The Hatta Traders Council will be the first of a series of initiatives that will be launched to support the ideas of Emirati youth and ensure the growth and success of their businesses
Author Archives: Abdul Rawuf
Abdel Fattah el-Sisi
Abu Dhabi Crown Prince, President of Egypt, and King of Jordan discuss impact of Ukraine crisis
The leaders discussed the need to strengthen joint Arab action and address the crises threatening the region’s security and stability
electricity storage
H2 Industries, Madayn to develop $1.4 billion waste-to-hydrogen plant in Oman
The green hydrogen produced at the facility in Oman can be sold and transported for international use or, alternatively, H2 Industries can create low-cost synthetic diesel (eDiesel) or sustainable aviation fuel (SAF), with the captured CO2
Al Zorah
Construction works begin on luxury golf clubhouse to complement 18-hole championship course
The luxury golf club will be complemented by full golf and leisure facilities, including a purpose-built gymnasium, golf shop, tennis courts, and swimming pool for adults and kids to utilise for fitness and leisure
Abdulaziz Al-Duailej
What factors are likely to hamper the recovery of the aviation sector and global travel in 2022?
There is a clear need for countries to work together to harmonise health requirements for passengers to spur recovery in travel in 2022, the Saudi Minister of Transport and Logistics said
2021 Annual Sustainability Report
Masdar’s clean energy portfolio displaces 7.5 million tonnes of carbon dioxide in 2021
In 2021, Masdar committed to more than $3 billion in renewable energy investments, bringing the combined value of its renewable energy portfolio to more than $20 billion
Abu Dhabi
Demand for warehouses rises in the UAE as Covid drives “permanent shift” in consumer shopping habits
Change in ownership laws announced as part of a raft of economic stimulus measures, which include a range of new visas, are a significant contributor to increased business confidence, activity, and demand in warehouses and industrial real estate
Artificial intelligence
How AI can improve the corporate ESG bottom line
74 percent of people in the UAE believe bots will succeed where humans have failed with corporate sustainability
digital transformation
Saudi Arabia launches new sandbox for tech service providers
The initiative is in line with the Communications and Information Technology Commission’s aim to accelerate digital transformation across all sectors
5G
UAE’s du and Huawei to train GCC talent
A leadership training programme will take place in the UK and Germany in partnership with business schools and the Chinese telecom giant
Budgeting
Fintech startup FlexxPay launches in Egypt
Around 20 million people in this new market could benefit from early wage access
Ayman Gharib
Eid al-Fitr holidays fuel in-bound tourism while UAE residents eye global destinations
Hospitality experts point to high occupancy rates and bookings during Eid al-Fitr break as eased Covid restrictions attract travellers to the UAE’s shores
banking business
Sharjah Islamic Bank reveals 13.9 percent increase in net profits to $50.9 million in Q1 2022
Revenues were driven by the UAE’s economic rebound, the bank’s focused customer-centric approach, and multiple new high profit-oriented products, the bank said
acquisitions
“Uncertain macro environment” contributes to softened volume growth for DP World in Q1 2022
DP World’s gross container volumes increased by 1.7 percent year-on-year on a reported basis and up 1.9 percent on a like-for-like basis
Century Financial
Why inflation is here to stay
Ongoing geopolitical tensions and supply-side bottlenecks are driving a global increase in fuel and wheat prices
Abu Dhabi
ADNEC contributes $653.4 million to the Abu Dhabi economy after diversifying its portfolio in 2021
In 2021, ADNEC launched Tourism 365, to create experiential travel opportunities for tourists coming to Abu Dhabi, and to enhance the emirate’s regional and global position in the wider tourism sector
business opportunities
Golden Visa rules have changed the UAE’s talent supply and demand equation
Ayman Kattan, the chief people officer at Bayzat, shares how the new long-term visa and UAE entry permit rules create opportunities for the agile, but pose a threat for firms that don’t invest in talent development
Abu Dhabi
Ministerial council discusses measures to boost UAE investments abroad
The council also discussed legislations around adding financial fines to the list of disciplinary measures imposed on private health facilities that do not follow the law
Careem
Revealed: You can now request and send money to any user in the UAE through the Careem Pay app
Money from the Careem Pay digital wallet can be withdrawn to any UAE bank account, and will soon be directly usable for goods and services beyond the Careem app
DIFC Employee Workplace Savings Plan
Renewed focus on employee benefits is critical to economic growth
Employees all over the world are generally underwhelmed with benefits, and firms in the UAE now have an opportunity to gain an edge in the war for talent by focusing on financial well-being and protection
Brand engagement
Engaging with tech-savvy millennials across digital touchpoints will define the future of consumer brands
Internet penetration in the UAE is expected to reach 96 percent by 2025, with 67 percent of Middle East consumers choosing digital channels to engage with brands
