Food & Drink KFC and Pizza Hut owner ends franchise deal in Turkey Yum! Brands, the US-based owner of KFC and Pizza Hut, has terminated its franchise agreements with Turkish operator IS Gida. The decision was taken after IS Gida failed to meet its standards, Yum! Brands said. “Prior to termination, we engaged with IS Gida over several months to provide assistance and resolve key issues,” said Chris […] January 9, 2025
Tax Dubai distributors to swallow 30% tax on alcohol brands Dubai’s two main alcohol distributors have promised to absorb most, and in some cases all, of the 30 percent tax that was reinstated on alcoholic drinks from January 1. The Dubai Municipality tax on alcoholic beverages was suspended from the start of 2023, continuing into 2024. It was widely seen as an attempt to make […] January 3, 2025
Food & Drink Foodtech startup Calo plans IPO after $25m funding round Saudi food technology startup Calo is planning to list on the country’s stock exchange following a raise of SAR94 million ($25 million) in its Series B funding round. Based in Riyadh, Calo specialises in personalised meal subscriptions and also has a bricks-and-mortar offering. It is embarking on an accelerated expansion phase, increasing its physical locations […] January 2, 2025
Real Estate Burj Khalifa at 15: Ups and downs of the world’s tallest skyscraper It may have a few aches and pains but demand in Dubai's supertower remains strong January 2, 2025
Analysis Food & Drink Gulf restaurants urged to keep it local Restaurant operators and investors in the Gulf should open local, authentic outlets rather than imported high-end brands, experts say. Saudi Arabia, where government-backed initiatives seek to double the number of restaurants, “is definitely a growth market”, according to Duncan Fraser-Smith, CEO of Craft Hospitality Group. But the establishment needs to suit the location. Craft turned […] December 31, 2024
Opinion Finance My humble submission for the 2025 Pulitzer Prize Our editor-at-large reviews his year in columns and finds his triumphs abound December 20, 2024
Agriculture ADQ plans Abu Dhabi shrimp farm with Korean startup A land-based shrimp farm may be set up in Abu Dhabi, after a deal between the emirate’s sovereign wealth fund, ADQ, and a South Korean aquaculture startup. Aqua Development, based in Seoul, uses a combination of aquatic biology and technology to replicate the shrimp’s natural environment, which it says is more efficient than traditional fish […] December 19, 2024
Opinion Agriculture We need an agency to fight AMR, the region’s silent killer A lack of government financial resources and little, if no, regulatory frameworks add to the problem December 9, 2024
Analysis Food & Drink Pro-Palestinian cola brands to launch in Middle East Two pro-Palestine soft drinks brands launched this year as Coca-Cola and Pepsi alternatives are planning to debut in the Middle East in the coming months. They are the latest to take advantage of a market that appears to be moving away from US brands that are perceived to support Israel in the Gaza conflict. In large […] December 8, 2024
Food & Drink ‘World first’ date soft drink launched by PIF subsidiary A soft drink made from dates has been launched by Al Madinah Heritage Company, a subsidiary of Saudi Arabia’s Public Investment Fund. Milaf Cola, which is claimed to be the world’s first commercial soft drink made from dates, uses only premium fruit and contains no added sugar. Dates have historically been used in Middle Eastern beverages […] December 6, 2024
Opinion Real Estate Dubai home renovations: enough to drive a man to drink Real estate may be peaking if the work in my apartment block is anything to go by December 6, 2024
Food & Drink Dubai to reintroduce 30% alcohol tax Dubai will reintroduce the 30 percent sales tax on alcohol in January, according to an email sent by a local alcohol distributor to venues in the city. The correspondence sent by MMI, which also operates off licences in the city, said: “Please note, Dubai Government have informed us the 30 percent municipality tax on alcoholic […] December 5, 2024
Agriculture Almarai to foray into food segments beyond dairy Almarai, the largest dairy producer in Saudi Arabia, will launch seafood and red meat facilities to help achieve the Vision 2030 goal of becoming food self-reliant. The company is building domestic production facilities for seafood and beef and lamb, which will become operational in two years, Bloomberg reported, citing CEO Abdullah Albader. In March, Almarai […] December 5, 2024
Analysis Markets Mena delivery app Talabat outperforms its German parent When Talabat makes its debut on Dubai Financial Market next week, the food delivery app will be worth nearly as much as its parent company despite providing only about a quarter of Delivery Hero’s revenue. This might suggest Talabat’s initial public offering (IPO) was overpriced but a closer look at both companies’ earnings shows otherwise […] December 4, 2024
Agriculture UAE’s ADQ to explore building land-based fish farm ADQ, an Abu Dhabi-based investment and holding company, has signed an agreement with a Finnish aquaculture technology company to explore the feasibility of developing a land-based fish farming facility. Finnforel will collaborate with ADQ on the fish farm that could have a capacity of producing three thousand tonnes per year. The farm will cultivate rainbow trout, […] December 2, 2024
Markets Talabat to raise $2bn from IPO as price is finalised Germany’s Delivery Hero has set the price for the initial public offering (IPO) of Talabat, its Mena-based food delivery company, at the top of the range. The final IPO price was set at AED 1.60 ($0.44) per share, enabling the company to raise AED7.5 billion ($2 billion). Following strong investor demand, Talabat increased its IPO […] November 29, 2024
Food & Drink Heineken joint venture to build brewery in Dubai Dubai is to follow Abu Dhabi and Ras Al Khaimah in opening its own brewery. Sirocco, a joint venture between the Dutch drinks company Heineken NV and the Emirates Group-owned Maritime and Mercantile International (MMI), will start construction on a new brewery, having secured all the necessary permits from the relevant local authorities, the company […] November 28, 2024
Food & Drink Food exports from UAE climb 20% in six months Food and beverage exports from the UAE rose by almost 20 percent during the first half of 2024, the Abu Dhabi Chamber of Commerce and Industry (ADCCI) has revealed. The organisation predicted that food exports would “surge” to $38.3 billion (AED141 billion) this year. The ADCCI gave no figure for last year, but according to the […] November 28, 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
Food & Drink Americana to invest $100m in Saudi French fries factory A subsidiary of fast-food brand operator Americana will invest SAR375 million ($100 million) in a greenfield frozen French fries manufacturing plant in Riyadh. The new processing factory will be set up in Sudair Industrial and Business City as a collaboration between Agricultural Growth and Processing Company, an Americana unit, and Egypt-based potato processing company Farm […] November 27, 2024
Banking & Finance QIA invests in owner of McDonald’s China The Qatar Investment Authority has invested in a continuation fund that will hold a controlling stake in McDonald’s China. Trustar Capital, a Chinese private equity firm, raised $1 billion for the fund, sources told Reuters, with the QIA, Qatar’s sovereign wealth fund, committing the largest amount, to become the anchor investor. Other investors include the […] November 26, 2024
Economy Turkish consumer confidence slides as inflation persists Turks appear to have taken to heart government efforts to cool the economy and rein in inflation, with the latest consumer confidence survey showing a dip in outlook, reversing a five-month upward trend. Turkey’s consumer confidence slipped further into negative territory in November, according to data issued by statistics agency Turkstat on November 21, as […] November 21, 2024
