The Business Extra podcast team will be at the World Economic Forum in Davos next week. Host Mustafa Alrawi will be on the ground to deliver insights and discussions from the global event.
The global aviation industry will return to profit for the first time since 2019 as passenger demand continues to improve and Covid-19 related restrictions ease. In the Middle East, airlines are also set to benefit from higher oil prices. The optimistic forecast will depend on the impact of headwinds such as high jet fuel prices and reduced consumer spending amid an economic downturn. After the conclusion of the International Air Transport Association conference in Geneva, Deena Kamel , The Nati...
From what it takes to succeed to managing the energy crisis and what next for Bitcoin, the past 12 months have been dynamic for companies, businesses and executives. Host Mustafa Alrawi reminds us of the highlights from Business Extra's coverage of this year's biggest themes and stories. In this episode: Amos Hochstein — Lessons learnt from being dependant on one energy supplier (1m 57s) Zada Haj — Importance of food security (6m 12s) Suzanne Duke — Perspective on the gender gap (13m 33s) Kim Fo...
Majid Jafar, the vice-chairman of Crescent Group and chief executive of Crescent Petroleum, said a crisis is playing out “across the entire world and all forms of energy. And that's never happened before”. He tells host Mustafa Alrawi while short term issues like Ukraine, Covid-19 and stretched supply chains and China consuming more gas, have made the situation worse, a failure to invest in energy supply has chiefly created the crisis. In this episode: The energy transition and the impact on sup...
Technology is enabling a new cycle of fundamental change according to Sam Tayan, Head of Mena at Zoom Video Communications. From hybrid work, to work from anywhere, to the four-day work weeks being trialed by companies around the world, there are shifting paradigms for how best to be productive and efficient following the Covid-19 pandemic. Mr Tayan tells host Mustafa Alrawi the software and solutions supporting this change will also impact how healthcare and other services are delivered. In thi...
A potential economic windfall awaits the Middle East and North Africa region if countries can close the gender gap and help more women into business. The International Finance Corporation's "She Wins Arabia" supports female-led start-ups across the Middle East and North Africa with finance and mentorship. The second round of the initiative was launched last month and it is expanding to support 100 additional women-led startups and over 30 additional fund managers across Mena. The number of count...
From making the metaverse happen to improving the sustainability of networks, 5G mobile communications technology underpins the critical infrastructure needed to deliver the applications and solutions of the future. Manish Vyas, President of the Communications, Media & Entertainment Business and CEO of Networks Services at Indian IT services company Tech Mahindra, speaks to host Mustafa Alrawi about the role of 5G in our lives. In this episode: The future of telecommunications and the vision...
Deepak Chopra, founder of health company Chopra Global and the Chopra Foundation, is a doctor, entrepreneur and philanthropist with more than 30 years on the front lines of well-being. He talks to host Mustafa Alrawi about how the metaverse can close the global health gap, what business leaders need to know to succeed today and how to handle the critics. In this episode: Deepak Chopra on success (0m 11s) What is the meaning of leadership? (6m 00s) The effects of technology and money (10m 37s) En...
In the aftermath of the financial crisis, technological shifts, the Covid-19 pandemic and climate change, governments have been working to deliver more effective economic policies and looking to understand how to best implement them. The study of human behaviour has, as a result, become more critical in areas such as education, health and jobs. Nikos Nikiforakis , professor of economics and co-director of the Centre for Behavioral Institutional Design (C-BID) at NYU Abu Dhabi, talks to host Must...
Amos Hochstein, the US special envoy and presidential co-ordinator for international energy affairs on Tuesday signed in Abu Dhabi — on behalf of the US — a strategic partnership with the UAE to invest $100 billion to produce 100 gigawatts of clean energy by 2035. At the oil and gas conference and exhibition Adipec, Mr Hochstein spoke to Business Extra host Mustafa Alrawi about the energy transition, how countries such as his can shape the future and also how he has been working for the past dec...
