UAE’s e& acquires $400m stake in Careem
UAE’s Emirates Telecommunications Group Company (e&) has announced the acquisition of a majority stake worth $400 million in the Careem super-app, owned by Uber. e& will become a majority investor alongside Uber who will still remain the whole owner of Careem. The move accelerates Careem’s plans towards becoming an “everything app” in the region. Currently, […]
Qatar World Cup to generate $4 billion revenue
Hospitality, f&b, sports merchandise and fashion sectors are projected to garner the larger share of the spends by the football fans and tourists during the November-December world cup period The forthcomingFIFA World Cup in Qatar is predicted to generate about $4 billion revenue opportunity from tourist expenditure in the Middle East, a new research report […]
UAE Gender Balance chief hails move to appoint more women to the board
Sheikha Manal says move is ‘vital step towards further empowering women’ in line with international best practices The UAE has become the first in the region to issue binding legislation mandating women’s representation on the boards of government institutions. Sheikha Manal bint Mohammed bin Rashid Al Maktoum, president of the UAE Gender Balance Council, on […]
Digital Disruption in The Middle East
The Middle East is on the verge of a massive digital disruption. In the past decade, the cross-border data flow, connecting the Middle East to the rest of the world, has increased more than 150-fold. Several countries—including Bahrain, Qatar, and the UAE are leading the digital consumer charge, with high smartphone-adoption rates and social-media use. […]
The Changing Landscape of the Luxury Goods Industry
How do we define luxury? By price? A particular set of attributes? Or by distribution and exclusivity? Though its characterisation may be ambiguous, one thing is for certain; luxury has made its way into the hands of the masses. This is partly due to corporations taking ownership of luxury brands and lowering price points of […]