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Web Summit Qatar concluded with the QRDI Council announcing the winners of the Rising Innovators Award, celebrating student projects that showcase innovation. The first place was awarded to the Modular Automatic Sorting Hub (M.A.S.H) from Doha University, while the AI-powered Sharia Bot and Electronic Medical Triage System (EMTS) secured second place. Additionally, QRDI signed MoUs with the Ministry of Labor and ITQAN to enhance healthcare innovation and streamline certificate authentication through blockchain technology.
Cauridor, co-founded by Oumar Rafiou Barry, has achieved over 90% revenue from its payment rails division, reaching a total payment volume of $500 million in 2024. With plans for expansion into Mali and Nigeria, the company is also exploring blockchain integration to enhance cross-border payments in Africa.Meanwhile, Libya's first B2B e-commerce platform, Alkremeya, has launched to modernize the grocery supply chain, aiming for regional expansion across North Africa and the Middle East. The platform connects retailers with importers, streamlining procurement and enhancing transparency.In Egypt, Souhoola has partnered with Visa to launch a new prepaid card aimed at promoting financial inclusion and improving the shopping experience for Egyptians, set to launch in 2025.
Huawei has launched its FDD tri-band Massive MIMO globally, enhancing 4G capacity and 5G experiences. This innovative solution, now deployed in several African countries, significantly boosts 4G traffic handling by 90% during peak hours and improves user-perceived speeds by 320%. With plans for expansion in 15 additional countries, it addresses the growing mobile data demands driven by rapid urbanization and population growth.
UBS evaluates the impact of US tariffs on energy imports, focusing on Canadian Natural Resources Limited, a leading oil and gas producer. The company operates primarily in North America, the UK North Sea, and offshore Africa, with significant activities in oil sands mining and refining in Alberta. It holds a 90% stake in key projects like the Muskeg River and Jackpine mines and the Quest Carbon Capture facility.
Société Générale is pursuing a strategic turnaround by 2026, aiming for a CET 1 ratio of 13%, a cost-to-income ratio below 60%, and a RoTE of 9-10%. Following a strong Q3 2024 performance, with net income soaring to €1.367 billion, analysts are increasingly optimistic about the bank's recovery and its ability to meet these targets. CEO Slawomir Krupa emphasizes a focus on capital build-up and profitability improvement amid ongoing restructuring efforts.
Eni SpA is on track to complete its asset selloff plan ahead of schedule, having already sold €5.9 billion worth of assets, with an additional €3 billion expected by the end of 2025. The Italian energy group aims to divest €8 billion in total by 2027, focusing on upstream activities and stakes in various units. Eni's strategy includes transitioning away from hydrocarbon-related operations to support its energy transition plan, with plans to spin off a new carbon capture and storage division.
Cocoa prices have surged to over $12,000 per tonne, marking a dramatic increase of over 90% since late October. This rise follows a previous spike of 180% earlier in the year, driven by concerns over stock replenishment due to adverse weather conditions in Côte d'Ivoire and Ghana. The situation is exacerbated by the Harmattan, a hot, dry wind affecting the region.
Cocoa futures surged to a seven-month high, reaching $10,380 a ton, driven by deteriorating production prospects in West Africa, particularly in Ivory Coast and Ghana. This increase comes amid historically low inventories, raising concerns over global supply shortages.
Global food prices have surged to an 18-month high, driven by significant increases in vegetable oils, dairy, and meat, with vegetable oil prices expected to rise further due to supply constraints. Cocoa and coffee markets face heightened price uncertainty due to adverse weather conditions in key producing regions. Analysts predict continued volatility in agricultural prices, particularly if trade tensions escalate.
Rothschild & Co is advising Ivory Coast on a debt-swap deal aimed at refinancing approximately €400 million ($420 million) of high-cost debt, potentially generating savings for fiscal and social initiatives. The deal, supported by a World Bank guarantee, is expected to fund improvements in the country's education services.
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