أعد اتحاد الغرف الخليجية تقريرا يوصي بإيجاد آلية بين القطاعين العام والخاص للرصد والمتابعة على مستوى كل دولة من دول مجلس التعاون الخليجي. ويوضح أهم مصادر التأثير الاقتصادي العالمي على القطاع الخاص الخليجي في ظل أزمة كورونا.
اتحاد الغرف الخليجية -17مايو 2020: خلص تقرير أعدته الأمانة العامة لاتحاد غرف دول مجلس التعاون الخليجي حول "تداعيات تفشي وباء كورونا على انشطة القطاع الخاص الخليجي" أن الحكومات الخليجية بادرت إلى اتخاذ حزمة من إجراءات الدعم المالي والاقتصادي الفاعلة والتي واكبت في أهدافها ونطاقها كافة الحزم الاحتوائية والانقادية التي أعلنت عنها دول العالم، وخاصة الدول المتقدمة، مما أسهم بشكل فاعل في حماية الاقتصاد، والعمالة وانشطة القطاع الخاص، ولاسيما أصحاب المهن والمؤسسات الصغيرة والمتوسطة من تداعيات تفشي الوباء إلى حد كبير خلال الفترة الراهنة.
ولفت التقرير إلى أن تفشي وباء كورونا له انعكاسات تختلف عن التداعيات التي تنجم عادة عن الأزمات المالية والاقتصادية التي شهدها العالم خلال العقود الماضية، وكان آخرها الأزمة العالمية عام 2008م، من حيث اتساع رقعت تأثيرها وطبيعة هذا التأثير وطول أمده مما يتوجب معه عدم اكتفاء الحكومات في العالم، بما في ذلك الحكومات الخليجية، بما تم اتخاذه حتى الآن. لذلك، قد يستدعي الأمر التدخل بمزيد من التدابير التي تفرضها طبيعة التداعيات الخاصة من جراء الوباء. كما أن الإجراءات المتخذة في الوقت الحاضر قد تتطلب المراجعة والتحديث والتطوير في كل مرحلة من مراحل الوباء.
لذلك، فقد أوصى التقرير بإيجاد آلية منسقة بين القطاعين العام والخاص للرصد والمتابعة على كل من مستوى كل دولة خليجية وعلى مستوى مجلس التعاون الخليجي ككل تنصب أهدافها على العمل و مراجعة كافة الإجراءات والخطوات المتخذة لدعم منشآت القطاع الخاص بصورة مستمرة والتقدم بالتوصيات اللازمة للعمل على تحديثها وتطويرها وفقا لمراحل انتشار الفايروس وتداعياته. كذلك وضع المقترحات لمرحلة الخروج من مرحلة مكافحة الفايروس إلى مرحلة الانعاش لمنشآت القطاع الخاص وما هي الإجراءات المطلوبة وفقا لنوع النشاط وحجم المنشأة.
وقد تناولت مقدمة التقرير تداعيات فايروس كورونا على الاقتصاد العالمي، حيث من المتوقع أن يشهد الاقتصاد العالمي انكماشا حادا بواقع -3% في عام 2020م، وهو أسوأ بكثير مما ترتب على الأزمة المالية العالمية في 2008م – 2009م. وفي أحد السيناريوهات الأساسية، الذي يفترض انحسار الجائحة في النصف الثاني من عام 2020م وإمكانية تخفيف جهود الاحتواء بالتدريج، من المتوقع أن ينمو الاقتصاد العالمي بمعدل 5,8% في 2021م مع عودة النشاط الاقتصادي إلى طبيعته، بمساعدة الدعم المقدم من متخذي السياسات الاقتصادية.
كما كرس التقرير فصل خاص لدراسة تداعيات تفشي وباء كورونا على الاقتصاديات الخليجية، حيث تبين آخر التقديرات الدولية إلى تعرض دول مجلس التعاون، كغيرها من بلدان العالم، إلى اضطراب اقتصادي كبير من خلال صدمات العرض والطلب المتزامنة. ومما فاقم من الآثار السلبية هو هبوط أسعار النفط بأكثر من 60% خاصة بعد عدم اتفاق اوبك بلس على تخفيض الإنتاج في بداية الأزمة. ويتوقع صندوق النقد الدولي أن يكون الأثر الاقتصادي لتفشي وباء كورونا بالغا على اقتصاديات دول التعاون، حيث ستشهد انكماشا بنسبة 2.7% في العام 2020م. كما سوف تتعرض دول التعاون لصدمة مزدوجة تتمثل في انخفاض الطلب العالمي على النفط وانخفاض أسعاره، حيث يتوقع الصندوق تراجع الصادرات النفطية بأكثر من 250 مليار دولار في أنحاء المنطقة. ونتيجة لذلك، من المتوقع أن تتحول أرصدة المالية العامة إلى السالب، متجاوزة 10% من إجمالي الناتج المحلي في معظم البلدان.
