Exclusive Manufacturing Cars, property and superjets: Pagani plots future with PIF Horacio Pagani, founder of the supercar that bears his name, is open to further partnerships with Saudi Arabia’s Public Investment Fund as his company expands into luxury real estate and private jet design. PIF acquired a 30 percent stake in the Italian business in 2021. Pagani, who acts as its CEO and chief design officer, […] January 29, 2023
Food & Drink Forget ‘Dry January’ – more Gulf drinkers ditching booze all year Dry January, the initiative of abstaining from alcohol for the first month of the year, has become a yearly fixture in many people’s lives since it was launched by Alcohol Change UK in 2013, and the Middle East is no exception. “We definitely see sales increase in the UAE,” Erika Doyle, founder and managing director […] January 27, 2023
Egyptian gaming startup acquires Tunisian rival Galactech Egyptian startup GBarena, an esports platform operating across the Middle East, has acquired Tunisian rival Galactech in a share swap valued at $15 million. The deal comes as GBarena prepares to close its Series A funding later this year, with participation from investors in the US, Singapore and the Middle East and North Africa (Mena) […] January 26, 2023
Retail Indians buy homemade jewellery for less in Dubai Indians are travelling to Dubai to purchase jewellery made in their home country as it costs less in the emirates. Import duties, previously at 5 percent, were waived for jewellery exported from India to the UAE under the Comprehensive Economic Partnership Agreement (Cepa) signed between the two nations last year. “The prices are better,” said […] January 26, 2023
Dubai startup aims to disrupt Mena theme park sector Traditional, ride-based theme parks are being challenged by Dubai-based startup HyperSpace’s “physical parks for a digital world”, including AYA and House of Hype. HyperSpace opened the 40,000sq ft AYA, a digitally immersive experience park with interactive gardens, observatories and other spaces in Dubai’s Wafi Mall in December, bringing a metaverse dimension to the emirate’s entertainment […] January 26, 2023
Analysis Middle East on a roll as fastest growing theme park market The Middle East and North Africa is set to be the fastest-growing region for investment in amusement parks, as developing economies create attractions to lure visitors. Consumer spending at theme parks and related destinations in the Mena region is projected to grow at an annual rate of 10.9 percent, from $282 million in 2019 to […] January 23, 2023
60 seconds with... Lifestyle Perihan Abouzeid, founder of PeriCare nursing pods Perihan Abouzeid set up PeriCare, a Dubai-based company focused on building products that serve the needs of working mothers and mothers on the go. It became a revenue-generating startup within the first month of operations and has featured at major events like Gitex and Dubai Design Week. What does your company do? Our flagship product […] January 20, 2023
Analysis Retail Diamonds (from a lab) are the Gulf’s best friend Basma Chaieri began her business after watching the season two finale of Netflix’s hit series Explained. The November 2019 episode, which explored the growing popularity of lab-grown diamonds, prompted the Dubai resident to quit her travel job and enrol in gemology school to study the trade. “I thought why would anyone buy a real diamond […] January 20, 2023
Lifestyle Jacinda Ardern to step down as New Zealand leader New Zealand Prime Minister Jacinda Ardern on Thursday made a shock announcement she had “no more in the tank” to continue leading the country and would step down no later than early February and not seek re-election. Ardern, holding back tears, said that it had been a tough five and a half years as prime minister and […] January 19, 2023
Saudi Arabia Vision 2030 Saudi sets up fund targeting global events sector Saudi Crown Prince Mohammed bin Salman has launched a fund that aims to position the kingdom as a global hub for cultural, tourism, entertainment and sports events. The Events Investment Fund (EIF) will conceptualise, finance and oversee the development of more than 35 venues by 2030, diversifying the Saudi economy and “increasing its share of […] January 17, 2023