The global picture is one of high energy prices, rising interest rates and an impending economic slowdown. Despite all of this, the Middle East North Africa region has proven resilient in 2022, according to the International Monetary Fund. However, the impact of taming inflation will be felt as we enter 2023. Jihad Azour, the IMF Director of the Middle East and Central Asia Department, talks to host Mustafa Alrawi about the many risks to the outlook and what economies in the Gulf and wider Mena ...
New British Prime Minister Rishi Sunak must tackle what he has called a “profound economic crisis”. He vowed the priority of the government would be to “reduce inflation" , describing it as “indeed the enemy”. Under Mr Sunak's predecessor Liz Truss , the UK government attempted to prioritise populist measures such as tax cuts without reducing spending. This triggered a violent reaction from the bond market. It resulted in Ms Truss stepping down and a third leader for the country this year. Inves...
Brent crude prices are above $90 a barrel as recession worries and the impact on oil demand weigh against other factors, including US policy moves . Following friction between the Biden administration and Opec+ producers over their decision to reduce output, politics has taken over the discourse around energy markets. With the Ukraine conflict still without a solution and climate action critical, how will shorter-term considerations play out over the weeks and months to come? Regular The Nationa...
The head of the IMF, Kristalina Georgieva, this week starkly warned of the possibility of a global recession during the organisation’s annual meeting in Washington DC. “We cannot possibly allow inflation to become a runaway train - it’s bad for growth and bad for people,” she said. “Bad especially for poor people.” The National's Editor-in-Chief Mina Al-Oraibi and US correspondent Willy Lowry discuss the IMF's reduced growth projections for the year ahead - and ask: what does it mean for the Mid...
Alix Partners, the global consulting firm, has launched a Middle East Disruption Index to examine the impact of trends such as climate change, technological advances and geopolitics on businesses and trade in the region. The survey showed 78 per cent of chief executives in the UAE and Saudi Arabia are confident in their company’s ability to withstand disruptive forces. However, there is also a lot of uncertainty with two thirds afraid that the disruption will ultimately displace them. Concerns o...
A growing arts scene in the Middle East and North Africa over the past decade has both supported economic diversification and also been a sign of its success. Following the Covid-19 pandemic and amid concerns about the outlook for the region, can arts and culture maintain its momentum? Dr Ridha Moumni, Christie’s Middle East deputy chairman, talks to host Mustafa Alrawi about the auction house's role in growing the sector in the region and beyond. In this episode: The influence of arts and cultu...
With the world facing an energy 'trilemma' as it makes the push towards net zero carbon emission to help mitigate global warming, a bottom-up approach is needed to match the efforts of government and business. That's according to Dr Angela Wilkinson , the Secretary General of the World Energy Council, who joins host Mustafa Alrawi to discuss all aspects of the energy transition....
The National's London Bureau Chief Damien McElroy explains why the crisis has come about and discusses which direction the country might head next under such pressure, with host Mustafa Alrawi, including the possibility of a radical shake up of the social contract. In this episode: The cost of living and the energy crisis in the UK (0m 15s) The 'Brexit discount' and UK's readjustment (6m 58s) Is politics a solution? (9m 22s) UK government's help for individual and businesses (15m 01s) Knock on e...
More than 3,000 workers at 70 companies in the UK began a six-month trial of a four-day working week in June. Researchers will work with each organisation to measure the effects on productivity and the well-being of its workers, and on the environment and gender equality. The trend toward new patterns of work has accelerated following the Covid-19 pandemic. Charlotte Lockhart and Andrew Barnes, from non-profit 4 Day Week Global, talk to hosts Mustafa Alrawi and Kelsey Warner about how they are b...
Automation and robotics are becoming mainstream and have emerged from beyond heavy industry in recent years. They can be found across sectors such as health care, tourism, retail, F&B and mobility. Investment and research into the field has also picked up including here in the UAE where Mohamed bin Zayed University of Artificial Intelligence, or MBZUAI, is supporting local ambitions. Robots were also on hand to help visitors at Expo 2020 Dubai. Prof Takeo Kanade of Carnegie Mellon University...
The Global Gender Gap Report 2022 — released by the World Economic Forum last month — said countries will take another 132 years, compared to 136 in 2021, to close the gap between men and women in the workforce. In Mena, this figure stands at 115 years. Overall, the gap has widened compared to before the pandemic and the lack of equity for women, particularly in management roles, has become a crisis. With the challenges facing business such as climate change, inflation and technological shifts, ...
