Tag: MENA

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MENA Environmental Law Conference in Oman Focuses on Sustainable Economy Goals

Held under the patronage of H.E. Prof. Mahad bin Said bin Ali Ba Awain, Minister for Labour of Oman, the conference featured a keynote lecture by H.E. Dr Abdullah bin Ali Al Amri, Chairman of Environment Authority, Oman...reports Asian Lite News

Hamad Bin Khalifa University’s (HBKU) College of Law collaborated with Sohar University and the Association of Environmental Law Lecturers in Middle East and North African Universities (ASSELLMU) to jointly host the 5th MENA Environmental Law and Policy Scholars’ Conference from February 19-20, 2024, in Sohar, Oman.

Organized under the theme “Environmental Law and the 2030 Agenda for Sustainable Development: Legislation Towards a Sustainable Economy in the MENA Region,” the conference brought together leading environmental educators, administrators, and legal practitioners to exchange knowledge, experience, and learn from each other on how to advance the attainment of the SDGs in the MENA region by the global target date of 2030.

Through workshops and seminars, the participants highlighted national, regional, and international aspects of accelerating the SDGs, including the status of teaching and practice of environmental law and the green economy in MENA countries, as well as domestic and regional approaches to environmental law and practice.

Held under the patronage of H.E. Prof. Mahad bin Said bin Ali Ba Awain, Minister for Labour of Oman, the conference featured a keynote lecture by H.E. Dr Abdullah bin Ali Al Amri, Chairman of Environment Authority, Oman. Several prominent figures also gave conference keynote addresses, including Dr. Hamdan Sulaiman Al Fazari,Vice Chancellor, Sohar University, H.E. Dr. Leila Chikhaoui, Minister of the Environment of Tunisia; Patricia Mbote, Director of the Law Division, United Nations Environment Programme (UNEP); Philipp Bremer,  Director of the Rule of Law Programme Middle East & North Africa, Konrad-Adenauer-Stiftung, and Professor Attiya Waris, United Nations Independent Expert on foreign debt, other international financial obligations and human rights.Speakers from HBKU College of Law included Dean Susan L. Karamanian,  Dr. Damilola S. Olawuyi, SAN, Professor of Law and UNESCO Chair on Environmental Law and Sustainable Development at HBKU, and Chair of ASSELLMU, and Tasniem Ahmed Elyass Hussain, third year Juris Doctor (J.D.) student and Research Fellow to the UNESCO Chair at HBKU. 

Speaking after the conference, Dean Karamanian noted: “The ASSELLMU conference at Sohar University was the 5th international conference organized by the College of Law  and ASSELLMU. Attendees came from Morocco, Iran, and many places in between. The support of Sohar University was outstanding, as faculty, students, and staff there welcomed international guests. The University venue enabled an open discussion about pressing issues related to environmental law.  We are deeply indebted to Sohar University and my colleague, Dr. Damilola Olawuyi, for their dedication to helping build and sustain a network of MENA legal academics and lawyers who are committed to improving capacity in environmental law.”  UNEP and SADER Legal Publishing sponsored the conference, while the UNESCO Chair on Environmental Law and Sustainable Development, HBKU, and the Rule of Law Programme Middle East & North Africa, Konrad-Adenauer-Stiftung served as partners.“This year’s landmark conference has greatly highlighted the important roles of environmental education and research in accelerating the SDGs and  addressing the urgent ecological threats facing the world. As new and cleaner technologies emerge, a talented and environmentally-aware workforce will be required to leverage them in all key economic sectors.

We commend Sohar University for their exceptional commitment to education and innovation in this regard and we look forward to working with them and other partners in promoting environmental law education and implementation across the region.” said Dr. Olawuyi, SAN.A significant outcome of the conference was the official adoption of a work plan of environmental training and education which will include focused research in five thematic areas: Technology and the Green Economy; Business, Human Rights and the Environment; Environmental Dispute Resolution; Food, Agriculture and Water Security; and Energy and Natural Resources. A scientific committee was inaugurated to prioritize this mandate. ASSELLMU’s next conference is scheduled to be held in Saudi Arabia in 2025.HBKU’s College of Law continues to work closely with top-tier local and international partners to help build expertise and research capacity in Qatar and beyond. Carefully designed auxiliary programs reflect the College’s relevance to government and corporate leaders, locally and globally.

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Economy UAE News

World Bank Predicts 3.8% Growth for UAE by 2025

GDP.

Growth in oil importers also slowed somewhat last year, reflecting anemic private sector activity, the report said, adding that growth is expected to edge up to 3.2 percent this year and 3.7 percent in 2025…reports Asian Lite News

The World Bank expected the UAE’s real GDP to grow by 3.4 percent in 2023, rising to 3.7 percent in 2024 and to 3.8 percent in 2025.
According to the Global Economic Prospects report released today, the World Bank forecast the growth in the Gulf Cooperation Council (GCC) countries to rise to 3.6 percent in 2024 and 3.8 percent in 2025, noting to last year’s robust non-oil sector activity.

