Geidea, a leading fintech company in the region, has announced its participation in the 2022 ‘Techne Summit’ in Alexandria as part of its commitment to unleashing SME success and participation in the digital economy by widening access to digital payment solutions.The Techne Summit is one of the world’s biggest multi-industry-focused investment and entrepreneurship events, bringing together technology startups, fintech companies, investors, and some of the world’s most influential fintech innovators.As a market leader in the Saudi market with a 75% market share, and as considered the fastest growing payment services provider in Egypt. Geidea attended the summit to discuss the latest fintech solutions and to encourage investment and support for entrepreneurs and emerging companies in Egypt.Geidea’s presence in Egypt has gathered pace since it entered the market in 2021. In a little over a year, the company has served a growing network of more than 40,000 merchants.Ahmed Nader, Country General Manager at Geidea Egypt, said: “Our attendance at Techne Summit 2022 aligns not only with our mission to unleash the potential of the digital economy in Egypt but also with the Government of Egypt’s ICT 2030 strategy to transform the nation into a digital society. As one of the MENA region’s largest and most recognizable fintech innovators, Geidea is working closely with players across the Egyptian economy to widen access to enabling technologies and unleash success for entrepreneurs in every industry sector.”As part of its work at Techne Summit 2022, Geidea presented its full range of payment solutions and products to entrepreneurs and emerging companies, as well as discussed, the latest solutions and technologies in the world of financial technology.Ahmed Magdy, Commercial Director at Geidea Egypt, said: “We fully endorse the strategies of the Egyptian state in its bid for digital transformation and look forward to partnering with all government, private institutions & banks in the pursuit of an inclusive digital economy and greater financial inclusion. Geidea’s payment solutions and technologies are perfectly placed to enable Egyptian customers to conduct any financial transaction in just seconds and help merchants across the country to conduct more business in less time.”Magdy continued: “We aim to reach a community of the 3.4 million micro-enterprises, in addition to thousands of medium-sized enterprises. Our goal is to help them grow their businesses, achieve their aspirations and integrate them into the digital transformation process.”Magdy also welcomed cooperation with the Egyptian government in the digital transformation process and stressed that the environment for investments in Egypt is very encouraging, adding that the steps the Egyptian government has been taking make the electronic payments market ‘a very promising one’. He described the fintech technology market in Egypt as ‘very attractive for investments and one that is open to all companies.’

 The UAE has risen as a global hub for forecasting the future of the media industry worldwide, after putting in decades-worth of efforts to host and actively contribute to the success of international events and forums in the sector, and be home to the head offices of some of the world’s largest and most prestigious media institutions.Global Media CongressAs it prepares to host the inaugural edition of the Global Media Congress (GMC), which will begin on Tuesday, the UAE is continuing to add success stories to its track record and expanding its pivotal role in reshaping the contemporary media landscape and nipping future challenges in the bud, through launching a series of annual global events and platforms for boosting knowledge and experience exchange and international cooperation.Held under the patronage of H.H. Sheikh Mansour bin Zayed Al Nahyan, Deputy Prime Minister and Minister of the Presidential Court, the GMC, a first-of-its-kind event in the region, will see industry decision-makers, thought leaders, experts, and specialists come together from around the world to shape the sector’s future.Serving as a global ‘brainstorming space’, the Congress will feature over 1,200 professionals, specialists and influencers representing 6 continents, across more than 30 panel discussions and a series of workshops, offering insights from over 162 prominent international speakers, as well as showcases presented by over 170 prominent media outlets and companies representing 29 countries.The Global Media Congress, which is organised by ADNEC Group in partnership with the Emirates News Agency (WAM), comprises a conference and exhibition, providing opportunities for various media institutions to discuss partnerships and cooperation in promoting for developing the media landscape to better serve humanity and drive prosperity worldwide through offering rich, highly credible and entertaining content.Holding the event in the capital, Abu Dhabi, confirms that the UAE’s status as a global mastermind of ambitious initiatives and sustainable solutions to the challenges facing the global media industry, and optimising its capabilities in producing and disseminating top-notch news and media content.Over the past years, international events such as the Arab Media Forum in Dubai, the Abu Dhabi Media Summit, and the International Government Communication Forum (IGCF) in Sharjah have contributed to highlighting the influential role that the UAE plays in crystalising the future of media in all its forms, as well as the success of the country's media zones in luring in the most important and prestigious media institutions in the world, enabling them to operate and innovate at the highest levels.Arab Media ForumLast month, the Arab Media Forum, hosted annually by Dubai, celebrated the 20th anniversary of its inception, during which it emerged as a valuable and effective dialogue platform focused on analysing the situation of media on the Arab arena and its connection to the surrounding transformations at the regional and international levels. It also contributed to advancing the development of Arabic media, starting from the UAE.The report “A Look at Arab Media” was one of the most important contributions that the Forum served in advancing the media development process in the region, due to the large number of facts and figures it contained, which constituted an important and comprehensive professional reference for all parties concerned with media in the Arab region.The Forum Awards, with its three themes, “Arab Journalism Award”, “TV Award” and “Digital Media Award”, each of which includes independent categories with a total of 13 categories, in addition to the “Media Personality of the Year” award, played a prominent role in stimulating excellence and creativity.IGCFThe International Government Communication Forum (IGCF), one of the initiatives organised annually by the Sharjah Government Media Office, is the region’s largest gathering concerned with discussing global best practices in government communication.The forum is keen to develop a reliable platform for dialogue on the best methods used in global government communication, in order to improve government performance and methods of communication between governments and the public.Since its first session in 2012, the Forum has succeeded in building a new intellectual system for the benefit of government institutions and workers in the communication sector, not only in the UAE and the Arab region, but also at the global arena.Abu Dhabi Media SummitThe Abu Dhabi Media Summit, whose first edition was held in March 2010, was an unprecedented gathering of eminent personalities and pioneering companies leading the transition to a new, fully connected world.The event featured a unique blend of plenary sessions and private discussions, in the presence of major global leaders in the media sector alongside their peers in emerging markets.The summit focused on the most prominent trends in the regional and global media industry, and how to take advantage of the opportunities that have emerged in the digital age, among other topics, in the presence of many international pioneers of media, digital content and innovation.Media Cities and ZonesMedia cities in the UAE have succeeded in attracting local, regional and international media project owners, encouraging them to establish headquarters in the country, and to contribute to providing technical innovations and experiences in various forms of visual, audio, print and digital content.The country includes several free media zones that provide invigorating advantages for investors in the field of media, including full ownership, a tax-free environment, ease of registration and high-level establishment services.

 ToYou, Kingdom of Saudi Arabia’s largest mobility-as-a-service provider on a single-click platform has entered into a partnership with M2P Fintech, Asia’s largest API infrastructure company. The partnership, which was established through the signing of a memorandum of understanding during the Seamless KSA event, aims to provide end-to-end payment solutions to customers and businesses in the Kingdom of Saudi Arabia. ToYou’s platform will be powered by the infrastructure and technology layer of M2P Fintech, enabling smooth payments for its users and providing a seamless checkout experience for the App's products and services.ToYou is a SuperApp that aggregates multiple services and adds a new dimension to logistics in Saudi Arabia. Through a single app, ToYou enables consumers to find, purchase, and have anything delivered, from groceries and restaurant deliveries to passenger transportation and courier services. ToYou's rapid expansion mirrors Saudi Arabia's growing appetite for digital services, including new payment methods.In a country where 98% of the population has internet access, digital payments in the Kingdom of Saudi Arabia are on the rise, with digital transactions expected to reach $42.3 billion this year and $78.4 billion by 2027. Regarding e-commerce, the numbers are similarly convincing. The Saudi domestic online market is anticipated to double to $2 billion by 2025.Speaking on the partnership Ms. Vaanathi Mohanakrishnan, Business Head of M2P Fintech, MENA said, “We are seeing a renewed focus on how businesses are leveraging technology to enable differentiated customer experiences that make the process of transacting on such platforms a lot more convenient. In line with the Kingdom’s Vision 2030 of increased inclusion and digital payment infrastructure leading to a cashless society, M2P is very pleased to be partnering with ToYou for extending digital payment options for ToYou’s customers. “In this regard, Eng. Ziyad bin Ali Al-Ajlan, CCO, ToYou, said: "Driven by our determination to provide the best logistics services in the Kingdom for delivering orders, the "ToYou" App was able to expand and reach more than 56 cities in record time." The next step is to expand regionally across several countries. Whereas logistics services are a critical factor for economic growth and competitiveness, we, in turn, are committed to the quality and global standards of the services, which are worthy of the Saudi Vision 2030 and its trend to advance in this field and become a global logistics platform. The "ToYou" App is considered one of the leading applications in delivering orders for restaurants, pharmacies, gift stores, clothing stores, and various other services because it is an integrated logistics platform that created a link between the user, the stores, and the representative. We are happy to partner with M2P Fintech that bring their knowledge, tech prowess and experience of seamless digital payments from around the world to the Kingdom of Saudi Arabia to benefit its people."M2P enables every company to become a fintech by integrating fintech into core business offerings and serves as a trustworthy technology layer between banks, fintechs, and financial institutions. M2P is present in over 20 markets throughout MENA, APAC, and Oceania. Through their core lending suite, M2P offer a $9 billion active loan portfolio and work with over 100 banks, 100 financial institutions and over 600 fintechs to serve over 35 million end customers. Companies can also quickly deploy future-ready, customer-relevant banking services using M2P's comprehensive core banking system to ensure quick go-to-market speed while maintaining the brand's core values.

Abu Dhabi growing influence as a major international sports destination will be on full display this month as Lionel Messi and his star-studded Argentina become the latest stars to strut their stuff in the UAE capital.Tickets for the November 16 friendly at Mohamed bin Zayed Stadium between the UAE and two-time World Cup winners Argentina sold out in less than 24 hours, yet fans still have the chance to catch the South American stars – who are undefeated in 35 consecutive games – up close courtesy of a ticketed training session at Al Nahyan Stadium on 14th November.Messi has intimated that the upcoming FIFA World Cup Qatar 2022 will be his last, and it is telling that his final warm-up match before chasing the ultimate prize in world football one last time will take place in the UAE capital.“We know how important a World Cup is to many countries, especially a country like Argentina, so we are honoured that Argentina has entrusted Abu Dhabi to host the final preparations,” Aref Al Awani, General Secretary of Abu Dhabi Sports Council, said, while highlighting their recently entered strategic partnership with the Argentina Football Association (AFA).“It demonstrates the growing global confidence in our city to provide the best environment for world-class sport to flourish, and it is our pleasure to welcome one of the most popular teams in world football.”“Whether it is a FIFA Club World Cup, a UFC fight night, or innumerable other international events, Abu Dhabi has proven its capabilities to host major sporting occasions and each time we do, our trust among international stakeholders becomes stronger. To have an international team of Argentina’s standing come to Abu Dhabi for the first time is a cause for celebration and further evidence of the emirate’s stature in the global sports industry," he added.Abu Dhabi recently raised the bar with October’s historic debut of the NBA at the Etihad Arena, which saw the Milwaukee Bucks and Atlanta Hawks play out a thrilling double-header. That was followed by a blockbuster UFC 280: Oliveira vs Makachev on Yas Island, one of the strongest UFC cards of the year.The emirate made another sporting history with the WBA Light Heavyweight Championship fight between Dmitry Bivol and Gilberto “Zurdo” Ramirez on 5th November hosting the first ever boxing world title match contested in Abu Dhabi. The UAE-Argentina match then falls just days before the 14th Formula One Etihad Airways Abu Dhabi Grand Prix weekend at Yas Marina Circuit.The diverse calendar of international events combined with world-class infrastructure and facilities, have ultimately made the UAE capital a huge attraction. The inaugural Bike Abu Dhabi Festival is generating a vast amount of interest in the region, along with the 14th edition of the Abu Dhabi World Professional Jiu-Jitsu Championship, the World Triathlon Championship Finals and T10 – cricket’s fastest and most exciting format.Meanwhile, the popular FIBA 3x3 World Tour Final will be a two-day event, while eSports takes centre stage on Yas Island between December 14th and 18 th, with the BLAST Premier World Final taking place in the capital for the first time, offering a bumper US$1 million prize.Spartan World Championships, Mubadala World Tennis Championship and ADNOC Abu Dhabi Marathon all return before the end of the year.

 The Dubai Chamber of Commerce Sustainability Network’s Task Force on Managing Carbon Footprints recently organised an event offering valuable insights and guidance on how businesses can reduce carbon emissions and transition to becoming net zero.The event, titled Sustainability Management Simulation – Net Zero, examined different activities, tools and methods that can be adopted to reduce carbon emissions in line with the UAE Net Zero by 2050 Strategic Initiative, a national drive to bring carbon emissions to zero by 2050.Participants learned about key aspects that should be considered as part of any net zero plan, such as industry, location, timeline, financial budget, stakeholders engagement, training and development for employees, sustainability team, carbon budget and sources of emissions, as well as tracking and evaluation.During the event, Dr. Tim Rogmans, Associate Professor, College of Business, Zayed University, facilitated the session and guided companies through a simulation and analysed participating companies’ data and results. The majority of the companies that took part in the simulation were projected to achieve 50 percent reductions in carbon emissions with their planning.Dr. Tim Rogmans said the simulation aimed to help companies better understand the challenges and benefits associated with reducing greenhouse gas emissions. He noted that carbon reduction strategies can help reduce costs and increase revenues, adding that companies utilising the right tools and methods can maximise the positive impact of net zero plans.Launched in 2010, Dubai Chamber of Commerce Sustainability Network is an essential platform for the business community to exchange information and experiences on matters related to corporate social responsibility and sustainability.The Network is a platform for member companies to identify and share expertise on CSR and Sustainability challenges and develop practical solutions, while it also provides the opportunity for members to engage with key stakeholders including government bodies.

