I prefer to use numbers to discuss issues because it is harder to manipulate numbers. Words are easy to manipulate. But I still receive comments saying that when I analyse financial statements provided by companies, especially banks, I am not reading the accompanying management statements to understand the numbers.
The whole point of my articles are to help provide an alternative lens in interpreting financial statements. It is because the numbers can give a different view than management's discussion. The same can be said of stories reported by business journalists and not just what companies say. Recent articles about companies in the region have made me more aware than usual of the need to spare no effort in understanding exactly what is being written.
While I am not a journalist by profession, I can offer some insight, both as a consumer of financial news and as a regular columnist for this newspaper.
With this article I’d like to show how even financial information that is qualitative rather than quantitative can rationally be explained in a manner quite different from the original presentation and I provide a few points below that are worth remembering when reading articles in the financial press.
Headlines from global news agencies can often scream out at you. Don’t stop there. Always read the article. Often, the title, by not making any specific clarifications about the story can leave the reader with the wrong idea.
The very first sentence of an article can often directly contradict the statement and implicit assumptions of the title, so always read on beyond any potential inconsistencies.
When something is tagged as “exclusive”, ask yourself what exactly is exclusive about the information in it. If the source is exclusive, then it should not have to be unnamed, if it is the information then is that explained? It might just simply be that no other media outlet has thought of writing on this topic, which could apply to any article, justifiably or otherwise.
Unnamed sources are a useful tool for journalists and companies alike, but comments made by those unwilling or unable to provide their name should be treated with some degree of extra caution when reading any story quoting them. Even more so if the headline mentions the information being attributed to "sources". Of course, people avoid using their name when disclosing sensitive information but when someone avoids using their name when giving an analysis or opinion then it seems fishy. What is there to to hide? Keep that in mind.
The language in a typical business story can often be overly-dramatic, necessary for interest's sake but again this has the potential to confuse. Expressions used such as "scrambling to secure" financing or a deal do not represent the reality of doing business. When I read this I think to myself, since when does any global company have to "scramble" to do anything?
It is also worth noting that the very reason an article is deemed newsworthy is a link to a particular individual or company. Seek out the basis for this link. Ask if there really is any liability on their part, whether to customers, investors or others. Are there other companies and vehicles involved that have greater liability? Can the person or company linked in the article actually take a decision on the matter? Also from what point of view is the article being written? From the point of a shareholder, creditor or otherwise? For each there is a professional and rational thing to do and they won't always agree and this can cause ill feelings for some. This takes a bit of work but if you are going to believe what you are reading then it is worth knowing the background, context and history of a topic if you don't already. Now that you're interested thanks to the exciting headline and dramatic writing, take a deeper look into the topic and do some research.
When you come across technical terms you don't necessarily fully understand, look them up, because it might be the case that the journalist has an even more slender grasp but used it anyway because of the need for drama to peak the reader's interest.
Finally, read every article to the end. Sometimes the story can only be made clear in the final paragraph or sentence as a material fact or piece of information might be too complex or clunky to include further up – the editor might have moved that lower to avoid letting the reader get bogged down in jargon or technicalities too early on and potentially lose interest.
The closing line to an article can often be the most shocking. Or not.
Sabah al-Binali is an active investor and entrepreneurial leader with a track record
of growing companies in the Mena region. You can read more of his thoughts at al-binali.com
COMPANY PROFILE
Name: N2 Technology
Founded: 2018
Based: Dubai, UAE
Sector: Startups
Size: 14
Funding: $1.7m from HNIs
if you go
The flights
Etihad and Emirates fly direct to Kolkata from Dh1,504 and Dh1,450 return including taxes, respectively. The flight takes four hours 30 minutes outbound and 5 hours 30 minute returning.
The trains
Numerous trains link Kolkata and Murshidabad but the daily early morning Hazarduari Express (3’ 52”) is the fastest and most convenient; this service also stops in Plassey. The return train departs Murshidabad late afternoon. Though just about feasible as a day trip, staying overnight is recommended.
The hotels
Mursidabad’s hotels are less than modest but Berhampore, 11km south, offers more accommodation and facilities (and the Hazarduari Express also pauses here). Try Hotel The Fame, with an array of rooms from doubles at Rs1,596/Dh90 to a ‘grand presidential suite’ at Rs7,854/Dh443.
Company%20Profile
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THE SPECS
Engine: 6.75-litre twin-turbocharged V12 petrol engine
Power: 420kW
Torque: 780Nm
Transmission: 8-speed automatic
Price: From Dh1,350,000
On sale: Available for preorder now
BULKWHIZ PROFILE
Date started: February 2017
Founders: Amira Rashad (CEO), Yusuf Saber (CTO), Mahmoud Sayedahmed (adviser), Reda Bouraoui (adviser)
Based: Dubai, UAE
Sector: E-commerce
Size: 50 employees
Funding: approximately $6m
Investors: Beco Capital, Enabling Future and Wain in the UAE; China's MSA Capital; 500 Startups; Faith Capital and Savour Ventures in Kuwait
Citadel: Honey Bunny first episode
Directors: Raj & DK
Stars: Varun Dhawan, Samantha Ruth Prabhu, Kashvi Majmundar, Kay Kay Menon
Rating: 4/5
The%20specs
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ENGLAND WORLD CUP SQUAD
Eoin Morgan (captain), Moeen Ali, Jonny Bairstow, Jos Buttler (wicketkeeper), Tom Curran, Joe Denly, Alex Hales, Liam Plunkett, Adil Rashid, Joe Root, Jason Roy, Ben Stokes, David Willey, Chris Woakes, Mark Wood
Living in...
