Tag: MIDDLE EAST

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-Top News UAE News

EDB named best micro finance bank in Middle East

The bank provides advisory and training, sharing knowledge and guidance to support companies to kick-start their business and become more bankable in terms of setting up and managing their finances…reports Asian Lite News

Emirates Development Bank, one of the key financial engines for the economic development and industrial advancement of the UAE, announced its recognition for Best Micro Finance Bank in the Middle East by the 2022 Global Banking & Finance Awards.

The Global Banking & Financing Awards is a global and respected institution, honouring top performers amongst banks and other financial services providers that stand out across certain categories of specialty.

Through annually recognising companies of all sizes and financial institutions which are prominent in specific areas of expertise within the financial industry, the awards have become a trusted standard of excellence for the global financial community.

The Best Micro Finance Bank Middle East 2022 award falls under the Micro & SME Banking Awards, further showcasing EDB’s continuous efforts towards the UAE’s economic development and its support for empowering Micro SMEs (mSMEs).

As the UAE’s development Bank, EDB provides a wide range of financial solutions specifically tailored to cater to the needs of mSMEs. Favourable financing is available in the form of direct financing, and in partnership with Fintech company Beehive, EDB launched a microloans service, allowing mSMEs that fall within the bank’s five key priority sectors to apply and receive approval for loans of up to AED 5 million within five days. In addition to this, the Bank actively seeks partnerships with entities such as free zones, DEDs and GREs to ensure that the financing solutions offered meet the needs of mSMEs.

To further support both mSMEs and start-ups to getting easy access to opening up bank accounts, EDB launched the Business Banking app in collaboration with YAP, a free centralised digital platform, where businesses can register and receive an IBAN within 48 hours. In addition to its financial services, non-financial services are also available for start-ups, through its”Business Lab” platform.

The bank provides advisory and training, sharing knowledge and guidance to support companies to kick-start their business and become more bankable in terms of setting up and managing their finances. It is also a key priority as the UAE’s development bank to support Emirati Entrepreneurs by providing “start-up financing”, where the bank provides financial support that is needed to help them with their business idea and sustainability across all sectors.

SMEs characterise around 94 percent of the current operating companies across the UAE, capably securing jobs to more than 86 percent of the workforce in the private sector. That said, such financial institutions certainly partake in the UAE’s vision in becoming a diversified economy identified as a global investment hub.

EDB has performed well as of Jan-Sep 2022, as they successfully on-boarded 1,377 customers through its digital banking app and have approved AED 4.4 billion in loans, AED 1.3 billion of those loans went to SMEs in the UAE.

Commenting on the Bank’s achievement, Ahmed Mohamed Al Naqbi, Chief Executive Officer of EDB, said, “This award marks a major milestone for EDB and is in line with its strategy and commitment towards the nation’s developmental agenda. mSMEs are slowly becoming the backbone of the UAE’s economy and contribute to the nation’s economic diversification and industrial advancement.

“We will continue to seek opportunities and partnerships to further enhance the growth of mSMEs in the UAE through partnerships and collaborations, in addition to supporting the UAE’s ambition in becoming one of the most innovative countries in the world and the financial hub of the MENA region.”

ALSO READ-UAE to host World Amateur Golf C’ships for first time in Middle East

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Africa News UAE News

ME & North Africa getting it’s first-ever standalone Disney Store

John Hadden, Alshaya Group CEO, said: “We are incredibly proud to be bringing the region’s first standalone Disney Store to Kuwait, our home market…reports Asian Lite News

It’s the moment we’ve all been waiting for! The Walt Disney Company Middle East and Alshaya Group have announced the opening of the Middle East’s very first standalone Disney Store. Spanning over 800sqm, the store is set to open its doors this November at The Avenues in Kuwait, bringing a magical experience to the Middle East, beyond your imagination.

John Hadden, Alshaya Group CEO, said: “We are incredibly proud to be bringing the region’s first standalone Disney Store to Kuwait, our home market.  It’s an honour to be a part of the Disney story in the region, and we know that our customers and their families will be as excited as we are ahead of the magical opening in November.”