The report said that the growth rate in the Middle East and North Africa (MENA) region slowed down sharply to 1.9 percent in 2023, as the region faced multiple headwinds, including oil production cuts, elevated inflation, and weak private sector activity in oil-importing economies. The report also expected the growth rate in the MENA region to pick up to 3.5 percent in 2024 and 2025.

Growth in oil importers also slowed somewhat last year, reflecting anemic private sector activity, the report said, adding that growth is expected to edge up to 3.2 percent this year and 3.7 percent in 2025.
According to the report, the growth in Saudi Arabian is projected to grow by 4.1 percent this year, rising to 4.2 percent next year, while the Kuwaiti economy is expected to grow by 2.6 percent by the end of this year, rising to 2.7 percent next year. The Bahraini economy is expected to grow by 3.3 percent in 2024 and 3.2 percent in 2025.

The report expected Qatar’s economy to grow by 2.5 percent this year, rising to 3.1 percent next year, while the economy of Oman is estimated to grow by 2.7 percent in 2024 and 2.9 percent in 2025.(ANI/WAM)

ALSO READ-UAE economy poised for stronger growth this year

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Dubai Hosts ‘Road to COP28’ for MENA Climate Action

دبي في 27 أكتوبر / وام/  اجتمع أكثر من 350 من قادة ورواد الأعمال والمسؤولين الحكوميين في منتدى “الطريق إلى” cop28"، الذي عقد في دبي بالتعاون مع 27 فرعاً لمنظمة الرؤساء الشباب YPO في الشرق الأوسط وشمال أفريقيا، بهدف تحفيز الجهود وتعزيز العمل الجماعي ومساهمة القطاع الخاص الإقليمي في مواجهة تغير المناخ، وذلك في إطار الاستعدادات الجارية لانطلاق فعاليات “COP28”، والمنتدى المناخي للأعمال التجارية والخيرية المقرر عقده يومَي 1 و2 ديسمبر 2023 ضمن فعاليات الحدث.      حضر المنتدى معالي الدكتور سلطان بن أحمد الجابر، وزير الصناعة والتكنولوجيا المتقدمة رئيس مؤتمر الأطراف COP28، ومعالي عبد الله البسطي أمين عام المجلس التنفيذي لإمارة دبي، وسعادة اللواء محمد أحمد المري مدير عام الإدارة العامة للإقامة وشؤون الأجانب بدبي، وسعادة خلفان بلهول الرئيس التنفيذي لمؤسسة دبي للمستقبل، وسعادة محمد علي بن راشد لوتاه، مدير عام غرف دبي، وعدد من المسؤولين البارزين.       وأكد معالي الدكتور سلطان بن أحمد الجابر، أن مواجهة تداعيات تغير المناخ تتطلب تعزيز التعاون بين الحكومات ومنظمات المجتمع المدني، وأن تحقيق انتقال مُنظَّم ومسؤول وعادل ومنطقي في قطاع الطاقة يتطلب استثمارات كبيرة من القطاع الخاص، وضرورة بناء شراكات بين قطاع الأعمال والحكومات والمجتمع المدني لتهيئة الظروف المناسبة لتحفيز استثمارات القطاع الخاص في هذا المجال.      وتضمن المنتدى عدداً من الكلمات الرئيسية التي تناولت الاستعدادات الجارية لمؤتمر الأطراف COP28 وأكدت أن المؤتمر سيشكل محطة مهمة لتعزيز دور مجتمع الأعمال في مجال المناخ، وكان من ضمن المتحدثين سعادة رزان خليفة المبارك، رائدة الأمم المتحدة للمناخ لـ COP28، وسعادة هلال سعيد المري، مدير عام دائرة الاقتصاد والسياحة في دبي.       واستعرضت سعادة رزان المبارك في كلمتها رؤية رئاسة COP28 وخطة عملها، مؤكدةً أهمية حشد استثمارات القطاع الخاص لمعالجة نقص التمويل في مجال المناخ، مع ضرورة توجيه مزيد من تدفقات رأس المال لحماية الطبيعة، مشيرةً إلى التزام رئاسة COP28 بضمان احتواء الجميع في منظومة العمل المناخي، وأن قطاعَي الأعمال التجارية والخيرية شريكان في تحقيق أهداف الحياد المناخي والوصول إلى التنمية المستدامة.       وقالت سعادتها " إن مستقبل كوكب الأرض يعتمد على القرارات الحكومية، وأيضاً تعزيز الابتكار والالتزام والطموح لدى القطاع الخاص، وفي هذا العقد الحاسم بالنسبة إلى العمل المناخي، يجب أن تقوم الشركات والمؤسسات الخيرية بتوجيه إمكاناتها ومواردها، لمعالجة نقص التمويل، وبناء مستقبل مستدام ومرن مناخياً للأجيال الحالية والقادمة ".       