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Egypt to Host Huawei's First MENA Cloud Platform

Huawei will create its own cloud computing through the data centre of Telecom Egypt. (Reuters)
Huawei will create its own cloud computing through the data centre of Telecom Egypt. (Reuters)
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Egypt to Host Huawei's First MENA Cloud Platform

Huawei will create its own cloud computing through the data centre of Telecom Egypt. (Reuters)
Huawei will create its own cloud computing through the data centre of Telecom Egypt. (Reuters)

Egypt will host Chinese telecom company Huawei's first cloud data platform in the Middle East and North Africa, Egypt's telecom ministry said in a statement.

"Huawei will create its own cloud computing through the data center of Telecom Egypt", a statement by the ministry said Monday, referring to the North African country's state-owned telecom company.

The two firms signed a memorandum of understanding to establish Huawei's "first cloud computing in Africa and the Middle East" on the sidelines of the Mobile World Congress in Barcelona, the statement added, according to AFP.

Cloud computing technology is a means of storing and accessing data over the internet instead of on hardware devices.

Huawei is a major seller of handsets in Egypt.

The firm is seeking to expand in Africa -- including through surveillance technology, on a continent where personal data protection laws are less stringent than in Europe.

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China’s Pop Mart, Maker of the Labubu Doll, Says Profit Soars Nearly 400% in First Half 

A Labubu toy is placed at a host stand of a restaurant serving dessert in the shape of Labubu monster figurine, in Moscow, Russia June 27, 2025. (Reuters) 
A Labubu toy is placed at a host stand of a restaurant serving dessert in the shape of Labubu monster figurine, in Moscow, Russia June 27, 2025. (Reuters) 
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China’s Pop Mart, Maker of the Labubu Doll, Says Profit Soars Nearly 400% in First Half 

A Labubu toy is placed at a host stand of a restaurant serving dessert in the shape of Labubu monster figurine, in Moscow, Russia June 27, 2025. (Reuters) 
A Labubu toy is placed at a host stand of a restaurant serving dessert in the shape of Labubu monster figurine, in Moscow, Russia June 27, 2025. (Reuters) 

China's Pop Mart, which has taken the world by storm with its ugly-cute Labubu doll, reported a nearly 400% first-half net profit on Tuesday on high demand for the toys and a shift towards higher-margin overseas markets.

Net profit of 396.5% and a 204.4% jump in revenues exceeded numbers flagged in an earnings preview last month forecasting revenue growth of 200% in the first half of 2025 and a recurring net profit increase of at least 350% on the year.

Shares in Pop Mart have risen more than 200% year-to-date, making the Chinese toy company more valuable than traditional industry giants like Barbie-maker Mattel and Hello Kitty parent company Sanrio.

Pop Mart often sells its collectable figurines in so-called "blind boxes" with buyers not knowing the exact design they will receive until they open the packaging.

One of the major drivers of the toothy-grinned Labubu's success has been its popularity with celebrity fans, who include Lisa of K-pop group Blackpink, singer Rihanna and ex-soccer star David Beckham.

Pop Mart is pledging to increase the supply of the dolls, which have sold out in stores around the world.

Its CEO Wang Ning, in an interview with Chinese state media last month, said sales of Labubu will surpass 10 million units per day from September this year.

Pop Mart classifies Labubu under its "The Monsters" intellectual property (IP) characters. It said on Tuesday that "The Monsters" raked in 4.81 billion yuan ($669.88 million) in the first half, accounting for 34.7% of total revenue.

Four other IPs earned over 1 billion yuan during the period, including "Molly" and "Crybaby", it added.

The company now has 571 stores - 40 of which it opened in the first half of this year - as well as 2,597 automated robot shops across 18 countries and regions, it added.