Development Qatar’s emir arrives in Egypt for first visit since end of boycott Qatar’s ruler arrived in Egypt on Friday, his first trip to the country since the two Arab countries agreed last year to end a long-running regional feud, diplomatic sources said. Emir Sheikh Tamim bin Hamad al-Thani, who last visited Egypt in 2015, was greeted at the airport in Cairo by President Abdel Fattah el-Sissi. The […] June 25, 2022
Analysis Business of Sport Football stars who invest in startups Cristiano RonaldoIn 2012, Ronaldo invested in a startup named Mobitto, a Portuguese app, while also becoming a brand ambassador. In 2017, he purchased a minority stake in the Portuguese agency Thing Pink, responsible for the technology in the CR7 museum in Funchal, Madeira. David BeckhamFormer Manchester United and Real Madrid star Beckham reportedly invested $319,000 […] June 24, 2022
Lifestyle How I got to the top: Heidi Shara, CEO and founder of Wear That What does your company do? Wear That is a digital platform that creates personalised looks for women to try on before they buy in the comfort of their own home, with a real-life personal stylist. What inspired you to develop your idea? Having styled thousands of women all over the world in both luxury and […] June 24, 2022
Tourism Saudi adventure tourism climbs to new heights Saudi Arabia’s Vision 2030 ambition to diversify into tourism has added the action sport of climbing to its offer, a way for adventure holiday enthusiasts to explore the kingdom’s natural landscape. Climbing is a new concept for the country, only born locally from young Saudis who studied or worked abroad and then returned home with […] June 23, 2022
Sustainability Sweltering heatwave adds to power cuts misery Iraq’s problems are piling up and threatening protests: Price increases, a faltering power grid and a summer heatwave made all the more unbearable by electricity outages limiting air conditioning and the use of fridges for many. While the southern city of Basra is used to scorching summers, this year it has started sooner than expected, […] June 23, 2022
First multifaith gathering held on Arabian Peninsula in 1,000 years In contrast to a rhetoric of conflict, the forum proposes a unifying vision The Muslim World League held the Forum on Common Values Among Religious Followers this week in Saudi capital Riyadh. A multifaith event with leaders from around the world, the forum included 90 faith leaders in all, with Muslims, Christians, Jews, Buddhists and […] June 22, 2022
Food & Drink Chef Jason Atherton opens fine dining restaurant in Jeddah A new Mediterranean restaurant in Jeddah is bringing a fine dining experience to the city thanks to a partnership between English chef Jason Atherton and Saudi businessman Abdelkarim Abbar. Located at the newly opened Jeddah Yacht Club on the Red Sea, Marina Social, operated by Atherton and owned by Abbar, opened on June 19. Atherton’s […] June 22, 2022
Banking & Finance Abu Dhabi firms invest $25m each in Elon Musk’s SpaceX Two Abu Dhabi-listed firms have invested $25 million each in California-based rocket manufacturer SpaceX, which was founded by Elon Musk, the world’s richest man. International Holding Company first invested in SpaceX in 2020 through private equity fund Falcon CI IV and yesterday confirmed it had put in an additional $25 million. “We are pleased to […] June 22, 2022
Entrepreneurs How I got to the top: Erika Blazeviciute Doyle, Drink Dry What does your company do? Drink Dry is the UAE’s first and only non-alcoholic drinks marketplace. We aspire to open the world to new and better ways of drinking. We sell and distribute premium non-alcoholic drinks in the UAE, Kingdom of Saudi Arabia and Kuwait. What inspired you to develop your idea? The business idea […] June 17, 2022
Manufacturing Gulf rivals jostle for position as EV test beds A collaboration has been forged between electric vehicle company NWTN and real estate investor Sultan Investments to build a manufacturing facility in Abu Dhabi. The tie-up is the latest signal of intent by the UAE to corner the fast growing EV market, rivalling Saudi Arabia’s ambitions. NWTN, previously known as ICONIQ, was founded in 2016 […] June 14, 2022
Business of Sport LIV Golf crowns first champion and nabs another PGA star South African golfer Charl Schwartzel won $4.75 million as Saudi-backed LIV unveiled the signing of US favourite Patrick Reed June 13, 2022