ويشكل هذا الحدث البارز محطة مهمة بالنسبة إلى مجتمع الأعمال الإقليمي، خاصةً مع استعداد دولة الإمارات لاستضافة COP28.        وفي إطار المنتدى عقدت جلسات نقاشية ركزت على أهم جوانب العمل المناخي، ومبادرات القطاع الخاص ضمن خطة عمل COP28، بما في ذلك دور قطاع الطاقة في الحد من الانبعاثات العالمية، والارتباط الوثيق بين مجالي التمويل المناخي والابتكارات لدعم مشروعات التكنولوجيا الخضراء، ودور النظم الغذائية في مواجهة أزمة المناخ.       وينظم COP28 ضمن فعالياته "المنتدى المناخي للأعمال التجارية والخيرية" بالتزامن انعقاد القمة العالمية للعمل المناخي، إذ يهدف المنتدى إلى تعزيز العمل الجماعي والتعاون بين كافة شرائح المجتمع، بالإضافة إلى بحث الإستراتيجيات اللازمة لتعزيز قدرة القطاع الخاص للإسهام بمعالجة فجوة التمويل التي تزيد على 3 تريليونات دولار أمريكي سنوياً من أجل تحقيق أهداف الحياد المناخي، ودعم جهود التكيف مع تغير المناخ، ومعالجة الخسائر والأضرار، وتعزيز التنوع البيولوجي.       وقال بدر جعفر، الممثل الخاص للأعمال التجارية والخيرية في “COP28” : " لفترة طويلة كانت معالجة تداعيات تغير المناخ لها منظور محدد، يضع النشطاء في خانة الأبطال والرأسمالية في خانة الأشرار، ولتصحيح هذا المنظور، دعت رئاسة COP28 إلى اتباع نهج جديد يركز على النتائج العملية، وتوفير رأس المال، وتعزيز العمل الجماعي، وهذه الإمكانيات توفرها الأعمال التجارية والخيرية، ونحتاجها لتحقيق الأهداف المناخية وحماية الطبيعة".      وأشار جعفر الذي يترأس أيضاً منتدى COP28 المناخي للأعمال التجارية والخيرية إلى أن هذا المنتدى سيسهم في إزالة العراقيل بين القطاعات المختلفة ويوحد جهود قادة الأعمال، والقطاع الخيري، وصنّاع السياسات، لإيجاد حلول ناجحة وفعّالة وإجراء التغيير الجذري المنشود بما يتماشى مع خطة عمل COP28.        وقال سعادة هلال سعيد المري، مدير عام دائرة الاقتصاد والسياحة في دبي، "مع اقتراب موعد بدء هذا المؤتمر المناخي العالمي المهم، نأمل أن تكون البنية التحتية والخدمات التي تتميز فيها إمارة دبي، منصةً جامعة للأوطان والشبكات للتحاور وتشارك الحلول وتعزيز العمل المناخي، فدولة الإمارات العربية المتحدة هي منارةٌ للابتكار ومنبرٌ للتعاون".        يشار إلى من بين قادة الأعمال المتحدثين في الفعالية أحمد جلال إسماعيل الرئيس التنفيذي لماجد الفطيم، وخالد الحريمل الرئيس التنفيذي لمجموعة بيئة، وروري جيمز مكارثي شريك في يِلو دور إنيرجي، وسامايلا زوبايرو رئيس مؤسسة التمويل الإفريقية ورئيسها التنفيذي، وبدر عطايا المؤسس المشارك لكيتوبي، وإدوارد هامود المؤسس والرئيس التنفيذي لسويتش فودز، وشون دينيس المؤسس المشارك لسيفود سوق، ورياض بصيبص الرئيس والرئيس التنفيذي لمجموعة أمانة للاستثمار، وسانديب واليا الرئيس التنفيذي لماريوت إنترناشونال الشرق الأوسط، وأحمد علي علوان نائب الرئيس التنفيذي لHub71، ونجلاء المدفع الرئيسة التنفيذية لمركز الشارقة لريادة الأعمال "شراع"، وغيرهم.        جدير بالذكر أن فعالية "الطريق إلى COP28" سلطت الضوء على الدور الهام الذي يستطيع القطاع الخاص أي يؤديه لتحقيق الأهداف المناخية.         ويسعى منتدى COP28 المناخي للأعمال التجارية والخيرية إلى تعزيز التعاون والعمل المناخي الجماعي ودعم خطة عمل رئاسة المؤتمر، التي تستند إلى أربع ركائز وهي تسريع تحقيق انتقال منظم ومسؤول وعادل ومنطقي في قطاع الطاقة، وتطوير آليات التمويل المناخي، وحماية البشر والطبيعة وتحسين الحياة وسُبل العيش، ودعم الركائز السابقة من خلال ضمان احتواء الجميع بشكل تام.  

Business leaders and entrepreneurs convene at ‘Road to COP28’ event in Dubai to address MENA climate action

The ‘Road to COP28’ event brought together over 350 prominent business leaders, entrepreneurs, and government officials, in collaboration with 27 YPO Middle East/North Africa chapters.