في المرحلة القادمة، وبعد الانحسار التدريجي للوباء، ينبغي أن يتمثل الهدف المنشود في وضع الاقتصاد الخليجي على مسار تحقيق النمو المستدام: وسيتطلب هذا استعادة الثقة، عن طريق توفير دعم واسع النطاق على مستوى المالية العامة والسياسة النقدية حيثما توافر الحيز اللازم. كما لا ينبغي إلغاء هذا الدعم إلا إذا كان الاقتصاد ماضيا بالفعل على مسار التعافي. ويدعم قدرة دول التعاون في تطبيق خطط انعاشية شاملة بعد انحسار وباء كورونا امتلاكها احتياطيات مالية تقدر بنحو تريليوني دولار.
ثم انتقل التقرير لتحليل تداعيات تفشي مرض كورونا على القطاع الخاص الخليجي، حيث تناول في البداية أهم مؤشرات دور القطاع الخاص في التنمية على صعيد الناتج المحلي الاجمالي والانفاق القومي والصادرات السلعية والتوظيف، حيث يتضح أن الاقتصاد الخليجي وخاصة خلال السنوات الماضية بعد تراجع أسعار النفط بات يعتمد بصورة متزايدة على القطاعات غير النفطية كمحرك للنمو، حيث يبلغ متوسط مساهمتها في الناتج الإجمالي نحو 73.6% عام 2018م، وهي تعكس نجاح خطط الحكومات الخليجية في برامج التنويع الاقتصادي والمشاركة المتزايدة للقطاع الخاص في التنمية. وما قبل أزمة كورونا، كان القطاع الخاص الخليجي يسعى للعب دور أكبر في المرحلة المقبلة في ظل التوجهات الحالية للحكومات الخليجية الرامية إلى تفعيل الشراكة الحقيقية بين القطاعين العام والخاص لتنفيذ البرامج التنموية والاقتصادية استنادا إلى رؤى التنمية الطويلة الأجل التي تنفذها.
ثم تناول التقرير بالتحليل مصادر التأثير الاقتصادي العالمية على القطاع الخاص الخليجي في ظل أزمة كورونا، واهمها أسعار النفط وتراجع النشاط الاقتصادي العالمي والتجارة العالمية وحجم العلاقة مع الصين و بيئة الاستثمار وفرص الأعمال والبورصات العالمية وسلسلة إمدادات السلع والخدمات وأسعار الفائدة والدولار الأمريكي، حيث اتضح من عرض هذه العوامل أن مصادر التأثير العالمية على انشطة القطاع الخاص الخليجي ترتبط ارتباطا وثيقا بالاقتصاد الخليجي ككل، الذي يعتمد اعتمادا كبيرا على الإيرادات النفطية، وتجارته مع العالم، وخاصة الصين، وكذلك ارتباط عملاته بالدولار الأمريكي وبسعر الفائدة الأمريكية، مما يولد عليه نفس الضغوط التي يتعرض لها الاقتصاد الخليجي ككل.
كما عرض التقرير بصورة مفصلة المبادرات التي اتخذتها الحكومات الخليجية لدعم الاقتصاديات الخليجية والعمالة، وانشطة القطاع الخاص، ولا سيما الأنشطة الأكثر تضررا، مشيدة بشمولية هذه المبادرات ومساهماتها الفاعلة في حماية القطاع الخاص بصورة كبيرة من تداعيات تفشي وباء كورونا، وتوفير حماية كبيرة للعمالة، ومكنت القطاع الخاص من مواصلة تقديم خدماته الأساسية، وهو بدوره ساهم في استدامة حماية المجتمع من تداعيات تفشي الوباء.
