Photo used for illustrative purpose.
Gulf Today Report
The world is going to face another recession this year, claims the World Bank. That would mean businesses around the globe, which include American companies, are in terrible economic turmoil.
Sandwiched between financial headwinds, there is speculation that the global fast-food chain Subway may be putting itself up for sale. The Connecticut-based company, known for its signature foot-long submarine (sub) sandwiches, apart from wraps, has asked advisers to explore a sale, according to a report in Indo-Asian News Service, quoting the Wall Street Journal.
The firm is now worth $10 billion.
The process may attract potential corporate buyers and private-equity firms. However, there is also the possibility that the sale may not go ahead at all.
Control over the firm has been in the hands of the families of its co-founders since its inception.
It was established by 17-year-old Fred DeLuca and financed by Peter Buck in 1965 as 'Pete's Super Submarines' in Bridgeport, Connecticut. Buck lent DeLuca $1,000 to open a sandwich shop in Bridgeport, Connecticut, in 1965 and helped co-found the chain. He died in 2021.
Subway has over 40,000 outlets in over 100 countries around the world. It opened its first global store in the Arabian Gulf – Bahrain, to be precise, in December 1984.
Global sales hit a record high in 2012, when they reached $18 billion. Subway started stumbling in the last decade, while several competitors also surfaced
The fungus known locally as "Terfas" is the only thing, besides some wild grass, that grows under the desert sands nurtured by the combined effect of rain and cold temperatures at night.
The various types of flours available in the market are bound to confuse anyone who wanders down that particular supermarket aisle. Read on to find out the healthiest to pick.
Even though water is best for quenching thirst at Iftar but it can get quite boring. Instead, try these tasty and healthy alternatives to hydrate yourself.
This season, the Lebanese designer used the Thai kingdom as a springboard for a highly embellished, yet delicate, couture collection.
The diet consists of 80 per cent nutrient-dense food, such as protein, fibre, vitamins, and carbohydrates, and 20 per cent treats.
The director of the Duke and Duchess of Sussex’s Netflix docuseries “Harry and Meghan” has claimed that Buckingham Palace attempted to “discredit” the show after it aired.