 “By providing the industry with this international platform, the Global Media Congress is helping foster positive synergies that we want to replicate in Mauritius,” according to a top media official in the Indian Ocean island nation.The first edition of the Global Media Congress (GMC) is set to take place in Abu Dhabi from 15th to 17th November, 2022.Organised by ADNEC Group in partnership with the Emirates News Agency (WAM), the GMC is an opportunity for a great leap forward in the region’s and the globe’s media sector."The UAE example shows how collaboration between and integration of media industry players result in positive outcomes. The Dubai media city has demonstrated this. In fact existing media cities are not competitors but rather opportunities, because the tenants of these media cities will also want to settle in new markets. These companies are currently looking to establish themselves on the continent, and benefit from the new opportunities it has to offer,” Najib Gouiaa, MediaCity Mauritius CEO, said in an interview with local media. "Our goal is to bring together African and international companies from across the sector. And we want to be recognised as the leading global media city in Africa, serving as a creative hub, along with the likes of Dubai, Seoul, Salford and others.”"We are greatly encouraged by what the UAE has been able to achieve in the global media space thanks to Dubai media city and incredibly valuable initiatives such as the GMC. It’s a model we want to replicate by making MediaCity Mauritius Africa’s leading media hub for content creation, digital production, global interaction, and local collaboration.”According to him, culture and creativity are important economic drivers that create jobs, foster economic growth, and have a positive impact on urban development. The future media city will enable Mauritius to position itself in a market that has enormous economic potential by developing a platform capable of hosting the African headquarters or subsidiaries of international media groups and communications agencies, as well as audio-visual, video game and eSport companies.Najib Gouiaa noted, “The business model is tried and tested, not least in the UAE. By providing creative industry players with an opportunity to establish themselves in MediaCity Mauritius and expand their activities from there, the country will acquire a new source of revenue and growth, which is particularly significant given the current economic context." Following is the full interview:MediaCity Mauritius: An international gateway to Africa for the creative and media industriesAn interview with the MediaCity Mauritius CEO, Najib GouiaaAt the media and creative industries come together in Abu Dhabi for the Global Media Congress stakeholders argue that the sector is a major driver of economic growth worldwide. The industry is changing for the better: the COVID-19 pandemic, which has led to a surge in subscriptions to streaming services, and the increasing importance of technology are all having profound effects on how consumers and producers interact with all forms of media. As such, the creative sector has not been affected by the downturn caused by the global health crisis, and it has, on the contrary, continued to grow despite lockdown constraints. The coming years look highly promising for this sector. The African digital content market is no exception to this upward trend, having expanded dramatically over the last few years – a trend that is set to continue. Now more than ever, many well-known companies in Europe and Asia’s media cities are looking to develop a presence in Africa to tap into the potential of this emerging market. The MediaCity Mauritius project is taking that opportune moment to realise a unique, multifunctional creative and business concept, intended as a world-class centre for international production enterprises, creative agencies, video game companies and global media.MediaCity Mauritius is attending the GMC, and we spoke to its CEO, Najib Gouiaa, who told us: “Our ambition is very much in line with the increasing globalisation of the creative and media industries. We know that major players in these industries are constantly expanding their global footprint to be present in new markets. By establishing a media city dedicated to Africa, thereby joining the existing network of media hubs around the world, MediaCity Mauritius will be the gateway connecting the global media industry to the African market. Such an endeavour represents a huge opportunity for the continent to realise its long-awaited creative and commercial potential.”An international multi-media hub for Africa offering prime broadcast and production facilities to global playersMediaCity Mauritius will house a combination of media, technology, African and international media networks, production companies, creative agencies, learning infrastructure, drawing in key industry players, and enabling regional companies to grow into successful world-class corporations, all within a high-tech, sustainable infrastructure. It will also provide a wide range of key services to meet their needs, which include connectivity, storage, uplink, among others.Najib Gouiaa told us more about the objective behind the project: “We’re developing a world-class African hub for the media and creative industries in Mauritius. We want to attract major audio-visual corporations, the global media, and international creative entrepreneurs and connect them to the emerging market in the region.Our goal is to bring together African and international companies from across the sector. And we want to be recognised as the leading global media city in Africa, serving as a creative hub, along with the likes of Dubai, Seoul, Salford and others.” Mauritius is different from many African countries in that it has various assets which foster a conducive environment for creative and media industry playersThe target market of the project includes all the major segments of screen production, gaming, publishing as well as music and radio. In recent years, with changing customer profiles and needs, screen production around the world has increased considerably. It has even become a significant economic driver in many countries. COVID lockdowns have also boosted user engagement with video games, e-sports and live-streaming. MediaCity Mauritius wants to address the widespread growth in these markets, particularly in Africa.In Africa, the creative and media industries are booming, but the continent does not yet have a Media City capable of hosting international industry players in the same way that Dubai represents a hub for the Middle East, Seoul for Asia, and London and Brussels for Europe.According to Najib Gouiaa, Mauritius has the potential to be the epicentre of Africa’s media and creative industries.“I’m convinced that Mauritius is the perfect place to bring together international companies looking to establish themselves in Africa. The island provides the secure and connected environment these companies need to really prosper in this market. The country has super-fast broadband connectivity, and a well-educated and bilingual workforce (French and English). Above all, it’s a cultural melting pot of African, Asian, and European influences – such global openness is a critical factor in the development of a knowledge, information, and entertainment-based economy.”A campus at the heart of the media city, to provide a pipeline of business-ready talentMedia cities need a range of diverse creative professionals, from audio-visual technicians, graphic designers, and digital technology workers to production and management-related professionals. The ability to source qualified local personnel is essential. In this vein, a Media Campus will be set up in the centre of MediaCity Mauritius. Its purpose will consist in hosting renowned schools and universities delivering specialised higher education in the creative and media fields to develop a local pool of qualified talent. Najib Gouiaa described the media campus as “The strategic centrepiece of our development plan because the availability of local and qualified human resources will be critical. So, the academic offer is tied to the technological offer in our project. This is a key issue for any industry, but especially when it comes to the production of digital content. The companies which will be housed in MediaCity Mauritius will rely heavily on the availability of a skilled workforce. So, we believe we can both help the media industry meet its recruitment needs and support talented young professionals in the pursuit of their professional goals by placing a media campus directly alongside the industry.” Our partnership with Broadcasting Center Europe will bring industry-leading standards and provide high quality media servicesBroadcasting Center Europe and Media City Mauritius recently announced an agreement for the development of a new broadcasting centre dedicated to Africa (BCA). This new broadcasting centre will be built to meet the growing needs of the media industry in Africa. It will provide its occupants with the most up-to-date technological facilities in terms of broadcast equipment, hardware, and software.Najib Gouiaa added: “Our partnership with Broadcasting Center Europe, which is a European leader in media services, speaks volumes about the quality and reliability of our technological offer. It will bring industry-leading standards and provide high quality media services. Thanks to BCE’s expertise, our broadcasting centre will provide its occupants with the most up-to-date technological facilities in terms of broadcast equipment, hardware, and software.”We have identified a gap due to the huge demand in Africa and we want to be the main regional centre realising this creative and commercial potential.Many countries of the continent are plagued by poor internet connectivity, a lack of professional skills, cumbersome bureaucracies, and national censorship. By developing a Media City, Mauritius will position itself as the prime location for international companies who are having difficulty penetrating African markets due to a lack of infrastructure.Najib Gouiaa observed: “We have identified a gap due to the huge demand in Africa and we want to be the main regional centre realising this creative and commercial potential. Our localised operations maximise the assets Mauritius has to offer. This means we are able to position ourselves as a bridge between Africa and the rest of the world, while also stimulating talent and the economy at both domestic and regional levels.” The importance of the GMC for dialogue and sharing industry best practiceThe promoters of the project have established a needs-focused strategy based on mutually-beneficial collaborations with major urban, technological, and academic players. But how do they plan to attract the industry's most prestigious anchor clients?Najib Gouiaa answered: “By providing the industry with this international platform, the GMC is helping foster positive synergies that we want to replicate in Mauritius. The UAE example shows how collaboration between and integration of media industry players result in positive outcomes. The Dubai media city has demonstrated this. In fact existing media cities are not competitors but rather opportunities, because the tenants of these media cities will also want to settle in new markets. These companies are currently looking to establish themselves on the continent, and benefit from the new opportunities it has to offer.”MediaCity Mauritius will be an incentive in this respect, providing the gateway for the continent to generate its own content and tell its own stories.Culture and creativity are important economic drivers that create jobs, foster economic growth, and have a positive impact on urban development. The future media city will enable Mauritius to position itself in a market that has enormous economic potential by developing a platform capable of hosting the African headquarters or subsidiaries of international media groups and communications agencies, as well as audio-visual, video game and eSport companies.As Najib Gouiaa told us: “The business model is tried and tested, not least in the UAE. By providing creative industry players with an opportunity to establish themselves in MediaCity Mauritius and expand their activities from there, the country will acquire a new source of revenue and growth, which is particularly significant given the current economic context. The country will benefit from job creation in the digital technology sector, allowing young Mauritians to develop and express their talent in these industries. It will also benefit from the influx of knowledge and expertise related to the production and distribution of new audio-visual content for the African and international markets. MediaCity Mauritius will be an incentive in this respect, providing the gateway for Africa to generate its own content and tell its own stories.We are greatly encouraged by what the UAE has been able to achieve in the global media space thanks to Dubai media city and incredibly valuable initiatives such as the GMC. It’s a model we want to replicate by making MediaCity Mauritius Africa’s leading media hub for content creation, digital production, global interaction, and local collaboration.”

ServeU, one of the UAE’s leading facilities management (FM) solutions provider and a subsidiary of Union Properties, has launched two B2B mobile applications for clients with residential and commercial properties. This move comes in line with the company’s digitalisation strategy, which is aimed at enhancing customer interaction and satisfaction, primarily during emergency situations.With the rapid technological advancements and introduction of innovative mobile applications in the industry, the FM sector is also facing a transformational phase. ServeU has launched the first of its kind B2B mobile applications for the FM sector that facilitates seamless interactions with the corporates directly and allows them to log in service requests in a minute. The apps enable rescheduling of planned maintenance as per client’s convenience, which is directly reflected in the ServeU technician app.These apps have been specifically designed and developed on Microsoft’s backend system in Dynamic 365 Field Service to provide visibility of asset history, lifecycle, and planned maintenance, as well as tracking the breakdown of each asset.Gary Reader, General Manager of ServeU, said: “The journey and progress of the facilities management industry in the past few years has been incredible. As the years go by, the boundaries of the FM sector have been expanding, and companies are constantly adapting to new and innovative technological advancements, meeting market expectations and revamping working practices to address future challenges. It has been crucial to adopt mobile and flexible methods to keep up the pace with the rapid technological developments in the industry.”He added, “Our vision in the present digitalised FM ecosystem is to maintain our momentum and methods to address emergencies and problems faced by our clients. We are always exploring various avenues to upgrade and develop our solutions and services. This is the first time a B2B facilities management app has been introduced in the Middle East region and we are aiming at positioning this as a trendsetter. We are proud of achieving another notable milestone in our journey.”Previously, ServeU had developed and released the ‘ServeU Essentials’, a B2C mobile application available on iOS and Android, which enabled customers to make online bookings, process cashless payments, and manage subscriptions virtually.ServeU has been developing and innovating its services to provide customers with effective, efficient, and round-the-clock FM services, allowing the company to match the speed of the ever-evolving FM market.

Since its establishment in 2015, Mubkhar has witnessed dramatic growth in the region led by its innovation, high-quality fragrances, and loyal customer base; and has since expanded its footprint to Saudi Arabia, Bahrain, and Qatar from its home base in Kuwait.Floward believes in the enthusiastic and energetic entrepreneurs that took Mubkhar from nothing to where it is right now in a very short amount of time. The management will continue running Mubkhar on a day-to-day basis.The acquisition fits Floward’s strategy in maintaining and strengthening the vision of being the dominant online quick commerce gifting platform in the MENA region, and in the UK.Floward initially partnered with Mubkhar to sell their luxurious fragrances on its platform years ago and the brand has since become a top seller across the GCC, making this acquisition the natural next step of the two companies' relationship. Floward will be investing in expanding Mubkhar’s product breadth and points of sales and furthering its growth while preserving the uniqueness and exclusivity of its offering.Commenting on the acquisition, Floward Chairman & CEO, Mr. Abdulaziz B. Al Loughani said: “We are thrilled to join forces with Mubkhar, a brand that without a doubt has left its mark in the fragrances and gifts market. This acquisition is proof that we’re forging ahead in the right direction with expanding our gifting categories and having an exceptional team led by Khalid AlMannaa on board is a pivotal step forward in our expansion strategy. With our companies aligned on the same vision to offer our clients the best gifts through great customer services, we are certain that we will be further cementing our leading market position.”Mubkhar’s Founder and CEO Mr. Khalid Nawaf AlMannaa said: “We are proud of what Mubkhar achieved since we launched and being acknowledged and acquired by a brand as big and as successful as Floward is a true testament to the success we’re witnessed over the years. We are happy about taking our relationship with Floward to the next level and excited for Mubkhar’s future as we continue to bring our customers the best fragrances and the great customer experience they’re used to.”Established in 2017, Floward is a full-fledged e-commerce platform that offers prime fresh-cut flowers and gifts across the MENA region, and the UK covering 36 cities and nine countries. Floward sources products from the best suppliers around the world for its flowers and gifts, which include confectionary products as well as perfumes, jewellery, and a range of other categories. Floward also fully manages the last-mile delivery to its customers.Mubkhar is a fragrances company that offers the finest oriental and western fragrances manufactured with high-quality specifications and is considered the only perfumery store in the Middle East that carries natural essential oils that are certified and registered worldwide.

The MENA region witnessed 524 deals worth US$55.2 billion during the first nine months of the year, according to the latest EY MENA M&A Insights report.Rising inflationary pressures, dampening economic demand and global market disruptions resulted in moderate growth in deal activity of 6% year-on-year (YoY) while deal value slipped by 23% over the same period last year.According to the report, domestic deals were the main driver of activity in the region, contributing 51% and 33% of the total M&A deal volume and value respectively over the nine-month period.M&A activity involving private equity (PE) or sovereign wealth funds (SWF) accounted for 35% and 38% of the total deal volume and value respectively across the nine months. The report revealed that cross-border deals made up 49% and 67% of total volume and value respectively over the period. While government-related entity (GRE)-involved deals totaled US$21.0 billion in 9M 2022, accounting for 38% of the total disclosed deal value.Brad Watson, EY MENA Strategy and Transactions Leader, says:“Although we are living in uncertain economic times, the MENA region continues to record higher M&A activity, fueled by expected economic growth through higher oil prices and an acceleration in business-friendly reforms. Technology is driving a large number of deals, reflecting the rising digital transformation across industries in the region.”The top five MENA target countries by deal value were UAE, Egypt, Saudi Arabia, Morocco and OmanThe United Arab Emirates (UAE) remained at the forefront of the MENA region, with 155 deals signed worth US$17.2 billion in the first nine months of 2022. This was followed by Egypt with 99 deals worth US$3.9 billion, the Kingdom of Saudi Arabia with 58 deals worth US$3.4 billion, Morocco with 22 deals worth US$1.9 billion and Oman, where 10 deals have been inked with a total value of US$0.7 billion.Overall top five subsectors in the MENA region, by deal value, include transportation, real estate, consumer products, technology, and banking and capital markets.Anil Menon, Head of MENA M&A and ECM Leader, EY, says:“What is interesting from these latest results is the increasing M&A activity, not just emanating from traditional markets such as the UAE and Saudi Arabia, but also from other countries across the MENA region, namely Egypt, Morocco, Qatar and Oman. Higher crude oil prices, combined with favorable regional government initiatives in attracting investments to the region and MENA investors looking for futuristic investment opportunities in foreign markets will be the major drivers of M&A activity in the region going forward.”Domestic deals in the MENA regionDomestic M&A activity saw a slight dip of 3% in 9M 2022, with 268 deals signed, compared to 275 deals for the corresponding period last year. The value of deals also dropped, by 48%, amounting to US$18 billion, compared to US$34.6 billion in the opening nine months of 2021. Excluding the deal involving the acquisition of utilities and power assets of Aramco by Air Products and Chemicals Inc (US$12.0 billion) in 9M 2021, deal value went down by 20% in 9M 2022.Egypt witnessed a surge of 37% in domestic deal activity in terms of deal volume in 9M 2022. The Egyptian government’s decision to sell several state-owned industries to help its struggling economy has attracted Gulf investors into the region.Over the nine-month period, Ghitha Holding PJSC agreed to acquire Tamween Management LLC for US$2.4 billion; Dubai Creek Harbour was acquired by Emaar Properties in a deal worth US$2.042 billion; Q Holding acquired Reem Investments PJSC for US$1.6 billion; Saudi Arabia’s Public Investment Fund acquired a 16.8% stake in Kingdom Holding Company for US$1.5 billion; and International Holdings Company PJSC; Alpha Dhabi Holding acquired a 17% stake in Aldar Properties PJSC for US$1.452 billion.Inbound deals to the MENA regionAcceleration in business-friendly reforms, rising oil prices and the easing of government travel restrictions resulted in higher inbound deal volume in the MENA region, with 119 deals in 9M 2022 compared with 105 deals in the corresponding period the previous year.The UAE continued to be the favored investment destination in 9M 2022 (62 deals worth US$7.4 billion), supported by the reforms to strengthen its business environment, attract foreign investment, and incentivize companies to set up or expand their operations. The technology sector witnessed the highest deal activity in terms of deal volume and out of 37 technology deals, 23 deals were flowing into the UAE, reflecting the regional government’s appetite for digital transformationUSA-based entities are most active in MENA regionEntities based in the United States of America (USA) led the deal activity in the region, in terms of volume, taking part in around 30% of inbound activity with a particular focus on technology-related investments. Canada, however, took the top spot in value (four deals worth US$5.7 billion), largely driven by the US$5 billion deal signed in June by Caisse de Depot et Placement du Quebec to acquire a 22% stake in Jebel Ali Free Zone, a 22% stake in National Industries Park, and a 22% stake in Jebel Ali Port.The top five subsectors by deal value were: other transportation (US$5 billion), power and utilities (US$1.7 billion), technology (US$1.5 billion), chemicals (US$0.6 billion), and consumer products (US$0.4 billion).Outbound deals from the MENA regionIn the opening nine months of 2022, the region saw 137 outbound deals, which amounted to US$27.2 billion in comparison with 113 deals totaling US$11.9 billion in 9M 2021. The UAE continues to witness the highest number of outbound deals, led by technology, professional firms and services, and real estate, which contributed to 43% of the total outbound deal volume.The UAE saw the largest outbound deal, signed in May, as Emirates Telecommunications Group Company acquired a 9.8% stake in the UK’s Vodafone Group Plc in a deal worth US$4.398 billion.The top five outbound target subsectors by deal value were: telecommunications (US$4.4 billion), power and utilities (US$4.4 billion), media and entertainment (US$3.5 billion), chemicals (US$3.2 billion), and airlines (US$2.2 billion).The report by EY summarizes and tracks announced M&A activity in the MENA market (with MENA being defined and limited to Algeria, Bahrain, Egypt, Iraq, Jordan, Kuwait, Lebanon, Libya, Morocco, Oman, Palestinian territories, Qatar, Saudi Arabia, Sudan, Syria, Tunisia, the UAE and Yemen). Transactions less than US$5 million and a 5% stake are not considered in the analysis.