Co-hosted by Badr Jafar, COP28 Special Representative for Business and Philanthropy, the event was attended by Dr. Sultan Al Jaber, COP28 President, Abdulla Al Basti, Secretary General of The Executive Council of Dubai, Lieutenant General Mohammed Al Marri, Director General of the Federal Authority for Identity & Citizenship, Khalfan Belhoul, CEO of Dubai Future Foundation, H.E. Mohammad Ali bin Rashed Lootah, President & CEO of Dubai Chambers, and other officials. The event’s primary goal was to rally collective efforts and raise regional business ambitions in tackling climate change in preparation for COP28, and the COP28 Business and Philanthropy Climate Forum scheduled on 1 and 2 December 2023.

The event consisted of a number of keynote speeches on the preparations for COP28 and opportunities for business to engage across the COP28 Presidential Action Agenda, including from Razan Khalifa Al Mubarak, the UN Climate Change High-Level Champion for COP28, and Helal Saeed Al Marri, Director General of Dubai Department of Economy and Tourism.

Al Mubarak shared the goals and vision of the COP28 Presidency, emphasizing the critical role of mobilizing private investment to address climate finance gaps. The COP28 Presidency is fully committed to inclusivity and recognizes that business and philanthropy are essential stakeholders in developing collective solutions for achieving net-zero pathways and sustainable development.

The event marked a significant step forward for the regional business community, as the UAE prepares to host COP28.

Attendees had the opportunity to participate in sessions focusing on critical aspects of climate action underscored by COP28’s private sector initiatives; such as the energy sector’s role in global emissions reductions and the policies driving it, the intersection of climate finance and technological innovation, the connection between the built environment and climate, and the protection of natural assets and food systems in addressing the climate crisis.

COP28 President Dr. Sultan Al Jaber said, “In the battle against climate change, government and civil society cannot do the job themselves. A just and responsible energy transition requires major private sector investment if it is to become a reality. Businesses must partner actively with governments and civil society to ensure the right conditions are established for private sector investment in that transition.”

To drive collective action, COP28 will host the Business and Philanthropy Climate Forum during COP28, running in parallel with the World Climate Action Summit.

The Forum aims to coordinate strategies on how the private sector can help address the financing gap of over USD 3 trillion required annually to achieve net-zero emissions, support climate adaptation, reverse nature loss and restore biodiversity.

Jafar, who is also Chair of the Business and Philanthropy Climate Forum said: “For too long, the climate narrative has been seen through the prism of activism equals good, and capitalism equals bad. Which is why the COP28 Presidency has called for a new paradigm of actionism, which embraces the dynamism, capital, and action networks that business and philanthropy must bring to the table, if we are to stand a chance in achieving nature and climate goals. This CEO-level Forum will break down silos and mobilize global business and philanthropy leaders, along with policy makers, to unlock solutions and drive bolder results in line with the COP28 Action Agenda.”

Dr. Sultan bin Ahmed Al Jaber during a keynote address at the inaugural African Climate Summit in Nairobi, Kenya. (Photo: WAM)

UN Climate Change High-Level Champion for COP28, Razan Al Mubarak said:”The future of our planet hinges not solely on government resolutions, but on the innovation, commitment, and ambition of the private sector. As we stand at this crossroad, it is essential for businesses and philanthropies to channel their influence and resources, closing the finance gap and crafting a green legacy for generations to come.”

Director General of Dubai Department of Economy and Tourism, Helal Saeed Al Marri commented: “As we approach this crucial global moment, we hope that Dubai’s unmatched infrastructure and global accessibility serve as a unifying platform for nations and networks to foster dialogue, share solutions, and drive climate action. The UAE stands as a beacon for innovation and collaboration.”

Business leaders who addressed the event included, Ahmed Galal Ismail, CEO of Majid Al Futtaim, Khaled Al Huraimel, Group CEO of BEEAH, Rory James McCarthy, Partner at Yellow Door Energy, Samaila Zubairu, CEO & President of the Africa Finance Corporation, Bader Ataya, Co-founder of Kitopi, Edward Hamod, Founder & CEO of Switch Foods, Sean Dennis, Co-Founder of Seafood Sooq, Riad Bsaibes, President & CEO of Amana Investments Group, Sandeep Walia, Chief Operating Officer of Mariott International Middle East, Ahmad Ali Alwan, Deputy CEO of Hub71, and Najla Al Midfa, CEO of Sheraa – Sharjah Entrepreneurship Center, among others.

The event put a spotlight on the important role that private sector can play in meeting climate goals, while the COP28 Business and Philanthropy Climate Forum aims to strengthen this collaborative climate action in line with the COP28 Action Agenda, which includes fast-tracking a just and orderly energy transition; fixing climate finance; putting nature, lives, and livelihoods at the heart of climate action; and underpinning everything with full inclusivity.

