The Swiss private bank has been serving clients in the Middle East for over half a century, and is equipped with a deep understanding of their specific needs
Author Archives: Abdul Rawuf
District 2020
District 2020: Dubai’s 15-minute city of the future
Sanjive Khosla, senior vice president at District 2020, shares the three principles underpinning Dubai’s emerging human-centric sustainable smart city
Hiring
UAE, Saudi Arabia seeing surge in top-end talent flow from India
Latest uptrend is said to be triggered by the combined effects of the post-pandemic flurry of corporate expansion plans in the region, and the ongoing investor and professional-friendly policies initiated by the UAE authorities
Commercial resilience
Dubai ranks first in Arab world on latest Innovation Index
Released on the sidelines of the 12th World Chambers Congress in Dubai, the latest Dubai Innovation Index Report analyses innovation output across 39 global cities
CSR
Chambers look to younger generations for innovation inspiration
Industry experts at the World Chambers Congress in Dubai discuss key trends and traits demonstrated by Generation Z
Digital Fitness Test
Global chambers test their digital fitness with new tool launched at 12WCC in Dubai
Launched at the 12th World Chambers Congress in Dubai, the Digital Fitness Test was designed specifically for chambers of commerce
Arabian Business
Arabian Business Awards return to honour 50 years of the UAE and 50 years ahead
From celebrating businesses that helped build the UAE, to championing the innovators of the future, our glittering event promises to be the ‘Oscars’ of Emirates’ industry
data centre
Mubadala mulling investment in Singapore-based Princeton Digital
Abu Dhabi sovereign fund is likely to become the anchor investor of the round, according to sources
Chamber Model Innovation
How Dubai played a leading role in helping to reshape chambers of commerce
Dubai recently hosted the 12th World Chambers Conference, held under the theme ‘Generation Next: Chambers 4.0 – Transforming Disruption into Opportunity for Global Business’. In an exclusive interview with Arabian Business, CEO of Dubai Chamber, Hamad Buamim revealed the key takeaways from the event
Arabian Business
Join UAE’s 50th anniversary celebrations with 50% off Arabian Business subscription
Arabian Business is offering 50% off annual subscriptions for a limited time in celebration of the UAE’s golden jubilee
ADIPEC
Cloud integration, innovation crucial tool for oil and gas industry throughout energy transition: Experts
The only way to reduce emissions is with effective measurements, according to experts
Dubai tourism
Expo 2020 Dubai welcomes almost 4.8m visitors
Virtual visits to the global showcase has reached 23.5 million
Air travellers
Omicron: ‘Back to square one for aviation’
It has become crystal clear that multilateralism will play a vital role in the post Covid-19 recovery process of our beloved aviation industry
BULGARI Residences Jumeira Bay
Dubai penthouse at Jumeirah Bay sold for over $10.9m
Half-floor property, with a built-up-area (BUA) of 6,550 sqft, boasts dual views of the Dubai skyline was sold by Luxhabitat Sotheby’s International Realty
Dubai property market
House prices in Dubai jump 21% as ultra-high net worth individuals flock to the city
Knight Frank reveal $10 million-plus home sales now account for 7 percent for all transactions in the city by value, compared to a long-term average of just 2 percent
GCC IPO market
Saudi stock exchange sets IPO price at top end of range
Riyadh-based stock exchange set a valuation of $3.4bn
Dubai housing projects
Sheikh Mohammed approves $1bn Dubai housing projects
As part of the new projects, 2,000 plots of land will be distributed to Emirati citizens together with 900 ready-made villas
Laws
UAE legal reforms to make ‘tangible positive impact’
Ahead of the United Arab Emirates’ 50th National Day, the new laws will help attract foreign talent and investors
Middle Eastern stock markets
Covid-19 variant sends Middle East stocks into nosedive after oil slump
Dubai’s benchmark gauge dropped the most, tumbling 5.2 percent as of 3:40 p.m. local time, its sharpest loss since March 2020
clean energy
G20 businesses commit to net zero amid green energy transition
The top three strategies organisations are using to meet net zero goals were: reducing own emissions, acquiring carbon offsets, and investing in renewable energy projects
carbon emissions
Emirates Global Aluminium, GE sign pact to cut greenhouse gases
EGA is equally owned by two sovereign wealth funds – Investment Corp. of Dubai and Abu Dhabi’s Mubadala Investment Co
Damac Properties
Dubai billionaire Sajwani acquires 95.5 percent of Damac shares
Sajwani, who founded Damac, announced his intention to take the company private, resigned as the property giant’s chairman, and made a conditional offer to buy the company’s remaining shares
Abu Dhabi Investment Office
Amazon’s upcoming Abu Dhabi fulfilment centre set to drive the capital’s SME growth
Expected to launch in 2024, the centre will be an ‘empowering tool for small businesses enabling them focus on their growth,’ Amazon Middle East VP told Arabian Business
healthcare innovation
How digital innovations are transforming UAE’s healthcare sector
From systems to access patients’ data or manage coronavirus cases, technology has allowed for the ‘breaking of silos between healthcare providers,’ said the director of Digital Health Department at Ministry of Health and Prevention
corporate governance
The G is not silent in ESG
Historically, the environmental (E) and social (S) aspects of ESG have tended to overshadow governance (G) features
Business activity
Dubai’s Department of Economy and Tourism issues over 10,700 licenses
Instant licenses, issued by the emirate’s Department of Economy and Tourism, are issued to businesspeople so they can establish and operate a business in Dubai after obtaining a license in a one-step, five-minute process through Invest in Dubai
business strategy
Resurrection: The sustainable turnaround approach for latent zombies
This second of the two-part series examines zombie companies, their impact on stakeholders and the overall economy, as well as suggestions on what actions stakeholders should take to achieve a sustainable turnaround for a latent zombie and a path to future growth
coronavirus crisis
Omicron Covid-19 variant means airlines and passengers are ‘back to square one’