وقد كرس التقرير جانب كبير منه لتحليل تداعيات تفشي وباء كورونا على أنشطة القطاع الخاص، حيث تناول كل على حدة 15 قطاع ونشاط هي الصناعة والاستيراد والتصدير والبنوك والمؤسسات المالية والبورصات الخليجية والسفر والسياحة والمؤتمرات والفنادق والغذاء والخدمات اللوجستية والعقار والتطوير العقاري والتوظيف والعمالة الوافدة والتجارة الالكترونية وتجارة التجزئة وقطاع الخدمات والرعاية الصحية وقطاع التعليم الخاص وصناعة الترفيه المنزلي، حيث خرج التقرير بنتائج أولية أن معظم أنشطة القطاع الخاص تأثرت سلبا بتفشي هذا الوباء، وهذه مسألة طبيعية، وذلك بسبب توقف عجلة الإنتاج والخدمات على مختلف أنواعها بسبب إجراءات الحظر الاجتماعي والاقتصادي، حيث اعطيت الأولوية للحفاظ على أرواح البشر. لكن من اللافت أيضا أن تفشي الوباء خلق أنماط مختلفة من السلوك الاستهلاكي لدى الفرد، كما حفز الطلب على خدمات معينة واكبت نمط الاستهلاك ونمط حياة التباعد الاجتماعي، مما جعل بعض الأنشطة تستفيد من الأزمة مثل التجارة الالكترونية والتسوق عبر البوابات الالكترونية وتجارة الأغذية والتعليم عن بعد وتقديم الخدمات الصحية عن بعد وكذلك صناعات المعقمات والرعاية الصحية والأدوية وصناعة الترفيه العائلي.
ونوه التقرير إلى أن القطاع الخاص الخليجي بات يواجه في الوقت الراهن تحديات غير مسبوقة في تاريخه ويجب التصدي لها ومعالجتها بدرجة عالية من المسئولية والشمولية وبما يحافظ على محورية دوره في الاستدامة الاقتصادية، وأن أي ضرر يلحق بهذا الدور سيولد أضرار كثيرة للاقتصاد الخليجي ككل. لذلك لا بد من متابعة دراسة تداعيات تفشي وباء كورونا على القطاع الخاص الخليجي خلال المرحلة المقبلة، خاصة أن الأزمة لا تزال مستمرة، وابعاد التداعيات لا تزال قيد التبلور وبحاجة إلى تكاتف كافة جهود الجهات الرسمية مع القطاع الخاص من أجل العمل سوية لوضع الحلول المناسبة لمواجهتها، وإعادة الاقتصاد إلى مساره السليم.
UAE, Saudi central banks roll out $40 billion stimulus for virus-hit economies
01 Apr 2020 Written by Admin AdminThe central banks of the United Arab Emirates (UAE) and Saudi Arabia, the two largest Arab economies, on Saturday announced stimulus plans worth a combined $40 billion to ease the impact of the coronavirus outbreak in their respective countries.
The UAE regulator plans to support banks and businesses in the country, where the outbreak is affecting major economic sectors such as tourism and transport, with a 100 billion dirham ($27 billion) economic plan, it said on Saturday.
In a separate statement, the Saudi Arabian Monetary Authority said it had prepared a 50 billion riyal ($13.32 billion) package to help small and medium-sized enterprises (SMEs) cope with the economic impacts of coronavirus.
The disease has so far infected 85 people in the UAE and 105 in Saudi Arabia.
The Saudi funding aims to grant SMEs six-month deferrals on bank payments, concessional financing and exemptions from the costs of a loan guarantee program, SAMA said.
Concerts, sporting events and industry conferences have been canceled or postponed in the past few weeks in the UAE to contain the spreading of the new coronavirus.
In Dubai, the Middle East’s trade, finance, tourism and transportation hub, some businesses have started to feel the pain from the global travel slowdown caused by the outbreak.
Saudi Arabia, which has already suspended the Umrah pilgrimage and locked down its eastern Qatif region where many infections are located, plans to halt all international flights for two weeks from Sunday.
The UAE central bank said it will provide 50 billion dirhams through collateralized loans at zero cost to all banks operating in the UAE while an additional 50 billion dirhams will be freed up from lenders’ capital buffers.
“The CBUAE is allowing banks to free-up their regulatory capital buffers to boost lending capacity and support the UAE economy,” it said in a statement.
It said the scheme offers banks relief for up to six months from the payments of principal and interest on outstanding loans for affected private sector companies and retail customers.
Committed to peg
Adding to a likely economic slowdown caused by the virus, Saudi Arabia and the UAE are also expected to face wider fiscal deficits this year because of lower oil prices, due to an oil price war between Riyadh and Moscow.
The Gulf states’ currencies, which are pegged to the U.S. dollar, weakened in the forwards market last week.
