STANDPOINT by Atique Naqvi

  In 2023, more countries such as the UAE and Iran joined the BRICS group. BRICS Key to Arab Trade Diversification Strategy By Syed Atique Hussain Naqvi, Toronto, Canada  As global business and economic dynamics constantly evolve, countries are increasingly diversifying their trade relations to protect their interests. The Arab world is no exception. Economic powerhouses like Saudi Arabia and the United Arab Emirates (UAE) have been expanding their strategic business partnerships with major economies such as China, Russia, and India, while maintaining strong ties with traditional partners like the European Union, the United States, and other nations in the Americas. The leadership in these Arab nations envisions rapid economic growth over the next 10 to 20 years, which will require additional partners to drive foreign investment and trade. This forward-looking approach is evident in the UAE’s recent involvement with BRICS. During a visit to Russia for the BRICS Summit in Kazan...

  Dubai: Unified approach key to resolve future challenges Syed Atique Hussain Naqvi, Davos Switzerland  Amid discussions on economic policies, the climate crisis, and the ever-evolving landscape of artificial intelligence at the World Economic Forum (WEF) in Davos, Executive Editor of TRENDS news media Syed Atique Hussain Naqvi interviewed Khalfan Belhoul, CEO of the Dubai Future Foundation. He shared his insights on the urgent need for a unified approach to address global challenges, ranging from climate issues to policy frameworks and the governance of emerging technologies like generative AI. As the world confronts numerous challenges, Belhoul emphasized the critical importance of developing unified solutions. Climate change and AI regulation have emerged as pivotal issues requiring collaborative efforts and innovative strategies. In our exclusive interview, Belhoul shed light on how the Dubai Future Foundation plans to navigate these challenges in 2024 and the...

  Business-based peace initiatives to ease tensions, says UAE business leader Syed Atique Hussain Naqvi, Riyadh, Saudi Arabia Tensions arising from conflicts like the Ukraine-Russia war and the Gaza crisis are affecting investor confidence and causing economic challenges in countries like Jordan, Egypt, and Israel, particularly in sectors like tourism and technology, Iyad Malas, Group CEO of Dubai-based Al Ghurair Group, told Executive Editor of TRENDS media Syed Atique Hussain Naqvi in an interview. Speaking on the sidelines of the annual Future Investment Initiative (FII) summit in Riyadh, he highlighted the significance of the event, emphasizing its role in uniting regional and global participants, especially in light of current geopolitical challenges. He noted that such gatherings are vital for fostering connections and potentially promoting peace through business. Malas also stressed the importance of digitization and technological advancements in the business worl...

  Scaramucci says strategic position makes UAE key blockchain and Web 3 player Syed Atique Hussain Naqvi, Davos Switzerland  lockchain and Web 3 are the future and that the UAE’s strategic position globally and well-designed cities of Dubai and Abu Dhabi make them critical players in the industry, Anthony Scaramucci, founder of SkyBridge Capital and former White House Director of Communications, told Executive Editor of TRENDS media Syed Atique Hussain in an exclusive interview. Expressing his opinion on the regulation of cryptocurrency in the US, Scaramucci said that the industry needs more regulation to prevent immoral and aberrant behavior. He emphasized the importance of blockchain industry leaders and associated individuals working with public servants to regulate the market. He also suggested a need for a regulatory body similar to the Securities Exchange Commission to prevent scams and immoral behavior. Excerpts: What challenges do the GCC countries — especi...

Kuwait-headquartered logistics firm Agility released its 11th annual Emerging Markets Logistics Index this week The UAE, Saudi Arabia, and Qatar are among the top 10 logistics markets in the 2020 Agility Emerging Markets Logistics Index. China and India lead the list, in first and second places, respectively. The Index, which is based on a survey of 780 supply chain professionals across 50 countries, also revealed that a big majority (64 percent) of respondents see a global recession in 2020, while only 12 percent believe that a recession is an unlikely event this year. Click here for the full story .

Dubai Frame is one among the several icons of the city. Government intervention in Dubai and Abu Dhabi’s real estate markets are likely to stimulate the sector in 2020 as opposed to the bumpy ride of 2019, according to a property consulting firm. While the Dubai government has taken steps to limit the future supply by forming Real Estate Planning Committee, Abu Dhabi opened its real estate doors to foreign investors last April. The state initiatives are likely to have a positive impact on the real estate market in 2020, said Jones Lang LaSalle (JLL) in its report titled “The UAE real estate market: A year in review 2019”. In Dubai, around 182,000 square meters of office space was delivered throughout 2019, which is the highest level of deliveries since 2015, said JLL, adding: “Although demand for office space remained weak in 2019, several initiatives have been launched by the government to boost demand and increase business activity in Dubai.” Major initiatives to boost co...

