Tech Top 10 agtech innovators shaping the Mena market Lush plains criss-crossed by fresh water lakes and grasslands where hippos and elephants roamed. This was the Arabian peninsula in prehistoric times, according to archaeologists who have uncovered traces of fertile landscapes beneath the desert sands. Today the terrain looks very different, as the region’s governments race to confront food scarcity on a warming planet. […] March 1, 2023
Manufacturing It’s a date as UAE food firms target $35bn Indian market A food producer in Dubai has announced a joint venture to take its brand to India as experts say the market offers “growth potential” to many food exporters in the UAE. Al Barakah Dates said it will process and export over 30,000 tonnes of bulk raw material from its factory in Dubai Industrial City to […] February 28, 2023
Trade Bahrain, Egypt, Jordan and UAE sign $2bn of industrial deals Businesses from the UAE, Egypt, Jordan and Bahrain have signed industrial deals valued at more than $2 billion at a government-backed gathering in Amman. The meeting of the Higher Committee of the Industrial Partnership for Sustainable Economic Development, held on Sunday, brought together CEOs and the industry ministers of the four countries. Twelve agreements were […] February 27, 2023
Manufacturing Japanese automaker Nissan raises global EV targets Nissan Motor Company Limited on Monday raised its electrified car sales goals and said it will increase power train production in the United States, as it looks to catch up in a segment dominated by newer automakers such as Tesla Inc. The Japanese automaker was a pioneer in electric vehicles (EVs) with its all-battery-powered Leaf […] February 27, 2023
Manufacturing Egypt to get $145m investments in automotive sector Egypt has signed agreements with three global automobile manufacturers worth around $145 million, Prime Minister Mostafa Madbouli said at the first meeting of the Supreme Council of Automobiles. Automobiles are the fourth largest commodity in terms of import value, and the move is part of President Abdel Fattah El-Sisi’s directive to increase this, Egypt Today […] February 26, 2023
Manufacturing $6.4bn in contracts signed at major defence expo The UAE signed defence deals worth a total of AED23.34 billion ($6.36 billion) over five days of a major defence expo in the capital Abu Dhabi, with big wins for local companies despite a strong showing by international firms. Contracts worth 2.2 billion dirhams were signed at the International Defence Exhibition (Idex) on Friday, of […] February 26, 2023
Manufacturing Saudi opening food clusters to boost homegrown supplies Saudi Arabia is planning to launch a number of food clusters in an effort to boost its homegrown food manufacturing sector. Abdulrahman Alromaizan, investment development director at the Saudi Industrial Property Authority (Modon), told delegates during a panel at the Gulfood event in Dubai this week that the semi-government entity was addressing the need to […] February 24, 2023
Manufacturing UAE signs over $2bn defence deals with state-owned firms The United Arab Emirates (UAE) signed defence deals worth AED8.14 billion ($2.22 billion) on the second day of a major industry expo in Abu Dhabi, with the bulk of the business signed with a state-owned firm, a state defence acquisitions agency said. Abu Dhabi defence firm Edge, whose book value last year was roughly $5 […] February 22, 2023
Agriculture Ukraine poultry giant signs deal to boost Saudi food security A Ukrainian poultry business and a Saudi food group have signed an agreement that aims to improve the kingdom’s food security. MHP, one of Europe’s largest exporters of chicken, has entered into a memorandum of understanding with Tanmiah Food Company. The agreement is the first step in establishing a joint venture between Tanmiah’s subsidiary, Desert […] February 21, 2023
Manufacturing Russian firms showcase guns and missiles at UAE defence expo A major defence expo kicked off in the UAE on Monday with Russian firms participating in the maritime section and a strong showing by Israeli companies. Russian firms, including Kalashnikov and Rosoboronexport, displayed assault rifles, missiles and drones at the Naval Defence & Maritime Security Exhibition (Navdex), part of the biennial International Defence Exhibition event […] February 21, 2023
Economy Saudi Crown Prince unveils strategy for Northern Borders Crown Prince Mohammed bin Salman has unveiled a plan to drive economic expansion in Saudi’s Northern Borders region. The strategic office for the Northern Borders, announced on Monday, aims to increase development across the region, which is an emerging metals and chemicals hub, and take advantage of its location next to Jordan and Iraq. The […] February 20, 2023
