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Saudi Aramco boss says global gas crisis is boosting oil demand
Crude consumption has risen by around 500,000 barrels a day, according to CEO Amin Nasser Source link
October 4, 2021 in Business News -
Qatar places $760m order for liquid-gas ships with China
Qatar Petroleum said the vessels will be built by Hudong-Zhonghua Shipbuilding Group Co., a subsidiary of China State Shipbuilding Corp Source link
October 4, 2021 in Business News -
Oman suspends flights, UAE on high alert as cyclone approaches
Omani government declared a public holiday on Sunday and Monday ‘due to the adverse climate conditions’ Source link
October 3, 2021 in Business News -
Abu Dhabi's Agthia completes acquisition stake in Egypt's Ismailia Investments
Ismailia Investments, which focuses on frozen processed chicken and beef products, has a processing capacity of around 70,000 tons per year through its facilities and production lines Source link
September 15, 2021 in Business News -
UAE firms secure approval to continue camel milk exports to Europe
About 4,500 tons of camel milk and associated products are produced annually and are among the UAE’s signature foods Source link
September 14, 2021 in Business News -
6 steps to creating patient trust in telehealth
With Covid-19, came a flood of new telehealth (virtual consulting) healthcare solutions, exposing more patients to its benefits and features. More advertising, more awareness and more conversations have introduced telehealth to a broader public, and this can only be good for everyone. The question remains though, how do we create that trust in telehealth for
September 14, 2021 in Property & Real Estate -
Shuaa ex-deputy CEO eyes $1.3bn target with new asset management firm
From helping transform one small boutique firm to a $14bn AUM giant, Mustafa Kheriba has now established Arithma Capital to become ‘a leading asset manager with an alternative approach’ Source link
September 14, 2021 in Business News -
Nicole Bessick teaches Lerato Kganyago a style K.O. on the next episode of Skip Style Council
The Skip Style Council heads to the boxing ring for the next session of this exciting visual podcast series packed with tips, hacks, and tricks to elevate your wardrobe. Titled True Champion, this week’s episode profiles actress and boxing queen Nicole Bessick who tells viewers about how she can juggle being a knockout in the
September 14, 2021 in Energy -
UAE eyes $1trn in business with Israel over next decade
Economy Minister Abdulla Bin Touq says UAE has signed over 60 memorandums of understanding with Israel since normalising relations in 2020 Source link
September 13, 2021 in Business News -
Nicole Bessick teaches Lerato Kganyago a style K.O. on the next episode of Skip Style Council
The Skip Style Council heads to the boxing ring for the next session of this exciting visual podcast series packed with tips, hacks, and tricks to elevate your wardrobe. Titled True Champion, this week’s episode profiles actress and boxing queen Nicole Bessick who tells viewers about how she can juggle being a knockout in the
September 13, 2021 in Investments -
Fluence Capital offers businesses guidance and support in lockdown
Fluence Capital, a financial and strategic advisory company, is now offering pro-bono support and guidance for South Africans facing the potential loss of their business due to the Covid-19 lockdown. Analysts expect the lockdown to result in massive job losses and business closures, with the International Labor Organization (ILO) increasing its job loss forecasts to
September 13, 2021 in Investments -
GITEX 2021: Sitecore to showcase innovations that deliver memorable customer experiences
Sitecore will hold first standalone participation at GITEX where it will share Middle East innovations with a global audience Source link
September 13, 2021 in Business News -
Dubai-based start-up Valeo brings health to home
Users can receive in-home tests, and certified wellbeing coaches, trained and qualified in behavioural health and nutrition, help better understand the wellbeing data Source link
September 12, 2021 in Business News -
UAE-based Gulf Craft expands footprint in Europe
Ahead of Cannes Yachting Festival, the boat and yacht maker has entered markets in Germany, Spain, the Netherlands and Portugal, among others Source link
September 11, 2021 in Business News -
Expo 2020 Dubai visitors won't need Covid-19 vaccine, negative PCR
Across the Expo site, dozens of checkpoints will ensure people provide a pass to enter, while visitors will have to wear masks and abide by stringent social distancing regulations. Sanitising stations will be scattered in every corner Source link
September 11, 2021 in Business News -
UAE residents outside country told they can come back, even if abroad for over six months
Arriving passengers must apply via the website of the Federal Authority for Identity and Citizenship (ICA), and complete the vaccination application in order to get the necessary approvals, in addition to presenting the approved vaccination certification upon departure for the UAE Source link
September 10, 2021 in Business News -
SA Tourism reconnects Chinese buyers with South African trade
In a bid to kick start travel to South Africa from China, South African Tourism has announced the 2021 China Virtual Road Show & Virtual Fam to reconnect Chinese buyers with South African trade, from 13 to 17 September 2021. China is one of South Africa’s key source markets. This virtual tour aims to boost
September 10, 2021 in Manufacturing -
#BreatheEasierSA with RespiClear Decongestant range. Now in Dis-Chem stores nationwide
South Africans are now able to breathe easier with the new RespiClear® Decongestant range from OBEL®. The range boasts steroid-free nebs, petroleum-free vapour rub and preservative-free drops for inhalation. All products are formulated with key essential oils, including eucalyptus and menthol, both with excellent anti-viral properties. The RespiClear® Decongestant Nebs are the first steroid-free nebules
September 10, 2021 in Manufacturing -
Aramco considers opening $110bn gas project to investors
State-controlled producer is working with an adviser as it explores raising new equity or debt for its vast Jafurah site Source link
September 9, 2021 in Business News -
This Heritage Month, explore South Africa’s rich stories on Showmax, from Flatland to United Apart SA
Berlin Panorama opening film Flatland; SAFTA Best Soap nominee Arendsvlei; and Covid-19 lockdown doc United Apart SA FLATLAND | Stream now Flatland opened the 2019 Berlin Panorama, selling out all its screenings, and has a 91% critics rating on Rotten Tomatoes, with Variety calling the South African film “an exhilarating fusion of contemporary western and
September 9, 2021 in Manufacturing -
Why it's an employee's market
Companies that prioritise their employees and do everything in their power to make them happy and motivated will be the winners in this new upcoming era Source link
September 9, 2021 in Business News -
Further easing of travel restrictions by Saudi 'only a matter of time' says business expert
Latest move welcomed amid expected boon for tourism and business in UAE Source link
September 8, 2021 in Business News -
Satellite data provides fresh insights into the amount of water in the Nile basin
As countries vie for these resources, there has been immense tension. Most notably, Egypt and Sudan have challenged Ethiopia’s decision to construct and fill the Grand Ethiopian Renaissance Dam. This is a huge project on one of the Nile’s main tributaries, the Blue Nile, which supplies more than 80% of the water reaching Egypt. Treaties
September 8, 2021 in Manufacturing -
Satellite data provides fresh insights into the amount of water in the Nile basin
As countries vie for these resources, there has been immense tension. Most notably, Egypt and Sudan have challenged Ethiopia’s decision to construct and fill the Grand Ethiopian Renaissance Dam. This is a huge project on one of the Nile’s main tributaries, the Blue Nile, which supplies more than 80% of the water reaching Egypt. Treaties
September 8, 2021 in Energy -
Bahrain's cashless payments surge by 65% in August hitting almost $744m
More than 53 million digital payments were conducted during the first half of the year, according to data from the Central Bank of Bahrain Source link
September 8, 2021 in Business News -
Africa Rising International Film Festival puts spotlight on GBV, BLM and unjust systems
The third instalment of the Africa Rising International Film Festival (ARIFF) is scheduled to take place virtually from 27-29 November 2020. True to the time, the 2020 edition will be both a virtual experience with one or two live experiences. Using film to create awareness and contribute to urgent conversations needed, and hopefully drive change,
September 7, 2021 in Manufacturing -
Will small companies forced to investigate financial crimes be able to cope?
“With constantly evolving regulatory and reporting requirements, SMEs are in a fix” Source link
September 7, 2021 in Business News -
The UAE start-up making insurance more 'tolerable'
Hala is the emerging insurtech start-up that pivoted from serving insurers to serving their customers Source link
September 6, 2021 in Business News -
Balwin secures approval for BEE transaction
JSE-listed Balwin Properties announced on Monday, 6 September, that it has secured shareholder approval for its Black Economic Empowerment (BEE) transaction led by Aobakwe Reginald Koketso Kukama. Aobakwe Reginald Kukama and Steve Brookes, Balwin Properties “I’ve been working on a suitable empowerment transaction since listing and Balwin is delighted with the shareholder support received to
September 6, 2021 in Property & Real Estate -
Africa Rising International Film Festival puts spotlight on GBV, BLM and unjust systems
The third instalment of the Africa Rising International Film Festival (ARIFF) is scheduled to take place virtually from 27-29 November 2020. True to the time, the 2020 edition will be both a virtual experience with one or two live experiences. Using film to create awareness and contribute to urgent conversations needed, and hopefully drive change,
September 6, 2021 in Property & Real Estate -
Satellite data provides fresh insights into the amount of water in the Nile basin
As countries vie for these resources, there has been immense tension. Most notably, Egypt and Sudan have challenged Ethiopia’s decision to construct and fill the Grand Ethiopian Renaissance Dam. This is a huge project on one of the Nile’s main tributaries, the Blue Nile, which supplies more than 80% of the water reaching Egypt. Treaties
September 6, 2021 in Property & Real Estate -
AB Real Estate Forum: Property is back
Arabian Business will be tapping into great knowledge and expertise of panelists at the next edition of its live events series – the AB Real Estate Forum – to be held at the JW Marriott Marquis on September 20, where we will be striving to reveal the current state-of-play within the industry Source link
September 6, 2021 in Business News -
Why Dubai is the city of 'miracles and positive surprises'
UAE’s handling of coronavirus built up trust among incoming tourists; upcoming season will be ‘amazing’ for the emirate’s hotel and hospitality sector, said Raffles the Palm MD Source link
September 5, 2021 in Business News -
Union Properties unit wins contract to manage 14 Expo 2020 Dubai pavilions
ServeU to meet the demands of facilities covering a total area spanning 30,000 sq m of the Expo 2020 site with a team of 300 Source link
September 4, 2021 in Business News -
How humanity has reached a 'code red' climate emergency
The good news is that there is still a sliver of hope to help communities respond to this threat through well-informed, solid and sustained actions Source link
September 4, 2021 in Business News -
US operator Choice Hotels commits to open 10 Saudi hotels by 2026
First three hotels to open in Jeddah and Riyadh by the end of this years in deal with Saudi-based travel major Seera Source link
September 3, 2021 in Business News -
Where to next? The case for crypto-asset regulation just got bigger
The alleged loss of some $3.6bn bitcoin through Africrypt investment company brings home just how risky this asset class truly is. Such incredible loss, though unfortunately not yet falling under the FSCA’s direct responsibility is likely to impact the velocity of crypto-asset regulatory development. Richard Rattue, managing director of Compli-Serve SA The recent announcement by
September 3, 2021 in Investments -
Saudi energy giant confirms plan to list on Tadawul
ACWA Power announces plan for initial public offering of 81,199,299 shares, representing 11.1% of its share capital Source link
September 3, 2021 in Business News -
FIVE grows its Dubai hotels and resorts portfolio with FIVE Beach
The former under-construction Corinthia in Dubai has been acquired by FIVE, to be reflagged as FIVE Beach and set to open in 2023 Source link
September 2, 2021 in Business News -
Absa PMI rebounds in August after steep fall on July riots
South Africa’s seasonally-adjusted Absa Purchasing Managers’ Index (PMI) recovered in August, after a steep drop in July when arson and looting gripped parts of the country, a survey showed on Wednesday. Source: Getty The index, a gauge of manufacturing activity in Africa’s most industrialised nation, rose to 57.9 points in August from 43.5 in July,
September 2, 2021 in Manufacturing -
Abu Dhabi's TAQA mulls sale of oil and gas assets
Abu Dhabi National Energy Company says that it has initiated a strategic re of its oil and gas operations Source link
September 1, 2021 in Business News -
Saudi power major ACWA said to eye more than $1bn from IPO
Sources say Riyadh listing may value ACWA Power International at $10bn or more Source link
September 1, 2021 in Business News -
HSBC launches Saudi Arabia's first climate change-focused investment fund
HSBC Global Equity Climate Change Fund offers investors exposure to renewable energy, clean transport, sustainable water management and climate change adaptation Source link
August 31, 2021 in Business News -
UAE announces price for all PCR Covid tests to be reduced to AED50
Ministry of Health and Prevention says change applies from Tuesday, will monitor adherence to new price Source link
August 30, 2021 in Business News -
Edge Growth to administer J.P. Morgan’s groundbreaking Abadali EEIP Fund
There is no doubt that the extreme disruptions and repercussions caused by the Covid-19 pandemic in South Africa will continue for some time. The long-term effect on the already challenged small and medium businesses will also be profound. Fortunately, initiatives such as the newly launched Abadali Equity Equivalent Investment Programme (EEIP) aims to have a
August 30, 2021 in Investments -
Oversubscribed Vukile bond issue attracts more than R2.1bn in bids
Vukile Property Fund recently issued R500m of senior unsecured corporate bonds with one- and three-year maturities. The issue was significantly oversubscribed, with the auction attracting bids of more than R2.1bn. Laurence Rapp, CEO of Vukile Three-year notes of R342m were placed at a margin of 185bps, better than guidance and favourably priced relative to recent
August 30, 2021 in Property & Real Estate -
Jess Cleland appointed Broll COO: Africa
The Broll Property Group has appointed Jess Cleland as COO: Africa. This includes responsibility for all operations outside of South Africa, in addition to heading up the group’s valuations and property intel divisions across all countries. Jess Cleland, Broll COO: Africa Since joining Broll in 2013, Cleland’s positions have included group managing director: East Africa
August 30, 2021 in Property & Real Estate -
The importance of a Zoom-ready face
Nazila Zoulfaghari, vice president of TEOXANE MENA, explains why the pandemic has benefited the cosmetic and aesthetic industries Source link
August 30, 2021 in Business News -
Dubai poised to benefit from cryptocurrency growth, Bittrex says
Dubai, the region’s financial hub, has already taken several steps to bolster the use of blockchain within the city in recent months Source link
August 29, 2021 in Business News -
Abu Dhabi bourse says to cut fees again, extend trading hours
Latest initiatives are part of the ADX One strategy announced earlier this year to bolster market activity and to deepen liquidity Source link
August 29, 2021 in Business News -
Saudi F1 race to offer 'something the world has never seen before', says circuit designer
Carsten Tilke delivers update on the construction of the fastest street track in Formula 1 history Source link
August 28, 2021 in Business News -
Man vs Machine: How AI robots are taking over online trading
Talal Al Ajmi, founder and CEO of VI Markets, shares his insights on how artificial intelligence (AI) and machine learning technologies are becoming a disruptive and prominent force in the online trading world Source link
August 27, 2021 in Business News -
How to identify and manage risk in your business
Business risks refer to all the factors that may lead to lower profits or even cause a company to close and fail. Lungile Phakathi, a CA(SA) and the managing director for the Modern Firm, gives practical advice on how you can identify and manage risks in your business. What does risk management mean in the
August 27, 2021 in Investments -
In conversation with South Africa’s central bank governor Lesetja Kganyago
South African Reserve Bank governor Lesetja Kganyago. Andrew Caballero-Reynolds/AFP via Getty Images Mills Soko: When you were appointed as governor one of the first things you did was to go to your village and you went on a shopping spree. What was the significance of this gesture? Lesetja Kganyago: I felt it was an opportunity
August 27, 2021 in Investments -
UBS hires team of Middle East private bankers from Credit Suisse
World’s largest wealth manager set to expand in the Gulf region, according to reports Source link
August 27, 2021 in Business News -
Historic SA wine estate owned by Anne Cointreau goes under hammer
A 329-year old South African wine estate owned by Anne Cointreau, a scion of the family famous for French cognac and orange liqueur, was sold on Wednesday to an international buyer in Europe for just over R52m ($3.5m). Source: Supplied The Morgenhof estate in Stellenbosch, owned for nearly three decades by Cointreau, was sold as
August 26, 2021 in Property & Real Estate -
How Saudi reforms could end the kingdom's 'fly-in-fly-out' culture
Experts say new measures don’t create competition between Saudi and the rest of the region Source link
August 26, 2021 in Business News -
Arçelik brings Beko appliances to SA as it advances African expansion
Turkish multinational consumer durables and electronics manufacturer Arçelik is expanding its portfolio in southern Africa by adding the Beko brand to its local portfolio. Beko is a freestanding home appliances brand in Europe in the white goods sector and the number one large home appliances brand in the UK. Beko store in Durban. Source: Supplied
August 26, 2021 in Manufacturing -
Why cybersecurity is essential for future-proofing businesses in the Gulf
Region’s companies need to invest in protecting themselves against the growing threat of ransomware Source link
August 25, 2021 in Business News -
New Electrolux SA MD shares growth opportunities
International home appliances maker Electrolux expects strong demand to continue as a result of the stay-at-home trend prompted by the Covid-19 pandemic. Source: Electrolux Helping to capitalise on growth opportunities in the South African market is Murray Crow, the new Electrolux managing director for SA, who has previously held posts as MD of Whirlpool South
August 25, 2021 in Manufacturing -
UAE assessing net-zero emissions target ahead of COP26
In December, the UAE pledged to cut greenhouse gas emissions by almost 25% over 10 years, from a baseline that assumes moderate economic growth Source link
August 25, 2021 in Business News -
New attraction Ain Dubai set to open on October 21
World’s tallest observation wheel will eclipse the 190-metre New York Wheel planned for Staten Island Source link
August 24, 2021 in Business News -
Further expansion for Only Realty Group with Halbe Properties acquisition
Only Realty Property Group is continuing its expansion of its national franchise footprint with the recent acquisition of Halbe Properties, an established real estate company with two offices. “We continuously work to achieve great success year-on-year and our recent acquisitions will further solidify our positioning and brand promise – particularly in Gauteng,” says Only Realty
August 24, 2021 in Property & Real Estate -
The SA design duo breaking into the US decor market
Pretoria-based sisters Morongwe (Mo) Mokone and Michelle Mokone lead the all-woman team behind Mo’s Crib, a South African home decor business creating stylish products from recycled materials, and creating employment for women by equipping them with artisanal skills. Michelle and Morongwe Mokone, owners of Mo’s Crib. Source: Supplied Mo’s Crib specialises in proudly South African
August 24, 2021 in Manufacturing -
UAE's ADNOC signs deals worth up to $1bn with top contractors
Abu Dhabi National Oil Company inks agreements for concept and front-end engineering design services for major projects Source link
August 24, 2021 in Business News -
Sapin to host free webinar on estate planning for property investors
This September, SA Property Investors Network (Sapin), in partnership with personalised online wills platform SmartWill, is hosting a free webinar covering the hidden costs of death for property investors. The webinar aims to educate and add value to anyone involved in the property industry, by shining a light on common, but not always known pitfalls,
August 23, 2021 in Property & Real Estate -
How Switzerland's private sector stands to benefit from Expo 2020
UAE-based branches of Swiss companies are driving interest in the exhibition, ‘proof of the belief that Expo will enhance trade between the two countries’, said Swiss Pavilion head Source link
August 23, 2021 in Business News -
If you want something, go get it
Stories inspire many of us. In fact, most of us probably have at least one story – be it fact or fiction – that has set off a spark of inspiration instrumental in motivating us. My life story was inspired by the Will Smith movie, The Pursuit of Happyness. The movie is based on the
August 23, 2021 in Investments -
Greener pastures for green finance in the MENA region
Out of the 12 MENA green and sustainability-linked debts issuances, four deals from Saudi Arabia account for almost 63% of the region’s total volume, with the UAE holding the remaining 37% Source link
August 22, 2021 in Business News -
UAE's half-year tourism revenues rise to $3bn as Covid recovery continues
Emirates Tourism Council data also reveals that average hotel occupancy rates increased to 62% in first half of 2021 compared to 53.6% in H1 2020 Source link
August 22, 2021 in Business News -
How Bahrain is helping Saudi Arabia get ready for F1 debut
Saudi Automobile & Motorcycle Federation has called on the expertise of a team of specialist Bahraini marshals ahead of December race Source link
August 21, 2021 in Business News -
Saudi Arabia among first countries to accept IATA Travel Pass
Used to confirm pre-departure Covid-19 test results for departing and arriving passengers, the pass will be available in the kingdom from September 30 Source link
August 20, 2021 in Business News -
Why real estate investors can make a real difference to climate change
Climate change and its potential costs to humankind made headlines again last week. What was new was the clarity of the message putting changes to the planet’s climate down to the human race. Source: Gallo/Getty The findings of the Intergovernmental Panel on Climate Change (IPCC) place climate change firmly on our doorstep, and has demanded
August 20, 2021 in Property & Real Estate -
Why the centuries-old tradition of wooden dhow trade is making a revival in Dubai
Dubai sees exports through wooden dhows touch 365,632 tonnes and imports reach 260,001 tonnes in the first half of 2021 Source link
August 20, 2021 in Business News -
Record-low interest rates drive five-year-high house price growth
According to the latest data from Lightstone, national house price inflation is at its highest in five years, proving a success story notwithstanding the ongoing Covid-19 pandemic and recent unrest in parts of KwaZulu-Natal and Gauteng. Carl Coetzee, CEO of BetterBond “The housing market remains the surprise success story of recent months and, contrary to
August 20, 2021 in Property & Real Estate -
Saudi retail major returns to profitability following five quarters of losses
Fawaz Abdulaziz Alhokair Co reports net profit of $12.2m for the quarter ended June 30 Source link
August 19, 2021 in Business News -
Suites at Expo 2020 Dubai's only on-site hotel almost sold out
Hotel is among the structures that will remain after global showpiece event ends in March next year Source link
August 19, 2021 in Business News -
Bahrain approves booster doses of Covid vaccination jabs
Kingdom’s National Medical Taskforce for Combating the Coronavirus has announced booster shots of the Pfizer-BioNTech and AstraZeneca will be available for fully vaccinated immunocompromised individuals and people over the age of 60. Source link
August 18, 2021 in Business News -
The Explainer: Quantum computing and how it's set to revolutionise the business world
Abu Dhabi’s plans to develop its own quantum computer could lead to ‘technological sovereignty’, says research professor Source link
August 17, 2021 in Business News -
Credit ratings are punishing poorer countries for investing more in healthcare during the pandemic
A credit rating, like a credit score, is an assessment of the ability of a borrower – whether it’s a company or a government – to repay its debts. Lower credit ratings drive up the cost of borrowing. This threat prompted some poorer countries to avoid tapping investors for vital financing during the pandemic, while
August 17, 2021 in Investments -
Abu Dhabi reveals monthly tariff for electric vehicle charging
New framework aims to enhance the integration of electric transport networks and encourage the participation of the private sector and consumers Source link
August 17, 2021 in Business News -
UAE fintech start-up SimpliFi in talks for partnership deals across MENAP
Start-up aiming to go commercially live in the whole region by 2022 is also looking at its next round of fundraising to generate more capital to finance ambitious growth plans Source link
August 16, 2021 in Business News -
More women independently purchasing property than ever before
More South African women are purchasing property on their own, without help from a partner, than ever before. Andrea Tucker, director of MortgageMe, says the shift shows more women are confident enough to exchange renting for the potential returns, peace of mind, and financial freedom that sole home ownership can provide. Andrea Tucker, director of
August 16, 2021 in Property & Real Estate -
Nixon’s decision to delink the dollar from gold still hounds the IMF, South Africa and Africa
Nixon’s action – announced on 15 August 1971 – had profound and long-lasting effects on the International Monetary Fund , South Africa and Africa. Nixon’s decision breached the US’s treaty obligations. But he had little choice. By 1970, the rest of the industrialised world had accumulated such large dollar holdings that the US did not
August 16, 2021 in Investments -
Dubai's Union Properties announces $7.3m profit for Q2 amid emirate's property boom
Real estate developer’s profits increased by 483% in the second quarter of the year, compared to Q1, as Dubai’s economy continues to chart a recovery from coronavirus Source link
August 15, 2021 in Business News -
Hyperforce is coming to the uae – here's why that matters
Salesforce is bringing its Hyperforce architecture to the UAE in partnership with AWS. What does that mean for your business? Source link
August 15, 2021 in Business News -
Bahrain's Gulf Air adds more routes to IATA Travel Pass trial
Available initially on routes from Bahrain to Athens, London and Singapore, the airline has now added flights to Dubai, Frankfurt and Paris flights to the trial Source link
August 14, 2021 in Business News -
UFC set to return to Abu Dhabi's Yas Island in October
Second edition of Abu Dhabi Showdown Week comes as part of the five-year partnership forged by UFC and DCT Abu Dhabi Source link
August 14, 2021 in Business News -
World's tallest observation wheel set to open in Q4 after key appointment
Dubai Holding has confirmed the appointment of Ronald Drake as general manager of Ain Dubai Source link
August 13, 2021 in Business News -
SeaWorld Abu Dhabi to include world's largest aquarium
Construction of the latest Yas Island tourist attraction is on track for completion in 2022 Source link
August 12, 2021 in Business News -
Building a consumer-centric supply chain in consumer goods
Globally, consumer packaged goods (CPG) companies are under intense pressure to profitably grow. Yet, incumbent companies are losing out to nimble, digital-native competitors. For large CPGs, it’s no longer enough for supply chains to be engines of efficiency. Source: Getty Supply chains must become laser-focused on delivering the outcomes that enable the company to meet
August 12, 2021 in Manufacturing -
Bitcoin is not gold
Bitcoin and a slew of other cryptocurrencies are gaining traction as alternatives to fiat currencies as mediums of exchange. But could they also challenge gold as the ultimate store of value? William Fraser, portfolio manager, Foord Asset Management To my mind, there are so few similarities between gold and Bitcoin that to compare them seems
August 12, 2021 in Investments -
Unrest, uncertainty spills over to property valuations
According to Gary Palmer, CEO of Paragon Lending Solutions, the recent unrest set a new financial low in South Africa’s already difficult economy and, much like the initial start of the Covid-19 pandemic, dealing with the fallout will take time. Recovering from the approximately R50bn – and counting – in losses won’t be easy, even
August 12, 2021 in Property & Real Estate -
Dunlop celebrates women driving the world forward
In honour of Women’s Month in August, we’re highlighting the significant contributions of women as the driving force behind creating safer experiences on the road. Those who believe they can change things for the better and do just that. To celebrate these phenomenal women, Dunlop has created a ‘Women driving the world forward’ website showcasing
August 12, 2021 in Manufacturing -
Blue Amber ready to take advantage of Zanzibar’s new tax, residency scheme
Pennyroyal’s Blue Amber development in Zanzibar is one of the first real estate projects to be awarded Strategic Investment Status (SIS) by Zanzibar’s government. Blue Amber is a 411-hectare luxury mixed-use waterfront, resort development spread along the Muyuni coastline in the north-eastern part of Zanzibar. It incorporates residential, hotel, tourism, and community and public amenities.
August 12, 2021 in Property & Real Estate -
High freight charges affecting businesses and consumers
The high shipping expenses are being factored into contracts for the next 12 months, forcing companies to pass the extra costs on to consumers Source link
August 12, 2021 in Business News -
Etihad Cargo reclaims 90% of pre-Covid destinations
The Abu Dhabi-based cargo operation also recorded a 20 percent increase in tonnage compared to the same period in 2019 Source link
August 11, 2021 in Business News -
Fortress looks to increase solar output with launch of R900m sustainability-linked bonds
The JSE has granted Fortress Reit the listing of a three-year sustainability-linked bond of R495m and a five-year sustainability-linked note of R405m. Although the bonds do not have specific use-of-proceed requirements, the funds will assist Fortress with the continued installation and increase of solar energy in South Africa across its retail and logistics portfolios. Image
August 11, 2021 in Property & Real Estate -
Riots cost SA Corporate Real Estate more than R500m
SA Corporate Real Estate, a real estate investment trust (Reit) put an estimate of R558.243m on Tuesday on the total cost of damage to its properties and loss of income after the recent looting and vandalism. The unrest last month led to damage to hundreds of businesses and about 3,000 stores were looted and vandalised.
August 11, 2021 in Property & Real Estate -
Saudi Arabia issues record number of foreign investor licences
Ministry of Investment of Saudi Arabia says it issued 478 licences in the first quarter of the year as economy continues to recover from the impact of coronavirus Source link
August 10, 2021 in Business News -
Prudential’s Leshni Dial-Harikaran on the beauty of a perfectly balanced spreadsheet
As a typical Capricorn, Leshni Dial-Harikaran says she likes order and structure and really enjoys beauty, whether it be in nature, design, cars or a perfectly balanced excel spreadsheet. Leshni Dial-Harikaran, credit analyst, fixed income team, Prudential Investment Managers Therefore the credit analyst in the fixed income team at Prudential Investment Managers, says, numbers and
August 10, 2021 in Investments -
QCH signs agreement to manufacture, sell HempTrain in SA
South African hemp products development company Quattro-Canna Holdings (QCH) has signed a license agreement with Canadian Greenfield Technologies Corp. for the sole rights to manufacture and distribute the HempTrain decorticator plant in South Africa for local and regional sales and support. Source: Canadian Greenfield Technologies Corp. The HempTrain decorticator plant is a complete, whole plant
August 10, 2021 in Manufacturing -
Knight Frank Kenya notes increase in market activity in H12021
According to Knight Frank’s First Half 2021 Kenya Market Update report, prime residential rents declined at a slower rate of 6.02% over the past 12 months to June, compared to a 7.62% decline in a comparable period in 2020, attributing the change to the reopening of the economy, rollout of vaccinations and landlords adjusting rental
August 10, 2021 in Property & Real Estate -
Radisson Hotels signs its 16th hotel in South Africa
The Radisson Hotel Group has announced the signing of Radisson Hotel Middelburg. Set to open at the end of 2023, the hotel boosts the group’s South African portfolio to 16 hotels in operation and under development. It also places the group firmly on track to reach its ambition of 150 hotels in operation and under
August 10, 2021 in Property & Real Estate -
Women increasingly looking to property to build wealth
According to Chrissie Johnson, customer relationship manager for Seeff North Coast, having long been the primary influencers in property purchasing decisions, women are now not just confident purchasers of their own residential homes but are increasingly building property portfolios. Image supplied Statistics from Seeff’s mortgage originator further shows that there are more single women compared
August 10, 2021 in Property & Real Estate -
Abu Dhabi allows full foreign ownership for 604 classes of professional licenses
Foreign owners now may be fully licensed in fields such as accounting, training, consultancy, beauty centres, computer and internet network companies, and others Source link
August 10, 2021 in Business News -
Short-form video content to disrupt MENA digital media, research shows
Users of short-form video content are also higher online spenders than non-users across product categories; the variation in spend is estimated to be between 40 percent and 130 percent, the report by internet services consultancy RedSeer said Source link
August 9, 2021 in Business News -
Emirati entrepreneur Maryam Al Nuaimi is first woman in UAE's BPO industry
In an exclusive inter with Arabian Business, Nuaimi opened up about her journey to gain the trust of society and her clients in the business process outsourcing industry Source link
August 9, 2021 in Business News -
#WomensMonth: Self-mastery essential in driving your growth
Having started her career at Liberty Two Degrees (L2D) in 2012 as a property analyst, Sumenthree Moodley has since worked her way up to a more senior position at the company, currently serving as its head of analysis. This includes overseeing the monitoring of operational performance of the portfolio, analysing trading patterns and financial returns
August 6, 2021 in Property & Real Estate -
Mboweni steps down, Godongwana steps up as finance minister
Tito Mboweni’s long-standing request to be excused from his role as finance minister was finally granted in president Cyril Ramaphosa’s cabinet reshuffle last night. He is replaced by Enoch Godongwana. New minister of finance, Enoch Godongwana. Source: Mondi Mboweni took up this position following the sudden departure of former minister Nhlanhla Nene in October 2018.
August 6, 2021 in Investments -
Mpact invests over R500 million in growth projects after returning R257 million to shareholders
Mpact, the largest paper and plastics packaging business and recycler in southern Africa, reported the results for the six months ended 30 June 2021 today. Bruce Strong, Mpact Chief Executive Officer said: “Mpact continues to show tremendous resilience, firmly anchored in our purpose of making a difference, providing our customers with sustainable packaging and giving
August 5, 2021 in Manufacturing -
Retail major Landmark inks Dubai Metro stations naming rights deal
Jaffliya Station will be renamed Max Fashion while Al Rashdiya Station will be renamed Centrepoint under new agreement Source link
August 5, 2021 in Business News -
Mamedupi Matsipa’s passion for finance charted her career path
A passion for finance, investing, how businesses work and the drivers of various industries were behind Mamedupi Matsipa’s decision to switch from IT to a career path that has lead her to her current role as chief executive officer (CEO) of Ata Capital. Mamedupi Matsipa, CEO, Ata Capital “As a student, my career choices were
August 5, 2021 in Investments -
Why mental health is a luxury Lebanese can't afford
There’s little fuel, less electricity and medicine shortages have emerged; the foods in the supermarkets aren’t what they used to be. Add to that Covid-19 which has added further stress on a failed economy. The country, and those who reside in it, are in survival mode Source link
August 4, 2021 in Business News -
SA factory activity shrinks on unrest, Covid-19 restrictions
South African private sector activity fell at its fastest rate in 10 months in July as output tumbled in the wake of civil unrest in some parts of the country and tighter coronavirus lockdown restrictions, a survey showed on Wednesday. Source: Reuters/Mike Hutchings/File Photo IHS Markit’s Purchasing Managers’ Index (PMI) fell to 46.1 in July
August 4, 2021 in Manufacturing -
Potential hijack in the Gulf of Oman says UK maritime agency
A shipping incident in the Gulf of Oman, roughly halfway between Iran and the United Arab Emirates, has been upgraded to a “potential hijack” according to the U.K.’s UKMTO, which monitors shipping in the region. Source link
August 3, 2021 in Business News -
Women can, and should, occupy more space in FMCG
The ground is ripe for women in manufacturing to take charge and drive localisation by playing a meaningful role in the fast-moving consumer goods (FMCG) sector. Zahra and Nadia Rawjee, founders and directors, Uzenzele Holdings Capitalise on incentives According to niche capital raising consulting company, Uzenzele Holdings, women should take up more space in the
August 3, 2021 in Manufacturing -
Pension-backed lending: The good, the bad, and the ugly
Victor Bucarizza, GIB Financial Services Limited</span>Finance minister, Tito Mboweni, has expressed a desire to allow South Africans to make a withdrawal from their pension funds to provide relief for those whose finances are under pressure during these trying times. Mboweni said that this is proving to be a complex problem to solve if we are
August 3, 2021 in Investments -
Mozambique’s fossil fuel drive is entrenching poverty and conflict
A coal beacon hill mine in Tete. Joshua Kirshner, Author provided Nearly two weeks later, the army had managed to secure the town. Yet the French oil and gas firm Total had already called off the planned resumption of construction at its £14.4bn LNG project near Palma on the Afungi peninsula, and pulled all staff
August 3, 2021 in Energy -
Lonsa acquires majority stake in fibre cement manufacturer Everite
Lonsa Group Limited (Lonsa), a Mauritian principal investment entity investing in the energy, industrials, logistics and property sectors in Africa, has acquired majority and controlling shareholding in Everite for approximately R600m. Everite is an industrial manufacturer of a range of building products for the commercial, industrial and residential markets. The deal, which was effective 1
August 3, 2021 in Manufacturing -
Star Indian start-up founder Nikhil Kamath to woo cash-rich Gulf-based NRIs with new $200m India-focused fund
True Beacon II is to be launched next week and will have a minimum investment requirement of $1m Source link
August 3, 2021 in Business News -
Bahrain's Gulf Air ramps up Paris flights after green list ruling
National carrier to fly to French capital on daily basis after authorities add Bahrain to its green list of destinations Source link
August 2, 2021 in Business News -
Back to nature with Sonto Pooe’s NativeChild
Behind every braid or big afro there is a story to be told. For Sonto Pooe, it began at the tender age of 8 when she tried to braid her own hair after a cruel experience with a hairdresser who braided it too tightly, leaving her unable to sleep for days. Sonto Pooe, founder and
August 2, 2021 in Manufacturing -
DAFZA eyes post-Covid recovery following significant growth in sales revenues
Free zone recorded an 88.4% increase in the number of registered companies for first six months of 2021 Source link
August 2, 2021 in Business News -
Re: Inside Dubai Creek Harbour's hidden gem
European-style restaurant Mondoux offers delicious all-day dining in a picturesque setting Source link
August 1, 2021 in Business News -
Lagoon move leads to investor demand surge in Dubai project, says Azizi
Senior exec says the addition of a lagoon to its flagship Riviera project has become a major selling point to investors Source link
July 31, 2021 in Business News -
Tour de France winner commits to UAE Team Emirates until 2027
Tadej Pogacar has signed a contract to stay with UAE Team Emirates after winning second Tour de France Source link
July 31, 2021 in Business News -
Saudi Arabia set to reopen to foreign tourists from August 1
Minister of Tourism hails decision to reopen borders to international tourism after Covid-related suspension Source link
July 30, 2021 in Business News -
SimpliFine expands in Kenya with locally produced products
Kenyan integrated food producer, SimpliFine, is expanding across Kenya with new, locally-produced meat and vegetarian products. SimpliFine president Steven Carlyon with SimpliFine staff. | Source: Supplied SimpliFine’s new range of meat and vegetarian products, sourced directly from farmers, include frozen meats, prepared meal accompaniments and a range of ready-to-cook prepared meals. The food producer uses
July 30, 2021 in Manufacturing -
Investors are flocking to Mauritius. Here’s why
Best known for its exquisite white beaches and get-away-from-it-all lifestyle, Mauritius is about so much more these days. In fact, the island paradise is currently the highest ranked economy in sub-Saharan Africa, according to the World Bank’s Ease of Doing Index. And that’s in no small part because of key factors such as its sophisticated
July 30, 2021 in Property & Real Estate -
Sectional title industrial property: It makes good business sense for SMEs
You mean, stop renting? Yes. In the new post-pandemic world, factors like low interest rates, and the availability of smaller ‘micro-industrial’ spaces combine with industrial sector-specific variables – like high rental returns and longer average occupancy – to produce a very real investment opportunity for small and medium-sized enterprises: buy. What’s more, industrial property that
July 30, 2021 in Investments -
Dubai bourse sees H1 net profit halve despite rising tide of foreign investors
Dubai Financial Market chairman says foreign investors accounted for 69% of the new investors in H1 Source link
July 29, 2021 in Business News -
SA property, retail firms bet on townships despite unrest
Recent unrest in South Africa damaged hundreds of businesses but property developers and retailers say they remain committed to the fast-growing consumer markets of its predominantly Black townships. Members of a private security company at a looted shopping mall in Vosloorus, Gauteng, 14 July 2021. Reuters/Siphiwe Sibeko Riots broke out this month after former President
July 29, 2021 in Property & Real Estate -
Consumers encouraged to save during Savings Month
With South Africans having one of the lowest household savings ratios in the world, at just 0.6%, National Savings Month in July provides a great opportunity for South Africans to consider their saving habits and how they can save more. Savings Month was launched in 2001 by non-profit organisation, the South African Savings Institute (SASI).
July 29, 2021 in Investments -
JLL SA Q2 report reflects positive outlook for industrial, warehousing sector
According to JLL’s latest Q2 city report, South Africa’s corporate real estate sectors remain under pressure, partly due to the ongoing Covid-19 pandemic and resultant restrictions. Johannesburg Johannesburg’s office market is anticipated to remain in turbulent waters over the foreseeable future, with vacancy rates and rental levels expected to continue softening. Sustained real economic growth,
July 29, 2021 in Property & Real Estate -
Saudi Arabia to impose three-year international travel ban on citizens who visit 'red list' countries
Ban includes those who violated restrictions by visiting ‘green list’ states first as coronavirus continues to impact many countries worldwide Source link
July 29, 2021 in Business News -
Middle East air travel demand remains 80% below pre-pandemic levels
Latest IATA data shows Middle East airlines reported a small improvement in passenger demand in June compared to May Source link
July 28, 2021 in Business News -
Creecy calls for greater access to finance for low-carbon investment in emerging markets
With emerging markets requiring an estimated $3-4tn annually in low-carbon investments over the next 15 years, Minister of Forestry, Fisheries and the Environment Barbara Creecy has called on developed countries to ensure access to long-term, predictable, and affordable finance for developing countries. Source: Gallo/Getty The minister made these remarks during the Ministerial Climate Change meeting
July 28, 2021 in Investments -
World's deepest pool in Dubai opens to the public on Wednesday
Deep Dive Dubai announces that public bookings are now open online at deepdivedubai.com Source link
July 28, 2021 in Business News -
Saudi Arabia reveals sweet tooth with $9.3bn industry investment
Figures released by the Ministry of Industry and Mineral Resources reveal 1,066 sweets and chocolate factories across the kingdom Source link
July 27, 2021 in Business News -
Redefine lists R1bn sustainability-linked bond
Redefine Properties has listed a R1bn issuance on the JSE for its first sustainability-linked bond – the largest amount raised so far by a South African real estate investment trust (Reit) in the growing sustainability-linked bond space in the country. Redefine CEO Andrew Konig The funds will be used to refinance upcoming bond maturities which
July 27, 2021 in Property & Real Estate -
IZA proposes new zinc refinery in SA to meet local demand
According to Simon Norton fromt the Africa Desk of the International Zinc Association, South Africa needs a zinc refinery to assist with the vast quantities of galvanised steel likely to be taken up by the government’s ambitious infrastructure development plans. Skorpion zinc refinery in Namibia. Source: Supplied “If we intend to rebuild our water and
July 27, 2021 in Manufacturing -
The importance of mentorship in a founder's journey
Industry leaders need to utilise all available resources at their disposal to accelerate progress. Seeking support, working with others and asking for help are the most basic but the most important growth tools they could tap into Source link
July 26, 2021 in Business News -
Millions of Koo and Hugo’s canned veg products recalled
Tiger Brands is recalling certain Koo and Hugo’s canned vegetable products produced from 1 May 2019 to 5 May 2021 due to “an extremely small number” of defective cans supplied by a packaging supplier, the FMCG company said on Monday. Source: Tiger Brands The cans may have a defective side seam weld that could cause
July 26, 2021 in Manufacturing -
Former Lebanese leaders back Mikati for premier, NNA says
Talks set to take place between Lebanese President Michel Aoun and lawmakers to try to agree on a new prime minister-designate Source link
July 26, 2021 in Business News -
Saudi Arabian Grand Prix tickets on sale as organisers eye capacity crowds
Saudi Automobile & Motorcycle Federation has released 40% of tickets initially, with a plan to increase this up to full capacity in line with the global vaccine response Source link
July 25, 2021 in Business News -
Giant Dubai property project on track for 2025 completion, says developer
Sobha Realty says nearly 30% of flagship Sobha Hartland in Dubai has been sold to investors Source link
July 24, 2021 in Business News -
UAE firm bolsters Australian hospitality portfolio with Brisbane hotel
Ghassan Aboud Group says deal for Vincent Hotel makes it Australia’s largest independent owner of five-star hotels Source link
July 24, 2021 in Business News -
Emirates expects 'high demand' after launching Miami flights
Dubai airline says it is committed to expanding services to the US after launching 12th destination Source link
July 23, 2021 in Business News -
Distell expects up to 20% rise in full-year profits
Drinks maker Distell said on Friday its full-year profit would be up to around 20% higher than a year earlier, but a fourth ban on alcohol in its home market South Africa had cost it about R30m so far. Source: Three Ships Whisky Distell, in talks with Heineken over a possible buy-out, was hit hard
July 23, 2021 in Manufacturing -
Interest rate holds steady in face of economic instability
Following the recent wave of economic instability, the Monetary Policy Committee (MPC) announced that interest rates will remain stable at 3.5% (repo rate), with the prime lending rate then remaining at 7%. Adrian Goslett, regional director and CEO of Re/Max of Southern Africa This was a prudent decision, as many have entered the property market
July 23, 2021 in Property & Real Estate -
Steady repo rate positive news for home buyers
The Monetary Policy Committee has adopted an accommodative approach, says Dr Andrew Golding, chief executive of the Pam Golding Property group, keeping the repo rate steady at 3.5% and the prime lending rate remaining at 7%. This following the vulnerability of South Africa’s economy in the wake of the recent unrest. Dr Andrew Golding, chief
July 23, 2021 in Property & Real Estate -
Repo rate unchanged at 3.5%
The Monetary Policy Committee (MPC) agreed unanimously to leave the repo rate unchanged, opting to keep it at the current 3.5% per annum. Lesetja Kganyago, Sarb governor While domestic economy grew by 4.6% in the first quarter of 2021, the MPC estimated the unrest to have fully negated the better growth results from the first
July 23, 2021 in Investments -
Dubai developer Azizi on hiring spree as real estate demand rebounds
Azizi Developments says it is upsizing by recruiting more than 200 new staff to deal with growing number of enquiries in projects Source link
July 23, 2021 in Business News -
Judges announced for 2021 Sapin Investor of the Year Awards
The SA Property Investors Network (Sapin) has announced the lineup of judges for the 2021 Investor of the Year Awards. The third annual awards is being hosted at the Marriott Hotel in Sandton on 18 November, but can be attended virtually. Investor of the Year Award team. Source: Supplied “We are thrilled with the calibre
July 22, 2021 in Property & Real Estate -
crypto is the inevitable future.
Bitcoin will hit its previous all-time highs again by the end of the year with prices driven higher by the “carefully considered arguments” and “new measured tone” being put forward by the likes of Elon Musk, Jack Dorsey and Cathie Wood at the recent The B Word Conference Bitcoin surged as much as 10% on
July 22, 2021 in Investments -
Two Gulf-based airlines named in world's top five
A new global ranking by AirlineRatings.com names both Qatar Airways and Emirates in their top five, while Etihad was also included in the top 20. Source link
July 22, 2021 in Business News -
Balancing food safety with packaging sustainability
The tension between food safety in packaging on the one hand, and environmental protection on the other, is a longstanding dilemma that has been brought into sharper focus by Covid-19. This conflict was unpacked in Tetra Pak’s global research Tetra Pak Index 2020: Covid-19 and the Food Safety-Sustainability Dilemma undertaken in partnership with Ipsos. Tetra
July 22, 2021 in Manufacturing -
3 major trends in the commercial property space in Africa
The ongoing Covid-19 pandemic has seen three major trends emerge as drivers of investment in Africa’s commercial property space. Though this sector has certainly taken a big knock, and commercial office space is still slow to recover, we are seeing positive activity in light industrial property, data centres, healthcare and pharmaceuticals, and even in hospitality,
July 22, 2021 in Property & Real Estate -
LG aims for 100% renewable energy use by 2050
LG Electronics has pledged to transition completely to renewable energy by 2050 as a key component of its sustainability strategy. The announcement formed part of the new LG Electronics Sustainability Report and comes on top of the company’s earlier promise to achieve carbon neutrality by 2030 through the Zero Carbon 2030 initiative, in which LG
July 22, 2021 in Manufacturing -
Assets of Gulf's biggest sovereign wealth funds exceed $2trn
Four Gulf-based sovereign wealth funds have been included among the world’s top 10 in July Source link
July 21, 2021 in Business News -
Average Dubai property sales prices rise by more than a third in a year
Broker Allsopp & Allsopp says average values have jumped 35% to about $810,000 since Q2 2020 Source link
July 21, 2021 in Business News -
Top UK fintech Napier opens new office in Dubai amid global growth
Provider of advanced anti-financial crime compliance solutions announces expansion to Dubai International Financial Centre Source link
July 20, 2021 in Business News -
#BizTrends2021: The commercial property sector: Where to from here?
The Covid-19 pandemic disrupted the commercial real estate sector’s traditional value proposition – virtually overnight. The industry has answered the call for flexibility and innovative strategies, but the third wave of the Covid-19 pandemic coupled with calamitous riots, looting and subsequent damage to properties has key industry players asking: “where to from here?” John Jack,
July 20, 2021 in Property & Real Estate -
China’s clamps down on US listings, here’s what investors need to know
Global investors are reeling from China’s latest announcement to heighten restrictions on its US-listed companies, including the likes of Didi, Alibaba, Tencent and Bytedance. In a recent statement, the state council, which is constitutionally synonymous with the Central People’s Government, said the regulations governing the international listing system will change, while measures that limit cross-border
July 20, 2021 in Investments -
Ethiopia says second filling of giant dam on Blue Nile complete
Ethiopia has completed filling the reservoir of its huge dam on the Blue Nile river for a second year and the plant may start generating power in the next few months, a minister said on Monday, 19 July, a move that has already angered Egypt and Sudan. Ethiopia’s Grand Renaissance Dam is seen as it
July 20, 2021 in Energy -
NCC warns against inflated prices for essential goods
The National Consumer Commission (NCC) has sent a strong message discouraging suppliers from inflating prices of essential items amid the unrest that engulfed the country the past few days. Source: Getty According to the NCC, these are the goods listed under Consumer and Customer Protection and National Disaster Management Regulations and Directions, issued in terms
July 20, 2021 in Manufacturing -
One year on, the success of the Emirates Mars Mission explained
Project director Omran Sharaf says confidence in Hope Probe is going from strength to strength Source link
July 19, 2021 in Business News -
Toyota might stop investing in South Africa after KZN violence
Toyota said it’s unsure about continuing investment in KwaZulu-Natal and the country and that it’s worried about the violence in the province. Toyota’s regional officer for Africa, Toshimitsu Imai, expressed his concerns to eThekwini mayor Mxolisi Kaunda in a letter, according to a Netwerk24 report. The authenticity of the letter was confirmed by Mzolisi Witbooi,
July 19, 2021 in Manufacturing -
Bahrain-GCC trade continues recovery after pandemic
Trade between Saudi Arabia and Bahrain accounted for around half of total Bahrain-GCC trade, at $781 million Source link
July 19, 2021 in Business News -
Why the UAE is 'ahead of the curve' in sustainability
The country is leading the region when it comes to food security but its recycling industry is still emerging, said PepsiCo regional executive Source link
July 18, 2021 in Business News -
Dubai healthcare shake-up as ruler issues law to raise global status
Establishment of Dubai Academic Health Corporation is part of the broader strategy to strengthen the knowledge economy Source link
July 18, 2021 in Business News -
Kuwait's credit rating cut for second time in two years by S&P
Ratings agency says fall in oil revenue and increased spending has pressured the Gulf nation’s fiscal outlook Source link
July 17, 2021 in Business News -
Abu Dhabi to bring in new Covid capacity limits for retail, tourism businesses
Abu Dhabi Emergency, Crisis and Disasters Committee says new restrictions will come into force from Monday Source link
July 16, 2021 in Business News -
Banning fossil fuels in sub-Saharan Africa could slow the transition to renewable energy
Electricity is vital for improving the quality of life of many in rural sub-Saharan Africa.Source: USAID_images/Flickr Take sub-Saharan Africa’s energy systems, which are currently patchy and often unreliable. Many countries’ reliance on fossil fuels has led policymakers to suggest that fossil fuel systems should either be banned or indirectly discouraged through imposing a carbon tax.