New additions to the board of directors of the top 40 UAE listed companies have shown a preference for first-time public board directors, according to Board Monitor United Arab Emirates 2022 by Heidrick & Struggles, the premier provider of leadership consulting, culture shaping and senior-level executive search services.Board Monitor United Arab Emirates 2022 report by Heidrick & Struggles marks the second time the firm has shared an analysis of trends of non-executive director appointments in the United Arab Emirates. The report accounted for 54 new directors in the various boards of the most prominent companies listed on Dubai Financial Market and the Abu Dhabi Securities Exchange in 2021, up from 52 the previous year.First-time public board directors preferred for new perspectivesAmong the new directors, 61% of these seats were filled by first-time public board directors rather than those with experience, with a significant increase from 38% the prior year. A number much higher than those seen in Europe (43%) and in the US (43%).The first-time directors less often have CEO backgrounds (44% compared to 75% among experienced directors) and more often bring a wider set of C-suite experience. 13% had COO experience compared to 0% among experienced directors; and 19% other C-level beyond CEO, CFO and COO; compared to 10% across experienced directors.6% of first-time public board directors have a sustainability experience with no experienced directors having this background. “Internationally, a new corporate license to operate and a new conception of the corporation are developing. We see more boards looking for independent directors or individuals with international experience to help with this fresh direction. Another core business pillar is ESG which is becoming increasingly instrumental in corporate access to capital. Leaders are facing scrutiny as stakeholders demand more accountability and transparency; and to help organizations navigate this increasingly pertinent issue, we are starting to see boards in UAE add directors with sustainability experience in their portfolio,” said Maliha Jilani, partner in Heidrick & Struggles’ Dubai office and Social Impact Practice lead in the Middle East and North Africa region.Additional findings on gender and age diversityThe share of seats going to women in the UAE saw an uptick in 2021 (17%), though compared to Europe (43%) and US (45%) it remains low. UAE also saw one of the largest shares of seats allocated to directors under 45 of any of the 24 countries Heidrick & Struggles’ tracks. The average age of newly appointed directors in ADX/DFM companies in 2021 was 50, a marked decrease from the previous year’s average of 53.What the future holdsAs UAE companies seek to build sustainable international growth, their boards will need agility to both deal with unexpected events and achieve a certain level of foresight, as well as to continue to integrate fresh perspectives into their leadership that will complement the experience of more seasoned business leaders.However, there is no single prescription for board composition. Each company is in a different stage of maturity, in different industries and locations, and pursuing unique strategies. Each board should ensure its refreshment strategy reflects the organizational purpose and goals for the long term and prioritize efforts to add fresh perspectives where they will make the most difference. Thinking of board succession planning as an ongoing exercise will help UAE companies to be resilient and future-proof.Other key findings in the report include:The percentage of active executives in 2020 vs 2021 is 79% to 96%Share of seats going to directors with CEO experience in 2021 was 56%The industrial industry saw the highest number of board directors with same-industry experience (91%), with technology & telecoms seeing the most board directors with cross-industry experience (75%)

Knight Frank Middle East has expanded its presence in the Middle East with the opening of a new office in Doha, Qatar.The new office in the Qatari capital, Doha will provide tailored consultancy advice and transactional services to investors, developers, owners and users of commercial property across key sectors.With the much-anticipated FIFA World Cup 2022 fast approaching this November, this is an extremely exciting time in Qatar’s history and an exciting time for Knight Frank to enter the Qatari market, with recent huge investment into infrastructure developments in the country and renewed confidence in further strong economic growth for the country over the next decade, due to its government’s spending pledge, as part of Qatar’s 2030 vision.Knight Frank’s operations in Qatar will be led by Adam Stewart, Partner – Head of Qatar, who has over 15 years of real estate experience.Having begun his career in the UK, Adam relocated to Qatar in 2014. With a background in valuation and advisory, Adam boasts an expansive client network including government entities, banks, listed companies, private companies and private investors.Speaking on his appointment, Adam commented: “I am delighted to be joining a real estate business with the global breadth and depth of Knight Frank. Knight Frank’s expansion across the Middle East over the last 13 years shows their commitment to the region and I am thrilled to be part of the team.“I look forward to combining my local market knowledge with the global expertise of the Knight Frank business to provide Qatar with unrivalled real estate advisory and transactional services across both the residential and commercial sectors of the market”.Partner and MEA Managing Director James Lewis said “For 13 years Knight Frank has been helping clients across the Middle East through the provision of real estate advisory and transactional services. Our global mindset and local market experts set us apart and Adam’s appointment is going to broaden the repertoire of our business.“We look forward to working with Adam and rolling out our core services, including Valuation & Advisory, Real Estate Consultancy, specialised Consultancy sectors such as Hospitality, Education and Healthcare, as well as International Prime Residential and Private Office transactional expertise to clients in Qatar”.

 A10 Networks, today announced its participation at Black Hat MEA, the premier Infosec event taking place between 15-17 November at the Riyadh Front Exhibtion Centre, Saudi Arabia. The company will demonstrate its entire portfolio of on-premises and cloud-native security solutions designed to drive digital resiliency and protect enterprise applications and infrastructure against cyber attacks.Speaking about the company’s participation at the event, Rayan Mohtasib, Regional Sales Manager at A10 Networks says, “The world has changed irrevocably, and the pace of digital transformation globally as well as in Saudi Arabia has acclerated beyond expectations. The escalating threat landscape is a cause of great concern for regional organizations. A breach can happen unexpectedly at any point in time, and every second is critical when it comes to protection and remediation. Organisations are now laser-focused on digital resiliency, moving to the cloud and how they can shore up their defences. Companies in the Kingdom must continue to invest in modern technologies that enable automation and protection that strike the balance between defence and agility for an increasingly multifacted infrastructure, ensuring that business-critical applications are protected, reliable, and always available. Looking to the future, the adoption of cybersecurity initiatives will likely become higher, and this includes Zero Trust models.” “With our position and depth of experience in the security domain, we see Black Hat MEA as the perfect platform to educate the market about the need for security automation and also spread awareness about A10 Networks’ AI-driven application and network security solutions.”During the event, executives from A10 Networks will run a series of presentations delivered on the booth daily, with the intention of helping educate CIOs and IT managers about IT security best practices and strategies to combat the latest cyberthreats including DDoS attacks and the propagation of malware and botnets. The company will also showcase the following technologies:Web Security: A10 Networks protects users from modern encrypted threats on the internet by leveraging multi-layered security services, leading to stronger enterprise perimeter security and enhanced productivity. The company’s secure web gateway solution allows you to gain full control and visibility of your traffic, with granular, per-user policies that protect from internet-borne cyber attacks.TLS/SSL Inspection: Ensures that enterprise networks are protected from SSL/TLS encrypted cyber attacks by enabling SSL/TLS decrypted traffic inspection via a company’s enterprise perimeter security infrastructure.DDoS Protection: A10 helps address the growing problem of multi-vector and IoT-based DDoS attacks to avoid business downtime, lost revenue, and damaged reputation. A10 Thunder® Threat Protection System (TPS) is the scalable and automated DDoS protection solution powered by advanced machine learning leading the industry in precision, scalability, and performance.5G Security: A10 Networks is a leader in next-generation security technology for mobile operators worldwide—and the solution provider of choice for carriers undertaking 5G transformation. 5G requires high-performance, software-based security. 5G security is critical for new use cases such as connected cars or tele-mentored surgery, which will drive stringent new security and latency requirements, as disruptions could be catastrophic. A10 Networks’ 5G security suite provides highly flexible advanced security at strategic locations in the mobile network, delivering unprecedented performance and scalability in software – VNFs, container, bare metal – or physical form factors as needed.Zero Trust Model: Employing Zero Trust principles can not only protect networks but also ensure that they are not being used to launch attacks. A10’s security-led solutions for DDoS protection, TLS/SSL inspection of encrypted traffic and application delivery security capabilities can provide identity-based and context-based Zero Trust policies for specific enforced access.Simplifying multi-cloud Operations and Strengthening Security: A10 Networks has just announced the launch of Harmony Controller as-a-service, Release 5.4. It provides centralized management and analytics for A10 secure application services including A10 Thunder ADC, SSLi, CFW, and CGN in multi-cloud environments for application configuration and policy enforcement. It is available on self-managed (on-premises/cloud) and as-a-service.A10 Networks will be exhibiting from Hall 4, Booth A30.

 Sophos, a global leader in innovating and delivering next-generation cybersecurity as a service, today published a new sectoral survey report, “The State of Ransomware in Manufacturing and Production,” which found that the sector had the highest average ransom payment across all sectors—$2,036,189 versus $812,360, respectively. In addition, 66% of manufacturing and production organizations surveyed reported an increase in the complexity of cyber attacks, and 61% reported an increase in the volume of cyber attacks when compared to the previous year’s survey. The increase in complexity and volume is also 7% and 4% higher than the cross-sector average, respectively.“Manufacturing is an attractive sector to target for cybercriminals due to the privileged position it occupies in the supply chain. Outdated infrastructure and lack of visibility into the OT environment provides attackers with an easy way in and a launching pad for attacks inside a breached network. The convergence of IT and OT is increasing the attack surface and exacerbating an already complex threat environment,” said John Shier, senior security advisor, Sophos. “While having reliable backups is an important part of recovery, today's ransomware threat requires a detailed response plan that includes human-led threat hunting capabilities. Complex attacks require comprehensive protection, which, for many organizations, will include the addition of managed detection and response (MDR) teams who are trained to look for and neutralize active attackers.”While manufacturing and production had the highest average ransom payment, the percentage of organizations that actually paid the ransom was among the lowest across sectors (33% versus 46% for the cross-sector average).Additional findings include:The manufacturing and production sector had the lowest attack rate, tied with financial services, with only 55% of organizations surveyed targeted by ransomwareHowever, the percentage of manufacturing and production organizations hit by ransomware increased by 52% over the previous year’s report (up from 36% in the 2021 survey report)The sector also had the lowest encryption rate (57% versus 65% for the cross-sector average)Only 75% of those surveyed reported having cyber insurance—the lowest percentage across all sectorsIn light of the survey findings, Sophos experts recommend the following best practices for all organizations across all sectors:Install and maintain high-quality defenses across all points in the environment. Review security controls regularly and make sure they continue to meet the organization’s needsProactively hunt for threats to identify and stop adversaries before they can execute attacks – if the team lacks the time or skills to do this in-house, outsource to a Managed Detection and Response (MDR) teamHarden the IT environment by searching for and closing key security gaps: unpatched devices, unprotected machines and open RDP ports, for example. Extended Detection and Response (XDR) solutions are ideal for this purposePrepare for the worst, and have an updated plan in place of a worst-case incident scenarioMake backups, and practice restoring them to ensure minimal disruption and recovery time 

Jumeirah Group, the global luxury hospitality company and member of Dubai Holding, today announced the appointment of Peter Roth as the new Regional Vice President for Madinat Jumeirah. Roth’s appointment comes at a time of accelerated growth for the Group, with strategic enhancements ongoing across its Dubai beachfront, to further elevate the luxury brand experience.Roth will take responsibility for the extensive Madinat Jumeirah development, spanning over 40 hectares and home to Jumeirah Dar Al Masyaf, Jumeirah Al Qasr, Jumeirah Mina A’Salam, and Jumeirah Al Naseem, while additionally assuming the role of General Manager of Jumeirah Al Qasr. An industry veteran with over 30 years of luxury hospitality experience working extensively with Hyatt Hotels & Resorts and Four Seasons across Europe and the Americas, Roth has built a breadth of knowledge and expertise in luxury hotels operations.As Jumeirah Group continues the expansion of its portfolio and focuses on its vision of being globally recognised as one of the leading international luxury hotel groups, Roth’s extensive pre-opening and hotel repositioning expertise, that has resulted in several important industry accolades, will ensure an exceptional brand experience across the Dubai beachfront properties. This will include leading an ongoing enhancement programme designed to further elevate the luxury proposition at two of the signature hotels; Jumeirah Mina A’Salam will feature enhanced rooms and suites in a modern and elegant design, while the exclusive Malakiya Villas at Jumeirah Dar Al Masyaf will undergo a full renovation with contemporary finishes and manicured gardens, offering an experience like no other to impress the most discerning guests.Roth will also oversee the Group’s award-winning spa brand Talise Spa and its destination dining concepts at the resort, including KAYTO, Shimmers, French Riviera, Rockfish and Pierchic. Jumeirah recently received international recognition for its signature dining, another key strategic pillar for the Group, with 13 of the restaurants featured in the MICHELIN and Gault&Millau Guides in the UAE, created by Jumeirah Group’s in-house talent. A number of the concepts established at Madinat Jumeirah are also now being expanded to other properties in the global portfolio, including KAYTO and Shimmers that are now delighting guests at the recently opened Jumeirah Maldives Olhahali Island.Thomas B. Meier, Interim Chief Executive Officer and Chief Operating Officer of Jumeirah Group, commented, “The strong recovery of the hospitality sector in Dubai is continuing in 2022, with revenues projected to exceed 2019 pre-pandemic levels by the end of the year. At Jumeirah, we are continuing our accelerated growth trajectory by enhancing and expanding our portfolio and curating a brand experience that’s in keeping with our burgeoning reputation as one of the world’s leading luxury hospitality groups. The need to innovate and differentiate ourselves in a new era of luxury hospitality and in response to evolving consumer needs has never been greater, and we are committed to investing in the best talent to support our vision for the future of the business. Peter Roth brings a wealth of knowledge and experience in luxury hospitality that will be a strong asset for both Madinat Jumeirah and the Group as a whole, as we continue to elevate the guest experience and deliver our promise of Stay Different.”

UAE CEOs are better placed than their global counterparts to respond to an economic crisis, with 68% of local leaders diversifying their business compared to a mere 32% of global CEOs, putting them ahead of their global counterparts by at least six months. This is according to the latest findings of the KPMG 2022 CEO Outlook Survey, which polled 1,325 CEOs from 43 countries, including 25 from the UAE.UAE CEOs remain optimistic about their business prospects, with 60% of them expecting earnings to increase 2.5 to 4.5% annually over the next three years, which is more than twice the number of CEOs worldwide.ESG also emerged a key priority, with more than two-thirds of global and UAE CEOs expressing significant demand from stakeholders to increase reporting and transparency in the future. This follows the UAE’s heavy investments in the green economy for the last 10 years and its announcement to commit to net-zero emissions by 2050, the first Gulf country to do so. In 2023, the UAE will also host COP28, the 28th United Nations Climate Change Conference.Nader Haffar, Chairman and CEO of KPMG Lower Gulf, said: “The UAE has one of the most diversified economies in the region, which has enabled it to withstand a number of challenges, right from the global pandemic to geopolitical uncertainly and macro-economic challenges. The government’s comprehensive diversification program for a knowledge-driven economy backed by technology and sustainable development has pivoted the nation forward. This year’s edition of the CEO Outlook survey shows that the UAE is set for unprecedented growth, powered by a hybrid workforce and enhanced digital capabilities as a result of improved IT infrastructure, a focus on cybersecurity and diversified supply chains.”This sentiment comes as a vast majority of CEOs worldwide are expecting a recession in the next 12 months, with 86% saying they agree an economic downturn is coming. In the UAE, the situation is quite different, with only 24% of CEOs expecting a recession. However, local CEOs were less confident about growth prospects for the global economy, with only 56% expressing confidence in global growth over the next three years, compared to 71% of CEOs worldwide.Robust national policies, including Vision 2021 and Vision 2030, which set out to transform the country into a competitive knowledge-driven economy, have put the country on an accelerated path to growth. The UAE posted its strongest growth in more than a decade, driven by a sharp increase in oil production and a noticeable improvement in non-oil GDP. According to the UAE Central Bank and the International Monetary Fund, the UAE economy grew by 8.2% in the first quarter of 2022, with total annual growth projected to exceed 5% and inflation expected to remain well below the global average.The survey also revealed that a vast majority (96%) of UAE CEOs reported having an aggressive digital strategy in place, which was much higher than the global figure of 72%. Furthermore, given the rising threat of cyber-attacks, 92% of UAE respondents said their organizations were well-prepared for a cyberattack, compared to 56% of global CEOs.

Miral, Abu Dhabi's leading creator of immersive destinations and experiences, in partnership with Warner Bros. Discovery, announced today a Harry Potter themed land will be coming to Yas Island, Abu Dhabi, within the world's largest indoor theme park, Warner Bros. World Abu Dhabi.The creative vision for this newly designed Harry Potter themed land from Miral and Warner Bros. Global Themed Entertainment will invite fans to step inside iconic locations from the wizarding world, seen in an all-new way.Mohamed Khalifa Al Mubarak, Chairman of Miral expressed his excitement about this project saying: "We are very proud of our continuous partnership with Warner Bros. Discovery and excited to be bringing this spell binding first to the Middle East and the world in the future. This is yet another testament to our commitment to continue to position Yas Island as a top global destination for entertainment and leisure, and a great addition to Abu Dhabi's tourism offerings, contributing to the growth and economic diversification of the Emirate."Pam Lifford, President, Global Brands and Experiences from Warner Bros. Discovery, said: "The Wizarding World offers something for fans of every age to enjoy. The original Harry Potter stories and the blockbuster film series continue to captivate and inspire hundreds of millions of fans around the world, and our Global Themed Entertainment team together with our world-class partner Miral, will expand our successful Warner Bros. World Abu Dhabi to bring this magical experience to life. Together with our lands at Universal Parks, this will add a wholly new and spectacular destination for fans to immerse themselves in."Harry Potter is truly a global phenomenon, spanning eight films based on the best-selling book series - which has sold over 600 million copies worldwide, been distributed in more than 200 territories and translated into over 80 languages. Today, these iconic stories and the resulting experiences are beloved by a passionate community of millions of fans from all over the globe.The addition of a Harry Potter themed land at Warner Bros. World Abu Dhabi (groundbreaking date yet to be revealed) expands upon a successful line-up of themed lands and experiences, including Bedrock, Dynamite Gulch, Cartoon Junction, Gotham City and Metropolis, that have brought fun and unforgettable memories to Warner Bros. fans and further supports Miral's vision to position the park as a top global destination and a great addition to the island's unique portfolio of attractions and experiences, while contributing to Abu Dhabi's tourism ecosystem and growth.The Harry Potter themed land will be significant in scale and join the existing six Immersive Lands in the award-winning theme park, bringing Harry Potter to fans like never before.