Sonal Patel, Director – TPC MENA & Shop-in-Shop, SAMENA, commented: “We’re beyond excited to announce our very first standalone Disney Store in the Middle East. Many of our guests have a special connection with The Disney Store – whether they visited one on holiday, or had one in their hometown. The stores bring back special memories for many, and we’re so pleased to be working with The Alshaya Group to share that connection with fans in Kuwait and across the Middle East. We cannot wait to open our doors to the first-ever Disney Store in the region!”

The store has something for Disney fans of all ages, with lines exclusive to the Middle East, as well as a wide-range of products from your favorite Disney, Pixar, Marvel and Star Wars characters and movies. This includes costumes and accessories, toys and plushes, home décor and collectables, as well as apparel for both children and adults  which you can try on in one of the beautifully character-themed fitting rooms!

And the fun doesn’t stop there. The store will also feature a brand new design for the very first time. Don’t miss 3D sculptures of your favorite characters, like Simba from The Lion King and Elsa from Frozen, as well as beautifully created wall murals, designed especially for this store. Every detail will transport you to the wonderful world of Disney don’t forget to look out for the hidden Mickeys!

Stay tuned for an array of fun surprises, special guests, and Disney magic to mark the occasion. Until then, Disney friends across the region can visit over 30 Disney Store shop-in-shops across Kuwait, Saudi Arabia, Qatar, and the UAE. Located inside Alshaya-owned Debenhams and Mothercare stores, there’s a little magic for everyone across the Middle East.

ALSO READ-Disney+Hotstar subscriber base swells

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Arab News Saudi Arabia

Middle East ranks second in data breach losses

As outlined by the study, the global average cost of a data breach has reached an all-time high of $4.35 million for surveyed organisations…reports Asian Lite News

The Middle East region has incurred heavy losses from data breaches this year making it second only to United States on the list, according to a study published by IBM, the leading global technology company.

According to IBM Security’s annual Cost of a Data Breach Report, the Middle East has incurred losses of SR28 million ($7.45 million) from data breaches in 2022 alone — this figure already exceeds the total amount of losses accrued in each of the last eight years.

According to Arab News, the latest edition of the Cost of a Data Breach Report reveals costlier and higher-impact data breaches than ever before.

As outlined by the study, the global average cost of a data breach has reached an all-time high of $4.35 million for surveyed organisations.

In fact, 60 percent of studied organisations raised their product or services prices due to the breach, when the cost of goods is already soaring worldwide amid inflation and supply chain issues, the Arab News reported, citing the study.

Meanwhile, the report ranks the Middle East among the top five countries and regions for the highest average cost of a data breach.

As per the study, the average total cost of a data breach in the Middle East amounted to SR28 million in 2022, the region being second only to the US on the list. The report also spotlights the industries across the Middle East that have suffered the highest per-record costs in millions, with the financial (SR1,039), health (SR991) and energy (SR950) sectors taking first, second and third spots, respectively, it was reported.

“Today, more so than ever, in an increasingly connected and digital age, cybersecurity is of the utmost importance,” said Fahad Alanazi, IBM Saudi general manager. “It is essential to safeguard businesses and privacy. As the digital economy continues to evolve, enhanced security will be the marker of a modern, world-class digital ecosystem.”

He said, “the findings reiterate just how important it is for us, as a technology leader, to continue pioneering solutions that will help the Kingdom distinguish itself as the tech capital of the region.”

ALSO READ-Forbes unveils Middle East’s Top 30 Banks 

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STARTUPS News UAE News

ME startups pitch at SPARK ignite in Amsterdam

The startup has recently also won a booth at Italy’s Web Marketing Festival, as part of the Startups Without Borders Delegation…reports Asian Lite News

Startups Without Borders and SPARK have just concluded the semi-finals of the Startups on the Move Incubation program, where 10 startups from Palestine, Lebanon and Iraq qualified to travel to Amsterdam for the Final Pitch Competition, at the SPARK Ignite Conference.