July 16, 2021 in Energy -
Operation ‘rebuild and restock’ underway as unrest wanes
The intensity and frequency of riots eased on Thursday, and businesses and residents are in the throes of repairing the damage to property and clearing the debris that has resulted from days of looting, arson and vandalism in KwaZulu-Natal and parts of Gauteng. A screen grab taken from a video shows the damage inside a
July 16, 2021 in Manufacturing -
Standard Bank set to buy out Liberty
Standard Bank is planning to buy up the 46% of shares in Liberty it does not already own, to take full ownership of the insurance company. Liberty offers life insurance, asset management, investment, and health products to more than one-million clients across Africa., while Standard Bank is Africa’s biggest lender in terms of assets at
July 16, 2021 in Investments -
Lebanon's fate hangs in balance as Hariri decides future
He submitted a draft lineup of ministers the day before to President Michel Aoun, a Maronite Christian, in what seemed to be his last attempt to reach an agreement Source link
July 16, 2021 in Business News -
Saudi sovereign fund PIF completes $140m deal for stake in port terminal
Public Investment Fund, Cosco Shipping each acquire 20% stake in Red Sea Gateway Terminal Limited Source link
July 15, 2021 in Business News -
Property winners and losers may shift in second half of the year
The last 18 months have seen some clear winners and losers in the property industry. However, things may not stay the same in the next six months, especially if we experience an extended period of high levels of Covid infections and even more shutdowns. Gary Palmer, CEO of Paragon Lending Solutions Residential property The big
July 15, 2021 in Property & Real Estate -
UAE's Air Arabia inks deal to launch new national carrier in Armenia
New Armenian airline will operate as a low-cost passenger airline under similar model used by Air Arabia Source link
July 14, 2021 in Business News -
Decentralised finance may be the panacea for filling Africa’s investment gap
African countries continue to face substantial financing gaps as they take on projects of all sizes in pursuit of development. To tackle the slowdown in foreign direct investment since the onset of the pandemic, some African countries are actively courting their diaspora and looking for pockets of cash-rich businesses around the continent. Each country is
July 14, 2021 in Investments -
South African rand, bonds under pressure amid violence
South Africa’s rand was hovering around three-month lows in early trade on Wednesday, as the country prepared for what could be another day of unrest linked in part to anger over poverty and economic inequality. South African Rand coins are seen in this illustration picture taken 30 October, 2020. Reuters/Mike Hutchings/Illustration The continent’s most industrialised
July 14, 2021 in Investments -
Effective property finance in a post-Covid-19 Africa requires a new approach to capital structuring
One of the significant impacts that Covid-19 and the global lockdowns have had on the international property markets is a fundamental shift in the financing needs of property developers and investors. Before Covid-19, the priority of the vast majority of borrowers was to reduce the cost of capital. Typically, this involved maximising the debt component
July 14, 2021 in Property & Real Estate -
Crowdfunding: Advantages and disadvantages in a post-Covid world
Given the dire straits the pandemic has created for many SMEs, it could be that crowdfunding provides a vital business lifeline beyond government and bank loans, handouts and support schemes – many of which are now drying up Source link
July 14, 2021 in Business News -
LG factory in Durban looted and set alight
LG Electronics has said in a statement that its South African factory in Durban has been looted and burned down as part of protest action. According to the Korean embassy in South Africa, roughly 90 rioters broke into the factory in Cornubia, north of Durban, at 1am on 12 July to steal appliances made at
July 14, 2021 in Manufacturing -
ESG investment: What does good look like?
Mamedupi Matsipa, CEO, Ata Capital</span>While most private equity managers undertake investments on the premise of adding value to the companies in which they invest, they should not only consider ways to improve their portfolio company’s environmental, social and governance (ESG) or green credentials, but also ensure that their investments reduce harm in the long term.
July 14, 2021 in Investments -
Emirates launches first coders club as the UAE seeks to lead digital revolution
EK Koders, created by the National Program for Coders in collaboration with the Emirates Group, is part of plan to attract and train more than 100,000 coders Source link
July 13, 2021 in Business News -
No quick recovery expected for the commercial real estate sector
Commercial tenants showed signs of recovery in the first quarter of 2021, mirroring the better-than-expected GDP figures revealed for the same period by Statistics South Africa. A recovery in the commercial real estate sector relies heavily on business recovery. Constraints to business productivity, including the continued work-from-home trend, has had a significant impact on the
July 13, 2021 in Property & Real Estate -
Tunisian garment workers fight for unpaid wages in pandemic’s shadow
Racking up debts and running out of options, Tunisian seamstress Najeh is pinning her hopes on her employer’s promise to pay four months of overdue wages in August. Source: Reuters/Siphiwe Sibeko/File Photo The 44-year-old, who declined to give her last name for fear of reprisals, is the main breadwinner in her household and has been
July 13, 2021 in Manufacturing -
$530m roads projects launched to shorten UAE travel times
Sheikh Mohammed inaugurates series of new road networks and development projects Source link
July 13, 2021 in Business News -
Interesting indices: Should you invest in tech?
Source: Image supplied</span>In 2020, big tech companies like Amazon, Apple, Google, several big gaming companies and Facebook skyrocketed in value – largely due to Covid-19. Read more… | Send to a friend Source link
July 12, 2021 in Investments -
SA manufacturing production up 35.3% in May
South African manufacturing production increased by 35.3% in May 2021 compared with May 2020. Workers sort avocados at a farm factory in Nelspruit in Mpumalanga province, about 82 km north of the Swaziland border, South Africa. Source: Reuters/Siphiwe Sibeko The largest contributions were made by the following divisions: • motor vehicles, parts and accessories and
July 12, 2021 in Manufacturing -
Business 101: Relationships and the art of the deal-maker
Relationships, from matchmaking to dating, and business investments are almost the same, says Kris Ankem, director and CTO of the Office of Sheikh Ahmed Bin Obaid Al Maktoum Source link
July 12, 2021 in Business News -
What architects need to see in manufacturers’ architectural specifications
According to Morag Evans, CEO of BuildConnect, a division of Databuild, manufacturers that fail to improve the quality of architectural specifications provided online, risk not being specified in architects’ projects. Source: Supplied “As the construction industry claws its way back to recovery, architects are under immense pressure to source building materials and products for their
July 12, 2021 in Manufacturing -
UAE's digital strategy ramps up as it partners with tech giants
Google, Microsoft, Amazon, Cisco, IBM, HPE, LinkedIn, Nvidia and Facebook, plus homegrown successes such as Emirates NBD and Dubai World Trade Centre, are among the names supporting the National Program for Coders which aims to train and attract up to 100,000 programmers. Source link
July 11, 2021 in Business News -
Dubai real estate: Short-term lets, long-term rewards
How the rental market in Dubai is moving towards a short-term, on-demand model – and what that could mean for investors Source link
July 10, 2021 in Business News -
Saudi Arabia looks to UK to 'share tourism experiences' for kingdom's megaprojects
Kingdom is seeking global personnel and investment for its huge pipeline of megaprojects, say experts Source link
July 9, 2021 in Business News -
Space-as-a-service: Thinking differently about industrial real estate
Space-as-a-service (SPaaS) – that complete paradigm shift in how the real estate industry provides value-adding products and services to tenants – is most commonly associated with retail, commercial and, to an extent, residential property. But I like to think about how it applies to what author Dror Poleg, in his book Rethinking Real Estate, refers
July 9, 2021 in Investments -
UN Security Council backs AU bid to broker Ethiopia dam deal
UN Security Council members on Thursday, 8 July, backed African Union mediation efforts between Ethiopia, Egypt and Sudan in a dispute over the operation of a giant hydropower dam on the Blue Nile in Ethiopia, urging the parties to resume talks. The Blue Nile sets the border between Amhara and Oromia regions in Ethiopia. By
July 9, 2021 in Energy -
Why Middle East countries using Chinese, Astra shots are increasingly eyeing boosters
Officials are being motivated by concerns that delta and other variants appear to be breaking down defences of vaccines not made from the super-effective messenger RNA technology, or mRNA Source link
July 9, 2021 in Business News -
European demand driving Dubai real estate's upward trajectory
Property prices reached $251.6 per sqft in June, the highest recorded in two years, mainly for completed villas in traditionally sought-after communities Source link
July 8, 2021 in Business News -
Tunisia pushing UN action on Ethiopia dam, Ethiopia opposed
Tunisia has proposed the UN Security Council push for a binding agreement between Ethiopia, Sudan and Egypt on the operation of a giant hydropower dam within six months, according to a draft resolution seen by Reuters on Wednesday, 7 July. Ethiopia’s Grand Renaissance Dam is seen as it undergoes construction work on the river Nile
July 8, 2021 in Energy -
Emirates named most recommended brand in UAE, according to YouGov survey
Dubai-based carrier was rated number one with a score of 91.4 percent, ahead of iPhone (89.4 percent), Adidas (88.8 percent), Nike (86.9 percent) and fellow UAE airline Etihad Airways taking fifth spot (86.3 percent) Source link
July 8, 2021 in Business News -
Why Zoom in the Middle East remains in focus despite office return
Global results for the first quarter of the year – Zoom is unable to provide regional breakdowns – revealed total revenues of $956.2m, up 191% year-on-year Source link
July 7, 2021 in Business News -
UN urges Ethiopia, Egypt and Sudan to recommit to dam talks
The United Nations called on Ethiopia, Sudan and Egypt on Tuesday, 6 July, to recommit to talks on the operation of a giant hydropower dam, urging them to avoid any unilateral action, a day after Ethiopia began filling the dam’s reservoir. The Blue Nile River is seen as the Grand Ethiopian Renaissance Dam reservoir fills
July 7, 2021 in Energy -
Nedbank IMC speaker Khensani Nobanda
Khensani Nobanda, group executive Marketing and Corporate Affairs at Nedbank (the IMC’s naming sponsor) is going to be in conversation with group CEO Mike Brown, discussing how to ensure your CEO doesn’t see marketing as an indecent proposal. “I think it’s a key topic because a lot of times marketing is looked at as a
July 7, 2021 in Investments -
Crown Prince says Dubai tourism rebound is 'gathering pace' in 2021
Latest figures show Dubai attracted 3.7m tourists since the city reopened its borders to international visitors a year ago Source link
July 6, 2021 in Business News -
Impact investing’s growing attraction
The principles of environmental, social and governance (ESG) investing are capturing the growing attention of mainstream investors who are seeking attractive returns but also a new social contract with all stakeholders. This is contributing to the significant increase in flows out of traditional equity funds, and into ESG-focused funds. Assets in sustainable funds globally hit
July 6, 2021 in Investments -
Commercial property buying/selling markets substantially oversupplied
We continue with the second quarter 2021 results of our FNB Commercial Property Broker Survey, which surveys a sample of commercial property brokers in and around the six major metros of South Africa, namely, City of Joburg and Ekurhuleni (Greater Johannesburg), Tshwane, Ethekwini, City of Cape Town and Nelson Mandela Bay. Given FNB Commercial Property
July 6, 2021 in Property & Real Estate -
Egypt notified that Ethiopia has resumed filling of giant dam
Egypt’s irrigation minister said on Monday, 5 July, he had received official notice from Ethiopia that it had begun filling the reservoir behind its giant hydropower dam, the Grand Ethiopian Renaissance Dam (GERD), for a second year. Ethiopia’s Grand Renaissance Dam is seen as it undergoes construction work on the river Nile in Guba Woreda,
July 6, 2021 in Energy -
Botswana issues licence for first large scale solar power plant
The Botswana energy regulator has granted a generation licence for a 100MW solar project to local firm Shumba Energy, a company executive said on Monday, making it the first independent power producer to set up a large scale solar plant in the country. A solar plant is seen in Uyayna, north of Riyadh, Saudi Arabia
July 6, 2021 in Energy -
Saudi Aramco appoints ex-HSBC CEO Stuart Gulliver to board
HSBC was the only international adviser to hold a senior role on Aramco’s 2019 initial public offering, the world’s largest Source link
July 6, 2021 in Business News -
Saudi Arabia says to add tariffs on imports from GCC free zones, Israel
Decree issued as Saudi Arabia increases pressure on international firms to shift their Middle East hubs to the kingdom Source link
July 5, 2021 in Business News -
Inflation: a concern or opportunity?
For many years prior to 2020, the word “inflation” was less prevalent in investment vocabularies. However, it is one of the words most bandied about in markets. For some investors it is a concern, and for others it represents an opportunity. In the short term, economic indicators, both globally and in SA, are showing price
July 5, 2021 in Investments -
Must companies offering financial assistance register as a credit provider?
Is a company that provides a loan to a person to buy shares in that company required to register as a credit provider in terms of the National Credit Act 34 of 2005 (NCA)? Darryl Furman, director, Fluxmans In considering the answer one must have reference to both the NCA and the Companies Act 71
July 5, 2021 in Investments -
UAE approves use of Moderna coronavirus vaccine: reports
Ministry of Health and Prevention has approved of the vaccine’s emergency registration after clinical trials Source link
July 4, 2021 in Business News -
OPEC+ fails to reach output deal with talks kicked to Monday
Talks ended without a deal to increase output after the United Arab Emirates stuck to demands for better terms Source link
July 4, 2021 in Business News -
Oman's tourism arm appoints Barcelo Hotel Group to run all-inclusive resort
Oman Tourism Development Company says it aims to re-position Al Mussanah as an all-inclusive family destination Source link
July 3, 2021 in Business News -
How Dubai attraction is providing 'global' platform for start-ups
CEO of Global Village believes venue is an ideal incubator for new businesses and companies looking to enter the emirate, the country and the region Source link
July 3, 2021 in Business News -
Dubai chases 100,000 business leaders to maximise Expo 2020 impact
Newly formed board of Dubai Chamber of Commerce has adopted a 90-day plan to drive business growth in the emirate Source link
July 2, 2021 in Business News -
Emira Property Fund raises R805m sustainability-linked debt financing
Emira Property Fund has listed a new unsecured three-year R380m sustainability-linked bond as part of its DMTN programme. The Reit worked with investors to incorporate sustainability targets into the terms of the note. On that basis, the issue received more demand than could be executed. The oversubscribed issue, arranged by RMB, attracted five investors, and
July 2, 2021 in Property & Real Estate -
UN Security Council likely to meet next week on Ethiopia dam
The United Nations Security Council will likely meet next week to discuss a dispute between Sudan, Ethiopia and Egypt over a giant dam built by Ethiopia on the Blue Nile, French UN ambassador Nicolas de Riviere said on Thursday, 1 July. Ethiopia’s Grand Renaissance Dam is seen as it undergoes construction work on the river
July 2, 2021 in Energy -
Emaar teams up with supercar maker Lamborghini to offer luxury Dubai villas
Purchasers of the cluster of 40 luxury villas can enjoy upscale design inspired by Automobili Lamborghini Source link
July 1, 2021 in Business News -
Absa PMI expands at slower rate in June
South Africa’s seasonally-adjusted Absa Purchasing Managers’ Index (PMI) expanded at a slower rate in June as growth in sales orders and business activity slowed, a survey showed on Thursday. Source: Getty The index, a gauge of manufacturing activity in Africa’s most industrialised economy, fell slightly to 57.4 points in June from 57.8 points in May,
July 1, 2021 in Manufacturing -
Bongumusa Makhathini to lead Empowerment Capital as CEO
A Harvard Business School graduate and current chairman of the SABC Board, Bongumusa Makhathini has held several directorships, including at SA Breweries (director of Corporate Affairs & Transformation), British American Tobacco (director of Legal & External Affairs) and African Commercial Diplomacy Consulting (managing director). Bongumusa Makhathini, Empowerment Capital Investment Partners’ first CEO Makhathini has been
July 1, 2021 in Investments -
India's latest flight ban extension labelled 'shocking' by leading travel official
Directorate General of Civil Aviation announced the extension until July 31 in a circular on Wednesday Source link
July 1, 2021 in Business News -
How Dubai aims to become major hub for global digital economy
UAE’s Minister of State for Artificial Intelligence is named chair of the new Dubai Chamber of Digital Economy Source link
June 30, 2021 in Business News -
Dubai's new official crowdfunding platform scores first successes
Dubai Next, launched by Crown Prince Sheikh Hamdan last month, helps to secure funding for start-ups Source link
June 29, 2021 in Business News -
New UAE initiatives drive economic growth, support family-owned businesses, start-ups, SMEs
Among the new initiatives are the Skill-Up Academy for entrepreneurs, the Scale-Up platform for start-ups looking to grow, and the Grow in UAE web portal that will provide information about policies and investment in the UAE Source link
June 29, 2021 in Business News -
Volkswagen to launch electric vehicles in region in 'two-or-three years'
German car manufacturer has previously said it plans to invest around $19bn in future trends such as ‘e-mobility, hybridisation and digitalisation’ by 2025 Source link
June 28, 2021 in Business News -
6 savvy money tips when you start your first job
When you’re young and just started working, your financial planning is the furthest thing on your mind, but the biggest lesson you can learn as you start out on your journey is don’t get trapped in living from pay cheque to pay cheque, rather work smart with your money. “Debt can be healthy and unhealthy.
June 28, 2021 in Investments -
What is PrimeXBT? All about the award-winning broker
The crypto market is brimming with competition – companies and corporations everywhere are seeking a piece of the emerging asset class and nascent technology. In no sector is competition more fierce than in the realm of trading platforms, each offering more interesting and compelling selling points than the next. Few of these platforms, however, have
June 28, 2021 in Investments -
Inospace’s latest acquisition set to become a micro-logistics and distribution park
Inospace, the South African business park specialist, has acquired a new multi-let industrial property in Cape Town’s northern suburbs. The property is Inospace’s fifth acquisition this year. The 8,005m² property in Peerless Park, Kraaifontien is currently leased to 22 small and medium-sized companies and will be renamed Peer Works. It will become the company’s 18th
June 28, 2021 in Investments -
Sudan rejects Ethiopian plan to fill giant dam a second time
Sudan has rejected an Ethiopian proposal to manage the filling for a second time of a giant dam that it is building on the Blue Nile, a senior official said on Sunday, 27 June, deepening a regional dispute over the project. Ethiopia’s Grand Renaissance Dam is seen as it undergoes construction work on the river
June 28, 2021 in Energy -
Binomo platform review and step-by-step trading guide
You have most likely come across Binomo in South Africa. This article will review a website and an app replying to the question: How does Binomo work? to help you make a wise decision regarding whether to proceed. You can use this guide to get started. Some beginners may ask “How to play Binomo?”, but
June 28, 2021 in Investments -
Emaar Properties' outlook revised to stable from negative amidst Dubai premium property boom
S&P Global Ratings also affirmed its BB+ long-term issuer credit ratings for the company and its subsidiary Emaar Malls PJSC Source link
June 28, 2021 in Business News -
Dubai-based online glasses retailer eyewa raises $21m
Eyewa has a presence in the UAE, Saudi Arabia, Kuwait, Qatar, Oman and Bahrain Source link
June 27, 2021 in Business News -
Dubai restructures business chambers to lead 'economic transformation'
Ruler Sheikh Mohammed bin Rashid Al Maktoum announces move to create new entities for commerce, digital economy and international trade Source link
June 26, 2021 in Business News -
UAE remains on UK travel red list, quashing hopes of air route revival
No Middle Eastern countries are added to Britain’s quarantine-free travel list in latest blow to regional tourism industry Source link
June 26, 2021 in Business News -
When are electronic signatures binding on sale of property agreements?
Rapid advances in technology, as well as more people working remotely and avoiding face-to-face meetings, has resulted in an increase in documents being signed electronically. When it comes to the signature of agreements of sale for immovable property, people are well advised to be cautious before putting their pens aside and embracing the various applications
June 25, 2021 in Property & Real Estate -
Bank of Sharjah to deliver $27m bonus share issue after 'resilient' 2020
Bank’s chairman says move is a ‘firm endorsement’ of strong underlying profitability and operational performance Source link
June 25, 2021 in Business News -
Mercedes-Benz invests R3bn into South African manufacturing plant
Mercedes-Benz Cars has a announced a R3bn investment into the Mercedes-Benz East London plant. This comes after the car manufacturer made a R10bn investment into the same plant in 2018. Jörg Burzer, a member of the Mercedes-Benz Cars board, said: “South Africa is an important location in our global Mercedes-Benz production network. The team in
June 25, 2021 in Manufacturing -
Why a competitive local fashion industry needs the creativity of designers
The creativity of fashion designers is a valuable resource that must be nurtured if African countries are to grow their fashion industries into competitive global players. This was the impassioned message from Lucilla Booyzen, CEO of SA Fashion Week, during a recent Fashionomics Africa webinar titled Textile and Fashion Value Chains: Opportunities for the Private
June 25, 2021 in Manufacturing -
5 questions to ask when looking for a contract manufacturer
More and more small and medium business owners in South Africa are looking to develop bespoke brands in consumer product lines such as health and beauty as a way of creating value and differentiating themselves in a competitive market. They are answering the call from consumers for unique products that offer alternatives to the international
June 25, 2021 in Manufacturing -
Deutsche Bank partners with Oracle to accelerate technology modernisation
Deutsche Bank selects Oracle Exadata Cloud@Customer to consolidate key databases in its selected data centres. The innovation partnership aims to modernise Deutsche Bank’s mission-critical databases and enable new financial products and services Source link
June 24, 2021 in Business News -
Highest electricity price increase of last decade
As South Africans, we’ve become rather accustomed to the prices of just about everything going up on an annual basis. Electricity is no different. With Eskom, South Africa’s national energy provider, facing various challenges which look set to continue for the foreseeable future, 2021 will see the highest electricity price increase of the last decade.
June 24, 2021 in Property & Real Estate -
What questions should you ask before buying a business?
When you’re looking to buy a business, there are a number of considerations to make before you commit. Ascertaining any red flags when buying a business can be done by having specific business-related questions answered. These questions revolve around financial, legal, and operational factors, as well as assets. This will help give you insight into
June 24, 2021 in Investments -
SIU granted order to freeze bank accounts of Digital Vibes
The Special Investigating Unit (SIU) has been granted a preservation order to freeze approximately R22m held in bank and investment accounts linked to Digital Vibes (Pty) Ltd. The order was granted on 17 June 2021 by the Special Tribunal. This is as part of taking action against those implicated in corruption, maladministration and malpractice, in
June 24, 2021 in Investments -
UK travel industry protests, as Britain loses $132.6m on UAE route in one week
British tourism bodies up in arms as government continues to limit global travel, putting millions of livelihoods at risk Source link
June 24, 2021 in Business News -
Kuwait's $134bn pension fund has record gain in turnaround
Fund recorded 20.9% growth in assets in the year ended March 31 Source link
June 23, 2021 in Business News -
What to look for when selecting a real estate agent
Property investment is a costly affair, so one should take as much care in selecting the right sales or rental agent as one would choosing a babysitter. Source: Supplied The Rawson Property Group’s regional sales and commercial manager, Craig Mott, and national rentals manager, Jacqui Savage, share their advice on the attributes you should be
June 23, 2021 in Property & Real Estate -
Saudi Arabia extends Covid loan support for small businesses
Deferred Payment Program has already impacted $45bn of payments since it began in March 2020 Source link
June 23, 2021 in Business News -
Multinationals don’t approach investing in Africa the same way: the differences matter
But, in reality, how do multinationals respond both to global norms and diverse local expectations? This is especially salient in some African contexts. Many governments have developed empowerment regulations to increase the participation of local people in the economy. The aim has been to address the legacy of colonial policies that excluded citizens from controlling
June 22, 2021 in Investments -
Discovery Invest announces new investment solution in partnership with Goldman Sachs Asset Management
In this changing world, trends are emerging that are set to transform investment markets globally… Discovery Invest has partnered with Goldman Sachs Asset Management, to introduce a new investment opportunity giving access to a range of thematic equity portfolios designed to give exposure to global megatrends. The Discovery Global Megatrends Fund is available on both
June 22, 2021 in Investments -
Go to Sleep: The first step towards physical and mental health
The benefits of healthy sleep are numerous: a longer life, improved memory and increased creativity, physical health and weight control Source link
June 22, 2021 in Business News -
SA suppliers reap rewards of Massmart’s localisation journey
Massmart, the owner of Makro, Game and Builders Warehouse, says its localisation focus is bearing fruit with visible benefits being experienced by both the group as well as an increasing number of local suppliers. During the past nine months, the group, in partnership with the Department of Trade Industry and Competition (DTIC), has reviewed its
June 22, 2021 in Manufacturing -
AB Talks: Why citizenship by investment is becoming increasingly popular
Scott Armstrong, editor-in-chief, will be joined by experts to discuss how alternative citizenships offer invaluable opportunities to high net worth individuals to travel freely, gain access to better tax jurisdictions and explore new investment opportunities Source link
June 21, 2021 in Business News -
Steady interest rate sees bond applications continue to climb
The current record-low interest rate has sparked activity from buyers across all price bands, with one mortage originator seeing an almost 60% increase in bond applications for May, when compared year-on-year. Source: © Susan Richey-Schmitz – 123RF.com This growth is significant, as it compares favourably with the massive uptick in bond applications seen this time
June 21, 2021 in Property & Real Estate -
MENA mergers and acquisitions expected to accelerate post-pandemic
The pandemic has forced many companies to restructure, and the trend is likely to continue as consolidation occurs across sectors Source link
June 21, 2021 in Business News -
How Kuwait's $600 billion wealth fund got caught in political crossfire
The Kuwait Investment Authority, the world’s oldest state investment vehicle, has been in limbo since its board’s tenure expired two months ago Source link
June 20, 2021 in Business News -
Deyaar Facilities Management's CEO named FM executive of the year
Under Mohamad Abou Laban the Deyaar FM staff accommodation was upgraded and moved to Al Quoz, reflecting on a higher staff retention and satisfaction Source link
June 19, 2021 in Business News -
UAE's medical device market set to grow to $1.5bn by 2025 on tech advances
New research highlights annual compound growth rate of 4.4% over five years Source link
June 19, 2021 in Business News -
Abu Dhabi suspends green pass system, use of Alhosn app
The crash was caused by a surge in new subscriptions after Abu Dhabi implemented its green pass system that relies on the use of the app to enter shops, malls, events and other facilities Source link
June 18, 2021 in Business News -
Where to next? The case for crypto-asset regulation just got bigger
The alleged loss of some $3.6bn Bitcoin through Africrypt investment company brings home just how risky this asset class truly is. Such incredible loss, though unfortunately not yet falling under the Financial Services Conduct Authority’s (FSCA’s) direct responsibility is likely to impact the velocity of crypto-asset regulatory development. The recent announcement by the Intergovernmental Fintech
June 18, 2021 in Investments -
Bahrain's Batelco said to mull dual listing in Saudi Arabia
Sources say Batelco has hired the investment arm of Samba Financial Group as an adviser on the deal Source link
June 18, 2021 in Business News -
Summer subscription offer: Unlock exclusive Arabian Business content, get a complimentary beverage holder
When you subscribe, you’ll also gain access to exclusive columns from globally renowned writers and thought leaders and stream “On Demand” footage from our market leading AB Forums. Source link
June 17, 2021 in Business News -
Colossal Concrete Products acquires Aveng Infraset’s Brakpan, De Aar plants
In a partnership branded Colossal Concrete Products, Mahuma Investment Holdings (MIH) and Randvest Capital Investments, along with two other investors, have acquired Aveng Infraset’s Brakpan and De Aar facilities. Colossal Concrete Products CEO Gwen Mahuma “Following a professional, smooth and synergistic transaction with Aveng, which is effective from June 1, the two precast concrete facilities
June 17, 2021 in Manufacturing -
Gulf IPO activity disappoints in Q1 as global markets hit 20-year high
Middle East and North Africa sees just three IPOs raising $294.8m during the first quarter of 2021, down 64% on Q1 2020 Source link
June 16, 2021 in Business News -
How the UAE aims to deliver personalised healthcare for Emiratis
Sheikh Mohammed approves the formation of the board of the Emirati Genome Program Source link
June 16, 2021 in Business News -
Australia’s Fortescue in talks on giant Congo hydro project
Australia’s Fortescue Metals Group said on Tuesday, 15 June, it was in talks with the Democratic Republic of Congo’s government to develop a hydroelectric power project that could become the largest in the world. Grand Inga 3. Photo: Congo Research Group The discussions concern exclusive rights for Fortescue’s green energy unit to develop the more
June 15, 2021 in Energy -
IT could hold back digital innovation at UAE organisations
Empowering ‘citizen developers’ to lead innovation will enable UAE organisations to effectively overcome technical skills shortages and reduce time to market for new digital services Source link
June 15, 2021 in Business News -
Sectional title becoming most popular choice for Sandton home buyers
According to recent data from Lightstone Property, sectional title properties are becoming the segment of choice for home buyers in Sandton. Estate and sectional title stocks in Sandton have soared since 1994, during which time sectional title accounted for 41% of newly developed properties and the majority were released in Paulshof. In 2020, sectional title
June 15, 2021 in Property & Real Estate -
A preservation ‘revival’ will supercharge South Africa’s retirement outcomes
South Africa’s retirement outcomes will improve radically if all retirement funding contributions are kept invested when fund members change jobs. Other quick wins include increasing the minimum government pension; delaying the government retirement age beyond 60 years; and refocusing the industry from saving a lump sum at retirement to providing a sustainable income in retirement.
June 15, 2021 in Investments -
Exclusive-Galp to hold off on LNG investment until Mozambique ensures security
Portugal’s Galp Energia , a partner in an Exxon Mobil-led gas consortium in Mozambique, will not invest in onshore plants there until authorities guarantee security and social stability, which may take time, CEO Andy Brown told Reuters. A Galp Energia refinery is seen near Sines, file. Reuters/Rafael Marchante This marks a second setback to Mozambique’s
June 15, 2021 in Investments -
Dubai's Shuaa Capital set to go digital with new wealth platform
The platform, managed by newly appointed chief digital officer Hadi Raad, seizes a market opportunity in millennials and regional HNWIs Source link
June 14, 2021 in Business News -
PIC not funding SAA 51% stake takeover
The Public Investment Corporation (PIC) has confirmed that it is not funding the 51% stake acquisition in South African Airways (SAA). The confirmation comes after media reports and comments over the weekend suggested that PIC funds will be used for the acquisition of the stake by Takatso Consortium. “The PIC is not involved in this
June 14, 2021 in Investments -
SA signs plan to revive steel industry
South Africa has signed a plan that aims to revive the local steel industry and boost output, the Department of Trade, Industry and Competition said on Sunday, 13 June. A worker cuts through steel at the Southern African Shipyards in Durban. Reuters/Rogan Ward The master plan for the steel and metal fabrication sector – an
June 14, 2021 in Manufacturing -
5 reasons why now may be the time for homeowners to sell
The residential property market inevitably moves through cycles and homeowners are always wanting to know if now is the right time to sell and move or not. There are a number of reasons why now may be the right time for sellers to list their properties. 1. The market is slowly shifting The residential property
June 14, 2021 in Property & Real Estate -
TUHF launches Sustainable Bond Framework, first social bonds
TUHF, with the assistance of Standard Bank, has launched its Sustainable Bond Framework and first social bonds. TUHF is a non-bank financial services company that borrows money from the capital markets and invests it in inner-city areas, extending finance to small scale property entrepreneurs who want to grow their rental businesses. In particular, TUHF targets
June 11, 2021 in Property & Real Estate -
Post-pandemic warehousing goes digital in 2021
The global Covid-19 pandemic has altered how manufacturers view warehousing and distribution. Global lockdown caused demand and supply shock waves to ripple around the globe and shift at lightning speed as consumers were forced to swap in-store purchases to online shopping. In spite of the enduring crisis, a silver lining seems to be emerging. Recent
June 10, 2021 in Manufacturing -
Funding provided, 0% interest for investments in SilverLeaf
Time is running out to invest in the fastest growing industry on the planet, with the section 12J tax investment incentive, which ends on the 30 June 2021. “Astute investors still have an opportunity to invest in a brand new asset class, behind a solid management team, with super high investment returns and a remarkable
June 10, 2021 in Investments -
Here's what you can learn at Salesforce Live: Middle East
The cloud-based software firm has gathered together thought leaders to discuss how digital transformation, smart data and tech-driven innovation can help businesses level up in a post-pandemic world Source link
June 10, 2021 in Business News -
Aquasky’s Brendan Williamson on extracting water from the clear blue sky
Necessity breeds innovation, and this was certainly the case during Cape Town’s 2017/18 drought when dam levels reached alarming levels. The city was brimming with ideas and possible solutions from all spheres on how to avoid Day Zero – the day household taps would run dry. This is where Aquasky’s startup story begins – a
June 10, 2021 in Manufacturing -
North West govt intervenes in Clover factory closure
North West Premier, Prof Tebogo Job Mokgoro, has dispatched a team to meet the management of Clover in an effort to halt the looming relocation of the company to Durban and save jobs. The team, led by the MEC for Agriculture and Rural Development, Desbo Mohono, visited the factory on Tuesday. Clover recently announced that
June 10, 2021 in Manufacturing -
FNB’s Nicholas Riemer is passionate about financial education
Sharing knowledge that helps people make better investment decisions is a huge reward factor for Nicholas Riemer. The 31-year-old heads the investment education space within FNB Wealth and Investments, and lectures on certain financial topics to UJ, Monash as well as the South African Institute of Chartered Accountants (Saica) board courses when time permits. Nicholas
June 10, 2021 in Investments -
Jazeera set to launch Heathrow flights despite Kuwait's amber list status
Airline to become the first low-cost carrier in the Middle East to operate direct flights to London Heathrow Source link
June 9, 2021 in Business News -
Sars should give crypto investors more carrot and less stick
It has been more than three years since the South African Revenue Service’s (Sars’) media statement on cryptocurrencies, in which it said that it would apply “normal income tax rules” to cryptocurrencies when assessing whether a gain is revenue or capital in nature, and that crypto assets are not seen as currency for income tax
June 9, 2021 in Investments -
Dubai's cancer care ambitions receive $60m boost from donors
Hamdan Bin Rashid Cancer Charity Hospital is set to open its doors to the first patients in 2023 Source link
June 9, 2021 in Business News -
GCC economies continue innovating beyond pandemic
The Gulf is home to Dubai and Abu Dhabi, both of which lead the pack of the Middle East and North Africa’s smartest cities, and GITEX will play host to innovative economic leaders from across the GCC as they look at how to continue developing beyond the pandemic Source link
June 8, 2021 in Business News -
South African Breweries turns investment taps back on for home market
South African Breweries (SAB), part of Anheuser-Busch InBev, has reinstated its investment programme that was cancelled last year, allocating R2bn for its home operations, the company said on Monday. A bartender serves a beer produced by brewing company SAB Miller at a bar in Cape Town, September 16, 2015. Reuters/Mike Hutchings/File Photo The maker of
June 8, 2021 in Manufacturing -
How technology advances will make the Gulf's local manufacturing ambitions a reality
Region-wide manufacturing and industrialisation strategies are making their presence felt and specialised free zones with financial, leasing, and protocol incentives have sprung up to service these ambitions Source link
June 7, 2021 in Business News -
Reinflation is the watchword in recovering economies
The past 15 months have been an interesting but uncertain time in global markets. As several major economies started to emerge from the pandemic, the first quarter of 2021 was all about reflation – a belief that massive fiscal stimulus, historically low-interest rates and the reopening of economies on the back of Covid-19 vaccinations will
June 7, 2021 in Investments -
Thungela starts trading on JSE after unbundling from Anglo American
Thungela Resources started trading on the Johannesburg Stock Exchange (JSE) today, marking the completion of its demerger and separation by Anglo American’s South African thermal coal assets. July Ndlovu, CEO, Thungela Resources “We are excited to be listing Thungela today. The company plays an important role in providing affordable energy to both our customers in
June 7, 2021 in Investments -
Chalhoub Group to up share of local Saudis, women in workforce
In its 2020 sustainability report, the group sets new targets for its strategy in Saudi Arabia for the next three years, and its goals are in line with Saudi Arabia’s Vision 2030 Source link
June 7, 2021 in Business News -
UAE's F&B industry on steady recovery path
Dine-ins in quick bites and cafe menu categories saw the biggest uptick in Q1 2021, new research indicates Source link
June 6, 2021 in Business News -
Emirates chief hails Miami flights plan as vote of confidence in travel rebound
Sheikh Ahmed says July 22 launch also shows commitment to the US market after coronavirus crisis Source link
June 5, 2021 in Business News -
Ruler says Qatar is ready to host World Cup despite pandemic challenge
Sheikh Tamim bin Hamad Al Thani says Qatar’s preparations for 2022 World Cup are nearing completion Source link
June 5, 2021 in Business News -
Reasons to be hopeful as 2021 emerges from the shadow of the pandemic
There is a prevailing mood of optimism, even in sectors hard hit by coronavirus, specifically in the UAE and the GCC generally, writes Ali Akawi, CEO of ITP Media Group Source link
June 4, 2021 in Business News -
Digesting the Commission’s decision on Burger King deal
For the first time in 20 years, a merger may be prohibited on public interest grounds alone. A ground-breaking recommendation by the Competition Commission (Commission) to the Competition Tribunal (Tribunal) to prohibit the proposed sale by Grand Parade Investments Limited (GPI) of its investment in Burger King (South Africa) to a US private equity firm
June 4, 2021 in Investments -
South Africa’s fiscal deficits declining “faster than expected”
South Africa’s fiscal deficits are declining slightly faster than initial expectations, but slow progress on the rollout of coronavirus vaccines and structural reforms will continue to hamper progress, ratings firm S&P Global said on Thursday. The S&P Global logo is displayed on its offices in the financial district in New York City, U.S., December 13,
June 4, 2021 in Investments -
UAE remains on UK's travel red list, Bahrain added as Covid concerns rise
UK Government adds a further seven countries to its ‘no-fly’ list as country fears third wave of pandemic Source link
June 4, 2021 in Business News -
UAE seeing a 'rush' of applicants for US EB-5 visa programme ahead of court ruling
The Northern District California court is expected to give its judgment later this week on a lawsuit challenging certain amendments EB-5 regulations, which, according to immigration experts, could potentially bring down the investment requirement to the earlier level of $500,000 Source link
June 3, 2021 in Business News -
Midday outdoor working ban in UAE to start from June 15
Companies who do not comply will be faced with a fine of AED5,000 per worker and a maximum of AED50,000 should several employees be found to be working during the ban Source link
June 2, 2021 in Business News -
Covid-19 has shown that following the same road will lead the world over a precipice
The devastating consequences of Covid-19 have led to a deepening recognition that business as usual is highly destabilising and the source of our darkest fears. It has shattered the mental mirrors that have prevented us from breaking from the past and embracing new horizons. In “Rescue: From Global Crisis to a Better World I show
June 2, 2021 in Investments -
Spanish football league LaLiga moves Middle East HQ to Dubai's DMCC
Move comes as the MENA region is becoming an increasingly important market for the Spanish league Source link
June 2, 2021 in Business News -
Five ways to become a better leader
The sure-shot way to be a leader is a cakewalk, but it requires great courage to emerge unique and better than the rest Source link
June 1, 2021 in Business News -
SA manufacturing expands at faster rate in May
South Africa’s manufacturing activity expanded at a faster pace in May as new sales orders grew, driven by domestic demand, the seasonally adjusted Absa Purchasing Managers’ Index (PMI) showed on Tuesday. A worker checks bottles of wine coming out of a production line at Nederburg Wine Estate in Paarl, South Africa, 8 July 2020. Reuters/Mike
June 1, 2021 in Manufacturing -
Regulatory compliance will help economic recovery and sustainability in South Africa
For South Africa to work towards post-Covid economic recovery it will be necessary to reprioritise compliance to ensure both economic and environmental sustainability in the long term. Most organisations are fast realising that a compartmentalised approach to tackling compliance issues is becoming difficult to maintain as regulations increase to determine how these industries are run.
June 1, 2021 in Investments -
Dubai's Leams Education reveals roadmap for expansion
Affordable schools provider outlines vision to increase presence in UAE and grow into emerging markets Source link
May 31, 2021 in Business News -
Pieter Hanekom to replace Rhodes Food Group CEO of 22 years
Bruce Henderson, who has served as CEO of Rhodes Food Group for 22 years, is to retire in September this year and will be succeeded by Pieter Hanekom, the company announced on Monday. Based in Groot Drakenstein in the Western Cape, RFG’s growing portfolio of brands include the flagship Rhodes brand, Bull Brand, Bisto and
May 31, 2021 in Manufacturing -
Get R1 for every 55c you invest into a 12J – CPD Accredited Investor Summit, 2 June, online. Register now
This is your last chance to choose where your tax money goes. The sunset is upon us. Attend our free, final 12J Summit and have all your 12J questions answered. Investing in Section 12J is low hanging fruit and should be top of mind for every savvy investor. This is a last opportunity for South
May 31, 2021 in Venture Capital -
Commission suggests blocking R1bn acquisition of The Building Company
The Competition Commission has recommended to the Competition Tribunal that the proposed takeover of Pepkor’s hardware company The Building Company by Cashbuild be prohibited. As part of the acquisition, Cashbuild would have paid R1,1bn for The Building Company, which owns Buco, TimberCity, Tiletoria and other brands. Credit: Alexander via Pexels “The Commission found that the
May 31, 2021 in Manufacturing -
Don’t use your commercial property loan like an overdraft
In the current economic environment, businesses are keen to reduce debt by paying down their commercial loans. While this is a facility that banks offer their clients, and there are valid reasons to pay off a commercial property loan early, many clients unwittingly do so for the wrong reasons and to their own detriment. Preggie
May 31, 2021 in Property & Real Estate -
What investors must do in order to avoid financial advice 'sharks'
Opening panel at latest AB Money Forum stresses importance of trust in financial advisors Source link
May 31, 2021 in Business News -
Marriot Hotels debuts in Lagos, Nigeria
Marriott Hotels has announced its debut in Nigeria with the opening of Lagos Marriott Hotel Ikeja. Volker Heiden, area vice president – sub Saharan Africa, Marriott International, says: “We are excited to have opened the Lagos Marriott Hotel Ikeja, bringing Marriott Hotels’ transformed vision to Nigeria. “Lagos is a vibrant and bustling city
May 31, 2021 in Property & Real Estate -
Is it the best of times for Bitcoin or the worst of times?
Following the volatility in the value of the cryptocurrency, Dominic Frisby, the author of Bitcoin: the Future of Money? discusses whether it’s a crash or correction, and looks at the ‘Musk’ effect. Source link
May 30, 2021 in Business News -
Focus on the bottom line: Making your e-commerce business profitable
During the pandemic, existing e-commerce stores witnessed an unprecedented increase in sales, and many new players have entered this exponentially growing industry Source link
May 30, 2021 in Business News -
Dubai's DXB named world's busiest international airport in May
According to aviation analysts OAG, Dubai International Airport topped the global list with nearly 1.9 million scheduled seats despite ongoing impact of coronavirus Source link
May 29, 2021 in Business News -
Authorities issue 'scam' warning after new cryptocurrency targets Dubai
Dubai Electronic Security Centre says ‘DubaiCoin’ is an elaborate phishing campaign designed to steal personal information Source link
May 28, 2021 in Business News -
Summit to stimulate investment into Africa
SingularityU announces Exponential Finance Summit 2021, aimed at growing investment ecosystem in Africa SingularityU South Africa has announced its plans to host the SingularityU Exponential Finance Summit online in 2021. Taking place from 28-30 July 2021, the summit aims to build and grow an African investment innovation ecosystem by connecting South Africa and Africa’s top
May 28, 2021 in Venture Capital -
Influencers and the markets. Who will have the last say
A divisive Tweet from Elon Musk threw Bitcoin into disarray on 13 May, leaving traders wondering about the future of the cryptocurrency. Historically speaking, market reactions prompted by individuals go back a long way. We could look back at the time of JP Morgan himself in the 1920s, making various statements that led to the
May 28, 2021 in Investments -
Facing uncertainty at home, Latin America's wealthy look towards Dubai
A growing number of Latin America’s wealthy business people are looking to the UAE for 10-year investor visas, according to Damacorp Source link
May 28, 2021 in Business News -
Is it time to build your financial future? The AB Money Forum is back and here to help with a host of experts
Our exclusive in-person event at the JW Marriot Marquis in Dubai on May 31 will offer up insight on investing, real estate, crypto, online trading and the golden rules for growing your portfolio. Source link
May 27, 2021 in Business News -
Early investors to share in profit from UK government-backed SA vertical business jet
What would Naspers do to find another investment as rewarding as Tencent, and Sequoia Capital, the only venture investor in WhatsApp, which turned its $60m investment into $3bn when Facebook acquired the messaging service, do to find another winner like that? According to the Harvard Business Review, the venture capital business is no longer that
May 27, 2021 in Investments -
Green calendar aims to boost Dubai's status as sustainable tourism destination
Department of Tourism and Commerce Marketing targets residents and visitors with new ‘Get into the Green Scene’ initiative Source link
May 26, 2021 in Business News -
How ‘flipsters’ are changing the property landscape
There is a new breed of home flippers in the property space who are doing things their own way and, in doing so, not only establishing a host of new property trends, but transforming whole neighbourhoods, according to Yael Geffen, CEO of Lew Geffen Sotheby’s International Realty. Image supplied “Flipsters are hipsters who flip homes,
May 26, 2021 in Property & Real Estate -
5th MSCI South Africa Green Annual Property Index out now
Released annually, in conjunction with the Green Building Council of South Africa (GBCSA) and sponsored by Growthpoint Properties, the MSCI South Africa Green Annual Property Index provides an independent, globally consistent view on the investment performance of green-certified and non-certified offices. Growthpoint office development at 29 Richefond Circle, Ridgeside, Umhlanga, KZN At the end of
May 26, 2021 in Property & Real Estate -
Emirates REIT debt exchange offer rejected by group of creditors
Shariah-compliant real estate investment trust last week offered to exchange the unsecured sukuk securities due in 2022 for new secured notes maturing in 2024 Source link
May 26, 2021 in Business News -
Narratives are simple, the truth is more complex
We often talk about the importance of looking beyond prevailing narratives to find value. Narratives are easy to buy into, partly because as humans we enjoy a good story, and partly because they are simple and easy to understand. They help us make sense of the world, and they also make it easy to buy
May 26, 2021 in Investments -
An urban masterplan of the future
From a city’s built-up area for expansion interspersed with green spaces to regeneration efforts and mobility planning, every aspect must be analysed to create futuristic, sustainable urban master plans Source link
May 25, 2021 in Business News -
Lightstone unpacks semigration trends across Western Cape, KZN, Gauteng
Nearly 15% of homeowners who sold and bought homes in the three years leading up to 2020 have moved from cities to smaller towns. This is according to recent data shared by Lightstone Property which highlights that most of these purchases from the Western Cape and KwaZulu-Natal show the appeal of opting for a quieter
May 25, 2021 in Property & Real Estate -
Protesters clash with police over rising unemployment in Oman city
Police fire tear gas at young Omanis outside the Labour Ministry and governor’s office in Sohar Source link
May 25, 2021 in Business News -
Saudi Arabia emerges as hot spot for start-up accelerator programmes
The country has also seen more senior corporate leaders making the switch to entrepreneurship during the pandemic Source link
May 24, 2021 in Business News -
How the world is warming to sustainable investing
The European Union (EU) is considered by many to be the leader in sustainability regulation. This is true in the sense that it was the first to set the foundations for a sustainable finance framework and has a head start in developing the corresponding regulation. Other markets, particularly Asia, are close at its heels, and
May 24, 2021 in Investments -
South African rand extends gains as rating agencies maintain outlook
The South African rand extended gains on Monday, passing the 18-month best reached on Friday as the currency drew strength from rating agencies holding the country’s credit rating and outlook at current levels. South African bank notes featuring an image of former South African President Nelson Mandela are displayed at an office in Johannesburg, file.Reuters/Siphiwe
May 24, 2021 in Investments -
Why women have a 'big role' to play in developing Saudi Arabia's tourism industry
Dr Afnan Alshuaiby, founder and CEO of FNN International and chairperson of the Arab International Women’s Forum was addressing a panel session at the recent Arabian Travel Market Source link
May 23, 2021 in Business News -
Indian investment influx in the UAE
Dubai is a second home to a multitude of Indians from various walks of life; many own property here for investment, leisure or to live in, Over the last few years, there has been a steady rise in the number of Indian residents opting to buy a home in Dubai Source link
May 23, 2021 in Business News -
Qatar Airways boss named new chairman of Oneworld airline alliance
Akbar Al Baker takes on key role at a pivotal time for the aviation industry as it slowly emerges from the impact of the coronavirus pandemic Source link
May 22, 2021 in Business News -
Saudi Arabia hires former WTTC chief to help drive tourism ambitions
Saudi Ministry of Tourism announces appointment of World Travel and Tourism Council CEO and president Gloria Guevara Manzo as chief special advisor Source link
May 21, 2021 in Business News -
UAE's largest fuel retailer hires former Tabreed boss as new CEO
ADNOC Distribution has announced the appointment of Bader Saeed Al Lamki as CEO from May 27 Source link
May 21, 2021 in Business News -
How with TLC Wendy Nwankwo found success in The Living Collective
Property entrepreneur Wendy Nwankwo, founder of The Living Collective “It’s important to be patient with yourself and growth as an entrepreneur. Success doesn’t come overnight. I feel it’s also important for businesswomen to pave the way for others to participate in industries or spaces that are male-dominated. Know that you will fail but don’t be
May 21, 2021 in Property & Real Estate -
Stable interest rate great news for best buyer’s market in decades
The decision by the Reserve Bank to retain the repo rate at 3.5% (home loan base rate at 7%) is great news and underscores the best buyer’s market in decades. While to date, much of the updraft in the property market has been interest-rate induced, driven by first-time buyers, overall volumes, which is about 20,000
May 21, 2021 in Property & Real Estate -
Oman power giant Mazoon inks $235m Islamic financing deal
Mazoon Electricity Company says funds will be used to finance its capital expenditure plans for 2021 Source link
May 20, 2021 in Business News -
Interest rate hike held off for another quarter
After announcing at their previous meeting that the interest rate may increase by 25 basis points in the second quarter, the Monetary Policy Committee (MPC) cut the country a break today when it announced that interest rates will remain stable, keeping the repo rate at 3.5% and the prime lending rate at 7%. This means
May 20, 2021 in Property & Real Estate -
Investec Property Fund says repurposing office space now vital
Investec Property Fund’s (IPF) strategy of repurposing office assets and “amenitising” office space has become even more relevant after the Covid-19 pandemic hit demand, the South African fund’s joint-CEO Darryl Mayers said on Wednesday, 19 May. Structural shifts were already emerging prior to the pandemic with the increased prevalence of flexible working and shared office
May 20, 2021 in Property & Real Estate -
Investec Property Fund says repurposing office space now vital
Investec Property Fund’s (IPF) strategy of repurposing office assets and “amenitising” office space has become even more relevant after the Covid-19 pandemic hit demand, the South African fund’s joint-CEO Darryl Mayers said on Wednesday, 19 May. Structural shifts were already emerging prior to the pandemic with the increased prevalence of flexible working and shared office
May 20, 2021 in Property & Real Estate -
When life gives you lemons, make gold
Life can be challenging and sometimes downright unfair. It is how we respond to these challenges and unfairness that determines our destiny. No one else lives inside your head except for you, and the daily decisions you make in response to everything you see, hear and dream about are what shape your future. My personal
May 20, 2021 in Property & Real Estate -
EU to reopen borders, potentially easing the way for GCC travellers
EU countries agree to reopen their borders to nations and travellers deemed safe in the continent’s most significant move yet to return to normalcy Source link
May 20, 2021 in Business News -
Global semiconductor shortage to continue until 2022
According to Gartner, the worldwide semiconductor shortage will persist through 2021 and is expected to recover to normal levels by the second quarter of 2022. Photo by Harrison Broadbent on Unsplash Kanishka Chauhan, principal research analyst at Gartner, said: “The semiconductor shortage will severely disrupt the supply chain and will constrain the production of many
May 19, 2021 in Manufacturing -
Responsible lenders need to lead the charge towards financial literacy
South Africa has a well-developed formal financial sector, however the country also has a population that ranks high in terms of indebtedness, according to the World Bank. In addition to these high levels of borrowing, South Africans also stand out in terms of poor repayments and many are trapped in a debt spiral. Brett van
May 19, 2021 in Investments -
Why domestic tourism will always be at the forefront for Saudi Arabia
CEO of Saudi Tourism Authority, Fahd Hamidaddin, reveals bold plans for relaunch of Saudi Seasons programme in Q4 this year Source link
May 19, 2021 in Business News -
Investec Property Fund reports earnings fall after hit to rental income
Investec Property Fund Limited (IPF) on Wednesday, 19 May, reported a 33.8% fall in annual distributable earnings per share due primarily to the impact of Covid-19 and related rental concessions granted to tenants. Distributable earnings per share, the primary underlying financial performance measure in the listed property sector, fell to 97.08 cents for the year
May 19, 2021 in Property & Real Estate -
Sapin to host Durban Property Roadshow
The SA Property Investor’s Network (Sapin) will be hosting a property roadshow at the Aha Gateway Hotel in Umhlanga in Durban on Thursday, 20 May. The keynote speakers for the event are Sapin CEO and founder Andrew Walker and portfolio manager at TUHF Sabir Yusuf. “It’s been a while since we’ve been able to travel
May 19, 2021 in Property & Real Estate -
Abu Dhabi owner to fund Man City fans' trip to Champions League final
Sheikh Mansour seeks to remove the most significant financial barrier to fans attending the final, says club Source link
May 18, 2021 in Business News -
Opportunity remains for aspirant home buyers as outlook keeps repo rate below 4%
Commenting ahead of the third repo rate announcement for 2021 later this week, Carl Coetzee, CEO of BetterBond, says it is unlikely that the repo rate will climb above 4% for a while yet. “Rates will eventually start to increase, but the prime lending rate is not going to hit double digits in the near
May 18, 2021 in Property & Real Estate -
African industrialisation and intracontinental trade can lead to an employment boom
Africa has the opportunity to follow in the footsteps of Asia’s manufacturing giants over the next decade, using industrialisation as a strategy to uplift millions of people from poverty and create jobs for its burgeoning young population. In doing so, it could reinvent itself as the world’s next production powerhouse. That’s according to Vinny Perumal,
May 18, 2021 in Manufacturing -
Raising capital in Africa and crossing the bridge to the US
Pardon Makumbe, co-founder and managing partner of CRE Venture Capital When you look at raising capital in Africa, what can we see in the current landscape? Our continent is a big place made up of regional ecosystems, each with its own unique personality and dynamism. The regions we know the best are South of the
May 18, 2021 in Venture Capital -
How Covid has rocked retirement savings
Accessing retirement saving early to cover the shortfall and stopping retirement savings altogether are two of the alarming trend emerging in a Transunion survey. In addition the World Bank’s 2019 report, South Africa’s savings rate is 15% of its GDP—10% below the world average. While the 2020 Ipsos/News24 poll amongst 52,287 readers, more than four
May 18, 2021 in Investments -
Akani unveils new corporate brand as it positions for growth opportunities
Akani Retirement Fund Administrators (Akani), the country’s largest Black-owned and managed retirement fund administrator with R26bn total of clients’ assets under management, has unveiled a new corporate brand to position itself for growth and in response to dynamic changes in the South African retirement fund industry. Zamani Letjane, the managing director of Akani, said: “Our
May 17, 2021 in Investments -
A rigid approach could be a death knell in the current property market
After a year of global volatility, the property market remains one of the most mercurial sectors. It’s only the most agile industry players who have weathered the pandemic storm. And, with no end to the uncertainty in sight, a responsive attitude from both landlords and developers will be required for some months yet. Gary Palmer,
May 17, 2021 in Property & Real Estate -
The systematic decline of active funds
Active funds have been subjected to continuous waves of attack from passive alternatives, and the gist of the argument is that they are in some way inferior to their passive peers. The reasoning is mixed, but the argument’s primary drivers are historic underperformance over the past five years, lower fees and fund costs, and high
May 17, 2021 in Investments -
Register now: CEO Connect discussion on Competitive Collaboration in Africa
SVAI (Shared Value Africa Initiative) is excited to invite all CEOs and executives to the 2021 CEO Connect Roundtable on 4 June! Themed ‘Competitive Collaboration in Africa – One Africa, One Voice’, this high-level leadership engagement platform aims to bring business leaders together for vital discussions reflecting the current regional, continental and global context and
May 17, 2021 in Investments -
Foreign investment into UAE increases over 44% despite coronavirus crisis
His Highness Sheikh Mohammed bin Rashid Al Maktoum, Vice-President and Prime Minister of the UAE and Ruler of Dubai, said: “Good crisis management is a guaranteed investment.” Source link
May 16, 2021 in Business News -
Unit of Abu Dhabi's IHC buys stake in transport media firm Firefly
Deal will expand Firefly’s operations into the Middle East for the first time through a joint-venture office in the UAE capital Source link
May 15, 2021 in Business News -
UAE pharma major says Q1 net loss narrows on strong sales
Gulf Pharmaceutical Industries reports a 60% jump in net sales during Q1, boosted by a recent re-entry into key markets Source link
May 15, 2021 in Business News -
SADC focused on establishing Europlaw Group Fund
Europlaw Group, operating predominately from the Republic of South Africa and the United Kingdom, decided to establish the SADC-focused Europlaw Group Fund. From its base in South Africa, the fund will focus its attention on both the SADC and the African continent. The founding members for the Europlaw Group Fund are the Europlaw Group of
May 14, 2021 in Investments -
Abu Dhabi creates new council to oversee development of free zones
Free Zones Council will adopt key non-financial performance indicators for free zones, re legislation Source link
May 14, 2021 in Business News -
Redefine Properties defers dividend decision
Redefine Properties shareholders will have to wait a little longer for a dividend after the company said on Friday, 14 May, that it has deferred a decision on an interim payout until the release of annual results in November. The owner of retail, office and industrial properties cited the effects of the Covid-19 pandemic and
May 14, 2021 in Property & Real Estate -
What’s really behind Musk’s Bitcoin U-turn?