Food & Drink Saudi prince joins round for US-based alt protein startup KBW Ventures, the venture capital firm founded by Saudi Arabia’s Prince Khaled bin Alwaleed, has completed a second round of investment in Seattle-based food manufacturing technology company Rebellyous Foods. The US company, which makes plant-based chicken substitute and is led by former aerospace engineer Christie Lagally, raised $9.5 million in its latest equity round. Rebellyous […] February 16, 2023
Energy Egypt set to launch first-ever bid for obsolete energy fields Egypt will launch the first-ever bid for obsolete energy fields, minister of petroleum Tarek el-Molla said. Details of the bid will be released before the end of February. “Its economic model will be determined to increase production from those fields that need unconventional methods and specialised technology to extract the quantities available in these fields,” […] February 16, 2023
Analysis Construction Mega-projects to cushion Mena cement makers from global blows Cement producers in the Middle East are expected to have an “exceptionally good year” thanks to the region’s pipeline of mega-projects. Emir Adiguzel, director of the World Cement Association, said the global industry faced a difficult period but the Middle East would buck the trend. “According to our members located in the Middle East, the […] February 16, 2023
Manufacturing UK body spray maker Confetti maps Gulf expansion Gulf countries may be synonymous with luxury but there’s a gap in the fragrances market for lower cost products, according to Ori Leslau, founder and chief executive of Confetti Group. The UK company is about to launch in the UAE, then in Saudi Arabia later this year. Marketed as “perfume in a can”, Confetti’s products […] February 15, 2023
Manufacturing Gulf fragrance market strikes the right note Some of the Middle East’s biggest perfume makers, including Chalhoub Group and Ajmal Perfumes, are ramping up global growth plans as traditional Arabic scents gain in popularity abroad. Luxury brands franchisee and distributor Chalhoub is close to striking deals to export its own fragrance brand, Ghawali, to countries including the UK and France. The first […] February 14, 2023
Manufacturing Saudi Arabia seeks foreign and local mining firms to join big dig Saudi Arabia is inviting local and international mining companies to bid for licences on five exploration sites across the kingdom. The Ministry of Industry and Mineral Resources said on Monday it had launched pre-qualification for the licensing round, as Riyadh steps up the search for foreign investors as well as efforts to explore its reserves […] February 13, 2023
Analysis Manufacturing Heavy metal and fine porcelain boost Ras Al Khaimah economy Ras Al Khaimah has been making up for its limited hydrocarbons sector by developing non-oil businesses such as quarrying, cement, ceramics and pharmaceuticals. Today RAK’s manufacturing, wholesale and retail trade, along with its construction/real estate activities amount to about 50 percent of GDP. The direct contribution of the mining and quarrying sector is currently only […] February 8, 2023
Tech PIF and AeroFarms to build indoor vertical farms across Mena The Public Investment Fund (PIF) has signed a joint venture agreement with AeroFarms, a US-based sustainable indoor agriculture company, to build and operate indoor vertical farms across the wider Middle East and North Africa (Mena) region through a newly-established company in Riyadh. The agreement will optimise the utilisation of natural resources, including water and agricultural […] February 2, 2023
Tech Farming tech startup moves HQ from Europe to UAE A Finnish tech startup is swapping the green countryside of Northern Europe for the Arabian desert as it looks to grow its urban farming business. iFarm was invited in November to join the incentive programme of Abu Dhabi’s Hub71, the technology project led by Mubadala Investment Company and backed by the Government of Abu Dhabi. […] February 1, 2023
Energy Luxembourg firm commits $50m investment to Saudi mining A Luxembourg-based natural resources group is set to enter Saudi Arabia with an initial $50 million investment as the kingdom looks to attract more foreign companies to its burgeoning mining sector. Eurasian Resources Group (Erg) said there is potential to grow its Saudi investment year-on-year, adding that it will prioritise large scale, early-stage exploration for […] January 31, 2023
Manufacturing Israeli EV startup targets Europe with small urban model Israeli electric vehicle (EV) startup City Transformer aims to launch production of its small urban CT-2 model in Western Europe by the end of 2024 and will soon launch a Series B funding round to raise $50 million, the company said on Monday. Chief executive Asaf Formoza told Reuters the company, which has so far […] January 30, 2023