The UAE regulator said on Saturday it maintained its commitment to the peg for the dirham, and said foreign currency reserves amounting to 405 billion dirhams as of March 10 were “adequate” to safeguard the stability of the currency.
Other measures introduced by the UAE central bank on Saturday include reducing by 15-25% the amount of capital banks have to hold for loans to SMEs, and better terms for first-time home buyers.
Importantly for the local real estate sector - which has been struggling in Dubai for the past decade - banks will be allowed to increase their exposure to real estate loans.
“When the exposure reaches 20% of the banks’ loan portfolio (measured by risk-weighted assets), banks will be allowed to increase it to 30%, but will be required to hold more capital,” it said.
The central bank also introduced regulations which reduce banking fees for small companies.
The Dubai and Abu Dhabi stock exchange indices dropped last week amid coronavirus concerns and because of tumbling oil prices.
To contain volatility in the markets, the central bank said it plans to issue guidelines on margin calls, asking banks to request additional collateral before liquidating stocks in the event of a market downfall.
source: cnbc
Cairo Angels announces its top 4 finalists for its recent initiative We've Got Your Back In COVID-19
01 Apr 2020 Written by Admin AdminCairo Angels, a global network of angel investors focused on supporting startup opportunities in Egypt, the Middle East and Africa, is delighted to announce its top finalists who will move to the final round and pitch their solution virtually on Wednesday at 6:00 PM CT.
Finalist Startups are:
- Kofoof under iNet.works, founded by Mohammad AboAli, iNet.works is a software company that specializes in business software development that helps worldwide businesses succeed.
- Markazzy, founded by Omar Nasser, the first platform in Egypt that helps homeowners find, choose and use home improvement products with ease and convenience.
- NIoTEK, founded by Anas Naguib, NIoTEK is a startup that joins hardware and Software and apply them in Internet of Things (IoT) to help companies make better.
- Tactful AI, founded by Mohamed Elmasry, Tactful is AI-powered and data-centric customer engagement technology. Unlike traditional contact center and helpdesk solutions that only optimize the workload, Tactful uses AI and real-time analytics to provide 360-view of the customer and empower customer care agents to deliver personalized and rewarding experience across digital platforms.
The initiative was launched by Mr. Ayman Ashour, Advisory Board Member at The Cairo Angels has decided to support the campaign #نحنا في ضهرك ("We’ve Got Your Back") one week ago with EGP 100,000, which aims at helping elderly or vulnerable people living alone complete their shopping and errands. lowering their risk of infection from the novel coronavirus.
The network is seeking to establish a secure and updated database for volunteers, whose identity can be verified through social media accounts and ID cards, with the inclusion of reviews.
Zeina Mandour, General Manager at The Cairo Angels said “We are launching a series of activities to support startups in MENA region.“
Also Zeina highlighted that Cairo Angels believes in the importance of solidarity with the most vulnerable and the idea of this campaign is to bring the ingenuity of startups, technology for a societal support and solidarity effort at this time of global crisis.
Finally she mentioned “We at Cairo Angels are grateful for the support of our partners Mayday and Microsoft who have agreed to provide additional important awards to the ultimate winner of the competition.“
The winner will be announced on Thursday after the voting is done and will start working directly with The Cairo Angels team who will provide mentorship and support for his solution besides the funding.
source: magnitt
Egypt's startups focus on people's mental, physical wellbeing amidst COVID-19
25 Mar 2020 Written by Admin AdminFrom medical consultations to free services, local startups become more agile in light of crisis
More startups and entrepreneurship stakeholders have started to adapt and enhance their services in light of the COVID-19 - known as the “coronavirus” - spread, in an aim to help customers and partners get through this phase safely and healthy.
Highlights from the ecosystem:
- The Cairo Angels seeks solutions for “We’ve got your back” initiative with EGP 100,000
Angel investment network The Cairo Angels is supporting the #احنا_في_ضهرك (“We’ve got your back”) initiative with EGP 100,000, which aims at helping elderly or vulnerable people living alone complete their shopping and errands.
The network is seeking to establish a secure and updated database for volunteers, whose identity can be verified through social media accounts and ID cards, with the inclusion of reviews.
Hence, existing startups and/or startup founders are needed to develop the product and launch it within one week. Applications are accepted until March 25th, 2020.