ALSO READ: UAE Calls on Govts to Endorse COP28 Declaration on Climate & Health

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Arab News Business India News

Top 250 Indian Apparel Brands Explore MENA

This B2B trade show will be hosted at the Dubai World Trade Centre from 27th to 29th November, 2023….reports Asian Lite News

Indian Ambassador to UAE, Sunjay Sudhir launched the Curtain Raiser of the ‘Brands of India’, ‘ a ground breaking initiative that opens a new era for Indian apparel brands on the global stage, presented by CMAI (Clothing Manufacturers Association of India).

This B2B trade show will be hosted at the Dubai World Trade Centre from 27th to 29th November, 2023.

The launch took place in a high profile gathering that saw top most retailers from the region along with industry captains in attendance.  Ashraf Ali, ED, Lulus Group, also attended the event as the Guest of Honour.

Supported by the Embassy of India and TEXMAS (Dubai Textile Merchants Association), ‘Brands of India’ by CMAI is set to be India’s largest apparel brands show in the Middle East. This trade show is the first-of-its-kind ‘organised effort’ made to bring together over 250 top Indian apparel brands on an international platform, showcasing a diverse array of collections encompassing Indian ethnic wear, Western wear, and Fusion Wear across Menswear, Womenswear, and Kidswear categories.

Speaking about the initiative, Jayesh Shah, Vice President of CMAI, shared his thoughts, stating, “Indian craftsmanship has consistently served as a source of inspiration for designers and consumers on a global scale. Remarkably, Indian apparel brands have transcended their traditional boundaries and the diaspora, experiencing a growing demand across the world, extending beyond the Asian continent.”

“The ‘Brands of India’ initiative by CMAI is an exemplary showcase of the most prominent Indian apparel brands on the international platform. Additionally, in the UAE, the Comprehensive Economic Partnership Agreement (CEPA) opens doors to unmatched prospects, propelling the growth of Indian apparel brands in this dynamic market,” added Rajesh Masand, President of CMAI.

Ambassador Sudhir launched the first Brands of India roadshow in Dubai. In his address, he congratulated CMAI for planning this initiative to boost Indian brands in the UAE.

He said, “India and the UAE have a special relationship which is manifested in our multisectoral partnership. It is only fitting that our brands also expand into the UAE market. India-UAE CEPA provides an unprecedented opportunity for our businesses and can serve as a window for the whole region as well as to Europe and Africa. I am confident that this effort will boost the bilateral trade in apparels and we will soon see more Indian brands across this market.”

Brands of India has been meticulously designed to serve as the primary destination for wholesalers, retailers, distributors, importers, and departmental chains from the Middle East & North Africa (MENA) region to conveniently connect with leading Indian apparel brands. Among the participating brands are Louis Philippe, Soch, Spykar, Indifusion, Gini & Jony, Dollar, Touch, Bonsoir, A-La-Mode, Stori, Satya Fusion, to name a few.

This trade show promises an immersive experience where visitors can connect with Indian apparel brands and manufacturers, fostering new business relationships and exploring potential collaborations for mutual growth. This strategic choice of Dubai as the tradeshows location is purposeful, leveraging the city’s global reputation for exceptional infrastructure, connectivity, free trade zones, and business-friendly policies, making it the optimal epicentre for international trade.

Dignitaries present at the announcement included Rajesh Masand, President, CMAI, Jayesh Shah, Vice President, CMAI and Chairman, Brands of India Committee, and other Office Bearers of CMAI.

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Business UAE News

e& Capital Invests in Ikigai Labs’ AI Revolution

Ikigai Labs has secured $25 million in this round, with contributions from e& capital, Premji Invest, and Foundation Capital….reports Asian Lite News

e& capital today announced its participation in the Series A financing round for Ikigai Labs, a pioneering firm harnessing the power of generative AI for tabular data.

Ikigai Labs has secured $25 million in this round, with contributions from e& capital, Premji Invest, and Foundation Capital.

The funding will advance Ikigai Lab’s vision of transforming enterprises’ utilisation of AI, enabling organisations to master AI through the Ikigai Academy and the easy, fast, and powerful Ikigai platform.

Ikigai Labs offers a no-code AI solution, helping organisations address the challenges of harnessing large datasets and ensuring accurate forecasting. The company’s innovative approach combines state-of-the-art time series forecasting with three core tools: aiMatch for data reconciliation, aiCast for prediction, and aiPlan for scenario planning.

“I see the challenges that individuals face in understanding what can be done with their tabular data, together with the struggle for enterprises to leverage the latest technological innovations in AI,” said Devavrat Shah, Co-founder and Co-CEO, Ikigai Labs, and Andrew (1956) and Erna Viterbi Chair Professor of AI and Decisions at MIT. “With Ikigai, we see a clear opportunity to help the global workforce harness the power of AI. We are excited to work with e& capital, Premji Invest, Foundation Capital, and luminaries like Diane Greene, who are enabling us to make Generative AI for tabular data truly effective across enterprises.”

