ShareKlasha has secured an additional $2 million in funding to enhance its cross-border B2B payment services, focusing on enabling merchants in Asia and Africa to send and receive payments through its payment rails. The fresh capital will support Klasha’s expansion into Asia, particularly with the opening of a new office in Hangzhou, China, a key hub for major e-commerce players and payment service providers like Alibaba. Klasha aims to provide seamless B2B payment solutions between Asia and Africa, utilizing its virtual multi-currency accounts, collection and payout APIs, and cross-border wire services to facilitate faster and more efficient transfers across multiple currencies. Anuna emphasized Klasha’s commitment to further strengthening its B2B payment capabilities between the two regions. With this new funding and the addition of Justin Fan to the team, Klasha is well-positioned to tap into the opportunities within the Asian B2B payment sector.

ForewordThe grocery sector in the Middle East and North Africa (MENA) region has demonstrated remarkable resilience over the past year. McKinsey’s 2024 CEO and Consumer Surveys, along with other research, highlight eight trends shaping the global grocery market this year (Exhibit 1). 1MENA’s grocery market: A growth arena in the world of grocery retailThe grocery sector in MENA has not been immune to global economic pressures, but the sector is enjoying strong momentum and has significant growth potential. Grocery retailers enjoy a privileged position in today’s media landscape by virtue of their reach and scale. This is a Middle East and North Africa–specific version of McKinsey’s State of Grocery Retail 2024 report series.

Morocco has reaffirmed that its territorial integrity and full sovereignty over its entire Saharan Territory are RED LINES and NOT NEGOTIABLE, sending a strong message to Algeria, Polisario and UN Sahara envoy Staffan de Mistura. Morocco’s unwavering stand on the Sahara was voiced Monday by foreign minister Nasser Bourita at a press briefing held in Rabat following his talks with Estonian peer Margus Tsahkna. “The Sahara, Morocco’s unity and territorial integrity have never been on the negotiating table, nor the subject of agreements or compromises”, said Bourita. Morocco had already rejected categorically in 2002 the “partition plan” submitted by former UN Sahara envoy James Baker, on a proposal from Algeria, underlined Bourita. Aziz Akhannouch delivered Morocco’s address reiterating the Kingdom’s firm attachment to a lasting political solution based exclusively on the autonomy plan offered by Morocco to the Sahara under its sovereignty.

Johan Nilerud is senior director of strategy and planning at Khazna Data Centers, which claims to be the largest hyperscale wholesale data centre provider in the Mena region. Data centres are critical for AI because they provide the massive computational power and data storage required. Khazna’s multi-billion-dirham 100 megawatt data centre in Ajman, announced last week, has already secured significant customer commitments 15 months ahead of completion, Nilerud says. “The financing models for data centres are still evolving,” a bank executive tells AGBI, declining to be named. This complexity is echoed by credit ratings agency Moody’s, which said in a research note last year that modern data centre construction and expansion will require access to diverse debt markets.

The databook focuses on market statistics denoted in the form of revenue and y-o-y growth and CAGR across the globe and regions. A detailed competitive and opportunity analyses related to thermoplastic elastomers market will help companies and investors design strategic landscapes. Horizon Databook has segmented the Middle East & Africa thermoplastic elastomers market based on automotive, electrical & electronics, industrial, medical, consumer goods covering the revenue growth of each sub-segment from 2018 to 2030. Rapid industrialization, along with improving infrastructure in the Middle East, is expected to drive the demand for TPEs. The Middle East & Africa is expected to become an emerging market for medical devices in the coming years.

Brompton Technology is pleased to announce the appointment of Hassan Abu Minshar as Technical Sales Manager for the MENA (Middle East and North Africa) region. Hassan brings to his new role over two decades of experience in the Pro AV industry and in live events. Prior to joining Brompton, Hassan worked with image processing manufacturer Analog Way where he successfully managed sales and operations in the Middle East, and built strong relationships with rental and staging companies, AV system integrators and LED manufacturers. Hassan expressed his excitement about joining Brompton, stating, “I am thrilled to be part of a company that I have long admired for its commitment to delivering exceptional award-winning products. Hassan’s dedication to customer satisfaction and his ability to build strong relationships will undoubtedly contribute to our ongoing success.”

