Ipic profitable in 2016

Net profit $200 million for 2016 vs loss of $4.1billion in 2015. Details (notes 14, 17) show a big swing in cost of sales due to a drop in impairment of oil & gas properties from $3 billion in 2015 to $1 million in 2016 (I double checked the b’s and m’s). Digging, I found that “the Group changed its

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Decision making and risk

My willingness and ability to take risks and manage them often comes up as a topic of conversation. Let me explain how I got here. In 1989, after completing my first year at university, I spent the summer as an intern at the Abu Dhabi Investment Authority (Adia). I found the world of investments fascinating and as part of that

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Entrepreneurs' Dreams

Noon, the online retailer, was announced in November 2016 with a launch date of January 2017. Last week, word began to emerge that Noon, now almost five months late on its originally announced launch date, might be moving many of its staff to Saudi Arabia. Why, when a venture is already delayed five months, would you make such an important

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No values? Here's a promotion!

My insight into how those with no values are promoted: If a supervisor instructs an employee to do something, then an employee with values will push back if the action conflicts with their values. The employee with no values will immediately execute the instruction without hesitation. From the supervisor’s point of view it can look like the former employee is

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Unmasking business shenanigans

I have recently pointed out that one of the warning signs that a business is facing issues is when core revenue, ie revenue from the main business lines, is down but profit is up. Why the combination? Why not simply flag a drop in core revenue? Because it is normal for revenue to fluctuate – especially in a challenging economy.

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Real alternatives to the game of monopolies in the GCC

As the economy continues to be under contractionary pressure, it is high time we took an in-depth look at one of the major constraints to its growth. As we know, it is entrepreneurs building start-ups that form the foundation of any economy. However, as I have argued before, monopolies stifle entrepreneurship. The greater the number of monopolies, the greater the

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