Investcorp, a leading global alternative investment firm, today announced that it has led an investment of INR 545 Cores in Global Dental Services Limited (GDS), Asia’s largest dental chain and among the top 15 global Dental Services Organizations. Tybourne Capital, an Asia-based global growth investor and other new and existing shareholders are also investing alongside Investcorp in this INR 545 Crores financing in GDS. This marks Investcorp’s fourth healthcare investment in India and its first in the dental industry in the country.Founded in 2011 by its current CEO, Amarinder (Amar) Singh, the GDS group owns and operates 340 clinics across 24 cities and 12 states in India under the brand “Clove Dental”. Supported by 841 dentists (521 of whom hold advanced, MDS degrees) each Clove clinic provides full range of dental treatments in each of its locations. Organized in clusters of 15 to 30 clinics, each cluster has dedicated Implantologists, Orthodontists, Prosthodontists, Endodontists, Periodontists, Oral Surgeons, Pedodontists, and General Dentists, to ensure that each patient is always treated by the most qualified dentist. Computer Vision and AI-based software technologies ensure that every clinic is 100% hygienic and sterilized and all SOPs are adhered to at all times. Periodic quality audits by independent team of dentists ensure that there is never a compromise on treatment and infrastructure quality. Proprietary cloud-based Practice Management Software captures entire dental journey for each patient to ensure long-term effective care and health.Clove Dental also operates mobile dental clinics to provide dental care to the under-served communities. Clove “Heritage” (charitable) clinics, including the one inside Delhi’s Red Cross Hospital, offers highly subsidized treatments to the communities who need such care the most. Clove dentists lead over 500 dental awareness camps in local communities, each month, as part of its goal to provide the perfect and healthy smile for all 1.2 BN Indians.Recently, GDS Group has also launched a Direct to Consumer (D2C) brand called LoveMySmile (LMS), focused on smile correction products and solutions which include Aligners, Braces, and Teeth whitening solutions. LMS offers a Dentist-led unique solution for smile correction through a combination of D2C and in-clinic procedures that provides both convenience and high-quality outcomes to its customers.This investment will fund GDS’s expansion strategy which aims to increase its commercial presence while continuing to offer high-quality dental services in existing and adjacent markets as well as grow its hybrid model and products for smile correction. The investment illustrates Investcorp’s commitment to invest in market-leading business services, information technology and healthcare businesses in India and accelerate their expansion and competitive positioning globally.Gaurav Sharma, Head of Private Equity, India at Investcorp, said, “Today, the Indian dental services market is worth $3 billion. It is highly fragmented with large hospitals and dental chains accounting for under 10% of all practices, although this number is expected to double in the next five years. Investing in a single specialty segment, within healthcare, aligns well with our thesis of backing scaled and differentiated assets. In India, Clove Dental represents our fourth healthcare deal in the underpenetrated field of dental care that offers an attractive opportunity. With better hygiene and growing awareness about healthcare, patients are increasingly relying on organized chains for professional medical services. We look forward to this partnership and supporting the company in scaling its operations in India.”Investcorp has earlier concluded three healthcare deals in India: V-Ensure Pharma Technologies, Neprhoplus (a dialysis chain), and ASG Eye Hospitals, where Investcorp recently sold its entire stake to General Atlantic and Kedaara. Globally, Investcorp has invested in Acura, Germany’s second largest dental platform.Amar Singh, CEO of Global Dental Services Limited said, “Indians need oral healthcare infrastructure and our mission is to provide every citizen access to high-quality affordable dental care. Clove Dental’s 340 clinics across the country offer the most comprehensive range of Dental Care from restorative treatments like fillings and root canal to complex oral and maxillofacial surgery to the latest orthodontic and clear aligner treatment modules at affordable prices. The team of Dentists at Clove are highly qualified, and we offer continuous professional development and training on latest technological advancements in global dentistry. We are delighted to partner with Investcorp and Tybourne. This partnership will empower us to prepare to achieve our expansion goals, add latest technological equipment in our clinics, bring professional, ethical, and high-quality dentistry to many more Indian communities. The experienced teams and network of our new partners will enable us to significantly accelerate our growth. I am looking forward to our partnership with Investcorp.”In India, Investcorp is an active investor in mid-market companies across consumption-linked sectors and in the real estate business. In the private equity space, Investcorp targets opportunities across the consumer tech, healthcare, financial services, retail, SaaS, e-commerce, and technology sectors. Its investments over the last four years include V-Ensure, NDR Warehousing, Intergrow Brands, Bewakoof.com, Freshtohome, Zolo, InCred, Citykart, NephroPlus, Unilog, XpressBees, and Safari Industries.

beIN MEDIA GROUP (beIN) will launch its revamped beIN SPORTS NEWS channel at midday today, (11/11), exactly 11 years after its first-ever broadcast. The Middle East and North Africa’s (MENA) leading channel for sports news will be broadcast from its brand-new, state-of-the-art studio, located in the heart of Doha.The Arabic language channel boasts a new look and feel, along with a slogan reflective of its approach to news coverage - "First Source for the Latest News.” It also features exclusive programming, over 40 global correspondents, and a world class line-up of presenters.  This refresh will be carried through digital channels, streamlined for easy navigation for its millions of followers. The channel will deliver hourly live news bulletins, along with ongoing analysis and feature content in crisp HD. As part of its aim to expand access for underrepresented groups, its 20:00 MECCA evening bulletin will also be delivered in sign language.As the Official Broadcaster of the FIFA World Cup Qatar 2022TM across MENA, content for beIN SPORTS NEWS will initially focus on tournament-related news and features. Post December 18th, content will broaden to encompass the entire sporting world. So, viewers can still expect the same round-the-clock news bulletins, searing analysis and original, engaging content.Commenting on the revitalised Channel, Mohammed Al-Bader, Managing Director of beIN Channels – MENA, said: “The relaunch of beIN SPORTS NEWS marks an exciting new chapter for us at beIN. We are relentless in our efforts to provide our audiences with an unmatched viewing experience, particularly as we approach the kick-off of the greatest show on earth. However, our ambitions extend far beyond FIFA World Cup Qatar 2022TM, and we continue to evolve and diversify our content. The relaunch of this 24-hour news channel will see us unanimously viewed as the primary news source for the latest in sport.”In a first look before the official launch, media toured the premises and met with CEO of beIN MENA, Mohammad Al-Subaie, who welcomed them to the brand-new state-of-the-art studio, as well as Director of News, Mohammed Ammor and Manager of News Output, Ali Al-Mosllamani, who outlined the vision and mission of the refreshed channel and provided a detailed overview of what to expect. First Source for the Latest NewsThe channel’s new slogan speaks to its focus on delivering the news as it happens – with immediate coverage of breaking stories in the world of sports. Meanwhile, a roster of reporters providing on the ground coverage, will use “First in, Last out” – for tournaments and large-scale events, a slogan indicative of a commitment to cover all the news- and reactions.The refreshed channel will provide viewers with hourly news bulletins, in addition to live and pre-recorded content. In the run up to and during the FIFA World Cup Qatar 2022TM (November 11th – December 18th), programming will broadly include the following:Dedicated FIFA World Cup Qatar 2022TM news bulletins covering all tournament-related breaking news.Ongoing live coverage related to the tournament, including team training sessions, footage from fan zones, coverage directly from teams’ hotels, and much, much more.Scheduled programming throughout the day. Some highlights include:Huna Qatar, a three-hour morning program which reviews all the action from the previous evening, allowing viewers to catch up on anything they may have missed.“World Cup Numbers”: A detailed look at fascinating statistics and records of the players, teams, and matches."I Am the World Cup" which considers the World Cup from the perspective of the fans.“Doha Time Show”: The traditions and culture of Qatar, including tourism attractions, interesting facts, and more.Ongoing coverage from beIN SPORTS NEWS social media feeds will keep followers abreast of the latest developments, with a brand-new colour coding system allowing for easy navigation of the news as follows:Green: End of match results will follow «End of Match».Yellow: Live stories will be under «Happening Now».Red: Non-exclusive news stories from our reporters/sources, will appear next to «Latest News».Purple: Exclusive news stories from our reporters/sources will appear next to «First Source».

 The second day of the 2022 Edition of the Global Cybersecurity Forum wrapped up after seeing substantive debates on tackling child exploitation and abuse online, predictions on a post-quantum cyber future and improving diversity within cybersecurity. Ian Goldin, Professor of Globalization and Development, Oxford University, shared his insights about what a new cyber order would likely look like, how the current and future states of Cyberspace will affect our lives, and how we can navigate it, stating that “global harmonization is a dream” and instead “mutual cooperative operating systems” would be the way forward. Women in cybersecurity was a key theme, with a special session entitled ‘Mind the Gap’ convening a panel of women including Juliette Wilcox CMG, UK Cyber Security Ambassador, to address the challenges for women in cybersecurity.Also in focus on day two was the protection of children online. International think-tank DQ Institute launched its Child Online Safety Index (COSI), a ranking of countries in relation to the strength of their child online safety measures. The index surveyed over 330,000 children and adolescents across 100 countries to assess the spread of cyberbullying and cyber threats. In light of the findings, Dr. Yuhyun Park, Founder and CEO of DQ Institute, challenged the audience to consider whether they were “putting children or technology first.”Memoranda of Understanding were signed between the National Cybersecurity Authority, the founder of the Global Cybersecurity Forum, and the DQ Institute, We Protect, UN agency the International Telecommunication Union, and UNICEF, that will implement several projects in support of child safety in Cyberspace – a central theme of the Forum. The 2022 edition saw over nine thousand people from 117 countries attending the event with over 120 expert speakers across the diverse program. The GCF podcast series, Rethinking Cyber, which was launched last month, continues to explore a range of compelling and accessible topics on Cyberspace, featuring several 2022 Edition speakers, released every Friday and is available on Spotify and Apple Podcasts. 

A Huawei executive said Thursday information and communications technologies, or ICT, will enable the digitalization of industry, spark innovation and make other industries green.The remarks were made at a session organized by the Global Innovation Hub (UGIH) of the United Nations Framework Convention on Climate Change (UNFCCC) at the ongoing 27th Conference of the Parties, or COP27, in Sharm El-Sheikh of Egypt.Referring to what is known as the “enabling effect”, Philippe Wang, Huawei’s Executive Vice President for the Northern Africa region, said ICT is “making other industries greener”.“5G, Artificial Intelligence, data analytics, cloud computing – all these things will improve industrial processes in a way that cuts energy use, and lowers carbon emissions,” he said.According to Philippe Wang, in the same way that ICT enables a smart streetlight to turn itself off when no one is around, 5G wireless base stations can automatically shut down when there is no data traffic, which saves energy.Base stations need a power source and have antennas. For its part, Huawei has been replacing diesel generators with solar panels, which offer a cleaner source of electric power, in Nigeria and Angola. At the same time, the company has launched a green 5G antenna that covers an area of up to 500 meters area using half the transmission power. That cuts energy consumption by 30 percent.Also speaking at the session on Thursday, Luis Neves, CEO, Global Enabling Sustainability Initiative (GeSI), stressed that digital should be at the core of the climate conversation.“If you bring a sustainability mindset together with digital, I think we can create a powerful machine to drive the sustainability agenda and accelerate the path for a world where 10 billion people can live a healthy life. And businesses should take both their carbon footprint and handprint into consideration,” he said.To this end, members of the ITU-T, including Huawei, have proposed a standard for measuring network energy use. Known as the Network Carbon Intensity energy metric, the standard was approved by ITU-T on October 19 as the Recommendation ITU-T L.1333.According to Nompilo Morafo, MTN Group Chief Sustainability & Corporate Affairs Officer, “sustainable, measurable action” holds the key to meeting net zero goals. “In this journey, the use of digital technologies offers particular potential to increase the generation of green energy and power efficiency of all industries,” she added.The UNFCCC UGIH session, titled ICT for Green, addressed the ways in which transformative ICT technology could be utilized to enable the green development of a wide range of industries, facilitating the world’s path to net-zero emissions.

Activity levels across the UAE’s real estate sectors have continued to record strong performance in Q3 despite a backdrop marked by rising global headwinds.Looking at the UAE’s office sector figures, as demand has increased market-wide, we have seen performance in Abu Dhabi’s office rents also improve, with average Prime, Grade A and Grade B rents recording growth rates of 1.4%, 2.9% and 5.5% respectively in the year to Q3 2022. In Dubai, the total number of commercial Ejari contracts (lease contracts) registered in Q3 2022 increased by 47.6% year-on-year. As a result, average rents in all segments of Dubai’s office market have recorded rental growth, with Prime, Grade A, Grade B and Grade C rents increasing by 16.5%, 10.5%, 9.9% and 10.2% respectively. Given the lack of availability of stock and heightened demand levels, we expect rental growth to remain relatively strong over the remainder of the year, with the Prime and Grade A segments of the market expected to outperform.  In the residential sector, average property prices in Abu Dhabi increased by 3.2% in the year to September 2022, with average apartment prices rising by 3.3% and average villa prices increasing by 2.7%. Rents in the capital’s residential market decreased by 0.5% on average in the year to September 2022, with apartment rents increasing by 0.3% and villa rents by 1.2%. In Q3 2022, Abu Dhabi’s transactions data registered an increase of 37.5%, compared to the prior year. In the year to date to September 2022, 3,164 new units have been completed and delivered in Abu Dhabi, a further 5,516 additional units are projected to be delivered over the course of the year.In Dubai, average property prices increased by 8.9% in the year to September 2022, where average apartment prices rose by 8.0% and average villa prices rose by 14.3%. Over the same period, average rental rates recorded their highest growth rate on record, with average rents in Dubai increasing by 26.6%, with average apartment and villa rents increasing by 26.7% and 25.5% respectively. To date in 2022, 20,847 new units have been completed and delivered in Dubai. A further 33,756 under-construction units are expected to be completed by the end of this year, however, we expect that some of these completions are likely to be pushed into 2023. The total volume of transactions in Dubai’s residential market reached 8,020 in September 2022, up 47% from a year earlier. In the year to date to September 2022, total transaction volumes hit the highest level since 2009, reaching a total of 63,143 transactions, which represents an increase by 56.2%. Looking ahead, we expect the rate price growth to continue to moderate on average. However, we expect that price performance in prime communities will continue to outpace the wider market.Looking at the hospitality sector, the UAE’s Key Performance Indicators (KPIs) continue to showcase resilient performance levels, despite total visitation still remaining below 2019 levels and an increased key count. Year-on-year in the year to date to September 2022, the average occupancy rate increased by 7.9 percentage points. Over the same period, the ADR increased by 34.6%, and as a result we have seen the average RevPAR increase by 52.0%. Average RevPARs across the UAE, in the year-to-date to September 2022, now sit 15.7% above 2019 levels, over the same period. Over the remaining three months of the year, we expect visitation to the UAE to see a marked increase. This will be underpinned by what is traditionally the start of the high-season and events such as The FIFA World Cup in Qatar and Abu Dhabi F1 Grand Prix, where this combination is likely to push occupancy and rates to record levels.The UAE’s retail sector continued to see visitation levels trend up over the course of Q3 2022. As at Q3 2022, retail visitation in Abu Dhabi and Dubai stood 18.6% and 20.4% above their respective pre-pandemic baselines. In Dubai, 6,031 new retail Ejari contracts were registered in Q3 2022, down 3.1% year-on-year, and 9,635 contracts were renewed, up 10.5% from a year earlier. In Dubai. demand from occupiers still is largely originating from the food and beverage and entertainment sectors, with licensed units still attracting the majority of this demand. We have also seen an uptick in demand beach clubs and family entertainment centre occupiers in Q3 2022. In Abu Dhabi, retail activity has remained subdued during the third quarter, even as COVID-19 related restrictions were eased in the capital. Where there is new demand, we are seeing this concentrated towards either new or repositioned destinations which are offering experience-focused retail destinations. Given these backdrops, Rental performance continues to diverge between Abu Dhabi and Dubai. In the year to Q3 2022, rental rates in Abu Dhabi remained stable, whereas in Dubai, average rental rates have increased by 32.5%.The UAE’s industrial and logistics sector continues to see a significant level of activity, despite a lack of quality stock hampering the market. As a result, occupiers are increasingly having to concede to requirements and timetables set out by landlords, and incentives offered are very limited. With stock levels depleted, we are starting to see some landlords, principally Free Zone landlords, beginning to develop new industrial and warehousing stock. Examples of upcoming and recent completions include developments in Dubai CommerCity, JAFZA Logistics Park and Dubai South. Total Ejari registrations in the sector increased by 9.4% in the year to Q3 2022. On the back of this market backdrop, in the year to Q3 2022, average rents in Abu Dhabi and Dubai increased by 2.6% and 11.2% respectively. Looking ahead, we expect the rate of rental growth to continue to increase, particularly with available stock continuing to lag significantly behind demand, we expect this to be the case in both Abu Dhabi and Dubai.Taimur Khan, Head of Research – MENA at CBRE in Dubai, comments: “Despite mounting global headwinds, the UAE’s real estate market is almost uniformly going from strength to strength and we have continued to see strong performance and activity levels over the course of the third quarter of 2022. There is little doubt that we will see weakening global macroeconomic conditions impact economic activity in the UAE. However, the UAE’s fiscal position, easing of business and residency regulations over the course of the year and safe-haven status are expected to dampen the scale of the impact. As a result, we expect that given the fundamentals underpinning the market, UAE real estate activity and performance will remain fairly resilient going forward.”

