Tech Technology is ‘biggest disruptor’ for regional CEOs this year Two-thirds of chief executives in the Middle East view technology as having the biggest potential to disrupt their businesses in 2023 and beyond, above supply chain, regulations, energy and other issues. For its latest annual CEO Survey, PwC asked 4,410 chief executives across 64 countries the extent to which a range of potential disruptions would […] January 27, 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
Exclusive Banking & Finance Mena is Binance’s fastest growing region for institutional investors Binance reported a 34 percent rise in the number of new Middle East and North Africa institutional investors adopting its cryptocurrency technology during the last quarter of 2022, the highest growth of all regions. The world’s largest crypto exchange attributed the results to strong appetite for digital banking and financial solutions in the region. This […] January 20, 2023
Opinion Tech The metaverse is alive and kicking Just as online shopping drove internet penetration, the metaverse’s immersive interaction between physical and digital worlds will power its adoption January 16, 2023
Healthtech provider targets early cancer detection across Mena Abdul Latif Jameel Health is planning to expand throughout the Middle East and Africa, its CEO Akram Bouchenaki has told AGBI. The multinational company – the healthcare business of Saudi family conglomerate Abdul Latif Jameel – is looking at new locations and tech innovations as part of its ambition to accelerate the region’s access to […] January 6, 2023
Analysis Banking & Finance Indian families shift wealth to UAE in ‘unprecedented numbers’ Indian families are coming to Dubai and other UAE cities in “unprecedented numbers” to set up financial structures to relocate their wealth. Industry experts say the Emirates is attracting significant numbers of Indian family offices thanks to “compelling characteristics” such as the relaxation of business ownership rules, residency options and the promotion of golden visas. […] January 4, 2023
Opinion Economy Dubai SMEs will thrive in the digital economy Dubai is going from strength to strength, and startups and SMEs are at the heart of government strategies to diversify its economy and expand non-oil sectors December 30, 2022
Saudi courts world’s universities to meet rising demand Rapid population growth, changing workforce needs and a preference for citizens to study in their own country is fuelling demand for higher education places in Saudi Arabia. A total of 2.8 million seats are needed by 2030, according to research by consultancy Colliers. The figure represents a 42 percent increase, or 900,000 additional places over […] December 30, 2022
Tech DIFC Courts issues rules for robots, drones, AI and fintech The Dubai International Financial Centre (DIFC) Courts has issued a fresh set of rules designed to address digital business disputes across the emirate. The rules range from big data, blockchain, artificial intelligence, fintech and cloud services, to unmanned aerial vehicles, 3D printing and robotics. Established in 2004, the DIFC Courts is the English language, independent, […] December 14, 2022
Construction Damac expands to the Maldives with resort deal Damac Properties is expanding further into South Asia with the signing of an agreement to operate a new Mandarin Oriental resort in the Maldives. The 34-hectare luxury resort, which is currently under development and will stretch across three private islands on the Bolidhuffaru Reef, is due to open in 2025 and will be the Dubai […] December 6, 2022
Exclusive Dubai firm using AI to plot corporate sentiment in the Gulf A UAE management consultancy firm is using artificial intelligence to help companies understand corporate sentiment across sectors and regions. Iridium Advisors in Dubai uses AI analysis to scan and draw insights from 6.7 million words in 1,300 historic earnings calls from companies across the GCC, quantifying what management teams, investors and analysts are telling the […] November 30, 2022
DIFC Courts investing in metaverse and blockchain The DIFC Courts plan to enter the metaverse and use blockchain technology to make instant settlements following a judgment. Established in 2004, the DIFC Courts are the English language, independent, common law legal system for the Dubai International Financial Centre (DIFC) free zone, the emirate’s main financial hub. In 2017 the court partnered with the […] November 23, 2022
Opinion How technology can power lifelong learning The analogue approach can no longer keep pace with student or employer demands. Data management is the answer to enable real-time and lifelong learning November 18, 2022
Opinion Tech The digital world increasingly feeds into the real world Gaming and digital innovations are feeding into the real world with the rise of trends from virtual status symbols to mentor and mentee connections November 14, 2022
Sony unit takes stake in Gulf concert promoter The founders of an agency that has played a central part in revolutionising entertainment in the Gulf said on Thursday that a tie-up with New York-based Sony Masterworks will buy the operation time and space to expand and invest. Sony has acquired 55 percent of Mac Global for an undisclosed sum, Daniel Goldberg, one of […] November 4, 2022
Opinion Banking & Finance Islamic insurers face a turbulent year While growth prospects of Islamic insurers in the GCC remain favourable, weak profitability has been an issue for the sector November 2, 2022
EXCLUSIVE English language skills top of learning list for UAE workers An online course in English for career development from the University of Pennsylvania has emerged as the most popular course in the Mena region and among the top five courses in Gulf countries. In addition, a course in how to write professional emails in English from the Georgia Institute of Technology ranked among the five […] October 30, 2022
Banking & Finance Islamic finance to grow 10%, but struggles in new markets The global Islamic finance industry will expand by 10 percent in 2022 and 2023 thanks to strong economic growth in core markets, high commodity prices and relatively little impact from the Russia-Ukraine war. However, data from S&P Global Ratings forecasts shows that the sector has struggled to make inroads in non-traditional markets outside the Gulf. Excluding […] October 27, 2022
Analysis Food & Drink PIF sets up company to make Saudi a global hub for halal Saudi Arabia’s Public Investment Fund is launching a new business, the Halal Products Development Company (HPDC), to support the production of halal goods in the kingdom. The PIF company, unveiled today, aims to make Saudi Arabia a major exporter of halal products including food, cosmetics and pharmaceuticals. It also plans to drive innovation and efficiency […] October 24, 2022
Exclusive Interviews ‘The metaverse can change the way we school our children’ Some schools still rely on more traditional teaching methods but an Emirati entrepreneur believes the metaverse has the potential to extend the physical classroom experience. Using blended learning options such as augmented and virtual reality technologies, Amin Al Zarouni, CEO of UAE-based Web3 company Bedu, is aiming to give the Gulf’s education system an overhaul. […] October 23, 2022
Royal seal of approval for Polish firm to solve Gulf’s tech issue A member of the royal family in the UAE is backing a Polish firm’s entry to the Gulf as it aims to address the severe skill shortage in the region’s technology sector. Future Collars is a digital IT training company that has worked with Amazon, Accenture and BNP Paribas to train highly skilled workers. Headquartered […] October 19, 2022