EXCLUSIVE Retail Saudi Arabia’s bid to be the next global fashion powerhouse It will not be long before Saudi Arabia produces a global fashion powerhouse brand to rival Louis Vuitton and Chanel, according to the man tasked with fulfilling the kingdom’s catwalk ambitions. “I have no doubt about that, the sky is the limit,” Burak Cakmak, CEO of the Saudi Fashion Commission told AGBI as designers from […] January 15, 2023
Analysis Food & Drink Dubai’s alcohol tax cut met with some cheers but more booze Dubai’s move to suspend the 30 percent tax on alcohol has triggered differing views about its impact on retail and hospitality businesses and their customers. Some experts say it will result in a short term boost in sales and will deter residents from travelling to other emirates to buy cheap liquor. But industry insiders disagree […] January 3, 2023
Banking and Finance Mena professionals vow to build up their savings in 2023 Saving money is the top new year’s resolution for Mena professionals, a survey has found. In the poll by jobs site Bayt.com, almost two-thirds (63 percent) of the 2,988 respondents said building a nest egg was their No 1 priority for 2023. Keren Bobker, a Dubai-based independent financial adviser and senior partner at Holborn Assets, […] January 2, 2023
Lifestyle Majid Al Futtaim opens Mena’s largest indoor snow park in Oman UAE-based Majid Al Futtaim has opened Snow Oman, the largest indoor snow park in Mena. The snow park in the Mall of Oman covers an area of 14,830 square metres with a “Desert Blizzard” theme. The park has rides such as the Mountain Thriller, Snow Bullet, Slide Winder, Cloud Climber, and Zorb Ball, unique attractions […] December 25, 2022
Analysis Real Estate Ski chalets are hot property for Middle East buyers Demand for high-end ski chalets from affluent Middle East buyers has surged, even though the price of a home on the slopes is rising at its fastest rate for almost a decade. Despite the pandemic’s impact on international travel, the specialist property market has benefitted from an influx of remote workers looking for semi-permanent bases […] December 25, 2022
How I got to the top Lifestyle Kemal Yazici, founder, Bedia Gallery Kemal Yazici is founder of Bedia Gallery, an art gallery and studio located in Al Khayat Avenue, Al Quoz, Dubai. What does your company do? Currently Bedia Gallery is exhibiting my artworks. However, in the very near future we will work together with Turkish and German artists and curators. Also, in the long term we […] December 23, 2022
Opinion Lifestyle Youthful optimism can help overcome our challenges Our Arab youth survey reveals a confident population seeking stability and opportunities for progress as well as greater civil liberties December 23, 2022
Lifestyle Tariff hike squeezes struggling Lebanese as reforms stall Every time a part of his old grey Mercedes breaks, 62-year-old Beirut cab driver Abed Omayraat faces a tough choice: go into debt to import an expensive car part, or raise fares for customers whose wallets are already drained by a severe economic crisis. It’s a dilemma he says has become more acute in recent […] December 19, 2022
Analysis Retail Time running out for Gulf’s luxury watch investors to cash in After a boom in haute horology over the past few years, with reports of shortages that even put royals on the waiting lists, prices for Rolex watches have started to fall. But some coveted pieces will always command a premium, collectors have said. The value of Swiss watch exports to the Middle East in 2021 […] December 17, 2022
Real Estate Dubai co-working startup eyes new funding as it goes global Hotdesk, an on-demand workspace booking platform based in Dubai, is preparing to launch a Series A round of funding as the startup continues to enjoy exponential growth throughout the region and globally. The company, which provides access to co-working spaces at the click of a button, was launched in 2021. It has since expanded into […] December 16, 2022
British lawyers aim to shake up Gulf legal sector Oryx Law, a British legal startup aiming to shake up the Gulf legal industry with the introduction of a new business model, has handled deals of around $1 billion for 30 clients in its first quarter of operation. The company was established by Natalie Boyd in the UK in 2018, where she mainly worked with […] December 16, 2022
Opinion Banking and Finance Life insurance: the gift of financial stability for the family left behind The point of life insurance is not just about the money but about what it means to your dependents December 15, 2022