The inaugural Dubai Esports Festival (DEF 2022) was inaugurated today by Omar Sultan Al Olama, Minister of State for Artificial Intelligence, Digital Economy and Remote Work Applications, at Expo City Dubai.The 12-day event, held under the patronage of H.H. Sheikh Ahmed bin Mohammed bin Rashid Al Maktoum, Chairman of the Dubai Media Council, is being hosted by Dubai Festivals and Retail Establishment (DFRE) in partnership with VSPN, a global leader in e-sports activities and solutions, and presenting partner du.The opening ceremony was attended by Dr. Abdulla Al Karam, Director-General of the Knowledge and Human Development Authority (KHDA); Abdul Baset Al Janahi, CEO of Dubai SME; Ahmed Al Khaja, CEO of Dubai Festivals and Retail Establishment (DFRE); Chenfan Wang, Vice President, General Manager of Global Business at VSPN; and Ibrahim Al Mayahi Al Nuaimi, Vice President of Brand and Marketing Communications at du.Commenting on the launch, Al Olama said, “The UAE had consolidated its status as a leading global destination for new concepts and a champion of innovation, as it continues to attract international talent to analyse technology trends and opportunities to accelerate change to design a better future.”Al Olama noted that DEF 2022 would see the highest number of leading adult gamers convening in one place this year, underscoring the UAE and Dubai’s status as the most competitive gaming destination. “The event will bring together the world’s greatest gamers, developers, creatives and artists, allowing Esports fans to meet and engage with global gaming celebrities and industry leaders, reinforcing the UAE’s position as a hub for innovation,” he added.The Festival kicked off with the oversubscribed “Initiate Summit”, a two-day groundbreaking B2B knowledge and networking platform for e-sports and gaming industry professionals, developers and creatives.The Initiate Summit highlights Dubai’s role in championing the creative industry, including esports, through various incentives for international talent and organisations in the emirate. In addition, industry trends will be discussed, including emerging technologies, mobile gaming, investment opportunities, consumer behaviour, gamification and tournament organisation, among other current topics. Gaming developers and publishers, esports organisation founders, solution providers, as well as marketers and members of the gaming media, will make up the Initiate Summit’s impressive line-up of speakers.The Festival will bring together international gaming celebrities, industry leaders, developers, creatives and artists and feature an exciting line-up of live events and activations, concerts and competitions, including the highly anticipated PUBG Global Championship 2022, GameExpo, PopConME, Initiate Summit, Wegz live in concert, regional tournaments and Minecraft Esports Schools Clash, as well as retail promotions taking place across the city showcasing the latest games and merchandise.

 Emirates and Gulf Air have today officially signed a unilateral codeshare partnership, starting this December*. The new agreement will offer easy connections and expanded choices for Gulf Air customers connecting to Dubai and onwards to a host of Emirates destinations across Europe, Africa, South America and the Far East. The agreement was signed on the first day of the Bahrain Airshow, signalling a growing relationship between both airlines following on the framework of cooperation established last year. The agreement was signed by Sir Tim Clark, President Emirates Airline and Gulf Air’s Chief Executive Officer Captain Waleed Al Alawi in the presence of H.E. Mr. Zayed R. Alzayani, Gulf Air’s Chairman of the Board of Directors. The signing ceremony was also attended by members of each airline’s executive management teams.The expanded partnership will see Gulf Air place their marketing code “GF” on Emirates operated flights beyond Dubai to a selection of some of the most attractive global tourism hotspots, offering new holiday options for Gulf Air customers. Travellers will be able to connect to points including Budapest, Prague, Warsaw, Algeria, Tunis, Bali, Hanoi, HoChi Minh City, Taipei and Sao Paulo. The new codeshare agreement’s mix of unique points comes as travellers from the GCC have become more well-informed, value-driven and savvy, increasingly looking for new, diverse experiences and attractions beyond their traditional holiday destinations. The new partnership will also offer customers the convenience of combined ticketing and check-in, a unified policy and seamless transfers for baggage, and competitive single fares on a multi-airline journey when connecting on Emirates. Customers can book their travel on Gulf Air’s website, through Gulf Air point of sales and online travel agencies as well as with local travel agents. Sir Tim Clark, President Emirates Airline said: “We are pleased to partner with Gulf Air to offer their customers greater access and strong connection opportunities to unique destinations on our network, complemented by Emirates’ signature in-flight service and hospitality throughout their journey from Dubai. We look forward to working together and achieving more with Gulf Air in the near future, and further strengthening our relationship." Captain Waleed Al Alawi, Gulf Air Chief Executive Officer commented: “Our relationship with Emirates Airline has always been strong and today we are reaching a higher level of collaboration with many more opportunities in the horizon between the two carriers. This partnership will empower both of us to offer a more elevated experience to passengers and widen their travel options.”Emirates currently has codeshare cooperation agreements in place with 26 airline partners and two rail companies around the world, expanding its network reach to over 300 cities.

Seef Properties B.S.C. (Bahrain Bourse Trading Code: SEEF) announced its financial results for the third quarter ended 30 September 2022. The Company reported a net profit and comprehensive income attributable to the parent of BD 2.18 million during the third quarter of 2022, compared to BD 1.24 million for the same quarter of last year, with an increase of 75.62%. The increase is attributable to the increase in revenue in both the hospitality and the entertainment segments due to return to near-normal operational levels induced by relaxation of travel and other pandemic restrictions, in addition to the opening of “Yabeela”, the new family entertainment centre in Al Liwan operated by the Company’s entertainment arm.Diluted earnings per share attributable to the parent for the third quarter of 2022 amounted to 4.74 fils, compared to 2.70 fils for the same quarter of the previous year. The Company’s operating profit stood at BD 3.08 million during the third quarter of 2022, compared to BD 2.03 million for the same quarter of last year, with an increase of 51.67%. Revenues increased in the third quarter of 2022 by 55.77% to reach BD 4.13 million, compared to BD 2.65 million for the corresponding quarter of last year.The Company reported a net profit and comprehensive income attributable to the parent of BD 5.20 million for the period ended 30 September 2022, compared to BD 3.54 million for the same period of last year, with an increase of 46.85%. The increase is attributable to the reasons cited above.Diluted earnings per share attributable to the parent for the period ended 30 September 2022 amounted to 11.31 fils, compared to 7.70 fils for the same period of the previous year. The Company’s operating profit stood at BD 9.27 million during the period ended 30 September 2022, compared to BD 7.35 million for the same period of last year, with an increase of 26.19%. Revenues increased in the period ended 30 September 2022 by 31.08% to reach BD 11.67 million, compared to BD 8.91 million for the corresponding period of last year.The Company’s total equity (after excluding the equity attributable to minority) for the period ended 30 September 2022 increased by 1.58% to reach BD 157.33 million, compared to BD 154.88 million for the financial year ended 31 December 2021. The total assets for the period ended 30 September 2022 increased by 1.27% to reach BD 182.16 million, compared to BD 179.87 million for the financial year ended 31 December 2021.Commenting on the occasion, Mr. Essa Mohamed Najibi, Chairman of the Company’s Board of Directors, stated: “We are delighted to announce positive financial results for the third quarter of 2022, which are in line with the Company’s strong financial and operational performance during the first nine (9) months of this year. These results are a continued testament to the Company’s flexible business model and the diversification of its investment portfolio and activities in the shopping, entertainment and hospitality sectors, placing it firmly on the right path towards achieving its strategic objectives of sustainable growth and prosperity, and further bolstering its income diversification to better serve the interests of its shareholders and partners in success.”He further added, “The Company continues to make progress towards achieving the expectations and aspirations of its shareholders and customers alike vie accomplishing exceptional financial and operational results and maintaining a healthy and sustainable growth in profitability, revenues and liquidity. The Company will continue to deliver everything that is new and unique in the world of shopping, shopping centre management, hospitality and entertainment in a manner consistent with the needs of shoppers, with the ultimate aim of further consolidating the Company’s leading position and positively impacting its financial statements and operations.”On his part, the Company’s Chief Executive Officer, Mr. Ahmed Yusuf, said, “The Company is steadily fortifying its leading position in the hospitality, retail and mall management sectors. With the improvement of its operational performance in the first nine (9) months of this year, the Company is proud to attract more prestigious brands in all shopping centres within its portfolio.”Expanding further, Mr. Yusuf explained, “The Company is better prepared than ever to record stronger financial results due to the diversity of its portfolio, its leadership in the shopping centre management sector and its accumulated expertise in the fields of retail, entertainment and hospitality, which serve to reinforce the position of Seef Malls as exceptional shopping centres in the Kingdom. The Company is confidently moving towards achieving better results in the last quarter of the year relying primarily on innovative management of its projects to attract larger numbers of visitors and new partnership opportunities.”Mr. Yusuf further confirmed that the accelerated rate of economic recovery currently witnessed by the Kingdom of Bahrain is contributing to the promotion of economic growth and further widening the opportunities for commercial and tourism sector recovery, which is apparent in the improvement of the hospitality and entertainment sector performance as they record higher occupancy rates commensurate with the increase in visitors from outside the Kingdom of Bahrain, particularly from the Kingdom of Saudi Arabia and the Gulf Cooperation Council.

ADSS, the Abu Dhabi and London-based financial services firm, has announced that Holly Joint will join the firm as its Global Chief Operating Officer to support the firm through its ambitious growth strategy, leveraging her expertise in digital transformation amid the introduction of hyper-personalised products and services.Targeting the expansion of its institutional and retail client base in the UK, Europe and the Middle East, ADSS’ growth strategy will see the firm deploy cutting-edge technology to provide industry-leading services and products to its clients. In her new role, Holly will be responsible for spearheading the development and execution of this strategy, enhancing operational efficiencies to allow the firm to better service its client base.Holly brings over 20 years of executive management experience, with a career focused on developing and executing business and digital transformation strategies that deliver sustainable growth. Prior to joining ADSS, Holly led digital transformation at a group level for Abu Dhabi Commercial Bank (ADCB), enacting the digital strategy to enhance the customer experience and strengthen operational performance and governance. Before her role at ADCB, Holly was Chief Transformation Officer for Farah Experiences, a subsidiary of Miral Asset Management. She also brings an entrepreneurial mindset through her experience with start-ups, working in Accenture’s eCommerce Innovation Centre earlier in her career, alongside launching and running a business with British entrepreneur Peter Jones.On the new appointment, Mahmood Al Mahmood, Executive Chairman and Chief Executive Officer of ADSS, said: “Rapidly deploying cutting-edge technology will be essential as ADSS becomes an industry-leading brokerage that delivers best-in-class client services and products. Holly’s remarkable experience in leading businesses through digital transformation will help us progress at an accelerated pace, allowing us to fully capitalise on the opportunities in front of us.”Discussing her priorities in her new role, Holly Joint, COO of ADSS, said: “Through employing next generation technologies both to enhance our internal operations and to reimagine our products and services for clients, there is a significant opportunity for ADSS to substantially ramp-up its wider growth strategy. It is certainly an exciting time to be joining ADSS and I’m looking forward to working with the high-calibre team in this next phase of ADSS’ journey.”With Holly’s appointment, women now represent 36% of ADSS’ executive management team, significantly surpassing the global industry average of 24%, according to Deloitte. In line with the UN’s Sustainable Development Goals and various initiatives led by the UAE’s leadership, ADSS has prioritised levelling the playing field for women in financial services, fostering an inclusive and diverse workplace across its London and Abu Dhabi offices. 

Award-winning, ‘integrated by design’ agency in the MENA region – BPG (part of the WPP Network) has announced senior-level appointments to drive the agency’s renewed focus on customer experience, in addition to hires across PR, media, UX, content and creative.Research by Gartner has revealed that experience-led businesses have 1.6x higher brand awareness and 1.7x higher customer retention. BPG is working at the inflection point of data, customer, creative, communications and brand to deliver real outcomes for customers, with value and growth for clients. Strong customer experiences can generate positive business impact in 2022 and beyond.Darius LaBelle joins BPG as EVP/Chief Client Officer to lead the agency’s CX, digital, creative, and strategy products. Darius has two decades of experience in strategy, brand, business growth and CX across consumer, healthcare and B2B brands in Asia, the Middle East, the US and Australia. He has worked with agencies such as BBDO, Ogilvy, Havas and Sapient and for brands like Emirates, Aldar, AbbVie, Sanofi, 3M, ANZ. Before joining BPG as Chief Client Officer Darius was based in New York, where he helped launch Havas Health CX, a data-led experience agency.Ramy El Sakka joins BPG as SVP/Chief Creative Officer. Ramy started his career with J Walter Thompson Cairo, working on brands such as Nokia, Nestle, Lipton, HSBC and Cadbury Adams, and winning pitches for Vodafone and Egyptian Tourism. Ramy has worked with Leo Burnett Cairo, DDB Dubai and BBDO UAE, to lead brands such as Orange, PepsiCo, Henkel, Glad, Etisalat and Lipton Ice Tea. He played a major role in charting DDB’s success and has won numerous awards for the agency. A project he is proud of is “Lucky or Not” for Etisalat which was awarded best film of the year by Vimeo and exceeded set KPIs.Avi Bhojani, Group CEO, BPG said: “BPG is an Integrated by Design’ agency where creative, communications, media, data, CX and content converge under one roof. This gives brands the freedom and ability to plan and execute their marketing with the customer truly at the centre. We are increasingly seeing that customers expect more from every interaction they have with brands across multiple touchpoints. I’m confident that Darius and Ramy will leverage their CX and creative expertise and BPG’s 40-year market insights in the region to deliver exciting outcomes for brands and clients both from the government & private sectors.”

 Oman will be hosting the 29th World Travel Awards Grand Final Gala Ceremony on Friday, 11th November, at the Al Bustan Palace, a Ritz-Carlton Hotel, under the patronage of His Excellency Salim bin Mohammed Al Mahrouqi, Minister of Heritage and Tourism.This significant step comes as part of the efforts to promote and position Oman as one of the top tourist destinations in the region, in addition to being one of the important players in the tourism sector at the regional and global level.It is noteworthy that the Sultanate of Oman, represented by Oman Airports, hosted this prestigious award ceremony for the first time in 2019. The ceremony witnessed great success in terms of participation and the local and international media coverage that accompanied it.A total of 16 major awards were also awarded to Oman, 3 for Oman Airports and 4 for Oman Air, while a number of other awards were presented to hotels and travel and tourism agencies in the Sultanate.It is likely that the 29th edition of the World Travel Awards will witness strong competition this year, following the recovery of the travel and tourism sector in 2022 compared to the previous two years, which witnessed a significant decline due to the pandemic.Established in 1993 in England, the World Travel Awards celebrates its 29th anniversary this year. Its annual programme is renowned as the most prestigious and comprehensive in the global tourism industry. Travel and tourism-related companies and hotels the world over are always keen to participate for a chance to win one of their illustrious awards. Doing so is an achievement that provides them with the ideal marketing tool to promote their winning products and services.

Arthur D. Little (ADL) has published “The Metaverse: What’s In It For Telcos?” exploring how telcos can capture value by leveraging the metaverse. Metaverse represents a major new market for telcos with early estimates of the overall size of the Metaverse opportunity to be around $13 trillion by 2030. For example, Ericsson estimates the opportunity presented by 5G fixed wireless access at $5 billion in 2022, growing to $21 billion in 2025 and $53 billion by 2030.Three related forces drive the imperative for telcos to be proactive in their Metaverse strategies and tactics. First, the demand is likely to be too large to ignore. Second, the risk of failure or non-participation could be existential: hyperscalers such as Amazon Web Services (AWS) and Microsoft Azure will be close on the heels of those telco players that fail to guarantee the infrastructure the Metaverse necessitates. Third, consumer behavior, particularly from Gen Z, shows that demand for Metaverse products is already well into the mainstream. For example, according to a recent study by Obsess, 75% of Gen Z virtual shoppers have already purchased a digital product within a video game. To connect with this generation of consumers, telcos must invest in Metaverse offerings and capabilities.Given these three factors, telcos should explore how they can benefit from the Metaverse’s rise, both with infrastructure and through direct participation. By engaging effectively with this new market, benefits for telcos include growth from increased revenues and retention and new efficiency gains along multiple axes, including carbon usage and workforce outsourcing.Thomas Kuruvilla, Managing Partner, Arthur D. Little, Middle East, said: “The expected acceleration in Metaverse prospects is driven by a real convergence of multiple factors: internet connectivity, technology related to sensors to collect data, digitalization and AI — and the value of a reliable communication is obvious. As highlighted in the report, the Metaverse will add tremendous value to all and this should allow telcos to share a part of the benefit, as increased revenue which can be spend on network infrastructure and addressing the challenge of ultra-low-latency requirements. A good connectivity will enable Healthcare and Education providers to deliver services to disadvantaged and remote communities – and at an overall lower cost – democratizing access and care for citizens worldwide. Going forward, the % increase in adoption of digital services/Metaverse will be higher with the lower income population ADL estimates the total addressable market will grow at a 33% CAGR from 2022–2025 (excluding infrastructure and enabling technologies).” Dr. Albert Meige, Director of Blue Shift at Arthur D. Little, said: “The Metaverse provide a vision for the transition to a more connected, immersive and tech-driven world. It could also be a crucial accelerator in the search for tools that support the individual lifestyle of the next generation of consumers. It is increasingly clear that speeding up infrastructure enhancements to meet demand is not only essential but urgent, and the telecommunications sector is at the heart of this challenge. The aim of this Viewpoint is to spotlight key enablers and provide recommendations for telcos to unlock the potential of the Metaverse opportunity and help them enact a fast and equitable digital transition.”ADL Viewpoint explores the multifold benefits for telcos, from leveraging infrastructure to building new business models to capturing downstream value through active participation in the Metaverse as a “single point of service.” The Viewpoint underlines that speed is important in capturing the Metaverse opportunity, and spotlights that the Metaverse necessitates structural changes to the telecom industry on an infrastructure level and offers valuable economic and strategic benefits for those telcos that actively participate in it. Metaverse Requires Enabling TechnologiesTelcos will need to develop key enabling technologies — from infrastructure to artificial intelligence (AI) and analytics — to fully participate in the Metaverse, including the following:Local compute for a truly immersive experienceUltra-low-latency communications for a lag-free experienceEnhanced cloud computing for interactions on a mass scaleAnalytics & AI capabilities to facilitate telcos’ activitiesPrivacy & trust infrastructure to tame the regulatory “Wild West”ADL Viewpoint explores the multifold benefits for telcos, from leveraging infrastructure to building new business models to capturing downstream value through active participation in the Metaverse as a “single point of service.” With excellent customer understanding and trust alongside a fundamental role in enabling the Metaverse (infrastructure), telcos are well positioned to move through the value chain to capture a greater slice of the pie.