CNN
CNN+ streaming service shuts down a month after its launch while Netflix reports loss of 200,000 subscribers
CNN+, which spent approximately $500 million on its app crossed only 100,000 subscribers in its first week, becoming an early target as CNN came under new management earlier this month, a report stated
Dubai
Future unicorns born and bred in the UAE will trace their roots back to the Golden Visa: expert
The aggregate gain of attracting the brightest and the best from the region and beyond through the Golden Visa in the years to come will be invaluable, the CEO of Emerging Markets Intelligence & Research said
Eid
Eid al-Fitr holiday dates revealed for the UAE public and private sectors
The UAE Cabinet and the Ministry of Human Resources and Emiratisation have announced the holiday dates to mark Eid al-Fitr
Al Jaddaf Rotana
UAE hospitality sector welcomes higher occupancy as Golden Visa rules outshine Covid gloom
The UAE Cabinet’s new Golden Visa regulations will lead to increased bookings as investor interest rises, and long-term entry permits welcome more visitors to the nation’s hospitality offerings, an expert said
Dubai
Dubai FDI holds workshop to qualify public and private sector leaders in foreign direct investment
The workshop was led by Carolina Arriagada Peters, the managing director of Cities and Collaboration and founder of fdiCampus, and the lead author of Dubai FDI’s guide on foreign investment in Dubai
Crypto economy
Restaurants and consumers can now use crypto to settle bills on Dubai-based My Menu digital platform
My Menu operates in 3500+ restaurants, and 450+ hotels across 70+ countries, and is used by a number of popular hotel brands, including Sofitel, Fairmont, Raffles, Marriott, JW Marriott Marquis, Sheraton, Westin, and Le Meridien, among others
insurance
How insurtech demystifies insurance by making it simpler, accessible, and easier to understand
“With insurtech, we’re typically trying to give more detailed data that helps the industry price the risk better. At the same time, it makes insurance, or the product, simpler for consumers,” says CEO of insurtech policybazaar
expat workers
Saudi Arabia expat worker numbers decline in 2021; eased Covid measures likely to spur rebound
Participation of Saudi nationals in the labour force rose to 51.5 percent by the end of 2021, up marginally from 51.2 percent in 2020
Abdulla Almoayed
DIFC’s Tarabut Gateway becomes UAE’s first regulated Open Banking platform with DFSA license
The license marks the first time the DFSA has authorised a firm to provide account information services (AIS) and payment initiation services (PIS) activities
Discovery Inc
Netflix shares plunge 35%, erasing $54bn of market value, after losing 200,000 subscribers in Q1 2022
Netflix is seeking ways to stop a loss of subscribers and combat investor fears that its best days are over
Corporate tax UAE
UAE companies to start preparing for generational tax transformation
Although corporate income tax goes into effect in 2023, organisations should understand what it means for them and hire resources early as the talent ‘race’ is magnified, PwC expert said
DIAC
Sheikh Hamdan marks opening of University of Birmingham Dubai’s 30,000 square metre campus
The institution is among the top 100 universities in the world, and 10 of its researchers have received the Nobel Prize, Sheikh Hamdan said
3D virtual worlds
Reasons why the metaverse will have a transformational impact on businesses and the way people live
Approximately 84 percent of consumers surveyed in the UAE agree that they are spending substantially more time online compared to pre-pandemic levels, an Accenture report reveals
cyber attack
Boosting cyber resilience through structured preventive, detective, responsive, and recovery methods
As work-from-home and hybrid working models are fast becoming the norm and next-generation technologies in cloud and IoT are adopted, there is an ever-evolving need for organisations to level up their cybersecurity requirements
Brand View
Resecurity’s cyber threat intelligence for SAMA compliance protects Saudi’s financial services sector
Cyber threat intelligence has become mandatory for financial institutions in the Saudi Arabia to achieve SAMA Cybersecurity Framework Compliance
Dubai Carbon Centre of Excellence
Spinneys becomes first retailer to join ‘Food for Life’ initiative in support of UAE’s target to halve food waste by 2030
According to Dubai Carbon Centre of Excellence, food wastage in the UAE is estimated to be 3.2 million tonnes, with around 38 percent of the food prepared daily being wasted
Emaar
Emaar Properties safeguards “robust business performance” in 2021 with stringent measures
Emaar reported substantial sales backlog totaling more than $12.539 billion, which will be recognised as revenue over the next few years
Aesthetic surgery
Why aesthetic surgery is booming in the Middle East
Dr. Sanjay Parashar, Consultant Plastic Surgeon and CEO of Cocoona explains why interest in aesthetic surgeries has increased over the last couple of years
787 Dreamliner
Etihad Airways set to begin week-long intensive research and testing on over 30 flights to reduce carbon emissions
Etihad will also operate up to 13 dedicated ‘EcoFlights,’ testing a range of flight and engine optimisation initiatives, with successful trials to be incorporated into regularly scheduled operations
3D virtual worlds
Should luxury brands step into the metaverse?