Eddy Farhat, Executive Director, e& capital, said: “We believe Ikigai is poised to revolutionise the way businesses engage with AI. First, by prioritising functional teams and meeting them where they are on their AI journey both through their powerful, intuitive AI platform and through their engaging, hands-on academy. Second, while the tech world is enamoured with text- and image-based generative AI, Ikigai recognises the substantial value of tabular data, the true treasure trove for most businesses.

“AI is one of humanity’s most powerful technological levers, our investment in Ikigai is a testament to our confidence in their mission to democratise AI and make it more accessible.”

Ikigai Lab’s platform is enriched by the innovative Expert-in-the-Loop (EiTL) approach to reinforcement learning. Along with this easy, fast and powerful platform, Ikigai Academy has trained over 6,000 students from 90+ countries on topics such as “No Code AI” and “Time Series Forecasting”.

With this investment in Ikigai Labs, e& capital reaffirms its dedication to championing innovative technologies. This strategic move is anticipated to catalyse the next generation of AI-driven solutions, heralding a smarter, data-centric business world.

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Business Investment UAE News

Udenz gets landmark success with $5mln series A funding

With this funding, UDENZ is set to accelerate its mission to offer Dental Ultra Platform Services free of charge to over 50,000 dentists across the MENA region…reports Asian Lite News

UDENZ, an innovative digital dental health platform based in Dubai, has successfully completed a $5 million Series A funding round, backed by a Performance Guarantee. This unprecedented success story is a first for dental startups in the MENA region, facilitated by a consortium of leading UAE-based venture capital firms: Hakim Capital Holding, Techcelerate Investments LLC, Inspira Management, and Dubai Business Corporation.

Since its launch at AEEDC 2016, the world’s largest dental event in Dubai, UDENZ has transformed from a platform providing listing and appointment booking services to the region’s first ultra dental platform. With 26 services integrated into one platform, UDENZ has handled over 100,000 search requests for a dentist and confirmed more than 5000 bookings. The database now comprises close to 8000 dentists from across the MENA region.

With this funding, UDENZ is set to accelerate its mission to offer Dental Ultra Platform Services free of charge to over 50,000 dentists across the MENA region. This service, underpinned by a freemium business model, marks a new era in dental clinic management and patient data applications.

Dr. Hisham Safadi, the Founder of UDENZ, expressed his enthusiasm about the funding, saying, “We’re excited to pioneer the first ultra dental platform in the MENA region. This significant investment will empower us to build on our vision to revolutionize dental services, making them more accessible and effective for both practitioners and patients. It’s a validation of our efforts and a catalyst for our future growth.”

Additionally he added “With the global dental market projected to reach $610 billion in 2023, according to Grand View Research, there is a significant opportunity for companies like UDENZ that can streamline both practitioner operations and patient experiences while also enhancing dental management and cash flow positivity.”

Dr. Saad Al Jaibeji, Managing Director of Techcelerate Investments, commented, “UDENZ embodies the spirit of innovation that Dubai and the UAE champion. This startup, born in Dubai’s Silicon Oasis, nurtured by In5 Dubai Internet City, and matured within Dubai International Financial City’s FintechHive, exemplifies the limitless potential within UAE’s vibrant startup ecosystem. It’s a testament to the entrepreneurial zeal that Dubai and the UAE inspire and support.”

UDENZ’s growth trajectory, marked by successful fund raising of $450,000 through crowdfunding and additional rounds, has now reached a new height with a notable Series A funding, setting a pre-money valuation at $2 million. Headquartered in Umm Al Quwain, with operations in Casablanca and Muscat, UDENZ is actively changing the dental healthcare landscape in the MENA region. This considerable Series A funding amplifies its mission of making dental healthcare more affordable and accessible, demonstrating the practical outcome of patient and dentist engagement that has been integral to UDENZ’s success.

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Business

Forbes unveils MENA’s Trailblazing Women in Tech

Selected from a vast pool of talent, the top 20 entries have astounded investors and consumers with their exceptional achievements, securing external funding and generating impressive revenues…reports Asian Lite News

As MENA continues to evolve as a hub for visionary female founders igniting a technological revolution, Forbes Middle East has released its annual ranking of the most successful 20 Women Behind Middle Eastern Tech Brands for 2023. These remarkable entrepreneurs have not only established robust tech-enabled platforms but are also pushing the boundaries of creativity, innovation, and impact in their respective industries.

Selected from a vast pool of talent, the top 20 entries have astounded investors and consumers with their exceptional achievements, securing external funding and generating impressive revenues. Forbes Middle East’s evaluation encompassed a comprehensive assessment of their entrepreneurial prowess, weighing their ability to create waves in diverse sectors such as Fintech, e-commerce, logistics, agri-tech, healthtech, and proptech, among others. The 20 entries were evaluated based on the amount of external funding they have raised, as well as their creativity, innovation, impact, and revenues.