 Agthia Group PJSC, one of the region’s leading food and beverage companies, today announced net revenue of AED 954 million for Q3 2022, up 20% year-on-year, following the successful consolidation and integration of recent acquisitions.Group EBITDA increased 23% year-on-year to AED 128 million notwithstanding significant upwards pressure on raw material costs in the period, testament to both strong cost discipline and leveraging synergies across new verticals. Net profit was AED 40.5 million, up 14% on the prior year.Khalifa Sultan Al Suwaidi, Chairman of Agthia Group, said: “Agthia’s strong third quarter performance demonstrates management’s proven ability to acquire and consolidate value accretive businesses while leveraging synergies and maintaining a profitable core. In conjunction with its clear strategic priorities, growing capabilities, and strong executive team, I am confident that Agthia will continue to deliver value for all stakeholders in both the near and longer-term as it continues its transformative journey to a leading food and beverage company in the MENAP region and beyond.”Alan Smith, Chief Executive Officer of Agthia Group, said: “Despite a challenging external backdrop, I am pleased to report another quarter of profitable growth, combining strong performance from recently acquired businesses and our enduring focus on efficiency generation. We continue to consolidate our strategic acquisitions made this year and last year and look forward to completing the acquisition of Auf Group – having already secured the necessary approvals from the Board of Directors – to enhance our Egyptian footprint and further expand our snacking division. We remain enthused by the long-term growth opportunity ahead of us.”From a financial perspective:Revenue from Agthia’s Consumer Business Division grew 29% year-on-year, and now represents 76% of the total group, up from 71% in the prior year.Revenue from the Protein & Frozen segment was AED 308 million, up 39% year-on-year, reflecting good portfolio and channel management. On a constant currency basis, adjusting for the recent devaluation in the Egyptian pound, Q3 sales growth was 56% year-on-year.Snacking revenue was AED 182 million for the quarter, up 69% year-on-year and underpinned by strong growth from the Group’s dates business. BMB, consolidated from the start of 2022, contributed AED 55 million.Water & Food revenue was AED 238 million for the quarter, with 1% growth year-on-year reflecting lower demand across the UAE as post-pandemic outbound travel accelerated over the holiday period. Market leadership in UAE bottled water across retail was maintained with a 27.9% share, with good incremental growth across both Food Service and 5-gallon home delivery subscriptions.Agri-business revenue for the quarter was AED 225 million, marginally down year-on-year reflecting lower demand during the summer months, albeit up 10% on a year-to-date basis. Proactive management of mix in the quarter supported stronger profitability year-on-year, offsetting significant inflationary pressures across key commodities.Agthia also announced a strategic long-term lease covering the assets and operations of the UAE frozen bakery business with the Middle East operations of La Lorraine, a Belgian-based Bakery Group with over 80 years of milling and bakery experience.The Group’s total assets stood at AED 6.6 billion as of 30th September 2022, while total shareholders’ equity for the period stood at AED 2.8 billion.In line with Agthia’s semi-annual dividend distribution policy, a cash dividend equivalent to 8.25 fils per share for the first half of 2022 was disbursed post all subsequent approvals on 1st October 2022. Agthia Group PJSC, one of the region’s leading food and beverage companies, today announced net revenue of AED 954 million for Q3 2022, up 20% year-on-year, following the successful consolidation and integration of recent acquisitions.Group EBITDA increased 23% year-on-year to AED 128 million notwithstanding significant upwards pressure on raw material costs in the period, testament to both strong cost discipline and leveraging synergies across new verticals. Net profit was AED 40.5 million, up 14% on the prior year.Khalifa Sultan Al Suwaidi, Chairman of Agthia Group, said: “Agthia’s strong third quarter performance demonstrates management’s proven ability to acquire and consolidate value accretive businesses while leveraging synergies and maintaining a profitable core. In conjunction with its clear strategic priorities, growing capabilities, and strong executive team, I am confident that Agthia will continue to deliver value for all stakeholders in both the near and longer-term as it continues its transformative journey to a leading food and beverage company in the MENAP region and beyond.”Alan Smith, Chief Executive Officer of Agthia Group, said: “Despite a challenging external backdrop, I am pleased to report another quarter of profitable growth, combining strong performance from recently acquired businesses and our enduring focus on efficiency generation. We continue to consolidate our strategic acquisitions made this year and last year and look forward to completing the acquisition of Auf Group – having already secured the necessary approvals from the Board of Directors – to enhance our Egyptian footprint and further expand our snacking division. We remain enthused by the long-term growth opportunity ahead of us.”From a financial perspective:Revenue from Agthia’s Consumer Business Division grew 29% year-on-year, and now represents 76% of the total group, up from 71% in the prior year.Revenue from the Protein & Frozen segment was AED 308 million, up 39% year-on-year, reflecting good portfolio and channel management. On a constant currency basis, adjusting for the recent devaluation in the Egyptian pound, Q3 sales growth was 56% year-on-year.Snacking revenue was AED 182 million for the quarter, up 69% year-on-year and underpinned by strong growth from the Group’s dates business. BMB, consolidated from the start of 2022, contributed AED 55 million.Water & Food revenue was AED 238 million for the quarter, with 1% growth year-on-year reflecting lower demand across the UAE as post-pandemic outbound travel accelerated over the holiday period. Market leadership in UAE bottled water across retail was maintained with a 27.9% share, with good incremental growth across both Food Service and 5-gallon home delivery subscriptions.Agri-business revenue for the quarter was AED 225 million, marginally down year-on-year reflecting lower demand during the summer months, albeit up 10% on a year-to-date basis. Proactive management of mix in the quarter supported stronger profitability year-on-year, offsetting significant inflationary pressures across key commodities.Agthia also announced a strategic long-term lease covering the assets and operations of the UAE frozen bakery business with the Middle East operations of La Lorraine, a Belgian-based Bakery Group with over 80 years of milling and bakery experience.The Group’s total assets stood at AED 6.6 billion as of 30th September 2022, while total shareholders’ equity for the period stood at AED 2.8 billion.In line with Agthia’s semi-annual dividend distribution policy, a cash dividend equivalent to 8.25 fils per share for the first half of 2022 was disbursed post all subsequent approvals on 1st October 2022.

STARZPLAY, ranked consistently among the region’s top 3 subscription video on demand service, today announced its partnership with Perfect Solutions in Jordan to bring the world of football closer to fans in the market. Perfect Solutions has fostered strong relations and also offers access to government agencies in its distribution network.As part of the distribution deal, Perfect Solutions will provide sports lovers with physical vouchers as an alternative to subscribing via credit card to STARZPLAY’s sports offering, which is currently streaming the prestigious Italian Football League Serie A. The vouchers will be sold across Perfect Solutions’ 500+ stores.Raghida Abou Fadel, SVP for Business Development & Sales, STARZPLAY, said: “We are pleased to partner with Perfect Solutions to offer our services via their extensive network. Subscription through distributors is one of the fastest and easiest ways to make our content available to millions of subscribers. Credit card penetration outside of the UAE is relatively low and such partnerships therefore support in expanding our subscriber base and connecting with new users. Subscription base from these partnerships is our biggest growth channel and we look forward to strengthening our network.”Tariq Doglas, CEO from Perfect Solutions added “We are delighted to partner with the region’s leading streaming platform STARZPLAY to offer additional benefits and convenience to our customers. With the evolving consumer needs, it has become imperative to offer value-added benefits to retain our existing customer base as well as attract potential customers. We are confident our partnership with STARZPPLAY will be welcomed by our customers and will certainly bring more value to their overall experience with us.”STARZPLAY Sports is home to premium international and regional tournaments such as Serie A, Coppa Italia, Supercoppa Italiana, Dutch Eredivisie, International Cricket, All Elite Wrestling, PGA Tour, EuroLeague & EuroCup basketball competitions, Queensbury Boxing, any many more sporting leagues.With thousands of hours of premium content including the best western content, Arabic shows, Turkish favourites, anime, and live sports, STARZPLAY is available in 19 countries across the Middle East, North?Africa,?and Pakistan for fans to enjoy quality content anytime, anywhere, and from any device.

Zain Group, the leading telecom innovator in seven markets across the Middle East and Africa, announces its consolidated financial results for the third-quarter (Q3) and nine-month periods (9M) ended September 30, 2022. The company added 3.5 million active subscribers to serve a total of 52 million customers, a 7% year-on-year (Y-o-Y) growth.Group Key Performance Indicators (KD and USD) for the nine months (9M) 2022Consolidated RevenueKD 1.3 billion      - USD 4.2 billion    EBITDAKD 491 million     - USD 1.6 billion    EBITDA Margin39%  Net IncomeKD 152 million     - USD 497 million   EPS35 fils                   - USD 0.11  For 9M 2022, Zain Group generated consolidated revenue of KD 1.3 billion (USD 4.2 billion), up 12% year-on-year (Y-o-Y), while consolidated EBITDA for the period reached KD 491 million (USD 1.6 billion), up 3% Y-o-Y, reflecting a healthy EBITDA margin of 39%. Efficiency and optimization initiatives resulted in consolidated net income increasing 12% Y-o-Y, amounting to KD 152 million (USD 497 million). Earnings per share amounted to 35 fils (USD 0.11) for the nine-month period.Group Key Performance Indicators (KD and USD) for third-quarter (Q3) 2022Consolidated RevenueKD 441 million - USD 1.4 billion   EBITDAKD 171 million - USD 555 million     EBITDA Margin39%Net IncomeKD 54 million  - USD 176 million  EPS13 fils              - USD 0.04    In Q3 2022, Zain Group generated consolidated revenue of KD 441 million (USD 1.4 billion), up an impressive 15% Y-o-Y. EBITDA for the quarter reached KD 171 million (USD 555 million), an increase of 2% Y-o-Y, reflecting a 39% EBITDA margin. Net income for the three months amounted to KD 54 million (USD 176 million), a 10% increase Y-o-Y. Earnings per share for Q3’22 amounted to 13 fils (USD 0.04).The significant increase in 9M consolidated net income is mainly due to the impressive performance of operations, particularly Kuwait, Saudi Arabia and Sudan. The subsiding of the pandemic and increased economic activity across all markets combined with appealing consumer digital service offerings centered around streaming and gaming, had a positive effect on the results. Furthermore, lucrative ZainTech and B2B monetization initiatives amplified investments made in 4G, 5G and FTTH expansion and upgrades, also drove revenue growth.Key Operational Notes for 9M 2022An interim cash dividend of 10 fils, totaling USD140 million was distributed in September 2022The 9M 2022 period was highlighted by the 109% Y-o-Y increase in net income at Zain KSA, a 140% net income increase at Zain Sudan and a 5% net income growth at Zain KuwaitData revenue grew 3% to reach USD 1.66 billion representing 40% of consolidated revenueThe first nine months saw Zain Group invest USD 316 million in CAPEX reflecting 8% of revenue, mainly in Fiber-to-the-Home (FTTH); spectrum fees; 4G upgrades and 5G rolloutsZain Jordan agreement with government includes extension of the current spectrum licenses for 10 years and a 25-year 5G licenseZain KSA expects to finalize the sale of its passive Tower infrastructure to the Kingdom’s Public Investment Fund led consortium for USD807 million in Q4, 2022Zain Bahrain receives approval from the Central Bank for a Fintech licenseCombined, Tamam in Saudi Arabia, Zain Cash in Iraq and Jordan, and M-Gurush in South Sudan increase their customer base by 34% with annual revenue growth of over 231%Digital services groupwide witness revenue growth of 47% Y-o-Y, inclusive of the Dizlee (API) platform, which continues its trajectory growth, offering 51 live services and resulting in over 175 million API transactions since launch in mid-2018Digital operator ‘Yaqoot’ in KSA saw revenue growth of 129% Y-o-YThe evolution of Zain Esports continues through the August 2022 launch of PLAYHERA MENA, a JV between Zain Group, Zain KSA and PLAYHERA. To date, Zain Esports has held 25 major tournaments, with 30,000 participants and acquired over 50 million social media impressionsZain joins the UN Global Compact initiative, a leadership platform for the development, implementation, and disclosure of responsible business practicesZain ranked best employer in Kuwait, among top-10 companies to work for in region by ForbesZainTech enters agreement to acquire BIOS Middle East, a regional cloud provider and receives two innovative awards from SAMENA Council-MEA Business Technology Achievement Awards. Chairman of Zain Group, Ahmed Al Tahous said, “These strong financial results underscore the Board and management’s focus on ensuring that investments in new growth opportunities, network upgrades and environmental, social and governance practices enhance shareholder value. We firmly believe that by providing meaningful connectivity that fosters equitable systemic change, we are empowering and improving the socio-economic well-being of the communities, businesses and government bodies we serve.”Zain Vice-Chairman and Group CEO, Bader Al-Kharafi commented, “This outstanding 9M operational performance is testament to the successful execution of our ‘4Sight’ growth strategy that has firmly strengthened the company’s financial position to fund future opportunities. Our focus on driving efficiencies, synergies and digital transformation across our operations, in tandem with investing in new business verticals and network upgrades, all rooted in sustainability and inclusivity at the core of everything we do, is paying off.”“With the global economy witnessing socio-economic challenges on multiple fronts, Zain’s track record of resilience and agility to adapt to a vastly changing environment, has prepared us well to tap into the many lucrative opportunities that may arise.”“As we drive the business forward seeking healthy cashflows, mainly through innovation in the consumer digital arena and the lucrative B2B space, our primary aims are to be the ICT partner of choice for governments and enterprises across the region and provide our individual customers an exceptional digital lifestyle experience.”“Our portfolio optimization strategy is well on track following the successful sale of our passive tower infrastructure in Kuwait, Jordan and soon KSA, with Iraq next in the pipeline. In Jordan, following the granting of a 25-year 5G license, we expect to be live with 5G services in H2’ 2023, a significant milestone in the Kingdom’s rich telecom history, given the socio-economic boost this technology will give to the Jordanian community.”“From a technology advancement point of view, another milestone was the deployment of our Nationwide Narrowband-IOT (Internet of Things) network in Kuwait and Bahrain, creating an exciting ecosystem for customers and enterprises.”“In Kuwait, the operation continues playing its pivotal and innovative role in support the country’s Vision 2035, recently highlighted by the launch of the world’s first Voice over 5G (Vo5G); the launching of cloud services in coordination with ZainTech; and successfully completing the first live trial in the region of Open and Virtual Radio Access Network (Open cRAN), firmly cementing Kuwait on the global ICT map. We look forward to attaining a Digital banking license in 2023 and offering our customers a range of dynamic Fintech services, fulfilling our aspirations of becoming the leading telco-led bank in Kuwait.”Al Kharafi concluded, “The adoption and successful implementation of comprehensive Sustainability and Diversity and Inclusion programs across our footprint have had an enormous positive impact on the work culture, and it was rewarding to be recognized in Forbes magazine global list as the best employer in Kuwait and top ten regionally for the second time.”Operational review of key markets for the nine months ended 30 September, 2022Kuwait: Maintaining its market leadership in all key performance indicators, Zain Group’s flagship operation saw its customer base grow notably by 12% to now serve 2.6 million customers. It remains the Group’s most profitable operation. 9M 2022 revenue grew 10% to reach KD 258 million (USD 844 million), EBITDA grew 8% to reach KD 99 million (USD 323 million), representing an EBITDA margin of 38%. Net income grew 5% to reach KD 61 million (USD 200 million) for 9M 2022, with data revenue growing 2% and accounting for 38% of total revenue.Saudi Arabia: For the 9M 2022, Zain KSA revenue grew 15% to reach SAR 6.7 billion (USD 1.8 billion), EBITDA for the period reached SAR 2.2 billion (USD 598 million), reflecting an EBITDA margin of 34%. Net income for the nine months grew 109% to reach SAR 299 million (USD 80 million). Data revenue represents 44% of total revenue and customers served stood at 8.6 million, a growth of 15%. The impressive net income is attributed to the increase in revenue driven by the growth in B2B, 5G, and the return of international Umrah and business visitors post the Kingdom relaxing COVID restrictions.Iraq: Zain Iraq’s 9M 2022 revenue grew by 5% to reach USD 601 million and EBITDA grew by 6% to reach USD 241 million, reflecting EBITDA margin of 40%. Net income reached USD 10 million for 9M 2022. The operator’s customer base increased by 11%, now to serve 18.4 million customers maintaining its market leading position.Sudan: For 9M 2022, Zain Sudan generated revenue of USD 339 million (up 41%), with EBITDA amounting to USD 178 million (up 51%), reflecting an EBITDA margin of 53%. The operation reported an impressive net profit of USD 174 million, reflecting a 140% increase in USD terms. Data revenue grew 60% YoY and represented 32% of total revenue, while the operator’s customer base reached 16.2 million, maintaining its market leadership. Price revamps to mitigate the currency devaluation along with data monetization and consumer centric initiatives were instrumental in the impressive financials.Jordan: For 9M 2022, Zain Jordan revenue increased by 2% to USD 382 million, EBITDA reached USD 170 million, reflecting a healthy EBITDA margin of 44%, with net income reaching USD 51 million. With the ongoing expansion of 4G services across the country, data revenue represented 50% of total revenue. Zain Jordan served 3.8 million customers (up 4%) maintaining its market leading position. With the recent 10-year extension of 2G, 3G and 4G licenses and the granting of a 25-year 5G license that will be commercially live in H2, 2023, the operation is well-primed for robust financial performance. Bahrain: Zain Bahrain generated revenue of USD 134 million for 9M 2022 (5% growth). EBITDA grew 2% to reach USD 44.3 million, reflecting an EBITDA margin of 33%, while Net income grew 1% to reach USD 12 million, for 9M 2022. Driven by its commitment to sustainability, the operation deployed the latest 5G Massive MIMO radio to reduce Zain's 5G site-level power consumption by 15%; the first telco to deploy this advanced solution in the Middle East and Africa.