HyperloopTT will begin the process of integrating their full-scale passenger capsule for passenger trials as early as 2020 The commercial operations of super high-speed hyperloop transportation in the UAE’s capital are likely to be realized only by 2023, however, the trial runs could begin as early as 2020, Bibop Gresta Chairman of Hyperloop Transportation Technologies (HyperloopTT) told Zawya. With tubes assembled and pumps installed, HyperloopTT will begin the process of integrating its full-scale passenger capsule for passenger trials as early as 2020 for the multi-billion-dollar commercial project connecting Abu Dhabi with Dubai and Al Ain, the chairman said.. Click here to read from the original article on Zawya news website - a Thomson Reuters company.

"The private sector in the UAE should invest more in AI as no business is immune to new technologies" Artificial intelligence (AI) and data analytics in healthcare, trade, and transportation are set to boost several ancillary industries and provide huge growth opportunities for the businesses in the GCC. While the UAE government is figuring out opportunities in artificial intelligence to make targeted investments, the private sector should venture into the area more robustly as no business sector is immune from new technologies and right investments now will set the tone for future growth, according to the German-Australian scientist and AI expert Dr. Christian Guttmann. Click here to read from the original article on Zawya news website - a Thomson Reuters company.

50% of government transactions to be on Blockchain by 2021. Government departments in the United Arab Emirates are adopting blockchain technologies faster than the private sector, and there are more than 30 projects under development as part of Smart Dubai initiative alone. As part of this initiative, Smart Dubai has launched a blockchain platform as a service to host government use cases, and over all there are more than 30 blockchain platforms under development. “Through this policy, government entities are encouraged to establish integration channels with the aim to improve functioning of services that cut across areas of responsibility of several entities, and increasingly to enable digital integration with the private sector,” the report said. Click here to read from the original article on Zawya news website - a Thomson Reuters company.

Jebel Ali Port in Dubai The dwindling buying power of consumers, owing to slow economic growth, is adversely affecting trading companies and putting pressure on average industrial rents in the UAE. Though rents have plunged in the first two quarters of 2019, this is seen as an opportunity for firms to scale up their businesses. Average headline industrial rents have softened in Abu Dhabi and Dubai by 12.1 percent and 4.8 percent respectively in the first two quarters of 2019, according to global real estate consulting and research firm Knight Frank. Click here to read from the original article on Zawya news website - a Thomson Reuters company.

The insurance market for small and medium enterprises (SME) in Dubai is likely to see significant growth in the first two quarters of 2020 owing to the positive sentiment around Expo 2020 and increased economic activity, a senior insurance executive said. Shrinking profits of SMEs have curtailed the spending power of such businesses in the past 12 to 24 months resulting in slow growth for SME insurance market, said a senior AXA Gulf executive. Speaking to Zawya on the sidelines of Smart SME MENA conference in Dubai last Wednesday, Lee said the growth opportunities in the SME insurance market is a result of strong initiatives by both Dubai and Abu Dhabi Governments. Click here to read from the original article on Zawya news website - a Thomson Reuters company.

Hussain Sajwani says the time for short-term investments is over and it is a good time to buy property not only in Dubai but even globally. "The property sector is still bricks and mortar. You have to build them in a normal way. It is petty because nobody has come up with a way of building a tower in six months. It still has to take three years. But, naturally, property gets affected with the demand and supply and so forth." The interview was published in the March 2016 issue of the Dubai-based magazine TRENDS - An International Magazine on Arab Affairs. Below is the jpeg file of the TRENDS magazine.

Potential Iranian nuclear deal will open doors to significant market opportunities and growth, says Iyad Malas, Chief Executive of Majid Al Futtiam Group. "Today, at minimum, you have to use technology as a support of strategy, because, if you look at a company like Amazon, it started as an e-commerce company, but today is investing very heavily in logistics – and I think the two are complementary." The interview was published in the March 2014 issue of the Dubai-based magazine TRENDS - An International Magazine on Arab Affairs. Below is the jpeg file of the TRENDS magazine.

The government-owned energy company is moving toward renewables in a gradual manner, but fossil fuels are here to stay, says Carl Sheldon, chief executive of Taqa or Abu Dhabi National Energy Company. "We foresee that there will be renewables, but at the moment none is cost competitive, but I think that will change as technology advances and we are keen to be a part of that." The interview was published in the March 2013 issue of the Dubai-based magazine TRENDS - An International Magazine on Arab Affairs. Below is the jpeg file of the TRENDS magazine.

The world should not just be pessimistic looking at the West, they should be optimistic seeing the growth trajectory in the emerging markets, says Sultan bin Saeed Al Mansoori. "My expectation is that we will continue to have the same growth in these sectors providing that we also have some stability in the oil prices." The interview was published in the March 2013 issue of the Dubai-based magazine TRENDS - An International Magazine on Arab Affairs. Below is the jpeg file of the TRENDS magazine.

Major challenges facing the UAE include population growth and a return of liquidity to the markets, but the pickup in oil price will help the economy, according to Sheikh Khaled Bin Zayed Al Nehayan. "Oil is expected to remain between $70 and $100 [per barrel]. If it stays in that range, it means that a lot of the government projects will continue on schedule", he said in 2011. The interview was published in the March 2011 issue of the Dubai-based magazine TRENDS - An International Magazine on Arab Affairs. Below is the jpeg file of the TRENDS magazine.