A number of countries across the Gulf and Middle East and North Africa, including the UAE, are stepping up investments in companies and initiatives that develop local food supply chains. Dana, which supports desert-tech and agri-tech startups with at least one woman founder, has agreed a deal with Masdar City to set up an R&D beta facility in Abu Dhabi. Chief Executive of Dana, Zada Haj, talks to co-hosts Kelsey Warner and Mustafa Alrawi about the importance of building up the sector amid gr...
The promise of the Metaverse and Web 3.0 technologies has been quantified in the UAE through the Dubai government's strategy to create 40,000 jobs and add $4 billion to the emirate's economy in the next five years from the digital transformation. Abdulaziz AlJaziri, Deputy CEO and Chief Operations Officer at Dubai Future Foundation, talks to host Mustafa Alrawi about the opportunities and the road ahead as the country embraces the new immersive era of the internet. In this episode: Dubai's ambit...
Careem became the Middle East's first unicorn, a start-up with a valuation of at least $1 billion, in 2016 and three years later was bought by Uber for $3.1bn. The deal allowed the company to continue to operate independently, and today, its co-founder and chief executive Mudassir Sheikha says it was only the beginning: he plans to stay with Careem as it reaches for 'decacorn' status — a company valued at $10bn. As Careem celebrates its 10-year anniversary this week, Mr Sheikha is seeking new fu...
Delays, cancellations, lost luggage and labour shortages. These are but some of the issues facing airlines in Europe and the US as the summer travel season picks up pace. Aviation correspondent Deena Kamel joins co-hosts Mustafa Alrawi and Kelsey Warner this week. They discuss how Gulf carriers like Etihad and Emirates managed to avert the travel chaos burdening the industry, what effect surging demand is having on airfares and balance sheets, and the outlook for aviation through to the end of t...
Sharia-compliant insurers Dar Al Takaful and Watania , on Tuesday, completed their merger to create the UAE's largest insurance provider after securing the approval of regulatory authorities and shareholders of the two companies. Gautam Datta, chief executive of Dar Al Takaful talks to hosts Mustafa Alrawi and Kelsey Warner about the merger and how it happened. He also discusses the challenges and opportunities for the sector after the Covid-19 pandemic and amid inflationary pressures. In this e...
Oil prices inched higher this week as big producers hinted at capacity limits and an effort to cap Russian oil prices by western governments began. Meanwhile, the global economy is “teetering on the brink of recession”, according to the International Institute of Finance, as the war in Ukraine , the continuing Covid-19 lockdowns in China and a hawkish US Federal Reserve weigh on activity. In an action-packed week in which the G7 summit is concluding while Opec+ prepares to meet and US President ...
Electric car sales have surged this year after breaking a record last year, according to a report by the International Energy Agency. The transport sector's electrification is a fast-growing trend amid the global push to net zero carbon emissions. However, for EVs, rising prices of critical minerals required for battery manufacturing and supply chain disruptions, present obstacles to meeting these ambitions. Orral Nadjari, chief executive and founder of Glencore-backed battery maker Britishvolt,...
Recent data shows strong business activity growth in both the UAE and Saudi Arabia. This is expected amid pandemic recovery and higher oil prices, according to Khatija Haque, chief economist and head of research at Emirates NBD. But global market forces are also at play. She joins co-hosts Mustafa Alrawi and Kelsey Warner this week, sharing her outlook on how GCC economies will fair against rising inflation and global recession fears — and why growth is still possible even in this environment. I...
Investment banks have faced unprecedented times before, but market dynamics and the volume of data in play in 2022 makes this a time like no other. That's according to Kim Fournais, who founded Denmark firm Saxo Bank in 1992. The CEO joins co-hosts Mustafa Alrawi and Kelsey Warner to discuss how using technology and pushing East to new markets is helping the 30 year-old firm ride out the latest wave of geopolitics, inflation and new unregulated assets like cryptocurrencies. In this episode: The ...
