Company Insights Majid Al Futtaim Group Retail Majid Al Futtaim Group News Transport Neo seeks $30m to drive ambitious EV plans “Last-mile” logistics company Neo Mobility is launching in Dubai next month with a fleet of 100 electric two-wheeler vehicles. The company secured $10 million in pre-launch seed funding from investors including green asset financing platform Delta Corp Holding. It is now in talks to raise $30 million to finance growth plans which includes a vehicle […] November 9, 2023 Video length: 03:47 Tech IT opportunities in UAE to leap 80% thanks to AI uptake Job opportunities in the UAE’s information technology sector will rise 80 percent as IT leaders plan to augment their teams in the next 12 months, according to a survey. The driving force behind this surge in demand for IT professionals is the advance of technology such as artificial intelligence (AI), generative AI and machine learning, […] November 2, 2023 Sustainability Just 12% of Mena businesses have net zero target Businesses in the Middle East and North Africa (Mena) “lag behind” their global peers in terms of net zero targets, according to a report by the World Economic Forum and US consultancy Bain & Company. WEF evaluated the disclosure and sustainability measures of around 200 publicly listed and private companies across Mena’s nine biggest economies. […] October 20, 2023 Tech UAE businesses and families splurge on video surveillance Dubai retail conglomerate Majid Al Futtaim has signed a deal to use artificial intelligence to boost security systems at its malls across the region. The company has signed an AED3.5 million ($950,000), three-year deal with Australia-based Icetana to upgrade camera streams at 16 of its sites. Icetana’s AI software can identify and report unusual or […] October 13, 2023 Video length: 05:10 VIDEO Finance Explained: Green bonds and how they work The aggregate listing value of green bonds and sukuks on Nasdaq Dubai stands at around $24 billion, according to Christian Kunz, DIFC’s chief strategy, innovation and ventures officer. Regional conglomerates, as well as global companies, have recently used the exchange to raise funds to finance their green projects. Retail giant Majid Al Futtaim raised $500 […] October 6, 2023 EXCLUSIVE Logistics Dubai company’s EVs aim to deliver ‘last mile’ in 100 cities Dubai company One Moto, which aims to decarbonise “last mile” deliveries using electric vehicles, has said it plans to serve 100 cities by 2028. After launching the company in the UAE, serial entrepreneur Adam Ridgway has gained a foothold in the UK, Bahrain, Jordan, Sri Lanka, Chile, Iraq, Nepal and Ethiopia. It is in talks […] October 3, 2023 Retail GCC retail industry concern as shoppers move online The Gulf’s retail industry remains an area of concern amid ongoing changes in consumer spending habits. The Q2 2023 edition of the Middle East Turnaround and Restructuring Survey, published by professional services firm Alvarez & Marsal, found more than two-thirds of respondents anticipated continued pressures in the sector as consumers increasingly turn to digital shopping […] September 6, 2023 Leisure & Hospitality Majid Al Futtaim’s profit surges 74% as GCC flourishes UAE retail conglomerate Majid Al Futtaim Holding reported a 74 percent year-on-year rise in net profit to AED1.7 billion ($462.84 million) in the first half of 2023, driven by positive macroeconomic conditions across the Gulf countries. Revenues rose five percent year on year to AED18.9 billion, fueled by a 37 percent increase in income from […] August 21, 2023 Construction Aldar unveils $136m plan to revamp UAE shopping malls Aldar Properties announced an AED500 million ($136 million) investment plan on Tuesday to redevelop two of its key retail portfolio assets in the UAE – Al Jimi Mall in Al Ain and Al Hamra Mall in Ras Al Khaimah. The investment takes Aldar’s committed spend on redeveloping key retail assets to AED1 billion, the Abu […] July 25, 2023 Video length: 04:29 Exclusive Employment Sharp rise in family disputes, says Emirati lawyer The UAE has seen a marked increase in disputes within family-run businesses which is likely to continue, according to a leading Emirati lawyer. Habib Al Mulla has been practising in the UAE for four decades and had until five years ago only seen one dispute case involving family members and shareholders of a company. However, […] June 8, 2023 Posts navigation Previous 1 2 3 4 … 6 Next