- Taskty offers sanitization services for companies, factories
Home improvement website Taskty built teams to offer sanitization services for companies and factories alike at cheap prices, following the guidelines of the World Health Organization (WHO) and the Egyptian Ministry of Health. Additionally, Taskty is conducting phone training with the cleaners, technicians and workers that are registered on their website on how to best keep themselves and their customers safe.
- estshara launches “Salamet Masr” initiative
Medical consultation platform estshara launched the Salamet Masr initiative to help fight COVID-19, by providing free medical consultations on the coronavirus through its application by consulting a doctor via a voice call or text chat.
Moreover, the app spreads awareness and educates the community about the symptoms and methods of preventing the disease.
Users can access the free consultations by entering the Promocode “freedoc” in the estshara application, available until March 31, 2020. estshara is a platform that provides online healthcare consultations, aiming to make healthcare services accessible to everyone in the MENA region.
- WideBotbuilds free Arabic-speaking chatbots for businesses
Arabic chatbot company WideBot is offering three months of bot building for free on their platform, so that businesses can completely shift their communication with other brands, employees and customers online. Using the Promocode “BeSafe” allows interested businesses and startups to set up their chatbots, and thus, reduce face-to-face interactions. Widebot is the first Arabic-focused bot-builder platform, which does not require coding and uses AI to maximize conversions and increase loyalty.
- TakeStep offers free sessions, launches COVID-19 symptom-checker with Al-Tibbi
Egyptian healthcare startup TakeStep now offers startups and their families free psychiatric sessions in order to help them cope with the psychological impact of the COVID-19 spread worldwide. Psychologists are coining the term “corona phobia” to describe how people are affected by the panic and fear that comes along with the virus-spread. This could include anxiety, depression, as well as severe fear of germs. Additionally, TakeStep partnered with Al-Tibbi to launch a free symptom-checker for the coronavirus, in which website visitors can enter the symptoms they feel, and be diagnosed either positive or negative for COVID-19.
- Brainy Squad launches free online consultations for businesses
Creative agency Brainy Squad launched free online consultation sessions to support businesses facing economic consequences of the spread of COVID-19.
These sessions provide expertise to help businesses adopt the best digital transformation tactics to ensure continuity and growth under the current conditions. Brainy Squad is a creative one-stop-shop for businesses’ digital and creative needs.
- Breadfast waives delivery fees, adds more products for customers’ convenience
Online native grocery application Breadfast added more commodities to its offering at their customers’ convenience, in support of the ''stay at home'' safety measures.
These products include fruits, vegetables, groceries, hand sanitizers and face masks. Additionally, the company applied special safety standards at all stages of production, packaging, and delivery, while customers can leave a note to have their order left at the door.
Breadfast also waived all delivery fees until the end of the month in support of customers’ circumstances during the current times.
Breadfast is an online grocery application that produces fresh bakeries using products like eggs and flour also produced by Breadfast, in addition to providing other groceries delivered daily to their customers’ doorstep.
source: zawya
Egypt’s Leading Food Delivery Startup Elmenus Strengthens With USD 8 Mn Series B
24 Mar 2020 Written by Admin AdminElmenus, the Egyptian startup that is fast-becoming a leader in the food discovery, ordering, and delivery sector, has secured USD 8 Mn in funding in a Series B round co-led by UAE-based VC fund, Global Ventures, and Egypt’s Algebra Ventures.
Founded in 2011 by CEO Amir Allam, and having previously raised USD 1.5 Mn in Series A funding from Algebra Ventures in 2017, Elmenus has achieved rapid success.
Since its founding, the startup has launched online ordering operations and, more recently, its own fleet service while also scaling from 20 to 200 employees, attracting top-tier talent, experiencing double-digit growth monthly, and eliminating that “What to eat today” concern for many people.
“We are incredibly excited to announce Global Ventures’ investment in a leading food-tech startup such as Elmenus, and look forward to working closely with the team in terms of driving further value creation opportunities that result in continued growth,” states Basil Moftah, General Partner at Global Ventures.
With its foundation of loyal users built via a comprehensive platform targeted to enable users to discover and order food online (app and website), elmenus has grown rapidly within the Egyptian market.
The startup claims to have onboarded over 8,000 restaurants and while serving approximately 1.2 million monthly active users in a short period. And this would have had a bearing on the Series B raise.
“With their first raise of USD 1.5 Mn, Elmenus proved our original investment thesis that a strong local player with a broader offering can have disproportionate achievement. The company has unique efficiencies and this round could be enough to secure its leadership in the rapidly growing digital market in Egypt.”, says Ziad Mokhtar, Managing Partner at Algebra Ventures.
