George Richani-CEO-Al Ahli Bank of Kuwait

Next-gen living: A national campaign is under way to create the fourth generation of new cities to boost quality of life and alleviate urban strain

The development of a fourth generation of cities across Egypt – including the New Administrative Capital (NAC), New Alamein and New Aswan City – will be a key driver of construction activity in the coming years. These developments are expected to raise the competitiveness of the local market, enhance living standards and generate employment opportunities. New Cities The new cities programme dates back to the 1970s. The current phase of development, the so-called fourth generation of cities, was announced in 2018 shortly after the country’s

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

Greener footprint: The shipping industry works to lower its environmental impact

As environmental concerns become increasingly pressing for governments and businesses alike, the shipping industry is taking steps to reduce its carbon footprint. In August 2021 Danish shipping company Maersk, the world’s largest container shipping line, announced that it had invested $1.4bn in eight new vessels to be powered by methanol, rather than oil-based fuels. The ships, expected to be delivered in 2024, represent 3% of the company’s container capacity. They will replace older ships and are expected to save up to 1m tonnes of CO per year. Under the terms of the deal with South Korean manufacturer Hyundai Heavy Industries, Maersk has the option to

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

Port of call: Maritime network upgrades and digitalisation efforts aim to boost capacity and competitiveness

The government of Egypt’s long-term strategy for transport is based on maintaining a reliable logistics value chain by increasing the efficiency and competitiveness of its infrastructure. The Covid-19 pandemic affected global supply lines and caused disruptions to transport connections and cross-border travel from 2020 into 2022, with demand shocks being felt across multiple sectors. Moreover, the February 2022 Russia’s invasion of Ukraine caused a worldwide surge in commodity prices – including food and oil – putting further pressure on logistics chains and increasing headline inflation.

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George Richani-CEO-Al Ahli Bank of Kuwait

Primed for growth: Digital transformation and a surge in online shopping position the e-commerce segment for future development

Egypt’s young, urban and tech-savvy population and well-connected middle class, combined with rising internet and mobile penetration rates, are driving the expansion of e-commerce. Confidence in the space has grown considerably since the onset of the Covid-19 pandemic, with sector revenue increasing at a rate of around 30% in 2018 and 2019 before escalating to almost 70% in 2020 and over 40% in 2021 as consumers ordered more goods – especially groceries – online and the authorities took steps to support e-retail. The Egyptian e-commerce

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

At the source: Ensuring food supply is proving a promising area for investment

Nations in MENA have been intensifying efforts to increase their food security, with Russia’s invasion of Ukraine the most recent geopolitical event to underline the fragility of global supply chains, as well as the importance of boosting domestic agricultural output. Together, Russia and Ukraine account for some 29% of the world’s wheat supply, pointing to the significant risk in terms of both availability and price to major grain-importing countries. Egypt is the world’s largest wheat importer, with nearly 70% of its supply coming from Russia and Ukraine, according to 2019 figures from the Observatory of Economic Complexity. The UAE, for its part, sources around half of its wheat from

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

Secure assets: A new secondary platform, measures to boost foreign ownership and an active fixed-income segment help to deepen the market

Uncategorized

With a strong performance in the early months of 2022, Qatar’s capital markets have demonstrated their resilience in the face of global and regional uncertainties. This growth is likely to continue in the year ahead, boosted by the global economic recovery and Qatar’s key role in supplying the world with energy. At the same time, recent reforms to foreign ownership rules – including a law allowing up to 100% overseas shareholding in listed companies – demonstrate a continuing policy of economic openness, encouraging international investment.

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

Expanding horizons: Liquefied natural gas output is set to rise as countries look to diversify their sources of energy

In recent years Qatar – one of the largest exporters of liquefied natural gas (LNG) – has embarked on a strategy to expand production from its North Field. Russia’s invasion of Ukraine in February 2022 underscored the importance of the project, as European countries move to diversify away from Russian-sourced coal, oil and gas. The offshore field is one of the world’s largest non-associated natural gas fields, and the first phase of the expansion project is poised to increase Qatar’s liquefaction capacity from 77m tonnes

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George Richani-CEO-Al Ahli Bank of Kuwait

The long game: Impact of rising global oil prices on the shift towards renewables

After opening 2022 at around $78 per barrel, Brent crude prices rose sharply over the next few months to surpass $127 on March 8 – the highest price in 14 years, driven in part by Russia’s invasion of Ukraine – before moderating slightly to around $106 as of midMarch. Although investment in oil and gas has fallen by about 30% since the outbreak of the pandemic, there are signs that the increased demand and rise in prices could lead to a reversal of that trend. Carbon Tracker, a London-based climate change-focused think tank, noted in January 2022 that higher oil prices might encourage energy companies

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George Richani-CEO-Al Ahli Bank of Kuwait

Chemical reaction: Catalysing investment in the region’s downstream chemicals and petrochemicals production and export capacity

With Russia’s invasion of Ukraine reigniting international debate about the pace of the global energy transition and the risks of relying on oil and gas imports from countries with opposing agendas, discussion in the Gulf is largely framed around how to extract maximum benefit from the remaining hydrocarbons wealth while also playing a responsible role in global efforts to both mitigate climate change and maintain stability in international energy supply. The UAE has pledged to meet net-zero carbon emissions by 2050, while Saudi Arabia and

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

Powering the transition: Hydrogen holds promise for sustainable energy in the Gulf

With hydrocarbons-rich countries in the Gulf increasingly looking to reduce their carbon emissions, some in the region are turning to multi-coloured hydrogen as a more environmentally sustainable solution. Along with renewable sources like solar and wind, hydrogen is regarded as a potential low-carbon or zero-carbon fuel that is key to the transition away from fossil fuels. However, different types of hydrogen have different impacts on the environment. Blue hydrogen is created when natural gas undergoes a steam reforming process. Although this process also produces CO vast majority of it is captured and stored, thereby producing a low-carbon fuel. The most environmentally friendly form is green

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