Bain & Company, the leading global management consulting firm, today announces the appointment of Mourad Limam as a partner in its Dubai office, with a focus on the firm’s Private Equity (Sovereign Wealth Funds) and Advanced Manufacturing Services (Real Estate and Social Infrastructure) practices in the Middle East region.Limam, whose appointment as Partner is effective October 1, joins Bain & Company from the Emerging Markets organisation of Henkel Adhesives Technologies in MEA, where he was responsible for P&L and business growth, in addition to transforming the operating model and reshaping the organization.His appointment as partner comes as Bain & Company continues its strong expansion across the EMEA region, extending its European footprint with new offices opened recently in both Lisbon and Athens.“The addition of Mourad to our Partner team further strengthens our expertise in key focus areas for Bain & Company in the Middle East. His wealth of experience as an advisor and executive, and proven leadership track record – with particular depth in real estate and infrastructure – will enable us to provide even more innovative solutions to our clients. I am confident that Mourad will add significant value to our wide range of corporate, government, and investor clients in the Middle East in his new role,” said Tom De Waele, Managing Partner at Bain & Company Middle East.Limam underwent his higher education in Germany, graduating with a Ph.D. in Automotive Mechatronics from the Technical University of Dresden and a Master’s in Computer Science from the University of Stuttgart.“I’m delighted to be joining Bain & Company and for the opportunity to work with an array of clients, adding value through my investment and development experience in the Middle East,” Limam said. “It’s an exciting time for the region, with plenty of strategic growth opportunities to leverage, especially as we are seeing major government investments across key geographies. I look forward to the challenge and to helping the team create innovative solutions for our valued partners.”

Collinson has today announced the board appointment of Jon Holmes as its new Chief Financial Officer. Jon comes to Collinson with more than 20 years financial and operations experience, including at travel companies such as Avios, TUI and Virgin Holidays.In his role as Chief Financial Officer, Jon will oversee all of Collinson’s financial teams from across the globe, with the aim of driving better financial global insights. He’ll work closely with, and report into, Joint CEO Christopher Evans, providing the overall financial governance to the group to support rapid growth, increased innovation, and the creation of new commercial models.Jon brings to Collinson a wealth of experience leading finance teams at some of the travel industry’s biggest companies. His previous roles include Head of Finance at AirMiles (now Avios/IAG Loyalty), Head of Finance at TUI, Finance and Strategy Director at Virgin Holidays and most recently CFO at INTO University Partnerships, a privately owned business recruiting international students globally into the US, UK and Australia. After gaining a First-Class degree in Engineering from the University of Nottingham, Jon trained with PWC and KPMG and has been a Fellow of the Institute of Chartered Accountants since 2012.“Jon's strong international experience and travel and loyalty experience, coupled with his track record in optimising business performance and platform transformation, means he is ideally placed to lead our finance teams and help deliver our strategic objectives and realise our full potential,” said Christopher Evans, Joint CEO, Collinson. “We know Jon will make a big shift in the way we capture, analyse and use financial information, giving us better insights that will drive faster and enhanced decision making, in what is a very dynamic environment as we accelerate out of the pandemic.” Over more than seven years with INTO, Jon helped the business to expand globally and triple profitability within five years. He also led the securing of major new bank financing and the group’s Covid-19 financial response planning to safely navigate through the pandemic. During his 10 years with Virgin Holidays, Jon led a number of initiatives which saw the company achieve record profits, launch V-ROOM airport lounges, and open over 100 new retail stores, as well as leading its push to replace all major systems."It’s a really exciting time to be joining Collinson. The travel industry is rapidly ramping back up, and now is the time to see what the company can be doing to even further improve travel experiences for its customers,” added Jon. “I’ve always enjoyed working in growing entrepreneurial businesses which have a strong focus both on their clients and their own people. Collinson is truly a people-led business, and I’m looking forward to seeing how we can evolve our propositions to help people really love their journeys again at this time.”

 HP announces new leaders in the Middle East and Africa region:Ertug Ayik is appointed Managing Director of HP business in the Middle East and Africa regions. Ertug joined HP 25 years ago and during his career has held various executive positions covering sales and marketing in company’s computing and printing businesses. In an extremely dynamic, constantly changing, and competitive sector, he has worked on building teams and strategies to embrace technologies both in personal and commercial environments. After being the General Manager of HP in Turkey, he moved to Dubai in 2015 and most recently successfully lead Print Business in the EEMEA region (Eastern Europe, Middle East & Turkey, Africa).Ertug holds a Bachelor’s degree in Electrical & Electronics Engineering and an MBA from Bosphorus University, Turkey.Peter Oganesean is appointed Managing Director of HP Middle East. Peter joined HP in 2005 and since then has been working in different leadership roles out of the UAE. Over the last 10 years Peter acted as Managing Director of HP UAE & East Africa and his most recent role was Head of Print for Middle East, KSA and Turkey.Peter holds a BS in Finance from Academy of Economic Studies of Moldova, he also did an Executive Education program from Stanford University Graduate School of Business in California, US.Both IT veterans are located in Dubai, UAE.

New research, conducted by YouGov and commissioned by Nike Middle East, has been revealed today to understand the perceived benefits of kids in the UAE and KSA playing sports. Ahead of the launch of Nike’s new playbook entitled ‘Five minutes more’, the research aims to underscore the relationship that kids have with sport, and to educate parents on how to ‘plan for play’.The survey, undertaken by 1,010 parents across the UAE and KSA, found 79 percent of parents in the UAE and 62 percent in KSA thought the main benefit of having their children participating in sport was for physical fitness and/or development. The findings show that there is still an age-old perception that sport is only done to remain physically fit, whereas Nike want to demonstrate that there are many transferable skills kids can learn from doing sport.The survey was conducted as part of Nike’s ‘Sport is never done’ campaign, aimed at highlighting lifelong benefits of physical play for kids. As part of this, Nike Middle East has published a playbook called ‘Five Minutes More’, which invites parents and kids to discover the benefits of sport together by combining interactive storytelling with practical advice on how to ‘plan for play’.Parents in the UAE and KSA are aware of some of the benefits of doing sport that Nike aims to highlight in the playbook. It was identified in the same survey that general wellbeing, mental health and social interaction were among the top benefits of having kids participate in sports. The survey also highlighted that 44 percent of parents in the UAE and 36 percent in KSA see that sport allows their kids to learn the feeling of winning and losing, additionally 31 percent in UAE and 29 percent in KSA recognized that sport lets their kids understand the importance of persistence and determination. The playbook aims to bring these skills to the forefront of the conversation with parents.“The survey showed us that there is still a perception that sport is only done to remain physically fit when the reality is that there are so many additional transferrable skills kids can master to help them thrive in their adult lives. We want to raise awareness of sport-related benefits beyond just the physical and draw greater focus on essential soft skill development that equips kids with the tools to be successful. ‘Five minutes more’ was manifested out of passion and a proven belief that collaborative play and interaction between parents and kids accelerates cognitive development in a fun and engaging way,” said Mohamed Bodiat, Senior Vice President Brands, Sports from GMG, Nike's official distributor in the Middle East.‘Five minutes more’, aptly named after a phrase most parents have heard from their children on at least one occasion, showcases the relationships kids have with a variety of sports including skating, climbing, running and breakdancing. The playbook is designed for kids and parents to read together to show parents that their kids can learn courage, creativity, confidence and many more life skills, through participating in sport.The complementary book will be available in hardback from select Nike stores across the region and the digital eBook can be downloaded from 25 October 2022 through www.nikeneverdone.com.

Over the last 12 months, the financial technology (“fintech”) industry in Saudi Arabia has continued to grow at a rapid pace. The recently published Fintech Saudi Annual Report 2021/2022, highlights that the number of fintech companies active in Saudi Arabia rose dramatically by 79% and investment into Saudi fintech companies for the year exceeded SAR 1.50 bn (USD 400m).During 2021 / 2022 we have seen the development of a maturing fintech industry in the Kingdom,” said Nezar Alhaidar, Director of Fintech Saudi. “This year has been a significant year for the development of the Fintech industry in the Kingdom with the launch of the Fintech Strategy, which will drive Saudi Arabia to become a global fintech hub. We are pleased that we are on the way to achieving this target with 147 fintechs now active in the Kingdom.”The report emphasized that over the last year there has been a growth in almost all fintech areas and in particular infrastructure activities as the Kingdom prepares for Open Banking.. In addition to the approval of the Fintech Strategy, there have also been a number of regulatory developments including the approval of a third digital bank, enhancements to the Saudi Central Bank Regulatory Sandbox and the release of the regulatory framework for equity crowdfunding license.Fintech Saudi has also continued to play a pivotal role in supporting the fintech industry with the launch of its co-working space, the Hub, that has become the home of fintech activity in the Kingdom and successful completion of the first accelerator program to support fintech companies with regulatory applications.Moreover, the report anticipated the year 2022/2023 to be another significant period for the fintech industry. with the launch of 3 new digital banks, new regulations released by SAMA and CMA and the implementation of the Fintech Strategy.The Fintech Saudi Annual Report consists of a number of sections including the Fintech Strategy, Innovation in the Capital Market, Digital Banking, and the View from Fintech’s in Saudi.

Abu Dhabi Moments, the exciting series of emirate-wide entertainment and games, will kick off on November 11 to run until Sunday at Khalifa Square at Khalifa City from 4pm till 11pm.The customised experiences have been carefully designed to appeal to all age groups and include stage musical shows with Beauty and the Beast, Aladdin and many more; the bubble shows, balloon twister, magic shows, and pet lovers are invited to enjoy the K9 Dogs shows.There will be roaming entertainment and workshops guaranteed to amuse the little ones, while families can enjoy the mini farm, clay pot making, art shows, community painting, coffee barista, home garden workshop and traditional handcrafts on display.In total, there are more than 60 activities to take part in over the three days of the event.

 International Data Corporation (IDC) believes that one of the most notable outcomes of the pandemic for the technology industry has been the realization of improved results as a direct consequence of partnerships and collaboration, with the events of the last three years opening up even more opportunities for businesses to form multiple partnerships that fill skills gaps, drive innovation, and disrupt entire industries.Against this backdrop, the Middle East's ICT partner ecosystem will be gathering at the UAE's InterContinental Fujairah Resort on November 9-10 for the region's inaugural installment of IDC Alliance. Showcasing the very latest in channel and alliance trends, this unique event will provide an unrivaled platform for ICT vendors and partners to enhance their relationships, explore emerging opportunities, and develop new leads."At a time when end-user organizations across all industries are shifting towards "digital-first" strategies to help build resilience and navigate a changed world, technology vendors, distributors, service providers, and other players are increasingly collaborating and co-creating through connected ecosystems to deliver digital value to customers," says Ranjit Rajan, IDC's vice president of research for the Middle East, Turkey, and Africa. "I'm delighted to be opening the region's first ever IDC Alliance event, where I will be examining the impact of tech ecosystems, partnership models, and partner transformation priorities, and discuss forces that will shape IT channels and alliances for the next 12 months and beyond."The event will feature a dynamic agenda of informative presentations, networking opportunities, and fun activities hosted by senior IDC analysts and executives for a handpicked audience that will include some of the region's biggest names in technology and business.Eng. Raed I. Al-Fayez, deputy governor for information technology and emerging technologies at Saudi Arabia's Communications, Space, and Technology Commission (CST) will present the event's keynote address, 'Developing a Vibrant Digital Ecosystem in Saudi Arabia', while Tejas Patel, managing director of Accenture Strategy and Consulting, will be on hand to outline the key strategic forces that all businesses must harness as the rapid rate of technology innovation continues to gather pace.The agenda will include three dedicated technology tracks headed by senior executives from du, GBM, and Wipro that will serve up first-hand insights on how to successfully build and leverage effective partner ecosystems in the areas of cloud, security, and IoT. And a series of interactive panel discussions will provide strategic guidance on the following topics:Ecosystems of the FutureEmerging Trends: The Future Tech and the MetaverseCelebrating Women Leaders: A Diversity Journey to SuccessAre You Aligned?Sustainable Strategies and Technologies: Operationalization, Impact Measurability, and Business Value CreationThese not-to-be-missed sessions will feature exclusive insights from the IDC Alliance Advisory Council for the Middle East, whose members include:Eng. Raed I. Al-Fayez, Deputy Governor for Information Technology and Emerging Technologies, Saudi Arabia's Communications, Space, and Technology CommissionAmr Refaat, Chief Executive Officer, Gulf Business Machines (GBM)Essam AlShiha, Chief Executive Officer, Saudi Business Machines (SBM)Viswanath Pallasena, Chief Executive Officer, RedingtonHatem Elkady, Chief Partnerships and Synergies Officer, solutions by stcGaby Matar, Executive Vice President, Solutions and Services, MDS System Integration GroupSumanta Roy, Vice President and Regional Head, Middle East, Africa, and Mediterranean, Tata Consultancy ServicesTejas Patel, Managing Director, Accenture Strategy and ConsultingFrancisco Salcedo, General Manager, Enterprise, Middle East and Africa, MicrosoftMaya Zakhour, Channel Sales Director, Eastern Europe, META, Iberia, and Latin America, NetAppTo learn more about the Middle East's inaugural edition of IDC Alliance, please click here. Alternatively, you can contact Sheila Manek at smanek@idc.com   or on +971 4 446 3154. You can also join the conversation on social media using the hashtag #IDCALLIANCE.The Middle East edition of IDC Alliance is supported by Kuwait's Central Agency for Information Technology (CAIT) and a host of other partners, including NetApp / Ingram Micro, VMware / Ingram Micro, Dell / Intel, and Lenovo / Intel as Trailblazer Partners; Riverbed, SentinelOne, SBM, Cloudera, and Aruba, a Hewlett Packard Enterprise company as Game Changer Partners; and GCC Business News, International Business Magazine, Security Middle East Magazine, Tech Magazine, AI Time Journal, IE Industry Events, Smart Money Match, and CoinPedia as Media Partners.

Hub71, Abu Dhabi’s global tech ecosystem, and Al Yah Satellite Communications Company PJSC “Yahsat” (ADX: AEA007501017), the UAE’s flagship satellite solutions provider listed on the Abu Dhabi Securities Exchange (ADX), today announced a collaboration to accelerate startup technology adoption in satellite communications.Through this partnership, Yahsat will work with founders in the Hub71 community to advance technological innovations that support the development of the UAE’s mobile satellite capabilities. The first contract resulting from the new partnership is an agreement between Yahsat and Hub71-based startup, Mental VR, a Virtual Reality (VR) software development company. Mental VR will provide its state-of-the-art VR technology and deliver dynamic and seamless training programs for Yahsat personnel in remote locations.The wider partnership between Yahsat and Hub71 will help identify technology startups that have the potential to advance the UAE’s space industry and strengthen satellite communication technologies. Hub71 and Yahsat are both supported by Mubadala Investment Company and will work collaboratively towards building national capabilities and contributing to the UAE’s economic growth for the next 50 years. As part of the partnership agreement, Yahsat has appointed Hub71 as its Innovation Partner.Hub71 startups will get to work alongside global experts from Yahsat and receive strategic mentorship to gain insights into satellite technologies and the space industry. Startups will also be able to explore commercial opportunities as part of Yahsat’s satellite and technology program.Badr Al-Olama, Acting Chief Executive Officer of Hub71, said: “Our partnership with Yahsat reinforces our commitment to support tech initiatives that create impact for Abu Dhabi. Through this partnership, we will promote economic opportunities and strengthen the UAE's growing position as a leading global hub for technological excellence.”Ali Al Hashemi, Chief Executive Officer of Yahsat, added: “Yahsat is proud to have been a pioneer in the satellite services industry within the UAE, championing the establishment of the nation as a global hub for space tech. Our partnership with Hub71 is aligned with our commitment to build local capabilities and enhance the national space economy through collaborations with the startup ecosystem. As two UAE entities with a foundational base in Abu Dhabi, we look forward to working together to create greater opportunities for the development and enhancement of the satellite services industry.”Since its inception, Hub71 has rapidly expanded its ecosystem, which is now home to almost 200 startups working across 20 sectors. The global tech ecosystem has created a thriving business environment for founders with dedicated programs that promote increased commercial and fundraising opportunities. Hub71 startups have raised AED 3.2 billion from renowned investors globally and generated AED 2.7 billion revenues since 2019.

Waleed Al Malki has been newly promoted to Director of Sales for Hyatt Regency Riyadh Olaya. With his rich experience of the local market and as the property’s Director of Sales – Government Affairs and Protocol, Waleed will help the property find new market niches, improve performance, expand into new feeder areas, generate higher profits and solidify the brand's position in the fierce business market of Riyadh.Waleed joined the hospitality industry in 2003 as a Front Office Agent. He quickly moved up the ladder to the position of Front Office Supervisor in 2006, then as Front Office Manager from 2012 until 2018. He gained experience working at different hospitality chains; namely, Marriott Riyadh, Al Faisalliah, The Ritz Carlton and Nobu Riyadh (pre-opening), before making the move to Hyatt Regency Riyadh Olaya in 2016 as the Front Office Manager.After demonstrating his interest and showcasing his talent in sales, Waleed had the opportunity to join the Hyatt cross-training program to expand his skills, after which he joined the department as the Director of Sales – Government Affairs and Protocol in 2018. In 2022, after consecutively exceeding budget goals, strengthening client relations and retaining their loyalty, and expanding the hotel’s business, he was promoted to the position of Director of Sales. Syed Wali Shah, Commercial Leader for the property, said, “Waleed continually developed strategic action plans and explored new markets and segments that resulted in phenomenal results for the hotel. His hard work, dedication and talent broadened his skillset in-line with the Hyatt focus on KSA market. In addition, Waleed has played a key role in recruiting and training a team of young Saudi talent within the team, in alignment with the Vision 2030’s theme of building a thriving economy and an ambitious nation. We have immense confidence in him to reach new heights with all that Kingdom has to offer with its ever-changing landscape of tourism.”