The latest funding round also drew participation from Tarek Sakr and Hamad Al Homaizi, who are both prominent entrepreneurs most notable for having partially exited 4Sale, the leading Kuwait-based classifieds platform to NBK Capital last year.
The duo would be hoping to profit off of what is fast-becoming the leading food-tech startup in Egypt with a focus on personalizing food recommendations to users at the dish-level through digitized restaurant menus, reviews, and photos via its online food discovery and ordering platform.
“We believe our success as a startup is a combination of innovatively solving the right user problems, great team, and laser-focused execution. We have been able to grow the market in Egypt and accomplish great milestones very efficiently, we are excited about what we will do with this additional funding and the support of Global Ventures coming on board as we continue to scale across Egypt and help millions of more users to discover and order the food they will love,” states Amir Allam, Founder of Elmenus.
Egypt’s food discovery/ordering/delivery scene appears to be one of the most active on the African continent with a number of vibrant players including Uber Eats, Carriage, and Otlob.
With the latest investment, Elmenus seems to be strengthening its grip on a market that recently lost one of its bigger players in Glovo.
source: weetracker
If there is one pastime that people in the Middle East are unlikely to give up, it is watching television. In 2018, the daily time spent watching TV per capita in the region was 6 hours and 20 minutes according to Statista, more than double the global time of 2 hours and 48 minutes.
But this is set to decline to 6 hours this year as users in the region switch from watching their shows on traditional television sets to streaming them online.
Between 2013 and 2019, the number of people watching television offline dropped from 98 per cent to 86 per cent in the Middle East and North Africa (Mena) according to the Media Use in the Middle East report.
This drop has been driven by cheaper and faster internet connectivity and the rise of video on demand (VOD) and streaming services, also known as over-the-top (OTT) players.
As a result, the space has become more competitive, but the penetration of these services in the region pales in comparison to other parts of the world.
Starzplay, a UAE-based subscription VOD service partly owned by Lionsgate, launched in 2014 in response to rising demand for good quality content. Now, the company has the biggest market share in the subscriptions market with 29 per cent compared to US-based Netflix which has the second largest share in Mena with Wit24 per cent, according to the IHS Markit in its Pay TV & Online Video Report Mena 2019.
Netflix arrived in the Middle East in 2016, giving the industry a boost and bringing with it a sense of credibility and awareness of subscription-based streaming services.
Telecommunication and pay TV operators like OSN have launched their own OTT services as a way to maintain market share, while the parallel launch of Apple TV+ and Disney+ into the streaming television space last November in the US poses the threat of even more competition once they are launched in Mena.
“It is not a ‘one player wins it all’ business, different providers complement each other. OTT subscription prices allow customers to have more than one service.
It is a great time to watch content,” says Danny Bates, co-founder and chief commercial officer at Starzplay.
The online subscription video market is pursuing the same growth pattern that the pay TV market had followed in the region.
By 2023, online video subscriptions will reach almost five million, while revenues will reach $416 million according to the IHS Markit report.
Much of the demand for streaming services is coming from the UAE and Saudi Arabia which together account for 49 per cent of the total subscriptions in Mena. The demand for online streaming subscriptions is likely to overtake pay TV subscriptions like OSN and beIN by 2025.
However, streaming services need to have premium content from the biggest studios in the world in order to stand a chance to compete and bring customers on board, and content remains an expensive product.
Additionally, the significance of telling relevant stories catering to Mena audiences is becoming key, hence the surge in investment in original content production.
Earlier this year, Shahid, MBC Group’s streaming platform relaunched, announcing a partnership with Disney and Fox to bring more than 3,000 hours of content to the biggest streaming library of Arabic content.
“Over the next two years, we aim to substantially increase the size of our investment into drama productions, thus increasing them fourfold, of which the majority will be original and exclusive content,” says Marc Antoine d’Halluin, group chief executive at MBC Group.
Netflix has also increased its original content offerings for Arab audiences while Starzplay recently announced a partnership with Academy Award-winning media and entertainment company, Image Nation Abu Dhabi, to create its first original content series.
Jawwy TV, an OTT platform launched in 2018 for the Mena region through Intigral, a digital provider of sports and entertainment, is seeking to make an impact in the way content is consumed in the region.
“Our roadmap is very intense, and we are trying to develop a product in order to match all the major OTT players in the world, but it will be dedicated for Mena content,” said Tony Saab, vice-president of products and content at Intigral.
