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Entrepreneurs

Exclusive interviews with entrepreneurs from the Middle East and beyond. All the important stories, plus authoritative opinion and analysis

Telegram founder and CEO Pavel Durov

Telegram founder Pavel Durov arrested in France

Pavel Durov, the Russian-born billionaire founder and owner of the Dubai-based Telegram messaging app, was arrested at Le Bourget airport, Paris shortly after landing on a private jet late on Saturday, and placed in custody, three sources have told Reuters. Durov, 39, who has dual French and UAE citizenship, was arrested as part of a […]

Egypt startups Gulf VC investment

Gulf investors show renewed appetite for Egypt’s startups

Venture capital companies are reporting renewed interest in Egyptian startups after a difficult few years for the country’s tech entrepreneurs. Emirati and Saudi investors are leading the return, say VC experts, after record-high inflation and a prolonged foreign exchange crisis dented deal-making. Since the Egyptian authorities floated the pound in March and the economy has […]

The event industry in Dubai was worth over AED165 billion ($45 billion) in 2023 and is forecast to grow at a compound annual growth rate (CAGR) of 25 percent through to 2027

Corporate travel rising as Dubai plays perfect host

Dubai has won 175 deals so far this year that will boost the emirate’s corporate and business travel sector over the next four years. The events, representing an increase of almost a quarter year on year, include international conferences, congresses and meetings. They’re expected to bring more than 92,000 delegates to the city, according to […]

Modi India GCC

From taxes to FDI rules – how India’s budget affects the Gulf

Prime Minister Narendra Modi’s first budget of his third term brings welcome news for international investors but mixed outcomes for non-resident Indians. Notable initiatives include abolishing the contentious “angel tax”, simplifying foreign direct investment (FDI) rules, increasing capital gains taxes and cutting gold import duties. Angel tax abolition: relief comes too late India’s finance minister […]

A trader monitors prices. Recent Dubai IPOs have been heavily oversubscribed Video length: 05:09

Dubai and Abu Dhabi need some IPO diversity

“You want your capital markets to be a mirror of your economy on the ground,” says Saad Chalabi, CEO of brokerage platform xCube. In the UAE, however, that has not been the case. The markets in Dubai and Abu Dhabi are “mostly real estate and banking in terms of weight”, though more oil, utilities and […]

wealthy migrants UAE

Wealthy migrants to UAE boost luxuries but stir inflation

The UAE is likely to attract a new surge of ultra-rich migrants, lured by low tax rates, high-privacy settings and a luxurious lifestyle, at a time of global geopolitical upheaval and heightened anti-money laundering measures in developed countries.  But, while the wave of wealth is likely to stimulate specialised sectors of the economy, the arrivals […]

Adult, Female, Person

Private jets to flamingos: the personal shopping lists of the super rich

The luxury e-ommerce retailer Pastor & Co, which boasts it can supply clients with everything from Picasso paintings to swans, is aiming to pass $10 million in profits this year, buoyed by strong interest from the rich and famous across the Mena region. The personalised shopping service gets requests to source anything from a rare Fendi […]

Donald Trump Gulf Yasir al-Rumayyan

Trump’s convictions no problem in Gulf, says Saudi partner

Donald Trump’s felony convictions in New York last week are not a deterrent to his potential business interests in the Gulf, a leading Saudi developer has said. Trump became the first former US president to be convicted of felony crimes on May 30 when a New York jury found him guilty of all 34 charges […]

Abu Dhabi's Khalifa University of Science and Technology, Mubadala Investment Company and Kelix Bio announce plans to collaborate on R&D into biopharmaceutical technologies

UAE considers R&D tax incentives to help SMEs

The UAE is considering plans for a research and development tax incentive scheme to boost its ambitions to become a regional centre for homegrown innovation. The Ministry of Finance said it has launched an official consultation on the possible implementation of the tax incentive under the UAE corporate tax law.  The consultation will be open […]

Qatar hopes to lure skilled individuals and wealthy entrepreneurs

Qatar woos foreign talent with 5-year residency permit

Qatar has launched a residency permit aimed at attracting talented individuals and entrepreneurs.  The permit programme, which is expected to open in the next few months, offers five-year renewable residencies to people with expertise in specific fields including the arts and scientific research. Applicants must either have a job offer in Qatar or demonstrate financial […]

Visitors at the Leap Technology Conference in Riyadh

Saudi Arabia backs tech startup sector with $888m

Saudi Arabia has announced investments worth $888 million to support the local tech startup and venture capital sector. The funds will support industries such as digital payments, e-gaming and artificial intelligence (AI). The announcement was made on the second day of the Leap international technology conference taking place this week in Riyadh. Saudi Arabia has […]

Emirates NBD will finance eligible SMEs at competitive rates, charging the Eibor with no additional margin

Dubai’s $136m boost to drive global growth of SMEs

Dubai has allocated AED500 million ($136.13 million) to support small and medium-sized enterprises (SMEs) with ambitions to scale up globally. The initiative was launched in partnership with Emirates NBD, the UAE state-run Wam news agency reported. The Dubai international growth initiative will support the global expansion of SMEs founded in the emirate, Dubai Crown Prince […]

The Future Investment Initiative Conference, run by the Saudi PIF. The FII invests in a range of sectors, including startups Video length: 05:04

Middle East unicorns will flourish, predict VCs

For the first time since 2015, there were no deals worth more than $100 million last year in the UAE. Despite this, venture capitalists predict the region will see the creation of at least 10 unicorns – defined as a privately held startup company with a value of more than $1 billion – within the […]

Saudi Arabia's new long-term residency visa programme follows its HQ Programme for international companies

New Saudi visas aim to lure ‘high-wealth investors’

Saudi Arabia’s new long-term residency visas is at attracting “high-wealth investors” to the kingdom, though it may hinder the nurturing of local talent, some analysts have warned. The updated “premium residency” options are designed to lure top global talent to Saudi Arabia as it continues its billion-dollar transformation from a hydrocarbon-based economy. The visas cover […]

42 deals to secure funding for startups were agreed in November

Mena startup funding bounces back in November

Startup funding rose sharply in November, reflecting regional and global investors’ renewed confidence in the Middle East and North Africa.  Investment totalled $764 million from 42 deals, according to Dubai-based venture capital company Wamda. It was the highest monthly figure in 2023, an increase of 390 percent from October’s figure and a year-on-year rise of […]

The UAE bankruptcy law seeks to 'strike a balance between the rights of creditors and the interests of debtors'

UAE sets up bankruptcy court to rule on disputes

The UAE is overhauling its bankruptcy and restructuring law, introducing a specialist court to oversee disputes. The legislation – formally Federal Law Decree No 51 of 2023 – comes into force on May 1, 2024, and replaces the 2016 bankruptcy framework. It will emphasise the importance of amicable resolutions, broadening the scope for debtors to […]

Businesses will benefit 'when their female directors have the numbers to build influence,' says Maliha Jilani

More women join UAE boards, but progress ‘still slow’

When Maha Abdul Majeed Ismail Ali Al Fahim joined the board of Islamic Arab Insurance Company this year, she became part of a growing trend. Women made up 23 percent of appointments to UAE boards in 2022, from just 12 percent in 2020, according to executive search company Heidrick & Struggles. But campaigners in the Gulf […]