Transport Neo seeks $30m to drive ambitious EV plans “Last-mile” logistics company Neo Mobility is launching in Dubai next month with a fleet of 100 electric two-wheeler vehicles. The company secured $10 million in pre-launch seed funding from investors including green asset financing platform Delta Corp Holding. It is now in talks to raise $30 million to finance growth plans which includes a vehicle […] November 9, 2023
Video length: 03:47 Tech IT opportunities in UAE to leap 80% thanks to AI uptake Job opportunities in the UAE’s information technology sector will rise 80 percent as IT leaders plan to augment their teams in the next 12 months, according to a survey. The driving force behind this surge in demand for IT professionals is the advance of technology such as artificial intelligence (AI), generative AI and machine learning, […] November 2, 2023
Sustainability Just 12% of Mena businesses have net zero target Businesses in the Middle East and North Africa (Mena) “lag behind” their global peers in terms of net zero targets, according to a report by the World Economic Forum and US consultancy Bain & Company. WEF evaluated the disclosure and sustainability measures of around 200 publicly listed and private companies across Mena’s nine biggest economies. […] October 20, 2023
Tech UAE businesses and families splurge on video surveillance Dubai retail conglomerate Majid Al Futtaim has signed a deal to use artificial intelligence to boost security systems at its malls across the region. The company has signed an AED3.5 million ($950,000), three-year deal with Australia-based Icetana to upgrade camera streams at 16 of its sites. Icetana’s AI software can identify and report unusual or […] October 13, 2023
Video length: 05:10 VIDEO Finance Explained: Green bonds and how they work The aggregate listing value of green bonds and sukuks on Nasdaq Dubai stands at around $24 billion, according to Christian Kunz, DIFC’s chief strategy, innovation and ventures officer. Regional conglomerates, as well as global companies, have recently used the exchange to raise funds to finance their green projects. Retail giant Majid Al Futtaim raised $500 […] October 6, 2023
EXCLUSIVE Logistics Dubai company’s EVs aim to deliver ‘last mile’ in 100 cities Dubai company One Moto, which aims to decarbonise “last mile” deliveries using electric vehicles, has said it plans to serve 100 cities by 2028. After launching the company in the UAE, serial entrepreneur Adam Ridgway has gained a foothold in the UK, Bahrain, Jordan, Sri Lanka, Chile, Iraq, Nepal and Ethiopia. It is in talks […] October 3, 2023
Retail GCC retail industry concern as shoppers move online The Gulf’s retail industry remains an area of concern amid ongoing changes in consumer spending habits. The Q2 2023 edition of the Middle East Turnaround and Restructuring Survey, published by professional services firm Alvarez & Marsal, found more than two-thirds of respondents anticipated continued pressures in the sector as consumers increasingly turn to digital shopping […] September 6, 2023
Leisure & Hospitality Majid Al Futtaim’s profit surges 74% as GCC flourishes UAE retail conglomerate Majid Al Futtaim Holding reported a 74 percent year-on-year rise in net profit to AED1.7 billion ($462.84 million) in the first half of 2023, driven by positive macroeconomic conditions across the Gulf countries. Revenues rose five percent year on year to AED18.9 billion, fueled by a 37 percent increase in income from […] August 21, 2023
Construction Aldar unveils $136m plan to revamp UAE shopping malls Aldar Properties announced an AED500 million ($136 million) investment plan on Tuesday to redevelop two of its key retail portfolio assets in the UAE – Al Jimi Mall in Al Ain and Al Hamra Mall in Ras Al Khaimah. The investment takes Aldar’s committed spend on redeveloping key retail assets to AED1 billion, the Abu […] July 25, 2023
Video length: 04:29 Exclusive Employment Sharp rise in family disputes, says Emirati lawyer The UAE has seen a marked increase in disputes within family-run businesses which is likely to continue, according to a leading Emirati lawyer. Habib Al Mulla has been practising in the UAE for four decades and had until five years ago only seen one dispute case involving family members and shareholders of a company. However, […] June 8, 2023
