A startup for startups might sound like a bit of a far-fetched idea at first. But not after Philip Bahoshy has explained the concept behind floating a venture called MAGNiTT. A British-Iraqi entrepreneur who has been living in Dubai for more than seven years, Philip acquired a B.Sc. in Economics from the London School of Economics and then an MBA from INSEAD, following which he decided to set off on the path of entrepreneurism. He realised, however, that is not as easy to get the ball of independent business rolling as management programmes will have you believe. Most fresh entrepreneurs end up with a lost struggle, mostly due to the frustration that stems out of getting concept validation, guidance and support, and funding opportunities. That is what set Philip to think about how he could help change this situation. And thus was born MAGNiTT.
In an attempt to accelerate growth of the Middle East and African hotel landscape, Aleph Hospitality, a pioneering third-party hotel management company founded by industry veteran Bani Haddad and headquartered in Dubai, announced its official launch with the unveiling of the company’s new website, alephhospitality.com.
Increasing high-speed connectivity, cheaper Pay TV, high-definition (HD) TV, and the growing adoption of Over-The-Top (OTT) videos will redefine the business environment for the MENA media industry in the next five years. This is the finding by Frost & Sullivan, a growth partnership company, which is the knowledge partner for CABSAT 2016, a leading conference and exhibition for broadcast and digital media industry in the MENA that will be held from March 8-10 at the Dubai World Trade Centre. Frost & Sullivan will release a ‘state of the industry’ report on March 8. This in-depth industry insight will share key findings of the industry trends in media content marketplace, changing business models, viewership habits, technology trends, drivers and challenges, factors driving technology investment, and a technology investment index of countries in the region.
Given the fact that the passenger car and commercial vehicle sales in the UAE grew at a CAGR of more than 10 per cent during 2010-2014 with the rate of growth expected to spill over into 2016, it is but obvious that this will benefit both, the tyre and the replacement tyre market across the United Arab Emirates. Major cities in the UAE such as Dubai, Abu Dhabi and Sharjah are among the leading demand generators for tyres, and are anticipated to continue as the primary contributors to the growth of the region’s tyre market over the forthcoming years.
Dubai, U.A.E. – 2nd March, 2015 – The 2025 strategic economic plan aimed at doubling the economy from the current USD 415 billion in the next decade necessitates investments to the tune of USD 1.5 Trillion. The country thus epitomizes an untapped and fully resplendent goldmine that is fast attracting the attention of global opportunity miners. The Iranian Government’s ambitious efforts to make the country globally competitive are directed towards creating a favourable business climate for companies to enter and invest in developing its core focus sectors.
Partnership with Portugal-based steel manufacturer decreases material lead time by 50%
iCertainty and Zebra Technologies Corporation (NASDAQ: ZBRA), a global leader in solutions and services that provide real-time visibility into organizations’ assets, people and transactions, today announced a new mobile food safety solution that can be licensed by hospitality establishments worldwide. Leveraging Walt Disney Parks and Resorts’ safety technology and best practices, the innovative Disney CHEFS®, powered by iCertainty, food safety solution is ideal for large worldwide restaurant chains seeking to improve food safety, deliver a better customer experience and eliminate paper-based processes.
The Kingdom’s largest gathering of downstream professionals returns in March and will be held under the Patronage of the Custodian of the Two Holy Mosques, King Salman bin Abulaziz Al Saud. The Saudi Downstream Forum 2016 will take place between 8-10 March 2016 at Al-Fanateer Cultural Center, Jubail Industrial City, Kingdom of Saudi Arabia.
With the economies of the Middle East and North Africa (MENA) impacted by the unrelenting low oil prices and persisting regional instability, their insurance markets are likely to face repercussions. Such, in fact, is the severity of the decline in the market price of crude that the price per barrel in January 2016 stood at approximately a quarter of its market value two years ago, and at the lowest point since 2003. Moreover, despite the substantial fall in the price of oil, there are further potential headwinds that can place greater pressure on the sector, including reduced levels of demand from emerging economies such as China, increased shale oil extraction mainly from the United States, and the prospect of Iran re-entering the market as a major supplier following the removal of certain oil-related sanctions.
As compared to the performance of the insurance market in the United Arab Emirates (UAE) in 2014, the results of 2015 have been disappointing. According to preliminary disclosures of national insurers listed on the Abu Dhabi Securities Exchange and Dubai Financial Market (DFM), there has been a marked deterioration in operating performance, resulting in losses. Despite that, however, the UAE remains an attractive market, with a growth in premium revenue of 7.4 per cent during 2015. The market is also highly competitive with national, regional and international insurers in the fray.