The Qatari conglomerate Ghanim Bin Saad Al Saad & Sons (GSSG) Holdings has acquired 80 per cent of the broadcasting services company Salam Media Cast in a "multimillion-dollar" deal.
Salam Media Cast, also based in Qatar, is in media, broadcast and telecommunications, and has the satellite-TV giant MBC as a client.
The company, a subsidiary of Salam International, supplies equipment for TV stations and studios, as well as providing training and post-production services. Its other major clients include Al Jazeera, CNBC and Etisalat, according to the company's website.
Sami el Shafai, the executive director of operations for Salam International, said the GSSG acquisition represented a "multimillion-dollar" deal, but declined to specify the exact value.
"The Salam name will remain," said Mr el Shafai. "We will expand in terms of investment, because we have to hire new people [and seek] new business."
The company has a range of customers across the Gulf and in Egypt, Iraq, Pakistan and the Levant. "Every broadcaster, every station, every production house is our customer," said Mr el Shafai.
Salam International is listed on the Doha Security Market and Dubai Financial Market.
"Salam International will [retain] 20 per cent of Salam Media Cast," said Mr el Shafai. Revenues will be shared "according to the equity of each one", he said.
Salam Media Cast will become part of GSSG's recently launched subsidiary Media Group, which it says will focus on media production, public relations and event management.
Muhammed al Hammadi, the deputy chairman of GSSG, said the expansion of the services offered by Salam Media Cast would be concentrated on the Gulf region. "We can help them to open in new markets … We concentrate in our own markets, especially in Qatar," he said.
"This is our first investment in the media sector," Mr al Hammadi added.
bflanagan@thenational.ae
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What is Genes in Space?
Genes in Space is an annual competition first launched by the UAE Space Agency, The National and Boeing in 2015.
It challenges school pupils to design experiments to be conducted in space and it aims to encourage future talent for the UAE’s fledgling space industry. It is the first of its kind in the UAE and, as well as encouraging talent, it also aims to raise interest and awareness among the general population about space exploration.
It's up to you to go green
Nils El Accad, chief executive and owner of Organic Foods and Café, says going green is about “lifestyle and attitude” rather than a “money change”; people need to plan ahead to fill water bottles in advance and take their own bags to the supermarket, he says.
“People always want someone else to do the work; it doesn’t work like that,” he adds. “The first step: you have to consciously make that decision and change.”
When he gets a takeaway, says Mr El Accad, he takes his own glass jars instead of accepting disposable aluminium containers, paper napkins and plastic tubs, cutlery and bags from restaurants.
He also plants his own crops and herbs at home and at the Sheikh Zayed store, from basil and rosemary to beans, squashes and papayas. “If you’re going to water anything, better it be tomatoes and cucumbers, something edible, than grass,” he says.
“All this throwaway plastic - cups, bottles, forks - has to go first,” says Mr El Accad, who has banned all disposable straws, whether plastic or even paper, from the café chain.
One of the latest changes he has implemented at his stores is to offer refills of liquid laundry detergent, to save plastic. The two brands Organic Foods stocks, Organic Larder and Sonnett, are both “triple-certified - you could eat the product”.
The Organic Larder detergent will soon be delivered in 200-litre metal oil drums before being decanted into 20-litre containers in-store.
Customers can refill their bottles at least 30 times before they start to degrade, he says. Organic Larder costs Dh35.75 for one litre and Dh62 for 2.75 litres and refills will cost 15 to 20 per cent less, Mr El Accad says.
But while there are savings to be had, going green tends to come with upfront costs and extra work and planning. Are we ready to refill bottles rather than throw them away? “You have to change,” says Mr El Accad. “I can only make it available.”
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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
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Red Joan
Director: Trevor Nunn
Starring: Judi Dench, Sophie Cookson, Tereza Srbova
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Stars: Cate Blanchett, Kevin Kline, Lesley Manville
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