longer pay its debts Last week, the company warned in a regulatory filing that it received a notice of default from its lender, JPMorgan Chase. The company said that “at this time, the company does not have sufficient resources to repay the amounts under the credit facilities and this will lead the company to consider all strategic alternatives, including restructuring its debt under the US Bankruptcy Code.” Bed Bath and Beyond (BBBY) defaulted “on or around” January 13, according to the Securities and Exchange Commission filing. It could be forced […]

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Turletti leads sustainable efficiency & profitability across organizations thru innovation, management & marketing @ ROI Marketing Institute getty 6:10 a.m. It is a very cool November morning in Sedona, and Danny is picking me up in the middle of a pitch-dark night full of sparkling stars. He and I are about to embark on one of the most delightful flights possible: seeing the sunrise from a hot air balloon. On the way to the field, we had a casual chat about how everything— from gas to meat to diapers —has become so expensive in the United States lately. On top of heightened costs, we both felt like we’d noticed a lowered quality of service and value. It’s as if the previous standard of excellence has become a premium feature; you only get it now if you pay for it. Talking to Danny that morning in Sedona wasn’t the first conversation I’ve had with someone who felt this way about the current state of service. It’s something I’ve personally verified everywhere I go and with everyone I meet. It’s clear that consumers feel business management isn’t prioritizing efficiency, quality or accountability, to their detriment. Having run businesses in several countries, […]

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