Ooredoo and Huawei, two leaders in their respective fields in the international information and communications technology (ICT) sector, have teamed up ahead of the FIFA World Cup, to provide network assurance and the best ever customer experience during the FIFA World Cup Qatar 2022TM. Using its global experience of delivering network assurance programmes at international sporting events, along with the latest AR-assisted operations, Huawei will have 100 experts in place across different key locations in Qatar and remotely to ensure the success of the assurance programme during the World Cup. To make sure fans are always connected and will enjoy seamless voice and data services at the most hotly anticipated event of the year, latest generation network equipment has been deployed across seven FIFA stadiums, Qatar Rail metro lines and other major hotspots, to ensure the networks are fine-tuned, issues identified and fixed and comprehensive resilience tests performed. In addition, Ooredoo and Huawei have deployed a state-of-the-art international broadcast network solution, designed to seamlessly carry live broadcasting traffic globally around the clock, with centres installed at three different locations in Qatar to ensure its smooth operation. Ooredoo and Huawei have also launched next generation TV services through their fixed broadband network, which will provide an immersive experience for viewers in the state of Qatar who decide to watch the matches and live coverage from the comfort of their home.  The voice over LTE service experience will be upgraded and the platform enhanced to effectively manage the massively increased subscriber load anticipated during the event, with both companies working to maximise agility and performance, offering customised packages to customers at the click of a button. Additionally, Augmented Reality assisted operations will be used across FIFA stadiums and broadcast networks to ensure an error free experience.Sheikh Mohammed Bin Abdulla Al Thani, Chief Executive Officer, Ooredoo Qatar, said: “This strategic partnership between Ooredoo Qatar and Huawei looks set to be a winning team as the largest single-sport competition in the world comes to Qatar. Ooredoo continues to be committed to upgrading our customers’ world, and with 1.2 million fans expected to convene over the 29 days of the event, our common goal is to deliver transformational digital experiences for all, as well as to the billions watching on TV around the world.”Mr. Li Peng, President of Carrier BG Group, Huawei, said: "Huawei has a rich experience in various international sporting events. For this World Cup, Huawei will use multiple leading technologies in partnership with Ooredoo to contribute to the success of this exceptional event taking place in Qatar.”This is the latest in a series of strategic partnerships with key global technology players signed by the company to ensure an unrivalled World Cup experience for everyone.

 Sheikh Maktoum bin Mohammed bin Rashid Al Maktoum, Deputy Ruler of Dubai, Deputy Prime Minister and Minister of Finance of the UAE, and President of DIFC, has announced the launch of the Dubai FinTech Summit, a global event that will bring together more than 5,000 experts, thought leaders, policymakers and decision-makers in Dubai to discuss how they can shape a new wave of innovation, enterprise and growth for the international financial industry.To be organised by the Dubai International Financial Centre (DIFC), Dubai FinTech Summit will take place on 8 and 9 May 2023 in Dubai. The event will see some of the world's biggest personalities in the industry delivering keynote presentations, sharing their perspectives on industry challenges and identifying opportunities to maximise the impact of FinTech for people, businesses and economies.Home to the region's largest cluster of FinTech and Innovation businesses, DIFC is one of the brightest growth spots in the global FinTech market valued at more than $135.9 billion in 2021. The global market is expected to grow at a CAGR of 11.9% between 2022-2027 to reach a value of over $266.9 billion by 2027.1 Essa Kazim, Governor of DIFC, said: "The Dubai FinTech Summit will bring together ideas, knowledge and perspectives that can help unlock a new phase of exponential growth for the global financial sector and FinTech in the Global Economy. DIFC will leverage the platform offered by the Summit to bring together banks, FinTechs and regulators from across the world to further stimulate the digital advancement of the financial sector.We already have over 600 FinTech and innovation firms in DIFC who are changing the face of the industry and contributing to the economic growth of our country. The 23% expansion that DIFC's FinTech community saw in the first half of this year is a testament to the dynamic growth-friendly platform that we offer financial companies from across the world."The Summit's programme will feature in-depth discussions across key tracks including the future of FinTech, embedded and Open Finance, sustainability, Web 3.0 and digital assets. The Summit will also provide an opportunity for more than 100 FinTechs and Future of Finance players to display their latest technology and innovations.

Rixos Bab Al Bahr has announced Lizan Gray is the new Marketing Manager of its Ultra-All Inclusive, five-star resort in Ras Al Khaimah.With nearly a decade of marketing and communications experience, Gray will oversee the operations of Rixos Bab Al Bahr’s marketing department with an immediate tie in to sales. Reporting directly to Horst Walther-Jones, the General Manager at Rixos Bab Al Bahr, Gray has been tasked with repositioning the resort as an award-winning family destination and elevating the guest experience through innovative new offerings and services. In addition, she will actively promote the property to the European, UK, CIS and GCC markets as an affordable way to experience luxury. Gray will also be supporting the resort’s CSR initiatives, finding new and innovative ways to give back to the community.Walther-Jones commented: “We were delighted with Lizan’s in-depth knowledge of the media landscape and quick grasp of hotel operations, so her appointment was very easy for us. Our property has 715 keys and brand-new leadership under Aldar. With multiple upgrades and exciting expansion plans in the framework, we are delighted to have Lizan at the helm of communicating these changes and driving our marketing initiatives.”Gray has extensive experience in the United Arab Emirates, having worked with numerous high-profile companies and individuals during her tenure in the country. In her last role, Gray was an Account Manager for A Communications, a 360-degree marketing agency, where she managed numerous hospitality clients across the Middle East region, as well as high-level foreign ministries from Asia, the Middle East and Europe. Prior to that, Gray was an Editorial And Events Coordinator at Forbes Middle East and talent manager at Curveball Events and Talent Management, where she worked closely with popular radio presenter, Kris Fade. In 2015, she completed her Bachelor's Degree in Communications Management from the University of Pretoria.Gray added: “Rixos Bab Al Bahr is already a well-oiled machine when it comes to marketing, with a range of exciting offerings and activities available to guests. Our iconic property is truly the ultimate destination in Ras Al Khaimah and I am looking forward to strategically expanding our presence both regionally and internationally.”

The latest in a series of quarterly economic reports released by Majid Al Futtaim, the leading shopping mall, communities, retail and leisure pioneer across the Middle East, Africa and Asia, reveals the UAE economy is on track to record its strongest annual GDP growth since 2011 – with Oxford Economics predicting growth of 6.8% for 2022 – a significant increase in the recorded actual growth of 3.8% in 2021.According to the Q3 2022 State of the UAE Retail Economy report, the oil and non-oil sectors both played essential roles – with the biggest GDP driver being the oil sector, which saw a 13.4% increase driven by crude oil prices hovering around USD 100 per barrel for most of the third quarter. The non-oil economy also demonstrated robust growth, buoyed by the Government’s moves to create an investor-friendly environment, with a strong focus on both digital and creative industries, the results of which are reflected in the S&P Global UAE Purchasing Managers’ Index – which hit a three-year high in August.While inflation remains top of mind for many consumers, there has been a decrease in the level of concern over the quarter, with 92% of residents still expressing some concern but saying they are adjusting to the new norm by practising caution in their purchasing. This is evidenced by the economic data showing that increasing results are being achieved across all key sectors of the economy.The sharp rise of e-commerce continues, with sales projected to rise by 22% this year, exceeding USD 6 billion and putting the market on track to reach USD 9.2 billion by 2026. Spending in this area increased 34% in January-September compared with the same period a year earlier, with sales now accounting for 11% of total retail economy sales. The UAE’s strong economic indicators and investment-focused policy updates continue to attract international interest, while the ESG agenda continues to increase in public and private sectors' strategic viewpoints. The introduction of the new laws has seen plastic bag usage at Majid Al Futtaim retail outlets fall by 85% in the first three months, despite a 10% increase in customer visits. Reaching net zero by 2050 will put the UAE ahead of nearly every other nation in the region. The outcome is a robust and resilient retail economy, and a real estate market has defied global economic gravity.Alain Bejjani, Chief Executive Officer at Majid Al Futtaim – Holding, said: “Another strong quarter for the UAE retail economy showcases notable sector-wide resilience and reinforces the country’s steady march towards a return to sustainable growth. The continuation of forward-thinking government initiatives underpinning this progress is making the UAE highly attractive to international businesses – as are the Government’s steps to become a sustainability leader in the MENA region. With all indicators pointing to a strong fourth quarter this year, and the lifting of COVID-19 restrictions, the UAE has put the pandemic-related turbulence firmly in the rear-view. We only need to consider the ongoing opportunity, security, and safety this nation offers to see why the world continues to flock to the region to build their future here.”Travel and tourism visitors have returned and are now spending more than before the pandemic-induced turbulence. As restrictions continue to ease, the pent-up demand for travel has been unleashed – with Dubai experiencing a 182% year-on-year rise in international visitors between January to August. Hotels have been a big beneficiary of increasing tourist arrivals, with the number of occupied room nights rising by 28% on the year in January to August and 17% above pre-COVID-19 levels from 2019, at just under 24 million.The research also indicates that business continues to boom for the UAE real estate market, with Dubai recording the most robust performance between January and September since 2011. Transactions saw a 60% jump compared with a year earlier and a 14% rise in the quarter to 25,500, climbing by 77% to AED 184 billion this year, setting new records for both metrics.Majid Al Futtaim’s Consumer and Business Insights (CBI) Initiative authored the report, drawingon The Happiness Lab – Majid Al Futtaim’s market research online community in three main markets (the UAE, Saudi Arabia and Egypt), in addition to over 797 million point-of-sale (POS) transactions totalling more than AED 182 billion from over five million shoppers from multiple sources (Majid Al Futtaim’s own data and POS data), and reports by respected third-party analysts and organisations.Please visit the link below for an explanation of the methodology and sources relating to the data quoted and to read the State of the UAE Retail Economy report for Q3 2022.

Qatar Tourism has issued more than 2,500 Holiday Homes licenses for over 6,000 rooms since the launch of the initiative last year, adding to the variety of accommodation options that will be available to visitors during the FIFA World Cup Qatar 2022™.The Holiday Homes license ensures that short-term property rentals are regulated to promote a safe and enjoyable experience for those who visit Qatar. Qatar Tourism reviews the quality standards, amenities, health and safety, accessibility criteria, code of conduct and environmental sustainability of properties prior to licensing them for short-term rental. Owners renting to vacationers without a valid license will be fined 200,000 QAR.Commenting on this achievement, Mohammed Al-Ansari, Director of Tourist Licensing at Qatar Tourism, said: “Through the Holiday Homes initiative, Qatar Tourism seeks to contribute to the development of the hospitality sector in the country and ensure diverse offerings are available that suit the needs and budgets of all visitors. We are proud to have licensed more than 6,000 Holiday Homes rooms ahead of the FIFA World Cup Qatar 2022™, to provide visitors with peace of mind and allow them to explore Qatar’s varied offerings while enjoying unparalleled hospitality.”To date, a total of 1,800 apartments and 700 villas have been licensed across several areas mainly in The Pearl-Qatar and Lusail City. More than 100 residential units are suitable for people with special needs, and more than 600 residential units are available for families with more than 4 members.Qatar Tourism will continue to monitor the Guest Experience Index (GEI) available on more than 130 global guest reviews platforms to ensure Holiday Homes owners are providing authentic experiences rooted in service excellence to visitors.

Award-winning UAE-born burger brand Pickl is set to launch its first international franchise in the Kingdom of Bahrain. Zayani Foods, the food and beverages arm of Al Zayani Investments Group, has been chosen as the franchise partner and will open the first Pickl branch in the country in December 2022.Founded by Steve Flawith and Nabil Al Rantisi, Pickl launched in Dubai in 2019 and has rapidly grown with 10 locations operating across the UAE. It offers a trifecta menu of grain-fed beef, fresh fried chicken, and plant-based burgers all free from preservatives, hormones, and antibiotics. The brand has been well received by the public and food critics alike, and was crowned Best Burger at the Time Out Dubai Restaurant Awards 2022 and Best Fried Chicken and Restaurant of the Year at the Deliveroo Restaurant Awards 2022. Zayani Foods is looking to replicate that success when bringing Pickl to Bahrain. Chairman of Al Zayani Investments and Zayani Foods Mr. Nawaf Khalid Al Zayani commented: “This is a great opportunity for Zayani Foods to expand its food offering, drawing on our experience of operating the globally recognised brand Costa Coffee since 2019 in the Kingdom of Bahrain. We are honoured to collaborate with the award-winning burger chain, Pickl, and launch its first restaurant outside the UAE. We are looking forward to this exciting new chapter and delight our customers with the multitude of choices and flavours in this segment of the market.” Pickl’s Chief Commercial Officer Ash Griffiths, who worked closely with Zayani Foods to finalise the partnership, stated: “From day one, we have been impressed by the passion and drive demonstrated by Zayani Foods and feel certain that Pickl will be a huge success in Bahrain thanks to their immense expertise.” For his part, Pickl Founder and CEO Steve Flawith said: “Early on, we identified Bahrain as a perfect location for Pickl, given its highly competitive Quick Service Restaurant sector. Bahrain’s residents have the same passion for quality burgers as we do, and we’re sure that Pickl will offer them a premium and fresh fast food experience unlike anything they’ve had before.”Lastly, Zayani Foods Managing Director Mr. Rashed Hamed Al Zayani further added: “We are excited to bring the award-winning burger chain to Bahrain with the first location in the Seef District, offering the Pickl trifecta which includes beef, fresh fried chicken and plant-based burgers”Pickl’s famous fresh fried chicken is available in five spice levels and its range of customisable cheese burgers includes the plant-based “Impossible Cheese Burger” which is suitable for vegetarians. “Impossible” uses 96% less land, 87% less water and 89% fewer greenhouse gases than beef but has the same irresistible taste. Since its launch, Bahraini residents who tried the burger brand when visiting the UAE have eagerly demanded opening the chain in the country, revealed Pickl’s social media team.The introduction of Pickl to Bahrain is the first step in a wide-ranging international franchise campaign that will see the opening of 200 stores in the next five years across the globe.Any Bahraini citizen or resident who find themselves in the UAE starting November 4 are gladly invited to sample Pickl burgers for free in an enticing offer effective until the launch date of Pickl Bahrain by showing their valid CPR at any Pickl restaurant. One per person. Ts&Cs apply.

Alshaya Group (Alshaya), one of the world's leading international franchise operators, has officially launched Aura, its brand-new customer loyalty programme, in the Kingdom of Saudi Arabia. The innovative new scheme lets customers redeem points and unlock benefits across a uniquely wide choice of over 70 brands, with points earned both in-store and online. The launch in KSA follows the successful launch of the programme in Qatar, Kuwait and UAE earlier this year, with the number of members already reaching over 1.5 million so far.  John Hadden, Chief Executive Officer, Alshaya Group said: “We’re proud and extremely excited to bring our new, world-class loyalty programme to our customers in the KSA, one of our largest markets. Aura is an exciting new way for us to thank them for their loyalty and let them know that they are special.  “We offer our customers the widest choice of brands and experiences to suit their different preferences. Celebrating our customers’ individuality, and rewarding them, is what Aura is all about. By bringing together all of Alshaya’s well-loved international brands into one programme, we can unlock a personalised world of rewards, experiences and benefits that is unmatched.”  Aura members can earn and redeem points across their favourite brands, access a range of personalised shopping, dining, and lifestyle experiences, and receive priority notification of promotions and sales events across a portfolio that includes H&M, American Eagle, Mothercare, Victoria’s Secret, The Cheesecake Factory, P.F. Chang’s, Shake Shack, Bath & Body Works, Boots, M·A·C, Pottery Barn, and West Elm. Members also get the chance to earn points through the brands e-commerce sites.  Aura membership is open to everyone aged 18 and above. It is free, quick, and easy to join, and members can use the Aura MENA app to track their benefits and access their rewards. Joining is as simple as downloading the app from the App Store or Google Play or registering for Aura in any participating Alshaya store or restaurant. From fashion to beauty, home furnishings to dining, members collect points every time they spend. Points can be used for future purchases or to access experiences such as a personalised gourmet treat, a bespoke shopping experience or a pampering beauty treatment. For every SAR 10 spent, 10 points are earned on spend across all Alshaya stores and restaurants (excluding Starbucks). The more customers shop with Alshaya brands the more benefits they can unlock. With so many brands in the Aura programme, members can enjoy unmatched opportunities to earn points. Aura Hello is the entry point membership and is for holders of 1 to 5,999 tier points  Aura Star is for holders of 6,000 to 23,999 tier points. Star members will earn points faster: 1.5 x than Hello Aura VIP, the top tier of Aura, starts with 24,000 tier points, gives access to VIP membership benefits, and earns points even faster: 2 x that of Hello Plans are already underway to launch Aura in all Alshaya markets in the GCC and beyond. Aura members will be able to earn and redeem rewards wherever they shop across the GCC, as each of these markets is included in the Aura programme.