By Ayman Abualkhair

Are we in a stage of passing the dominant economic age, based on large factories and multinational companies, to a world predicated on freedom of choice, in which small entities would have the potential to compete with large companies, and hence shape the future economy? Are we crossing the age of a real economy to a virtual one, or is it moreover transitioning from a virtual economy to a real economy?

Middle East Business Magazine

Education is not a mere concept it is considered a life journey that is worthy for all of us, of our time and trust. It is not deniable that education is facing challenges and demands structural reforms.

Middle East Business Magazine

Printing is an industry that changed the world many centuries ago and it continues to evolve with the latest application – 3D printing.

Many of us have wished, at one stage or another, to have a magic machine that prints out our internal ideas by simply connecting a wire to our brains. It seems we’re not very far from this dream thanks to the 3D printer.

Banque du Liban Has Committed USD 400 Million to Supporting Startups;

GITEX Technology Week Connects Entrepreneurs with Customers and Investors

Dubai, United Arab Emirates

(بالعربية)

Dubai offers Lebanese tech startups the opportunity to gain global exposure and investment at one of the world’s most influential technology events, GITEX Technology Week.

مصرف لبنان خصّص 400 مليون دولار لدعم رواد الأعمال

أسبوع جيتكس للتقنية حلقة وصل بين رواد الأعمال والمستثمرين والعملاء

دبي، دولة الإمارات العربية المتحدة

 (English)

تتيح دبي مجالاً واسعاً أمام شركات التقنية اللبنانية الناشئة للتواصل مع العالم والانفتاح على مستثمرين عالميين من أجل اقتناص فرص التمويل، وذلك خلال مشاركتها في أسبوع جيتكس للتقنية، أحد أشدّ أحداث تقنية المعلومات تأثيراً في العالم، والذي أسدل الستار على فعالياته يوم الخميس الماضي في مركز دبي التجاري العالمي.

Middle East Business Magazine

Convenience products and social media to double sector demand in five years

Dubai, UAE: The Middle East’s packaging industry is undergoing rapid transformation with increasing demand for sophisticated automated solutions, according to exhibitors at Gulfood Manufacturing - the Middle East’s biggest food manufacturing, processing and packaging, logistics and materials handling exhibition - which runs at Dubai World Trade Centre (DWTC) from 7-9 November, 2016.

UAE-based Al Thika Packaging - one of the leading domestic exhibitors participating in ProPack Middle East, the dedicated processing and packaging zone within Gulfood Manufacturing - predicts regional sector demand could double within five years as the food processing sector strives to become more competitive in response to increasing consumer demand for convenience products.
“Automated solutions are being sought as companies try to reduce overhead labour costs and keep up with global supply trends,” said Tim Ansell, Al Thika’s Sales Director. “International trends in food products are coming to market much quicker in the UAE as people see through social media what is being offered elsewhere – it’s prompted this market to react faster to global trends.
“Food manufacturers are moving into ready meals, pre-packed ingredients and fruits and vegetables - we are following Western trends. The growth over the past six to seven years has not let up and, put simply, there is a desire to implement new technology; the regional industry is more open to innovation.”

Ansell says demand for high-end automation is coming largely from Saudi Arabia and the UAE, though there has been some recent pick-up from manufacturers and processers in Oman and Kuwait. High-end automation now represents 20 per cent of Al Thika’s sales with Ansell predicting that number will double within five years.

“Such is the demand from the food, drink and pharmaceuticals business that we have had to take on a Project Engineer to analyse customer requirements and produce integrated solutions and equipment,” he said.

We’ve moved from offering just a tray sealer or x-ray for example, to providing turn-key production lines with process equipment, conveyors, packaging machines and automated carton erector loaders. Customers want a one stop service, hassle free installation and local service, so this is playing to our strengths” he said.

According to a recent Euromonitor report forecasts, the Middle East and Africa packaging industry will register the highest growth of any region up to 2019, recording a 5.5 per cent compound annual growth rate (CAGR).

The forecasts, says Ishida, a leader in the design, manufacture and installation of complete weighing and packing line solutions for the food industry, could further be impacted by the emergence of export-oriented ‘power’ players within the Middle East, particularly from snack, dates and poultry producers.

Ishida is planning to capture a growing market share with packaging system demonstrations at ProPack Middle East featuring weighers and X-ray inspection systems.

“Apart from rising automation to reduce packaging and waste costs at the manufacturing, retail and end-consumer stages, to increase speed and efficiencies there will also be increasing demand for check-weighers, metal detectors, X-ray inspection systems and seal testers to secure quality control for exports outside the region,” said Torsten Giese, Marketing Manager.
Giese foresees huge changes within the food production sector, all of which will impact the packaging sector. “There will be polarisation. Politically stable countries will experience growth in convenience and ready-to-eat sectors and ‘luxury’ goods while politically unstable regions will fall back to a more agro/self-sufficient positions.

“Some large players will expand to produce and distribute their food products more efficiently and into more regions, thus becoming regional ‘power players’ while others will look to expand down or up in the food logistic chain. For example, growers will move into manufacturing and distribution; so potato growers currently producing potato chips and snacks will diversify to include frozen chips and other potato products.”

ProPack Middle East will be a weathervane to the food manufacturing industry’s transformation, according to Trixie LohMirmand, Senior Vice President, Exhibitions & Events Management, DWTC, the Gufood Manufacturing organiser.

“Through the state-of-the-art exhibits, visitors will be able to track the evolution of this vibrant regional industry which is at an undisputed high point in its development,” said LohMirmand.

