Opinion Entrepreneurs How to fund and launch your business in Mena and beyond Funding is a marathon, not a sprint December 5, 2024
Business of Sport Rio Ferdinand invests in Saudi sports platform Rio Ferdinand, the former England and Manchester United footballer, has invested in a Saudi sports platform. The Ferdinand Group (TFG), a sports and entertainment investment company owned by the ex player, acquired a minority stake in Koora Break, described as the fastest-growing football app in the Middle East and North Africa. No specific financial terms […] December 2, 2024
Analysis Entrepreneurs Gulf startups get ready for their close-up on reality TV First it was Shark Tank, now it’s Unicorn Hunters. Reality TV has become the latest pathway for Gulf startups to access venture capital. The second season of Shark Tank Dubai is airing now in the UAE – an Arabic version of the Dragons’ Den/Shark Tank format in which entrepreneurs make presentations to a panel of venture […] December 1, 2024
Video length: 03:17 VIDEO Banking & Finance Opportunities for ‘distressed investors’ as Saudi companies restructure International and regional distressed investors looking at buying debt in Saudi businesses are becoming more active as new bankruptcy laws and reforms take shape in Saudi Arabia. Paul Gilbert, Middle East managing director at Alvarez & Marsal, said bankruptcy processes were “being very predictable”, which was an “important factor for inward investment into the country”. […] November 27, 2024
Video length: 03:43 VIDEO Tech Funding squeeze stifles AI innovation in Mena Emerging technology and AI startups in the Mena region are struggling to find investors. Industry experts say that the Middle East attracts less than 5 percent of global funding for AI because of the lack of specialised venture capital funds that are willing to take risks. “Our region lags behind the rest of the world […] November 25, 2024
Analysis Entrepreneurs What next for Kingdom Holding’s $2bn X investment? When Elon Musk took ownership of Twitter in 2022 for $44 billion, he did so with the help of Saudi Arabia’s Prince Alwaleed bin Talal and his Kingdom Holding, which put up nearly $2 billion of the price, and the Qatar Investment Authority, which handed over $375 million. The investment made the Saudi company the […] November 25, 2024
EXCLUSIVE Finance The No 1 problem in a family business? ‘Not business, but family’ Public listings offer access to capital markets but they do not resolve the issues that often plague family businesses, the chairman of one of the Gulf’s largest and oldest family-owned conglomerates has told AGBI. Those challenges are governance, mindset and personal dynamics, said Mishal Kanoo, chairman of the Kanoo Group. “Not a lot of people […] November 21, 2024
Analysis Banking & Finance Funding increase to support Palestinian startups Funding levels are being ramped up to support Palestinian startups in the war-torn territory and across the wider Middle East and North Africa. Just $8.8 million has been invested in Palestinian startups – marked as Ramallah, West Bank or Gaza-based – in 18 deals on record from 2022 to the present day, according to Racha […] November 14, 2024
Entrepreneurs Dubai seeks 5,000 VCs to ignite startup funding Less than a tenth of total loans issued by UAE banks in the first half of the year went to small and medium sized enterprises amid renewed calls to reduce the funding gap. The total amount of facilities and loans extended by banks operating in the UAE reached AED856 billion ($233 billion) by the end […] October 24, 2024
Opinion Economy Lebanon’s startups face a battle to survive Many Lebanese startups have paused operations, closed down or relocated – mostly to the GCC October 24, 2024
EXCLUSIVE Tech Dubai prepares laws to support digital businesses Dubai is preparing to roll out a wave of regulations aimed at supporting small and digital businesses, a government official has confirmed. “We need to recognise that digital business are different from traditional businesses, and we need to treat them as such,” Ahmad Bin Byat, vice chairman of Dubai Chamber of Digital Economy, told AGBI. […] October 17, 2024
Opinion Banking & Finance Oman must empower SMEs by removing banking barriers The country has much to gain from supporting its entrepreneurs with easier access to funding October 7, 2024
Cybersecurity Turkey aims for higher level of cybersecurity Turkey has outlined plans for a new cybersecurity directorate to encourage private sector research and new startups. Vice President Cevdet Yılmaz said last week that the directorate would be established in the autumn as part of a campaign to strengthen the state’s defences against all forms of cyber attack. “We have more or less completed […] October 1, 2024
Opinion Finance Look at the fall in startup investment. Now take a closer look… No-context numbers don't tell the whole story on Mena startups. Here are some reasons to be hopeful September 18, 2024
Tech 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 […] August 26, 2024
Analysis Entrepreneurs 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 […] July 31, 2024
Analysis Tourism 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 […] July 29, 2024
Video length: 04:47 VIDEO Retail Tech to help UAE’s baqalas hold off larger grocery rivals Baqalas — small convenience stores – represent 81 percent of the UAE’s grocery retail outlets. But they need to adopt technology if they are to maintain their 56 percent market share against competition from supermarkets and hypermarkets. Watch the video to find out more. More videos from AGBI July 25, 2024
Analysis Finance 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 […] July 25, 2024
Video length: 05:09 VIDEO Markets 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 […] July 4, 2024
Analysis Economy 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 […] June 20, 2024
Retail 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 […] June 14, 2024