The incubation program, built with support from Google, kicked off last April to take 130 startups from Palestine, Iraq, and Lebanon through a journey to transform their ideas into thriving businesses. 

The program is the first of its kind in the region, devoted to refugee and local entrepreneurs who are building ventures against the odds with resilience and grit. Hailing from remote areas such as the Gaza strip, war-torn Mosul, and Saida, the startups are innovating across industries as diverse as CleanTech, EdTech, VR, and AgriTech.

Through a series of online training sessions, a network of 100+ international mentors, and networking events in Ramallah, Beirut and Erbil, the incubation program harnessed the ingenuity of diverse founders, connecting them to a global network of entrepreneurs, investors and mentors.

The semi-finals, held on 1-3 August online, included a high-profile panel of judges, including Muneer Zuhdi, CTO of Nokia Enterprise China, India, and MEA; Nicholas Rouhana, Chairman and CEO of IM.FNDNG, Victoria Mehran, Venture Partner at Expert Dojo, Sofia Queiroz, VC at Mustard Seed Maze, Ahmed Eid, Portfolio Manager at 500 Global, and Diego Arias Garcia, Investment Associate at Plug and Play.

The 10 semi-finals are now headed on an all-expense paid trip to Amsterdam, where they will pitch during SPARK’s Ignite conference on September 13th, for a $10,000 cash prize for first place, and $5,000 for second place.

From Agri-tech disruptors to EdTech pioneers, these are the four startups taking off to the Netherlands:

  • DonaLeb, Lebanon

Founded by Yasmine Darwich, DonaLeb is the fitness and wellness app that helps businesses engage their teams and nonprofits to fundraise. We create gamified virtual challenges to connect companies with CSR while they promote health and wellness in their teams. The startup has recently also won a booth at Italy’s Web Marketing Festival, as part of the Startups Without Borders Delegation.

“DonaLeb’s experience with Startups Without Borders has been more beneficial to us than words could express, providing us with opportunities we could have only dreamed of. Reaching the final stage is only our first step though; here’s to collecting more and more,” says Yasmine.

  • Nabeeh, Palestine

Nabeeh is a Web and Mobile App platform for users to get on-demand home and Healthcare quality services conveniently. The startup, led by brothers Fawaz and Saber Samara, raised their first investment round during the incubation program and began expansion to Saudi Arabia.

  • Green Gold, Iraq

Green Gold creates organic compost and potting soil for Farmers and local agriculture suppliers to fulfill the need for compost and reduce food waste pollution. 

“I am proud to be part of the program; it had a very positive impact on the project’s vision in various aspects, as the goals developed and helped me discover new channels in the local and international market,” says founder Marwah Read Taha.

“As the only qualified founder from Iraq, I believe this competition will help the expansion of the project to increase productivity and environmental awareness in Iraq, thus creating more job opportunities for women and encouraging young people to engage in green entrepreneurship,” she concludes.

  • SunCode, Lebanon

Suncode is developing a convective solar drying machine allowing a safer, faster, and easier drying of food products than the conventional drying method used currently, with zero operational cost.

“The idea came up while working with farmers, as I noticed that the biggest problem they have is the overproduction – which leads to them selling produce at the cheapest prices,” says founder Haydar Mohamad Sleiman. “So we came up with this solution to produce dried vegetables, increase their income and save their crops,” he explains.

  • Blue Filter, Palestine

Blue Filter is a chemical-free, environment-friendly system developed to purify underground water from nitrates and salts. Blue Filter presents a simple and cheap solution for sanitizing water,  decreasing the percent of Nitrate from 100% to 2 % and chloride from 100% to 40 % for farmers, through environmentally friendly methods.

  • CONCAT, Lebanon

CONCAT is the first women-led Web Development Agency which aims to create top quality websites whilst providing long term, sustainable employment for talented, marginalized communities.