Elon Musk’s sudden U-turn regarding Bitcoin on Twitter – which sent prices plummeting by 15% – could be more of a PR stunt than anything else. Elon Musk. Photo: Duncan.Hull – own work/Wikipedia The Tesla billionaire boss said the company will halt sales of cars using Bitcoin due to the environmental impact of mining that
May 14, 2021 in Investments -
The pitfalls of the proposed pension fund amendments
Proposed changes to the Pensions Funds Amendment Bill, currently before Parliament’s Standing Committee on Finance, will allow retirement fund members to access a portion of their retirement savings in cash before retirement as a guarantee for a loan. But the long-term losses outweigh the short-term gains The Democratic Alliance (DA) has proposed that the law
May 14, 2021 in Investments -
UAE-India remittances flow slumps by 17% as Covid fuels 2020 job losses
World Bank says India saw remittances fell by just 0.2% in 2020 overall, as resilient flows from the US and other host countries offset decline Source link
May 13, 2021 in Business News -
South Africa investors cheer Ramaphosa rival’s suspension
Investors are celebrating the suspension of one of the main party rivals of South African President Cyril Ramaphosa as a sign that he is finally tightening his grip on the governing African National Congress (ANC). President Cyril Ramaphosa delivers his State of the Nation address in parliament in Cape Town, South Africa, February 11, 2021.
May 13, 2021 in Investments -
Why Rosebank is Jozi’s best property investment
Rosebank encompasses the excitement of fast-paced city life and the calm beauty of leafy suburbia, placing it in high demand for both business and residential investment players. All major property developers have ensured a foothold in what is fast becoming Johannesburg’s next and most sought-after urban living node. Rosebank, Johannesburg. Image source: Facebook Rosebank is
May 12, 2021 in Property & Real Estate -
Govt could curb imports in favour of more 100% local goods
Small Business Development Minister Khumbudzo Ntshavheni says the department is in talks with the Department of Trade, Industry and Competition to designate more products under the 100% local content category to support SMMEs in the local manufacturing sector. Getty The Minister said this when Ministers in the economics sector replied to oral questions in the
May 12, 2021 in Manufacturing -
SA’s manufacturing output up 4,6% in March
South Africa’s manufacturing production increased by 4,6% in March 2021 compared with March 2020, according to data from Statistics South Africa (Stats SA). A worker inspects cars at Nissan’s manufacturing plant in Rosslyn, outside Pretoria, file. Reuters/Siphiwe Sibeko The largest positive contributions were made by the following divisions:• food and beverages (10,4% and contributing 3,0
May 11, 2021 in Manufacturing -
South Africa’s rand retreats from 16-month high against dollar
The rand weakened in early trade on Tuesday, breaking back above 14.000 against the US dollar, in cautious trade ahead of local manufacturing data and US inflation figures. A street money changer counts South African rands in Harare, Zimbabwe, file. Reuters/Philimon Bulawayo At 0631 GMT, the rand traded at 14.0600 against the dollar, 0.31% weaker
May 11, 2021 in Investments -
Are businesses ready to attract tomorrow’s investors?
Like the mining companies they service, mine suppliers and technology providers should be looking beyond the customer demands of today to remain relevant to the investors of tomorrow. Joe Keenan, MD, BME The world has become rapidly alive to the threats posed by climate change, and mining companies are seeing their shareholders demanding more than
May 11, 2021 in Investments -
Zachariah George talks early-stage funding in SA
Could you take us through the funding stages of starting a business? (levels of seed funding, early stage funding, etc.) Typical stages of funding in the VC industry: Pre-Seed – typically at MVP but pre-revenue Seed Stage – some proof of concepts (“PoCs”) and/or pilots in place, could be pre-revenue still or barely post revenue
May 11, 2021 in Venture Capital -
Emaar Malls reveals 169% quarter-on-quarter increase in profits
Shopping malls and retail business giant reported profits of $87m for first three months of the year Source link
May 10, 2021 in Business News -
Will virtual reality play a part in the future of design?
Husain Roomi, co-founder of H2R Design, shares his thoughts on whether this revolutionary technology is the design world’s next big thing Source link
May 9, 2021 in Business News -
Top Dubai businessman questions UK's decision to keep the UAE on travel 'red list'
Khalaf Ahmad Al Habtoor, founder of the Al Habtoor Group, says he is ‘shocked and surprised’ by Britain’s decision Source link
May 8, 2021 in Business News -
UK delivers tourism blow as the UAE remains on 'red list'
Experts say the latest ruling will ‘substantially’ dampen travel between Britain and the UAE Source link
May 8, 2021 in Business News -
Abu Dhabi's IHC says to list three subsidiaries on local bourse in Q2
Three subsidiaries of International Holding Company will be listed on Abu Dhabi Securities Exchange’s second market Source link
May 7, 2021 in Business News -
Qatar orders arrest of finance minister Ali Sharif Al-Emadi
Qatar’s prosecutor to question minister over alleged abuse of power and misuse of public funds Source link
May 6, 2021 in Business News -
eThekwini Furniture Cluster Business Accelerator
The eThekwini Furniture Cluster (EFC) Business Accelerator is open for applications from small businesses in KwaZulu-Natal that currently supplies, or could supply, goods or services to the furniture sector. Successful applicants that excel during the pitching process will be in the running to gain a lucrative business contract with South African furniture retailers, @home, CLM
May 6, 2021 in Manufacturing -
Understanding how consumers make decisions
There are important practical implications in understanding the decision rules that consumers are most likely to use within a given product category Source link
May 6, 2021 in Business News -
Why WHO approval of Sinopharm vaccine will boost European coffers from Middle East travel
Vaccine, which has been widely used across the region, is expected to be passed by the WHO by the end of the week Source link
May 5, 2021 in Business News -
Investing in Nigeria: Discipline is key
The end of quarter one 2021 marks one year since markets bottomed following the Covid-19 global outbreak. Most major equity indices had fallen between 20% and 30% in US dollar terms, and the African markets were not spared the wrath. The mood was so dire back then that it required a strong degree of discipline
May 5, 2021 in Investments -
Kombo King turns up the heat
The Vumela Fund, established by FNB Business and Edge Growth, has announced a new investment in Kombo King (Pty) Ltd, a proudly South African kitchen equipment supplier focusing on the fried food niche market. Co-founder and Chairman KK Combi says: “On a trip to Beijing, I realised the importance of speed to service customers on
May 5, 2021 in Investments -
MTN Nigeria issues 100 billion naira bond
ABUJA, Nigeria – MTN Nigeria has issued a 100 billion naira fixed rate bond in the first quarter of 2021, due in seven years, under a 200 billion naira bond programme to refinance existing debt and support network expansion. Image: Reuters/Afolabi Sotunde Yields in Nigeria are at historic lows after the central bank cut rates
May 5, 2021 in Investments -
Russia, Iran in focus as Flydubai plans new routes
Low-cost carrier announces launch of additional flights as global network grows to more than 80 cities Source link
May 5, 2021 in Business News -
Racing into the future with Richard Mille
A driving force behind the world’s most cutting-edge watch brand, Peter Harrison, CEO of Richard Mille EMEA, leads a company renowned for pushing horological boundaries to their technical extremes. With a new partnership with Team UAE Emirates, Harrison tells CEO Middle East about luxury leadership, brand vision and limitless ambition Source link
May 4, 2021 in Business News -
Italtile CEO Jan Potgieter to retire, Lance Foxcroft named successor
JSE-listed tile and bathroomware manufacturing and retail group Italtile has announced that its chief executive officer, Jan Potgieter, will be retiring on 31 December 2021 and emigrating to Europe. He will however remain on the Italtile board as a non-executive director. Jan Potgieter Lance Foxcroft, currently CEO of Ceramic Industries, a subsidiary of Italtile Ltd,
May 4, 2021 in Manufacturing -
Better growth prospects and policy support bode well for markets
It’s been a year since the pandemic and the events that followed took the world into unchartered territory, calling on humankind’s innate ability to adapt to survive. The loss of life has been painful, and the loss of livelihoods has been devastating. The events that followed have also been remarkable. Reza Hendrickse, portfolio manager, PPS
May 4, 2021 in Investments -
Absa PMI expands at slower pace in April
South Africa’s seasonally-adjusted Absa Purchasing Managers’ Index (PMI) expanded at a slower pace in April as growth in business activity and new sales orders slowed, a survey showed on Monday. The index, a gauge of manufacturing activity in Africa’s most industrialised economy, fell to 56.2 points in April from 57.4 points in March, remaining above
May 4, 2021 in Manufacturing -
Mansour bin Madi appointed as CEO of Saudi Arabia's Real Estate Development Fund
The new CEO said the kingdom’s real estate finance sector has been in a progressive phase since the announcement of Vision 2030 Source link
May 3, 2021 in Business News -
How manufacturers can unleash their digital marketplace superpower
Digital marketplaces such as Amazon, Alibaba, click and collect models, and food delivery ecosystems have rapidly changed consumer behaviour, and increased the demand for convenience and immediate gratification. ©Diana Kadreva via 123RF They have become an epicentre of brand exposure and experience, capturing greater consumer attention, as is evident in our recent Accenture Interactive survey
May 3, 2021 in Manufacturing -
Why companies need to increase ESG alignment to resist future shocks
Why companies need to increase ESG alignment to resist future shocks Source link
May 3, 2021 in Business News -
Oman's first quarter deficit rises to 751.4 million rials
Public revenue was 1.82 billion rials at the end of March, down 30.5 percent compared with a year ago Source link
May 2, 2021 in Business News -
The changing nature of wealth management
Vipul Kapur, head of Private Banking at Mashreq Bank, examines how the pandemic has affected the industry and adjusted client expectations Source link
May 1, 2021 in Business News -
India exports more food to Gulf while facing coronavirus lockdowns at home
Indian exporters to the Gulf region, however, are concerned over future orders from the region if the existing ban on flights to countries like the UAE are further extended Source link
May 1, 2021 in Business News -
Seychelles pays $1 to acquire Etihad's stake in its flag carrier
Etihad accepted a 79% haircut on $72.3m of debt owed by Air Seychelles, according to official Source link
April 30, 2021 in Business News -
Multi-million rand investment to advance manufacturing education and research
The Toyota Wessels Institute for Manufacturing Studies (TWIMS) has received an R18m boost courtesy of Illovo Africa, Metair, TFG and vehicle manufacturer, Toyota SA Motors (TSAM). TWIMS, which as an academic partnership with the Gordon Institute of Business Science (GIBS), is South Africa’s only manufacturing-focused business school and research institution. The multi-year investment will fund
April 30, 2021 in Manufacturing -
Growthpoint Investec African Properties undergoes rebrand
Growthpoint Investec African Properties Limited (GIAP) has been rebranded to Lango Real Estate Limited (Lango). Launched in 2018, Lango’s assets, which it owns and manages, include several prime office and retail properties in Ghana, Nigeria and Zambia, with an aggregate value in excess of $600m. Lango, meaning ‘entry point’ or ‘gateway’ in Swahili, reflects Lango’s
April 30, 2021 in Investments -
Why renewable energy won’t end energy poverty in Zimbabwe
Image source: Gallo/Getty The country has huge and diverse renewable energy potential. Its sustainable energy portfolio could include solar, hydro, biomass and, to a limited extent, wind and geothermal. Zimbabwe put forward a National Renewable Energy Policy in 2019. The policy aims to have 16.5% of the total generation capacity (excluding large hydro) from renewable
April 30, 2021 in Energy -
Kuwait's Agility agrees $4.1bn deal to sell freight forwarding business
Agility chief says DSV Panalpina deal is one of the largest private M&A deals made in the GCC to date Source link
April 30, 2021 in Business News -
Doubling down on plastic bag producers
In the past, retailers provided plastic carrier bags to consumers for free and incorporated the cost into the price of goods. But studies conducted by the former Department of Environmental Affairs and Tourism in 2002 shed light on a serious plastic waste problem, noting that, unlike other waste types, plastic had no organisation dedicated to
April 29, 2021 in Manufacturing -
Exxaro’s move to renewable a sign of progress
Exxaro Resources chief executive, Mxolisi Mgojo, announced in February that his company will join a growing list of international miners divesting from thermal coal assets, reinforcing the global pressure for mining houses to reduce exposure to fossil fuels is gaining momentum. Jon Duncan, head, responsible investment, Old Mutual He said that Exxaro, which exports coal
April 29, 2021 in Investments -
SA’s first Reit sustainability-linked ESG bond launched
The Investec Property Fund (IPF) recently issued a three-year, sustainability-linked bond of R800m – a first for the local real estate investment trust (Reit) sector. In line with the bond’s green credentials, the fund will benefit from a reduction in the coupon of 10 basis points from its initial 190 basis points above the three-month
April 29, 2021 in Property & Real Estate -
Why businesses must do more to tackle poor leadership
Andy Fieldhouse, author of Getting Teamwork Right, and Sara Boueri, HR, Ras Al Khaimah Tourism Development Authority, discuss issue and how to address problem Source link
April 29, 2021 in Business News -
Property investment – here are some possible tax implications to note
According to Pearl Scheltema, CEO of Fitzanne Estates, while taxes and property go hand in hand, there are fortunately some very real benefits to be had if you understand the property tax system and how best to manage your investment. “Having a clear understanding of the costs and benefits involved in buying a property is
April 29, 2021 in Property & Real Estate -
Saudi Arabia in talks to sell Aramco stake to global energy firm
The crown prince is increasingly leaning on Aramco, the world’s biggest oil company, to help finance his plan to transform and diversify the Saudi economy Source link
April 28, 2021 in Business News -
DTIC and Proudly South African launch local online furniture portal
The platform, according to Proudly South African, is in response to the growing demand for locally-manufactured furniture items and to make the sourcing of genuine local producers easier. The site is currently being populated with qualifying local furniture companies and will be a listing where retailers, architects, property developers and consumers can find what they
April 28, 2021 in Manufacturing -
A Living Wage highlights plight of garment workers
The project has been brought to life by Andrew Morgan, director of acclaimed documentary True Cost, and Eco-Age founder Livia Firth. The fourth and latest addition to the Fashionscapes investigative short documentary series available on Eco-Age TV, sees Morgan and Firth follow the story of the activists and change-makers calling time on the poverty wages
April 28, 2021 in Manufacturing -
African sovereign wealth funds double down on governance to power growth and prosperity
A new study covering 11 African countries shows that most have a sovereign wealth fund or are in the process of establishing one, and are seeking to attract private capital from international investors to meet the continent’s unique set of challenges: a shortage of domestic and international investment, a widespread lack of trust in institutions,
April 28, 2021 in Investments -
Residential property remains a sound option for investment
The Covid-19 pandemic and lockdown has prompted many people to reassess their priorities and make changes and life choices that reflect a more balanced and, in some cases, even a more cost-effective lifestyle. This shift is particularly evident in the residential property market, with numerous transactions since the hard lockdown mirroring this trend. Dr Andrew
April 28, 2021 in Property & Real Estate -
Strong and stable: First South African invests in the IWG franchise model
Collaboration with a market-leading company, the promise of a stable market investment and strong chance of ROI and cash flow are just some of the reasons why franchise partners all over the world are shaking hands on deals with IWG. South African investors are taking notice and the first franchise deal has been signed in
April 28, 2021 in Property & Real Estate -
Dubai's Drake & Scull announces $102m contract wins amid continuing company restructure
Contractor also revealed it is bidding for several projects, worth $476.5m in Iraq and Kuwait Source link
April 28, 2021 in Business News -
Hotel occupancy in the Middle East for March down 26% on pre-coronavirus levels
UAE ranked second in absolute occupancy, according to the research from STR, sitting 23.9% below the 2019 benchmark Source link
April 27, 2021 in Business News -
How the UAE aims to protect its food sector from the threat of global warming
Emirates Food Security Council approves the creation of The Climate Change Impact System Source link
April 26, 2021 in Business News -
L’Oréal Paris to cut 50% of carbon footprint by 2030
Beauty brand L’Oréal Paris has committed to reducing its carbon footprint by 50% per finished product, and will contribute €10m to environmental projects whose beneficiaries are communities of women around the world. Credit: L’Oréal Group These announcements form part of the brand’s ‘L’Oréal For the Future, Because our Planet is Worth it’ sustainability programme revealed
April 26, 2021 in Manufacturing -
Qatar petroleum plans $10 billion bond sale for gas expansion
The state producer is inviting banks to arrange what would be its first dollar bonds and is seeking between $7 billion and $10 billion of five, 10- and 30-year notes Source link
April 26, 2021 in Business News -
Reits devise new strategies to combat challenging real estate market
Real estate investment trusts, commonly known as Reits, are facing increasing pressure amid the continued Covid-19 pandemic. Simply put, Reits are companies that own, operate or finance income-producing properties. Since their inception in the US in 1960, Reits have taken off globally and all listed Reits are required to conform to international standards to ensure
April 26, 2021 in Property & Real Estate -
Saudi state miner Maaden said to name third CEO in 13 months
Abdulaziz Al Harbi, a senior vice president at Saudi Arabian Mining Co., will replace Mosaed Al Ohali as acting CEO until further notice Source link
April 25, 2021 in Business News -
Airlines looking at 'worst possible scenario' from extended UK-UAE flight ban
Aviation expert warns any plan to keep the UAE on the UK’s red list for air travel is ‘not a reasonable approach’ Source link
April 25, 2021 in Business News -
Saudi Arabia could see Virgin Hyperloop commercial pilot by 2024, says CEO
Josh Giegel says Saudi Arabia is a ‘big market’ for futuristic transport ambitions Source link
April 24, 2021 in Business News -
Saudi Arabia tempts Hollywood producers with historic beauty of AlUla
Royal Commission for AlUla creates Film AlUla department to support and facilitate filming in the tourist destination Source link
April 23, 2021 in Business News -
Kutay Saritosun on greening the global textile value chain
Kutay Saritosun is a textile engineer and sustainability aficionado dedicated to educating companies on producing more environmentally responsible products and contributing positively towards a more sustainable textile value chain. Kutay Saritosun As the director of fashion brands at Bluesign Technologies, he works closely with designers, manufacturers and brands across the globe, equipping them with the
April 23, 2021 in Manufacturing -
UAE suspends flights from India as cases hit record levels
The National Emergency Crisis and Disaster Management Authority and the General Authority of Civil Aviation announced the suspension of all flights Source link
April 23, 2021 in Business News -
Oman to ban arrivals from India, Pakistan and Bangladesh as part of latest Covid-19 measures
Children under 12 will also be prohibited from entering commercial complexes and other trade outlets Source link
April 22, 2021 in Business News -
Middle East air travel demand in 2021 forecast to be 67% below pre-Covid levels
International Air Transport Association says the region is likely to see the slowest demand rebound of any in the world this year Source link
April 21, 2021 in Business News -
Zimbabwe approves MoU for nuclear energy cooperation with Russia
Zimbabwe has approved a memorandum of understanding (MoU) with Russia’s State Atomic Energy Corporation (Rosatom) aimed at building nuclear energy capacity in the African country to mitigate its energy crisis. Lake Kariba An alternate source of energy will reduce Zimbabwe’s dependence on Lake Kariba and hydropower. The country only produced 650MW against a national demand
April 21, 2021 in Energy -
Nairobi ranked top city in Africa for innovation
The report notes that the ability of African cities to emerge resilient from the pandemic will depend on their ability to innovate, providing long-term social solutions to their residents, attracting funding and generating new demand for space. The research interrogated over 100 data points applied to 29 capital cities from a long list of over
April 21, 2021 in Property & Real Estate -
key focus areas for 2021
Emerging from the economic challenges of 2020, Craig Mott, Cape Town regional sales manager for the Rawson Property Group, says now is the time for commercial property landlords to regroup, reassess the situation and, importantly, keep a very attentive hand on the tiller of investments. “The pandemic has been a big wake-up call to the
April 21, 2021 in Property & Real Estate -
Israel eyes AgriTech opportunities in the UAE, says head of mission
Eitan Na’eh, the head of mission at the Israeli embassy in Abu Dhabi, said that Israel expects a large influx of Emirati visitors in the coming months Source link
April 21, 2021 in Business News -
#BehindTheBrandManager: Sibongile Sibanda of Liberty
Sibongile Sibanda, Liberty’s group executive for brand and integrated marketing, believes that the financial services environment is an exciting space for communicators because it exists in highly emotive territory. She chats more about how trust in a well-established brand can be enhanced by technology, and that 2020 was a year of great learning. Sibongile Sibanda,
April 21, 2021 in Investments -
UAE pharma major eyes return to profitability in 2021 after sales rebound
Julphar sees near-doubling in sales during 2020 as the company rebounded from a temporary suspension in some GCC markets Source link
April 20, 2021 in Business News -
Recovery perceived in industrial, retail markets
In this report, we discuss the first quarter 2021 results of the rental market component of our FNB Commercial Property Broker Survey which surveys a sample of commercial property brokers in and around the six major metros of South Africa, namely, City of Joburg and Ekurhuleni (Greater Johannesburg), Tshwane, Ethekwini, City of Cape Town and
April 20, 2021 in Property & Real Estate -
Capital funding and the fund raising basics
Startup and entrepreneurs across the world are back at their drawing boards as they navigate towards a post-Covid world. There are still many who are curious as to what is needed to start a business and how to go about it. In the coming weeks, successful entrepreneurs and experts will unpack some basics of funding,
April 20, 2021 in Venture Capital -
Greenpeace and Western anti-Africa energy groups take the wrong approach
If someone were to put me on the spot and ask me to name an environmentalist group, I’d probably blurt out the first thing that comes to mind, Greenpeace. There are obvious reasons for this: Greenpeace has been around for more than 50 years, and it has done a masterful job of bringing environmental concerns
April 19, 2021 in Energy -
Will gold stand up as a safe investment bet in the future?
Gold hit a low of $1,469 in mid-March last year before appreciating to a value of around $2,000 an ounce in August. This was the result of two catalysts. Photo supplied Firstly, it was a reactionary move, because the rest of the market was being bought out. We saw stocks – specifically Fang (Facebook, Apple,
April 19, 2021 in Investments -
Solar and wind power could break the Grand Ethiopian Renaissance Dam deadlock
Ethiopian protestors march down 42nd Street in New York during a “It’s my Dam” protest on March 11, 2021. Photo by TIMOTHY A. CLARY/AFP via Getty Images Ethiopia needs Gerds’s electricity to lift millions of citizens out of poverty. But Egypt is concerned by Gerd’s consequences for its agriculture, which depends completely on Nile water.
April 19, 2021 in Energy -
Making marketing meaningful during Ramadan
Making marketing meaningful during Ramadan Source link
April 18, 2021 in Business News -
Saudi unemployment rate falls as more women enter workforce
Official figures show that unemployment declined to 12.6% in Q4 2020, down from 14.9% in the previous quarter Source link
April 18, 2021 in Business News -
Gulf bidder likely to buy Meghan Markle dressmaker Ralph & Russo
A number of Arab bidders are said to be circling the purchase of Ralph & Russo, the luxury British dressmaker Source link
April 17, 2021 in Business News -
Tristar confirms withdrawal from planned IPO in Dubai
Logistics firm Tristar Transport says board and shareholders believe greater returns can be realised without IPO Source link
April 16, 2021 in Business News -
Dubai's rent freeze draft law will add stability to market, say experts
New law has the potential to provide landlords with more clarity on future income and, in turn, support investor confidence Source link
April 16, 2021 in Business News -
The business case for SOC-as-a-Service
A pay-as-you-go, subscription-based model for managed threat detection and response can improve your organisation’s security posture, reduce cyber risk and costs, and enhance business agility, says Sherif Shaltout, Vice President Operations, Cysiv Middle East & Africa Source link
April 15, 2021 in Business News -
Dr Andrew Golding of the Pam Golding Property group
Established in 1976 by the late property and real estate icon Pam Golding, the Pam Golding Property group has since achieved world-class status, covering the full spectrum of the real estate market in Sub-Saharan Africa and internationally. According to its current brand custodian, Dr Andrew Golding, who also serves as its chief executive, the core
April 15, 2021 in Property & Real Estate -
SA-made Kombo King set for retail rollout following Vumela investment
Entrepreneurs Zitulele KK Combi and Ari Jacobson have launched their patented deep-fryer technology Kombo King to South African retailers, after securing investment from the Vumela Fund, established by FNB and Edge Growth. Already introduced at Pick n Pay, King Pie and Engen’s new convenience concept store, the hygienic, ventless fryer product is now set for
April 15, 2021 in Manufacturing -
Concrete, cement additive suppliers facing severe pressure as demand soars
According to Norman Seymore, CEO of the Chryso Southern Africa Group and vice-president of Chryso internationally, local concrete and cement additive suppliers are under severe production pressures due to the global shortage of many primary chemical industry raw materials essential to produce concrete and cement admixtures. This as demand soars in the revived post-Covid-19 environment
April 15, 2021 in Manufacturing -
Dubai developer bullish over emirate's hospitality industry
SOL Properties is set to launch two new hotels in Dubai in the next 12 months Source link
April 15, 2021 in Business News -
UAE coffee brand expands into Saudi Arabia, first branch opens July 2021
Emirati coffee reported a 3,135 percent spike in online sales during the pandemic last year Source link
April 14, 2021 in Business News -
6 myths about real estate auctions debunked
According to lead auctioneer and director of High Street Auctions Joff van Reenen, even seasoned investors sometimes still believe old myths about auctions. “The fact is that auctions are the most transparent way of buying or selling anything, including real estate, and the only way of ascertaining true market value, but people often find auctions
April 14, 2021 in Property & Real Estate -
UAE investment firm GII buys real estate project in upmarket London
Gulf Islamic Investments announces it has acquired a residential development situated in London’s sought-after West End Source link
April 13, 2021 in Business News -
Unprecedented activity in housing market following lockdown
Since South Africa emerged from hard lockdown in June 2020, the local property market has been seeing unprecedented levels of activity driven by pent-up demand, record-low interest rates, and a change in lifestyle requirements. According to Lightstone Property data, a total of 54,955 bond registrations were recorded at the Deeds Office over the period of
April 13, 2021 in Property & Real Estate -
Investing in property and creating wealth using community stokvels
There is an old proverb that says, “Smooth seas do not make skilful sailors”. It is through the storms of life that one can either decide to work hard and stick the course or lose hope and throw in the towel. Rough seas teach us that we can endure, develop grit and achieve when we
April 13, 2021 in Property & Real Estate -
Holy month of Ramadan to start in the UAE on Tuesday
Moon-sighting committee makes announcement after its meeting after Maghreb prayers Source link
April 13, 2021 in Business News -
Saudis meet oil requests from most in Asia before ramping up
Led by Saudi Arabia, the OPEC and its allies will restore from May some of the supply that was cut back as the pandemic ravaged demand Source link
April 12, 2021 in Business News -
6 asset management trends to look out for
The asset management landscape continues to evolve with certain key trends – existing and new – driving the adaption of models and strategies. 1. More money moves to ESG strategies One of the most significant changes to impact the asset management industry is environmental, social and governance (ESG) compliance. While it may have provided players
April 12, 2021 in Investments -
Kenyan startup Tanda set for regional expansion after funding boost
Kenyan agency banking startup Tanda is expanding its operations regionally after securing funding from early-stage African tech investor Havaic, Zedcrest Capital, DFS Lab, Victor Asemota and three other investors. Credit: Tanda Tanda has also secured key strategic partnerships with Mastercard and Interswitch which will further accelerate its growth. The company’s expansion comes on the back
April 12, 2021 in Venture Capital -
Property investment 101: practical steps to consider
Last year’s five consecutive repo rate cuts, which dropped the prime lending rate to a record low of 7%, has resulted in an increase in buyer activity in the property market, especially among first-home buyers. “While the going is good at the moment, it is worth remembering that property is a long game and there
April 12, 2021 in Property & Real Estate -
Yes, manufacturing really is leaving China – and authorities are scrambling to slow down the exodus
The economic powerhouse faces an unprecedented set of challenges in a post-coronavirus era Source link
April 11, 2021 in Business News -
Crown Prince hails Dubai's Covid resilience as trade tops AED1trn in 2020
Sheikh Hamdan says emirate has set an ‘example for the world’ for dealing with the economic impact of the coronavirus pandemic Source link
April 11, 2021 in Business News -
UAE reveals plan to send first female Arab astronaut into space
Nora AlMatrooshi is named in second batch of the UAE’s Astronaut Programme as country aims to build on Hope Probe success Source link
April 10, 2021 in Business News -
Scotland lifts ban on direct flights from the UAE
UK Transport Secretary Grant Shapps says Brits can start thinking about booking foreign holidays again this summer Source link
April 9, 2021 in Business News -
One year on: 3 ways in which Covid-19 has impacted the SA venture capital space
It’s been just over a year since South Africa went into lockdown. At the time, there was still hope that the country could isolate and contain the disease, allowing economic activity to continue as normal. Few could’ve forecast the toll the following months would take on our lives and livelihoods. Philani Sangweni Businesses in all
April 9, 2021 in Venture Capital -
4 key lessons for future-ready manufacturing
The persistent nature of Covid-19’s disruption on the manufacturing industry highlights a need, and an opportunity, to rethink business operations to be more adaptable to market dynamics. Modern-day demand planning needs more sensitivity to what customers are going through, encouraging sales and operations planning processes to evolve in response. This explains why more and more
April 9, 2021 in Manufacturing -
The Business Exchange launches unique dollar-based offshore investment opportunity in Mauritius
Serviced office space provider The Business Exchange (TBE), in partnership with Maxcity Properties, the largest and most established real estate company in Mauritius, has launched an exciting new opportunity, offering investors the unique chance to own offshore property in Mauritius, a dollar-based country. At a very accessible price point, 117 sectional title serviced office space
April 9, 2021 in Property & Real Estate -
Saudi Arabia reveals new push to become global renewables hub
World’s biggest oil exporter announces new agreements as it seeks to commit to a renewable energy future Source link
April 9, 2021 in Business News -
Saudi's historic AlUla seeks investors for 15-year transformation
‘The Journey Through Time Masterplan’ was unveiled by Crown Prince Mohammed bin Salman, chairman of the Royal Commission for AlUla, on Thursday Source link
April 8, 2021 in Business News -
Co-CEOs Luyt and Harris to manage JLL Sub-Saharan African business
Emma Luyt and Peter Harris have been appointed co-CEOs of JLL’s Sub-Saharan African (SSA) business, managing the real estate investment and advisory firm’s growth in the region. They will report to JLL MEA CEO Thierry Delvaux as he continues to oversee the region. Peter Harris and Emma Luyt, co-CEOs, JLL Sub-Saharan Africa Luyt has been
April 8, 2021 in Property & Real Estate -
Why correct handling, storage, transportation of plastic pipes is vital
While the end-users of pipes produced by members of the Southern African Plastic Pipe Manufacturers Association (SAPPMA) may be confident in their quality as SANS, ISO and SABS have high standards and strict criteria that need to be met, what about the way in which these pipes are stored, handled and transported once they leave
April 8, 2021 in Manufacturing -
High levels of financial pressure-related selling perceived in commercial property sector
We continue with the first quarter 2021 results of our FNB Commercial Property Broker Survey, which surveys a sample of commercial property brokers in the six major metros of South Africa, i.e., City of Joburg and Ekurhuleni (Greater Johannesburg), Tshwane, eThekwini, City of Cape Town and Nelson Mandela Bay. Image source: Gallo/Getty Focusing on the
April 8, 2021 in Property & Real Estate -
The cryptocurrency revolution. What’s the outlook for 2021?
The Bitcoin price has surged up to $60,000. There are a few influencing factors that have contributed to this phenomenal rise in the cryptocurrency’s fortunes. Fred Razak, chief trading strategist, CMTrading The accumulation of three stimulus packages coming out of the United States has had an unintentional negative effect on the long-term value of the
April 8, 2021 in Investments -
World health is at a critical junction
On World Health Day, it’s time to look at how to build a fairer, healthier world as the globe recovers from coronavirus Source link
April 8, 2021 in Business News -
Don’t just tell them. Show them how attractive you are
For products wanting to strut their stuff at retail, glitz, glamour, and striking colours are the key features of captivating labels that attract discerning shoppers and get products moving off the shelf. As discretionary spending diminishes and awareness of the disproportionate effect on different communities and economies grows, the economic fallout calls for brands to
April 7, 2021 in Manufacturing -
UAE's Barakah Nuclear Power Plant launch is 'significant example of international cooperation', says IEF
The 1,400MW Unit 1 is now providing constant, reliable, and sustainable electricity around the clock, with three further units to begin generating in the coming years Source link
April 7, 2021 in Business News -
FNB records 46% uptick in secondary property purchases in Q4 2020
FNB has reported a 46% increase in the total number of buyers who purchased secondary properties in the fourth quarter of 2020 compared to the fourth quarter of 2019. 20.6% of the purchases made for properties priced at less than R500,000 and 24% for properties priced between R500,000 and R1m. FNB Private Bank lending chief
April 7, 2021 in Property & Real Estate -
UAE's $8.2 billion strategy approval is a 'game-changer' for start-ups & SMEs
Emirates Development Bank Strategy provides much-needed support for the country’s small and medium businesses, especially women-led businesses, which have been struggling since the pandemic Source link
April 6, 2021 in Business News -
UAE businesses and start-ups to benefit from $8.2bn strategy approval
Emirates Development Bank Strategy launched to support the recently announced ‘Operation 300bn’ Source link
April 6, 2021 in Business News -
Nasdaq Dubai welcomes listing of $2.5bn sustainability sukuk
Islamic Development Bank’s latest listing takes sukuk total on Nasdaq Dubai to over $17bn Source link
April 5, 2021 in Business News -
THE One takes top spot as UAE's best place to work
DHL, Chalhoub Group, Five Hotels and Hilton make up top five in annual listing Source link
April 4, 2021 in Business News -
UAE's Higher Colleges of Technology: A model of sustainable leadership
Dr Abdullatif Al Shamsi, president and CEO of the Higher Colleges of Technology, is guiding the UAE’s largest applied higher education institution towards its ambitious sustainability goals Source link
April 4, 2021 in Business News -
How Dubai seeks to become major player in global creative industry
Ruler Sheikh Mohammed launches plan to increase the number creative professionals in Dubai from 70,000 to 150,000 over five years Source link
April 3, 2021 in Business News -
Buying digital land has real benefits
Dubai-based Simon Hudson has revealed his tech start-up Cheeze is currently building an art gallery for minted photographs Source link
April 3, 2021 in Business News -
Could the UAE, Bahrain be back on the UK's safe travel list soon?
British PM Boris Johnson is expected to announce traffic light system to re-open foreign travel next week Source link
April 2, 2021 in Business News -
GCC investors continue to eye property in UK
Brexit has not dampened the region’s investors’ appetite for property investments in London following stamp duty tax break Source link
April 1, 2021 in Business News -
Erratic heritage application processes costs billions in lost investment
Both private and public sector investors and built environment professionals are extremely frustrated by the drawn-out and increasingly vague processes being encountered with heritage applications. This is the finding of a dipstick survey conducted by the Western Cape Property Development Forum (WCPDF). While the survey was a response to numerous complaints received by the WCPDF,
April 1, 2021 in Property & Real Estate -
Accor opens internationally-branded hotel in Bridgwater
Accor has opened one of the largest internationally-branded hotels in the Somerset town of Bridgwater; the 144-room ibis Bridgwater. Operated by Cycas Hospitality as part of a management agreement with Zeal Hotels and Sandgate Investors, the new-build property is the first ibis hotel in the UK to showcase the brand’s new Plaza-design throughout. Image Supplied.
April 1, 2021 in Property & Real Estate -
Oman students return to remote learning amid heightened Covid-19 restrictions
All official and private sports activities in all governorates have also been suspended from April 1 Source link
April 1, 2021 in Business News -
Why investors are increasingly choosing to make the UAE home
Positive reforms and regulations are attracting people in numbers to stay for longer Source link
March 31, 2021 in Business News -
Empowering manufacturers to act more like retailers
Greg Gatherer, Liferay Africa Under the current circumstances especially, standing out on price and product is incredibly difficult for manufacturers. The best option, therefore, is to compete on customer experience. That may seem foreign to many manufacturers, who are used to operating on a traditional B2B model, but by operating more like retailers, they can
March 31, 2021 in Manufacturing -
Abu Dhabi's Murban crude oil trading is 'positive' for the market: IEF chief economist
The launch has the potential to help ADNOC cement its position as a key oil producer and support its ambitions to expand crude capacity to 5 million barrels per day by 2030 Source link
March 30, 2021 in Business News -
State, business partnership vital for post-Covid recovery
The state and the private sector have important roles to play in South Africa’s post-Covid recovery, but neither can be relied upon solely to pull the country out of its economic quagmire without the other. A panel at the South African Venture Capital Association (Savca) explored in some depth the ways in which the country
March 30, 2021 in Venture Capital -
LNG production in Mozambique and the political risk of Islamic militancy
The Cabo Delgado province in the northernmost part of the long Mozambican seaboard is now home to Africa’s three largest liquefied natural gas (LNG) projects; these projects have attracted many of the world’s major multinational energy companies, accompanied by massive investments. Rovuma LNG project There can be little doubt that the discovery of rich reserves
March 30, 2021 in Investments -
Azizi Developments delivers Mina on Palm Jumeirah
The developer is well on its way to deliver over 10,000 units this year, with its flagship luxury development on the east crescent of the Palm already its third handover in the first quarter of 2021 Source link
March 30, 2021 in Business News -
Patel calls for partnerships in manufacturing sector
Trade, Industry and Competition Minister Ebrahim Patel says South Africa must rebuild its manufacturing strength to be able to fully benefit from the opportunities in the BRICS markets. Getty “This needs to be done through deeper partnerships and careful use of both demand and supply-side measures,” Patel said. Patel was speaking at the BRICS Business
March 30, 2021 in Manufacturing -
Dubai proposes regulation of security tokens amid fintech boom
Dubai Financial Services Authority (DFSA) puts out proposals for public consultation for a period of 30 days Source link
March 29, 2021 in Business News -
Arabian Business Money Forum speakers announced
Wealth management experts from across the UAE will gather at the W Hotel, Dubai, to share their insights on topics as diverse as stock market conditions to NFTs Source link
March 29, 2021 in Business News -
Saudi banks set to outperform their regional peers in 2021-2022
Roman Rybalkin, CFA, Associate Director at S&P Global Ratings, says strong capitalisation, conservative regulation and government stimulus will support the banking sector in the kingdom Source link
March 28, 2021 in Business News -
Gulf investors poised to snap up Britain's new $687m sovereign sukuk
UK government’s second sukuk offering is more than double the size of the first issuance in 2014 Source link
March 27, 2021 in Business News -
Revealed: the impact of Ramadan 2021 on consumers' e-commerce habits
Expected pick up in home, groceries and fashion categories during the Holy month Source link
March 27, 2021 in Business News -
Plans revealed to build luxury Dubailand outdoor shopping destination
Vincitore Realty has launched The Promenade project which will be located next to Miracle Gardens Source link
March 26, 2021 in Business News -
Mozambican Competition Regulatory Authority now operational
Almost seven years after the promulgation of the competition legislation, the Competition Regulatory Authority (CRA) in Mozambique became operational in January 2021, in a move that has further highlighted the growing focus on competition law and merger control in countries across the region. Municipal Market of MaputoImage source: lucianf from Bucharest, Romania, CC BY 2.0
March 26, 2021 in Investments -
SARB has missed the mark, interest rate stimulus vital for economy
The Reserve Bank has completely missed the mark with their decision to retain the repo rate at 3.5% (home loan base rate at 7%). The country and economy desperately need a stimulus and, while probably expected, it is disappointing that the bank has not taken the opportunity to provide some impetus. Samuel Seeff, chairman of
March 26, 2021 in Property & Real Estate -
Why India is banking on health diplomacy to grow African footprint
Workers at India’s biggest syringe manufacturer ramp up production in September 2020 in race to meet Covid-19 vaccine-driven demand. Photo by SAJJAD HUSSAIN/AFP via Getty Images While it plays catch-up with China’s commanding presence in Africa, India has signed numerous new bilateral agreements. It has also strengthened its diplomatic presence and is actively furthering trade,
March 26, 2021 in Investments -
F&B summit to take place in Dubai after 'most challenging year'
F&B Stakeholders Summit will be held as part of The Hotel Show at the Dubai World Trade Centre Source link
March 25, 2021 in Business News -
Predictable outcome as interest rate holds steady
The Monetary Policy Committee (MPC) has again announced that interest rates will remain stable, keeping the repo rate at 3.5% and the prime lending rate at 7%. This was a predictable outcome and, unless things take an unexcepted turn, interest rates are likely to remain steady for the remainder of the year. Adrian Goslett, regional
March 25, 2021 in Property & Real Estate -
Magda Wierzycka to step down as Sygnia CEO
Outspoken founder of Sygnia, Magda Wierzyka, will be handing over the reins of the multi-billion rand investment house to joint chief executive officer (CEO), David Hufton on 1 June 2021. Magda Wierzycka Wierzycka will remain involved in the company as founder and non-executive director and, together with the executive management team and the board of
March 25, 2021 in Investments -
Exeo Capital buys stake in Wellness Warehouse holding company
Pan-African alternative investment firm, Exeo Capital, has announced an investment into Maia Group through the firm’s food and agribusiness fund, Agri-Vie Fund II. Image credit: Lifestyle on Kloof The Maia Group, established by Simon Alston and Stuart Sinclair, is a holding company focused on consumer health businesses and currently includes Wellness Warehouse and True Health
March 25, 2021 in Investments -
Majority of UAE residents believe in the importance of getting vaccinated
Residents trust Sinopharm the most among vaccines available in the country, according to YouGov survey Source link
March 25, 2021 in Business News -
SA’s post-Covid market risk raises red flags
A study to analyse global markets in the aftermath of Covid-19, shows that South Africa has raised red flags, along with the US, Brazil, Turkey, Russia, and Central and Southern Europe. Whereas Asia, the UK and Northern Europe pose lower risk levels. Tina Fordham, partner, Avonhurst The research, Vax Populi, uses OpenSource data to compile
March 25, 2021 in Investments -
Commercial property shows recovery, not back to pre-lockdown levels
The industrial property market recorded the highest activity rating to the tune of 5.44 on a scale of 1 to 10, the retail property market 4.18, while the beleaguered office property market was the weakest with a lowly 3.39 rating. In all three markets’ cases, the activity ratings in the first quarter represented a further
March 25, 2021 in Property & Real Estate -
Abu Dhabi's Mubadala hiring for new ESG unit
Wealth fund hiring two senior bankers to help evaluate ESG-related risks and opportunities for existing and new investments Source link
March 24, 2021 in Business News -
Top execs give their verdict on the UAE's $81.5bn 'industrial revolution'
Leading bosses hail 10-year strategy which aims to empower the industrial sector to become the driving force of the economy Source link
March 24, 2021 in Business News -
Remitano makes money transfer between South Africa and other countries easier and faster with new ‘cash-out’ feature
Use the ‘cash-out quickly’ feature without KYC In its effort to make this amazing system available to everyone, users are not required to go through the hassle of completing their KYC before having access to the cash-out feature. A new user can simply create a Remitano account and immediately send money from South Africa to
March 23, 2021 in Investments -
Residential property boom predicted to continue into 2021
According to Shaun Rademeyer, CEO of MultiNet Home Loans, the notion of pent-up demand driving the current residential property boom has long been thrown out the window, with everyone now asking how long this trend will continue. He believes that we will continue to see this boom throughout the 2021 financial year, saying that MultiNet
March 23, 2021 in Property & Real Estate -
Mubadala, Abu Dhabi Catalyst Partners invest $150m in social media platform Telegram
Telegram has become one of the 10 most downloaded apps in the world with over 500 million monthly active users Source link
March 23, 2021 in Business News -
3 shifts in the world of investment
The investment world looks very different today than even a year ago, which requires investors to move away from preconceived notions and adapt to the new reality. Here are three changes to watch out for. Robin Parkbrook, fund manager and co-head of Asian equity alternative investments, Schroders. 1. Structural deflation is likely to persist –
March 23, 2021 in Investments -
Abu Dhabi media hub privatises post-production facilities
Twofour54 has announced the privatisation of post-production facilities in a deal with Genomedia Studios Source link
March 22, 2021 in Business News -
Mediclinic City Hospital performs the UAE's first paediatric robotic-assisted pyeloplasty surgeries
Minimally invasive robotic surgery using the Da Vinci Robotic system helps restore normal renal function in two young children aged 10 and four Source link
March 22, 2021 in Business News -
Working nine-to-five striking wrong note
Why the lasting legacy of Covid will be a complete transformation of the working day, according to Nidal Abou-Ltaif, president of Avaya International Source link
March 21, 2021 in Business News -
Dubai says non-urgent surgeries to resume as Covid pressure eases
Dubai Health Authority has issued a circular to announce the resumption of elective and non-urgent surgeries from Sunday Source link
March 20, 2021 in Business News -
Saudia signs $3bn financing deal to expand aircraft fleet
Saudi Arabian Airlines Corporation inks agreement with six local banks to finance new planes to mid-2024 Source link
March 20, 2021 in Business News -
Saudi Arabia confirms drone attack on Riyadh refinery
Ministry of Energy says attack resulted in fire but no injuries or deaths while supply was unaffected Source link
March 19, 2021 in Business News -
Business lessons from Beethoven
“For the last three years my hearing has grown steadily weaker … in the theatre I have to get very close to the orchestra to understand the performers, and … from a distance I do not hear the high notes of the instruments and the singers’ voices.” These were the words of Ludwig van Beethoven
March 19, 2021 in Investments -
Only 51% of estate agents met their sales targets in 2020
According to a Lightstone Property survey, only 51% of estate agents met their sales targets in 2020, down from 69% in 2019, as Covid-19 took its toll. Many, however, expect 2021 to be significantly better, with 81% believing they would meet their sales targets this year. While sales were down last year, Hayley Ivins-Downes, head
March 19, 2021 in Property & Real Estate -
UAE economy forecast to 'fully recover' in 2022 with 3.5% GDP growth
New UAE Central Bank report says economy will be buoyed by increasing fiscal spending, a pick-up in credit and employment and Expo 2020 Dubai Source link
March 19, 2021 in Business News -
How interest rate cuts grew the demand for property by 35%
The surprise turnaround of the residential property market is possibly the greatest economic highlight of the past year. Carl Coetzee, CEO of BetterBond A year ago, many sectors of the economy were forced to close as governments around the world imposed lockdown restrictions to limit the spread of Covid-19. Real estate experts predicted that the
March 18, 2021 in Property & Real Estate -
Why mobile phone and online purchasing prepaid and top-up plans are on the rise
UAE and Saudi Arabia among the biggest markets for prepaid mobile cards with millennials fuelling demand Source link
March 18, 2021 in Business News -
Made in Saudi: how Gulf kingdom plans new push into global markets
Saudi Export Development Authority chairman says to unveil new trade initiative on March 28 Source link
March 17, 2021 in Business News -
7th National Furniture Design Competition winners announced
Ian Perry from Durban-based furniture manufacturer Homewood won in the Established Manufacturers category while Mikhayla Peterson, Amukelani Mathebula and Michael Sushan from the University of Johannesburg took the win in the Student category of the seventh National Furniture Design Competition. Homewood founder and director Ian Perry Presented by the Department of Trade, Industry and Competition
March 17, 2021 in Manufacturing -
UAE's golden jubilee celebrations set to start on April 6
Running until March 31 2022, the UAE will host year-long initiatives, activities and grand celebrations Source link
March 17, 2021 in Business News -
Petrofac banned from new contracts by UAE's ADNOC for bribery charges
A former Petrofac executive pleaded guilty to three counts of bribery to influence the award of UAE contracts Source link
March 16, 2021 in Business News -
Why you need to consider PoPI during M&A deals
With the one-year grace period for compliance with the Protection of Personal Information Act (PoPI) ending on 30 June 2021, it’s difficult to think about anything outside of your own organisation’s compliance (well, at least for us compliance fanatics, that is). However, if you’re considering an M&A deal currently or in the future, PoPI should
March 16, 2021 in Investments -
An offshore endowment may just be the ‘safe choice’ local investors seek
This year’s National Budget Speech, delivered in February by Finance Minister Tito Mboweni, has been keeping analysts busy as they unpack the details of the country’s economic plans. One area in which there have been a lot of changes are foreign exchange controls. The laws regarding forex are still being finalised and clarity is being
March 16, 2021 in Investments -
UAE Gender Balance Council chief hails move to appoint more women to the board
Sheikha Manal says move is ‘vital step towards further empowering women’ in line with international best practices Source link
March 15, 2021 in Business News -
RE Capital, Neworld launch new investment JV, Reward Properties
Geneva-based property investment, development and asset management business RE Capital, and Neworld, a European-domiciled property development company, have launched a joint venture called Reward Properties. The new company offers investors the opportunity to buy into the high-end residential Portuguese real estate market. LX Living, Lisbon Portugal The two companies first worked together in 2019, developing
March 15, 2021 in Property & Real Estate -
How has Covid-19 impacted private equity in Africa?
