Analysis Development How the UAE makes friends and influences people A World Expo, Mars Mission, ownership of a Premier League football club and a Tour de France victory are among the success stories that have raised the UAE’s international standing as a soft power Seduction is always more effective than coercion. So said author Joseph Nye when he introduced the concept of soft power in […] June 11, 2022
Media & Advertising Saudi’s leading cinema group to make films for Arabs by Arabs The kingdom of Saudi Arabia announced the lifting of its 35-year ban on cinemas four years ago. The industry has since seen exponential growth and Arabic language films have been the most popular among moviegoers. This trend has now prompted Muvi Cinemas, Saudi Arabia’s homegrown cinema brand and the country’s largest theatre operator, to launch […] June 3, 2022
Banking & Finance Why Pyypl power will accelerate MENA fintech growth The founder and CEO of Pyypl tells AGBI about ambitious expansion plans for the UAE-based company Already one of the fastest-growing fintechs in the Middle East and Africa region, UAE-based Pyypl is planning to “inject more petrol into the tank” in a new phase of expansion. Antti Arponen, founder and CEO, told AGBI that the […] June 1, 2022
Energy If Aramco were a country, it would be richer than Italy The oil company’s market cap of over $1.8 trillion in 2021 is more than two-and-a-half times the GDP of its home country Saudi Arabia May 30, 2022
UAE to open first robotic biobank in 2023 Al Jalila Foundation, a member of the Mohammed Bin Rashid Al Maktoum Global Initiatives, will establish the UAE’s first robotic biobank, in partnership with the Mohammed Bin Rashid University of Medicine and Health Sciences (MBRU) and the Dubai Health Authority (DHA). The collaboration will advance medical research in the areas of genetic disorders, cancer and […] May 28, 2022
Exclusive People & Lifestyle Age is just a number – and that number is $33trn As companies join the global race to prolong life, the Gulf is positioned to lead the way in preventative medicine “Live long and prosper” may be a quote from science fiction, made famous by a Star Trek movie in 1979, but its sentiment is driving real growth in today’s global scientific economy. The global longevity […] May 28, 2022
Energy Saudi Aramco: The rise of an oil giant 1933: Oil concession agreement signed 1935: The first test well is drilled into the Dammam Dome 1939: First tanker load of petroleum exported 1949: Oil production hits 500,000 bpd 1958: Oil production exceeds 1 million bpd annually 1962: Crude oil production hits 5 billion barrels 1976: First to produce more than 3 billion barrels of […] May 26, 2022
Exclusive Banking & Finance UK $350m venture capital fund sees Dubai on the Horizon Founder of London-based Digital Horizon targets investment potential in UAE startups London-based venture capital fund Digital Horizon is targeting the UAE for growth, with investments in its first Dubai-based startups expected to be completed later this year. Alan Vaksman, founder and general partner of Digital Horizon, which has $350 million of assets under its management, […] May 26, 2022
Banking & Finance Saudi firms lead MENA IPO charge amid global gloom Initial public offering (IPO) activity in the Middle East and North Africa (MENA) is bucking global trends, with investors rushing to take opportunities across a wide range of sectors. Despite uncertainties affecting the global IPO outlook – including the ongoing Russia-Ukraine conflict – the MENA region saw a 400 percent year-on-year increase in the number […] May 25, 2022
Analysis Tourism Golden age of Saudi tourism ‘needs new airlines to soar’ Hospitality experts say 310,000 hotel rooms will be added by 2030 and more carriers are needed 'rapidly' for the predicted influx of tourists May 25, 2022
Exclusive Real Estate Live in a Porsche? You can in the ‘bling’ capital of the Middle East From Four Seasons to Bulgari, branded residences are in demand among wealthy real estate investors in Dubai May 24, 2022
Exclusive Manufacturing UAE’s aluminium drive is out of this world Aluminium has been a bedrock of the UAE’s economy and its industrial ambitions for years with exports reaching more than 50 countries around the world. Now, Emirates Global Aluminium (EGA), the country’s largest industrial company outside oil and gas, is looking to enter the ultimate export market – outer space. The company is in talks […] May 24, 2022
Tourism First Neom flights set to boost Saudi tourism push The new city of the future’s Neom Bay Airport will launch Saudi Airlines flights to Dubai and London Neom, arguably Saudi Arabia’s most ambitious development project, has announced a partnership with the country’s national carrier to drive tourism to the $500 billion city of the future. The deal with Saudi Airlines, known as Saudia, will […] May 23, 2022
EXCLUSIVE Tourism Cruise Saudi CEO reveals big ambitions for kingdom’s tourism Riyadh wants tourism to be 10 percent of its GDP by 2030 – in part by becoming a hub for cruise travel. Cruise Saudi boss Lars Clasen tells AGBI how he aims to attract 1 million visitors a year May 23, 2022
Banking & Finance Abu Dhabi investors to plough $200m into Borouge IPO Alpha Dhabi, IHC and Multiply Group plan to invest in the plastics maker, which is set to list on the Abu Dhabi Securities Exchange on June 3 May 23, 2022
Climate change top of the agenda at Davos The Gulf’s two largest economies, Saudi Arabia and the UAE, are sending top-level delegations to the World Economic Forum’s (WEF) annual meeting in Davos-Klosters, Switzerland, which begins today. The UAE’s delegation, led by Maktoum bin Mohammed bin Rashid Al Maktoum, deputy prime minister and minister of finance, will also include Abdulla Bin Touq Al Marri, […] May 23, 2022
Business of Sport The cost of being champions: Manchester City’s $2bn investment Abu Dhabi-owned Manchester City won its fourth English Premier League title in five years yesterday, netting £44 million ($54.4 million) for finishing top. That figure pales into insignificance against the estimated $2 billion total investment made by Abu Dhabi royal Sheikh Mansour following his takeover of the club in 2008. But the business acumen that […] May 23, 2022
Business of Sport Could the Gulf become an Olympics contender? The Middle East is hosting top sporting events from the FIFA World Cup to Formula 1. Now it could have its sights on the ultimate prize May 20, 2022
Manufacturing Lucid’s electric vehicle hub to create 4,500 jobs in Saudi US-based Lucid Group on Wednesday revealed more details about its plans to build an electric vehicle (EV) production hub in Saudi Arabia, with 4,500 jobs to be created. With an annual capacity to build 155,000 EVs, agreements in place are estimated to provide financing and incentives to Lucid of up to $3.4 billion over the […] May 19, 2022
Exclusive How technology is transforming the UAE-UK trade relationship A quick look at the latest UAE-UK trade figures might give the impression that the centuries-old relationship isn’t what it used to be. But dig a little deeper and the figures – down sharply from close to £18 billion in 2018-2019 to £12.3 billion in the year to last September – can be explained by […] May 19, 2022
Russian oil dilemma may kickstart EU-GCC trade deal A new partnership adopted today between the European Commission and the Gulf Cooperation Council (GCC) could kickstart stalled talks on a free trade agreement. The High Representative and the European Commission said in a joint communication that the strategic partnership would focus on areas such as energy security, climate change and the green transition, digitalisation, […] May 18, 2022
Exclusive Interviews Make some noise for Anghami’s Elie Habib The Lebanese music streaming mogul talks to AGBI about the meteoric rise of his Nasdaq-listed company, its battles with music pirates, relocation to Abu Dhabi and his ambition to launch Arab music stars Elie Habib fell in love with coding early. He started selling software at the age of 17 and launched several companies in […] May 18, 2022