“The program has been a great opportunity for the CONCAT team, especially when it comes to developing our business model in the sessions. We’ve really enjoyed connecting with all of the other amazing startups who are all so aligned with our mission of creating sustainable employment for marginalized people, says founder Laura Jardine Paterson.

  • Hala Trips, Palestine

Hala Trips is an Arabic language platform for booking tours and hotels in over 1.7M Hotels around the world. “We are very happy to have won amongst a large number of participants and the very strong competitors in this special program; we are now excited to win in Amsterdam,” said founder Razan Abutawaheena, who is based in Gaza.

  • Dooda Solutions, Lebanon

Founded by Nada Ghanem, Dooda Solutions is a woman-led earthworm farm specialized in raising worms and producing premium grade vermicompost.

  • Eyiada, Palestine

Eyiada is a medical platform that connects patients with the most suitable healthcare providers according to their customized cases, allowing them to have online medical consultations with them and making quality healthcare more accessible and convenient.

“I’m very excited to present our startup internationally in Amsterdam and take it to the next level. It was one of my hardest pitching competitions. For me, being a Palestinian under Israeli occupation, this opportunity is a small attempt to break down our borders of restricted mobility and lack of opportunities. We’re working to bring down our own walls and set forth in a new era of innovation and entrepreneurship,” says founder Momen Abusaada.

  • Sook.ps, Palestine​​​​​​​​​​​​​​

Full E-commerce Platform that allows customers to find their desired products in a safe and entertaining way, while also enabling vendors to expand their markets and boost their sales.

The final pitching event will take place on September 13th during the IGNITE Conference, and will be streamed live on Startups Without Borders’ Facebook page and Instagram

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-Top News Arab News

Jeddah Summit vows to protect security and stability in ME

They also voiced their support for efforts to guarantee that the Gulf remains free of mass destruction weapons…reports Asian Lite News

A statement was announced following the “Jeddah Summit for Security and Development,” emphasising the importance to take the required measures to protect the security and stability in the Middle East, the Saudi Press Agency reported.

Hosted by Saudi Arabia, the summit was attended by leaders of the Gulf Cooperation Council, Egypt, Iraq, Jordan and the US.

The summit reviewed global challenges and regional affairs, while the leaders reaffirmed their commitment to guarantee the region’s security and stability, Xinhua news agency reported.

They also voiced their support for efforts to guarantee that the Gulf remains free of mass destruction weapons.

US President Joe Biden participated in the summit on the last day of his Middle East tour, which also included Israel and the West Bank.

ALSO READ-Jeddah Season receives 6 million visitors

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-Top News Arab News USA

US won’t walk away from Middle East: Biden

US President Joe Biden

While meeting Arab leaders at the Saudi summit, Biden laid out his strategy for the Middle East, reports Asian Lite News

US President Joe Biden, who is on a visit to Saudi Arabia, said the United States “will not walk away” from the Middle East and leave a vacuum to be filled by China, Russia or Iran, media reports said.

While meeting Arab leaders at the Saudi summit, Biden laid out his strategy for the Middle East. Notably, this is the final leg of Biden’s four-day trip which is meant to bolster ties in the region.

The summit took place in Saudi Arabia’s Red Sea city of Jeddah on Saturday where Biden spoke extensively of the importance Washington pays to the region.

Leaders of six countries of the Gulf Cooperation Council (GCC) – Saudi Arabia, Qatar, Bahrain, Kuwait, Oman and the United Arab Emirates – plus Jordan, Egypt, and Iraq are holding talks on regional security and bilateral relations with the United States at the summit, reported Al Jazeera.

“We will not walk away and leave a vacuum to be filled by China, Russia or Iran,” Biden said adding “We will seek to build on this moment with active, principled, American leadership.”

Jeddah Security and Development Summit (Photo: SPA)

“Today, I am proud to be able to say that the eras of land wars in the region, wars that involved huge numbers of American forces, is not underway,” he said.

Biden urged his counterparts to ensure human rights, including women’s rights, and allow their citizens to speak openly. “The future will be won by the countries that unleash the full potential of their populations,” he said, including allowing people to “question and criticise leaders without fear of reprisal.”