“With Saudi Arabian and UAE producers looking to satisfy increasingly sophisticated domestic demand and also eyeing lucrative export markets, innovative packaging and weighing solutions which meet regional and international standards will be high on buyers’ shopping lists.”
The ProPack Middle East segment will feature 905 exhibitors from 30 national and industry pavilions, comprising approximately 50 per cent of the total companies at Gulfood Manufacturing 2016, which is 20 per cent bigger than last year. The show will fill 13 halls at DWTC and feature 1,600 food manufacturers, suppliers and industry service providers – up 60 per cent on last year.

Gulfood Manufacturing also features segmented areas including Ingredients Middle East, featuring fine and functional ingredients and the latest bulk and commodity ingredients, innovations, tastes and flavours; and Logistics Solutions Middle East, a showcase for firms involved in material handling, transport and commercial vehicles, IT and technology solutions, warehousing operators, facilitators and service providers.

Source: http://middleeast-business.com/

12^th October, 2016, Dubai, UAE: Consumers in the UAE appear to agree with the current real estate market sentiment that now is good time to buy property, according to statistics from compareit4me web site, the Middle East’s leading finance comparison site.

Using data from its mortgage comparison platform, compareit4me can reveal that there was an 119.5% increase in the number of people searching for mortgages in the third quarter of 2016, compared to the same period in 2015. This indicates a great willingness among UAE consumers to take on finance in order to take advantage of a buyer-friendly property market.

According to a recent study from Core Savills, over half of Dubai’s tenants are looking to buy their own residence in the future. Of these, the report said, 62% were leaning towards buying to own, rather than buying to let. What’s more, more than half said they were looking to purchase property over the next 12 months.

That same report added that buyers are being deterred by difficulties when it comes to securing finance on homes. That could explain the enormous growthin mortgage searches at compareit4me.

“If people are struggling to find good finance options for property, they’ll of course look to compare offerings. This is where we come in – our mortgage portal allows users to compare almost 80 different mortgages,” said Jon Richards, CEO at compareit4me.

“It seems people are looking to take advantage of the low prices in the property market, and they’re eager to take on finance to make sure they don’t miss out on the great deals to be had.”

Indeed, even when it comes to securing home loans, it appears that UAE consumers are looking for the least expensive options. compareit4me’s numbers reveal that, in the third quarter of 2016, there was a 28% reduction in the number of people looking for mortgages that don’t require a salary transfer account with the same bank. This indicates that users are wising up to the fact that

they can secure better home loan rates if they borrow from banks with which they hold a salary transfer account.

“This makes perfect sense in a property market being defined by low prices – the benefits of easy-to-buy property are negated if buyers have to pay out more on interest payments. Our users know this, and so they’re opting for the mortgages that give them the best rates – in this case, the mortgages that require salary transfer accounts,” said Richards.

According to compareit4me’s numbers for the third quarter of 2016, the most searched for mortgage product is RAKBANK’s Home In One. Union National Bank’s Mortgage for Expatriates came in a close second, while ACDB Mortgages rounded off the top three.

 Dubai, UAE, 9 October 2016: HE Saeed Mohammed Al Tayer, MD & CEO of Dubai Electricity and Water Authority (DEWA), received the prestigious Lord of Matterhorn Award from Peter Harradine, President of the Swiss Business Council, Dubai & Northern Emirates. The ceremony at Fairmont Palm Hotel and Resort, Dubai witnessed the attendance of HE Maya Tissafi, Swiss Ambassador to the UAE, HE Christian Watts, Consul General of the Consulate General of Switzerland, in addition to a number of Swiss companies and business representatives. 

The Lord of Matterhorn award is awarded annually to a select few UAE citizens who have contributed towards enhancing business relations with the Swiss Business Council and in turn towards Switzerland and its presence in the UAE.

“It is my pleasure to receive the prestigious Lord of the Matterhorn Award, by the Swiss Business Council. I understand that this prestigious award was named after Switzerland's most famous mountain, which is hard to conquer, but then again, here in the UAE, we do not believe in the word ‘Impossible’. We are guided by the vision and initiatives of HH Sheikh Mohammed bin Rashid Al Maktoum, Vice President and Prime Minister of the UAE and Ruler of Dubai, in all our endeavours,” said HE Saeed Mohammed Al Tayer, MD & CEO of DEWA.

“In line with DEWA’s vision to become a sustainable innovative world–class utility, innovation is the cornerstone and integrated approach we follow to achieve the UAE Vision 2021, which aims to make the UAE among the best countries in the world by 2021. This in turn, strengthens the UAE’s global competitiveness, especially in renewable energy, and green economy technologies and products. Dubai has a comprehensive vision for a sustainable future, which is pivotal to the success of building a green economy. Receiving the Lord of the Matterhorn award is a proud moment and honour for me, while reflecting DEWA’s success in strengthening its ties with its partners to ensure Dubai’s global competitiveness,” added Al Tayer.

“Finally, I would like to thank HE Maya Tissafi, Ambassador of Switzerland to the UAE, and Mr. Peter Harradine, President of the Swiss Business Council and the organisers for the success of this evening and all their efforts,” concluded Al Tayer.

مجلة الشرق الاوسط للأعمال - ميدل ايست بزنس

القاهرة، مصر، 7 سبتمبر، 2016 – عززت مؤسسة التمويل الدولية، عضو مجموعة البنك الدولي، من استثماراتها في مصر بهدف تحسين البنية التحتية ودعم قطاع الصناعة وتحسين فرص حصول الشركات الصغيرة والمتوسطة على التمويل وذلك خلال العام المالي 2016 (بالانجليزية).  

Published annually, the ISLAMICA 500 is a business guide providing hard-to-find biographical details for 500 of the world’s most prominent and influential personalities in the Islamic world and economy.