Video length: 04:29 VIDEO Banking & Finance UAE family businesses: ‘bigger cake, bigger problem’ Inefficient governance and incomplete succession planning are the two main challenges facing UAE family businesses, says the chairman of Dubai Chambers. Over the past 50 years family businesses have evolved from being small operations to multi-billion-dollar conglomerates. The sector now accounts for 60 percent of the country’s GDP. “The bigger the cake, the bigger the […] May 17, 2023
Video length: 02:08 Dubai charts plans to boost trade with Australia Negotiations for an “exciting” and “important” Free Trade Agreement (FTA) between Australia and the UAE are still under way, according to the chairman of the Australia Arab Chamber of Commerce. Mohamed Hage was in Dubai last week with Margaret Beazley, the governor of New South Wales, to sign a trade-boosting memorandum of understanding with Dubai […] May 16, 2023
Video length: 01:46 Video Economy Recession is not ‘top of mind’ for CEOs in the Gulf Long term growth is the name of the game for CEOs in the GCC, while some of their counterparts in the US and Europe prepare for a recession. The IMF expects 2023 to be the weakest year for global growth since 2009, outside of the coronavirus pandemic year of 2020. However, the outlook is divergent, […] May 10, 2023
Video length: 02:49 Video Tourism Red Sea Global to spend $20bn by 2024 Red Sea Global will open its first hotels this year at the new Saudi Arabian tourist destinations, Red Sea Project and Amaala. The company, owned by Saudi sovereign wealth fund PIF, has spent $5 billion so far, according to its CEO, and will be spending another $15 billion by 2024. “Between Red Sea and Amaala, […] May 3, 2023
EXCLUSIVE Tourism Lebanon’s tourism minister hails $9bn revenues Lebanon is not relying on International Monetary Fund cash to stay afloat, a government minister has told AGBI, as the tourism sector alone contributed $9 billion in revenue last year. The IMF reached a staff-level agreement with Lebanon in April 2022 for a $3 billion loan programme to tackle its financial crisis. But progress on […] May 1, 2023
Video length: 02:35 Video Real Estate Millennial investors hiking property prices for Dubai expats Dubai is seeing a “big rise” in millennial investors looking for luxury properties. “A lot of rich people are investing in Dubai, which is why we see villas being sold for $50 million to $100 million,” said Rizwan Sajan, founder and chairman of Danube Group in an exclusive video interview with AGBI. “There are a […] April 27, 2023
Video length: 03:47 Video Middle East tech sector’s hire and fire conundrum The mass layoffs in the global tech sector last year were the highest since the dot-com bubble burst in 2001, but they are not necessarily a reflection of the job market globally or in the Middle East, according to a Dubai-based digital transformation and Web3 expert. “The layoffs only constitute 10 percent of all the […] April 20, 2023
Video length: 03:07 Video Aviation Labour woes and debt clip the wings of Mena aviation Labour shortages, high interest rates and sustainability challenges are the most pressing concerns facing both the global and Mena aviation sectors in the post-pandemic environment, says Hugo Santo, partner at McKinsey and Co. Travel trade body the International Air Transport Association recently reported that total traffic in February 2023 rose 55.5 percent year-on-year, and Middle […] April 12, 2023
Video Energy Oil price likely to hit $100 a barrel, says Dubai analyst Oil prices are predicted to rise higher, with $100 a barrel now looking more likely in the coming months following Opec+’s decision to cut production, according to a senior analyst at Dubai’s largest bank. Edward Bell, senior director for market economics at Emirates NBD, said the move by Saudi Arabia and its Opec+ partners on Sunday […] April 4, 2023
Video Lifestyle Buoyant yacht market in full view at Dubai Boat Show The Dubai International Boat Show 2023 hosted exhibitors from 51 countries and showcased more than 175 vessels worth over $2.5 billion as the yachting boom continues. In our video report from the boat show, Francesco Pitea, CEO of SF Yachts, admits that boats are not a great investment. But that does not dampen demand for super […] March 9, 2023