Earlier on Saturday morning, the US president held individual meetings with the leaders of Iraq, Egypt and the UAE, as per the media portal.

Meanwhile, Saudi Arabia and the United States agreed on Friday to strengthen cooperation in the fields of 5G networks, cybersecurity, space exploration, and public health, Al Arabiya News reported.

The agreements were made on the sidelines of US President Joe Biden’s first state visit to the kingdom, where he met with top Saudi officials to review the kingdom’s defensive needs and the importance of global energy security.

US President Joe Biden arrives to participate in the Jeddah Security and Development Summit. (Photo: SPA)

In a statement after the meetings, Biden welcomed Saudi Arabia’s fresh signing of the NASA-led Artemis Accords, an outer space exploration treaty, saying the United States “reaffirms its commitment to the responsible, peaceful, and sustainable exploration and use of outer space.”

The US president praised the role the kingdom played in supporting the UN ceasefire efforts in Yemen. The visit to Saudi Arabia is the last destination of Biden’s first Middle East tour as US President.

The diplomatic tour, which started on Wednesday also covered Israel and the West Bank.

The improvement of the relations between Israel and Saudi Arabia is another key development. Israeli officials lauded on Friday Saudi Arabia’s decision to open its airspace to “all carriers,” including those from Israel, as a sign of the budding normalization process between the two countries.

Just ahead of Biden’s visit on Friday, the Saudi General Authority of Civil Aviation tweeted that the kingdom has decided to open its airspace “to all carriers that meet the authority’s requirements for overflying,” with no specific reference to Israel.

Israeli airlines had been banned by Saudi Arabia from flying over the kingdom’s airspace, making flights between Israel and Asia longer and costlier. (ANI)

Glimpses from the summit:-

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Biden supports MBS’ Vision 2030
KSA-USA: A historic relationship and a strategic partnership

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-Top News Arab News USA

Palestinians not keen on Biden ME visit

Biden’s visit won’t make breakthrough in resolving Palestinian-Israeli conflict … writes Saud Abu Ramadan, Emad Drimly

The upcoming visit of U.S. President Joe Biden to Israel and the Palestinian territories won’t make any “serious breakthrough” in resolving the Palestinian-Israeli conflict, Palestinian analysts said.

The Biden administration is not serious about finding political solutions to the Palestinian cause and tries to focus on improving the economic conditions of the Palestinians while maintaining Israel’s grip over Palestinian security, they said.

Ahmad Rafiq Awwad, a political science professor at the Al-Quds University, said the Palestinians do not expect a breakthrough or a significant shift in the U.S. policy toward the Palestinian cause or even the Palestinian-Israeli conflict.

“All we heard from Washington is that it supports the two-state solution,” he said. “It’s just statements, as they did not specify when, how, where, and what are the mechanisms to embody it on the ground.”

Awwad called on the United States to take concrete steps before Biden’s visit, such as removing the Palestine Liberation Organization (PLO) from the terrorism list, reopening the PLO office in Washington and the U.S. consulate in East Jerusalem, and resuming aid to the Palestinian Authority.

“These are promises made by the U.S. government but have not been implemented so far,” he told Xinhua.

Awwad predicted that Biden might announce that he would provide the Palestinians with financial incentives and take symbolic steps that do not upset the Israelis, such as the expansion of Palestinian geographical jurisdiction in some areas of the West Bank, a specific settlement freeze, and symbolic supervision of border crossing points.

“The U.S. government suffers from weakness, confusion, hypocrisy,” he noted, adding Biden’s visit was mainly intended to boost his party’s electoral advantage by focusing on Israel’s security.

Nearly 29 years after signing a peace agreement with Israelis to put an end to decades of hostilities between the two sides, the Palestinians have become more and more frustrated with the U.S. policy. Because of significant disagreements over security, Israeli settlement expansion, and the establishment of a Palestinian state on the 1967 borders with East Jerusalem as its capital, the peace negotiations between Israel and the Palestinians, sponsored by Washington, have stalled since March 2014.