Over the past year or so, we’ve all become familiar with a whole host of terms we knew nothing about at the start of 2020. Lockdown, rate of transmission, and social distancing all entered our collective vocabularies. At the same time, we had to get used to new ways of working and doing business. Bryan
March 15, 2021 in Venture Capital -
Youth most optimistic about property investment
According to the findings of the recently released Absa Homeowner Sentiment Index, aspirant buyers between the ages of 18 and 24 have the highest positive sentiment towards property investment in current market conditions. The feeling is overwhelmingly positive across other age groups too and, overall, 78% of respondents agreed that now is an appropriate time
March 15, 2021 in Property & Real Estate -
Non-residential contractors pessimistic as building confidence slips in 1Q2021
According to the latest FNB/BER Building Confidence Index, more than 70% of respondents are dissatisfied with prevailing business conditions. After rising to 29 in 4Q2020, the index shed two points to register a level of 27 in 1Q2021. Main contractor confidence edged one index point lower to 20 in 1Q2021. In contrast, sub-contractor confidence fell
March 15, 2021 in Manufacturing -
On-demand laundry startup eyes further growth in the region
Laundryheap adapts to coronavirus and raises $3.5m as part of Series A round led by Sova VC Source link
March 15, 2021 in Business News -
Tourism to bring 'important economic growth' for Dubai as part of 2040 plans
Dubai 2040 Urban Master Plan to increase land used for hotels and tourist activities by 134% Source link
March 14, 2021 in Business News -
Revealed: how Dubai is set to look in 2040 under new master plan
Sheikh Mohammed launches new Dubai 2040 Urban Master Plan that maps out sustainable development in the city Source link
March 14, 2021 in Business News -
UAE cloud services forecast to deliver $27bn boost, create 69,000 jobs
New research says cloud ecosystem is expected to propel the UAE economy upwards, creating jobs and driving investment Source link
March 13, 2021 in Business News -
Saudi king sacks high ranking officials including Minister of Hajj and Umrah
Saudi leader King Salman issues royal orders as he dismisses a number of officials in the kingdom Source link
March 12, 2021 in Business News -
Scaling up bioenergy production could substantially raise water stress
According to a new study from an international team of scientists, biomass plantations for energy production need sustainable water management in order to avoid a substantial increase in water scarcity. Bioenergy is frequently considered one of the options to reduce greenhouse gases for achieving the Paris climate goals, especially if combined with capturing the CO2
March 12, 2021 in Energy -
Africa hotel transactions set to increase as owners forced to consider disposal prospects
According to JLL’s Hotels & Hospitality Group, Covid-19 is expected to impact the hotel sector in Sub-Saharan Africa in the long term with an increase in the number of hotel transactions expected over the next few years. Vaccines have, however, buoyed prospects for the travel and tourism sector globally and recovery is expected to begin
March 12, 2021 in Property & Real Estate -
Life after Libor – assistance for legacy contract holders
The UK Financial Conduct Authority is considering whether it will be necessary to publish some synthetic London Interbank Offered Rate (Libor) benchmarks after the termination dates set out by ICE Benchmark Administration to assist legacy contract holders. On enactment of the Financial Services Bill by the UK Parliament, amongst other things, the UK Financial Conduct
March 12, 2021 in Investments -
Dubai gov't CEOs face new appraisals to boost public sector performance
A new performance management system for CEOs of government entities has been approved by Dubai ruler Sheikh Mohammed bin Rashid Al Maktoum Source link
March 12, 2021 in Business News -
Neighbourhood watch: What's happening in the GCC's inward investment market in 2021
Neighbourhood watch: What's happening in the GCC's inward investment market in 2021 Source link
March 11, 2021 in Business News -
JSE comes out tops with best gender balanced board in G20
According to the recently released Stock Exchanges Gender Equality analysis report, issued by the Sustainable Stock Exchanges (SSE) Initiative, the Johannesburg Stock Exchange (JSE) has the best gender balance on boards of any developing country in the G20. The report, released on International Women’s Day, looks at the gender composition of boards from the top
March 11, 2021 in Investments -
UAE Ministry of Economy reminds businesses to register in anti-money laundering system
Companies need to register in Financial Intelligence Unit or risk revocation of license or closure Source link
March 10, 2021 in Business News -
Thinking of purchasing an investment property in the current market? Here’s what to consider
Current real estate conditions pose an interesting dilemma for real estate investors. Purchasing an investment property now means that investors will benefit from the historically low interest rates. On the downside, interest rates are also incentivising tenants to move into homeownership, which means that qualified tenants are hard to come by within the current market.
March 10, 2021 in Property & Real Estate -
Moshe Capital Fund Managers seeks investment opportunities of up to R350m
Private equity company Moshe Capital Fund Managers is actively seeking to invest R350 million into diverse companies with a solid presence in their sectors. Mametja Moshe, CEO of Moshe Capital The firm has secured a funding commitment from FNB Commercial and has entered into a partnership agreement with RMB Ventures, both divisions of FirstRand Limited.
March 10, 2021 in Investments -
Dubai extends freeze on public service fees to accelerate recovery
No new fees will be imposed, except in the case of the introduction of new vital services Source link
March 10, 2021 in Business News -
Where should African real estate investors put their money?
2020 was one of the most extraordinary years in living memory. The world to which we’d become so accustomed was flipped on its head. The business community was forced to innovate as it adapted to the new normal. Barbara Chanakira, CEO of Wetherby Real Estate A brand new set of economic conditions, brought about by
March 10, 2021 in Property & Real Estate -
Reverse culture shock is real, and it's not fun
Thousands of expats who have left Dubai amid the pandemic are in for a rude awakening back home Source link
March 9, 2021 in Business News -
SAREIT report reveals R3bn contribution in Covid-19 rental relief
The SA REIT Association (SAREIT) has released a report unpacking the extent of the Covid-19 rental relief initiatives provided by REITs to their tenants during the pandemic. The rental relief was mainly in the form of discounts or deferrals, of which 80% relates to unrecoverable discounts, intended to sustain tenants’ cashflows and curb business failures.
March 9, 2021 in Property & Real Estate -
Have your say on draft Regulation 28 amendment
The National Treasury has called on the public to comment on the draft amendments to Regulation 28 of the Pension Funds Act. In a statement issued on Thursday, the department said, due to technical problems currently being experienced by the Government Printing Works, publication of the Gazette was delayed until 1 March 2021 and backdated
March 9, 2021 in Investments -
Chemical Seta to fund major research projects with over R1.6m
The Chemical Industry Education and Training Authority (CHIETA) will be funding two South African universities with R1,647,500 this year, supporting research and innovation in pharmaceuticals, nanotechnology, and fuel cell batteries. Yershen Pillay, CEO, CHIETA Said CHIETA CEO Yershen Pillay: “We must cement new and lasting partnerships that will allow us to put the chemical industry
March 9, 2021 in Manufacturing -
How Covid-19 impacted South Africa’s venture capital space
A little under a year ago, South Africa confirmed its first Covid-19 case. At the time, there was still hope that the country could isolate and contain the disease, allowing economic activity to continue as normal. Few could’ve guessed the toll the following months would take on our lives and livelihoods. Photo by cottonbro from
March 9, 2021 in Venture Capital -
PayProp Index confirms devastating impact of lockdown on rental market
In November 2020, for the first time since the PayProp Rental Index launched in 2012, growth was negative – the average rent was 0.3% lower than in November 2019. This is according to the recently released PayProp Rental Index Annual Review for 2020 which has confirmed the devastating effects of lockdown on the rental market
March 9, 2021 in Property & Real Estate -
Bahrain's Investcorp said to raise $1bn for North American deals
Investcorp, which oversees about $34 billion, is raising more funds for specific uses as it looks to boost assets under management Source link
March 9, 2021 in Business News -
Helping Cape Town’s clothing manufacturing sector rebuild
Local clothing manufacturing businesses across Cape Town are launching an online development programme that is being supported with funding from the City of Cape Town. The programme is focused on helping companies create first-line managers who will drive productivity, create stability and harness innovation. Pep Clothing Mayoral Committee Member for Economic Opportunities and Asset Management,
March 8, 2021 in Manufacturing -
DXB Entertainments shareholders urged to accept Meraas offer
Move by Meraas Holding to acquire the theme park operator’s debt and take it private will be discussed at a general assembly meeting on Tuesday Source link
March 8, 2021 in Business News -
Coral Bloom: Is this the world's most ambitious regenerative tourism project?
John Pagano, CEO of The Red Sea Development Company (TRSDC), explains how the Coral Bloom concept sets a new benchmark for sustainable ‘barefoot luxury’ Source link
March 7, 2021 in Business News -
Dubai's DP World to invest $1.2bn in Indonesia port, logistics park
Long-term agreement has been signed with Indonesian conglomerate Maspion Group to start construction of the projects in Gresik Source link
March 7, 2021 in Business News -
Cinemas, restaurants to reopen as Saudi Arabia prepares to relax Covid restrictions
Lifting of restrictions will take effect from Sunday and will include the reopening of cinemas, indoor entertainment centres as well as restaurants, gyms and sports centres Source link
March 6, 2021 in Business News -
Saudi's AlUla airport gets nod for international flights after expansion
International flights are currently suspended due to the ongoing coronavirus pandemic and are expected to resume in mid-May Source link
March 5, 2021 in Business News -
Register for free business-to-business webinar, 24 March 2021
Bizcommunity is proud to announce a media partnership with Success by Design in their forthcoming free webinar, titled ‘B2B in Africa for Africa’, taking place on Wednesday, 24 March 2021 at 12-12.40pm. Join us to hear guest speaker, Bizcommunity’s new business development manager and recruitment specialist, Clarina De Freitas, who will talk about trends and
March 5, 2021 in Manufacturing -
Revealed: the rising importance of Abu Dhabi's manufacturing sector
Total of AED3.9bn investment made in new industrial facilities in 2020 as sector contributes over 10% to non-oil GDP Source link
March 5, 2021 in Business News -
Etihad Airways' core operating losses extend to $1.7bn amid coronavirus crisis
Financial results from Abu Dhabi-based carrier also reveal it has lost a third of its workforce in last 12 months Source link
March 4, 2021 in Business News -
Buy Local Summit & Expo goes virtual this March
The 9th annual Buy Local Summit & Expo is being held virtually between 8-10 March this year. The event is hosted by Proudly South African, the country’s official buy local advocacy campaign. Credit: Proudly South African A vastly different format from previous Buy Local Summits, this event will focus on conversations that educate, inform, and
March 4, 2021 in Manufacturing -
Hollard launches ad-sharing campaign
Building a small business is an extreme sport but a mindset shift by asset managers to start investing in startups can support promising small enterprises, which in turn should use their nimbleness to access markets that are hard to penetrate. This is according to entrepreneur and chartered accountant Andile Khumalo, speaking about the importance of
March 4, 2021 in Venture Capital -
Saudi retail majors to invest in UK fast fashion e-commerce platform
Fawaz Abdulaziz Alhokair Co and Arabian Centres Company will acquire a combined 51% stake in Vogacloset Source link
March 4, 2021 in Business News -
Is the human resource function a help or a hindrance to coronavirus-era productivity?
Human Resources departments should be an enabler in times like these, providing a compassionate, flexible and supportive role for a company’s employees Source link
March 3, 2021 in Business News -
Changes to Regulation 28, a step in the right direction
The proposed amendment to Regulation 28 of the Pension Funds Act, which will allow investment in infrastructure within the various asset categories, is a step in the right direction, says Malusi Ndlovu, director of large enterprises at Old Mutual Corporate. The proposal, if implemented, would permit overall investment in infrastructure across all asset categories up
March 3, 2021 in Investments -
The impact of the Taxation Laws Amendment Act
As currently worded, the definitions of pension preservation fund, provident preservation fund and retirement annuity fund in section 1 of the Income Tax Act, 1962, make provision for a payment of lump sum benefits when a member of a pension preservation, provident preservation or retirement annuity fund withdraws from the retirement fund due to that
March 3, 2021 in Investments -
Shareholders urged to back merger of Emaar Properties, Emaar Malls
Boards of both companies vote to recommend all share merger aimed at boosting financial and operational performance Source link
March 2, 2021 in Business News -
Many African countries had a surprise manufacturing surge in 2010s
Getty Unfortunately, this comes at a time when the region has been experiencing a surprising and very welcome manufacturing renaissance. Historically, industrialisation has been associated with rapid technological improvements and sustained growth in the western world, and more recently east Asia, gainfully employing millions of workers and helping it to close the income gap with
March 2, 2021 in Manufacturing -
Europlaw Group and SJ Global Investments entered into international joint venture agreement
Europlaw Group, operating mostly Republic of South Africa and the United Kingdom, decided of entering into a formal business collaboration of entering into a joint venture with SJ Global Investments, operating from the United Kingdom, Switzerland and UAE with an international footprint in multiple investment verticals that includes property, real estate management, private equity, commodity
March 2, 2021 in Investments -
Private investment critical to meet Africa’s energy needs
Africa has the potential to harvest 1,000 times more than the continent’s projected demands for electricity in 2040 from renewable sources. “By harnessing these renewable energy sources, Africa can leapfrog to a sustainable and secure energy future – one that fosters resilience and equality and protects both livelihoods and the environment,” said Francesco La Camera,
March 2, 2021 in Energy -
Abu Dhabi's newest wealth fund comes into focus as assets reach $110bn
The UAE capital is a sovereign wealth hub, with ADQ overseeing $110 billion in assets Source link
March 2, 2021 in Business News -
The newest addition to the Gordon Institute of Business Science, plans on making a big difference across Africa
With the eruption of the pandemic, the fault lines in our economic system have become all too apparent. A new collaborative model would need to be fostered between the public, private and civic sectors across Africa to deploy capital directly towards primary markets, thereby re-establishing the primary function of linking capital to means of production,
March 1, 2021 in Investments -
The rise of super apps, like Careem, in the Middle East
Dubai’s Careem eyes growth through partnerships, making the app a one-stop shop for services from ride-hailing to hiring maid service Source link
March 1, 2021 in Business News -
Radically different approach needed to power Africa
If the continent dealt with its access to electricity challenge with the same gusto it is applying to fighting the Covid-19 pandemic, the problem would already be solved, Dr Louis van Pletsen, director of InAfrica, told the Africa Energy Indaba virtual conference The dilemma of lack of electrification in Africa has been the same for
March 1, 2021 in Energy -
2021 Investor of the Year Awards open for entries
The SA Property Investors Network (SAPIN) is inviting all South Africans over 18 who have invested in property between November 2019 and August 2021 to enter the annual Investor of the Year Awards. “The Investor of the Year Awards is all about celebrating success in the dynamic field of property investment while providing the opportunity
March 1, 2021 in Property & Real Estate -
2020 a slow year for dealmaking in Africa, but post-pandemic opportunities look promising
Kenya Deal making in Kenya dropped 28% with only 18 deals in H2 2020, but deal value increased by 224% to $467mn. This was mainly due to Network International Holding Plc’s $288mn acquisition of Direct Pay Online Ltd. Activity for the full year 2020 was down 28% in volume terms, but value increased by 52%
March 1, 2021 in Investments -
Dr reveals plan to lose five million pounds in two years as obesity proves challenge in GCC
Dr Shantanu Gaur is behind the world’s first weight-loss concept, requiring no surgery, endoscopy or anaesthesia, which is proving hugely popular in the Middle East Source link
February 28, 2021 in Business News -
Work starts on helicopter terminal to serve Expo 2020 Dubai
Terminal combines a helipad, exhibition and lounge areas in a single city-based heliport Source link
February 28, 2021 in Business News -
How Saudi giga project is aiming for 'zero waste to landfill' as construction steps up
A waste management facility opens to ensure no construction materials used in Saudi Arabia’s The Red Sea Project goes to landfill Source link
February 27, 2021 in Business News -
Spanish minister eyes more foreign investment in and from the UAE
Xiana Mendez, Spanish Minister of State for Trade, says there is ‘scope for improvement’ despite ‘impressive’ figures Source link
February 27, 2021 in Business News -
Made in Africa conference aims to drive Pan-African prosperity
His Excellency Prof. Dr. Ambassador Tal Edgars, group executive chairman of GBSH Consult Group Worldwide Made in Africa will feature a two-day, high-impact online programme that will enable delegates to learn, engage and do business. Buy Africa for Africa Business leaders speaking at the launch of the inaugural Made in Africa conference, drove home the
February 26, 2021 in Manufacturing -
World's biggest sovereign fund slashes Saudi stocks exposure
Norway’s $1.3 trillion sovereign wealth fund cuts holdings in Saudi shares from $420m to $192m, boosts Qatar portfolio Source link
February 26, 2021 in Business News -
S&P says Qatar developer Ezdan faces restructuring, default risk
Ratings agency expects Ezdan’s operating performance to “improve slightly” in 2021-2022, but not enough to materially reduce the very high leverage Source link
February 25, 2021 in Business News -
Electricity tariff increase will disrupt SA’s automotive supply chain
The Automotive Industry Development Centre in the Eastern Cape (AIDCEC) says that the electricity tariff increase of 15% will slam the brake on the South African automotive supply chain’s drive for greater levels of global competitiveness. Photo by Fré Sonneveld on Unsplash The AIDCEC says rising input costs could stunt growth in volumes and particularly
February 25, 2021 in Manufacturing -
3 ways the Budget Speech impacts healthcare in SA
From a healthcare perspective, this year’s Budget Speech is significant in three key ways. Obviously the main message of this year’s budgeting process is the prioritisation of the Covid-19 vaccine rollout. But it’s also clear that the minister and his team focused on supporting economic growth, which correlates with medical aid membership levels. Although National
February 25, 2021 in Investments -
Treasury’s decision to cancel S12J investments
In the 2021 Budget Review tabled with finance minister, Tito Mboweni’s budget speech yesterday, Treasury announced that Section 12J of the Income Tax Act will not be extended past its sunset date of 30 June 2021. Parliament is now faced with the decision whether to accept Treasury’s policy and not extend Section 12J, or take
February 25, 2021 in Investments -
Tax relief, further fiscal consolidation welcomed
Apart from the commitment made to the urgent rollout of the vaccination programme, of comfort to debt-burdened consumers is the announcement in the National Budget Speech that there will be no increase in personal income tax, but instead, a 5% adjustment in the personal income tax brackets which will combat fiscal drag and provide R2.2bn
February 25, 2021 in Property & Real Estate -
Why more UAE homeowners and renters expect property price to rise in the next 12 months
Property buyers are looking beyond the pandemic, a chief economist says Source link
February 25, 2021 in Business News -
Positive budget welcome news for homeowners and consumers
Finance minister Tito Mboweni presented a “positive budget” under challenging circumstances, perhaps the most challenging over the last 27 years. We welcome the focus on economic recovery, relief for households, vaccinations and the various reforms proposed, including in corporate tax, the public sector wage bill and state-owned enterprises. Samuel Seeff, chairman of the Seeff Property
February 24, 2021 in Property & Real Estate -
Undeterred by Covid-19, private capital continues to invest in commercial real estate
According to Knight Frank’s 2021 edition of The Wealth Report, private capital has been undeterred by the Covid-19 pandemic and has continued to invest in commercial real estate globally. The volume of private capital invested globally was approximately $232bn – 9% above the 10-year average, albeit down on 2019 levels. Looking forward, the Knight Frank
February 24, 2021 in Property & Real Estate -
Companies need clear environment, social, and governance strategies to attract talent
Gen Z is more interested in working for companies that care about the environment, and companies need to adjust their strategies to attract top talent Source link
February 24, 2021 in Business News -
Which is right, red, or white?
In the 1974 movie Juggernaut there is a scene in the end of the movie when the bomb disposal expert, Fallon must choose between two wires – red or white to disarm the bomb. Finally, as the clock ticks, Fallon makes his choice by intuition. Mel Meltzer, joint manager, Platinum Portfolio In today’s stock market
February 24, 2021 in Investments -
Return of international travel 'vital' to UAE tourism industry recovery
Leading figures tell Arabian Business panel discussion staycations alone cannot sustain sector Source link
February 23, 2021 in Business News -
Inoxico enables sustainable business growth
The Vumela Fund, established by FNB Business and Edge Growth, is excited to announce an equity investment into Inoxico, enabling the company to continue establishing itself as a recognised commercial credit risk technology provider. Inoxico is a tech company that uses trade credit analytics to help companies grow with their business customers. Trade credit (offering
February 23, 2021 in Venture Capital -
South Africa can’t afford hydropower from Inga 3
As finance minister Tito Mboweni prepares to deliver his budget in Parliament this week, it is imperative that he unshackles South Africans from the financial calamity that is the Inga 3 hydropower project. Grand Inga 3. Photo: Congo Research Group Mboweni’s speech comes almost one year after the first Covid-19 cases were reported in South
February 23, 2021 in Energy -
Reliance to spinoff oil-to-chemicals unit with $25 billion loan
Oil-to-chemicals contributed more than 60 percent in the last financial year to the group’s revenue Source link
February 23, 2021 in Business News -
Why employees can reap rewards of Saudi relocation
International companies may have to look at ‘substantial pay hikes’ in order to move talent to kingdom Source link
February 22, 2021 in Business News -
TFG presses for cut in yarn import duties to advance SA manufacturing
Retail group TFG has urged the South African government to speed up a planned removal of import duties on yarns, which are cotton threads used to make fabric. The Foschini owner said this change is essential to enable larger purchases of locally-made fabrics. In addition, the company said that further investment to support the upgrading
February 22, 2021 in Manufacturing -
Tilting towards value
Although we maintain a bullish outlook for global equities in general for 2021, we are switching our bias from a preference for the so-called quality and growth stocks to an increasingly optimistic outlook for value equities. Steve Brice, chief investment officer for wealth management. Standard Chartered Bank At a high level, growth stocks are companies
February 22, 2021 in Investments -
Saudi-backed Lucid Motors said to near deal to go public via Klein's SPAC
The special purpose acquisition company has been in talks to raise between $1bn and $1.5bn in funding from institutional investors to support the transaction Source link
February 21, 2021 in Business News -
Delivering on the digital promise in a post pandemic world
Dubai strategically positioned to continue to lead the development of digitally enabled financial solutions for the region, writes DIFC CEO Source link
February 21, 2021 in Business News -
Saudi Arabia invests more than $3bn in US video game makers
Public Investment Fund invests in Activision Blizzard, Electronic Arts and Take-Two Interactive Software, according to a regulatory filing Source link
February 20, 2021 in Business News -
How the pandemic recovery might look in the Middle East in 2021
The sentiment that perhaps best describes the new normal across the Middle East is tempered optimism, says Sudip Saha Source link
February 20, 2021 in Business News -
Bahrain set to close schools, gyms as it toughens coronavirus rules
Bahrain announces plans to toughen its measures against the spread of coronavirus from Sunday Source link
February 19, 2021 in Business News -
SA’s backbone industries and 12J investment
The country’s economy contracted 6.1% in real terms in the third quarter of 2020 compared with the same period a year earlier, according to data from Statistics SA. This figure does not truly relay the effect on livelihoods. The Covid-19 pandemic triggered havoc on the health and finances of millions of South Africans. Now, as
February 19, 2021 in Venture Capital -
Discovery Invest shares their market outlook for 2021
It goes without saying that 2020 was a tumultuous year as people around the world confronted the unprecedented social, economic and political challenges brought about by the Covid-19 outbreak. Kenny Rabson Globally, governments moved to protect their citizens from Covid-19 by imposing renewed lockdowns, sending the global economy into a severe contraction. Unsurprisingly, markets were
February 19, 2021 in Investments -
Alba Cars: What to look out for when buying a used car
Pre-owned vehicles can offer great value, particularly in the luxury category but beware – there are many underhanded operators in the UAE. From due diligence to financing and warranties, here’s what you need to look out for when buying a used car. Source link
February 18, 2021 in Business News -
Amended PIC Act signed into law
The Public Investment Corporation Amendment Act has been promulgated and published in the Government Gazette. This, after it was signed into law by President Cyril Ramaphosa. “[It] provides that the Minister of Finance, as representative of the shareholder, ‘may designate the Deputy Minister of Finance or any Deputy Minister in the economic cluster’ to be
February 18, 2021 in Investments -
2020 a slow year for dealmaking in Africa, but post-pandemic opportunities look promising
South Africa M&A activity in South Africa decreased as a result of the COVID-19 pandemic. The number of transactions dropped by 6% to 186 deals in H2 2020, and the value of the deals shrunk by 36%, down to $4.9bn from H2 2019. The full year 2020 activity was down 6% to 337 deals, while
February 18, 2021 in Investments -
HSBC Singapore chief executive tapped to run Saudi British Bank
Tony Cripps will replace CEO David Dew at SABB, who is retiring in May Source link
February 18, 2021 in Business News -
South Africa’s Tiger Brands sees H1 profit up to 20% higher
JOHANNESBURG (Reuters) – South Africa’s biggest food producer Tiger Brands said on Wednesday it expected headline earnings from continuing operations to rise as much as 20% in the six months to 31 March. The owner of popular brands such as Jungle Oats and Tastic rice said headline earnings per share (HEPS), the main profit measure
February 18, 2021 in Investments -
UAE mulls price cap on some foods as global crop costs soars
Minister of State for Food and Water Security says studying price rise carefully and may need to make ‘adjustments’ Source link
February 17, 2021 in Business News -
Warner Music buys stake in Saudi billionaire's record label
Rotana Music deal gives Warner rights to distribute releases by some of the Arab world’s biggest artists outside the Middle East Source link
February 16, 2021 in Business News -
Can real estate contribute towards rebuilding South Africa’s crippled economy?
Despite President Ramaphosa’s optimistic analogies of fynbos re-emerging after fire, 2021’s State of the Nation Address made it clear that South Africa has a long, and largely undefined, road to recovery ahead. While defeating the coronavirus pandemic and state corruption featured highly, economic recovery took centre stage. The good news is this is one area
February 16, 2021 in Property & Real Estate -
Global commodities’ position as a bull sector within a bear market represents a unique opportunity for African mining
The world’s mining sectors’ performanc usually tracks the ups and downs of global GDP. However, this historic correlation has never really been tested against the backdrop of a truly global health and economic crisis – until 2020, that is. Nivaash Singh, co-head of mining and resources finances, Nedbank Corporate and Investment Banking Apart from its
February 16, 2021 in Investments -
Dubai International Airport traffic slumps 70% in 2020 on coronavirus lockdowns
Chief executive Paul Griffiths confident airport will remain largest intercontinental hub in the world Source link
February 16, 2021 in Business News -
Why millennials are likely to drive growth in global Islamic finance
Young Muslims want to know that their money is doing good in the world, says Islamic finance expert Source link
February 15, 2021 in Business News -
What the real estate industry can expect
As we await the National Budget Speech later this month, many investors and roleplayers in the real estate industry are holding their breath to gauge the year ahead. A tumultuous 2020 left many feeling hesitant and we’re seeing a strong sense of cautious optimism as we head towards the new financial year. Pearl Scheltema, CEO
February 15, 2021 in Property & Real Estate -
The rise of the retail investor
Governments and central banks across the globe have implemented measures to counter the expected negative effects of Covid-19 and lockdowns on economies since the start of the pandemic. Many central banks drastically reduced the cost of borrowing through monetary easing and with fixed income yields dropping to very low levels, investors (often with borrowed cash)
February 15, 2021 in Investments -
Property, tax and SONA
As is expected after a year like no other, the primary focus of the President’s 2021 State of the Nation Address was the Covid-19 pandemic, and how it has ravaged the nation. While it has caused significant damage through loss of life, just as drastic has been its effect on our economy and the rising
February 15, 2021 in Property & Real Estate -
Emerging from a crisis: lessons in leadership and transformation
Having worked through political instability, famine, natural disaster and a pandemic, HSA Yemen offers a blueprint for companies trying to reset in difficult times Source link
February 15, 2021 in Business News -
Why employee wellness is healthy for businesses in the region
Ahead of the Wellbeing @ Work Middle East Summit, from February 22 to the 24, Nida Yousef, the global human resources director at Daraz, part of the Alibaba Group, gives her on work place mental health Source link
February 14, 2021 in Business News -
Gates Foundation boss on why philanthropy is on the rise in the Arab world
Robert Rosen says the coronavirus pandemic has created a transformative moment for giving in the region and globally Source link
February 13, 2021 in Business News -
Why the UAE could emerge as the preferred destination for Indian investments
Indian government takes decision to reclassify the UAE, making it more attractive for foreign portfolio investors Source link
February 13, 2021 in Business News -
Oman Air abandons fleet expansion plan as virus hits flights demand
Chairman of national carrier says it is to cut its fleet to 36 planes, down from the current 50 Source link
February 12, 2021 in Business News -
AfCFTA: Alive with possibilities
The South African government says it will maximise the opportunities presented by the African Continental Free Trade Area (AfCFTA), which came into operation on 1 January 2021, following the adoption of the Johannesburg Declaration by the African Union (AU). The AFCTA is set to create a massive market and demand for locally-produced machinery, clothes and
February 12, 2021 in Investments -
Solar panels in Sahara could boost renewable energy but damage the global climate
Researchers imagine it might be possible to transform the world’s largest desert, the Sahara, into a giant solar farm, capable of meeting four times the world’s current energy demand. Blueprints have been drawn up for projects in Tunisia and Morocco that would supply electricity for millions of households in Europe. While the black surfaces of
February 12, 2021 in Energy -
How property owners can navigate financial distress
The Covid-19 pandemic disrupted global economies and industries worldwide in 2020 and is predicted to do the same in 2021. In this instance, many property owners have already felt the pinch since then, whether in commercial or residential property, and thus some might find themselves stranded and lacking the necessary insight into how to navigate
February 12, 2021 in Property & Real Estate -
Manufacturing output up 1,8% in December
Manufacturing production increased by 1,8% in December 2020 compared with December 2019, according to data from Statistics South Africa (Stats SA). The largest positive contributions were made by the following divisions: • food and beverages (6,4% and contributing 2,2 percentage points);• motor vehicles, parts and accessories and other transport equipment (18,1% and contributing 0,8 of
February 12, 2021 in Manufacturing -
Buying vs renting – is the time to purchase now?
According to ooba Home Loans CEO Rhys Dyer, “Unlike other ‘flash in the pan’ trends, the time to purchase a home is right now.” Rhys Dyer, CEO, ooba Home Loans “For those with leases coming up for renewal,” he says, “I’d strongly urge you to do the math and weigh up whether it truly is
February 12, 2021 in Property & Real Estate -
New Aldar unit acquires Asteco in property management push
Aldar Estates announces deal to take over real estate services company in the UAE Source link
February 11, 2021 in Business News -
3 ways to earn more money from your property
Property assets can be leveraged in many ways – both in the short- and the long-term. For those looking for a few ideas, here are some creative ways to earn more money from your property. Paul Stevens Increase its value “I believe that the current, strong demand from property purchasers is going to continue into
February 11, 2021 in Property & Real Estate -
Are cryptocurrencies the top-performing asset class of the decade or the world’s greatest bubble?
In the early 1990s, when the internet was still in its infancy, there was some hesitation in adopting this new and unfamiliar technology with limited use in our personal and work lives. Today, the internet is the backbone of global industries and fuels the $11.5trn digital economy. The internet is now so native to us
February 11, 2021 in Investments -
The future of Section 12J and the Sunset Clause by Grovest
Section 12J is the fastest-growing alternative asset class in South Africa, catching the attention of many individuals, family offices and institutional investors. Section 12J not only offers attractive returns to investors, but is structured to make a positive and significant impact on the economy by providing capital to both SME’s and job creation. The Section
February 11, 2021 in Investments -
Please don't just ask me to talk about diversity
While discussions surrounding diversity and inclusion have their place in STEM, women should be engaging in discussions surrounding their areas of expertise, says Carla Sertin Source link
February 11, 2021 in Business News -
Air Arabia posts $56m losses after virus impact despite Q4 uptick
Sharjah-based low cost carrier makes AED20m profit in final quarter of 2020 despite ‘biggest challenge in history’ Source link
February 10, 2021 in Business News -
Playtex factory liquidation leaves hundreds without work in SA
Hanes South Africa, which holds the licence to manufacture, sell and distribute underwear under the Playtex trademark in South Africa and several other African countries, has filed for voluntary liquidation. Credit: jackmac34 via Pixabay The 60-year-old company’s factory in Mobeni East has been shut since early January, according to an IOL report, leaving over 700
February 10, 2021 in Manufacturing -
Mega co-located trade show set for Joburg in November
Messe Muenchen South Africa, presenters of Analytica Lab Africa, Ifat Africa and Food & Drink Technology (FDT) Africa, are gearing up to present the three events in a mega co-located trade show from 2-4 November 2021. Credit: FDT Africa The three events, traditionally co-located to give industry stakeholders access to networking and markets across integrated
February 10, 2021 in Energy -
Mars mission wins global praise as UAE joins space race top table
Russian, French and Indian space agencies applaud the UAE’s achievement as the Hope Probe successfully enters Mars orbit Source link
February 10, 2021 in Business News -
UAE visitors to receive 'Martian Ink' passport stamp upon arrival
Special passport stamp marks the Hope Probe spacecraft’s upcoming arrival to Mars Source link
February 9, 2021 in Business News -
5 aspects of 12J investments you may be myth-ing
“Too good to be true” is an adage that typically services you well when it comes to your money, especially in a world full of myths and conspiracy theories, Ponzi deals, pyramid schemes and promises of the Next Big Thing. As such investors are – rightfully so – reluctant to participate in alternative investments but
February 9, 2021 in Investments -
Dubai desert camp shut down, operator fined over virus violations
Dubai Police in cooperation with Dubai Tourism takes action over private gathering in violation of coronavirus rules Source link
February 8, 2021 in Business News -
Lesser known property sub-sectors offer hope for battle-scarred investors
Despite the patchy property performance last year, there are still pockets of excellence for the smart investor. This is particularly the case in the seldom spoken of sub-sectors of our property market which hold real value for those who are prepared to take the road less travelled in 2021. Gary Palmer, CEO of Paragon Lending
February 8, 2021 in Property & Real Estate -
Optimising processes is critical to driving continuous improvement in a post-pandemic world
The manufacturing, warehousing and logistics sector has faced a number of challenges as a result of the Covid-19 pandemic. Those in services that were deemed essential had to cope with increased demand alongside reduced headcount, with short turnaround times. Other services experienced complete shutdowns followed by the need to reopen efficiently, when permitted, to maximise
February 8, 2021 in Manufacturing -
2020 a slow year for dealmaking in Africa, but post-pandemic opportunities look promising
Dealmaking activity in sub-Saharan Africa (SSA) dropped in the second half of 2020 (H2 2020), when compared to the second half of 2019 (H2 2019) and year-on-year, deals were also down in both volume and value compared to 2019. As Africa gears up for post-pandemic recovery in 2021, the opportunities presented by free trade across
February 8, 2021 in Investments -
FSCA warns against investing in crypto assets
The Financial Sector Conduct Authority (FSCA) has again warned of a number of high risks associated with investing in crypto assets, in the wake of the recent Mirror Trading International Proprietary Limited debacle. It said in a press release that: crypto investment firms (i) overstate the amount of expected returns on investments and (ii) understate
February 8, 2021 in Investments -
Driscoll's and Global farms partner up to grow raspberries in the UAE
The Emirati raspberries are available until March in select retail stores Source link
February 8, 2021 in Business News -
Optimism as January 2021 beats previous year for new business licenses in Dubai
Figures marks a 9 percent year-on-year increase, with Deira and Bur Dubai the busiest areas of activity Source link
February 7, 2021 in Business News -
Abu Dhabi bourse to cut trading fees to drive liquidity boost
Abu Dhabi Securities Exchange says trading activity fees will be reduced from Sunday February 14 Source link
February 6, 2021 in Business News -
How the UAE compares globally for supporting entrepreneurs
UAE has been ranked first in the in Middle East and fourth globally in the Global Entrepreneurship Index Source link
February 6, 2021 in Business News -
After a rollercoaster year, Gulf theme parks bet big on new attractions
Saudi Arabia’s Six Flags Qiddiya and Dubai’s Bollywood Parks aim high to grab more visitors in the post-coronavirus era Source link
February 5, 2021 in Business News -
The value of investing in the services of a forex broker
Photo by Chris Liverani on Unsplash Sometimes, the overwhelming process can get to be too much. It can sometimes be the most valuable asset you have to simply ask for assistance. This is exactly how, where, and why investing in the professional services of a forex broker can be so incredibly valuable. Having a seasoned
February 5, 2021 in Investments -
GameStop & the stock market
What is GameStop? GME is a struggling, publicly listed company on the New York Stock Exchange that sells video games and accessories through a chain of stores – think Blockbuster for video games. And like Blockbuster, GameStop is likely to suffer the same fate given that more and more people are downloading games off the
February 5, 2021 in Investments -
Unpacking the growing trend of women investing in property
In a recent Instagram Live session led by PR and communications specialist Tshego Kekana on The Thando Channel, the topic of women’s growing participation in the property market was addressed. Kekana chatted to local property guru and entrepreneur Teboho Mafodi. The conversation was sparked by the recent growth trend of young and single South African
February 5, 2021 in Property & Real Estate -
Why the UAE is set to benefit from post-pandemic boom
Global growth to recover swiftly as vaccination becomes reality, says Stephanie de Torquat and Christophe Lalandre Source link
February 5, 2021 in Business News -
The Red Sea Development Company commences hotel construction with award of two key contracts
Hotel construction is now underway following the award of two major contracts for hotel development at its Southern Dunes site and Ummahat Al Shaykh Island Source link
February 4, 2021 in Business News -
Taking down the old guard
A battle between retail investors and institutional investors, with the former take on the Wall Street establishment, in particular established hedge fund managers practising a short-selling strategy, hit the headlines recently. Ostensibly a David and Goliath battle, the reality is a little more complex. Paul Marais, MD, AlphaWealth The heat was turned up earlier last
February 4, 2021 in Investments -
What to expect from the industrial property market in 2021
The industrial property market in 2021 is certainly not an easy one to predict. However, learning from the past year’s events gives us a good idea of what we can expect. Image source: Gallo/Getty Here the main themes of industrial property in 2020 and how the year ahead will play out: The industrial property sector
February 4, 2021 in Property & Real Estate -
Friday brunch, a Dubai institution, suspended as Covid crackdown intensifies
Suspension comes as the UAE’s Ministry of Health and Prevention announced a further 3,977 new coronavirus cases on Wednesday Source link
February 3, 2021 in Business News -
Attracting inward investment in SA
The South African Reserve Bank (Sarb) recently published a circular setting out changes to the rules around loop structures in South Africa. First talks of this came about in February last year during the minister of finance’s budget speech and was reiterated in the country’s medium term budget policy statement in October. Judy Snyman, fiduciary
February 3, 2021 in Investments -
Prime global residential property market outlook shows strength, ongoing stability
According to Savills World Cities Prime Residential Index, despite the uncertainties surrounding the pandemic, the market for prime global residential property is expected to remain active as the long-term appeal of the sector holds strong. This as sentiment improves amidst the rollout of the Covid-19 vaccine across the globe, and as the Biden administration plans
February 3, 2021 in Property & Real Estate -
What is sustainability accounting? What does ESG mean? We have answers
Sustainability is a hot topic today due to increasing awareness of climate change and inequality, among other pressing issues. Image source: Gallo/Getty The Earth just recorded a seven-year hot streak and we’re approaching the Covid-19 pandemic’s first anniversary. The crisis has had enormous implications on our mental health, the economy and income inequality. Post-pandemic, we
February 3, 2021 in Investments -
Saudi closes borders to travellers from 20 countries, including UAE, India, UK and US
The Ministry of Interior announced that the temporary suspension comes to forces at 9pm tonight, Wednesday, February 3. Source link
February 3, 2021 in Business News -
Dubai takes delivery of first shipment of AstraZeneca vaccine from India
Dubai Health Authority says arrival of new vaccine is part of its commitment to provide the public a choice of jabs Source link
February 2, 2021 in Business News -
Ford invests $1bn in SA’s automotive manufacturing operations
Ford Motor Company has invested $1bn (R15.8bn) in the country’s automotive manufacturing operations. This was announced during a media briefing that was attended by President Cyril Ramaphosa and several key government leaders. Dianne Craig, president of Ford’s international markets group, says: “This investment will further modernise our South African operations, helping them to play an
February 2, 2021 in Manufacturing -
A fascinating dynamic for the resources sector
Issues such as climate change are no longer “soft” elements that can be tucked away in a sustainability report somewhere. Shareholders and other stakeholders are demanding that the banking sector adopts a responsible approach to funding of new projects in the mining and energy sector and this is driving a change in behaviour for all
February 2, 2021 in Investments -
Jackie van Niekerk named new CEO of Attacq
JSE-listed REIT Attacq has appointed its current chief operating officer Jackie van Niekerk as its new CEO with effect from 1 May 2021. Jackie van Niekerk appointed new CEO of Attacq Commenting on her new role, Van Niekerk said, “I am excited about the opportunity to lead the Attacq team as we continue building on
February 1, 2021 in Property & Real Estate -
Sergio Garcia talks Dubai, lockdown and the Ryder Cup
Spanish golfing star in contention at Dubai Desert Classic as he seeks a repeat of his 2017 triumph Source link
January 31, 2021 in Business News -
UAE amends nationality law to attract more talent for 'development journey'
Specific categories can acquire Emirati citizenship including investors, doctors, specialists, inventors, scientists and individuals with creative talents Source link
January 30, 2021 in Business News -
Saudi Arabia extends ban on international flights after vaccine delays
Saudi Ministry of Interior says it is to delay the reopening of land and sea ports until May 17 Source link
January 29, 2021 in Business News -
Impact of Covid-19 on the real estate sector
The challenge for investors today is identifying those real estate sectors that are thriving in the current market environment and those that have been badly affected by the Covid-19 pandemic. The value of investments and the income from them can fall as well as rise and are not guaranteed. Investors may not get back the
January 29, 2021 in Property & Real Estate -
Direct flights to be suspended as the UAE is added to UK's 'red list'
New rules will come into force from 1pm on Friday, after which there will be no direct flights to the UK from Dubai or Abu Dhabi Source link
January 29, 2021 in Business News -
Abraaj founder faces US fraud charges after losing extradition fight
London judge rules that Arif Naqvi should be sent to face US charges of fraud and racketeering related to Dubai PE firm Source link
January 28, 2021 in Business News -
Trends to expect in the township development, office, retail spaces
As the fight against Covid-19 rages on, the property sector shows a bag of mixed results with some parts of the sector showing signs of growing demand and growth prospects while others are on their knees. Seabelo (Herbert) Theledi, founder and managing director, Nthwese Developments As the situation currently stands, South Africa is in national
January 28, 2021 in Property & Real Estate -
Bitcoin: the Future of Money? author asks: Are we due another crypto crash?
January 2018 was when the crypto market crashed from its all-time highs. Are we in line for the same in 2021, asks Dominic Frisby, author of Bitcoin: the Future of Money? Source link
January 27, 2021 in Business News -
Young diamond jewellery designers called to enter Shining Light Awards
The 2020/2021 instalment of the Shining Light Awards (SLA) jewellery design competition invites promising young diamond jewellery designers from Botswana, Canada, Namibia and South Africa to showcase their talent. A ring from Lilja Hastie’s 2015 winning collection titled ‘Forever Intertwined’. The awards platform forms part of the De Beers Group Designers Initiative (DBGDI), a youth
January 27, 2021 in Manufacturing -
Top UAE banks see profits fall on higher provisions amid pandemic
Emirates NBD PJSC, Dubai’s biggest lender, said its full-year profit slumped by more than half Source link
January 27, 2021 in Business News -
UAE hotels suffer their worst year on record as coronavirus bites
New STR figures reveal all-time lows for occupancy and revenue levels in the UAE during 2020 Source link
January 26, 2021 in Business News -
Unpacking the commercial real estate landscape, rising trends for 2021
While 2020 will forever be remembered as a year of unprecedented challenges and uncertainty, 2021 promises to bring exciting shifts and investment opportunities to the fore. Not without its share of disruption, the property sector has pivoted to meet the changing demands of both landlords and tenants. Collaboration between landlords and tenants is at an
January 26, 2021 in Property & Real Estate -
Is Bitcoin the new gold?