The service continues to explore agreements with numerous players, in addition to creating original content and acquiring Arabic content.
As more users begin to consume content online, competition will no doubt intensify. One casualty of this growing competition was Malaysia-based iFlix, which pulled out of the Mena region two years after its launch in 2017, unable to replicate the success of its core market in South East Asia.
“Streaming services have just scratched the surface of the market in Mena, despite all the [high] numbers,” says Bates who believes that the market is still establishing itself, and businesses will have to continue to evolve and strengthen their product to meet the rising demand.
According to Bates, “iFlix never really came into the region, they had success in Asia, but they came to Mena with the exact model, while it is a different territory, people, culture and ways of doing business”.
For him, it was not about lack of market demand that caused iFlix to exit, it was unfit execution, something that every OTT player should bear in mind.
source: wamda
GCC MAJOR SOURCE MARKET FOR OUTBOUND MICE TRAVEL SAYS REGIONAL EXPERT MICEMINDS
WINS ‘BEST INCENTIVE PROGRAM IN AN INTERNATIONAL DESTINATION’ ACCOLADE AT
THE MALT EXCELLENCE AWARDS 2020
Dubai, United Arab Emirates: The global MICE industry is anticipated to reach over $1.4 billion in the next five years and the Middle East remains at the forefront as one of the fastest-growing tourism generators globally and an important source market for any destination.
According to the team at MiceMinds, the UAE is the second biggest source market for outbound travel from the Middle East, surpassed only by Saudi Arabia. This growth has been buoyed by the growth of the regional airlines as well as the game-changing mindset of companies like MiceMinds who create bespoke incentive travel experiences that are personalized and designed to lead positive business results.
An ITL World Company, MiceMinds was lauded for their ‘out of the box’ thinking where they won the ‘Best Incentive program in an International Destination’ award at the MALT Excellence Awards last night. The official award show of the renowned Mice Arabia and Luxury Travel Congress (MALT), the MALT Excellence Awards highlight, honor and celebrate path-breaking achievements of top organizations and individuals, who have demonstrated exemplary initiatives in the field of Meetings, Incentives, Conferences, Events (Mice), Business and Luxury Travel from the GCC.
This particular award recognized this unique organization within the ITL World portfolio that uses incentive trips as a tool to stimulate and motivate employees and partners and reward those who have achieved certain goals in the company.
“When we won the TMC of the Year award last year we didn’t rest on our laurels so to be rewarded for a 2nd year in a row is a real honor especially for a part of our business that usually goes unrecognized. The core objective of MiceMinds is to help organizations strengthen their team and overall performance through one-of-a-kind travel and event experiences, and this unique accolade underscores our steadfast commitment to excellence in making the MICE industry bigger, better with more customization and innovation across the board,” said Rafeeq Mohammed, CEO of ITL World.
“Awards such as this are a wonderful endorsement of our unique approach to delivering exceptional experiences to our MICE clients and the resolute commitment and expertise of our team,” he added.
Since its official launch in 1998, ITL World has been assisting companies across the globe to make the most of what they spend on business and incentive travel.
source: uaenews247
The Egyptian government is working to move its entities to the new capital, and wants to provide adequate transportation services to the public sector employees
The Egyptian Minister of Planning and Economic Development, Hala El Said, has discussed with the General Manager of Uber Egypt, Ahmed Khalil, expanding the services of the ride-hailing application to the New Administrative Capital.
The Egyptian government is working to move its entities to the new capital, and wants to provide adequate transportation services to the public sector employees, the minister further noted.
El Said vowed to provide a suitable environment for Uber’s expansion plan, referring to the success of the Uber Bus services that launched for the first time in the world from Cairo.
The minister further stressed the need for creating a feature for frequent passengers to cater to the needs of students and employees.
Uber launched in Egypt in 2014, according to Khalil, who noted that the company now has more than 130,000 drivers.
The company is planning an Uber for Government service for public sector employees in the new capital, he further indicated, with studies to introduce the Uber Intercity programme across all governorates.
soruce: zawya
Egypt again tops European Bank for Reconstruction and Development investments in 2019
30 Jan 2020 Written by Admin AdminFor the second year in a row, Egypt has topped the European Bank for Reconstruction and Development’s (EBRD’s) annual investments with new commitments of €1.2 billion in 26 projects in 2019 after €1.1 billion in the previous year.