This article is part of a guide on where to live in the UAE. Our reporters will profile some of the country’s most desirable districts, provide an estimate of rental prices and introduce you to some of the residents who call each area home.
Electoral College Victory
Trump has so far secured 295 Electoral College votes, according to the Associated Press, exceeding the 270 needed to win. Only Nevada and Arizona remain to be called, and both swing states are leaning Republican. Trump swept all five remaining swing states, North Carolina, Georgia, Pennsylvania, Michigan and Wisconsin, sealing his path to victory and giving him a strong mandate.
Popular Vote Tally
The count is ongoing, but Trump currently leads with nearly 51 per cent of the popular vote to Harris’s 47.6 per cent. Trump has over 72.2 million votes, while Harris trails with approximately 67.4 million.
Business Insights
- As per the document, there are six filing options, including choosing to report on a realisation basis and transitional rules for pre-tax period gains or losses.
- SMEs with revenue below Dh3 million per annum can opt for transitional relief until 2026, treating them as having no taxable income.
- Larger entities have specific provisions for asset and liability movements, business restructuring, and handling foreign permanent establishments.
Nayanthara: Beyond The Fairy Tale
Starring: Nayanthara, Vignesh Shivan, Radhika Sarathkumar, Nagarjuna Akkineni
Director: Amith Krishnan
Rating: 3.5/5
Company%20Profile
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The National Archives, Abu Dhabi
Founded over 50 years ago, the National Archives collects valuable historical material relating to the UAE, and is the oldest and richest archive relating to the Arabian Gulf.
Much of the material can be viewed on line at the Arabian Gulf Digital Archive - https://www.agda.ae/en
Naga
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Company%20Profile
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COMPANY%20PROFILE%20
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From Zero
Artist: Linkin Park
Label: Warner Records
Number of tracks: 11
Rating: 4/5
COMPANY PROFILE
Name: HyperSpace
Started: 2020
Founders: Alexander Heller, Rama Allen and Desi Gonzalez
Based: Dubai, UAE
Sector: Entertainment
Number of staff: 210
Investment raised: $75 million from investors including Galaxy Interactive, Riyadh Season, Sega Ventures and Apis Venture Partners
How to protect yourself when air quality drops
Install an air filter in your home.
Close your windows and turn on the AC.
Shower or bath after being outside.
Wear a face mask.
Stay indoors when conditions are particularly poor.
If driving, turn your engine off when stationary.
Kanguva
Director: Siva
Stars: Suriya, Bobby Deol, Disha Patani, Yogi Babu, Redin Kingsley
Specs%20
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The specs
Engine: 3.9-litre twin-turbo V8
Power: 620hp from 5,750-7,500rpm
Torque: 760Nm from 3,000-5,750rpm
Transmission: Eight-speed dual-clutch auto
On sale: Now
Price: From Dh1.05 million ($286,000)
LA LIGA FIXTURES
Thursday (All UAE kick-off times)
Sevilla v Real Betis (midnight)
Friday
Granada v Real Betis (9.30pm)
Valencia v Levante (midnight)
Saturday
Espanyol v Alaves (4pm)
Celta Vigo v Villarreal (7pm)
Leganes v Real Valladolid (9.30pm)
Mallorca v Barcelona (midnight)
Sunday
Atletic Bilbao v Atletico Madrid (4pm)
Real Madrid v Eibar (9.30pm)
Real Sociedad v Osasuna (midnight)
Day 4, Dubai Test: At a glance
Moment of the day Lahiru Gamage appeared to have been hard done by when he had his dismissal of Sami Aslam chalked off for a no-ball. Replays suggested he had not overstepped. No matter. Two balls later, the exact same combination – Gamage the bowler and Kusal Mendis at second slip – combined again to send Aslam back.
Stat of the day Haris Sohail took three wickets for one run in the only over he bowled, to end the Sri Lanka second innings in a hurry. That was as many as he had managed in total in his 10-year, 58-match first-class career to date. It was also the first time a bowler had taken three wickets having bowled just one over in an innings in Tests.
The verdict Just 119 more and with five wickets remaining seems like a perfectly attainable target for Pakistan. Factor in the fact the pitch is worn, is turning prodigiously, and that Sri Lanka’s seam bowlers have also been finding the strip to their liking, it is apparent the task is still a tough one. Still, though, thanks to Asad Shafiq and Sarfraz Ahmed, it is possible.