Bitcoin has soared again in recent months – along with some of its cryptocurrency peers, such as Ethereum – making this very modern form of investing a very ‘hot’ topic at the moment. The seemingly ever-increasing price of Bitcoin leaves the world holding its breath once again – as we did at the end of
January 26, 2021 in Investments -
SH Capital Ltd launches in Dubai to empower SMEs with global banking services
The Stanhope Financial Group subsidiary aims to help clients get better returns than traditional banking deposit accounts can offer Source link
January 26, 2021 in Business News -
SAB suspends 550 temporary workers as production stagnates
South African Breweries (SAB) has had to suspend 550 temporary contract workers across its South African operations, as it navigates the unintended consequences of the third alcohol ban. These temporary contracts will predominantly affect positions within SAB’s supply and logistics workforce. Credit: SAB The brewer, owned by AB InBev, said that the lack of trade
January 25, 2021 in Manufacturing -
6 factors hanging in the balance for property in 2021
Having started the year in technical recession, only to be hit by a pandemic, few would have predicted that 2020 would turn into a successful year for property. Thanks to an unexpected wave of buyers triggered by low interest rates, motivated lenders, and excellent value on the market, however, South African property has emerged from
January 25, 2021 in Property & Real Estate -
Saudi wealth fund in talks with Lucid for car factory
Public Investment Fund is seeking to lure international companies to set up operations in the kingdom Source link
January 25, 2021 in Business News -
Kipeto wind power project adds 100MW to Kenya’s national grid
Kipeto wind farm has been connected to Kenya’s national grid and will start generating power in the next week. Kipeto wind farm The plant is connected by a 17km (220KV) high voltage transmission line, linking the facility to the national grid at the Isinya aubstation.The project’s 60 GE 1.7-103 wind turbines, each capable of producing
January 25, 2021 in Energy -
SA home market continues positive performance in 2021
According to Shaun Rademeyer, CEO of Multinet Home Loans, the local residential property market has continued to boom amidst the Covid-19 pandemic. Since July 2020, the average percentage in submitted property values has exceeded 12% in comparison to the same period in 2019. The main reasons for the growth, Rademeyer says, is attributed to the
January 25, 2021 in Property & Real Estate -
BetterBond CEO welcomes unchanged repo rate, good start to 2021
BetterBond CEO Carl Coetzee has welcomed the Monetary Policy Committee’s recent decision to hold the repo rate steady at 3.5%. Carl Coetzee, CEO, Betterbond “We welcome the MPC’s decision, which will keep the prime lending rate at its record-low of 7%,” says Coetzee. “Five consecutive repo rate cuts last year set the scene for the
January 25, 2021 in Property & Real Estate -
Abu Dhabi approves three new coronavirus tests
Antigen test, the RT-LAMP test and the saliva test to be used in emergency departments and urgent care centres across the emirate Source link
January 24, 2021 in Business News -
UAE backs coronavirus testing protocols after Denmark suspends all flights
Senior UAE official says all UAE testing centres are regularly subject to strict quality checks after Denmark raises concerns Source link
January 24, 2021 in Business News -
Lebanese celebrity shout-out platform aims to raise $1m in funding
Using localisation, Oulo eyes expansion into emerging markets such as India and Turkey Source link
January 23, 2021 in Business News -
Dubai toughens rules for restaurants, limits social events as cases hit new record
Dubai’s Supreme Committee of Crisis and Disaster Management has introduced a raft of new coronavirus rules, including increasing the distance between tables from two metres to three metres Source link
January 22, 2021 in Business News -
DSA calls on AU to help rid Africa of Ponzi schemes
The Direct Selling Association of South Africa (DSA) is imploring the African Union (AU) to initiate a continent-wide effort to stamp out Ponzi schemes. “The DSA has noted with concern the increasingly cross-border nature of Ponzi schemes,” says DSA chairperson Rajesh Parshotam. A Ponzi scheme is a form of fraud involving unscrupulous investors who take
January 22, 2021 in Investments -
Interest rate disappoints as second wave could eat into property and economic gains
The decision by the South African Reserve Bank (Sarb) to retain the repo rate at 3.5% (home loan base rate at 7%) is disappointing for the economy and property market. Samuel Seeff, chairman of the Seeff Property Group There is ample reason for a cut given the split decision and missed opportunity in November. Since
January 22, 2021 in Property & Real Estate -
Revealed: the financial impact of Covid lockdowns on Lebanese households
Eight-three percent of households have seen their income reduced or lost completely during lockdowns in Lebanon Source link
January 22, 2021 in Business News -
Emirates set to resume flights to Australia's largest cities after suspension
Dubai airline says it will resume flights to Sydney from January 25, to Melbourne from January 26, and to Brisbane from January 28 Source link
January 21, 2021 in Business News -
Unilever trials ‘nano factory’ in portable shipping container
To enable more flexible and agile food production, engineers at consumer goods company Unilever have designed a nano factory that fits into a 12-metre container. The prototype is a fully-functioning, mini production line that houses everything needed to produce a batch, from the point where raw materials go in at one end to where finished
January 21, 2021 in Manufacturing -
Repo rate remains unchanged, still room for a further cut
While a further reduction to the interest rate would have been a bonus for aspirant first-time home buyers and existing homeowners with mortgages, the Monetary Policy Committee’s decision to leave the repo rate unchanged at 3.5% was anticipated by the majority of market commentators. Dr Andrew Golding, chief executive of the Pam Golding Property group
January 21, 2021 in Property & Real Estate -
Ethnic conflict could unravel Ethiopia’s valuable garment industry
But, for the past two months, violent conflict in Ethiopia’s northern Tigray region fuelled by ethnic power politics has threatened the country’s stability. According to the International Crisis Group, the violence has likely killed thousands of people, including many civilians, displaced more than a million people internally, and led some 50,000 to flee to Sudan.
January 21, 2021 in Manufacturing -
2021 is the ultimate property investment year
If you’ve been holding out for the perfect time to leap into the property market, you’re not going to be disappointed this year. With a triple-whammy of rock-bottom interest rates, subdued property prices, and plenty of stock available, the year ahead is quickly shaping up to be the best property investment climate in fifty years.
January 21, 2021 in Property & Real Estate -
Revisions to Crisa align with growing interest in ESG investment
The code was launched in 2011 in response to the King III Report on Corporate Governance South Africa. King III and its predecessors provided a governance framework for companies and their boards but did not include institutional investors. To fill that gap, the Institute of Directors in South Africa (IoDSA) set up the Crisa committee
January 21, 2021 in Investments -
Huge Dubai office complex defies 'work from home' fears with raft of new tenants
ICD Brookfield announces the signing of 11 new leases at ICD Brookfield Place totalling 72,000 sq ft by blue-chip companies Source link
January 21, 2021 in Business News -
Henrik Stenson: top golfer's guide to business, high performance and life itself
As he prepares to compete in Saudi Arabia next month, the Swedish superstar shares his thoughts on business and coping with whatever life throws his way Source link
January 20, 2021 in Business News -
A challenging year anticipated for SA retailers
In the fourth quarter of last year, as Covid-19 appeared to be receding and the country had moved to a virtually lockdown-free scenario, the SA retail sector undoubtedly would have been looking forward to a significant uptick in festive season trade and hoping for that momentum to be maintained into, and through, 2021. Tasmika Ramlakan,
January 20, 2021 in Investments -
How venture studios are emerging as the go-to partners for Gulf start-ups
Middle East region is estimated to have an additional funding potential of $3 billion for start-ups Source link
January 19, 2021 in Business News -
3 wide-ranging issues demanding legal attention this year
Webber Wentzel sees three broad themes emerging in South Africa in 2021, which will require extensive input from the legal profession. These are: changes to the economy and regulation prompted by Covid-19; moves by government and the private sector to stimulate economic recovery; and a greater focus on corporate responsibility and consumer protection. 1. Post-Covid
January 19, 2021 in Investments -
Where is the housing market headed in 2021?
After the worst economic downturn in decades, further dampened by the recent tightening of lockdown restrictions in response to the second wave of the pandemic and the recommencement of load shedding, economic growth – while admittedly coming off a low base – is still widely expected to show some positive growth of around 3% this
January 19, 2021 in Property & Real Estate -
Bahrain attracts $885m direct investments despite Covid impact
Bahrain Economic Development Board chief says investment momentum continued from 2019 Source link
January 19, 2021 in Business News -
How the pandemic has impacted Beirut International Airport
New figures reveal a 71.7% slump in passengers during 2020 compared to the previous year Source link
January 18, 2021 in Business News -
Experts predict repo rate will hold
BER chief economist, Hugo Pienaar, is the only panellist forecasting a rate cut. He thinks the bank will decrease the rate by 25bps, but is in favour of a deeper 50bps cut. “With a benign inflation outlook, monetary policy has space to provide some moderate further stimulus to the economy at a time when fiscal
January 18, 2021 in Investments -
New year’s resolutions for (first-time) home buyers in 2021
If 2020 taught us anything, it’s that life can be unpredictable and while no one can say for certain how much things will change in the coming year, we can give you some sensible, tried and tested good advice if you’re thinking about purchasing a property for the first time in 2021. 1. Take a
January 18, 2021 in Property & Real Estate -
Private sector investment key in bridging Africa’s housing gap
On the eve of the UK Department for International Trade’s Africa Investment Conference, East African architecture and masterplanning firm FBW Group noted that private sector investment is key to solving East Africa’s mounting affordable housing challenges and the UK can play a leading role in turbo-charging the development drive needed. The conference, on 20 January,
January 18, 2021 in Property & Real Estate -
Will you get vaccinated? Arabian Business poll reveals strong response
Survey on LinkedIn revealed willingness to get vaccinated in the Gulf is higher than countries such as the USA and the UK, as coronavirus cases in the UAE nudged up to another record high Source link
January 17, 2021 in Business News -
Saudi to reopen Qatar embassy in the 'coming days'
The kingdom’s Foreign Minister Prince Faisal bin Farhan revealed that the diplomatic thawing of relations was moving forward at a press conference Source link
January 17, 2021 in Business News -
Dubai to give Expo 2020 taster with Q1 opening of thematic pavilions
Tickets go on sale as Terra – The Sustainability Pavilion is set to be the first to open to visitors from January 22 Source link
January 16, 2021 in Business News -
Daily coronavirus cases spike again on Friday, first time above 3,400
Ministry of Health and Prevention also announces that seven people have died from Covid-19 complications in the past 24 hours Source link
January 16, 2021 in Business News -
Jua Kickstarter Fund for African entrepreneurs doubles to R30m
The Jua Kickstarter Fund has doubled to $2m (R30m). The fund was launched by African industrialist Adam Molai in November 2020 with $1m available for African entrepreneurs. The increase in funding is from US-based angel investing and mentorship firm Simba Global Start-ups. Adam Molai, founder of Jua Kickstarter Fund | Image supplied Molai says the
January 15, 2021 in Venture Capital -
Re/Max Q4 2020 report reveals property market recovery to pre-pandemic levels
According to the Re/Max National Housing Report Q4 2020, South Africa’s real estate market has shown a remarkable recovery following the hard lockdown and the Deeds Office closure that occurred in the second quarter of 2020. Data from Q4 2020 reflects nearly the same levels of activity in the housing market as it had pre-pandemic.
January 15, 2021 in Property & Real Estate -
How Dubai defied Arabtec collapse to take global skyscraper crown in 2020
Dubai was the most prolific skyscraper-building city in the world during 2020, according to the Council on Tall Buildings and Urban Habitat Source link
January 15, 2021 in Business News -
Gulf's healthcare operators set to embrace Big Data to improve patient care, cut costs
Survey predicts healthcare analytics market in the MENA region will reach $1.49bn by 2024 Source link
January 14, 2021 in Business News -
UAE tourism figures downplay impact of UK's travel corridor u-turn
Ras Al Khaimah tourism chief, Emirates Festival of Literature organiser say closure of one market would have a big impact Source link
January 14, 2021 in Business News -
Wetherby Real Estate launches in London targeting Africa’s HNWI
Specialising in investment opportunities for high-net-worth individuals from Africa, the launch of Wetherby Real Estate was recently announced. The company sources and acquires luxury serviced accommodation in Prime Central London on behalf of global investors. Wetherby Real Estate has been launched by Barbara Chanakira, founder and CEO of Mayfair-based Eaton Property Consultants, another acquisition service
January 13, 2021 in Property & Real Estate -
What you should know about the amended South African Exchange Control Rules
On 4 January 2021, the South African Reserve Bank released Exchange Control Circular No. 1/2021 which provides for the long-awaited relaxation of the South African exchange control rules relating to “loop” structures and investments. As background, the Minister of Finance announced in the 2020 Medium Term Budget Policy Statement that the prohibition on “loop” structures
January 13, 2021 in Venture Capital -
UAE says to add more vaccination centres as virus cases hit new daily high
Daily virus cases hit 3,362 on Wednesday, the highest number since the outbreak of the coronavirus pandemic Source link
January 13, 2021 in Business News -
4 trends that will have a major impact on private equity in 2021
Amidst the general chaos of 2020, investors were hit hard. With economies around the world all but shutting down in March, activity ground to a halt. But as people found ways to work around the restrictions of the pandemic, businesses were able to resume operations and most asset classes began to pick up again, recover,
January 13, 2021 in Investments -
Manufacturing production down 3,5% in November
Manufacturing production decreased by 3,5% in November 2020 compared with November 2019, according to data from Statistics South Africa (Stats SA). The largest contributions to this decrease were made by the following divisions: • petroleum, chemical products, rubber and plastic products (-9,6% and contributing -2,1 percentage points); • food and beverages (-2,9% and contributing -0,9
January 13, 2021 in Manufacturing -
Young buyers fuel sectional title market in Mother City
After having been excluded from the property market by rising prices in recent years, the record-year low interest rates and the current granting of 100% bonds to first-time buyers has swayed more young people to opt for owning rather than renting. Image supplied This is according to Dave Burger, sectional title specialist for Lew Geffen
January 13, 2021 in Property & Real Estate -
Dubai ruler hails virus control measures despite UK u-turn on UAE travel
Sheikh Mohammed says the UAE has the world’s second best vaccination rate in the world Source link
January 12, 2021 in Business News -
2021 (property) resolutions your future self will thank you for
You’ll be forgiven for being hesitant to make resolutions for 2021, what with 2020 being the year of ‘Plans turned upside down!’ So how about skipping the usual “exercise more” or “spend less time on social media” and opt instead for making resolutions for your property. A property is the biggest investment most people are
January 12, 2021 in Property & Real Estate -
Dubai expects household consumption to rise 4% as vaccine rollout expands
Dubai Economy says recent data suggests increase in tourism and retail activity while DXB remains world’s busiest international airport Source link
January 12, 2021 in Business News -
Dubai private sector returns to growth in December but job cuts continue
IHS Markit Dubai Purchasing Managers’ Index shows a strong rise in business activity in December Source link
January 11, 2021 in Business News -
3 wealth management trends to watch in 2021
The Covid19 pandemic has been one of the greatest disruptors in living memory, causing major upheaval across all facets of our everyday life. Within the wealth management space, it has further acted to accelerate many of the changes that were already in the pipeline, seeing three major trends emerge as we enter 2021. Maarten Ackermann,
January 11, 2021 in Investments -
4 strategies to rethink investing in SMES
Last year proved that SMEs are the backbone of the South African economy. Yet, existing debt, lack of cash reserves, outdated financials, and an inability to operate during the national lockdown, forced almost half of South African small businesses to shut down. Kuhle Mnisi, operator investor, Secha Capital Within the SME space, investors play a
January 11, 2021 in Venture Capital -
Major retail operator closes as suppliers say they are owed 'millions'
Gulf Greetings General Trading LLC emailed suppliers on Friday saying it has closed down operations with immediate effect Source link
January 11, 2021 in Business News -
Improving productivity: A guide to being (not doing) more
Dr Ottilia Brown, clinical psychologist with The Lighthouse Arabia, looks at how to increase productivity without burning out Source link
January 10, 2021 in Business News -
Revealed: 5G speeds in the UAE named the fastest in the world
Global SpeedTest field research shows the UAE is world leader, ahead of Saudi Arabia and Norway Source link
January 9, 2021 in Business News -
Business conditions in Lebanon unlikely to improve in 2021, says economist
Lebanese businesses continued to cut staff numbers in December with the rate accelerating to the quickest since July Source link
January 9, 2021 in Business News -
UAE to open all borders to Qatar from Saturday
The UAE will open its borders to Qatar from Saturday, January 9, officials have confirmed following the AlUla peace accord earlier this week. Source link
January 8, 2021 in Business News -
Finding alpha in the age of Covid-19
In the age of the lockdown restrictions, I’m reminded of the quote by Socrates, who said that “the only true wisdom is in knowing you know nothing.” By embracing that notion, we can begin to accept that fundamental economic and investment theories no longer hold. Nema Ramkhelawan-Bhana, head of global markets research, Rand Merchant Bank.
January 8, 2021 in Investments -
America's darkest day since 9/11
I just watched a mob take over America’s Capitol, and it’s no mystery who is responsible Source link
January 7, 2021 in Business News -
US Congress rejects challenge to Biden's electoral votes in Arizona
Mob of Donald Trump’s supporters stormed the Capitol and interrupted the proceedings Source link
January 7, 2021 in Business News -
Qatar deal impact on Gulf economy 'should not be overstated'
Leading economist says major gains are likely for Qatar’s economy but are likely to be relatively slow to accumulate in the wider region Source link
January 6, 2021 in Business News -
Revitalising property markets through inner-city investment and refurbishment
South Africa’s property sector, in general, has shown poor performance during the Covid-19 pandemic. Property stocks have taken a significant hit, where retail and commercial office space have been hit hardest and even some industrial property holdings have been affected. And none of these markets are showing signs of recovery yet. Paul Jackson, CEO, TUHF
January 6, 2021 in Property & Real Estate -
There’s good news as well as bad for the property industry
Looking ahead, here is our forecast for South Africa’s property landscape in the year to come. Customer service Paul Stevens, CEO of Just Property Buyers, sellers, landlords and tenants will be looking for more value in the services that are offered to them. This will lead to an even more competitive business environment. Practitioners in
January 6, 2021 in Property & Real Estate -
UAE aims to vaccinate 50% of population by the end of Q1
More than 820,300 coronavirus vaccinations have been administered in the UAE so far Source link
January 5, 2021 in Business News -
Changing the tourism focus for a post-Covid world
RAK tourism chief Raki Phillips outlines his hopes and ambitions for 2021 Source link
January 5, 2021 in Business News -
Kuwait says two new oil fields have been discovered
Oil minister Mohammad Al-Fares hails achievement of Kuwait Oil Company as it faced coronavirus-related challenges Source link
January 4, 2021 in Business News -
Diversification helps workwear manufacturer weather pandemic
As we bid farewell to 2020, one thing has become clear: no business is immune to crises like the one that hit the private sector as a result of the Covid-19 pandemic. The situation has shaken some of South Africa’s oldest and most prolific businesses, resulting in downscaling, mass retrenchments and the closing of doors,
January 4, 2021 in Manufacturing -
Reopening borders 'vital' to Saudi's economic recovery from coronavirus crisis
Experts welcome return of international travel; Flydubai confirms flights to Dammam and Riyadh are now operating; Emirates to resume flights to Jeddah on Monday Source link
January 4, 2021 in Business News -
Saudi Arabia to reopen borders to international travellers
Relaxation of entry to the kingdom comes with strict health and safety guidelines Source link
January 3, 2021 in Business News -
Virtual currency Bitcoin passes $30,000 for the first time
Just 12 years old, Bitcoin has seen a meteoric rise since March, when it stood at $5,000 Source link
January 2, 2021 in Business News -
Oman mulls $4.2bn borrowing to plug fiscal gap amid Covid, low oil impact
Oman’s government is looking into borrowing that will cover 73% of the country’s OR2.2bn shortfall Source link
January 2, 2021 in Business News -
Revealed: sports dome to be added to Abu Dhabi's Al Maryah Island
Business and lifestyle destination unveils plans to add new recreational, leisure, and entertainment amenities in 2021 Source link
January 1, 2021 in Business News -
Watch Dubai and RAK's spectacular NYE fireworks from the comfort of your sofa
Dubai and Ras Al Khaimah are planning to finish 2020 with a bang despite coronavirus restrictions Source link
December 31, 2020 in Business News -
AfDB approves funding for mini-grid advancement in Africa
The African Development Bank (AfDB) earlier this month approved a $7m grant from the Sustainable Energy Fund for Africa (SEFA) for technical assistance in setting up the Africa Mini-Grid Market Acceleration Programme (AMAP), which aims to boost energy access in remote regions and enhance climate resilience throughout Africa. © Pedro Antonio SalaverrÃa Calahorra – 123RF.com
December 31, 2020 in Energy -
Dubai's hospitality sector eyes strong finish to 2020 after months of uncertainty
Increase in bookings for NYE 2020 fuelled by emirate’s coronavirus response measures, say F&B operators Source link
December 31, 2020 in Business News -
UK-UAE flight bookings slump 43% on strict virus lockdown
Despite initial optimum for the UK-UAE air traffic route, there has been an “immediate” plunge in flight bookings following Britain’s stay-at-home guidelines Source link
December 30, 2020 in Business News -
looking for the best energy solution for the rural poor
But what kind of electricity makes sense in rural Africa to make the most of available budgets? Over the past decade or so, a range of new off-grid solar products have emerged. They don’t run machinery, but they light rooms, power radios or TVs and charge mobile phones. They’re substantially cheaper than expanding the national
December 30, 2020 in Energy -
How a Kuwaiti architect overcame obstacles in a male-dominated industry
Hend Almatrouk says nothing can stop a woman from pursuing her goals as new campaign by Porsche highlights inspirational women Source link
December 30, 2020 in Business News -
Ras Al Khaimah keen to host NYE fireworks spectacular amid tourism recovery
Tourism chief Raki Phillips says important to mark the end of such a challenging year while adhering to Covid rules Source link
December 29, 2020 in Business News -
Emirates implements management changes to cope with 'challenging period'
COO of Dubai-based airline says changes will help stimulate demand Source link
December 28, 2020 in Business News -
AfDB approves Desert-to-Power technical support programme
The African Development Bank (AfDB) recently approved a Desert-to-Power (D2P) technical support programme that aims to advance the rollout of solar generation in G5 Sahel countries. The Desert to Power initiative intends to turn the Sahel region into a renewable powerhouse, harnessing its solar potential to create the world’s largest solar zone. Image source: Gallo/Getty
December 28, 2020 in Investments -
Luitingh and Associates appeal to creditors to join MTI liquidation application
Cape Town firm of attorneys Luitingh and Associates is appealing to all potential creditors to advise them of any claim against the Mirror Trading International (MTI) investment scheme. The appeal comes at a time when two high court applications for the liquidation of MTI were filed by investors unable to withdraw funds. Photo by Scott
December 28, 2020 in Investments -
Section 12J investments more beneficial than only their tax treatments
The government’s tax-incentive to boost economic growth – Section 12J of the Income Tax Act – gives investors more than a mere tax benefit. Investors and wealth managers advising their clients could diversify their portfolios by including private equity-like investments. As with any other decisions to allocate capital, investors should scrutinise the managers who hold
December 28, 2020 in Investments -
Oman launches Covid-19 vaccination campaign
Sultanate has recorded the second highest number of Covid-19 deaths in the Gulf after Saudi Arabia Source link
December 28, 2020 in Business News -
How snooping cyber-criminals could bring down a work-from-home CEO
Sebastien Pavie on why we’re likely to see a dramatic uptick in companies paying crypto ransoms in 2021 Source link
December 27, 2020 in Business News -
UAE healthcare major seeks to create more shareholder value
Dr Azad Moopen wants to focus more on long-term growth plans for the company Source link
December 26, 2020 in Business News -
Deals struck to attract global brands to new Sharjah shopping mall
City Centre Al Zahia, set to open in March, signs agreements with Azadea Group and Landmark Group to bolster retail offerings Source link
December 26, 2020 in Business News -
Dubai's Careem says first super app has amassed 48 million users
Users in the UAE are making an average of three transactions per week, says ride-hailing firm Source link
December 25, 2020 in Business News -
UK-UAE export credit deal set to 'significantly' boost trade corridor
Experts say reinsurance deal is set to lead to an influx of British companies exporting into the region Source link
December 25, 2020 in Business News -
How Beirut's Christmas markets offered hope amid economic, Covid gloom
Organisers say desire to support small businesses proved stronger than the challenge of holding event amid coronavirus pandemic Source link
December 24, 2020 in Business News -
West African solar startup secures $8.5m
Senegal-based startup, Oolu has secured $8.5-milliom in a Series B round of investment led by RP Global, an independent renewable energy developer, and several additional investors namely, Persistent Energy Capital, Shell-seeded impact investor All On, Gaia Impact Fund and DPI Energy Ventures. Featured image: Oolu, Facebook In an official press statement, Leo Schiefermueller, director of
December 24, 2020 in Venture Capital -
Lebanon headed towards 'failed state' without reforms, says IIF
Institute of International Finance urges action to prevent Lebanon lurching in same direction as Venezuela Source link
December 23, 2020 in Business News -
50,000 to be invited to first Dubai NYE celebrations hosted by Zoom
Emaar to collaborate with Zoom Video Communications to host New Year’s Eve celebrations live from Downtown Dubai Source link
December 23, 2020 in Business News -
Foreign investment in Saudi Arabia surges after coronavirus slowdown
New figures reveal over 300 international companies were granted investor licences during Q3, 96% up on previous quarter Source link
December 22, 2020 in Business News -
Oman joins growing list of countries to suspend flights amid new virus strain
Oman says it is closing its air, sea and land ports for a period of one week from early Tuesday morning Source link
December 21, 2020 in Business News -
AfDB approves funding for medium-scale independent power producers in SSA
The African Development Bank last week approved $15m from the Sustainable Energy Fund for Africa (SEFA) and $10m from the Clean Technology Fund (CTF) to advance the African Renewable Energy Fund (AREF) II’s projects in Sub-Saharan Africa. Image source: Gallo/Getty SEFA’s contribution will comprise a package of $10m in equity and a $5m reimbursable grant.
December 21, 2020 in Energy -
Dubai set to extend metro station naming right deals to bus stations
Dubai’s Roads and Transport Authority to initially offer naming rights to five bus stations Source link
December 21, 2020 in Business News -
Profitability of business travel to 'take a bludgeoning', says aviation expert
Saj Ahmad, chief analyst at UK-based StrategicAero Research, told Arabian Business the ‘novelty’ of travelling business class may take as long as ten years to transform back into a ‘necessity’ Source link
December 20, 2020 in Business News -
Dubai's Route 2020 metro extension to start operating on January 1
Dubai’s transport authority initial operational phase will cover four stations – Jebel Ali, The Gardens, Discovery Gardens and Al Furjan Source link
December 20, 2020 in Business News -
Revealed: how Gulf countries compare globally for handling the coronavirus crisis
The UAE has topped the Middle East rankings for the way it handled the impact of the coronavirus pandemic Source link
December 19, 2020 in Business News -
Saudi wealth fund targets $2.7trn assets amid rapid growth
$350bn Public Investment Fund is a key lever for Crown Prince Mohammed bin Salman to revive growth Source link
December 18, 2020 in Business News -
UAE hotel group Rotana sees return to pre-coronavirus trading levels by end-2021
CEO Guy Hutchinson describes Abu Dhabi as ‘real high point of the year’ despite economic tailspin caused by coronavirus Source link
December 18, 2020 in Business News -
UAE-Israeli consortium to snap up troubled Finablr for $1
Affiliate of Prism Group and Abu Dhabi’s Royal Strategic Partners will pay the nominal consideration and provide working capital Source link
December 17, 2020 in Business News -
Challenges, opportunities for manufacturing CFOs now and in the future
The Covid-19 pandemic has brought on massive changes to the manufacturing industry, which has had to adapt to new operating models, an evolving consumer market, and disruptions in supply chain processes, all while keeping the workforce safe and healthy. Integral to the success of a business in overcoming these challenges is the chief financial officer
December 17, 2020 in Investments -
First refinancing transaction for Bokpoort CSP concluded with R5bn deal
Located in the Northern Cape, the ACWA Power Solafrica Bokpoort Concentrated Solar Power (CSP) plant has achieved refinancing in a R5bn deal with its project financiers, led by Investec Bank. The project is part of South Africa’s Renewable Energy Independent Power Producer Procurement (REIPPP) programme. In May this year, the Department of Mineral Resources and
December 17, 2020 in Investments -
Dubai wealth fund takes control of developer Meydan
Investment Corporation of Dubai CEO says embarking on re of business strategy of Meydan, the builder of the emirate’s racetrack Source link
December 16, 2020 in Business News -
South Africa's biggest energy refinancing deal cuts power costs
ACWA Power Solafrica Bokpoort Concentrated Solar Power plant in South Africa’s Northern Cape province generates 50 megawatts Source link
December 16, 2020 in Business News -
15 years on, how Dubai Studio City has put the emirate on global movie map
Dubai Studio City has seen more than 4,000 productions with a total budget in excess of AED400 million over past three years Source link
December 15, 2020 in Business News -
Crypto comes of age in 2020
Despite volatile prices during 2020, cryptocurrency has withstood the Covid-19 stress test and emerged with new support from previous naysayers. Bitcoin, in particular is showing its mettle in the economic turmoil linked to the pandemic. Climbing Bitcoin price amidst turmoil The Bitcoin price burst through its all-time high of $20,000 at the end of November
December 15, 2020 in Investments -
Kuwait post-election cabinet has new finance, oil ministers
New parliament convenes on Tuesday amid what could be a battle for the post of speaker Source link
December 15, 2020 in Business News -
RSA-EU strategic partnership encourages and supports green economic recovery
Ambassador Riina Kionka, the head of the delegation of the European Union to South Africa, Ambassador Martin Schäfer, the German ambassador to SA, and Ambassador Aurélien Lechevallier, the French ambassador to SA, discuss the importance of investing in a green recovery for South Africa as well as the EU’s projects in South Africa. Source link
December 14, 2020 in Energy -
Air traffic between UK and Dubai to climb by a third in December
Bookings are double what’s been experienced in previous months, says Dubai Airports CEO Paul Griffiths Source link
December 14, 2020 in Business News -
#BestofBiz 2020: Property
Comment guidelines and disclaimer LEGAL DISCLAIMER: This Message Board accepts no liability of legal consequences that arise from the Message Boards (e.g. defamation, slander, or other such crimes). All posted messages are the sole property of their respective authors. The maintainer does retain the right to remove any message posts for whatever reasons. People that
December 14, 2020 in Property & Real Estate -
#BestofBiz 2020: Energy & Mining
What a year 2020 has been! So, we’ve curated the year’s most popular articles, most-read contributors and brand press offices with the most views on Bizcommunity’s Energy & Mining platform into our #BestofBiz2020 list to give you a comprehensive perspective on what’s happened. Read more… | Send to a friend Source link
December 14, 2020 in Investments -
#BestofBiz2020: Finance & Insurance
What a year 2020 has been! So, we’ve curated the year’s most popular articles, most-read contributors and brand press offices with the most views on Bizcommunity’s Finance & Insurance platform into our #BestofBiz2020 list, to give you a comprehensive perspective on what’s happened. Read more… | Send to a friend Source link
December 14, 2020 in Venture Capital -
GCC payments industry to leapfrog other economies in 2021
Payments made via Bahrain’s BenefitPay set to exceed $4bn this year Source link
December 13, 2020 in Business News -
Richard Mille showcases carbon gold
Two new timepieces underscore the brand’s commitment to innovation and craftsmanship Source link
December 13, 2020 in Business News -
MENA economic recovery set to be slowed by weak oil demand, says Fitch
Ratings agency says lower for longer oil prices could raise questions about the GCC’s long-term social and economic models Source link
December 12, 2020 in Business News -
Middle East airlines still waiting to see coronavirus rebound
Latest IATA figures show regional passenger demand was down by more than 86% in October compared to a year earlier Source link
December 11, 2020 in Business News -
All Arab-female TV show to throw spotlight on influencers' industry
ZerosJ Heroes reality drama takes four Arab females on a journey through the world of influencers Source link
December 11, 2020 in Business News -
Lebanon judge indicts PM, 3 ex-ministers over port blast: judicial source
Explosion at Beirut Port in August killed more than 200 people Source link
December 10, 2020 in Business News -
First Indian firms to seek nod for 100% ownership in UAE ventures after rule change
Chemmannur International, FreshToHome among first to take advantage of UAE’s foreign ownership rule changes Source link
December 10, 2020 in Business News -
Sustainability should be paramount in pension fund investment
There is little point in making provision for a comfortable retirement if the society and environment in which you live is untenable. Nor will you actually have a decent pension if the retirement industry doesn’t make sustainable investments with positive social and environmental impacts. The two are inextricably linked. Adam Bennot. senior associate, Alternative Investment
December 9, 2020 in Investments -
Get to know the formula to success
Discover fresh financial perspectives and leadership strategies for your financial success. Elmarie Coetzee Is it possible to ‘learn’ how to be successful? In Stephen R. Covey’s book, The 7 Habits of Highly Effective People, which has remained a best-seller for over 25 years. It suggests that you can learn habits to make yourself more effective.
December 9, 2020 in Investments -
Why the lure of the office is too strong for most UAE employees
Two-thirds of UAE workers say they are keen to return to the office full-time after coronavirus pandemic Source link
December 9, 2020 in Business News -
SA exports locally-produced sanitisers for R1.66bn
The local production of hand sanitisers in South Africa has contributed to saving lives and earning export revenues for the country. This is according to data on South African exports of hand sanitiser products released by Minister of Trade, Industry and Competition Ebrahim Patel on Tuesday. Credit: Sorapong via Pexels Between June and November 2020,
December 9, 2020 in Manufacturing -
Embattled billionaire BR Shetty, son Binay hire restructuring experts
Duff & Phelps says will support family efforts in dealing with financial liabilities related to exposures to NMC and Finablr debts Source link
December 8, 2020 in Business News -
Gas won't save SA's economy
The potential of recent gas finds has given rise to false claims that gas will generate economic prosperity for the country. The reality is that it will be at least a decade, possibly two, before we see any significant impact. In the meantime, the climate impacts will be huge, and we will lock ourselves in
December 8, 2020 in Investments -
5 factors to look out for before investing in a VC
Many entrepreneurs rely on investments from venture capitalists (VCs) to fund their growth. These are usually firms that rely on outside investors for the money they put into startups. Philani Sangweni But not all VC firms are equal. Just as they would for other investment vehicles, investors need to do their homework before committing cash
December 8, 2020 in Venture Capital -
First UAE nuclear power plant hits full power, to start commercial ops in early 2021
Emirates Nuclear Energy Corporation announces milestone as Unit 1 becomes the largest single source of electricity in the UAE Source link
December 8, 2020 in Business News -
ESG investment can help Africa’s economic recovery
Covid-19 has hindered Africa’s growth, demanding new approaches to economic development, and raising the focus on environmental, social and corporate governance (ESG) issues. Nigel Beck, executive head, sustainable finance, Standard Bank Group Even before Covid-19, the sustainable finance market was flourishing. In 2019, sustainable debt issuances reached a record high of $415bn globally – up
December 7, 2020 in Investments -
How a former Googler is targeting one million Gulf users with learning app
According to Scoodle’s CEO, Ismail Jeilani, the global coronavirus pandemic doubled the app’s metrics overnight Source link
December 7, 2020 in Business News -
Kuwaiti voters replace more than half of sitting parliament
None of the 28 women candidates were elected, including the only female member of the outgoing chamber Source link
December 6, 2020 in Business News -
Why Saudi oil giant Aramco is getting into sport sponsorship
As a F1 global sponsorship partner, Saudi Aramco hopes to influence the future of sustainable fuels, engines and mobility technology Source link
December 6, 2020 in Business News -
$2.6bn plan unveiled to revive Lebanon's fortunes after Beirut port disaster
European Union, the United Nations and the World Bank launch an 18-month Lebanon Reform, Recovery and Reconstruction Framework Source link
December 5, 2020 in Business News -
How Joe Biden might work with Saudi Arabia on regional issues
President of the Arab Gulf States Institute of Washington believes that the Biden team will overcome objections to work closely with Gulf kingdom on regional issues Source link
December 5, 2020 in Business News -
Kuwait's Floward makes European debut with London e-commerce launch
Online flowers and gifts delivery platform has launched in London, marking its first expansion outside of the Middle East region Source link
December 4, 2020 in Business News -
Saudi wealth fund said to eye $7bn loans for new investments
Sources say Public Investment Fund has approached international banks to participate in a US dollar revolving facility Source link
December 3, 2020 in Business News -
Africa’s power demand to keep rising between 4-5% per year
Total electricity generation in Africa stood at 870TWh in 2019, an increase of 2.9% from 846TWh in 2018. Africa’s electricity generation capacity has grown at an average of 4.8% per annum since 2008, compared to 2.7% globally. Nonetheless, Africa’s share of global electricity generation has been around 3% since 2000. Image source: Getty/Gallo In 2021
December 3, 2020 in Energy -
Mixed outlook for SADC property markets as impact of Covid-19 becomes clearer
Driven by the low interest rate and favourable mortgage lending climate, South Africa’s housing market is currently experiencing a post-lockdown bounce-back – especially in the low to middle-income suburbs, according to Samuel Seeff, chairman of the Seeff Property Group. For neighbouring SADC countries, however, its been a mixed bag, he says, as these real estate
December 3, 2020 in Property & Real Estate -
The forex roller coaster rider isn’t over yet
With the US elections still fresh in our minds, a Covid vaccine on the horizon and the South African economy still under significant strain, 2021 is going to be a revealing year. For anyone trading in forex at the moment, things are currently quite unclear. And with a lack of clarity comes volatility in the
December 3, 2020 in Investments -
Saudi Aramco listing fears unfounded as Tadawul eyes new IPO deals into 2021
Concerns that the $29bn Aramco deal would soak up all the available local liquidity for years have not been realised Source link
December 3, 2020 in Business News -
More Swiss investment in the UAE likely after law change, says foreign minister
Ignazio Cassis says he hopes Swiss firms can benefit from rule on full foreign ownership of onshore companies Source link
December 2, 2020 in Business News -
Unpacking ways to promote and protect investments in Africa
For many years the African continent has been presented with countless opportunities from potential investors around the world, which have equally exposed Africa to potential risks. However, the increasing interest in the continent has required much needed mechanisms that will unpack the fundamentals of protecting investments in Africa going forward. Above: Justice David Unterhalter, Keynote
December 2, 2020 in Investments -
YID-Textiles Programme to empower business-minded youth in SA townships
Non-profit organisation Technoserve has introduced a Youth Ideas Development (YID) Textiles Programme, aimed at empowering township-based youth and helping to revive South Africa’s textiles sector. ©Katechatporn Didkaew via 123RF “The YID-Textiles Programme will provide youth around Gauteng, Western Cape and KwaZulu-Natal townships with certified textiles training, entrepreneurship training and seed capital or experiential learning opportunities
December 2, 2020 in Manufacturing -
Bahrain's GFH buys school for special needs as $250m education portfolio builds quickly
Athena Private School for Special Education in Bahrain has a capacity for nearly 1,500 pupils Source link
December 1, 2020 in Business News -
Digital company acquisitions to face closer scrutiny by competition authorities
The Competition Commissioner during the Commission’s Annual Conference (in November 2020), noted that the Commission will take a “decisive and proactive stance to ensure the balance of economic forces favour a shift to facilitating entry and a more competitive digital economy”. Proposed changes for the industry may be far-reaching and may include a possible requirement
December 1, 2020 in Investments -
Virtual Manufacturing Indaba to gather experts from across Africa
Leading figures within sub-Saharan Africa’s manufacturing sector will convene virtually at the Manufacturing Indaba 2020 – taking place online between 9-10 December – to debate pressing issues impacting the region’s industrial landscape. Getty Due to safety concerns and restrictions resulting from the Covid-19 pandemic, the event is being held virtually, at no cost to attendees,
December 1, 2020 in Manufacturing -
Forex trading in the current climate
“With the US Elections still fresh in our minds; a Covid vaccine on the horizon and the South African economy still under significant strain, 2021 is going to be a revealing year. For anyone trading in forex at the moment, things are currently quite unclear. And with a lack of clarity comes volatility in the
December 1, 2020 in Investments -
What does the future of coffee look like? And, why should we care?
Why Alan Yau, the innovator behind Wagamama, Hakkasan and Yamabache, is currently fascinated by the business of coffee Source link
December 1, 2020 in Business News -
ESG moves beyond niche into the mainstream
Socially responsible investing has long been considered niche, but as the impact of investments is being measured beyond just financial returns, environmental, social and governance (ESG) considerations has shifted into the mainstream. Premal Ranchod, head of ESG research, Alexander Forbes Investments The numbers also point to increased attention in this space. Morningstar reported global fund
December 1, 2020 in Investments -
Contactless payments in a post coronavirus world
JK Khalil, cluster manager for Saudi Arabia and Bahrain at Mastercard, explains how the pandemic has accelerated the Gulf’s e-commerce journey Source link
November 30, 2020 in Business News -
Packaging during Covid-19 and beyond
Looking back, 2020 has been full of change – from switching our regular office jobs to remote work, and doing the bulk of our shopping online, the world is a very different place from what it was a year ago today. ©George Tsartsianidis via 123RF These major disruptions within our lives have also affected businesses.
November 30, 2020 in Manufacturing -
Africa poised to benefit from strong European backing in its recovery
The Covid-19 global pandemic may result in 2020 seeing the worst year of growth for the global economy in 40 years, but there remains “huge untapped potential” in the trade relationship between Southern Africa and Europe. Mosa Tshabalala – CEO of GDDA on assisting with businesses to invest in Gauteng This was the overwhelmingly positive
November 30, 2020 in Investments -
Uptick in SA commercial property sellers now turning to vendor loans
Fairly well known internationally, vendor loans (or vendor finance) are now growing in popularity in South Africa’s commercial property markets, according to Gary Palmer, CEO of Paragon Lending Solutions. Gary Palmer, CEO of Paragon Lending Solutions Palmer says his team has seen an uptick in the number of companies and individuals who want to take
November 30, 2020 in Property & Real Estate -
Dubai gets Arab Gulf's first, and perhaps last, coal power plant
Capacity at $3.4bn Hassyan coal plant to be increased from an initial 600 mega watts to 2,400 by 2023 Source link
November 30, 2020 in Business News -
Accountants have key role to play as industries rebuild post-coronavirus
Global economy is experiencing a once-in-a-generation shock, but it is a time when the accountancy profession must lean into its role as business advisers Source link
November 29, 2020 in Business News -
UAE's Masdar signs JV deal for energy from waste projects in Australia
Abu Dhabi-based renewables major inks agreement as about 27 million tonnes of waste is landfilled in Australia Source link
November 28, 2020 in Business News -
What's the truth about Lebanon's soaring inflation rate?
Official figures indicate Lebanon’s inflation rate rose to record high of 136% in October but top expert says it could be as high as 365% Source link
November 28, 2020 in Business News -
Beefmaster Group pumps R30m into Kimberley plant upgrades
South African beef company, Beefmaster Group, is investing more than R30m into equipment upgrades at its production plant in Kimberley. The upgrades will enable the company to scale up production and create approximately 30 new jobs. Credit: Beefmaster Group According to group CEO Louw van Reenen, the purpose of the upgrades is to ensure that
November 27, 2020 in Manufacturing -
Saudi Central Bank updates mandate as FinTech offer growth options
Fundamental operating principles of central bank are changed for the first time in more than 60 years Source link
November 27, 2020 in Business News -
Wierzycka hits out at large asset managers for foreign investment roadblock
Large asset management firms protecting their turf are behind the abrupt suspension of the National Treasury circular allowing higher ratio of offshore investments for pension funds, says Sygnia Investments chief executive officer Magda Wierzycka. Magda Wierzycka, CEO, Sygnia Investments Earlier this week, National Treasury issued a joint statement with the South African Reserve Bank (Sarb)
November 27, 2020 in Investments -
How GCC investor confidence has recovered after Q2 coronavirus hit
Iridium Advisors’ research shows Saudi Arabia investor sentiment recovered the most by 32 points Source link
November 26, 2020 in Business News -
Will Regulation 28 be amended to accommodate Sarb’s announcement on ETFs?
On 29 October 2020, the South African Reserve Bank (Sarb) published an exchange control circular (Circular 15/2020) which in effect reclassifies all remaining foreign debt and derivative instruments as well as exchange traded funds (ETFs) referencing foreign assets, that are inward listed on a South African exchange and are traded and settled in rand, as
November 26, 2020 in Investments -
The importance of perspective in the current market
Cash has outperformed all other local asset classes, including equities, for an extended period. In equity markets, we have seen a similar (if less pronounced) kind of abnormality play out, with a narrow subset of stocks dominating overall market returns as the rest of the market languishes in neglect. Anet Ahern, CEO, PSG Asset Management
November 26, 2020 in Investments -
Immerse yourself in the Waldorf Astoria, Ras Al Khaimah
The towering grandeur of this palace by the sea, some 60 minutes from Dubai, is simply titanic Source link
November 26, 2020 in Business News -
Buy local this festive season, for the sake of SA’s economy
According to Proudly South African, consumers who loosen their purse strings during the upcoming holiday season and buy local instead of imported products could help improve South Africa’s economic outlook by making a dent in the R1.1tn per annum presently spent on imports. At the same time, they would be contributing to developing a stronger
November 25, 2020 in Manufacturing -
Prevention is better than a cure!
The world is currently experiencing one of the worst health pandemics since the Spanish Flu in 1918. Not only has this had an impact on the health infrastructure of many countries, but it has resulted in economic turbulence in many markets with the looming potential of a global economic downturn if recovery efforts are not
November 25, 2020 in Venture Capital -
How improved regulation is playing key role in Bitcoin revival
ADGM senior exec says Abu Dhabi has seen uptick in registrations of fintech businesses during the coronavirus pandemic Source link
November 25, 2020 in Business News -
Commercial real estate and the endless quest for yield
Returns (or yields) determine the value of a commercial property, with the general rule of thumb being the lower the price of purchase in relation to the rental, the higher the yield. John Jack, CEO of Galetti Corporate Real Estate Simply put, the yield is calculated by taking your annual net rental income received from
November 25, 2020 in Property & Real Estate -
Several contributing factors set to potentially see property market through these tough times
After last month’s bleak Medium-Term Budget Policy Statement by finance minister Tito Mboweni, South Africans are settling in for a long and uncertain road to economic recovery. There’s no doubt that our country is in a tough financial position. However, it’s positive to see the government taking responsibility and looking to its spending to address
November 24, 2020 in Property & Real Estate -
3 ways ERP helps manufacturers do more with less
Anton Oosthuizen Subsequently, ERP has become the backbone of most manufacturing concerns, giving manufacturers instant, real-time visibility into their entire business – from shop floor to top floor. It boosts productivity and efficiency, easily adapts to new manufacturing methods and evolving business strategies, and automates and stores business transactions and data in one central place.
November 24, 2020 in Manufacturing -
Twyg Sustainable Fashion Awards 2020 winners list
The winners of the second annual Twyg Sustainable Fashion Awards were announced on Thursday, 19 November during a ceremony at Rewoven’s recycling textile warehouse in Cape Town. The event was co-hosted with Future of Fashion, a Rewoven initiative. Changemaker Award winner Lara Klawikowski with Twyg’s Jackie May and Country Road’s Elouise Brink and Sylvia Tekanyo
November 23, 2020 in Manufacturing -
SA moves further into junk status
Two out of the three global ratings agencies blamed the Covid-19 pandemic and the effects of lockdown on South Africa’s economy for further downgrading the country’s investment status. Finance Minister Tito Mboweni Moody’s moved South Africa’s long-term foreign and local currency debt ratings from Ba1 to Ba2, with a negative outlook. The agency said the
November 23, 2020 in Investments -
Saudi Arabia's Acwa Power set to raise $1bn in sukuk sale
Sukuk to be used to help fund Acwa’s share of an $8bn acquisition of gasification and power assets at Jazan Source link
November 23, 2020 in Business News -
From air to land to sea: Watches for every environment
With cooler climates finally here in the UAE, it’s time to embrace the best of outdoor adventures. What better way to do so than with timepieces designed to go with you from high altitude to beneath the ocean waves Source link
November 22, 2020 in Business News -
Saudi Arabia opens G20 with global call to overcome coronavirus crisis
Virtual forum set to be dominated by efforts to tackle the coronavirus pandemic and the worst global recession in decades Source link
November 21, 2020 in Business News -
Why Emirates remains 'well armoured' to weather coronavirus crisis despite huge losses
Top aviation analyst says Emirates is being ‘proactive’ in trying to safeguard its future amid challenging times Source link
November 21, 2020 in Business News -
Saudi wealth fund raises stake in energy firm ACWA ahead of IPO
Public Investment Fund increases holding in ACWA Power International to 50% ahead of an initial public offering Source link
November 20, 2020 in Business News -
Interest rate disappoints, but South Africans will buy property this festive season
The decision by the South African Reserve Bank (SARB) to retain the repo rate at 3.5% (home loan base rate at 7%) is disappointing and out of step with the economy. A rate cut would have provided a vital business and consumer boost ahead of the busy retail and holiday season, freeing up cash to
November 20, 2020 in Property & Real Estate -
Low interest rate, realistic pricing sustaining buoyant property market
As anticipated, the Monetary Policy Committee (MPC) kept the repo rate on hold at its meeting this week. While interest rates have already been reduced by 300 basis point for the year to date, to a near 50-year low of 3.5%, several analysts argued that there was in fact room for a further rate cut
November 20, 2020 in Property & Real Estate -
Heineken keeps SA Investment Conference 2019 promises
After experiencing tremendous growth between 2015 and 2019, which saw the brewer become the second biggest player in the local market, Heineken South Africa announced a R1.6bn local investment at the 2019 South Africa Investment Conference. This amount was earmarked for a number of projects, most notably the extension of its brewery facility in Sedibeng.
November 20, 2020 in Manufacturing -
Saudi's $20bn Diriyah Gate on schedule to attract 'millions' of visitors
CEO of the Diriyah Gate Development Authority says waiting for green light on launching events amid coronavirus crisis Source link
November 19, 2020 in Business News -
SABS appointed as test house for World Rugby equipment
The governing body for international rugby, World Rugby, has appointed the South African Bureau of Standards (SABS) as the first Test House in the southern hemisphere to test padded clothing against the requirements of World Rugby’s Regulation 12. World Rugby requires that manufacturers successfully test their products against the specifications before it can be used
November 19, 2020 in Manufacturing -
Lack of investment could scupper Africa’s SDG goals
Africa is not getting the investment needed to help the world meet the United Nation’s (UN’s) Sustainable Development Goals (SDGs) by 2030. Sunil Kaushal, regional CEO, Africa & Middle East, Standard Chartered. A survey conducted between July and August 2020, amongst a panel of the world’s top 300 investment firms with total assets under management
November 19, 2020 in Investments -
The role of blockchain in Africa’s energy transition
Blockchain is expected to play an essential role as African countries transition towards a distributed, digitised, and decentralised power system. Chanda Nxumalo, director, Harmattan Renewables The increasing volumes of embedded renewable generation, such as wind and solar PV, have led to a reduced reliance on centralised power sources and energy grids. In doing so, this
November 19, 2020 in Energy -
Women can lead the way in a post-coronavirus 'she-covery'
Pre G20 discussion says a global recovery cannot be conceived of without women being at the heart of the conversation Source link
November 19, 2020 in Business News -
Saudi women blazing a trail is now the norm as the G20 focuses on empowerment
Jochem-Jan Sleiffer, president, Middle East, Africa and Turkey, Hilton discusses the transformation taking place on the ground in Saudi Arabia Source link
November 18, 2020 in Business News -
Energy and infrastructure: The African economic multiplier
Forward thinking investors and entrepreneurs in the African energy sector will deliver significant downstream benefits for the continent in the coming years. Bhavtik Vallabhjee, head: power utilities and infrastructure, Absa Corporate and Investment Banking While there has been much focus on energy programmes in Africa recently, we need to ensure that the narrative is not
November 18, 2020 in Investments -
Greater investment needed in Africa to meet UN SDGs 2030 deadline
The survey found that: Only 3% of their AUM is invested in Africa; Lack of investment in emerging markets puts the chances of meeting the 2030 SDG deadline at risk; Of those already investing in Africa, 93% say they will likely increase their investment in the future. Emerging markets are seeing a massive shortfall in
November 18, 2020 in Investments -
Sir Martin Sorrell talks US-China tensions, coronavirus and Joe Biden
Top British businessman talks to Arabian Business ahead of the G20 Summit that takes place in Saudi Arabia next weekend Source link
November 18, 2020 in Business News -
Saudi wealth fund cuts holdings in US stocks by $3bn
Public Investment Fund cuts its US holdings to $7bn but holds on to $2.7bn stake in Uber Source link
November 17, 2020 in Business News -
How Dubai is becoming more transparent to attract real estate investors
Dubai climbs the Global Real Estate Transparency Index after launching official residential index Source link
November 16, 2020 in Business News -
Pros and cons of renting vs buying as tenants reconsider their priorities
While many – particularly the millennial generation – chose to travel and live more ‘freely’ in the past, priorities have since changed, says Grant Smee, property investor, entrepreneur, and MD for Only Realty. Driven by attractive interest rates and more lenient loan criteria, tenants now have their sights firmly set on owning a home. Image
November 16, 2020 in Property & Real Estate -
Will SA’s short-term insurance industry weather the Covid-19 storm?