The U.A.E. reigns as the preferred home for these companies with 11 entries, followed by Egypt and Saudi Arabia with three and two, respectively. Jordanians dominate the list with four founders, followed by Egyptians, British, and Turkish, each with two founders. Among the 20, 15 listees have more than one founding member.

Four of the top five women behind tech brands operate in the U.A.E. For the second consecutive year, iMile’s Founder & CEO Rita Huang Zhen tops the ranking. Between 2018 and 2023, the logistics player expanded its presence to 14 countries, with the most recent expansion being into Poland and Australia in 2023. Mumzworld’s Mona Ataya and Leena Khalil and agri-tech RedSea’s Derya Baran round up the top three. Proptech Rent Now Pay Later platform PRYPCO, established by Amira Sajwani, is the youngest tech company to feature on the list.

Top 5 Women Behind Middle Eastern Tech Brands 2023

1 | Rita Huang Zhen

  • Brand: iMile
  • Category: Logistics
  • Established: 2017
  • Nationality: Chinese
  • HQ: U.A.E.

2 | Mona Ataya & Leena Khalil

  • Brand: Mumzworld
  • Category: E-commerce
  • Established: 2011
  • Nationality: Palestinian; British
  • HQ: U.A.E.

3 | Derya Baran

  • Brand: RedSea
  • Category: Agri-tech
  • Established: 2018
  • Nationality: Turkish
  • HQ: Saudi Arabia

4 | Nour Sleiman  

  • Brand: Cartlow
  • Category: E-commerce
  • Established: 2019
  • Nationality: Spanish  
  • HQ: U.A.E.

5 | Ioanna Angelidaki

  • Brand: InstaShop
  • Category: E-commerce
  • Established: 2015
  • Nationality: Greek
  • HQ: U.A.E.

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Africa News Business UAE News

MENA’s e-com sector on pace to reach $57 bn by 2026

Marius Ciavola, CEO of Tradeling commented, “The unfortunate circumstances of the pandemic saw international interest in e-commerce exponentially increase…reports Asian Lite News

Tradeling, the largest business-to-business (B2B) marketplace in the Middle East and North Africa (MENA), cites that global e-commerce retail sales are expected to reach nearly $7 trillion by 2024. The global forecasted growth rate for 2023 is 8.9%, bringing e-commerce sales worldwide to $5.9 trillion in 2023 to reflect a 1.8% increase from last year. 

The MENA region, which saw its market size reach $37 billion in 2022, is contributing to the projected growth of the overall sector. The region’s e-commerce market size is estimated to reach $57 billion in 2026 with Tradeling at the helm of its growth. 

Multiple factors have contributed to this forecast including the conclusion of the COVID-19 pandemic, the region’s strong economic stability, modern infrastructural development, innovative technological advancement, and several government-led initiatives. Furthermore, the rise of apps that are dedicated to easy and fast e-commerce services is proving to be a driving catalyst as digital usage skyrockets.

Prior to the COVID-19 pandemic, MENA’s e-commerce sector was expected to reach $20 billion in value. However, the onset of a lockdown with heavy reliance on online shopping saw  91% of consumers in the region become digital converts. This more than doubled previous expectations to elevate MENA’s e-commerce value to $55 billion in 2020. The 2024 expected rate of the global e-commerce industry is $6.07 trillion, which is in line to reach an estimated projection of $7 trillion globally by 2026. As it relates to the UAE, the country has been cited as the world’s fastest-growing e-commerce market not only in MENA but across the globe. 

Marius Ciavola, CEO of Tradeling commented, “The unfortunate circumstances of the pandemic saw international interest in e-commerce exponentially increase. The MENA region has become a major contributor to this upward trajectory, and the UAE has stood at the forefront to spur this momentum. With the country making great innovative, technological, and financial strides and investments in the industry, the region is well-positioned to contribute a significant amount of value to the projected global growth of the industry. With the convenience and ease that e-commerce brings to customers, it is further enhancing the industry’s upward mobility and stability, and this trend will hold steady as the world continues to evolve in digital nature.”

As MENA’s dominant B2B marketplace, Tradeling is shaping the future of e-commerce in the UAE. The company has grown rapidly since its inception three years ago with a wide selection of more than 1.7 million unique products across 14 categories and more than 200,000 registered buyers and sellers from 55 countries. Partnerships with local entities such as Wio Bank and Food Tech Valley, as well as global ones like Mastercard, are further solidifying Tradeling’s presence while simultaneously helping to prop up the country’s economy.

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Business

India emerges as preferred real estate hub for GCC

Turkish Real Estates Resurrect

The Indian real estate market is expected to grow at a healthy pace in the future. As the population grows and incomes rise, demand for real estate is expected to increase…reports Asian Lite News

India is fast becoming the preferred real estate investment destination for GCC-based NRIs. This is largely due to the country’s booming economy, growing population, and relaxed foreign investment policies. Additionally, the Indian government has implemented various initiatives to make it easier for NRIs to purchase property in India. These include providing tax breaks and offering special financing options for real estate purchases. Furthermore, the Indian real estate market offers attractive returns and potential for capital appreciation, making it a lucrative investment opportunity for GCC-based NRIs. With the Indian real estate sector showing immense potential, GCC-based NRIs are increasingly looking to India for their real estate investments.

