Author: OBG Admin

Daniel Asare-Kyei-CEO-Esoko; Curtis Vanderpuije-CEO-ExpressPay; and Daniel Marfo-General Manager-Zipline Ghana

Checking in: The emirate aims to go beyond business and leisure offerings, providing medical tourism services

Posted OBG AdminPosted in Uncategorized

  Dubai’s appeal as a vacation destination and its increasing standards of health care are ensuring steady growth in the emirate’s medical tourism industry. At current rates of expansion, the Dubai Health Authority (DHA) target of attracting 500,000 medical tourists by 2021 seems within reach, although it will require the help of the high influx of travellers expected for Dubai Expo 2020, a global entertainment and cultural event. Tourist Profile Figures from the DHA indicate that 337,000 medical tourists visited Dubai in 2018 and spent

Éric N’guessan-Managing Partner-EY Côte d’Ivoire

Digital age: Technological solutions are tapped to improve speed, efficiency and patient outcomes

Posted OBG AdminPosted in Uncategorized

  As Dubai aims to become a leader in health care delivery, while simultaneously being the region’s focal point for ICT, sector innovation is flourishing. Capitalising on global growth in health care technology application, government bodies and private sector tech companies are collaborating to introduce more efficient solutions throughout the health care value chain. Start-Ups Dubai is home to a thriving ecosystem of health innovation, with more than 60 health tech start-ups located in the emirate as of June 2019. These include AlemHealth, a diagnostic telemedicine services provider that assists care provision in developing countries by connecting local providers to a global network of data

George Richani-CEO-Al Ahli Bank of Kuwait

Growth zone: International agreements and new centres for innovation spur investment in Dubai Internet City

Posted OBG AdminPosted in Uncategorized

  The opening of a new innovation centre and the success of local start-ups highlights the continued centrality of Dubai Internet City (DIC) to the emirate’s ICT and innovation sector. The free zone, which opened in 2000, began its operations by attracting many of the world’s most significant technology multinationals – including IBM, Cisco, Oracle and Microsoft – to establish their regional headquarters in the DIC. Between 2000 and 2018 the DIC attracted a total of Dh7.8bn ($2.1bn) in investment, and this figure has since

Daniel Asare-Kyei-CEO-Esoko; Curtis Vanderpuije-CEO-ExpressPay; and Daniel Marfo-General Manager-Zipline Ghana

The next phase: Investment-focused plans to repurpose Expo 2020 infrastructure

Posted OBG AdminPosted in Uncategorized

  As Dubai looks ahead to Expo 2020, activity across numerous sectors related to the mixed-use District 2020 legacy project could catalyse rapid progress in the emirate’s plans to build an innovation-driven economy. District 2020 is the emirate’s project to rapidly repurpose the site of Expo 2020, building a new commercial and residential area, built around a technology-oriented business ecosystem. In September 2019 Shanghai-based investment firm Atlas Capital Holding became the latest company to follow Siemens and Accenture, among others, in committing to the project. In a move that significantly bolsters the tech credentials of the proposed development, Atlas Capital Holding will build a 15,000-sq-metre

Sheikh Ahmad Duaij Jaber Al Sabah-Chairman-Commercial Bank of Kuwait

Growth ahead: Major index providers upgrade Kuwait to emerging market status

Posted OBG AdminPosted in Uncategorized

  The reforms that have been carried out by the authorities to develop Kuwait’s market have been recognised by the international investor community via inclusions in influential emerging market indices. This should be of considerable benefit to the market, encouraging professionalisation and driving performance. New Ranks  In the second half of 2018 Kuwait was included in the FTSE Emerging All Cap Index. A total of 12 Kuwaiti stocks were included for a combined weight of 0.5%, which had risen to 15 stocks for a weight of 0.91% by July 2019. Then, in December 2018 S&P Dow Jones announced that it would include Kuwait in its

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

Strategic expansion: Calculated agreements aim to strengthen Kuwait’s presence in regional banking and investment

Posted OBG AdminPosted in Uncategorized

  Two major transactions were under way in Kuwait’s financial sector in mid-2019. First, KAMCO Investment Company, the investment banking subsidiary of Kuwaiti conglomerate KIPCO, was merging with Global Investment House (GIH), another local investment firm. Second, Kuwait Finance House (KFH), the country’s largest Islamic bank, was looking to purchase Ahli United Bank (AUB) of Bahrain for around $8bn. Making Moves The joining of KAMCO and GIH is the largest merger in Kuwait’s investment sector and follows the 70% stake in GIH that KAMCO acquired

Sheikh Ahmad Duaij Jaber Al Sabah-Chairman-Commercial Bank of Kuwait

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

Posted OBG AdminPosted in Uncategorized

  With both economic diversification plans under way across the region, GCC states are seeking to bolster international trade relations and draw in foreign investment. Regional governments have found a willing partner in China, which is seeking to expand its trade and investment presence on the Eurasian continent, as demonstrated by its 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

Éric N’guessan-Managing Partner-EY Côte d’Ivoire

Strategic sales: Privatisation is part of a national plan to create a new economic model with reduced reliance on oil and gas revenue

Posted OBG AdminPosted in Uncategorized

  February 2019 saw the government complete its selloff of a 44% stake in Boursa Kuwait, the country’s stock exchange, which is due to be followed by an initial public offering of a further 50% in late 2019. The sale followed a year of promising performance for the exchange, in addition to the June 2018 announcement that the bourse will soon be included in the main emerging markets index of global financial information provider MSCI – a move that is expected to bring approximately $2.8bn

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

Let’s get digital: Financial technology is changing the local banking landscape

Posted OBG AdminPosted in Uncategorized

  While the digital revolution has swept through many industries, the Kuwaiti banking and finance sectors remain largely unchanged. However, there is a definite sense that digital innovations are gaining ground as banks establish financial technology (fintech) departments in order to guide policy. Technology has the potential to reform the face of banking, and the way in which changes are implemented in the short term will be key. Mobile and online banking, e-payments and new regulations will be important areas of development moving forward. Digital Advancement While a seamless, instant, peer-to-peer payment system remains largely unavailable on a global scale, fintech is becoming key to

Daniel Asare-Kyei-CEO-Esoko; Curtis Vanderpuije-CEO-ExpressPay; and Daniel Marfo-General Manager-Zipline Ghana

Worth the wait: A long overdue law brings big changes to the sector

Posted OBG AdminPosted in Uncategorized

  A new insurance law was approved by the Kuwaiti Parliament in July 2019 to support the maturation and growth of the sector. While premium are likely to rise in the short term and a gradual consolidation of the sector is expected, a more viable, lower-risk environment is set to emerge in the coming years. Modern Solutions The insurance market in Kuwait was previously governed by a law dating back to 1961, thus the legislation has been widely regarded as needing modernisation. According to local media, in May 2019 Khaled Al Roudhan, minister of commerce and industry, and minister of state for services affairs, said