Since March 2020, the Covid-19 pandemic has been negatively impacting economies, affecting supply chains and challenging industries globally. The global short-term insurance industry has not been spared, with the sharpest economic contraction since the Great Depression of the 1930s, predicted to result in a significant decrease in demand for short-term insurance in 2020. However, the
November 16, 2020 in Investments -
Unpacking the macro property risks in SA’s 3 major provinces post-lockdown
Earlier in the year, we discussed the three major provincial regions’ (Gauteng, KZN and Western Cape) property markets’ ability to handle the major economic shock emanating from the coronavirus-related lockdowns. In order to handle such a shock, the financial and structural health of the market is important. For signs of such health we looked at
November 16, 2020 in Property & Real Estate -
Abu Dhabi expands freelance licences in bid to boost economy
Licences will allow UAE citizens, residents and non-residents to practice around 48 economic activities Source link
November 16, 2020 in Business News -
Red Hat: 'GITEX 2020 is the perfect platform to introduce new innovations to the market'
Adrian Pickering, Regional General Manager, EMEA, Red Hat, looks at the issues affecting businesses in the region, and explains why attending GITEX Technology Week 2020 is so important for his company Source link
November 15, 2020 in Business News -
Revealed: how the UAE's $672bn nation brand compares globally
UAE’s brand value is boosted by initiatives such as its mission to Mars, the normalisation of ties with Israel and Expo 2020 Dubai – report Source link
November 14, 2020 in Business News -
How Abu Dhabi International plans to improve the air passenger experience
Abu Dhabi International Airport is trialling a new enhanced Smart Travel system with some Etihad Airways passengers Source link
November 14, 2020 in Business News -
Remote working trend triggers spike in KZN North Coast semigration
According to Vernon Vogt, principal of Jawitz Properties North Coast, Covid-19’s impact on how we live, work and play has been particularly felt on the KwaZulu-Natal North Coast, with a spike in semigration interest in the area. Image supplied “The KZN North Coast has seen as much as 60% of buyers for new off-plan developments
November 13, 2020 in Property & Real Estate -
Green industries to aid SA’s economic recovery
The Department of Environment, Forestry and Fisheries has published the regulatory framework for extended producer responsibility (EPR) schemes as part of government’s effort to contribute towards the economic recovery plan. “These EPR schemes are part of the Reconstruction and Economic Recovery Plan recently announced by the president as key contributors towards green economy initiatives,” the
November 12, 2020 in Manufacturing -
How the profile of typical property investors in SA has been turned on its head
A few years ago, the typical property investor in South Africa was male and between the ages of 30 and 40, but the latest figures reveal a significant change in who is investing in property in South Africa. Young, black and female – it is now young women who are driving the investment market. “The
November 12, 2020 in Property & Real Estate -
Dubai said to seek buyer for airport cooling operations
Sources say Standard Chartered has been hired for the transaction which could be valued at around $750m Source link
November 11, 2020 in Business News -
Meaningful action urgently needed to clean up the energy system
As we add impetus to the global move to a cleaner, more sustainable energy system, perhaps the greatest obstacle we face is the enormous financing requirement that this step change in our economies will face. John Green, chief commercial officer, Ninety One Experts like the Climate Finance Leadership Initiative tell us that the financing required
November 11, 2020 in Investments -
Lightstone data reveals the age groups dominating property investment in SA
According to property data analytics provider Lightstone, around 40% of multiple residential property owners in South Africa fall between the ages of 36-49 years, while 38% of multiple property owners fall between 50-64 years. Holiday homes are included in the investment property category. As demonstrated in the above graph, Generation Xers – those born between
November 11, 2020 in Property & Real Estate -
What a terrible, horrible, no good, very bad year has taught us
After a year in which the world has been hammered by a deadly pandemic, communities ripped by police brutality, plunging global growth, the loss of hundreds of millions of jobs, protests and corporate collapses, 2020 has reset the bar on what Queen Elizabeth termed an annus horriblis in 1992. Dr Adrian Saville, chief executive officer,
November 11, 2020 in Investments -
Board of Dubai's Arabtec to hold further liquidation talks on Thursday
Construction giant is seeking to meet an end of November deadline set by shareholders to submit the liquidation application Source link
November 11, 2020 in Business News -
Can the G20 help to shape Saudi Arabia's economic future?
While Saudi Arabia may be unable to welcome global visitors in person to this year’s G20, opportunities remain for King Salman Bin Abdulaziz Al Saud to back up his strong year as president by showcasing the kingdom to the world Source link
November 10, 2020 in Business News -
Hard and fast rules a good property investor should never ignore
With the interest rate at all-time low, and the market geared to favour buyers, now is an ideal time to consider building on a property portfolio, says Giel Viljoen, principal at Leapfrog Stellenbosch. He shares some hard and fast rules that seasoned investors never ignore when looking to add to their property portfolio. Giel Viljoen,
November 10, 2020 in Property & Real Estate -
Why tech companies should open offices in small towns, villages
Tech companies and workers have for a while been eyeing smaller cities to escape the exorbitant real estate costs, manic lifestyles, and endless traffic jams in traditional tech hubs. Now is the right time for this trend to pick up as Covid-19 has induced massive reverse migration with employees moving back to their homes, closer
November 10, 2020 in Property & Real Estate -
Dubai expat vows to keep up pressure on UK over UAE flight rules
Petition to include the UAE on list of UK travel corridors currently stands at more than 21,000 signatures Source link
November 9, 2020 in Business News -
Why asset allocation is the most important contributor to long-term returns
Stories are often enthusiastically shared around the dinner table about who has picked a winning stock or how much value a share offers, but it’s very rare to hear mention of how an investor picked a winning asset class – or more to the point avoided a losing one (aside from the dreaded Bitcoin conversation,
November 9, 2020 in Investments -
Top trends set to impact SA’s commercial property market in 2021
Covid-19 simply accelerated many existing trends, like retail footprint reductions and the appeal of quality retail assets outside of big cities. Norman Raad, CEO of Broll Auctions 2020 may go down as the year when big cities around the world lost their appeal, both as a place to work and live. Gauteng businessmen and their
November 9, 2020 in Property & Real Estate -
How the UAE could benefit from pent up demand driving jewellery sales during Diwali
The UAE is the second largest gold exporter to India after Switzerland Source link
November 9, 2020 in Business News -
Etihad takes steps to become mid-sized carrier to weather coronavirus storm
New operational model will result in a number of changes to the executive leadership team Source link
November 8, 2020 in Business News -
Joe Biden declared US election victor despite Trump protests
Donald Trump has refused to concede and has vowed to fight the results of the US election Source link
November 8, 2020 in Business News -
Why Formula 1 in Saudi Arabia is not just a race, it's part of a journey
As it is confirmed that first-ever Saudi Arabian Grand Prix will take place in Jeddah next year, Prince Khalid bin Sultan Al Faisal Al Saud, president of the Saudi Arabian Motor Federation, speaks exclusively to Arabian Business Source link
November 7, 2020 in Business News -
How Arab and Muslim-Americans may have helped Biden win Michigan
Polls show Muslim-Americans voted in record numbers in this week’s still-contested US election Source link
November 6, 2020 in Business News -
Using business as a catalyst for positive social change
Derek Thomas The Vumela Fund has announced the provision of a significant debt facility to Letsema Consulting and Advisory, positioning Letsema to take advantage of growth opportunities, furthering their significant economic and social impact in South Africa. Letsema, founded in 1996, is a 100% black-owned management consulting firm at the heart of a diversified investment
November 6, 2020 in Venture Capital -
Lowest prime rate in decades driving tenants towards home ownership
Currently at 7%, the prime rate is at its lowest level in decades, driving more South African tenants to consider property ownership. PayProp head of data and analytics Johette Smuts cautions, however, that while real estate is a much desired asset, it is important to remember that home ownership is a long-term commitment, often going
November 6, 2020 in Property & Real Estate -
Trends in fund domiciliation and capital raising
New research shows that the choice of fund domiciliation has become an increasingly salient issue for investors and fund managers, and that there are still enormous opportunities for driving capital in Africa. Sandton, South Africa’s financial hub 123rf.com The objective of the report, South African Fund Managers: Trends in Fund Domiciliation and Capital Raising is
November 6, 2020 in Investments -
Isuzu SA named winner of Overall Manufacturer of the Year award
Isuzu Motors South Africa (Imsa) was named the winner of the Overall Manufacturer of the Year award at the recent 2020 Southern African Vehicle Rental and Leasing Association (Savrala) Manufacturer of the Year (MOTY) Awards. Imsa scooped the Gold Award through the attainment of the highest results in both the leasing and the rental categories,
November 6, 2020 in Manufacturing -
Middle East airlines see 90% slump in September passenger demand
Regional airline capacity and load factor also sink as coronavirus continues to impact the aviation industry Source link
November 6, 2020 in Business News -
Tuffy teams up with WWF SA to drive plastic waste awareness
South African packaging manufacturer Tuffy has partnered with WWF SA to drive education, awareness and behaviour change around plastic waste. South Africa’s Department of Environment, Forestry and Fisheries has identified the country’s ‘green economy’ as a sector that could contribute to economic recovery from the devastating impact of Covid-19. The negative effect plastic waste is
November 5, 2020 in Manufacturing -
How coronavirus has changed the construction industry for the better
Pandemic has accelerated the adoption of technology, boosting efficiences in the construction sector, says expert Source link
November 5, 2020 in Business News -
Abu Dhabi to update coronavirus rules for entering emirate from Sunday
Abu Dhabi Emergency, Crisis and Disasters Committee’s update obliges residents and visitors to undergo additional tests in the emirate based on their period of stay Source link
November 4, 2020 in Business News -
What entrepreneurs should know before approaching a VC for funding
As any South African venture capitalist (VC) will tell you, just keeping up with all the emails from entrepreneurs asking for funding can be a full-time job in and of itself. Unfortunately, even if we reply to every email, we have to turn down most of those applications. Philani Sangweni, managing partner at Entrepreneurs for
November 4, 2020 in Venture Capital -
US election uncertainty rattles markets
Global markets will be wildly rattled by the uncertainty of the US presidential election, but investors should sit tight and not reposition yet. As the drama of the closely run race to the White House plays out, and President Donald Trump claiming victory – even before all votes have been counted – branding the election
November 4, 2020 in Investments -
Energy resources can spark Africa’s economic growth
Despite the Covid-19 pandemic, not all of the economic news in Africa has been negative. We continue to see promising developments. Look at Uganda’s oil and gas industry. Following multiple petroleum discoveries in Uganda’s Albertine Graben, foreign investments there have reached nearly $20bn. The resulting projects include a refinery being built by the Uganda National
November 4, 2020 in Investments -
Why 2020 does not compare to the 2008 housing market crash
When the national lockdown was first announced at the end of March, the real estate industry braced itself for another housing market crisis similar to that of the 2008 crash. Unprecedently, the market has bounced back and has shown very few similarities to that of the crash twelve years ago. Adrian Goslett, regional director and
November 4, 2020 in Property & Real Estate -
Webinar: Post-pandemic opportunities in packaging
To mark the week in which Propak Cape 2020 would have taken place had it not been postponed due to Covid-19, industry experts shared insights around the latest packaging trends and technologies during a Propak Cape Connect ‘Opportunities in Packaging in the New Normal’ webinar. The webinar was open to all interested parties free-of-charge and
November 4, 2020 in Manufacturing -
Investing smart in healthcare and paying it forward – join our vital webinar today
The first of a three-part special webinar series hosted by Arabian Business will investigate how investing in innovation can provide a way forward for healthcare systems tested by Coronavirus Source link
November 4, 2020 in Business News -
Lebanon's PM urges central bank to hand over documents for audit
Alvarez and Marsal has been denied access to key documents for a forensic audit of the Bank of Lebanon as part of measures towards reforms Source link
November 3, 2020 in Business News -
Radisson debuts fourth brand in SA
The Radisson Hotel Group has announced the debut of its fourth brand in South Africa, the upscale Radisson, with the opening of Radisson Hotel & Convention Centre, Johannesburg, O.R. Tambo. This new addition further strengthens the group’s presence in one of its key African markets and brings the South African portfolio to 16 hotels in
November 3, 2020 in Property & Real Estate -
Gold Pack Awards 2020 showcases SA’s best packaging solutions
The winners of this year’s Gold Pack Awards were announced during an online ceremony last week. Established in 1974, the annual competition is organised and presented by the Institute of Packaging SA and is regarded as the premier event for South Africa’s packaging industry. The Gold Pack Awards promote leading design innovation in the packaging
November 3, 2020 in Manufacturing -
Dubai Islamic Bank completes Noor Bank integration to create $81bn giant
DIB’s group CEO says banking integration firmly cements Dubai’s position as the epicentre of the global Islamic economy Source link
November 3, 2020 in Business News -
Housing deficit, pandemic, recession, inflation
Real estate has become a global asset class and, as a developing nation, the Nigerian real estate market continues to evolve at an impressive pace. This is owing to Nigeria’s rapid population growth as well as the upward surge in the emergence of a more energetic, goal-driven, and technology-enlightened young working population. Noah Ibrahim, CEO,
November 2, 2020 in Property & Real Estate -
Dubai payment gateway firm offers e-commerce service to SMEs
TelrShops launched as SMEs struggle to compete in a sector that has seen rapid growth during the global coronavirus pandemic Source link
November 2, 2020 in Business News -
Key macro impacts of government finance on commercial property market
In the recent Medium-Term Budget Policy Statement (MTBPS), National Treasury laid out its GDP (gross domestic product) growth projections to 2023. GDP growth is forecast to decline by -7.8% in 2020, before “partly recovering”, growing 3.3% in 2021, 1.7% in 2022 and 1.5% in 2023. This implies that the level of GDP (the most popular
November 2, 2020 in Property & Real Estate -
RMB announces brand refresh
Rand Merchant Bank (RMB) has announced an investment in its brand – recently valued at R4bn by Brand Finance – to align with its evolved business strategy and a rapidly advancing digital business environment. “A lot has happened since our last brand refresh in 2006, both in terms of our operating strategy and the business
November 2, 2020 in Investments -
SAIBPP welcomes commitment to invest in housing infrastructure
Following finance minister Tito Mboweni’s 2020 Medium-Term Budget Policy Statement, the South African Institute of Black Property Practitioners (SAIBPP) has welcomed the commitment to invest in housing infrastructure and the increasing support for moderate to low-income workers with the subsidies to impact social housing. Finance minister Tito Mboweni. Image source: Flickr/GovernmentZA “We believe this will
November 2, 2020 in Property & Real Estate -
Saudi tourism megaproject near to closing $3.7bn loan
So far the Red Sea Development Co. has awarded $1.87bn of contracts and plans to award a total of $4bn by the end of the year Source link
November 1, 2020 in Business News -
UAE forms new committee to ensure business continuity amid coronavirus impact
National Covid-19 Crisis Recovery Management and Governance Committee is formed as UAE forecasts 5.2% economic contraction in 2020 Source link
November 1, 2020 in Business News -
New car sales plummet in Lebanon putting dealerships at risk
Automobile Importers Association warns worse is to come after new car sales slump by 74% so far in 2020 Source link
October 31, 2020 in Business News -
India complains to Saudi Arabia over G20 banknote
Foreign ministry in New Delhi expresses ‘serious concern’ over a new SR20 note issued to mark Saudi Arabia’s presidency of the powerful G20 Source link
October 30, 2020 in Business News -
Tiger Brands concludes sale of meat processing businesses
Food producer Tiger Brands has concluded the sale of its value-added meat processing businesses to Silver Blade Abattoir, a wholly-owned subsidiary of poultry group Country Bird. Tiger Brands lists the Enterprise, Renown, Bokkie and Miele-Kip brands under its value-added meat products category. The sale to the Country Bird subsidiary includes Tiger Brands’ processing units in
October 30, 2020 in Manufacturing -
How online higher education is opening doors for Arab youth
Remote learning widens access to university degrees for students who wouldn’t have been able to afford quality higher education Source link
October 30, 2020 in Business News -
Are prescribed assets bad for the country?
The short answer is yes, but it is a little more complicated than that, as there could be benefits too. Contrary to popular perception, prescribed assets are not a process by which the government takes a portion of your retirement funds, which decreases the value. Instead, it is a mandatory requirement for an institution (most
October 30, 2020 in Investments -
Why the audit of Lebanon's central bank has ground to a halt
Auditor Alvarez & Marsal is unable to complete its investigation because it is being denied access to nearly 100 documents Source link
October 29, 2020 in Business News -
Why a recession is actually a good time to buy property
Now on Level 1 lockdown, it is hopeful that South Africa is on the path to economic recovery, however, there is still some way to go, with the economy anticipated to shrink by 7.8% this year. In terms of the property sector, the knock-on impact is that buyer confidence is low – something that cannot
October 29, 2020 in Property & Real Estate -
All about creating confidence, positive sentiment in our economy
The minister of finance Tito Mboweni hit the nail on the head during the Medium-Term Budget Policy Statement (MTBPS) when he said that it is not only investors who need confidence, but also the average South African. Dr Andrew Golding, chief executive of the Pam Golding Property group Confidence, and within that the key ingredient
October 29, 2020 in Property & Real Estate -
Abu Dhabi launches new licences to boost foreign investment
Foreign Direct Investment Licences will enable investors in many sectors to hold 100% ownership of businesses in Abu Dhabi Source link
October 29, 2020 in Business News -
How to invest your money during the pandemic
Image credit: Damir Spanic on Unsplash For investors around the globe, one of the biggest transitions has been learning to adapt the way that they invest during unprecedented and decidedly unstable times. Investors who have always enjoyed a strong sense of stability in their investment approach have since been forced to realign with the way
October 28, 2020 in Investments -
Kuwait cuts some rates to ease currency and coronavirus pressures
Central bank has also said it would keep the discount rate at 1.5% Source link
October 28, 2020 in Business News -
#MTBPS2020: A tough balancing act
Finance Minister Tito Mboweni faces a tough juggling act this afternoon, when he presents the 2020 Medium Term Budget Policy Statement (MTBPS) in Parliament. Finance Minister Tito Mboweni The country might see tough austerities being imposed due to the country’s recent dramatic deterioration in finances, says Dr Azar Jammine, Econometrix (Pty) Limited director and chief
October 28, 2020 in Investments -
Research key to decision-making in currently ripe property market
Despite the impact of Covid-19 and the tightening of economic activity, property remains a sound investment, according to Lightstone’s Esteani Marx who at the recent Virtual Property Show emphasised the need for thorough research in a market that was increasingly difficult to predict. Marx noted that greater activity in certain coastal locations is creating new
October 28, 2020 in Property & Real Estate -
Energy use set to peak in 2032 as industry adapts to lower carbon future
ADNOC senior exec says keen to play a leading role in the de-carbonisation story while maintaining committed to shareholders Source link
October 27, 2020 in Business News -
FinCEN leak highlights need for proactive KYC in AML processes
Financial sector due diligence and compliance with anti-money laundering regulations are back in the spotlight with the release of the FinCEN files in September 2020 – the latest in a string of leaks over the past five years that have exposed secret deals, money laundering and financial crime. The more than 2,500 files representing approximately
October 27, 2020 in Investments -
SA REIT repositioning strategy sees launch of institutional, research committees
Representative association for South Africa’s listed property sector SA REIT is rolling out a repositioning strategy and additional capacity following its 2020 annual general meeting when the decision was taken to grow the body’s responsibilities, activities and services to members as well as a wider stakeholder group. The transition is also on the back of
October 27, 2020 in Property & Real Estate -
“An individual cannot save SA”
You know a country is in deep trouble when you think an individual can save it. This is the view of Moeletsi Mbeki, political analyst, author and entrepreneur, speaking at the latest Think Big webinar, hosted by PSG. He cautioned strongly against the tendency of South Africans to think there is a saviour who could
October 27, 2020 in Investments -
Aldar eclipses Emaar as UAE's biggest developer after $8.2bn deal
Stock market rally for Abu Dhabi-based Aldar lifts company value to about $5.4bn, ahead of the Burj Khalifa builder Source link
October 27, 2020 in Business News -
Prospect of new SA design qualification excites furniture industry
A new Furniture Design Qualification was announced by Gugu Motlanthe during the 2nd Annual Furniture Sector Forum that recently took place online. The qualification was registered with the South African Quality Assurance Framework (SAQA) in May this year. Furniture Sector Forum 2019 According to Motlanthe, no one has a monopoly on education, and this dedicated
October 26, 2020 in Manufacturing -
Whistle-blowers in South Africa are treated as pariahs in spite of their moral courage
Shutterstock Data from the Gordon Institute of Business Science (GIBS) Ethics Barometer suggested that the country has a long way to go in dealing with ethical failures. Whereas 45% of respondents witnessed at least one of 18 types of misconduct – like bullying in the workplace or gender discrimination – over the past 24 months,
October 26, 2020 in Venture Capital -
Why UAE start-up Udrive is offering investment opportunities via crowdfunding
Pay-per-minute car rental service is opening up its business to the public in bid to inject fresh capital into the company Source link
October 26, 2020 in Business News -
Bizcommunity and NSP Consultants congratulate BizListing winners!
Congratulations to the SME companies who have won full-page BizListing entries in Bizcommunity’s business directory. There are still two BizListings up for grabs so click here to see if your SME is eligible to win! We are thrilled to announce that the applicants whose enterprises met all the requirements of the recent competition offered by donor
October 26, 2020 in Property & Real Estate -
Israeli cabinet ratifies deal on ties with UAE
Government’s weekly cabinet meeting also endorsed sending an agreement on establishing diplomatic relations with Bahrain to parliament for its go ahead Source link
October 25, 2020 in Business News -
Dubai-based Omniyat looking to expand luxury portfolio
Executive chairman and founder Mahdi Amjad hopes to extend the company’s footprint in Dubai, the Middle East and internationally Source link
October 25, 2020 in Business News -
UAE shakes up authorities in bid to improve economic fortunes
UAE Prime Minister announces changes for Insurance Authority and the Securities and Commodities Authority Source link
October 24, 2020 in Business News -
Rock-bottom prices, weak rupee drawing Gulf-based Indians back home for property deals
Non resident Indians said to be largely focusing on 2 and 3 bed properties to cater for home office amid work-from-home era Source link
October 24, 2020 in Business News -
Four factors to financing your business beyond relief funding
In the last few months there have been various announcements of relief funding initiatives to assist businesses and livelihoods struggling in the wake of Covid-19. The SA TV and Film relief fund has offered R8.3m to individuals in this industry, while the Department of Tourism has supported over 4,000 businesses with R200m in relief funding.
October 23, 2020 in Venture Capital -
Trends to look out for in the steel production sector
According to recent GDP reports, the downturn in the manufacturing sector – including iron, steel, non-ferrous metal products, metal products and machinery – has contributed a total of 11% to the overall 51% decline. Although the domestic steel market has been regressing for the past few years, Neil Reddy, business strategy and projects manager at
October 23, 2020 in Manufacturing -
Know your property valuation types to avoid being led astray
Today’s world is characterised by the availability of information, but with this easy access comes the risk of misinformation and disinformation sending DIY knowledge-seekers astray. The property industry is far from immune to the impact of incorrect or misleading information. Image source: Gallo/Getty In fact, one of the most vulnerable areas is also one of
October 23, 2020 in Property & Real Estate -
How coronavirus has impacted the top end of Dubai's property market
Being stuck at home for extended periods has prompted many residents to seek new properties with more space, says Luxhabitat Source link
October 23, 2020 in Business News -
India's SpiceJet set to launch RAK hub operations after lengthy delay
Flights from Mumbai and Delhi would operate under the current bilateral bubble agreement between the UAE and India Source link
October 22, 2020 in Business News -
Low interest rates contribute to property market revival
Pent up demand for properties saw residential property sales skyrocket after the reopening of the property market during Level 3 lockdown in SA. According to ooba, this property market boom continued through the third quarter, fuelled by low interest rates and favourable lending terms from South African banks. Says Rhys Dyer, CEO of ooba: “Interest
October 22, 2020 in Property & Real Estate -
Pros and cons of buying property as a company, through a trust, or privately
The three forms of homeownership in South Africa include owning a home as a natural person, a company, or as a trust. Adrian Goslett, regional director and CEO of RE/MAX of Southern Africa, elaborates on each kind of ownership type and their pros and cons. Buying as a natural person “By far the most common
October 22, 2020 in Property & Real Estate -
Why a simple Reg 28 amendment could fuel the SA economy
Covid-19 and the ensuing national lockdown has had a dramatic effect on all spheres of South African society, but small and medium-sized enterprises (SMEs) – especially those in the service sector – have been particularly hard hit. These SMEs, however, are also the fastest creators of new jobs, and could underpin the country’s much-needed economic
October 22, 2020 in Venture Capital -
Why Saudi women will be at the heart of the post-coronavirus recovery
Economic recovery cannot be realised without gender equality – the message from opening ceremony of the Women 20 Summit Source link
October 22, 2020 in Business News -
what needs to be done
Credit: Fatoba Tolulope via Pexels This was true in South Africa too. Production facilities for raw materials of hand sanitisers experienced an increase of nearly 400% in bulk orders. Suppliers could not keep up with sudden mass orders for hundreds of thousands of litres. In response to the shortage, governments across the world adopted temporary
October 21, 2020 in Manufacturing -
Emirates, Etihad on the radar of Indian tech firm MessageBird
CEO of cloud communications platform says company is seeking more big name clients after deals with Careem, Etisalat and OkaDoc Source link
October 21, 2020 in Business News -
BEE ROI: Spending money for the sake of BEE points only?
Are you part of the “begrudging camp”, the laissez-fair group, or the “how much – give me my BEE points” brigade? What is a BEE ROI? Return on Investment (ROI) deals with the money you invest in a specific project, and the subsequent return you realise from that investment. In the case of BEE, most
October 21, 2020 in Investments -
Why the future's green for financing, investment in the Gulf
Sustainable investment and financing is fast becoming a necessity for companies, says senior Abu Dhabi Global Market exec Source link
October 20, 2020 in Business News -
Why Brexit, millennials could fuel Britain's Islamic finance market
Charles Haresnape, CEO of Britain’s Gatehouse Bank, talks to Arabian Business about the challenges of growing Islamic finance in the UK Source link
October 20, 2020 in Business News -
Most Gulf-based CEOs happy with gov't response to coronavirus
New survey also shows 90% of business leaders in the region have implemented new remote working and meeting protocols Source link
October 19, 2020 in Business News -
Addressing supply chain disruption and compliance in the IMT sector in Africa
Industrials, manufacturing and transportation (IMT) companies have some of the most complex supply chains of any sector and have been particularly hard hit by quarantines, travel restrictions, and other disruptions brought about by the global Covid-19 outbreak. Marc Yudaken, partner and Head of the Industrials, Manufacturing and Transportation (IMT) at Baker McKenzie in Johannesburg says
October 19, 2020 in Manufacturing -
UAE reports slight drop in new coronavirus cases
Ministry of Health and Prevention reveals 1,215 new cases after over 115,000 tests Source link
October 19, 2020 in Business News -
Saudi lifts capacity to 75% for umrah pilgrims
Capacity limits for Saudi citizens and residents performing umrah rituals have been increased to 75 percent, according to the state-run Saudi Press Agency (SPA). The move is part of the kingdom’s second phase of gradual resumption of visits, which allows for prayers in the Grand Mosque and the Prophet’s Mosque in Madinah. Saudi Arabia to
October 18, 2020 in Business News -
One year on from the October 17 Revolution: 12 months to forget for Lebanon
Saturday marks the first anniversary of the October 17 Revolution, which erupted in Lebanon a year ago after decades of corruption and economic mismanagement that left Lebanon succumbing to the world’s highest debt-to-GDP ratio. It aimed to remove all governmental representatives and create a technocratic government elected by the people and for the people and
October 17, 2020 in Business News -
Why Omani businesses should be cautious ahead of April VAT implementation
The introduction of VAT in Oman could impact businesses already struggling to deal with the twin economic shocks of a global pandemic and volatile oil prices, according to Jeanine Daou, PwC Middle East’s indirect tax leader. Cash-strapped Oman has revealed plans to introduce a five percent value-added tax in April next year, following the lead
October 17, 2020 in Business News -
Daily coronavirus cases in the UAE rise above 1,400 for the first time
Ministry of Health and Prevention reports 1,412 new infections in the past 24 hours, bringing the total number of recorded cases in the UAE to 112,849 The UAE reported another daily high for coronavirus infections on Friday as cases rose above 1,400 for the first time since the start of the global pandemic. The Ministry
October 16, 2020 in Business News -
Pressure remains on commercial property market post-lockdown
As the country emerges from Covid-19-related lockdowns, the hard lockdown having been in April and May 2020, high frequency data points to quite a lengthy road back to “full” recovery for the economy. By “full” recovery we are referring to economy-wide production levels, as measured by GDP (gross domestic product), returning to pre-Covid-19 levels. Here
October 16, 2020 in Property & Real Estate -
Calls for South Africans to buy local to reignite growth
If South Africa is to adopt the right localisation policy at a larger scale, about 3.2 percentage points could be added to the country’s annual GDP, says President Cyril Ramaphosa. This policy would include manufacturing 10% of goods locally, as well as supplying 2% of goods that African countries buy from outside the continent. The
October 16, 2020 in Manufacturing -
G20 countries suspend poor nations’ debt until June 2021
World’s economic leaders will also adopt a common approach to longer-term debt actions The G20 countries have agreed to extend debt suspensions for poor countries which were particularly hard hit by the coronavirus pandemic for a further six months. The debt freeze could be extended beyond June 2021, until the end of next year. This
October 15, 2020 in Business News -
DA proposal risks worsening pensions crisis
The Democratic Alliance’s proposal to allow retirement savers to use their savings as loan guarantees would likely do more harm than good, especially at the lower end of the income scale. Mica Townsend, business development manager at 10X Investments Responding to the DA’s call for comment on a Private Member’s Bill to amend the Pension
October 15, 2020 in Investments -
Dubai launches remote working programme for oversees professionals
Expatriate employees can now work remotely from Dubai for companies in their home country. According to the announcement, made via Dubai Media Office on Thursday, applicants taking part in the programme will also benefit from the emirate’s zero income tax for individuals. The benefits and pitfalls of remote working With technology supporting remote working more and
October 15, 2020 in Business News -
Sheikha Hind bint Maktoum named Humanitarian of the Year 2020 at the Arab Woman Awards UAE
Sheikha Hind bint Maktoum bin Juma Al Maktoum, has been named the Humanitarian of the Year 2020 at the Arab Woman Awards UAE for her leadership of the ‘10 Million Meals’ campaign. Sheikha Hind is the wife of Sheikh Mohammed bin Rashid Al Maktoum, Vice President and Prime Minister of UAE and Ruler of Dubai,
October 14, 2020 in Business News -
Air Arabia set to resume flights as RAK Int’l eyes pre-coronavirus capacity levels
Ras Al Khaimah International Airport has announced that Air Arabia will be resuming a full schedule of passenger flights from Thursday. The move comes as the airport is slowly returning to its original capacity and resuming operations following a period of restricted services that was necessary to curtail non-essential travel in the wake of the
October 14, 2020 in Business News -
Is the PIE Act applicable in the case of homestay rentals?
Image source: Gallo/Getty There were many discussions around whether the Prevention of Illegal Evictions from and Unlawful Occupation of Land Act, 19 of 1998 (“PIE”) would apply to a case like this, whether there is an obligation on a landlord to provide safe accommodation for people in need, and, ultimately, whether homestay rentals are still
October 13, 2020 in Property & Real Estate -
Why shareholders cannot claim for reflective loss
Section 218(2) of the Companies Act, 2008 provides that: “Any person who contravenes any provision of the Act is liable to any other person for any loss or damage suffered by that person as a result of that contravention….” While this section may seem broad, the Supreme Court of Appeal (SCA) in the case of
October 13, 2020 in Investments -
Why the oil market will suffer long-term damage from coronavirus
The oil market will suffer a long-lasting blow from the coronavirus, with demand taking years to recover and peaking at a lower level, the International Energy Agency said. After an unprecedented 8 percent drop this year, global oil consumption will return to pre-crisis levels in 2023, provided Covid-19 is brought under control next year, the
October 13, 2020 in Business News -
Are SA investors motivated by money or morals?
A number of influences will hold sway over where people put their money, one of which is their personal value system and, for most South Africans, this appears to be non-negotiable. Kondi Nkosi, country head, Schroders This is according to the recently released Schroders’ Global Investor Study 2020 – an annual survey that canvassed the
October 13, 2020 in Investments -
Oman plans to introduce VAT in April as it battles budget deficit
Cash-strapped Oman is planning to introduce a 5 percent value-added tax in April, following the lead of Gulf neighbours. Essential food items, medical care, education and financial services will be exempt from the planned levy, according to a royal decree detailing the tax on Monday. Oman mulls VAT move after January 2022 to shore up
October 12, 2020 in Business News -
Young activists remind investors that today’s actions will determine our tomorrow
This week the annual Desmond Tutu International Peace lecture was delivered virtually amid Covid-19 restrictions on large gatherings. The 10th iteration of the event was poignantly themed around climate change and its real-world impacts, reiterating the call to build anew. Elize Botha, managing director, Old Mutual Unit Trusts. In late September 2019, the largest climate
October 12, 2020 in Investments -
Oman announces evening lockdown to curb coronavirus spread
Oman is set to go into complete lockdown from 8pm to 5am from Sunday evening through until Saturday, October 24, according to the sultanate’s state-run news agency. The curfew, which applies to public movement and commercial outlets, will be imposed by the Royal Oman Police (ROP). Beaches will also be locked, with regular inspections carried
October 12, 2020 in Business News -
Bullish on the US economy despite Covid and Trump
For investors, 2020 has been quite the ride. We have just emerged from the two most devastating quarters since the financial crash of 2008, interrupting what was a strengthening US economy characterised by increasing employment and robust earnings. As we move into Q4, there are three things we at Skybridge Capital think are going to
October 11, 2020 in Business News -
Airbus voices confidence in Lebanon’s MEA amid economic ‘ordeal’
European plane maker Airbus has insisted it has confidence in the Lebanese people to get their country out of the “ordeal” it is currently suffering as it delivered a new aircraft to Middle East Airline – Air Liban (MEA). MEA has taken delivery of the Airbus A320 with manufacturer serial number 10,000, as part of
October 10, 2020 in Business News -
Why trust is key to tackling mental health issues in the workplace
I remember back in the 1980s and 90s when mental health issues were really impacting me massively at work. The idea that I would speak to a supervisor or a manager was completely alien and I’d say plenty others were probably in the same boat. Back in the day it was a stigma. I didn’t
October 10, 2020 in Business News -
Dubai’s Averda enters India with plan to tackle smog in Amritsar
Averda to offer a solution to the deadly smog caused by stubble burning in northern Indian city Dubai-based Averda is making an entry into India for managing municipal and farm waste in the northern city of Amritsar to offer a solution to the deadly smog caused by stubble burning. The waste management solution provider is
October 9, 2020 in Business News -
Advance payments and deposits – Tax and other considerations
The current economic conditions have significantly increased credit risk for many businesses already struggling to make ends meet. As important as securing ongoing business may be, it only contributes financially if payment is also received for goods or services rendered. Many business owners may therefore be considering implementing changes to their billing practices or payment
October 9, 2020 in Investments -
Property market showing steady signs of recovery
Following the national Covid-19 lockdown during the second quarter of 2020, the latest figures from the Deeds Office reflect steady signs of recovery in the property market. According to Lightstone Property data, a total of 36,835 bond registrations were recorded at the Deeds Office over the period of July to September 2020. This translates into
October 9, 2020 in Property & Real Estate -
The importance of the US election to the global oil market
As if this year could not get any more surreal, markets and newswires have recently had to contend with the President of the United States and Commander-in-Chief contracting Covid-19, looking the virus squarely in the eye and coming out of hospital in double-quick time. With less than a month to go to the November Presidential
October 8, 2020 in Business News -
Bringing our skillsets and resources to the table to pull together
Lamar Booysen qualified as chartered accountant in 2014, lives in Midstream and works in Sandton for Blue Label Telecoms. As a 33 year-old professional, his responsibilities include performing a broad spectrum of head office finance functions applicable in a listed environment as he fulfils his position as Group Technical Financial Manager. Yet, despite his busy
October 8, 2020 in Venture Capital -
Dubai goes virtual to attract more Japanese investors into vital sectors
The Dubai Investment Development Agency (Dubai FDI), an agency of Dubai Economy, is chasing potential investors and partners from Japan after initiating a series of webinars to highlight opportunities in the healthcare, food and agribusiness and technology sectors. The webinars are aimed to enable stakeholders to continue exploring and promoting investment opportunities at a time
October 8, 2020 in Business News -
Saudi wealth fund explores investing in grocer Lulu
Saudi Arabia’s $360 billion sovereign wealth fund is exploring a potential investment in Lulu Group International, which runs one of the Middle East’s largest hypermarket chains, according to a person familiar with the matter. The Public Investment Fund (PIF) is considering buying a minority stake in the retailer, said the person, who asked not to
October 7, 2020 in Business News -
2019 State of Cape Town Central City Report launched
Published on Wednesday, 7 October, by the Cape Town Central City Improvement District (CCID), the report noted that the Central City “held its own quite remarkably” in the year under review, despite 2019 being “incredibly difficult”, according to CCID board chairperson Rob Kane. Says Kane: “Stakeholders and investors in the CBD have had to cope
October 7, 2020 in Property & Real Estate -
Climate risk still plagues Sasol despite Lake Charles sale
Photo: Sasol However, hurricane damage to the plant on two occasions (andanother expected this week) over the past year has highlighted how climate risk has impacted the business’s already precarious balance sheet, and the question remains whether this most recent move to alleviate debt levels is enough to put the company back on track. The
October 7, 2020 in Investments -
BNY Mellon lands a big ally for expansion in Saudi Arabia
Bank of New York Mellon Corp., the world’s largest custody bank, is pushing deeper into Saudi Arabia through a deal with an arm of the country’s biggest bank. The firm joined NCB Capital, a unit of National Commercial Bank, to seek institutional investors in the kingdom for BNY Mellon’s “global custody and associated asset-servicing activities”,
October 7, 2020 in Business News -
How the Lebanese private sector is coping in the eye of a storm
Lebanese private sector business conditions marked another deterioration last month, as firms continued layoffs with a sharp decline in wages. According to the latest purchasing managers’ index (PMI), compiled by IHS Markit, the September reading released Tuesday, was 42.1, up from 40.1 in August, partially driven by a further drop in output at the end
October 6, 2020 in Business News -
The way forward for SA and emerging markets
Emerging markets across the world are well positioned to recover from the Covid-19 pandemic, thanks to a raft of reforms and baked-in resilience – but while South Africa’s fundamentals appear to be in good shape, it must overcome slow growth and a worrying debt trajectory if it is to take advantage of the opportunities presented
October 6, 2020 in Investments -
Pandemic triggers sea-change for business in society
Nobel Prize winner Milton Friedman wrote a seminal article in 1970 stating that there is only one social responsibility of business, and that is to increase profits. In essence, he claimed that the sole purpose of business should be about a long-term increase in shareholder wealth, and nothing else. Yes, that’s right, the only reason
October 6, 2020 in Investments -
Charting a course beyond the pandemic for the East African property industry
East Africa has long been a challenging region for property developers to operate in, and not as buoyant as other markets. With Covid-19 triggering a recessionary environment, the property industry, always deeply affected by changes in the economy, is identifying areas of resilience and pockets of opportunity. As investors and developers step back, regroup and
October 6, 2020 in Property & Real Estate -
Bahrain-backed supercar maker unveils regional shake-up
Bahrain-backed McLaren Group has merged its operations in Europe, the Middle East and Africa under one new regional division. The new EMEA entity includes 20 markets, 36 retailers and a third of global sales volume, and will be led by South African Brett Soso, who has over 25 years’ experience in the automotive industry. McLaren
October 5, 2020 in Business News -
Cryptocurrency: The chameleon commodity
The cryptocurrency market is still relatively new and it has completely changed the trading landscape. Regulations are still quite lax in the crypto space and it’s a particularly volatile commodity. But it rose to widespread popularity almost overnight and has seen an unprecedented boom during the pandemic. Shutterstock Calls to order “The ever-growing popularity of
October 5, 2020 in Investments -
Seven inspection teams created in UAE to crack down on coronavirus violations
The UAE’s National Emergency Crisis Disaster Management Authority (NCEMA) has formed seven inspection teams, one to be based in each emirate, to crack down on those failing to adhere to the strict coronavirus precautionary measures. More than 46 protocols have been put in place in an effort to curb the spread of Covid-19 throughout the
October 5, 2020 in Business News -
Will the blurring of gender roles survive coronavirus?
Among the many issues raised by the ongoing pandemic, the lockdown has helped to remind us of the prevalence of rigid gender roles around the world. Women in particular are facing unique challenges; from front-line workers, to caregivers, to their children’s teachers, women are bearing the brunt on many fronts. In almost all societies, women
October 4, 2020 in Business News -
Daily coronavirus infections in the UAE surge to new high
1,231 new coronavirus cases are reported in the past 24 hours, bringing the total number of cases in the UAE to 97,760 Daily coronavirus cases in the UAE continued to surge on Saturday as the country’s Ministry of Health and Prevention (MoHAP) announced that the number of infections reached a new high. The ministry reported
October 3, 2020 in Business News -
Dubai economy could take 11% hit from travel, tourism curbs in 2020
Dubai’s economy could contract sharply by around 11 percent in 2020 due to restrictions on travel and tourism during the ongoing coronavirus pandemic, S&P Global Ratings said in a research note on Saturday. While it does not rate Dubai, the rating agency said based on publicly available information, Dubai’s gross general government debt will reach
October 3, 2020 in Business News -
Is gold still a safe investment?
As with every kind of investment, investment in gold carries risks, which varies depending on the objective of the investor and on the timeframe of the investment. A long term investor would look at gold as an hedge against inflation and to diversify and balance the portfolio of investment, thus the volatility of such portfolio
October 2, 2020 in Business News -
Why Joe Biden’s ‘Inshallah’ has sparked an internet frenzy
For people living in the Middle East, hearing the word ‘Inshallah’ is an everyday occurrence. In this reporter’s case, for example, it was most commonly heard in taxi cabs after asking the driver whether we’d arrive at work or dinner on time. How ‘Shut Up, Man’ and ‘Inshallah’ became unlikely social media wins for Biden
October 2, 2020 in Business News -
Lebanon’s foreign currency reserves could vanish in 12 months
Lebanon Central Bank’s foreign currency reserves will be fully depleted in the next 12 months if it posts the same monthly contraction that it has in the last three months, according to Goldman Sachs. The global investment bank warned in a report of a scenario that could exacerbate risks to social and political stability, which
October 1, 2020 in Business News -
Integrating impact in investment decisions
The devastation caused by Covid-19 on the country’s economy and particularly the poor socio-economic situation of many South Africans has amplified the value of impact investing, and investors realise the integral role it plays as part of their investment portfolio. This is according to Impact Investing South Africa (IISA), which has compiled a report not
October 1, 2020 in Investments -
Brisk recovery of Central Cape Town residential market surprises analysts
The brisk pace of recovery in property sales over recent weeks in Cape Town’s Central City residential market has surprised market analysts and estate agents alike. This following the sharp slowdown in activity during the national lockdown and the subsequent delays in the reopening of the Deeds Office. According to Alisdair Crofton, Rawson Property Group
October 1, 2020 in Property & Real Estate -
Technology & TCF in uncertain times. Top 5 trends during the Covid-19 pandemic
Overall, the pandemic has highlighted that as an authority, we are regulating in line with our counterparts in other countries. The operational resilience of the global financial sector was put to the test during Covid-19, and the sector responded impressively. This period has also emphasised the importance of coordination in regulatory responses. The Twin Peaks
October 1, 2020 in Investments -
UAE construction giant Arabtec to be placed into liquidation
UAE-based Arabtec Holding is to be placed into liquidation against a backdrop of “adverse market conditions”. The decision was made at the annual general meeting on Wednesday and comes after the group posted a net loss of $216m for the first six months of the year. Video of Youtube-1601473887 In an email sent to employees,
September 30, 2020 in Business News -
Reassessing our commitment to buying South African
The Covid-19 pandemic and related lockdowns disrupted global supply chains, and necessitated a greater reliance on local goods and services. “Local businesses, manufacturers, petrol stations, retailers, local products and services… in the absence of exports… have carried us through this pandemic,” said Happy Ngidi, chief officer: marketing and communications at Proudly South African. In light
September 30, 2020 in Manufacturing -
The potential to change South Africa
As South Africans, we are familiar with the term and concept of ‘ubuntu’ – which encapsulates humanity through the idea that we are who we are because of others, those who have come before us, and those who currently stand with us. Motshegwa More, senior associate consultant, IQBusiness It is this philosophy that, some would
September 30, 2020 in Investments -
Frontline staff at Sharjah Airport receive coronavirus vaccine
Frontline staff at Sharjah International Airport have received the first dose of the Covid-19 vaccine. The airport becomes the first authority in Sharjah to administer the vaccine to workers, which was done in cooperation with the Sharjah Government and the Ministry of Health and Prevention (MoHAP). UAE Phase III Covid-19 vaccine trials attract 31,000 volunteers
September 30, 2020 in Business News -
Kuwait’s emir, Sheikh Sabah al-Ahmad Al-Sabah, dies
According to the constitution, the emir should be succeeded by Crown Prince Sheikh Nawaf Al-Ahmed Al-Jaber Al-Sabah Kuwait’s ruler Sheikh Sabah Al-Ahmed Al-Jaber Al-Sabah, a seasoned diplomat who tried to heal rifts between feuding Gulf states and rebuilt ties with former foe Iraq, has died. He was 91. According to the constitution, the emir should
September 29, 2020 in Business News -
Forex Brokers publishes list of best trading platforms in South Africa for 2020
Leading South African broker comparison website forexbrokers.co.za published its annual listing of best trading platforms for 2020. Forex Brokers SA reviews the trading apps offered by Forex Brokers in South Africa every year, and gives them score, ratings and ranking based on its unique ranking factors and system. Traders can compare each broker’s features side
September 29, 2020 in Investments -
Abu Dhabi boxes clever over Fury v Wilder rematch speculation
Speculation has increased that the potential third match-up between heavyweight giants Tyson Fury and Deontay Wilder could be held in the Middle East, with commentators looking at Riyadh or even Abu Dhabi. Saeed Al Saeed, marketing director at DCT Abu Dhabi, would not be drawn on the potential bout being held in the UAE capital,
September 28, 2020 in Business News -
RCL Foods joins global food waste and loss initiative 10x20x30
Image credit: RCL Foods 10x20x30 is led by some of the world’s largest food retailers and providers, including Pick n Pay, who have each committed to engaging at least of their 20 suppliers to halve food loss and waste by 2030, in line with the United Nations’ Sustainable Development Goal (SDG) Target 12.3. The companies
September 28, 2020 in Manufacturing -
Asset managers need to check excessive executive pay
In September, Sanlam announced that it had awarded its newly appointed CEO Paul Hanratty a package potentially worth between R161 million and R500 million. Photo: Sanlam Building, Sandton by Paul Saad (CC BY-NC-ND 2.0) Just weeks into his appointment, Hanratty was awarded three million Sanlam shares at zero cost, and is tagged to get another
September 28, 2020 in Investments -
SAIBPP launches Women’s Forum, webinar addresses equity, access, assets
Earlier this month, the South African Institute for Black Property Practitioners (SAIBPP) launched its Women’s Forum with a live virtual event. Speakers included Fundi Mazibuko, chairperson of the SAIBPP Women’s Forum; Anne Githuku-Shongwe, UN Women’s South Africa Multi-Country Office (SAMCO) representative; Judi Nwokedi, Black Business Council chairperson of the Women’s Alliance; Mpumi Mpofu, CEO of
September 28, 2020 in Property & Real Estate -
Business as usual in post-pandemic recovery will only reinforce economic hardship
Africa’s low level of economic diversification is a leading factor in the continent’s economic fragility. Further, the Covid-19 pandemic has magnified the risks of countries’ over-dependence on a single natural resource such as oil. Professor Njuguna Ndung’u Natural resources Africa is endowed with abundant natural resources, including minerals, and revenues from their export constitute a
September 28, 2020 in Investments -
Why the time is right for UAE women to start their own businesses
The decree stipulating equal pay for men and women, recently issued by UAE President Sheikh Khalifa bin Zayed Al Nahyan, shows how far businesswomen in the region have come and how far they still have to go. Speaking to Arabian Business in an interview before the launch of SheLeads accelerator program, Nadine Halabi, business development
September 28, 2020 in Business News -
UAE-based NMC Healthcare placed in administration
UAE-based NMC Healthcare has been placed in the hands of administrators by the Abu Dhabi Global Markets Courts (ADGM). Richard Fleming and Ben Cairns of Alvarez & Marsal were appointed joint administrators on Sunday. According to a statement, the “light touch” administration process, which relates directly to 36 businesses operating in the UAE, will allow
September 27, 2020 in Business News -
Daily UAE coronavirus infections rise to new high
The record daily figure of 1,078 takes the total number of cases in the UAE to 90,618 The UAE reported a new peak for daily coronavirus infections on Saturday as the latest 24-hour figure rose to 1,078. The record figure takes the total number of cases in the UAE to 90,618, it was announced. The
September 27, 2020 in Business News -
Abu Dhabi reveals plan to build world’s largest indoor farm
A joint venture between GrowGroup IFS from the Netherlands and Abu Dhabi-based RainMakers Capital Investment will build the largest indoor farm in the world in the desert of the UAE. GreenFactory Emirates will produce 10,000 tonnes of fresh produce per year on a plot of 17.5 hectares and a cultivation area of 160,000 square metres.
September 26, 2020 in Business News -
Eight Dubai businesses closed as daily UAE coronavirus cases remain above 1,000
Dubai Municipality said on Friday it has closed eight business premises for failing to comply with coronavirus preventative measures. The authority tweeted that five salons and three restaurants have been ordered to shut in Dubai during the latest round of inspections. #DubaiMunicipality closed 5 salons and 3 food establishments for failing to comply with the
September 25, 2020 in Business News -
Rise in sale and leaseback transactions to free up cash flow
Facing mounting economic pressure, business owners are increasingly looking for innovative ways to access and free-up cashflow; one such avenue is through a sale and leaseback transaction. Justin Thom In uncertain times, sale and leaseback transactions are simple, effective and cause minimal disruptions. While this term is nothing new, associate director for Galetti Corporate Real
September 25, 2020 in Property & Real Estate -
Where would investment managers put their money for a five-year return?
If you had R1m right now and a five-year time-horizon, what would you do with the money? This was one of the questions posed to a panel of investment experts at the recentl Allan Gray Offshore Exchange. “I would take most of the R1m offshore, given that there are several risks in the local market.