The Global Commission on the Economics of Water says decades of collective mismanagement and undervaluation of water worldwide have damaged freshwater and land ecosystems and allowed for the continuing contamination of water sources. “We have, fundamentally, put the hydrological cycle under unprecedented stress, with growing consequences for communities and countries everywhere. Water crisis can be fixedThe Commission does, though, also suggest in The Economics of Water: Valuing the Hydrological Cycle as a Global Common Good that this crisis can be fixed through collective action and urgency. Cooperation on water resources global prosperity and peaceCritical role of waterThe Global Commission on the Economics of Water has submitted the report to help advance new thinking and actions around the multilateral water agenda. The Economics of Water: Valuing the Hydrological Cycle as a Global Common Good report is accessible from the Commission website.

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Ice, Ice, BabyMars isn’t exactly a vacation destination. Like Earth, Mars also has icy glaciers at its polar regions that never melt. Martian ice likely began as dusty snow, which eventually compacted into ice over a few million years. In its mid-latitudes—the “comfortable” zone—some dusty ice fields were covered up by rocks then later excavated by meteorite impacts to re-expose the ice. The simulation tapped the physics of water, ice, and snow and how they change when mixed with impurities such as Martian dust.

CHICAGO--(BUSINESS WIRE)--Northern Trust (Nasdaq: NTRS) held its third Charity Trading Day with employees across the world participating to benefit four charities aligned with Northern Trust’s philanthropic strategy. October is Northern Trust’s signature month of global volunteerism, known as Achieving Greater Together, and Charity Trading Day is at the heart of Northern Trust Asset Servicing’s social impact strategy. “Supporting philanthropic efforts is deeply rooted in Northern Trust’s culture,” said Teresa Parker, Northern Trust Asset Servicing President. “Since hosting our inaugural Charity Trading Day in 2022, we have donated more than US$2.5 million to charitable causes from this effort. Institutional Brokerage services including ITS are provided by NTGS SE in the EEA, Northern Trust Securities LLP (NTS LLP) in the rest of EMEA, Northern Trust Securities Australia Pty Ltd (NTSA) in APAC and Northern Trust Securities, Inc. (NTSI) in the United States, member FINRA, SIPC and a subsidiary of Northern Trust Corporation.

Across the region, the promise of a better life under the military is fast turning into a nightmare. Unsurprisingly, the soldiers were quick to cash in on the favorable public mood. To say that the juntas’ soaring rhetoric has failed to match their actions is an understatement. Across the Sahel, a pattern of deliberate slaughter of civilians by members of the armed forces appears to have been instituted. After all, if the need for constant surveillance by the military state confirms anything, it is the persistence of the demand for reform.

De Mistura has said in a briefing to the Security Council last year that he raised the concept of partitioning the territory between Morocco and Algeria’s Polisario proxies. He also said in a briefing leaked by news agencies that he regretted that the idea was rejected by the parties. It was up to the members of the Security Council and the parties themselves to see what to embrace as a way forward, he said. However, the very fact that he raised partition as an alternative indicates his utter failure as a personal envoy. In raising partition, de Mistura uses the same colonial lenses that abruptly divided African territories with disregard for demography, history, and identity of these territories.

Several migrants wait to disembark from a wooden boat in the port of Arguineguin, on the island of Gran Canaria, Spain, October 20, 2024. [Photo/Agencies]Against the backdrop of increasing anti-migration sentiment across Europe, Spain's coastguard conducted a rescue operation off the Canary Islands on Sunday, saving 231 migrants, including 14 women and three children, who had crammed into a dangerously overcrowded boat. After coastguards had discovered the migrants close to Gran Canaria's main port, they towed the wooden boat to safety. According to government figures, 32,878 migrants have taken the treacherous boat route from West Africa to the Canary Islands between January and Oct 15, a rise of 39.7 percent from the same period last year. In recent years, irregular migration via the Atlantic route to the Canary Islands has increased more rapidly than any other.

Crime-cutting night bus experiment may be repeatedStagecoach The Night Bus in North Devon has impressed police and the councils that funded itAn experimental night bus service designed to cut anti-social behaviour in north Devon has proven so successful it may return next year. Police suggested it to help tackle the typical summer rise in crime and anti-social behaviour associated with longer evenings and increased population as holidaymakers flood in. 'Successful and much-valued'Torridge and North Devon councils said feedback from a 2023 trial and the Saturday service in July, August and September had been positive. North Devon Council contributed £750 towards the night bus but said it would see if it could find more money, describing the service as “successful and much-valued”. The service was set up by the police and funded by Devon County Council, North Devon Council, Torridge District Council, Cornwall County Council, the Office of the Police and Crime Commissioner and Crimestoppers.