Biden’s visit to the Palestinian territories “is secondary and on the sidelines of the real goals of his tour,” said Abdulmajid Sweilem, a political analyst from the West Bank city of Ramallah.

He said the visit “is a political courtesy,” during which Biden is expected to “repeat Washington’s old slogans of adhering to the two-state solution and protecting the Palestinian people’s right to dignity and security, among other cliches.”

“Ultimately, these cliches mean improving the lives of the Palestinians under the framework of Israeli domination and limited Palestinian self-rule,” said Sweilem.

In a phone call with U.S. Secretary of State Antony Blinken on June 30, Palestinian President Mahmoud Abbas said he was looking forward to creating a political horizon for achieving a just and comprehensive peace based on the international resolutions and the two-state solution.

Abbas hoped Biden’s visit would help boost the two-state solution, and stop Israel’s settlement expansion and expulsion of Palestinians from their homes in East Jerusalem. But Palestinian analysts deeply doubted the U.S. leader will do so.

Talal Okal, a Gaza-based political analyst, believed Biden is aware that the time “is not yet ripe for launching a peace process in the region” with regard to the Palestinian-Israeli conflict.

“Because of a number of factors, including the failure of previous U.S. governments in this test, the Palestinian-Israeli issue does not constitute any priority in U.S. foreign policy,” Okal told Xinhua.

Biden prioritizes other concerns over the Palestinian-Israeli conflict because they are more urgent to him on both domestic and international levels, he noted.

ALSO READ-Biden may resume arms sales to Saudi Arabia

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Lite Blogs UAE News

Mentorship Forum Middle East announces NBB as lead partner

Mentorship Forum Middle East

The Forum will once again take place in the Kingdom of Bahrain as a hybrid event, with physical and online attendance, and is set to be held in December 2022…reports Asian Lite News

Mentorship Forum Middle East(MFME) today announced that the National Bank of Bahrain (NBB) has joined the upcoming 2022 edition of the event as Lead Partner for the third consecutive year.  NBB has played a strategic role in the Forum’s success in 2019 and 2021 and is set to work closely with the Forum’s Organising Committee to deliver another timely and relevant event aimed at supporting the career progression of professionals and helping organisations meet their talent development goals. The Forum will once again take place in the Kingdom of Bahrain as a hybrid event, with physical and online attendance, and is set to be held in December 2022.

Leveraging its expertise and success in mentorship, NBB will join the Forum’s “Think Tank”, an advisory group assembled each year to design the agenda and ensure the most pressing themes and topics of the day are covered. Among the topics to be addressed by the Forum will be continued education of audiences on the importance of mentorship and its effectiveness in training the next generation of business leaders, looking at how the Covid-19 pandemic has continued to impact training and development goals and progression as well as sustainably and climate transition and how organisations and mentors are preparing to meet this important challenge and opportunity.  

The Forum will once again feature participation from top regional and international speakers and attendees with last year’s event having welcomed more than 300 senior HR and mentorship experts as well as C-suite leaders from across sectors in person and online.

Commenting, Mr. Jean-Christophe Durand, NBB’s Chief Executive Officer said, “We are pleased to support Mentorship Forum Middle East as its Lead Partner for a third year. Since the Forum’s inception, we have remained committed to elevating the position of mentorship as a critical tool both for the economy as well as for NBB. We are very proud to be in the third year of successfully running our own internal mentorship scheme that has seen approximately 200 young up-and-coming leaders take part throughout the duration of the scheme. We look forward to another engaging event and to bringing together mentorship and development experts to exchange our experiences and discuss how mentorship can be used to address organisational training needs and those of the young professionals whose progression we are dedicated to fostering and accelerating in the years ahead.”  

Adding, Ms. Zahraa Taher, Managing Director of FinMark Communications, the Forum’s founder and organiser, said, “We couldn’t be more delighted to announce NBB as the Forum’s Lead Partner for a third year running. Their input and support has been invaluable in creating the region’s go-to-event for mentorship and we couldn’t be more proud to have them join us once again this year. Working with their senior management team and HR experts, and alongside our other partners and contributors, we are planning another dynamic event that can help put mentorship at the heart of professional development across the region.”