Used correctly web 3.0 can benefit brand legacy, but the digital and physical must find a way to co-exist in perfect harmony to reap full benefits of this new world
cepa
How investors can capitalise on the India-UAE CEPA deal through the Ministry of Economy’s new info hub
The portal provides detailed information on all 18 chapters of the CEPA and lists simple steps that companies in the UAE can adopt to forge or expand their business relationship with the Indian market
Esin Güral Argat
Why women will shape the next generation of leadership
No woman should be kept away from her work life due to family duties and supporting work-life balance is key to gender equality, said Gürok Group exec
10-year visa in UAE
Golden Visas will attract top talent, but recruiters must ensure a good experience
Recruiters provide many with their first flavour of the region, and for many that experience is below expectations
Connectivity
Will “regenerative leadership” overtake ‘purpose’ as this year’s buzzword?
There is no doubt that we need purpose in our work, or that purpose is the driving force for so much of the positive change we are seeing seep into the corporate world, but is purpose alone enough to turn around the organisations of the future?
10-year visa in UAE
Golden visa rules will “significantly bolster” interest to work in the UAE: ADGM Courts’ Chief Executive
With the new rules, the criteria to apply for the 10-year visas have been relaxed, making it easier for investors, start-up owners, and highly skilled professionals to live and work in the UAE
Corporate tax UAE
Dubai’s Deputy Ruler says tax systems to be upgraded in “sweeping developments” as compliance grows
The UAE’s Federal Tax Authority reported a 2.42 percent increase in the number of VAT registrants to 367,157 in the first quarter of 2022, compared to 358,468 in 2021
business opportunities
UAE, Japan to build partnerships on future economic trends such as AI, space, smart transport, Dr Thani Al Zeyoudi says
UAE is Japan’s largest Arab trading partner and accounts for 36 percent of its total trade with Arab countries
10-year visa in UAE
Video: UAE long-term visas – Top 10 changes you need to know
For residents, visitors, investors, and jobseekers who are still a bit unclear on what changes have been made to the UAE Golden Visa residency programme, which was first implemented in 2019, here’s a quick wrap up
AB In Focus
Netflix rival Starzplay’s Maaz Sheikh on the UAE’s home-grown success stories
Dubbed the Emirates’ rival to Netflix, the UAE streaming service has signed a deal with E-vision from e& and ADQ, an Abu Dhabi-based conglomerate, to acquire a majority stake – 57 percent – based on a post-money valuation of $420 million. The CEO and co-founder Maaz Sheikh sits down with Arabian Business
Omar Bin Sultan Al Olama
World Economic Forum picks UAE Minister for its Young Global Leaders community to tackle future challenges
Omar bin Sultan Al Olama, the UAE Minister of State for Artificial Intelligence, Digital Economy, and Teleworking Applications, was chosen in recognition of his role in implementing AI solutions, promoting the digital economy, attracting coding talents, and developing their capabilities
agriculture in UAE
UAE leads strong charge to fix broken food systems, feed millions, and address climate change, Minister says
Mariam bint Mohammed Almheiri, the UAE Minister of Climate Change and Environment, explains why it has become increasingly critical to spur local production, agri-tech innovation, and support the ease of doing business in order to overcome food security challenges while reducing greenhouse gas emissions
AB In Focus
UAE Minister Mariam bint Mohammed on the critical need to address food security here and now
If we can show how we grow food in hot arid climates in a water-scarce country with limited arable land, then we can solve a lot of the food systems problems around the world, the UAE Minister of Climate Change and Environment said
carbon footprint
General Motors regional division drives towards goal of 95 percent reduction in carbon footprint by 2024
By 2035, GM operations in the UAE will have reduced carbon emissions by approximately 24,000 metric tonnes, equivalent to planting approximately 876,000 trees, from a 2022 baseline