Saudi Arabian start-up Salasa has secured $30 million from various investors, including Aramco’s venture capital fund, to scale operations.

The Series B funding round was led by Artal Capital, with participation from Saudi Venture Capital Company, Wa’ed Ventures, 500 Global and Alsulaiman Group.

Salasa is an e-commerce fulfillment platform catering to more than 1,000 merchants, including major businesses like Noon and Amazon.

The company intends to use the fresh capital to further leverage artificial intelligence (AI) in creating a more predictive and automated logistics system. It also looks to expand its cross-border reach.

News Credits- ZAWYA BY LSEG

Lawrence Tse has been appointed as the first-ever head of e-commerce at Menzies Aviation, a leading partner for airport and airlines around the world.

He will be responsible for developing and implementing a joint e-commerce strategy for Menzies Aviation and Air Menzies International (AMI) with the aim of positioning group as a leading provider of e-commerce cargo solutions globally.

Tse brings with him a wealth of industry knowledge and leadership experience in e-commerce and air cargo, having held senior director roles at several major logistics firms. He joins Menzies from CEVA Logistics, where he managed global key accounts within the e-commerce division.

Beau Paine, executive vice president of cargo at Menzies Aviation, said, “We’re delighted to welcome Lawrence to the team. His expertise in both e-commerce and air cargo, combined with his experience leading strategic initiatives at global logistics firms, makes him an ideal fit.

“The creation of this new role reflects our commitment to scaling our e-commerce capabilities across the Menzies network. With Lawrence’s leadership, we’re well-positioned to meet the demands of this fast-moving sector and deliver strong, customer-focused solutions.”

Tse added, “I’m excited to join Menzies at such a transformative time for the cargo and e-commerce industries. The opportunity to shape and drive a global e-commerce strategy across both Menzies Aviation and Air Menzies International is one I’m excited to take on. I look forward to working with teams across the business to deliver customer-centric solutions that unlock new growth.”

Author Credits- HAZEL KING
Parcel and postal technology INTERNATIONAL

Colgate-Palmolive (CL.N) beat first-quarter sales and profit estimates on Friday, as resilient demand for its essentials such as oral and personal care products overcame rising prices and tariff uncertainties.

WHY IT’S IMPORTANT

Colgate-Palmolive joined peers such as Procter & Gamble(PG.N) and Kimberly-Clark (KMB.O) in posting upbeat sales growth, unlike the broader retail sector that has been struggling with a slowdown in discretionary spending.

The Trump administration’s shifting trade policies have forced several companies to hike prices, pushing shoppers to focus on essentials.

CONTEXT

Colgate has raised prices over the past few quarters to counter tariff impacts and higher advertising and marketing costs. The marketing campaigns have helped increase the sales.

The company, which makes U.S. toothpaste in Mexico, now expects incremental costs from tariffs to be about $75 million, lower than $200 million projected earlier, as it expects more favorable rates.

It also outlined a five-year cost cutting plan.

BY THE NUMBERS

Sales rose 8% in Africa and 7.8% in Europe from a year ago.

The company expects organic sales growth to be at the low end of its forecast range of 2% to 4%.

Its prices rose 2% in the quarter ended June 30 and total organic volumes slipped 0.2%, compared with a year ago.

Colgate-Palmolive’s adjusted profit of 92 cents per share in the first quarter topped analysts’ estimates of 90 cents per share, according to data compiled by LSEG.

It posted quarterly net sales of $5.11 billion, beating estimates of $5.03 billion.

MARKET REACTION

Shares of the company were flat in premarket trading.

News Credits- Reuters