More details on the Forum will soon be announced. To learn more about opportunities to join the Forum’s partners and sponsors or to sign up to take part, please contact FinMark Communications on +973 17749759 or info@mentorshipme.com.

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Arab News UAE News

AED21bln UAE packaging market in 2026 to lead future growth of the sector in ME

AED21bln UAE packaging market in 2026 to lead future growth of the sector in ME

Changing consumer demographics and consumption are driving important changes that will reshape the packaging business in the Middle East, with the UAE expected to lead the growth of the industry in the next five years.

As the UAE’s packaging industry is set to grow to an estimated AED21 billion market value in the next five years, according to a report published by Mordor Intelligence, packaging industry stakeholders are gearing up to showcase the latest technologies and innovations that will leverage this potential for growth at the forthcoming Gulf Print and Pack, the Middle East’s leading trade show for commercial and package printing scheduled on May 24-26, 2022 at the Dubai World Trade Centre.

Among the factors that will drive the forecasted growth in the UAE and the wider region is rapid urbanisation, which normally translates to increased consumer spending and production of consumer goods.

“In highly urbanised markets, especially these days, people are consuming products  on-the-go, which require packaging solutions that are convenient and portable; or products that can be consumed immediately, which will then need microwavable packaging. These solutions and other innovations will be on spotlight at the show, with leading local and international brands showcasing their latest machineries that will play a part in the realisation of the region’s growth potential,” said Barry Killengrey, show director, Gulf Print and Pack.

Referencing the report, Killengrey says other important trends influencing the growth of the packaging industry is increased online retail purchases, as well as the continued recovery of the F&B sector, especially the last-mile delivery market, which demand innovative packaging solutions that help drive a better consumer experience.

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Among the companies confirmed to exhibit at Gulf Print and Pack is Labelgraff, a company that provides solutions to print directly onto packaging materials, enabling FMCG companies  to make their packaging more sustainable, and solve their challenges in marketing, branding, and labeling inhouse. “Direct-to-Package is the new concept we are introducing this year, a new system for short-run packaging, with vacuum conveyor and single pass inkjet head to print directly on bags, boxes, packages and other packaging materials,” said Amjad Ashqar, Product Manager at Multisystem Technology.

For Jayakrishna Valluru, General Manager, Age Graphics, the trend to “Go Green” is the key business driver for the printing and packaging industry this year. “The industry needs to adhere to the government regulations on ‘single-use plastic’, which will have a massive impact on the industry in terms of providing environment-friendly products to its consumers. Our focus is to get environment-friendly materials/machines that will help the packaging/printing industry with their sustainability objectives. We have recently installed our first bag-making machine for this year and are currently in talks with almost ten prospective customers for similar sales and installations.”

With exhibitors from over 20 countries, Gulf Print and Pack is set to attract visitors from around the world who are looking to discover the latest printing and packaging solutions to add value to their business and their customers. The show is free to attend with online registration still open at www.gulfprintpack.com.

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Europe

Europe turns to Middle East, Mediterranean for oil

He also admitted that the previous German government had made a mistake by becoming so dependent on Russian gas supplies…reports Asian Lite News

As the war in Ukraine rages on, leaders of European countries, notably Germany, have come to realize that they made a serious mistake by becoming so dependent on Russian energy. Currently, Europe depends on Russia for roughly 40 percent of its natural gas needs, and European leaders have vowed to reduce their dependence by two-thirds.

So, European countries are feverishly trying to secure supplies from the Middle East and the Mediterranean. Energy security has become one of Europe’s top priorities, putting on the back burner the fight to contain climate change and global warming.

Of course, the gas and oil-rich Gulf Cooperation Council (GCC) members were the first countries which European leaders requested to cover the energy shortfall to be created by a future removal of Russian gas and oil from the scene.