Continuing its support for the southern and eastern Mediterranean (SEMED) region in 2019, the Bank made €1.8 billion of new investments in 53 projects of which 72 per cent were in the private sector, while 40 per cent were in the green economy. This builds on €2 billion of investments in 50 projects in the previous year.
In Jordan, the Bank invested €87 million in nine projects which included the remediation of a contaminated lagoon east of Russaifa, a landmark project that will help clean up the lagoon and restore the link between the original watercourse upstream of the Wadi Marka catchment area and its downstream locations.
In Lebanon, the EBRD continued to support the competitiveness of the private sector with the investment of €164 million in three projects.
2019 also saw the opening of a third EBRD office in Morocco in Agadir, which confirmed the Bank’s commitment to developing the economy and promoting regional integration.
Investments in the country reached €204 million in 14 projects last year.
In Tunisia, the Bank invested €177 million through 11 projects in 2019 including a €45 million loan to Société des Transports de Tunis (Transtu) to enhance suburban train services between Tunis and La Marsa.
In the West Bank and Gaza, the Bank financed the first Palestinian employment-development impact bond to address high levels of youth unemployment providing professional training for more than 1,000 young Palestinians.
The Bank financed an unprecedented 452 individual projects, compared with 395 a year earlier.Financing exceeded €10 billion for the first time, rising to €10.1 billion from €9.5 billion.
The EBRD is a multilateral bank that promotes the development of the private sector and entrepreneurial initiative in 38 economies across three continents. It combines investments with policy dialogue and, through activities like its Community Initiative, also reaches out to support local societies and knowledge about EBRD countries.
source: euneighbours
Badir-incubated technology startups raise SR508 million in 10 years
30 Jan 2020 Written by Admin AdminTechnology startups incubated by the Badir Program for Technology Incubators and Accelerators, one of the leading initiatives of King Abdulaziz City for Science and Technology (KACST), closed 2019 on a high note, raising a record SR236 million ($62.93 million) led by venture capital firms, individual investors, private companies, and governmental institutions.
The total funding for startups increased to SR508 million ($135.47 million) from 2010 until the end of December 2019 across 184 deals, according to a statistical report compiled by the Business Incubators and Accelerators Company (BIAC), which manages and operates the Badir Program.
The report revealed that venture capital firms were the most active in terms of funding size, investing SR 203 million into startups, equivalent to 40% of the total amount of funding and investment, while private sector companies provided SR 168 million, 33% of the total funding.
BIAC report further disclosed that the total financing by individual investors amounted to SR 104 million, 20% of the total amount of funding, followed by government institutions who invested SR 35 million, 7% of the total investment volume.
The increase in investments reflects the maturing startup environment in the Kingdom of Saudi Arabia and the continued and growing interest of local and international investors.
Furthermore, the number of startups incubated in the Badir Program rose to 655 companies since inception until the end of the third quarter of 2019.
The Badir Program offers one of the most important national and innovative environments in the field of entrepreneurship.
The Program was established in 2007 by the King Abdulaziz City for Science and Technology, to support and provide opportunities for technology- and innovation-based business enterprises.
Nawaf Al Sahhaf, the Chief Executive Officer of BIAC, said: “As the startup environment is thriving in Saudi Arabia, we have seen more of the startups succeed in receiving significant investments from several investors.
The success of startups provides an incentive for encouraging and enhancing the entrepreneurship environment in the market."
When the Badir Program incubates a technological startup company, it facilitates funding by providing a platform by connecting investors and entrepreneurs through its annually-held "Projects Presentation Day" program.
A state-owned subsidiary of the Saudi Technology Development and Investment Company (TAQNIA) – owned by the Public Investment Fund (PIF) – BIAC operates and manages entrepreneurship support platforms, innovation and technology transfer programs.
It also offers project management and business support with specialized consultancy and training services.
Offering an array of services in over nine different cities in the Kingdom, BIAC operates and manages 10 incubators and 8 accelerators in various fields, most notably the Badir Program's 8 incubators in 7 regions.
In addition, BIAC manages and operates the Saudi Innovation Center for Water Technology Program; the Fast Track to Innovation Program; the Innovation Center for Industry 4.0; the KAMIN Program for raising industrial capabilities and enhancing the capabilities of small- and medium-sized industrial enterprises; the Industrial Establishments Accelerator; Haramein Technology Accelerator; Badir Accelerator, and the Inventions Transfer Accelerator.
source: saudigazette
