Analysis The billion-dollar question: what does it take to make a unicorn? Can the UAE meet its target of being home to 20 unicorns by 2031? Only if entrepreneurs, venture capital and the government work together to build companies that can truly “translate across borders”, according to experts. Today the UAE has just three startups valued at $1 billion: Vista Global, Emerging Market Property Group and Kitopi. […] August 1, 2022
Opinion Dubai, Singapore and the battle for tech startup supremacy The relationship between the GCC and Southeast Asia has entered a new phase of competition and co-operation as both aim to lure founders August 1, 2022
Dubai lessor asks Indian regulator to de-register 3 SpiceJet planes A Dubai-based lessor of SpiceJet Ltd has asked India’s aviation regulator to deregister three of the budget airline’s planes as SpiceJet struggles with high costs and maintenance challenges. The United Arab Emirates aeronautics firm AWAS did not specify why it was seeking to deregister the three Boeing 737s in Friday’s notification, published by India’s aviation […] August 1, 2022
Exclusive New $800m ‘ultra app’ aims to shake up crowded Gulf market A Dubai-based serial entrepreneur has raised hundreds of millions of dollars to set up a new digital platform that he claims will disrupt the way people communicate, shop, pay, and transact, when it launches later this year. Abdallah Abu Sheikh, founder of Dubai-headquartered Astra Tech, calls his product, which is as yet unnamed, an ultra […] August 1, 2022
Analysis Inside Dubai’s big $4bn metaverse push The UAE is punting big on the next iteration of reality. Crown prince Sheikh Hamdan bin Mohammed announced the launch of the Dubai Metaverse Strategy earlier this month, with an aim to place the emirate among the top 10 metaverse economies in the world. Many observers may have been sceptical but there are already early […] July 30, 2022
Opinion Blockchain tech helps businesses align with environmental goals Sustainable businesses are evolving a new type of capitalism – one that replenishes what it takes out July 29, 2022
Analysis MENA startup funding poised to recover in second half of 2022 Last year was a standout for Middle East and North African startups in which many notable records were broken, including the largest funding round to date and the highest number of deals. The total amount of investment raised by regional startups was pushed to $2.8 billion across 639 deals. This constituted a quadrupling of investment, […] July 29, 2022
Opinion Tech Cutting red tape will catapult UK businesses into the GCC Opportunities abound in areas such as technology, sustainability and real estate but the governments must simplify their legislation July 27, 2022
Analysis Retail Ecommerce or bust: in-depth analysis on Gulf online shopping The coronavirus pandemic encouraged many people to embrace online shopping for the first time, leading to a huge spike in global ecommerce. But what does the sector look like now across the Middle East and North Africa? Its three largest ecommerce markets are the UAE, Saudi Arabia and Israel, and together they account for more […] July 27, 2022
Manufacturing Kuwait sovereign wealth fund invests in Italian ATM operator Italian fund FSI, the main investors in which include state lender CDP and the sovereign wealth funds of Kuwait and Singapore, has signed a preliminary deal for an investment in payments card and cash machine operator BANCOMAT. FSI and BANCOMAT have agreed the terms under which FSI is set to invest in BANCOMAT “to sustain […] July 27, 2022
Energy Saudi and Greece seal deal on undersea data cable Greece and Saudi Arabia on Tuesday sealed a deal to lay an undersea data cable that will connect Europe with Asia and discussed the possibility of linking their power grids to supply Europe with cheaper green energy. Greece and Saudi Arabia agreed in May on the main terms of a planned joint venture to build […] July 27, 2022
Banking and Finance Huobi heads for Dubai as report dubs UAE ideal location for crypto Hong Kong-based exchange granted provisional licence by Dubai's VARA as UAE is ranked at No 4 in list of world's top 'crypto-ready' countries July 26, 2022
Emirates space agency names astronaut for 6-month ISS mission Sultan Al Neyadi, 41, will lift off for the International Space Station next spring, in a mission set to boost the UAE's burgeoning space sector July 25, 2022
Opinion Mark your diaries: the human longevity revolution is coming Ageing populations can be a challenge, but they're a huge opportunity too. By 2030, spending by senior citizens will make up 10 percent of global GDP July 25, 2022
Analysis The Surpluss aims to be ‘Airbnb of business’ in Dubai Just like Airbnb offered an alternative to hotels and Uber challenged the taxi market, Dubai-based Rana Hajirasouli says she wants to “instigate a paradigm shift” to disrupt how companies manage their business resources, while playing a key role in the circular economy. Hajirasouli plans to launch The Surpluss next month, and the best way to […] July 25, 2022
Economy Saudi crown prince to visit Greece to sign energy, telecoms deals Saudi Crown Prince Mohammed bin Salman will visit Greece on Tuesday, July 26 to meet Prime Minister Kyriakos Mitsotakis, the Greek foreign ministry has confirmed. The ministry said the pair were due to sign bilateral deals, without giving details. A Greek diplomatic source told Reuters the deals were in the fields of energy, military cooperation, […] July 25, 2022
Energy Dubai’s DEWA to invest over $10bn as energy demand rises Dubai Electricity and Water Authority (DEWA) plans to invest 40 billion dirhams ($10.89 billion) on capital expenditure over the next few years, just a day after it announced energy demand in the emirate rose by 6.3 percent year-on-year in the first half of 2022. The firm provides electricity and water services to 3.5 million people […] July 21, 2022
Exclusive UAE tech firm Arrow Labs plans major European expansion Arrow Labs is planning a major expansion into Europe as more companies seek to improve remote working practices. The UAE-based technology company which offers digital workflow solutions, has announced its entry into the Greek market after securing a “significant” new contract with one of the world’s largest industrial gas manufacturing companies. Having attracted renowned Silicon […] July 20, 2022
Opinion Banks should set aside pride and embrace their fintech peers Traditional financial players need to be bold – and accept that the market needs fintech entrepreneurs July 20, 2022
Tech US approves $980m sale of C-17 aircraft support to UAE The US State Department has approved the potential sale of C-17 aircraft sustainment and related equipment to the United Arab Emirates for an estimated cost of $980.4 million, the Pentagon said on Tuesday. Despite approval by the State Department, the notification does not indicate that a contract has been signed or that negotiations have concluded. […] July 20, 2022
Analysis Banking and Finance One in 10 financial transactions in UAE are malicious cyberattacks An average of one in 10 financial transactions in the UAE are malicious attacks carried out by cybercriminals, with the number of such attacks on the rise in the last 12 months, according to an industry survey. The UAE’s rapid digitisation of company operations, and the rise in popularity of e-commerce platforms during the pandemic […] July 19, 2022
Israeli general makes first visit to Morocco to explore defence deals The chief of Israel’s armed forces is visiting Morocco in the highest-profile military engagement between the countries, which upgraded ties in 2020 under a US diplomatic drive. Lieutenant-General Aviv Kochavi’s trip on Monday has been presented by Israel as part of emerging defence cooperation with the North African country, but Rabat has also been trying […] July 19, 2022
