“We don’t monetise many of the services where we’re seeing increased engagement, and we’ve seen a weakening in our ads business in countries taking aggressive actions to reduce the spread of COVID-19,” the company said in a statement.
UAE, KSA, Kuwait to Enhance Bahrain Fiscal Stability
The Ministers of Finance of the Kingdom of Saudi Arabia, the United Arab Emirates, the State of Kuwait…
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The company said messaging across its platforms had increased more than 50% over the last month in many of the worst affected countries. In Italy specifically, users have been spending 70% more time in its apps.
Group calling with three or more participants increased by over 1,000 per cent in Italy in the last month.
Facebook declined a request for comment on precisely which of its markets were experiencing adverse business impact or the magnitude of that impact.
The company’s statement echoes similar industry guidance the day before from Twitter Inc TWTR.O, which reported a boost in active users but pulled its first-quarter revenue outlook and forecast an operating loss due to the outbreak.
Many advertisers have pulled marketing budgets to rein in costs because of virus-related uncertainty. Some are also apparently hesitant to advertise alongside coronavirus discussions for fear of associating their brands with the sensitive topic.
Nvestox management had already staggered a ‘loop-work’ environment within their key teams trading all major global exchanges, so…
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The Arab states of the Persian Gulf are the seven Arab states which border the Persian Gulf, namely Bahrain, Iraq, Kuwait, Oman, Qatar, Saudi Arabia and the United Arab Emirates (UAE).This excludes the non-Arab state of Iran. All of these nations except Iraq are part of the Gulf Cooperation Council (GCC).