However, GCC countries say that they are unable to significantly increase their hydrocarbon exports to Europe, due to production constraints and the fact that most of their future production is locked in long-term contracts with their clients in Asia.

In the past few weeks, Germany, the United States and the United Kingdom sent senior representatives to Saudi Arabia and the United Arab Emirates, which are major hydrocarbon producers, asking them to increase energy supplies, but their requests fell on deaf ears.

Qatar was the only country that offered some help when it diverted to Britain and Belgium six LNG tankers that were originally destined for Asia and indicated that it would increase its gas production to cover part of the shortage.

The emirate of Qatar currently supplies about 30 per cent of its liquefied gas to the European Union, but none of this goes to Germany, because it does not have LNG terminals. To correct this situation, Germany is fast-tracking the construction of two LNG terminals, but these will become operational in three years’ time.

Last month, German Economy Minister Robert Habeck during a visit to Doha said that a long-term gas supply deal has been reached between his country and Qatar and added: “We might still need Russian gas this year, but not in the future.”

He also admitted that the previous German government had made a mistake by becoming so dependent on Russian gas supplies.

It’s worth noting that US President Joseph Biden last month tried to call Mohammed Bin Salman (known as MBS) to ask Saudi Arabia to increase its oil supply, after the US formally banned Russian oil imports, but as relations between the two countries remain frosty, MBS didn’t accept the call.

Another reason for ignoring Biden is that both Saudi Arabia and the UAE believe that they are no longer supported by the US against the Houthis in Yemen and their missile attacks against oil installations in the two countries. They are also angry because Biden had delisted the Houthis as a terrorist organization.

On March 21, after three drone attacks on Saudi Aramco installations, the Kingdom of Saudi Arabia declared that it will not be held responsible for shortages in the global energy market because Houthi missile attacks will disrupt supply.

Saudi Arabia does not want to alienate Russia because it considers Moscow as a potential arms supplier, and it no longer wants to be viewed by the US (as former President Donald Trump described the Kingdom) as “a cash cow for the US defense industry.” Furthermore, it sees Russia as a major country that can exert pressure on its archenemy Iran.

On the other hand, Saudi Arabia understands that it must supply oil to some European countries because it does not want to encourage Europe to accelerate the adoption of renewable energy.

It should be noted that Saudi Arabia already covers a large part of Poland’s energy needs and last January Aramco -the Saudi state oil giant- said it had agreed to buy a 30 per cent stake in Poland’s second-largest refinery and to increase oil supplies to the state’s top energy firm PKN Orlen to 200,000-337,000 barrels per day.

Apparently, the reluctance of Gulf energy producers to substantially increase production to replace Russian gas and oil in European markets made the US and European leaders turn their attention to other possible sources of supply and particularly to the Eastern Mediterranean.

Moreover, both the EU and the US are currently re-examining the feasibility of the building of pipelines that will carry natural gas from the Eastern Mediterranean to Europe, the EastMed Pipeline, or a pipeline transporting Israeli gas to Turkey and from there to Europe.

Israeli Energy Minister Karine Elharar has recently stated that the EU requested the Israeli government to supply it with natural gas. Israel could provide Europe with 10 per cent of the gas it currently buys from Russia.

Last Tuesday, Israeli Foreign Minister Yair Lapid travelled to Athens to meet with his Greek and Cypriot counterparts, Nikos Dendias and Ioannis Kasoulides, in one of their frequent trilateral meetings focusing on energy and security matters taking place every year.

Lapid said that Russia’s invasion of Ukraine will “change the structure of the European and Middle Eastern energy markets,” adding that there are risks but the crisis also offers “opportunities which we must examine together.”

In July 2021, the Israeli government approved the 6 billion Euro EastMed project which would have created a new gas pipeline from Israel and Cyprus to Europe to lower dependency on Russian fuel.

However, it is doubtful if this pipeline will be built, as Turkey which is the largest gas consumer in the region has strong objections and the United States decided in January to rescind its support, citing economic and environmental reasons.

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