Media & Advertising How I got to the top: Aidan Christofferson, co-founder, Flashy What does your company do? We are a 10 month old startup tech company, based in Dubai, which provides a platform for scalable photography solutions for GCC customers. Whether you’re a sole entrepreneur looking to capture images for your product, or a multinational enterprise looking for thousands of images a week, our platform takes care […] June 9, 2022
Energy UAE partners with Japan to drive low carbon tech The UAE and Japan are partnering on economic and energy opportunities in a bid to drive global low-carbon technologies, including studying the development of a hydrogen supply chain between the two countries. Dr Sultan Al Jaber, Minister of Industry and Advanced Technology, Special Envoy for Climate Change, and Abu Dhabi National Oil Company (Adnoc) managing […] June 8, 2022
Analysis Business of Sport Gulf riches has legacy sports events quaking in their boots Phil Mickelson’s self-imposed break from golf has ended with a $200 million golden handshake. The six-time major winner stepped down from the game in February after issuing a string of controversial comments about Saudi Arabia and the PGA Tour but has announced his return for the PIF-backed LIV Golf Invitational Series. In a statement on […] June 8, 2022
Energy New Israeli gas rig subject of dispute by Lebanon The Energean Power gas rig, docked in Israeli waters off the shore of Haifa, is expected to start pumping gas from the Karish natural gas reservoir in the next three to four months. The operation could significantly shift Israel’s energy economy. Lebanon called for US mediation claiming part of the offshore field fell within contested […] June 8, 2022
UAE economy’s growth for 2022 upgraded to 5.4% The UAE economy is set to grow by 5.4 percent this year, driven by the country’s success in containing the economic impacts of the coronavirus pandemic, according to the Central Bank of the UAE (CBUAE). The figure is higher than the 4.2 percent real gross domestic product (GDP) growth estimate made by the bank in April. […] June 7, 2022
Banking & Finance CPDQ to invest $5bn in DP World as it looks to reduce debt Canadian pension manager Caisse de Depot et Placement du Quebec (CPDQ) will invest $5 billion in DP World’s Dubai assets as the global ports operator looks at ways to reduce its debt. As part of the deal, CPDQ will take a 22 per cent stake in DP World’s Jebel Ali Port, Jebel Ali Free Zone and the National Industries […] June 7, 2022
Real Estate Half-year house sales prompt cautious optimism in Dubai Transactions of villas and apartments were so strong in the first five months of this year that analysts believe Dubai can withstand the battering that global inflation usually brings. An estimated total of AED61.9bn of property deals were completed between January and May, suggesting that the emirate’s market is fending off any threat from record […] June 6, 2022
UAE blockchain firm links with powerhouse Roland Berger Crypto Oasis, a Dubai-based organisation claiming to represent more than 1,000 startups and stakeholders in the blockchain industry, has formed an alliance with management consultancy Roland Berger to help grow the Middle East’s crypto economy. The strategic tie-up will combine Roland Berger’s industry-leading management consulting expertise with Crypto Oasis’s talent, innovation and infrastructure, the two […] June 6, 2022
Analysis Development How Oman’s sultan is reshaping the nation Omanis went into three days of mourning after the death of Sultan Qaboos bin Said in January 2020. When they reemerged with a new leader in Qaboos’ first cousin, Sultan Haitham bin Tariq, the oil-rich country was unaware that two waves of crises were looming on the horizon. A sudden dip in oil prices soon […] June 2, 2022
Analysis Energy Gulf to see revenue boost from oil price uplift, Russia embargo EU leaders have said they will block most Russian oil imports by sea by the end of the year, a move expected to keep oil prices at their highest since the last peak in 2014 and buoy GCC economies. June 1, 2022
Analysis Food & Drink Saudis want the world to wake up and smell their coffee Did Arabica coffee originate in Arabia? Many say it hails from Ethiopia and then spread to Yemen and the rest of the Middle East. As coffee experts and aficionados continue to debate its history, Saudi Arabia is working to put a new stamp on the industry. Saudi Arabia has named 2022 the year of Saudi […] May 31, 2022