September 25, 2020 in Investments -
UAE’s equal pay move for private sector women hailed
The UAE President has issued a decree, stipulating equal wages for women and men in the private sector, effective immediately. The first article of the decree, issued by Sheikh Khalifa bin Zayed Al Nahyan, says that female employees shall receive wages equal to that of males if they perform the same work, or another of
September 25, 2020 in Business News -
New coronavirus infections fall from peak but remain above 1,000
Ministry of Health and Prevention reports 1,002 new daily cases and one further death New daily coronavirus infections in the UAE fell from Wednesday’s peak of 1,083 but remained above 1,000, the Ministry of Health and Prevention (MoHAP) announced on Thursday. In a statement, the ministry said it conducted 93,618 Covid-19 tests over the past
September 24, 2020 in Business News -
Saudi Arabia to ‘assess all options’ to boost economy after coronavirus impact
Saudi Arabia is “assessing all the options” to boost its economy after taking painful measures to offset a sharp decline in oil revenue and deep economic contraction caused by restrictions to halt the spread of the coronavirus, the kingdom’s commerce minister said. “The impact of oil prices has affected Saudi Arabia’s revenue and like any
September 23, 2020 in Business News -
UAE celebrates Saudi National Day under Together Forever theme
The UAE will join Saudi Arabia in celebrating the kingdom’s 90th National Day on Wednesday, held under the slogan Together Forever to confirm the deep ties between the two countries. The historic ties between the UAE and Saudi Arabia were officially consolidated by the efforts of the late leaders – Sheikh Zayed bin Sultan Al
September 23, 2020 in Business News -
Saudi mega projects in spotlight at construction summit
Representatives from Amaala, Neom and Diriyah Gate Development Authority are set to take part in the Leaders in Construction KSA Summit Representatives from three of the biggest developments in the Middle East – Amaala, Neom and Diriyah Gate Development Authority (DGDA) – are set to take part in a panel discussion: ‘Looking at Saudi Arabia’s
September 22, 2020 in Business News -
The Covid-driven surge in online grocery shopping
There can be no question that Covid-19 has changed the way the world operates. Some trends are temporary, and some are more permanent, with the common question nowadays being: what will the new normal look like? As investors in early-stage technology companies, we at Kingson Capital are trying to establish what trends are likely to
September 22, 2020 in Venture Capital -
Mirror Trading International exposed: #MTILeaks reveal trading data
In another twist, the South African Bitcoin trading company under investigation by the Financial Services Conduct Authority (FSCA) and on the radar of other international financial regulatory entities has had its entire transaction history exposed on the dark web. Mirror Trading International (MTI) is a South African Bitcoin trading company, which has been under the
September 22, 2020 in Investments -
Middle East start-ups must smash ‘scale-up ceiling’ to achieve Unicorn status
A “scale-up ceiling” must be broken if Arab innovation is able to product the MENA region’s next Unicorn, according to Areije Al Shakar, fund director at Al Waha Fund of Funds. Recent research from New York Data Analytics firm CB Insights revealed the Arab world has just one single Unicorn – Emerging Markets Property Group,
September 22, 2020 in Business News -
Lebanon’s PM urges action to save crisis-hit country
Mustapha Adib is under pressure to form a fresh cabinet as soon as possible so the new gov’t can launch a raft of reforms Lebanon’s prime minister-designate Mustapha Adib on Monday urged competing political forces to step up and help him form a desperately needed independent government to save the crisis-hit country. Adib is under
September 21, 2020 in Business News -
Interested in crypto trading? Attend the Binance webinar on ‘The Future of Money’
Binance, the world’s largest cryptocurrency exchange is running a free webinar for crypto enthusiasts across South Africa. Whether you’ve just heard about crypto or you’re a crypto enthusiast looking to develop trading skills – this event is for you! Register here to attend the FREE webinar on Tuesday, 22 September at 6pm SAST About the
September 21, 2020 in Investments -
JSE guidance on effective communication with investors
The JSE has identified focus areas for listed companies to consider when raising capital to weather the Covid-19 crisis, including the amount of information they need to disclose. Image: JSE Over the last few months, many issuers have approached investors to raise capital to weather the Covid-19 storm or are in the process of doing
September 21, 2020 in Investments -
Over 17,500 signed up to DIFC’s employee savings scheme that replaces gratuity
Dubai International Financial Centre’s (DIFC) employee workplace savings scheme (DEWS) has been hailed a huge success, just seven months after being launched. And investment adviser Mercer has revealed strong interest to see the initiative repeated across Dubai and the wider UAE. in February this year, DEWS restructured the previously defined benefit end of service gratuity
September 20, 2020 in Business News -
Dubai’s jeweller to the stars predicts luxury rebound after coronavirus
The luxury jewellery market is expected to bounce back strongly following the crippling impacts of coronavirus on the industry, according to Pascal Mouawad, co-guardian and head of the retail division for jewellers-to-the stars, Dubai and Geneva-based Mouawad group. After what he described as “bad years” for the industry from 2016 through to 2019, Mouawad said
September 20, 2020 in Business News -
Dubai coffee shop ordered to close as new UAE coronavirus cases top 800
A coffee shop in Dubai has been ordered to close for not adhering to coronavirus prevention measures. Inspection teams from the Commercial Compliance & Consumer Protection (CCCP) Sector in Dubai Economy conducted a total of 673 field visits on Friday to verify compliance with efforts to combat Covid-19. Dubai Economy in co-operation with Dubai Tourism,
September 19, 2020 in Business News -
Five Dubai shops fined for breaking coronavirus face mask rules
Dubai Economy inspectors warn a further 10 businesses as the UAE reports 865 new daily infections Five more shops in Dubai have been fined by authorities as part of an ongoing crackdown on coronavirus rule violations, it was announced on Friday. The Commercial Compliance & Consumer Protection (CCCP) sector of Dubai Economy said five commercial
September 18, 2020 in Business News -
While repo rate breathes life into residential property, commercial sector remains subdued
The sounds emanating from the property market in recent months seem to point to two almost totally different worlds. On the one hand, there seems to be some excitement in the residential market, with a significant number of credit-dependent home buyers taking advantage of very low interest rates, while in the commercial property segment the
September 18, 2020 in Property & Real Estate -
A systematic approach to ESG investing imperative to manage costly trade offs
With Covid-19 having accelerated the need for socio-economic development, sustainability and societal impact continue to gain traction and recognition among the investment management and investor communities alike. Mike Adsetts, deputy chief investment office, Momentum Investments “As increasingly more investors begin to question the purpose and impact of their investments – beyond a singular focus on
September 18, 2020 in Investments -
Rate decision welcomed as first-property buyer’s market booms
The decision by the South African Reserve Bank (SARB) to retain the repo rate at 3.5% (home loan base rate at 7%) is welcome news. Samuel Seeff, chairman of the Seeff Property Group Unlike the rest of the economy, the residential property sector has reaped the benefits of the aggressive rate cuts resulting in a
September 18, 2020 in Property & Real Estate -
UFC to return to Abu Dhabi as Yas Island prepares coronavirus ‘safe zone’
Abu Dhabi is set to implement its coronavirus safe zone concept later this month after tourism chiefs announced that it will host a major UFC event on Yas Island. The Department of Culture and Tourism – Abu Dhabi (DCT Abu Dhabi) and UFC, the global mixed martial arts organisation, said that Return to UFC Fight
September 18, 2020 in Business News -
Potential recovery scenarios as repo rate remains stable
The Monetary Policy Committee’s decision to keep the repo rate stable was not entirely surprising, as the 300bps rate cuts for the year to date are still taking effect, given the fact that the economy was in lockdown during Q2, and with restrictions not yet fully lifted. Dr Andrew Golding, CE of the Pam Golding
September 18, 2020 in Property & Real Estate -
How work on $5bn Heart of Europe accelerated during coronavirus lockdowns
Six months’ worth of work on the $5 billion Heart of Europe project was completed within the peak four months of coronavirus, according to Jozef Kleindeinst, CEO of Kleindeinst Group, the company behind the ambitious development. As soon as the pandemic struck the UAE, a decision was taken to move around 1,200 staff members onto
September 17, 2020 in Business News -
Can foreigners own property in South Africa?
Foreigners may purchase and own immovable property in South Africa without any restrictions, as foreigners are generally subject to the same laws as South African nationals. The only foreigners disqualified from owning property in South Africa are foreigners that are here illegally. It is thus possible for a foreign individual to own property individually, jointly
September 17, 2020 in Property & Real Estate -
Shun equities at your peril
Anet Ahern, CEO, PSG Asset Management This influx of investment may come as a surprise to many, in light of the Covid-19 pandemic, but it’s important to look at what kind of investment has gained the most ground. South African interest-bearing money market portfolios attracted by far the biggest share of investment. This reflects a
September 17, 2020 in Investments -
Bahrain’s Gulf Air says CEO to step down by end-September
No reason given for departure of Kresimir Kucko who cut costs and increased revenue during his three-year tenure Kresimir Kucko will step down from his role as CEO of Gulf Air by the end of the month, it was announced on Tuesday. Joining in 2017, Kucko began his journey at Gulf Air by setting the
September 17, 2020 in Business News -
Revealed: how Beirut Port has been impacted since blast disaster
Port of Beirut freight activity contracted by 20.5 percent to around 288,000 tons during August, down from 362,000 tons in the previous month, in the aftermath of the devastating explosion. According to statistics released by the Port of Beirut on Wednesday, freight activity declined by 38.34 percent year-on-year to 2,895,000 tons in the first eight
September 16, 2020 in Business News -
Israel establishes full ties with Bahrain, UAE at White House
Israel normalised relations with long-time foes Bahrain and the United Arab Emirates at a White House ceremony on Tuesday as President Donald Trump said similar US-brokered deals were close between the Jewish state and “five or six” other nations. Israeli Prime Minister Benjamin Netanyahu and the foreign ministers of Bahrain and the UAE sealed the
September 15, 2020 in Business News -
How Dubai’s retirement visa may shape the future of the UAE’s real estate market
For a sluggish real estate market attempting to recover from the blow of the coronavirus pandemic, the announcement of the retirement visa was perfectly timed for Dubai. Experts and developers alike agree that the implications are big, with new sub-sectors being created in the property market focused on would-be buyers approaching retirement age. One of
September 15, 2020 in Business News -
SA investors expect higher future returns despite Covid-19 shock
Even as Covid-19 halted the longest economic expansion on record and plunged the world into deep recession, South African investors expect to make an average annual total return of 12.67% – almost 2% higher than the global average predicted returns of 10.9%. Kondi Nkosi, South Africa country head, Schroders This was revealed in the recently
September 14, 2020 in Investments -
First homes to be built on $1.36bn Jubail Island from early 2021
Jubail Island Investment Company (JIIC) on Monday said it has awarded a contract to design 16 villa and townhouse types to be constructed within phase 1 of the AED5 billion Jubail Island mega project. The developer said the designs will cater to “discriminating and diversified buyer demands”, meeting market demand particularly addressing Emirati household preferences.
September 14, 2020 in Business News -
Impact of remote working, changing office market could be far-reaching
Ever since the Covid-19 hard lockdowns began in all seriousness across the world earlier this year, the world has been abuzz with talk of how the crisis has changed the world, and at the centre of much of the debate has the sudden forced move to working from home for many office employees, and the
September 14, 2020 in Property & Real Estate -
Middle East ride-hailing app charting a successful course through coronavirus crisis
The co-CEO of Middle East ride-hailing app Jeeny is hoping its journey through the current coronavirus can act as inspiration for others. The company, a joint venture between the Middle East Internet Group (MEIG), Rocket Internet and IMENA, was forced to completely reinvent its model, which helped it retain its workforce and execute its last-mile
September 13, 2020 in Business News -
Dubai police hammer home coronavirus restrictions during shopping mall inspections
Dubai Police issued 141 violations and 1,422 warnings across four shopping malls on Friday. It comes amid a surge in new confirmed cases of coronavirus and renewed calls from the Supreme Committee of Crisis and Disaster Management in Dubai to respect various Covid-19 restrictions and preventive measures. Dubai businesses closed, fined over coronavirus violations as
September 13, 2020 in Business News -
Foreign workers stranded in Lebanon without hope as coronavirus, currency crises bite
The impact of coronavirus has compounded the misery being suffered by many foreign workers in Lebanon, who have found themselves caught up in a dire economic and financial crisis since last October. Their salaries were already decimated after the Lebanese pound exchange rate deteriorated while banks resorted to placing restrictions on financial transfers abroad. Now,
September 12, 2020 in Business News -
Bahrain agrees to normalise relationship with Israel
Bahrain and Israel have agreed to fully normalise their diplomatic relations, US President Donald Trump announced on Friday. In a tweet, Trump said that the agreement was “another historic breakthrough”, with Bahrain becoming the second Gulf country – after the UAE – to “make peace” with Israel in the last 30 days. In a joint
September 12, 2020 in Business News -
Saudi Arabia chases UK tech firms to partner on $500bn Neom City
Saudi Arabia has called on UK companies to partner and invest in its multi-billion dollar smart cities as part of the kingdom’s transformation drive. “The drive behind all these opportunities is that smart cities will help Saudi Arabia,” Moath Alzahrani, smart cities domain lead at the kingdom’s National Digital Transformation Unit told delegates at London’s
September 11, 2020 in Business News -
UAE urges more caution as new coronavirus cases continue to surge
The UAE’s National Emergency Crisis and Disaster Management Authority on Thursday urged citizens and residents to be more vigilant after announcing that new daily coronavirus cases in the country totalled 930, a recent high, with five further deaths. The numbers represent a four-month high and a five times increase compared to a month ago when
September 10, 2020 in Business News -
What lies ahead for SA’s commercial property market
Speaking during a recent PSG Think Big series webinar, Estienne de Klerk, CEO of Growthpoint Properties, said, “Commercial rentals haven’t gone mad; rates and taxes have. Estienne de Klerk, CEO of Growthpoint Properties and chairman of the South African Real Estate Investment Trusts (SA REIT) Association “They are bizarrely increasing in this weak economic environment
September 10, 2020 in Property & Real Estate -
Rise in Indian remittances from the Gulf hides tales of coronavirus heartbreak
Remittances to India from the Gulf region are booming despite the economic turmoil imposed by the coronavirus, with many Indian banks reporting growth of up to 20 percent. The rise in NRI (non-resident Indian) remittances during April-July from the Gulf region, are said to be propelled by the twin factors of a plunge in rupee
September 10, 2020 in Business News -
MBC Group ends advertising deal with Arabian Media Services
Dubai-based MBC Group is to launch MBC Media Services after ending its five-year advertisement deal with Arabian Media Services, a Choueiri Group company. The in-house commercial advertising and sales unit has been launched in partnership with Engineer Holding Group (EHG), although it will be controlled by MBC Group and is set to begin operations at
September 9, 2020 in Business News -
One man infects 45 people with coronavirus in the UAE, leads to one death
The UAE’s National Emergency Crisis and Disaster Management Authority on Tuesday reiterated its call for vigilance against the spread of coronavirus after one man’s violations led to the infection of 45 other people, including one death. NCEMA said in a series of tweets that the individual’s “lack of practicing precautionary and safety protocols” led to
September 8, 2020 in Business News -
Coronavirus stress: How to spot mental health warning signs and cope with them
Dr Laila Mahmoud, specialist psychiatry, Medcare Hospitals & Medical Centres provides advice for those struggling during the coronavirus crisis Dr Laila Mahmoud, specialist psychiatry, Medcare Hospitals & Medical Centres, has revealed that anxiety and depression cases have “highly increased” during the coronavirus crisis. And while this is to be expected, given all the uncertainties and
September 8, 2020 in Business News -
Beware of permanent solutions for temporary problems
Bronwyn Williams highlights her key learnings in Lionel Shriver’s The Mandibles: A Family, 2029-2047 and Edward Snowden’s Permanent Record to emphasise that as we submit to further infringements on our privacy, freedom of speech, and freedom of movement in the effort to stop the spread of Covid-19, we must ensure that emergency measures designed to
September 7, 2020 in Investments -
Property investment: Exploring opportunity in adversity
Paul Stevens, CEO of Just Property, weighs in on the property investment opportunities available in the current climate of low interest rates and recession, while also providing tips, along with Andrew Walker, CEO of the SA Property Investors Network (SAPIN), for new investors. Paul Stevens, CEO of Just Property “In May 2020, Lightstone predicted an
September 7, 2020 in Property & Real Estate -
Cinemas are not in competition with Netflix, says MAF Entertainments CEO
Cinemas can survive the streaming service boom that coronavirus has given the likes of Netflix, as audiences finally return to movie theatres to enjoy the big screen experience. Cameron Mitchell, CEO of Majid Al Futtaim Cinema Entertainment Leisure, revealed that occupancy levels in its VOX Cinemas – the biggest exhibition chain in the Middle East operating some 550 screens across
September 7, 2020 in Business News -
Daily coronavirus numbers drop to just over 500 new cases in UAE
87,336 tests were conducted by health authorities in the country over the past 24 hours The number of confirmed coronavirus cases in the UAE has dropped to its lowest amount in a week. According to the National Emergency Crisis and Disaster Management Authority Coronavirus (NCEMA), there were 513 new infections discovered in the past 24
September 6, 2020 in Business News -
New daily coronavirus cases rise above 700 in the UAE
National Emergency Crisis and Disaster Management Authority also reports one further death, taking the total death toll to 388 New daily coronavirus cases rose again above 700 in the past 24 hours, according to official figures released by the National Emergency Crisis and Disaster Management Authority (NCEMA) on Saturday. The authority also reported one further
September 5, 2020 in Business News -
Harbhajan Singh joins list of absentees from IPL in the UAE
Former India Test off-spinner withdraws from Chennai Super Kings team ahead of tournament start in the UAE on September 19 Former India Test off-spinner Harbhajan Singh on Friday added to a growing list of top names to pull out of the coronavirus hit Indian Premier League. The 40-year-old has also become the second key player
September 5, 2020 in Business News -
Abu Dhabi updates entry rules as new daily UAE cases exceed 600
The Abu Dhabi Emergency, Crisis and Disasters Committee on Friday announced updated procedures for entering the emirate amid concerns to prevent the spread of coronavirus. In a series of tweets, the committee said that residents and visitors of Abu Dhabi, starting on Saturday, will be able to enter the emirate upon presenting a negative result
September 4, 2020 in Business News -
Oman mulls VAT move after January 2022 to shore up finances
A joint committee of the State Council and Shura Council suggests time frame and sends draft law for approval to Sultan Haitham Bin Tariq Al Said Oman’s legislature is proposing to implement a value-added tax after January 2022 as falling oil revenue pressures its finances, following similar moves by Gulf neighbours. A joint committee of
September 4, 2020 in Business News -
Time for SA to put proactive and ambitious relief measures in place
South Africans are paying a high price for the prolonged lockdown and consequent devastation of the local economy with levels of emotional distress nearly as high as at the start of the lockdown five months ago. Andrea Rademeyer In fact, levels of emotional distress are even higher than the levels of financial distress, which in
September 3, 2020 in Investments -
Financing in place for fifth phase of giant Dubai solar park
Saudi-based ACWA Power on Thursday announced it has completed the signing of all financing agreements for the fifth phase of the Mohammed bin Rashid Al Maktoum Solar Park in Dubai. Shuaa Energy 3 is the special purpose vehicle incorporated for the project, with 60 percent ownership by the Dubai Electricity and Water Authority (DEWA) and
September 3, 2020 in Business News -
JLL Q2 report notes positive outlook for SA industrial, warehousing sector
According to JLL’s latest South Africa Q2 Real Estate report, while the country is witnessing the easing of restrictions, the impact of Covid-19, coupled with economic pressures, continues to create challenges for most corporate real estate sectors. The report provides an overview of the office, retail, industrial and hospitality sectors in Johannesburg, Cape Town and
September 3, 2020 in Property & Real Estate -
Harnessing the power of ESG risk premia in systematic investing
Socially responsible investing (SRI) has undergone a profound evolution since its origins in colonial America, where religious groups abstained from investing their endowment funds into anything associated with the slave trade. Centuries later, it transformed into mutual funds screening out investments that were directly or indirectly associated with gambling, alcohol and tobacco. Jessica Phalafala, quantitative
September 3, 2020 in Investments -
Lebanon PM designate pledges to form ‘expert govt’ in record time
Lebanon’s prime minister designate Mustapha Adib pledged to form a ‘government of experts’ to drive desperately needed reforms in the disaster-hit and economically ailing country. His announcement came after a high-profile visit by Emmanuel Macron during which the French president said political leaders had agreed on a reform road map involving a government being put
September 2, 2020 in Business News -
JSE is bouncing back from Covid crisis
The Johannesburg Stock Exchange has proved itself remarkably resilient during the global Covid-19 crisis. So much so that the JSE All Share Index is not just in positive territory, but on a like-for-like basis, it is producing better returns than it did at this time last year despite enduring some of the most volatile trading
September 2, 2020 in Investments -
Green and social bonds in the light of Covid-19
Michael Ridley The pandemic raises profound issues about social justice, political power and the type of society we want to live in. The true cost of various measures that governments are putting into place to fight Covid-19 has not been identified, but it is safe to say legislators will have less money to put into
September 2, 2020 in Investments -
US-Israeli delegation leaves Abu Dhabi after historic visit
A US-Israeli delegation left Abu Dhabi on Tuesday after a visit aimed at charting the relationship between the UAE and the Jewish state after their landmark deal to establish diplomatic ties. The United Arab Emirates and Israel are expected to sign the US-brokered accord, Israel’s first with a Gulf nation and only its third with
September 2, 2020 in Business News -
Supporting a strong recovery in SA manufacturing
Many people re-discovered their enthusiasm for local production during the disruptive, bewildering early days of the pandemic. The result is ‘localisation’, an emerging global trend that could revitalise local factories. Shannon Gernetzky, sector head of industrials at Standard Bank, and Sean Wegerhoff, lead, industrial advisory at Standard Bank, state that if we respond quickly and
September 1, 2020 in Manufacturing -
Nepal lifts virus climbing ban for Bahrain royal expedition
Nepal is making a royal exception to its coronavirus ban on foreign arrivals, with a mountaineering team including a Bahrain prince set to tackle two major peaks. The Himalayan country shut its borders in March including grounding international flights just ahead of the busy spring season, devastating the local tourism sector. The 18-member party were
September 1, 2020 in Business News -
GBCSA awards Equator – the Belt Factory 5-star Green Star certification
The Green Building Council of South Africa has awarded Durban-based belt manufacturer Equator – the Belt Factory a five-star Green Star Certification for Existing Building Performance. L-R: Employees Nosipho Zulu and Thabanie Mngoma and business development partner Lungani Manqele with the bins where all waste is collected for recycling. The rating focuses on energy use
September 1, 2020 in Manufacturing -
Covid-19 has hit SMEs in SA’s food sector hard. What can be done to help them
Covid-19 has prompted widespread discussion of the resilience of food systems and how efficiency and competitiveness have been previously understood. Covid-19 has further emphasised the need for a more diverse food system, in which SMEs play a key role. Recent decades have seen the growth of increasingly complex food value chains. These are underpinned by
September 1, 2020 in Manufacturing -
‘Recession-resistant’ retail centres go under the hammer
This September, more than half a dozen “recession-resistant” investment properties, comprising neighbourhood and community retail shopping precincts, will go under the hammer, shares High Street Auctions director and lead auctioneer Joff van Reenen. He says property investment indices emerging from the Covid-19 pandemic have only served to underscore the intrinsic long-term performance of this asset
September 1, 2020 in Property & Real Estate -
Swiss hotel giant chooses Dubai as regional HQ
Dubai’s position as a tourism and business hub has prompted Swiss-Belhotel International to make the emirate the epicentre for its European, Middle Eastern, African (EMEA) and Indian operations. The move comes as part of a company reshuffle, which has seen the four regions merged together. The brand’s flagship hotel, Swiss-Belhotel du Parc, Baden Switzerland will
August 31, 2020 in Business News -
Supermeal adds another food delivery option to the UAE’s home dining scene
If there was one business segment in the UAE that has really blossomed during the Covid-19 pandemic it’s home delivery services. The combination of lockdowns, curfews and public anxieties over restaurants and bars has meant that people wanting chef-prepared food have been resorting to food delivery platforms in ever greater numbers. Deliveroo, Talabat and Uber
August 31, 2020 in Business News -
Avoid acting in haste. Rather sweat the assets you have
Rather than raiding retirement annuities and selling off a valuable property at a fraction of its worth, Gary Palmer, CEO of Paragon Lending Solutions, looks at the benefits of sweating the assets you have. Gary Palmer, CEO of Paragon Lending Solutions “People are understandably concerned and anxious. This pandemic is lasting longer than we initially
August 31, 2020 in Property & Real Estate -
Kuwait Finance Ministry to mull halving $66bn debt ceiling
Finance and economic committee has also suggested reducing the period for borrowing Kuwait’s government will study an idea to lower by half the ceiling on public debt as part of proposed amendments to a law it’s struggled to push through parliament, Finance Minister Barak Al-Sheetan said. The finance and economic committee has also suggested reducing
August 30, 2020 in Business News -
UAE lifts boycott on Israel, opens new trade corridor
The UAE announced on Saturday it has repealed legislation imposing a boycott of Israel after the two countries struck a US-brokered deal to normalise relations. UAE President Sheikh Khalifa bin Zayed Al-Nahyan issued a federal decree “abolishing the Federal Law No. 15 of 1972 regarding boycotting Israel and the penalties thereof”, state news agency WAM
August 30, 2020 in Business News -
Property sharks circle Beirut after port explosion
Ever since a monster blast ravaged the arches and high ceiling of his family home in Lebanon’s capital, Bassam Bassila says a real estate developer has been hounding him to sell. “The owner of a tower block nearby is trying to pressure me into selling him my home so he can raze it to the
August 29, 2020 in Business News -
UNESCO in massive fundraising drive for blast-hit Beirut
The UN’s culture and education organisation will organise two conferences to seek “considerable” funding for blast-hit Beirut, its director said Thursday in the Lebanese capital. Audrey Azoulay told AFP during the visit of a school damaged by the colossal August 4 explosion at Beirut port that two events were in the works. “The first one
August 28, 2020 in Business News -
Home-buying in the unforgiving 2020 – it’s good news if you have your affairs in order
They say every cloud has a silver lining and many of us are desperate to discover that glistening edge in 2020 – a year that, thanks to the Covid-19 pandemic, has been unlike anything we could have predicted at our December-31st celebrations. Looking on the bright side, the coronavirus may have taken a lot from
August 28, 2020 in Property & Real Estate -
Women in leadership leaving a legacy
Interview with Deenisha Nadesan, director at Capital Legacy Fiduciary Services – South Africa’s leading provider of wills Leaving a legacy is more than the likes on your Instagram page or the number of shares you get on Facebook. It’s about what you contribute to this world and the journey you travel to get there. This
August 28, 2020 in Investments -
Saudi Aramco appoints CEO to run $500m investments arm
Saudi Aramco appointed a new chief executive officer to run its $500 million venture capital and investments arm after the previous head departed, according to people with knowledge of the situation. Mahdi Aladel, who formerly led the state energy producer’s base oils and lubricants division, will take over as CEO of Saudi Aramco Energy Ventures,
August 28, 2020 in Business News -
Aparthotels show market resilience through global lockdown regulations
Image supplied In the short-term accommodation category, which covers apartments of two bedrooms or more, including serviced units in the aparthotels sector, revenue per available room (RevPAR) was down just 4.5% from the same time last year. For the hotel category, which includes studios and one-bedroom apartments, RevPAR was down much more, at 64.8% from
August 27, 2020 in Property & Real Estate -
Why pay-as-you-go lagoons could be coming to the Gulf
US multinational water innovation company Crystal Lagoons announced on Thursday it is in talks with Middle East investors to bring public access lagoons to the region. The company, which totals 22 real estate projects globally anchored by crystalline lagoons including District One in Dubai and Citystars Sharm ElSheik, Egypt, is looking to expand its portfolio
August 27, 2020 in Business News -
How optimal water use can support food security, reduce waste in Africa
While wastewater reuse presents a sustainable solution in supporting food security amid looming water shortages, the infrastructure costs present a barrier to widespread adoption in South Africa. Manufacturing plants, particularly local branches of international food and beverage producers, are, however, increasingly investing in treatment facilities, enabling them to reuse their own wastewater and achieve zero
August 27, 2020 in Manufacturing -
How the property market will potentially evolve
In a recent webinar on ‘Exploring post-Covid-19 property trends in South Africa’, Associate Professor Francois Viruly, University of Cape Town’s (UCT) head of the Urban Real Estate Research Unit, looked at the longer-term trends in the country’s property market and the impact that the pandemic is expected to have on the sector. “Many of these
August 27, 2020 in Property & Real Estate -
UAE coronavirus cases rise by 399, one further death
National Emergency Crisis and Disasters Management Authority figures also reveal a further 57,419 tests were conducted in previous 24 hours The number of confirmed coronavirus cases in the UAE rose to 399 in the past 24 hours with one further death due to complications, it was confirmed on Wednesday. In a tweet by the National
August 26, 2020 in Business News -
Abu Dhabi travel details updated
Authorities in Abu Dhabi have approved two tests which allow entry into the emirate, while continuing precautionary measures to contain the spread of Covid-19. The new guidelines will come into effect from Thursday (August 27) and will permit travel into Abu Dhabi within 48 hours of receiving a negative PCR test result. Measures will also
August 26, 2020 in Business News -
Abu Dhabi fund said to seek resolution to Mumbai airport takeover deal
Abu Dhabi Investment Authority (ADIA) has reportedly sought the Indian government’s help in resolving a tussle over its takeover bid for Mumbai International Airport Ltd (MIAL) amid a rival bid from the Adani Group to acquire the aviation hub. ADIA, in consortium with India’s NIIF (National Infrastructure and Investment Fund) and Canada’s PSP (Public Sector
August 25, 2020 in Business News -
Like everything else, it needs to evolve
John Jack, CEO, Galetti Corporate Real Estate This trend can be attributed to both the low interest rate and many reassessing their needs and preferences now that they are no longer tied to a fixed workplace. The FNB report cites anecdotal evidence showing rising demand for bigger properties (mainly freestanding homes), notably in less crowded
August 25, 2020 in Property & Real Estate -
Looking beyond the corona crisis
Over the past few months, the epicentre of the Covid-19 outbreak has shifted. In the early days, governments around the world hoped that by acting decisively, the outbreak could be put behind us swiftly. This has not proven to be the case and the disease has shown itself to be a truly global pandemic. The
August 25, 2020 in Investments -
Steady rise in women’s buying power reshaping property market
According to data from residential property specialists Leadhome, South African women now constitute more than half of all buyer and seller enquiries. CEO Marcél du Toit says the data highlights a steady rise in women’s buying power that is fundamentally reshaping the South African property market, which was traditionally dominated by men. In all, 58%
August 25, 2020 in Property & Real Estate -
UNESCO leads fight to safeguard Beirut’s heritage after port blast
UNESCO is drafting an action plan for Beirut to safeguard the city’s historic urban fabric and heritage sites damaged by the port explosion on August 4. The International Action Plan for Culture was outlined by Hamed Alhamami, director, UNESCO Regional Bureau for Education in the Arab States in an interview with Arabian Business. Following the
August 24, 2020 in Business News -
Indian hotel group OYO in talks with UAE, Saudi partners to re agreements
Company says re-thinking ‘every aspect’ of business in light of Covid-19 impact on global tourism Source link
August 24, 2020 in Business News -
Is the tide turning for emerging markets?
Headwinds caused by the Covid-19 pandemic have made investors reconsider the traditional risk-return dynamic of asset classes. They realised that risks can be found anywhere in the investment world. Even in developed markets – considered a safe bet in the previous cycle. But what plausible investment opportunities could emerging markets offer in the next few
August 24, 2020 in Investments -
Bahrain gets building as $1.7bn tenders awarded in first half of 2020
Government procurement regulator says the construction and engineering sector took the lion’s share of contracts in the first six months of the year Bahrain has announced it has awarded 769 tenders in the first half of 2020 worth a total of $1.7 billion. According to new data released by Bahrain’s Tender Board, the country’s government
August 23, 2020 in Business News -
UAE denies reports of mass family Covid-19 deaths
National Emergency, Crisis and Disasters Management Authority refutes TV and social media reports regarding the death of five members of one family as a result of coronavirus The UAE’s National Emergency, Crisis and Disasters Management Authority (NCEMA) has denied reports on television and social media regarding the death of five members of one family as
August 23, 2020 in Business News -
UAE minister defends request for F-35 fighter jets
Country has ‘legitimate’ case to order fighter planes, says Minister of State for Foreign Affairs Anwar Gargash The United Arab Emirates has “legitimate requests” for Lockheed Martin Corp’s F-35 fighter jet, a top official said Thursday, a day after President Donald Trump said the purchase may be approved. “We ought to get them,” Minister of
August 22, 2020 in Business News -
Judge issues two new arrest warrants over Beirut port blast
Blast caused severe damage across swathes of the city, killing at least 181 people and injuring more than 6,500 A Lebanese judge leading investigations into Beirut’s port blast issued two new arrest warrants on Friday, a judicial source told AFP. “The investigating judge, Fadi Sawan, continued his investigations… and today issued two arrest warrants,” the
August 21, 2020 in Business News -
South Africa’s first eco home loan
One of the key residential market trends in South Africa has been the move away from freehold homes into estate or complex living, largely because they offer increased security, and a sense of community. When you add to that list, the option of ‘green’ or ‘eco’, the appeal morphs into heightened desirability, attracting particularly environmentally-conscious
August 21, 2020 in Property & Real Estate -
Emirates airline expects return to full capacity by summer 2021
Dubai-based Emirates airline is expecting to be back to full capacity by the summer of next year, according to the carrier’s chief operating officer Adel al Redha. “I think we can easily say that by summer 2021, we will be serving 100 percent of our network destinations – that means 143 destinations will be served
August 21, 2020 in Business News -
Egypt’s industrial sector to get $5bn boost
Sector currently comprises about 17% of the country’s total GDP and employs 15% of the overall workforce Egypt is to allocate LE80.2 billion ($5bn) to support the country’s industrial sector, according to a statement by Planning and Economic Development Minister Hala El Said. The sector currently comprises about 17 percent of the country’s total GDP and
August 20, 2020 in Business News -
Tetra Pak reacts to demand for sustainable packaging solutions
Food packaging and processing company Tetra Pak Southern Africa continues to adapt its value chain to support the circular economy and meet growing demand for sustainable packaging from South African retailers and food and beverage producers. Stefan Fageräng, managing director of Tetra Pak Southern Africa According to the company, the growing demand for sustainable products
August 20, 2020 in Manufacturing -
Indian travel agents ‘padding up’ for possible IPL boost
The IPL’s inaugural match between Mumbai Indians and Chennai Super Kings may be a month away, but leading Indian online travel agents are already ‘padding up’ in anticipation of a possible rush by cricket fans to travel to the UAE. A decision on whether fans will be allowed attend the cricket tournament has yet to
August 19, 2020 in Business News -
Now’s the time for contrarian investments
Investment markets move in cycles. Sometimes, opportunities abound to acquire the businesses we love to own: higher quality companies that are out of favour and hence cheap. Now is such a time. Our process is designed to capture contrarian investment ideas. We seek out mispriced quality assets in uncrowded areas, where above-average quality companies are
August 19, 2020 in Investments -
Lebanon reimposes lockdown amid Covid-19 spike: ministry
Lebanese authorities on Tuesday announced a new lockdown and an overnight curfew to rein in a spike in coronavirus infections. The new measures will come into effect on Friday and last just over two weeks, the interior ministry said, adding that they would not affect the clean-up and aid effort following the devastating August 4
August 19, 2020 in Business News -
Uber arrives in Sharjah as part of UAE expansion
Customers in the emirate will have access to UberSelect, the company’s most affordable service Taxi ride hailing app Uber has expanded its services into Sharjah. Customers in the emirate will have access to UberSelect, the company’s most affordable service. Rifad Mahasneh, general manager, GCC & Levant at Uber MENA, said: “We’ve seen the benefits of
August 18, 2020 in Business News -
How to cut expenses from your budget
Dawie Roodt, chief economist at the Efficient Group, relates a story from many years ago, before he acquired all of his current financial wisdom. “My family and I, went on holiday without planning or saving for it. The whole trip was put onto my credit card and every day I swiped a little more knowing
August 18, 2020 in Property & Real Estate -
Let’s #DoBizZA this September – Bizcommunity.com
Recent months of lockdown have seen the importance of supporting locally-made products, services and neighbourhood enterprises in order for economies to survive and thrive. This September, we invite you to make possible our editorial spotlight on all things local in the #DoBizZA Content Feature – celebrating companies doing Biz and manufacturing locally in sectors such
August 18, 2020 in Manufacturing -
Arabtec to call EGM as company posts H1 losses of $216m
UAE-based building giant Arabtec Holding is to call an extraordinary general meeting to discuss future options for the group after posting a net loss of AED794 million ($216m) for the first six months of the year. Revenue also dropped from AED4.213 billion ($1.147bn) in the first six months of 2019 to AED3.026bn ($824m) for the
August 18, 2020 in Business News -
A home repossession is a last resort for Absa
One of the emerging fears of those whose financial status has been seriously impacted by lockdown, is having their home repossessed by the bond holder. This is a very serious concern and can be life-threatening in terms of elevating already high levels of stress and anxiety, more so for those who even before the onset
August 17, 2020 in Property & Real Estate -
Tiger Brands to sell meat business units
Tiger Brands has reached agreements to dispose of its value-added meat products business to two separate companies. Credit: Entreprise Foods The food manufacturer will sell its abattoir business at Olifantsfontein to pork producer Molare Proprietary Limited for R100m, while it will sell its meat-processing facilities in Germiston, Polokwane and Pretoria for R153m to Silver Blade
August 17, 2020 in Manufacturing -
New DIFC data protection law requires businesses to take action before October deadline
Following the recent update to the Dubai International Financial Centre (DIFC) Data Protection Law, which came into effect on July 1, businesses in the DIFC have three months to update their policies, processes and contracts to reflect the requirements of a wide-ranging new set of requirements, which include expanded rules on the processing of personal
August 17, 2020 in Business News -
Covid-19 sees ‘overvalued’ commercial property market correction
Covid-19 has pushed the restart button on almost every sector of the property market. The question: “When will the commercial property sector return to pre-Covid-19 levels?” keeps being asked. I believe that the sector may have been overvalued to start off with and that this correction was much needed and overdue. Norman Raad, CEO of
August 17, 2020 in Property & Real Estate -
Saudi sovereign fund said to hire ex-Morgan Stanley risk officer
PIF received an injection of $40bn from the kingdom’s reserves in March and April as it sought investment opportunities amid the economic wreckage of the coronavirus crisis Saudi Arabia’s sovereign wealth fund hired a former chief risk officer at Morgan Stanley Investment Management, Feta Zabeli, as it expands its international portfolio, according to people familiar
August 16, 2020 in Business News -
Australia and England stars set to miss IPL start in UAE
Top cricketers including England’s Ben Stokes and Australia fast bowler Pat Cummins risk missing the start of the Indian Premier League because of a series between their countries next month. Australia tour England from September 4 in a series that ends three days before the start of the world’s richest Twenty20 league in the United
August 16, 2020 in Business News -
Coronavirus: UAE reports 283 new cases, two more deaths
The UAE reported 283 new cases of coronavirus on Saturday after conducting 77,640 tests over the past 24 hours. It takes the total number of confirmed cases in the emirate since the start of the global pandemic to 64,102. The Ministry of Health and Prevention (MoHAP) announced two further deaths at the hands of Covid-19,
August 15, 2020 in Business News -
Emirates to launch one-off A380 service to Clark
Dubai-based Emirates is to launch a one-off A380 service to Clark International Airport on August 19, marking the first commercial flight, using an A380 aircraft, to operate to the Philippines destination. The special flight will help to meet the demand to and from the Philippines, especially serving passengers from the metro Manila and the surrounding
August 14, 2020 in Business News -
Israel-UAE talks to begin in ‘coming weeks’, says UAE’s US ambassador
Talks to begin implementing the normalisation of ties between the UAE and Israel will start“in the coming weeks”, according to the UAE’s ambassador to the United States, Yousef Al Otaiba. On Thursday, US President Donald Trump announced what he termed a ‘historic peace agreement’ between the two nations. In a joint statement, Israeli Prime Minister Benjamin
August 14, 2020 in Business News -
Always remember you’ve earned your position, says Peregrine’s Bianca Botes
If she could go back and give advice to her younger self, Bianca Botes, executive director at Peregrine Treasury Solutions, says it would be to stop doubting herself, because everything she needs to be successful is already inside her. Bianca Botes, executive director, Peregrine Treasury Solutions “As a young woman, it is important to be
August 14, 2020 in Investments -
UAE, Israel agree to normalise diplomatic relations
Israel and the United Arab Emirates have reached an agreement to fully normalise relations, a historic breakthrough that US President Donald Trump said will facilitate peace in the Middle East. The move means the UAE joins Egypt and Jordan as the only countries with fully normal ties with Israel, signalling the countries will send ambassadors
August 13, 2020 in Business News -
Forecasting post-Covid financial behaviours based on lessons from the 2008 financial markets crash
In August, after more than 130 days of lockdown, Covid-19 infections in South Africa surpassed the half-a-million mark, leaving the economy devastated. The economic impact of the lockdown will linger even once the health threat associated with the virus has passed. Growing levels of unemployment mean that an increasing number of households throughout the country
August 13, 2020 in Investments -
First-time buyers jump at opportunity to own property
According to recent research from home loan originator ooba, first-time home buyers increased by 12% in June, with the average age of buyers being 34. Grant Smee, MD of Only Realty, says they have noticed an upturn in residential property sales over the past two-months, a trend which, while unexpected, has been welcomed by the
August 13, 2020 in Property & Real Estate -
Beirut blast blows dark cloud over real estate giant Solidere
Until last week, flagship Lebanese property company Solidere had been a bright spot for investors looking to protect their money as the country’s finances slid into meltdown. The massive explosion that wrecked swathes of Beirut real estate suddenly changed much of that. Solidere was set up in 1994 to redevelop the heart of the Lebanese
August 13, 2020 in Business News -
Abu Dhabi said to seek local investors for $21bn pipeline
Abu Dhabi is considering bringing local investors into its natural-gas pipeline network, according to people familiar with the matter, just months after raising cash from foreign funds. State-owned Abu Dhabi National Oil Co is discussing moving its 51% holding in the pipelines into a special-purpose vehicle, according to the people. It would then sell about
August 12, 2020 in Business News -
Emirates NBD says upgrade issues have been ‘resolved’
Emirates NBD claimed on Tuesday night that all the issues surrounding a previous upgrade to its banking platform had been resolved, and offered customers a further apology for the disruption caused. Customers of the bank were left angry and frustrated by the glitch in the service, picked up during an “upgrade” of the “core banking
August 11, 2020 in Business News -
Empowering women through finances – MiWayLife
There is no denying the financial freedom and power money allows us, but what happens when your ability to access proper financial planning is determined by your gender? The paradox of the gender pay gap As we enter Women’s Month to celebrate the phenomenal feat that women have achieved by defying the odds and doing
August 11, 2020 in Investments -
Emirates to operate 60 weekly flights to Pakistan
Travellers are reminded of travel restrictions and other eligibility and entry criteria requirements Emirates is set to ramp up its schedule to Pakistan with 53 weekly flights to the country from Monday – increasing to 60 from August 16. The Dubai-based carrier is to increase its frequency to and from Karachi, Islamabad, Lahore, and Sialkot;
August 11, 2020 in Business News -
Heart of Europe’s Rainy Street to be completed by Q4
European expats pining for home during the current coronavirus pandemic can soon enjoy an experience of the continent without leaving Dubai. Kleindienst Group’s Côte d’Azur development, on the company’s $5 billion Heart of Europe project off the coast of the emirate is scheduled to complete in the fourth quarter of this year. The project is
August 10, 2020 in Business News -
Emirates NBD apologises after upgrade ‘teething issues’ causes service chaos
Bank customers have taken to social media to demand answers after being unable to access online banking over the weekend Emirates NBD has apologised to customers who have endured a frustrating weekend and have been unable to access online and mobile banking and other systems. The bank said the issue has been caused as a
August 9, 2020 in Business News -
Developer Arada launches ‘luxury garden community’ as demand for Sharjah real estate holds firm
Sharjah-based developer Arada has announced that it is launching sales of a new community at its $6.5bn (AED24m) megaproject, Aljada. The company said that 114 villas and townhouses at Sarab 2, which it billed as a ‘luxury garden community’, would go on sale on Monday 10 August. In a statement, Arada said it had brought
August 9, 2020 in Business News -
UAE announces 239 new Covid-19 cases following an additional 63,792 tests
The ministry said 230 patients have recovered from the virus, bringing the total to 56,245 The UAE’s Ministry of Health and Prevention announced 239 new Covid-19 cases on Saturday, following an additional 63,792 tests conducted throughout the country. The additional cases bring the UAE’s total number of detected cases since the outbreak to 62,300. The
August 8, 2020 in Business News -
UAE dispatches emergency medical aid to Lebanon
Aid consisted of essential medicines, medical supplies, and surgical equipment for hospitals and medical centres The UAE has dispatched emergency medical assistance to Lebanon following the massive explosions in Beirut. The assistance includes 30 tons of medical supplies sent from the International Humanitarian City in Dubai to Lebanon, following a directive from Sheikh Mohammed bin
August 7, 2020 in Business News -
Sixteen detained over Beirut blast: prosecutor
Sixteen staff members at Beirut’s port, the site of a massive explosion, have been detained over the deadly blast that devastated large parts of the city, a military prosecutor said Thursday. Lebanese authorities had announced an investigation into Tuesday’s explosion, which they said was triggered by a fire igniting 2,750 tonnes of ammonium nitrate stored
August 7, 2020 in Business News -
Rebuilding the humanitarian ecosystem in South Africa
The Covid-19 pandemic is forcing non-profits to reinvent their interventions and business models at lightning speed, and many donors, philanthropists, foundations and corporate social investors are rising to the challenge and supporting them ad-hoc. But when the dust settles, the humanitarian sector will need to take strategic steps to restore and strengthen its capacity to
August 7, 2020 in Investments -
Bahrain’s Investcorp posts $165m loss, targets 50% AUM growth
Bahrain’s Investcorp recorded a $165 million loss for the 12 months ending June 30, against profits of $131 million a year ago, citing direct negative impact from the Covid-19 pandemic. The ongoing coronavirus crisis also impacted asset-based income, which recorded a $100 million loss from an $89 million profit, said Investcorp in a statement. The
August 6, 2020 in Business News -
Winde, De Lille to tackle economic recovery at WCPDF virtual events
From August to November, the Western Cape Property Development Forum (WCPDF) will be hosting monthly interactive virtual sessions addressing the future of the construction and property development industry. Alan Winde, premier of the Western Cape, and Patricia De Lille, national minister of public works and infrastructure, will tackle South Africa’s economic recovery during these “In
August 6, 2020 in Property & Real Estate -
Funding the rise of the female-led digital economy in Africa
When it comes to making good business decisions, representation matters. Always. The acknowledgement of this truth is what has led to the wide-ranging racial transformation of businesses across South Africa over the past 20 years, albeit with significant regulatory and investor prompting in terms of equitable-ownership and black economic empowerment commitment. Janade du Plessis, head:
August 6, 2020 in Venture Capital -
Up to 300,000 left homeless by Beirut blast: governor
Damage from the blast in the port area seems to have extended over half of Beirut A huge blast in Beirut has left 300,000 people homeless and caused damage across half of the city estimated to cost more than $3 billion, its governor told AFP on Wednesday. “I think there are between 250,000 and 300,000
August 6, 2020 in Business News -
So, what will the truth be like in the future?
“Don’t be so overly dramatic about it, Chuck,” said Kellyanne Conway. “What, you’re saying it’s a falsehood? And they’re saying Sean Spicer, our press secretary, gave alternative facts to that?” “Look, alternative facts are not facts. They’re falsehoods,” responded Chuck Todd. This polite, and in hindsight, almost quaint exchange happened in January 2017.
August 5, 2020 in Investments -
Property investment – to sell or not to sell
Every investor will at some point be confronted with making a decision on whether or not to sell a long-term asset such as a property, says Praven Subbramoney, CEO of Private Bank Lending at FNB. This can sometimes be a challenging decision for an investor, more so for a novice investor, amid tough economic times.
