Author: OBG Admin

Chaim Zach-Managing Director and CEO-Agric International Technology and Trade; Kabiru Rabiu-Group Executive Director-BUA Group; and Aliyu Abbati Abdulhameed-Managing Director

The hunt for Asian unicorns: Innovative tech start-ups are emerging across South-east Asia

Posted OBG AdminPosted in Uncategorized

  The innovative tech scene in South-east Asia is quickly garnering international attention. For instance, a jolt occurred in the international tech industry in early 2018 when the Singapore-based ride-hailing app Grab announced that it would take control of the South-east Asian operations of its US-based competitor – and global first-mover – Uber. The purchase, which gave Uber a 27.5% stake in Grab, helped put the spotlight on the increasing competitiveness of tech start-ups across the region. Indeed, there are already at least 11 firms in South-east Asia that have achieved “unicorn” status – that is, start-ups valued at more than $1bn. The success of

Pham Hong Hai-CEO-HSBC Vietnam

In the pipeline: Dubai’s largest developers continue to add new retail stock

Posted OBG AdminPosted in Uncategorized

  With new communities to serve, as well as developments that aim to reinvigorate existing districts, some of Dubai’s most prominent real estate developers are increasing the number of retail options available to residents of and visitors to the emirate. In talks with real estate consultancy Knight Frank UAE, OBG learned that total gross leasable area (GLA) of retail supply is expected to increase by 111% from 3.5m sq metres to 7.1m sq metres by 2024. Nakheel Properties Located at Nakheel Properties Palm Jumeirah, the Nakheel Mall will add 111,000 sq metres of GLA at an estimated cost of Dh1.2bn ($326.6m) when it opens in

Chaim Zach-Managing Director and CEO-Agric International Technology and Trade; Kabiru Rabiu-Group Executive Director-BUA Group; and Aliyu Abbati Abdulhameed-Managing Director

Shifting patterns: Retailers adapt to changing trends in consumer behaviour

Posted OBG AdminPosted in Uncategorized

  Due in part to local demographic changes and broader economic factors, retailers in Dubai have noticed an evolution in the profile of the typical consumer. As such, the success of retail offerings in the coming years will depend on stakeholders’ ability to predict new trends in the emirate’s shifting consumer spending patterns. As for the purchasing power of visitors from the region and further afield, much will depend on broader economic factors as countries navigate a lower oil price environment. Demographic Challenge GDP per capita is one of the base indicators for spending power and retail growth. As Dubai’s population growth has surpassed GDP

Nhon Luc Ly-CEO-AIA Myanmar; Son Nguyen-Country President-Chubb Life Insurance Myanmar; Daw Zarchi Tin-CEO

A sleek strategy: The Dubai Silk Road strategy outlined in mid-2019 aims to capitalise on the emirate’s trade and logistics infrastructure

Posted OBG AdminPosted in Uncategorized

  According to the World Shipping Council, Dubai’s Jebel Ali is the 10th-busiest container port in the world, handling nearly 15m twenty-foot equivalent units (TEUs) in 2018. Developed in the 1970s, the facility is now the globe’s largest man-made harbour and the biggest port in the Middle East. It is the only port in the World Shipping Council’s top 10 located outside South Asia, a list dominated by China’s massive transport infrastructure – the largest of which is Shanghai, with an annual capacity of 42m

Nhon Luc Ly-CEO-AIA Myanmar; Son Nguyen-Country President-Chubb Life Insurance Myanmar; Daw Zarchi Tin-CEO

Looking east: Enhanced cooperation and investment across a range of sectors is strengthening ties between China and the GCC

Posted OBG AdminPosted in Uncategorized

  Amid economic diversification plans under way across the region, GCC states are seeking to both bolster trade relations with countries across the world and draw in foreign investment. Regional governments have found a willing partner in China, which is forging ahead with its bold Belt and Road Initiative (BRI). In 2014 President Xi Jinping of China laid out a blueprint for the development of Sino-Arab cooperation, referred to as the 1+2+3 framework. Energy was identified as the first pillar of that cooperation, reinforced by

George Richani-CEO-Al Ahli Bank of Kuwait

Legacy project: Strategic preparation and infrastructure development positions Expo 2020 to bring benefits beyond the end of the gathering

Posted OBG AdminPosted in Uncategorized

  Dubai’s hosting of the 173-day Expo 2020 has functioned as both an economic stimulus and strategic focal point for years. Having spurred investment in the emirate since 2013, most observers agree that the commencement of the long-anticipated event will provide a useful fillip to several economic sectors. The larger question, however, is on the event’s long-term impact. This is also a concern of some of the world’s major rating agencies. “We expect to see a pick-up in growth during 2020 as a result of

Nhon Luc Ly-CEO-AIA Myanmar; Son Nguyen-Country President-Chubb Life Insurance Myanmar; Daw Zarchi Tin-CEO

Securing the future: Debt instruments help transform Dubai exchanges from simple long markets to investment platforms

Posted OBG AdminPosted in Uncategorized

  Despite the ubiquity of futures trading on advanced markets around the globe, they remain a relatively new concept in the Gulf. Futures represent an essential risk-management tool for fund managers, and their arrival to the region has long been anticipated by stakeholders. In this regard, Dubai has established itself as a regional pioneer, with three of its markets either offering futures products or providing a basis for futures products from other domestic exchanges. Hard Sell Critics have long acknowledged the benefits of forward contracts

Daouda Coulibaly-Managing Director-Société Ivoirienne de Banque

Confidence booster: Arrival of large US brokerage firm a boon for the local market

Posted OBG AdminPosted in Uncategorized

  Despite the real estate market’s subdued performance, one of the largest brokerage firms in the US opened up a new office in the emirate, which is expected to boost investor confidence and reinvigorate the sector. In May 2019 Berkshire Hathaway HomeServices (BHHS) announced its arrival in the Middle East market with the opening of a new office in The Greens. The UAE has become its fourth overseas market, following London, Berlin and Milan. Broad Reach The BHHS’s decision is a major confidence boost for the sector, which has seen prices slump in recent years. The BHHS office will house a team of 30 real

Mohammed El Etreby-Chairman-Banque Misr

Positive signs: Investment in property related to Expo 2020 begins to bear fruit

Posted OBG AdminPosted in Uncategorized

  The long-anticipated Expo 2020 will run from October 20, 2020 to April 10, 2021. Located close to Dubai World Central airport in Dubai South, the site of the event is expected to cover a total of 438 ha. Expo 2020 will be the first of its kind in the MENA region, and under the theme of “Connecting Minds, Creating the Future”, it aims to act as a convening point for innovative technologies and business leaders across the world. The event is forecast to attract 25m visitors, 70% of whom will be foreigners. In a report published in April 2019, global consultancy EY predicted that

Nhon Luc Ly-CEO-AIA Myanmar; Son Nguyen-Country President-Chubb Life Insurance Myanmar; Daw Zarchi Tin-CEO

Bright future: Dubai is positioning itself as a regional and global leader for renewables, particularly solar energy

Posted OBG AdminPosted in Uncategorized

  With the Dubai government allocating $163bn to diversify its energy sector until 2050, including a $27bn fund for renewables, the emirate is rapidly emerging as a global centre for research and innovation for solar and other green power projects. On Track As part of the Dubai Clean Energy Strategy, the emirate aims to increase its share of clean energy sources on the grid to 75% by 2050. As of early 2017, 90% of energy needs in Dubai and the UAE were serviced by natural