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- 🌍 Qatar Steps Up in Syria 💸, Chalhoub Expands in Luxury 💎, and DAMAC Invests $20B in U.S. Data Centers 📊
🌍 Qatar Steps Up in Syria 💸, Chalhoub Expands in Luxury 💎, and DAMAC Invests $20B in U.S. Data Centers 📊
Thursday, January 9th, 2025
Good Morning! 🌞
Today’s updates: Qatar’s big move in Syria, Chalhoub’s expansion into beauty and luxury, and DAMAC’s massive U.S. data center investment. Let’s dive in! 📰
Stay updated as we track these major shifts shaping the region and beyond!🌍✨
But before that: You can join our Whatsapp channel too to receive updates from the business world.
📰 Qatar Explores Funding for Syria’s Public Sector 💰
📰 What is it about?
Qatar is in talks to help fund a 400% salary increase for Syria’s 1.25 million public sector employees. The interim Syrian government has proposed a $120 million monthly payroll but needs external support. Qatar is lobbying the U.S. to ease sanctions to enable financial assistance.
💡 Why it matters?
Highlights Qatar’s growing regional influence and its commitment to stabilizing Syria.
Showcases the complex financial and geopolitical dynamics in the Middle East.
🔜 What’s next?
Negotiations are ongoing with Qatar and other nations to finalize the funding structure.
Markets
EGX 30 | 29,785.91 | -0.48% |
DFMSI | 3072.81 | +20.462% |
ADX | 9,522.89 | +0.115% |
Tadawul | 12,113.29 | +0.490% |
📰 Chalhoub Group Secures PUIG Distribution Rights in Qatar 💎
📰 What is it about?
Chalhoub Group Qatar has acquired the exclusive rights to distribute and retail PUIG’s luxury brands, including Carolina Herrera, Paco Rabanne, and Christian Louboutin.
💡 Why it matters?
Strengthens Chalhoub’s position in the beauty and luxury markets.
Marks a key milestone for the group’s operations in the Gulf.
🔜 What’s next?
Expect further acquisitions as Chalhoub Qatar continues its growth trajectory.
💭Quote of the day:
"It always seems impossible until it's done." — Nelson Mandela 😉
📰 Damac to Invest $20B in U.S. Data Centers 📊
📰 What is it about?
Dubai-based Damac Properties, led by Hussain Sajwani, is investing $20 billion through EDGNEX Data Centres to build facilities across multiple U.S. states, including Texas, Ohio, and Michigan.
💡 Why it matters?
Positions DAMAC as a global player in data infrastructure.
Reflects growing interest from Gulf companies in U.S. tech sectors.
🔜 What’s next?
The project will significantly expand data center capacity in key U.S. markets.
🔍In other news…
Hotel bookings for Coldplay’s Music of the Spheres tour in Abu Dhabi have skyrocketed by up to 300%, according to EaseMyTrip.
A man in a heated argument with the flight attendant, “You support terrorism, you’re antisemitic,” the passenger yells.
WWE has just announced that the Royal Rumble will be held in Riyadh, Saudi Arabia, in January 2026 — the first time EVER outside North America!
The Latest from the Smashi Business Studio
Smashi Business Show : UAE Billionaire Hussain Sajwani to Invest $20B in US Data Centers 💵 🇦🇪
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Here’s to a productive week ahead! 💪