UK officials say that anyone entering the UK will require a PCR test by the end of the second day after their arrival
cruise tourism
Why Dubai is a must-visit destination for global cruise tourism
A total of 126 ship calls and over 500,000 cruise visitors are expected to visit the city in the upcoming 2021/22 cruise season
Dubai bourse
Dubai bourse to see debut of India’s fund manager and start-up founder Nikhil Kamath
Several other Indian firms are also expected to follow suit as Dubai seeks to strengthen its position as a global markets hub with a series of announcements on financial incentives and listing plans for marquee state-owned biggies
F&B brands
Bahrain’s Investcorp leads $17m investment in Indian F&B firm
Founded in 2011, Wingreens is focused on creating minimally processed products using high quality ingredients that are sustainably sourced
Abu dhabi tourism
ADNEC to acquire Etihad Holidays
Etihad Holidays will integrate with Tourism 365, being the ADNEC tourism promotion business
business licenses
Saudi Arabia grants nearly 600 foreign investor licenses for summer 2021
A total of 174 licenses were issued for the retail and e-commerce sector, with manufacturing (104), construction (87), ICT (52), and professional and scientific (50) sectors, accounting for more than 81 percent of new licenses awarded in this quarter
economic outlook
Oil price spike and the Expo – twin boosts for the Gulf economies
While the sharp recovery in global trade post-Covid has largely peaked, economies in the Gulf region are benefiting from the current spike in oil prices, as the gas price crunch has spilled over into the oil market
crypto assets
Dubai-headquartered crypto ratings platform evai.io’s fund sees $1m in 24 hours
Evai.io is a crypto ratings platform through which live crypto asset data is evaluated daily against several key economic factors by AI and machine learning
uae businesses
Why UAE’s recent legislative reforms are a ‘last sprint’ towards the Golden Jubilee
Expat-friendly initiatives over the past two years are part of a ‘big marathon’ to make the country more attractive to live in
business environment
Zombie companies: Latent or irrecoverable?
This first piece in a two-part series examines zombie companies, their impact on stakeholders and the overall economy, as well as suggestions on what actions stakeholders should take to achieve a sustainable turnaround for a latent zombie and a path to future growth
Blockchain
Why now is the right time to invest in the ‘metaverse’
NFTs are the future of businesses with applications across art, communications and retail, panelists at Sharjah Entrepreneurship Festival agreed
E-commerce
Cairo-based home goods marketplace Homzmart sets sights on Saudi expansion
General e-commerce in the kingdom is growing extremely fast – 35 percent a year – one of the fastest growth rates in the Arab world
corporate social responsibility
Why social impact bonds are the future of giving in the region
This contract type creates a sustainable impact which is what investors are after nowadays, said an executive director at Abu Dhabi’s Authority of Social Contribution – Ma’an
airline business
Aviation Business Middle East Awards winners announced
Thirteen winners in 13 categories were chosen, showcasing the trade’s innovations and resilience
Floating Industrial City
Saudi prince’s ‘Neom’ to expand port to rival region’s biggest
Neom is looking at connecting Oxagon’s port with northeastern Saudi Arabia and the broader region first by road transport and later by rail
Metropolitan Group
How focusing on company culture turned this real estate agency into high performing business
Following the Covid lockdown, Metropolitan’s management made it a priority to create an inclusive and supportive working environment, where employees would feel part of a larger, extended family
diversity and inclusion
Growing workplace diversity and inclusion through AI
Dubai-born Wild Consult is using artificial intelligence to pinpoint gender equality challenges and support corporates in addressing them
automobile industry
Dubai’s SellAnyCar.com reveals $122m regional expansion plan with Carnab.com
Founder Saygin Yalcin told Arabian Business the continued success of the online car buying and selling service, which started selling to consumers two years ago, will hammer a further nail in the coffin of traditional automobile retailers
Air travellers
Why UAE residents are ‘driving force for return of international travel’
Country’s high rate of vaccinations and dominance of two major airports brought stability to flyers’ behaviours, new research shows
Dubai financial freezone
Land plot sold in Dubai’s financial hub for $78.7m
Total gross development value of project is estimated at $544.5m and expected to include hospitality, retail and residential usage mix
economic outlook
Inflation: A threat for your investments?
We do not believe in hyperinflation and in an overreaction from central banks, which would be the most damaging scenario for investments
50th UAE National Day
Authorities announce UAE 50th National Day holidays
According to the Federal Authority for Government Human Resources, holidays for federal entities and ministries will start from Wednesday, December 1 and run through to Friday, December 3
business success
‘Careem Cartel’ reveal secrets behind start-up’s success
Former and current employees appeared in a panel discussion at the Sharjah Entrepreneurship Festival
business funding
Dubai-based YallaMarket raises $2.3m in latest funding round
Funding will be used to fuel expansion from current six dark stores in Dubai to 100 stores across the UAE, with plans to enter Qatar by the end of 2022
Dubai luxury real estate
India’s Shapoorji Pallonji Group said to be in talks to sell Dubai luxury properties
Group’s move on monetising some of its properties comes at a time when the real estate sector is on an upswing in the UAE, riding on the country’s faster than expected economic recovery post-pandemic
Africa and Middle East
Uganda looking to strengthen Middle East ties with eyes on China
UAE is the East African country’s largest trading partner in the region, with exports growing from $300 million when diplomatic relations were established in 2009, to $1.85 billion in 2020
business ideas
What investors want in a start-up: A good founding team, and a good business idea
Founding partner of Shorooq Partners Mahmoud Adi says in early stage companies, the founders are evaluated as much as the business idea