WHAT IS DRIVING GCC-BASED NRIS TO INVEST IN INDIAN REAL ESTATE?

The Indian real estate market has seen tremendous growth in the last few years, due in part to strong economic growth, rising disposable income levels, and a growing population. Also, the real estate market in India is highly attractive, with high returns and a long-term investment perspective. Moreover, the Indian real estate sector is experiencing a healthy level of foreign interest, which creates a great deal of interest among GCC-based NRIs. Though the demand for real estate in the country is relatively high, the supply of real estate is also increasing at a healthy pace, pushing up prices. This is expected to further increase the appeal of real estate as an investment option for GCC-based NRIs.

What are the benefits of investing in Indian real estate for GCC-based NRIs?

Real estate investments in India are highly lucrative. Various studies have found that, over a period of 10 years, an average real estate investment in India could generate a return of 15% per annum. Moreover, the investment can yield a positive profit even after 15 years, making it a great long-term investment option. Real estate investments in India can also offer significant tax benefits.

Sharing insights Aakash Ohri, Group Executive Director and Chief Business Officer, DLF Ltd, one India’s largest listed real estate developer said shared “In the past two years, we’ve witnessed a rise in the number of NRIs looking to own a home back in India and the pent-up demand has begun to come to the fore. With the appreciation in the property prices, they have historically received and will continue to expect a handsome return on their investment. Due to a strong emotional bond, many Indians living in GCC countries are investing in their homeland as an option to come back and settle down in the future, but most of them are also buying homes purely as an investment option. Factors like a simplified taxation regime and indexation benefit for properties held in India encourage NRI buyers to park their surplus money in India.”

The Indian government’s initiatives to make it easier for NRIs to purchase property in India

The Indian government has implemented various initiatives to make it easier for NRIs to purchase property in India. For instance, the government has made it easier for NRIs to get a real estate investment license, introduce a negative equity facility for real estate purchases, and provide interest-free loans for self-financing real estate transactions. These initiatives have increased the ease of doing business in the real estate sector and made it more attractive for NRIs. Moreover, there are a number of real estate companies that provide services such as property financing, tax consultancy, etc., for NRIs and expatriates, making it easier for you to invest in Indian real estate.

The potential of the Indian real estate market

The Indian real estate market is expected to grow at a healthy pace in the future. As the population grows and incomes rise, demand for real estate is expected to increase. This will further increase the demand and raise the prices of real estate. Moreover, the Indian government is increasingly turning its focus to improving urban infrastructure, realising the importance of housing for urban development. This, coupled with favourable tax laws, is expected to positively influence the real estate market in India in the future.

The growing interest in real estate among GCC-based NRIs is attracting significant attention from the Indian real estate sector. With rising incomes, growing population, and favourable policies, the Indian real estate market is expected to grow rapidly in the future. This growth will make the real estate sector even more attractive for investors, resulting in sustained appreciation in prices. Real estate investments in India can be highly profitable and provide significant tax benefits for NRIs looking to invest abroad.

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Arab News Saudi Arabia

GWPR MENA announces Louise Jacobson as new Board Member

GWPR MENA board members also includes co-chair, Loretta Ahmed, Founder and CEO of Houbara Communications, Naamat Baradhy Senior Advisor at ManaraGlobal and Purti Simon Vice President at Teneo…reports Asian Lite News

The Middle East and North Africa (MENA) Chapter of Global Women in PR (GWPR), a global membership organisation connecting women in senior PR and communications roles, announces that Louise Jacobson, Managing Partner of Brazen MENA, has joined as a new board member.

Jacobson has 21 years of experience in communications in the UK and GCC. In 2015 she launched Brazen MENA, a multi-award award-winning PR agency based in Dubai Media City.

Rachel Dunn, GWPR MENA Co- Chair and Communications Director at Microsoft MENA, said: “We are delighted to have Louise Jacobson join GWPR MENA as a Board Member. We look forward to benefitting from her rich experience, knowledge and insights in the communications field as we continue our mission to provide effective support to our talented female leaders across the region.”

Louise Jacobson said: “I am excited and honoured to be on the Board of GWPR MENA as I’m hugely passionate about women in business, leadership, and communications, and tackling the issues that matter to us as we collectively strive for gender balance.

“Having been a member since the MENA chapter was launched some years ago, the strides the organisation has made to connect women in our industry have been impactful in so many ways, and I’m very much looking forward to helping take GWPR MENA to the next level.”

GWPR MENA board members also includes co-chair, Loretta Ahmed, Founder and CEO of Houbara Communications, Naamat Baradhy Senior Advisor at ManaraGlobal and Purti Simon Vice President at Teneo.

Applications for GWPR MENA memberships can be made by emailing hello@globalwprmena.com.

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