August 5, 2020 in Property & Real Estate -
Treasury grants 90-days deferral of excise tax due on alcoholic beverages
The alcohol industry welcomes the positive response from the National Treasury to its request for a deferment of excise tax on alcoholic beverages. The National Treasury has proposed a 90-day deferral for the payment of excise taxes on alcohol. The deferrals will be effected through the Customs and Excise Act Rules to be published by
August 4, 2020 in Manufacturing -
Alcohol ban dampens SAB and Heineken’s investment ambitions
The South African Breweries (SAB) has halted R5bn in investments in South Africa over the next two years due to the consequences of the 12-week long alcohol ban, and Heineken South Africa is reevaluating plans to establish a new major production facility in KwaZulu-Natal. ©Oleksandr Prokopenko via 123RF SAB announced it has cancelled R2.5bn of
August 4, 2020 in Manufacturing -
The tectonic shift transforming investing
The past year has seen a marked shift in society’s attitudes toward sustainability. This shift is spurring political pressure, a regulatory push and technological advancements to create the foundations of a more sustainable world, leading to a change in investor behaviour and setting in motion a major yet gradual capital reallocation. Brian Deese, MD, global
August 4, 2020 in Investments -
Arada awards $115m contract to build second phase of Sharjah’s Aljada megaproject
Sharjah developer Arada has announced that the main construction contract to build East Village, the second residential phase of its $6.5bn Aljada project, has been awarded. The $115m contract was won by Sharjah contractor Best Building Contracting Company, with work starting immediately. The scope of work includes the construction of 16 apartment blocks, which together
August 4, 2020 in Business News -
Virgin Galactic signs Rolls-Royce deal to develop supersonic plane
The recruitment of Rolls-Royce is aimed at devising a propulsion system that’s both cutting-edge and sustainable Virgin Galactic Holdings signed an accord with engine maker Rolls-Royce Holdings Plc to collaborate on technology to power a plane to three times the speed of sound. The recruitment of Rolls-Royce, which provided the engines for Concorde, the world’s
August 3, 2020 in Business News -
How the Grand Renaissance Dam might spark basin-wide water cooperation
Construction workers stand next to rock wall at the Grand Ethiopian Renaissance Dam in Ethiopia on December 26, 2019. There is no doubt that the dam has become a source of serious tension among Egypt, Ethiopia and Sudan. But, in my view, a war is very unlikely. In fact, the dam has helped to shift
August 3, 2020 in Energy -
How much each interest rate cut has saved property owners
At the current prime lending rate of 7%, homeowners can end up spending less on their monthly bond instalments than they would in rent, making it an enticing time to purchase real estate, says Adrian Goslett, regional director and CEO of RE/MAX of Southern Africa. “Not only does this cut make it more affordable for
August 3, 2020 in Property & Real Estate -
Egyptian government boosts spending on investments by 35%: finance ministry
Egypt’s government spending on investments in various fields in the fiscal year 2020/21 is “unprecedented” with an increase of 35%, according to a statement by the ministry of finance. A total of 280.8 billion Egyptian Pounds ($17.6bn) has been allocated to improve general services and raise standards of living, especially in the poorer areas, Finance
August 2, 2020 in Business News -
WHO warns of drawn out pandemic, as race for a vaccine gathers pace
The UN health agency warned that the coronavirus pandemic would be lengthy and could lead to “response fatigue”, as the case count in South Africa topped half a million. Six months after the World Health Organisation declared a global emergency, the novel coronavirus has killed more than 680,000 people and infected more than 17.5 million,
August 2, 2020 in Business News -
Kuwait suspends flights from 31 countries
Kuwait’s Directorate General of Civil Aviation (DGCA) has suspended flights from 31 countries on the day it resumed commercial operations. Kuwait’s DGCA announced plans to restart operations on a three-phase basis, with operating capacity not exceeding 30 percent “in line with health requirements” in the first phase. The announcement today was based on advice from the country’s
August 1, 2020 in Business News -
Emirates warns passengers to arrive early during busy Eid period
Dubai-based Emirates airline has issued a warning to travellers ahead of what is expected to be a busy period for the Eid holiday. Passengers are reminded to check the latest travel requirements, and to arrive at the airport at least three hours before their flight departure to avoid any delays. The busiest time for departures
August 1, 2020 in Business News -
Britain imposes restrictions around Manchester after virus spike
Britain has banned people from different households in Manchester and stretches of northern England from meeting indoors because of a spike in coronavirus infections. Health Secretary Matt Hancock said restrictions were being tightened slightly for millions of Britons because people were “meeting and not abiding to social distancing”. “We take this action with a heavy
July 31, 2020 in Business News -
Private equity likely to weather Covid-19 storm
The private equity industry’s resilience in the face of weak macroeconomic circumstances during the 2019 bodes well for the industry’s ability to navigate the Covid-19 crisis, according to the Southern African Venture Capital and Private Equity Association (Savca) 2020 Private Equity Industry Survey. Tanya van Lill, CEO, Savca There’s no denying that the first half
July 31, 2020 in Venture Capital -
Saudi-backed consortium abandons bid to buy Newcastle United
Deal had been agreed to buy the club for $390m from current owner Mike Ashley in April An investor group led by Saudi Arabia’s Public Investment Fund has abandoned its proposed 300 million-pound ($390m) takeover of English Premier League outfit Newcastle United Football Club. The consortium formally withdrew its interest because of the prolonged process
July 30, 2020 in Business News -
Food giants appointing teams to focus on plant-based products
Forty percent of “leading” food firms, including Kroger, Tesco, Nestle and Unilever, now have dedicated teams focused on plant-based products, according to new research from collaborative investor network the FAIRR Initiative. Credit: Polina via Pexels The figures were published following a four-year investor engagement programme between the FAIRR Initiative and 25 large food retailers and
July 30, 2020 in Manufacturing -
Kuwait to resume flights to 20 destinations from August 1
Schedule includes flights to countries in Europe, Africa, Asia and the Middle East Kuwait International Airport is set to resume operations from August 1 with commercial flights to 20 countries in the Middle East, Asia and Europe. Destinations revealed by the Directorate General of Civil Aviation (DGCA) include the UAE, Bahrain, Oman, Lebanon, Qatar, Jordan,
July 30, 2020 in Business News -
Hajj pilgrimage in the age of coronavirus is unlike any before
Holy water will be consumed from single-use bottles. Pilgrims will get sterilised pebbles to throw at pillars symbolising the devil. And instead of jostling shoulder to shoulder, worshipers will circle Makkah’s grand mosque with 1.5 meters of space between them. This year, Islam’s annual hajj pilgrimage – which starts on Wednesday – will be unlike
July 29, 2020 in Business News -
SA leg of Blue Sky Young Researchers Innovation Award launched
The Paper Manufacturers Association of South Africa (PAMSA) has launched the local leg of the Blue Sky Young Researchers Innovation Award. Research – from tree breeding to materials development and the beneficiation of process waste – is vital in a sustainable forestry sector. (Image: Mondi) Organised by the International Council of Forest and Paper Associations
July 29, 2020 in Manufacturing -
Brikor JSE suspension lifted, notes increased demand for bricks
Brikor Limited’s (BIK) suspension on the JSE since 2013 has been lifted after coming out of provisional liquidation in 2015, the company recently announced. The manufacturer and supplier of building and construction materials has also noted an uptick in demand for bricks, according to Garnett Parkin, CEO of Brikor. Garnett Parkin, CEO of Brikor The
July 29, 2020 in Manufacturing -
Oman asks ministries to identify 2021 spending priorities to reduce deficit
Oman has already trimmed its budget expenditure and announced liquidity support in an effort to provide some relief from the Covid-19 shock Oman’s government has asked ministries to slow down projects and identify spending priorities as it looks to tackle the widest budget deficit among Gulf Arab economies. In a directive to ministries ahead of
July 28, 2020 in Business News -
Latest JLL report examines key investment trends following Covid-19
JLL’s recently released 2019-2020 South Africa Investment report provides insights on key investment trends observed following the impact of Covid-19. According to the report, the economic impact of Covid-19 is expected to place downward pressure on rental levels and capital values across all market segments, and the trend is expected to persist over the short
July 28, 2020 in Property & Real Estate -
Banksy to donate sale of artwork to Palestinian hospital
British street artist Banksy is to donate the proceeds from the auction of one of his works, valued at over $1 million, to a Palestinian hospital. Titled “Mediterranean Sea View 2017,” the work is to be auctioned Tuesday at Sotheby’s in London, said Wissam Salsaa, director of the Walled Off Hotel which Banksy helped set
July 28, 2020 in Business News -
All Abu Dhabi-bound travellers need negative PCR test, says Etihad Airways
All travellers arriving into Abu Dhabi as their end destination may be subject to further PCR screening at the airport From August 1, all travellers flying Etihad Airways will require to show a negative Covid-19 PCR test result. The rule applies to travellers from around the world to Abu Dhabi, and those transferring via Abu
July 27, 2020 in Business News -
M&A in Africa: Bleak skies overhead, but the future looks brighter
Nigeria Going against the downward trend, dealmaking in Nigeria increased by 44% with 26 deals in H1 2020 compared to 18 in H1 2019. Total deal value went down 46% to US$204mn in the first half of 2020, from $375mn in H1 2019 (but this is likely because most of the deals listed for H1
July 27, 2020 in Investments -
New repo rate presents great opportunity for hungry investors
Contrary to popular opinion, the new repo rate will result in investors with solid balance sheets lining up for opportunities. John Jack, CEO, Galetti Corporate Real Estate As announced by the South African Reserve Bank on 23 July, the repo rate now sits at an unprecedented low of 3.5% with the prime lending rate at
July 27, 2020 in Property & Real Estate -
Do South African banks offer value in a Covid-19 battered world?
Covid-19 has disrupted the lives of most people around the world with tragic consequences for some. There is still debate around the lockdown strategies adopted, with no shortage of vocal armchair experts on social media. Regardless of what will be seen as the correct policy response in hindsight, we already know that the economic consequences
July 27, 2020 in Investments -
Reliance overtakes Exxon to become world’s no. 2 energy company
While the energy business accounted for about 80% of Reliance’s revenue, chairman Mukesh Ambani’s plan to expand the company’s digital and retail arms has helped him attract $20bn Reliance Industries, controlled by Asia’s richest man, toppled ExxonMobil Corp. to become the world’s largest energy company after Saudi Aramco, as investors piled into the conglomerate lured
July 27, 2020 in Business News -
Some Dubai-bound passengers will need second PCR test on arrival from Aug 1
Starting August 1, passengers travelling from 29 countries will be required to take a second PCR test upon arrival in the UAE. Emirates airline released an update for passengers coming to Dubai that will require all passengers to have negative Covid-19 test certificate before departing, and a second PCR test on arrival in the emirate
July 26, 2020 in Business News -
Coronavirus: UAE reports 313 new cases of Covid-19, 393 new recoveries
Health officials reveal over 52,000 coronavirus tests have been carried out in the last 24 hours The UAE reported 313 new cases of coronavirus on Saturday as health officials revealed over 52,000 tests had been carried out over the past 24 hours. It takes the total number of cases in the country since the
July 25, 2020 in Business News -
Over 10,000 volunteer for Covid-19 vaccine trial in UAE
Clinical trials for phase three testing being conducted by Abu Dhabi Health Services Over 10,000 people across the UAE have volunteered to take part in clinical trials for phase three testing of a vaccine to combat Covid-19. The trials are being conducted by Abu Dhabi Health Services (SEHA) under the supervision of the Department of
July 25, 2020 in Business News -
Coronavirus: UAE reports 261 new cases, one further death
Health officials in the UAE reported 261 new cases of coronavirus on Friday, taking the total number of infections in the country to 58,249 since the onset of the pandemic. The Ministry of Health and Prevention (MoHAP) revealed that over 46,000 Covid-19 tests had been carried out over the past 24 hours. MoHAP confirmed that
July 24, 2020 in Business News -
Rate cut welcomed as property rebounds on pent-up demand
The decision by the Reserve Bank to cut the repo rate by a further 25 basis points to 3.5%, reducing prime and the base home loan rate to a further historic low of 7% is welcome relief for the property market and households. Samuel Seeff, chairman of the Seeff Property Group The decision was expected
July 24, 2020 in Property & Real Estate -
Home buyers responding to interest rate cuts
The further reduction of the repo rate by 25 basis points to an all-time low of 3.5% takes the prime interest rate down to 7%. Dr Andrew Golding, chief executive of the Pam Golding Property group Having already slashed the repo rate by 275 bps to soften the effects of Covid-19, the Reserve Bank had
July 24, 2020 in Property & Real Estate -
Why wind and solar would offer the DRC and South Africa better energy deals than Inga 3
The hydropower potential at the Grand Inga site on the Congo River, the largest remaining untapped hydropower potential in the world. Seven years later, development of Inga 3 has yet to begin. The project continues to be stymied by conflicts. For example, earlier this year, one of the partners, a Spanish company, pulled out of
July 24, 2020 in Energy -
Saudi Arabia to Bahrain causeway reopens today
King Fahd Causeway closed on March 7 as part of the precautionary measures implemented by Saudi Arabia The roadway linking Bahrain to Saudi Arabia has reopened to traffic today, ending a costly closure introduced to stop the spread of the coronavirus. The King Fahd Causeway was closed on March 7 as part of the precautionary
July 23, 2020 in Business News -
How Asia’s clothing factories switched to making PPE
©Akinbekova Assem via 123RF High street chains in the UK and elsewhere could have immediately paid their garment suppliers to make PPE rather than clothes, but did not. Many simply cancelled millions of orders, which ended up putting thousands of Asian workers out on the streets. Many garment workers didn’t even receive monthly wages due
July 23, 2020 in Manufacturing -
Covid-19 impact on consumption patterns in Africa’s key markets
Image credit: Retha Ferguson from Pexels It was predicted that by 2030 the largest consumer markets would include Nigeria and South Africa, with Kenya and Ghana set to lead as the fastest-growing consumer markets on the continent by 2024. But how has Covid-19 affected consumers in these countries and what will this mean for these
July 23, 2020 in Investments -
Gulf buyers return to UK property market in post-lockdown boom
The UK property sector has witnessed a major bounce-back as pent up demand is released into the market, say experts. According to Tom Bill, head of UK residential research at Knight Frank, the strength of both buyer and seller demand in recent weeks has ‘taken people by surprise’. “At the moment, demand is very strong,” Bill
July 23, 2020 in Business News -
Saudi Arabia could raise billions of riyals from privatisation
Saudi plans to sell assets in the education, healthcare and water sectors, Finance Minister Mohammed Al Jadaan said Saudi Arabia could raise billions of riyals over the next four to five years by privatising state assets as the kingdom seeks to boost its finances that have been hit by a slump in oil prices and
July 22, 2020 in Business News -
Taking advantage of a green reset
When the world shut down to deal with the Covid-19 pandemic, the planet started to recover. A state of being that should have corporates asking how they can be doing business in a better, kinder way. Nicole Martens, Futuregrowth head of responsible investing for Africa and Middle East said this is really an opportunity to
July 22, 2020 in Investments -
Dubai’s Arabtec awarded $54m Saudi Aramco contract
Contract awarded to Target Engineering Construction Company to replace five storage tanks at Ras Tanura Refinery in Eastern Province A unit of Dubai’s Arabtec Holding has been awarded a SAR200 million ($54m) contract by Saudi Aramco to replace five storage tanks at Ras Tanura Refinery in Eastern Province, Saudi Arabia. The contract, awarded to Target
July 22, 2020 in Business News -
5 best Forex brokers in South Africa along with their pros and cons
1. Exness Exness is a well-regulated SVG, Cyprus and UK-based broker offering the trade in numerous financial instruments such as Forex, Metals, Cryptocurrencies, Energies, Indices, and CFDs from as little as $1. Pros and cons Pros Cons Strictly-regulated global broker No US clients Negative balance protection offered Small amount of tradable financial instruments MetaTrader 4
July 21, 2020 in Investments -
Scaled-down hajj pilgrimage to start July 29, say Saudi officials
This year’s hajj, which has been scaled back dramatically to include only around 1,000 Muslim pilgrims as Saudi Arabia battles a coronavirus surge, will begin on July 29, authorities said Monday. Some 2.5 million people from all over the world usually participate in the ritual that takes place over several days, centred on the holy
July 21, 2020 in Business News -
SA businesses look offshore to ease Covid-19 pain
The Covid-19 lockdown left a trail of devastation across entire industries – but it has also forced many South African businesses to look for new approaches and markets, with a growing number looking to establish offshore operations to create a greater range of options and opportunities. Richard Neal, MD, Sovereign Trust While numerous South Africans
July 21, 2020 in Investments -
Africa’s distributed renewable energy sector still dominated by foreign players
The distributed renewable energy sector in Africa has grown rapidly since 2013, but it has so far failed to include locally-owned companies and initiatives. Finance has overwhelmingly only been accessible for multinational companies that are based in Europe or North America or led by entrepreneurs from these regions, meaning profits are largely not remaining in
July 21, 2020 in Energy -
Etihad Airways to resume flights to Shanghai with weekly service
Etihad said passengers travelling to China will need a negative Covid-19 PCR test result received within 72 hours prior to departure Etihad Airways will resume passenger flights to Shanghai on July 27 next, the airline announced today. The service will operate on a weekly basis initially, with the flight to Shanghai on Mondays, and the
July 20, 2020 in Business News -
Alcohol industry applies for deferment of R5bn in excise tax
The renewed prohibition of alcohol sales with immediate effect has led the South African alcohol industry to apply for a deferment of the payment of over R5bn in excise duties for July and August 2020. ©Alexander Sorokopud via 123RF The total excise due for July is estimated to be R2,514,366,945 while for August the estimated
July 20, 2020 in Manufacturing -
Distressed M&A: You do not have to sell cheaply, but you must move quickly
Here we will continue the discussion on potential challenges and how to navigate them. Adopt a fair and flexible pricing mechanism A key issue when negotiating an M&A deal is the agreed pricing mechanism and related adjustments. There is almost always a gap in expectations on price and even more so in a distressed M&A
July 20, 2020 in Investments -
Meeting the expectations of millennial investors
In South Africa, millennials represent the largest generation to enter the workforce – more than 50% in 2020, and 75% by 2030. The bulk of assets will be managed on behalf of millennials – our “future pensioners”, therefore understanding this increasingly diverse client base is critical. Lebo Thubisi, head of manager research, Alexander Forbes So
July 20, 2020 in Investments -
UAE makes history as space mission to Mars launches from Japan
The first Arab space mission to Mars blasted off Monday aboard a rocket from Japan, after weather delays set back the launch of the probe dubbed “Hope.” A live feed of the launch showed the rocket carrying the unmanned probe, known as “Al-Amal” in Arabic, lifting off from the Tanegashima Space Centre in southern Japan.
July 20, 2020 in Business News -
Expo 2020 Dubai focusing on quality of experience for visitors next year
Next year’s Expo 2020 Dubai will focus less on the numbers through the gate and more on the quality of the experience enjoyed by visitors, according to Reem bint Ibrahim Al Hashemy, director general of the Expo 2020 Dubai office. It was initially estimated that the six-month world showcase, which was originally due to be
July 19, 2020 in Business News -
Thousands in Abu Dhabi volunteer for Covid-19 clinical trials
The Department of Health – Abu Dhabi has revealed that 5,000 people registered for the third phase of the Covid-19 clinical trials in the emirate in the first 24 hours of the system being operational. On Thursday, Abu Dhabi announced it was starting the world’s first World Health Organisation-listed Phase III trial of an inactivated
July 18, 2020 in Business News -
Emirates airline says social distancing on aircraft ‘nice’ but unrealistic
Emirates airline has said it was unrealistic to establish social distancing on aircraft by leaving seats empty to curb the spread of coronavirus, as the cost would be too high to bear. The Middle East’s largest carrier, which operates a fleet of 270 wide-bodied aircraft, halted operations in late March as part of global shutdowns
July 18, 2020 in Business News -
Booking required for laser-based Covid-19 testing at Abu Dhabi-Dubai border
Test costs AED50 and is now available at the last exit on Sheikh Zayed Road before the Ghantoot checkpoint Authorities have introduced a booking system for the laser-based DPI screening used to test people for Covid-19 at the Abu Dhabi-Dubai border. The new Covid-19 screening facility was launched earlier this week, but has proven to be
July 17, 2020 in Business News -
M&A in Africa: Bleak skies overhead, but the future looks brighter – Part 1
Mergers and acquisitions (M&A) have decreased across Africa in the first half of 2020 in terms of both volume and value, with some exceptions in Nigeria. Going forward, dark clouds remain over the M&A market in Africa in the short-term, with economic uncertainty likely to cause a reduction in foreign investment in Africa. However, recent
July 17, 2020 in Investments -
The risks and rewards when opting to buy off-plan
With the repo rate currently sitting at an unprecedented low, buyers and investors are caught between buying off-plan vs. buying an existing property. Buying off-plan, a term that refers to buying into a property or development before it has been built, is an attractive investment opportunity, however, buyers need to do their homework prior to
July 17, 2020 in Property & Real Estate -
Dubai holds first ‘real life’ business conference after shutdown
“Don’t touch the screen!” warned an organiser as participants attempted to print their badges, via barcodes sent to their phones, at Dubai’s first “real life” business conference since the coronavirus shutdown hit in March. Dubai hosts dozens of conventions every year, from political events to technology and lifestyle forums, but for months the virus forced
July 17, 2020 in Business News -
Surviving a crisis depends on how quickly you adapt
Most businesses have been on one end or the other of the scale during this global crisis. On the one hand, some have been fortunate enough to be producing a service or product that has been in lockdown demand while others fall on the dismal end of the scale, suspended and wading their way through
July 16, 2020 in Investments -
Saudi Arabia’s Red Sea development dreams begin to take shape
While the global tourism industry is reeling from the effects of Covid-19 on international travel and travellers choose to stay put, one of the most ambitious luxury leisure developments in the world is quietly taking shape in a corner of Saudi Arabia rightly described as the last hidden gem in the world. Jola Chudy speaks
July 16, 2020 in Business News -
De-risking investments to boost Africa’s renewable energy transition
Renewable energy represents the most competitive and secure solution to fuel Africa’s socio-economic transformation and ensure electricity access to all African households and businesses, but investments remain well behind the required levels. Despite its enormous potential in terms of resources, Africa counts for only 2% of global renewable energy capacity additions in the last decade.
July 16, 2020 in Energy -
Aramco chemicals deal delay hits Reliance Industries shares
Reliance Industries Ltd.’s deal to sell a stake in its oil-to-chemicals business to Saudi Aramco is delayed, pushing down the Indian conglomerate’s shares on the day its chairman announced a $4.5 billion transaction with Google. “Due to unforeseen circumstances in the energy market and the Covid-19 situation, the deal has not progressed as per the
July 15, 2020 in Business News -
Distressed M&A: You do not have to sell cheaply, but you must move quickly
While it is too early to know the full impact of Covid-19 on the economy, we are seeing that lockdown restrictions in South Africa are starting to have a significant impact on the bottom line of a number of companies. In the coming months, we expect to see more distressed mergers and acquisitions (M&A) resulting
July 15, 2020 in Investments -
Sea Monster makes a huge splash
Animation and gaming company partners with Edge Growth and FirstRand’s Vumela Fund to unlock digital solutions Animation, gaming and AR/VR company Sea Monster today announced the conclusion of a USD1m investment from FirstRand’s Vumela Fund, managed by leading SME Venture Fund Manager Edge Growth, which will change the way corporates tackle training and communication globally.
July 15, 2020 in Investments -
How Egypt banks on renewables to meet expected surge of energy demand
To meet its soaring demand for energy, Egypt is turning to renewable sources. Its targets, if accomplished, will see it become a pioneer in the African energy landscape. But are the plans realistic? Toufik Khitous, business development manager for North Africa, Wärtsilä Energy Business Egypt’s population has now passed 100-million. As one of the most
July 15, 2020 in Energy -
Factors influencing commercial property market
Covid-19 has wreaked havoc on most markets and commercial property is no exception, says Louis van Rooyen, broker for Rawson Properties Somerset West. However, there are still great opportunities for investors who understand the interplay of factors influencing today’s market. Image source: Gallo/Getty “The first thing every investor needs to remember is that property –
July 15, 2020 in Property & Real Estate -
Majid Al Futtaim to open 15 Carrefour stores in GCC by end of 2020
Dubai retail giant Majid Al Futtaim plans to open a further 15 Carrefour stores in the GCC before the end of the year as it looks to meet a target of 50 openings in 2020. Hani Weiss, CEO, Majid Al Futtaim – Retail, told Arabian Business that the openings will include hypermarkets, supermarkets and small
July 15, 2020 in Business News -
US tech firm turns Dubai desert air into bottled water
The Arabian Desert scarcely seems like an ideal place to source drinking water. But an Arizona-based technology firm is doing just that, in what may be the first operation of its kind. Instead of drilling wells or purifying seawater, it will wring moisture from the air to create bottled water at a plant 20 kilometres
July 14, 2020 in Business News -
Abu Dhabi eyes hosting more world class sporting events
Ali Al Shaiba, executive director, DCT-Abu Dhabi, believes “the sky is the limit” when it comes to hosting huge global events in the UAE capital. Abu Dhabi made history on Sunday when it hosted the inaugural UFC Fight Island event, with three titles on the line on the opening night – UFC 251 – and
July 13, 2020 in Business News -
OPEC readies next move in bid to avoid oil taper tantrum
Saudi Oil Minister Prince Abdulaziz bin Salman likes the idea of OPEC+ acting as the central bank of oil. And he expresses admiration for Alan Greenspan, former chairman of the US Federal Reserve. The challenge now confronting the oil producers’ club is one that’s all too familiar to the Fed: how to avoid a “taper
July 13, 2020 in Business News -
UAE Govt support for citizens reached $2bn in 2019
Financial aid and social benefits accounted for 13.4% of total federal government expenditure last year The UAE Government has revealed that financial aid and social benefits to Emirati citizens increased by two percent in 2019 to reach AED7.46 billion ($2bn). Financial aid and social benefits accounted for 13.4 percent of total federal government expenditure last
July 12, 2020 in Business News -
Dubai SME helped over 3,800 Emirati entrepreneurs in 2019
Dubai SME helped 3,871 Emirati entrepreneurs last year to the tune of almost AED170 million ($46.3m) worth of exemptions and incentives. The agency of Dubai Economy, which was launched in 2002, is designed to develop small and medium enterprises (SME), to launch and develop businesses across the emirate. Abdul Baset Al Janahi, CEO of Dubai
July 12, 2020 in Business News -
Fees and fines to be reactivated on UAE visa services
UAE Cabinet approves various amendments on decisions related to the Federal Authority for Identity and Citizenship The UAE will resume charging fees for visa services from Sunday, according to the Federal Authority for Identity and Citizenship (ICA). The process was one of a number of measures relaxed by authorities at the height of the Covid-19
July 11, 2020 in Business News -
Maple Invest mulls Damac Properties acquisition
Maple Invest said it has not made any offer regarding a possible acquisition of Damac Properties Hussein Sajwani’s Maple Invest Co Limited is exploring the potential acquisition of Damac Properties, but insisted no formal offer has been made. In a filing on Dubai Financial Market, Maple Invest said it is “in the process of assessing
July 10, 2020 in Business News -
Lockdown brought property market to standstill in Q2 2020
Results from the RE/MAX National Housing Report Q2 2020 show that the national Covid-19 lockdown brought the local housing market to a virtual standstill during the second quarter of this year as the Deeds Office closed during Alert Level 5 and most of Alert Level 4. This was worsened by real estate services being unable
July 10, 2020 in Property & Real Estate -
Electric vehicles could add to carbon emissions and load shedding: but there’s a solution
It’s more expensive to refuel a petrol vehicle than it is to charge an electric vehicle. GettyImages In generating power, its plants release 512 billion kg of carbon dioxide into the atmosphere annually. The country’s road transport sector also contributes to the problem: it was responsible for 13% of the total share of energy related
July 10, 2020 in Energy -
Emirates airline confirms more lay-offs due to Covid-19 impact
Dubai’s Emirates airline has been forced to lay off more pilots and cabin crew as a result of the impact of the ongoing Covid-19 pandemic, the airline has confirmed. In a statement sent to Arabian Business, an Emirates spokesperson said, “We can confirm that we are still in the process of implementing the redundancy exercise
July 10, 2020 in Business News -
Compare Forex Brokers launches first ever forex brokerage calculator
In the past, it has been almost impossible to work out brokerage when forex trading. This was solved with a calculator taking into account spreads, commissions and more. How does our forex calculator work? Compare Forex Brokers provides practical insights and advice about Forex markets, financial instruments and if not most importantly, the various fees
July 9, 2020 in Investments -
Dubai Summer Surprises starts today with sales, deals and promotions
Dubai Summer Surprises (DSS), the annual shopping festival in the emirate, starts today, bringing a slew of sales, deals, and promotions from across malls, attractions, and leisure destinations for the next seven weeks – until August 29. Here’s a look at what you can expected in the 23rd edition of DSS. Enjoy fireworks at The Pointe for
July 9, 2020 in Business News -
Interconnectiveness sets the tone of post-Covid responsible investment
What started off as a public health crisis in the form of Covid-19 is really started to bear down as a significant economic crisis. Yet, there is a theme of interconnectiveness that runs across climate change, virus pandemics and responsible investing. “We see this manifesting on a number of different fronts,” Tarryn Sankar, head of
July 9, 2020 in Investments -
Growthpoint named overall winner in Investment Analysts Society awards
Along with being voted leader in communication and financial reporting in the property sector category, Growthpoint was also named the overall winner of the Investment Analysts Society of South Africa (IAS) Excellence in Financial Reporting and Communications Awards 2019. Norbert Sasse, group CEO of Growthpoint Properties The IAS represents investment professionals throughout South Africa who
July 9, 2020 in Property & Real Estate -
Rishi Sunak reveals $37bn plan to rescue UK economy
Rishi Sunak set out a radical blueprint to save jobs and pump life into the UK’s coronavirus-battered economy, including tax cuts on home-buying and dining out, and a new bonus for employers who don’t fire their staff. “We face profound economic challenges,” the Chancellor of the Exchequer told the House of Commons on Wednesday, laying
July 8, 2020 in Business News -
Trilateral talks resume on Grand Renaissance hydroelectric project
Egypt, Sudan and Ethiopia are back at the negotiation table to discuss the future of what will be Africa’s largest hydroelectric project, the Grand Renaissance Ethiopian Dam (GERD), but the process threatens to be rocky. Construction on the dam, which Ethiopia is building, began in 2011 on the Blue Nile tributary in the northern Ethiopia
July 8, 2020 in Energy -
FNB, The Unlimited Child partner in distributing masks in KZN
As part of the KZN Maskathon initiative, FNB and RMB are facilitating the donation of masks to 80,000 families from vulnerable communities of the province. FNB has continued to partner with a non-profit organisation, The Unlimited Child, to distribute family mask packs via its validated network of early childhood development centres which include 1,200 creches
July 8, 2020 in Manufacturing -
How property markets are faring as global lockdowns ease
Now that the majority of countries are loosening restrictions, following Covid-19-related lockdowns which negatively impacted the global economy, Dr Andrew Golding, chief executive of the Pam Golding Property group, and Lucian Cook, Savills head of residential research, examine how property markets have responded. Image source: Gallo/Getty The Pam Golding Property group is Savills’ associate partner
July 8, 2020 in Property & Real Estate -
Driving wealth creation through property transformation in SA
Rainmaker Marketing recently hosted a webinar on how to make property investment more achievable, featuring industry leaders who discussed topics such as how to bridge the knowledge gap in property, understanding what subsidies are available, and the buyer misconceptions that exist. It was noted that in order to solve the issue of property transformation and
July 8, 2020 in Property & Real Estate -
Dubai World Trade Centre field hospital bids farewell to last Covid-19 patient
The closure coincides with Dubai reopening its doors for tourists after a four-month shutdown with the hope of reviving the key tourism sector Dubai on Tuesday closed its only field hospital set up at a convention centre to treat coronavirus cases after the last patient, a Japanese national, walked out in good health. Doctors and
July 8, 2020 in Business News -
Saudi Sports for All Federation teams up with WHO to drive physical activity goals
Saudi federation and global body sign partnership agreement across several strategic areas The Saudi Sports for All Federation (SFA) and the World Health Organisation (WHO) have penned an agreement to collaborate on several strategic “health and wellness” plans. The agreement outlines that the SFA will host the Riyadh edition of Walk the Talk, as well
July 7, 2020 in Business News -
Trilateral talks resume on Grand Renaissance hydroelectric project
Egypt, Sudan and Ethiopia are back at the negotiation table to discuss the future of what will be Africa’s largest hydroelectric project, the Grand Renaissance Ethiopian Dam (GERD). Source: Skyscrapercity Construction on the dam, which Ethiopia is building, began in 2011 on the Blue Nile tributary in the northern Ethiopia highlands, from where 85% of
July 7, 2020 in Energy -
Dubai’s KHDA issues detailed school reopening plan
Among measures, all students over six and staff members to wear face masks at all times Dubai Knowledge and Human Development Authority (KHDA) has released a 118-point plan for schools in the emirate to reopen in September. The strict guidelines have been produced in order to ensure a safe return of students after the summer
July 6, 2020 in Business News -
HP setting the tone for sustainability
When a toner cartridge from a laser printer ends up in a landfill, reports note that it can take hundreds of years to decompose, and fewer than 30 percent of ink and toner cartridges are recycled annually. It is a serious issue which is being addressed by one of the foremost producers on the planet,
July 6, 2020 in Business News -
GEMS CEO says parents received up to a third off tuition fees
Dino Varkey, the group chief executive officer of under-fire GEMS Education has claimed that parents received discounts on their school fees of up to 33 percent for the last term. Varkey also said that, with teacher salaries, rents and other essential costs accounting for 90 to 95 percent of the total fixed cost of operating
July 5, 2020 in Business News -
Repatriation flights scheduled for Pakistanis stranded in Dubai
Plans are in place to repatriate 2,000 Pakistanis stranded in Dubai, according to the the Consul General of Pakistan in Dubai. In a video message, the Consul General of Pakistan in Dubai and the Northern Emirates, Ahmed Amjad Ali, revealed that 110 special flights have already left the emirate since April, carrying an estimated 22,000 passengers
July 5, 2020 in Business News -
Abu Dhabi to extend entry restrictions, but allow movement between regions
Abu Dhabi will extend restrictions on people entering the emirate for another week, but will allow free movement for residents between the regions of the emirate from tomorrow morning. The extension of restrictions on entering the emirate means that people can leave Abu Dhabi but must apply for a police permit to re-enter. Those visiting
July 4, 2020 in Business News -
Oil holds near $42 while investors weigh demand against virus
Oil held near $42 a barrel in London as investors weighed signs of rebounding demand against a resurgence in new coronavirus cases. OPEC and its allies are on track to rebalance the oil market and there are encouraging signs of recovery, Saudi Arabia’s Energy Minister Prince Abdulaziz bin Salman told an OPEC+ meeting on Thursday.
July 3, 2020 in Business News -
New trends noted in rental market following travel ban
New trends have emerged in the rental market due to the Covid-19 travel ban, particularly affecting those who had plans to emigrate just before the lockdown started. Fully-furnished, medium-term rentals are becoming increasingly popular and Airbnb homes are moving to the long-term rental market to avoid vacancies. Elaborating on this trend, Jenny de Necker, broker/owner
July 3, 2020 in Property & Real Estate -
Final Virgin Australia bids a key test for ailing airlines
The final bids for Virgin Australia Holdings Ltd. will show how much appetite private investors really have for an airline industry that’s been battered by the coronavirus pandemic. Private equity firms Bain Capital LP and Cyrus Capital Partners LP made final and binding offers for the airline on Monday, administrator Deloitte said in a statement.
July 3, 2020 in Business News -
Khalifa University patents artificial soil technology
The artificial soil technology allows researchers to create soil that resembles that of Ukraine and Thailand Researchers at Khalifa University of Science and Technology have developed ‘artificial soil’ with the necessary ingredients and properties required to grow plans and vegetables in the agricultural sector, according to the UAE’s state-run WAM news agency. A provisional patent
July 2, 2020 in Business News -
Supporting manufacturers through a time of change
Manufacturing is a key driver of job creation and national economies in general. But a component of manufacturing that is often taken for granted is supply chains – the global logistics and transport networks that get manufactured goods from factory to market. Manufacturing has been fundamentally disrupted by the Covid-19 pandemic. But as economies limp
July 2, 2020 in Manufacturing -
First phase of plan to regenerate one of Dubai’s oldest districts near complete
The first phase of a major project to regenerate one of Dubai’s oldest districts is almost complete. Ithra Dubai’s Deira Enrichment Project is in its final stages of completing five districts in phase one of the development, which includes commercial office space, residential and retail spaces. The Deira Enrichment Project encompasses the Waterfront Market, Deira
July 1, 2020 in Business News -
L’Oréal appoints new director of Midrand plant
L’Oréal South Africa has appointed Hlengiwe Mathenjwa as the new director of its Midrand manufacturing plant in Johannesburg, effective 1 July 2020. Hlengiwe Mathenjwa A South African, Mathenjwa takes the helm of the beauty company’s first and largest manufacturing facility in the Africa & Middle East region. L’Oréal’s Midrand plant specialises in haircare, skincare and
July 1, 2020 in Manufacturing -
Saudi Arabia starts $4bn Tourism Development Fund
Saudi Arabia has started a fund with an initial capital of $4 billion to develop its tourism industry as the oil-rich kingdom seeks to diversify its economy and attract more foreign travellers. The Tourism Development Fund will launch a range of equity and debt investment vehicles and has $45bn in memorandum of understandings signed with
July 1, 2020 in Business News -
SAIBPP provides stepping stones for next generation of black property professionals
Through its initiatives, such as its bursary fund and Young Professionals Forum, the South African Institute of Black Property Practitioners (SAIBPP) aims to nurture the next generation of black property leaders and professionals. The organisation also provides property education and coaching, and matches talented students to internship opportunities with corporates. SAIBPP’s Young Professionals Forum CommitteeTop
July 1, 2020 in Property & Real Estate -
Saudi Arabia to impose new import-export measures from July
Kingdom is unhappy with certain countries who they claim are not following international agreements Saudi Arabia is to hit back at countries that are placing restrictions on its exports, with import measures of its own, starting from July 1. A statement from the General Authority for Foreign Trade said that a number of countries continue
June 30, 2020 in Business News -
The African Continental Free Trade Area
The Agreement Establishing the African Continental Free Trade Area (AfCFTA) was brokered by the African Union (AU) and adopted by 44 of its 55 member states on 21 March 2018. By February 2019, all AU countries, save for Eritrea, had become signatories to the AfCFTA, which came into force on 30 May 2019. The AfCFTA
June 30, 2020 in Investments -
Diageo to open its first carbon-neutral distillery
Multinational drinks maker Diageo is building its first carbon-neutral distillery in Lebanon, Kentucky in the United States. The $130m distillery, which will produce Bulleit bourbon, is currently under construction and is expected to be fully operational in 2021. It will be one of largest carbon-neutral distilleries in North America. Reinforcing the beer and spirits producer’s
June 30, 2020 in Manufacturing -
Delivering sustainable energy across Africa
The coronavirus (Covid-19) pandemic has disrupted the operating environment for both the public and private sectors as a result of the unprecedented lockdowns and restrictions put in place by countries to curb infections. To navigate this wave of disruption and thrive in its aftermath, business as usual needs to become business unusual to enable organisations
June 30, 2020 in Energy -
How an unexpected passion for property altered Chelsea Brown’s career path
Chelsea Brown is a student representative at the South African Institute of Valuers (SAIV) Northern Branch executive. A University of Johannesburg alumna, Brown has found her passion in property, especially after recognising the many opportunities the field holds for SA’s youth. Chelsea Brown, student representative, South African Institute of Valuers (SAIV) Northern Branch executive Closing
June 30, 2020 in Property & Real Estate -
Emirates REIT asks for identity of traders on suspicious trades
In May, Emirates REIT said it found evidence of irregular trading activity by certain market participants Emirates REIT has filed an application in the Dubai International Financial Centre Courts to find out the identify of those behind “suspicious trades” in its shares. “Emirates REIT yesterday submitted an application in the DIFC Courts seeking an order
June 30, 2020 in Business News -
Clarity on distribution of unlisted shares
The South African Revenue Service (Sars) recently released Binding General Ruling 54 (BGR 54), which deals with the unbundling of unlisted shares and the impact on non-qualifying shareholders. In particular, section 46 of the Income Tax Act (ITA), which colloquially refers to this unbundling of shares as an “unbundling transaction”, enables a company (the unbundling
June 29, 2020 in Investments -
Louvre Abu Dhabi to re-open June 24
The number of visitors per hour to the iconic museum will be limited to allow for social distancing The iconic Louvre Abu Dhabi is to reopen its doors on Wednesday (June 24). Manuel Rabaté, director of the museum, assured that appropriate health and safety measures have been put in place – including thermal scanning, new
June 29, 2020 in Business News -
Structural reforms must be fast-tracked to increase transformation
The South African Institute of Black Property Practitioners (SAIBPP) notes with concern the recent Supplementary Budget presented by the minister of finance, Tito Mboweni. Tholo Makhaola, president of the South African Institute of Black Property Practitioners (SAIBPP) The minister acknowledges in his speech that the South African economy is expected to experience “the largest contraction
June 29, 2020 in Property & Real Estate -
Saudi Arabia to lift curfew, resume all commercial activities
Mosques in Makkah will open from today but international travel and the Muslim pilgrimage known as Umrah will continue to be banned Saudi Arabia will resume all commercial activities and lift restrictions on movement even as coronavirus cases show no signs of easing. The curfew will be lifted across the nation from 6am on Sunday
June 28, 2020 in Business News -
UAE shoppers opting for contactless payments over cash purchases
UAE shoppers are ditching the cash in favour of contactless payments through the Covid-19 crisis, according to the results of a survey from Dubai Police, Dubai Economy and Visa. Sixty-eight percent of respondents surveyed in the UAE have reduced shopping in-store since the outbreak of the pandemic and 49 percent are shopping online more. When
June 28, 2020 in Business News -
Mubadala eyeing more tech investments after Jio Platforms stake
Abu Dhabi fund looking at India, China and Southeast Asia for possible investments, says CEO Khaldoon Al Mubarak Mubadala Investment Co. is planning more exposure to technology after the Abu Dhabi fund took a $1.2 billion stake in India’s Reliance Industries Ltd.’s Jio Platforms. Technology, in particular med-tech, venture and the broad technology sphere, is
June 27, 2020 in Business News -
Extradition hearing of former Abraaj CEO to start in London
A four-day extradition hearing is set to get underway in London on Monday involving the founder and former chief executive of Abraaj Group, Arif Naqvi. The former Dubai-based businessman is battling against US authorities, who want him to stand trial in America on charges of fraud and money laundering. Naqvi is one of six former
June 26, 2020 in Business News -
Why UAE estate agents and developers need to bridge the technology gap
Technology has undoubtedly paved the way to make our personal lives more comfortable while enabling cost savings and greater efficiency from a business perspective. Healthcare, manufacturing, finance, education, and retail are just a few of the industries that have been positively impacted as a result of technologies such as blockchain, big data, virtual reality (VR),
June 26, 2020 in Business News -
Silver linings for homeowners as economic revival takes centre stage
Finance minister Tito Mboweni’s supplementary budget speech on Wednesday was met with trepidation by many South Africans. The combined effects of the coronavirus pandemic and global economic downturn are expected to see our economy contract by 7.2% in 2020 and gross national debt rise to a predicted 81.8% of GDP by the end of this
June 26, 2020 in Property & Real Estate -
Khalifa Hasan Ali Saleh Al Hammadi appointed chair of Union Properties
Khalifa Hasan Ali Saleh Al Hammadi has been appointed chairman of Dubai-based developer Union Properties. Al Hammadi, who was appointed as vice chairman and chief executive officer of the Dubai Motor City developer in December last year, was elected chairman at the company’s board of directors meeting this week. He is also chairman of Gulfa
June 25, 2020 in Business News -
Local manufacturing incubator to produce Dis-Chem uniforms
In a move to support local manufacturing and small enterprises, Dis-Chem Pharmacies has partnered with corporate clothing group Worksgroup to outsource the production of its staff uniforms via a small manufacturing incubator in Kwa-Zulu Natal. Worksgroup has established incubator groups at its Durban manufacturing plant which sees small pods manufacturing goods for Worksgroup’s customers. Dis-Chem
June 25, 2020 in Manufacturing -
Prioritisation of infrastructure development, public-private partnerships key
Against the backdrop of ongoing measures to address the Covid-19 pandemic in South Africa, the Supplementary Budget 2020 highlighted several key aspects. Dr Andrew Golding, chief executive of the Pam Golding Property group Apart from the health and safety aspects so crucial to reducing the impact of this humanitarian crisis, the prioritisation of infrastructure development,
June 25, 2020 in Property & Real Estate -
Dubai Tourism’s charm offensive to lure visitors back to emirate
Dubai’s tourism authority is ramping up its activities ahead of the return of visitors to the emirate next month. The Department of Tourism and Commerce Marketing (Dubai Tourism) has previously launched #Till We Meet Again and the recently launched #We Will See You Soon campaign, providing up-to-date information on the situation in Dubai. Helal Saeed Almarri, director general, Dubai
June 25, 2020 in Business News -
Furniture manufacturers urged to explore available funding schemes
While the South African furniture manufacturing sector has endured some tough times in recent years, there are still significant financial incentives for high-quality projects. This is the view of two funding specialists who recently addressed furniture manufacturing entrepreneurs and industry stakeholders in a business webinar. Getty “Pre Covid-19, the sector was identified as one that
June 24, 2020 in Manufacturing -
The death of a shareholder: what happens next?
A shareholder can be defined as a person, whether natural or juristic, who owns shares or stock in a company. A person can be a sole proprietor or owner of 100% of the shares, or a part shareholder where for example they own 30% of the shares. But what happens when a shareholder dies? Our
June 24, 2020 in Investments -
Emirates ready to help relaunch Dubai’s tourism industry
The chairman of Emirates Airline and Group, Sheikh Ahmed bin Saeed Al Maktoum, is confident the Dubai-based carrier is ready to play its part in welcoming tourists back to the city from next month. It was announced on Sunday that tourists will be allowed to visit the emirate from July 7 following months of movement
June 24, 2020 in Business News -
Industrial real estate is in high demand, here’s why
Following the implementation of Level 3 lockdown, one particular property sector is making waves and has seen a noticeable spike in activity, and that’s industrial real estate, according to Clint Marais, regional head of Galetti Corporate Real Estate Western Cape. Clint Marais, regional head of Galetti Corporate Real Estate Western Cape “This uptake can be
June 24, 2020 in Manufacturing -
5 truths about digital twins and predictive simulation
With the economy open for business – albeit under constrained operating regulations – manufacturers are faced with a new set of challenges, including how to predict market demand, achieve optimum productivity, and manage workforces in ways that allow for social distancing and other safety measures. Digital twinning and predictive simulation are technology tools that allow
June 24, 2020 in Manufacturing -
Coronavirus: Kuwait announces 641 new cases, four new deaths
Kuwait reported 641 new cases of coronavirus on Monday, taking the total number of infections confirmed since the onset of the pandemic to 40,291. Official spokesperson for the Kuwaiti Ministry of Health, Dr. Abdullah Al-Sanad, revealed that the virus had claimed the lives of four more people over the past 24 hours, with the death
June 23, 2020 in Business News -
Mondelez International announces senior appointments in sub-Saharan Africa
American multinational confectionery, food, holding and beverage company Mondelez International has announced the appointment of long-term employee Nigel Parsons as the president of sub-Saharan Africa (SSA) operations, and Alisdair Sinclair as managing director, South Africa, effective 1 June 2020. Nigel Parsons Parsons joins Mondelēz SSA in a newly created leadership role that will strengthen focus
June 23, 2020 in Manufacturing -
Reserve Bank to the rescue
The full effects and consequences of the lockdown will only be revealed in time, but safe to say the cost to the economy has been extreme and came at a time when the country could least afford it. Strong leadership and a concerted effort from government, labour and business will be required to lift the
June 23, 2020 in Investments -
Timothy Sykes review – Here’s what you should know about the millionaire trader teaching people how to trade stocks
If you’ve ever tried to search online for information on how to trade penny stocks profitably, you’ll most likely have come across Timothy Sykes. The story of how he turned his $12,415 Bar Mitzvah gift money into a trading portfolio worth more than $1.65 million before graduating college has been told and retold several times
June 23, 2020 in Investments -
How well are default regulation strategies holding up in the new normal?
The fallout from Covid-19 is disrupting most sectors and the retirement fund industry is no exception. While the default regulations were implemented to improve South Africans’ dismal retirement outcomes, trustees need to re-evaluate default strategies in a pandemic battered landscape. Poobalan Govender The default regulations impact on three important areas of saving for retirement, in
June 23, 2020 in Investments -
House prices falling despite increased demand
According to Multinet Home Loans, the bond originator has seen an unprecedented increase in home loan submissions since the Level 5 lockdown in April. Multinet Home Loans has seen a 36.57% increase in submissions vs 2019 numbers in June, whilst home prices have shown a real decline of 12% in June so far, taking predicted
June 23, 2020 in Property & Real Estate -
Etihad partners with Austrian health tech company to launch Covid-19 assessment tool
Powered by Medicus AI’s technology and based on a set of 22 questions, the assessment takes less than five minutes to complete Abu Dhabi-based Etihad Airways has partnered with Austrian healthcare technology company Medicus AI to launch a Covid-19 risk assessment tool aimed at making passengers feel safer about returning to the skies. Powered by
June 23, 2020 in Business News -
Sharjah to reopen cinemas, entertainment centres and fitness facilities
Some services will continue to be halted, including massage, sauna and distribution of newspapers and magazines Sharjah’s Economic Development Department (SEDD) announced that cinemas, auction houses, entertainment centres, valet services and fitness facilities in the emirate can re-open with 50% capacity, provided they follow the necessary safety guidelines. The guidelines include taking temperature checks, providing
June 22, 2020 in Business News -
Like economy, housing market recovery dependent on confidence, investment rebound
Indicating the severity of the current economic contraction experienced as a result of the Covid-19 lockdown, finance minister Tito Mboweni is expected to deliver an Emergency Budget on 24 June – just four months after the National Budget speech in February. To put this in some perspective, no such measure was required during the severe
June 19, 2020 in Property & Real Estate -
Steel producer fined R3.6m for contravening sections of Air Quality Act
The Department of Environment, Forestry and Fisheries has welcomed a R3.6m fine handed to a major steel-producing company after it admitted to contravening sections of the Air Quality Act by exceeding the minimum hydrogen sulphide emissions standards. The judgment, said the department in a statement on Thursday, 18 June, sends a strong signal that the
June 18, 2020 in Manufacturing -
SA property prospects as we look beyond Covid-19 lockdowns
The Covid-19 crisis has changed the world a lot, perhaps less through introducing new trends and more through speeding up old trends. South Africa already had a recession and a mildly correcting property market prior to 2020. Covid-19 merely made this recession deeper. Remote work and online shopping were emerging global themes prior to Covid-19
June 18, 2020 in Property & Real Estate -
New recovery textbook needed for post-Covid real estate landscape
Clawing back from the devastating global cascade of the sub-prime collapse of 2008/09, the real estate market had a tried and tested economic textbook roadmap and traditional real estate models to successfully guide the process. However, as the modern business world has never had to contend with a global pandemic, the real estate industry, still
June 17, 2020 in Property & Real Estate -
Covid-19 is threatening hotel development growth in Africa
As an important industry in Africa, tourism has created both direct and indirect jobs – sustaining foreign currency earnings. According to the 12th annual survey by W Hospitality Group, African hotel development had returned to growth at the start of 2020, with more than 78,000 rooms in 408 hotels in the pipeline; however, with the
June 17, 2020 in Property & Real Estate -
Saudi construction giant Binladin slashes jobs and pay to cut costs in half
Saudi Binladin Group cut jobs and reduced staff salaries as Saudi Arabia’s biggest construction firm navigates the fallout of the coronavirus pandemic. The Jeddah-based conglomerate put thousands of employees on indefinite, unpaid leave as it weighs options to lower costs by as much as 50%, according to people with knowledge of the matter. The group
June 16, 2020 in Business News -
Abu Dhabi teacher dies from coronavirus
Anil Kumar was a Hindi teacher at Sunrise School in the Musaffah area of the capital A teacher in Abu Dhabi has died from coronavirus. Anil Kumar, a 50-year-old Hindi teacher at Sunrise School in the Musaffah area of the capital, had been suffering from Covid-19 for the past two weeks and was admitted to
June 15, 2020 in Business News -
CEO Luc-Olivier Marquet on Unilever’s response to Covid-19
Unilever South Africa is one of the country’s largest producers and suppliers of hygiene, personal care and food products. Many of its brands – including Lifebuoy, Domestos and Handy Andy – form part of South Africans’ everyday defence against the coronavirus. Luc-Olivier Marquet, Unilever South Africa CEO Unilever SA CEO Luc-Olivier Marquet told Bizcommunity that
June 15, 2020 in Manufacturing -
#ACACaresCovid19: The economics of advertising – ACA invests in futures
As it has in just about every other area, the coronavirus is instigating opportunities for fast-tracked and often overdue change within the advertising, marketing and media sector. As an endorsed protector and elevator of industry interests and policies, since 2002, the ACA is spearheading and making possible Bizcommunity’s weekly series, acknowledging South Africa’s creative marketing
June 15, 2020 in Manufacturing -
#ACACaresCovid19: The economics of advertising – ACA invests in futures
As it has in just about every other area, the coronavirus is instigating opportunities for fast-tracked and often overdue change within the advertising, marketing and media sector. As an endorsed protector and elevator of industry interests and policies, since 2002, the ACA is spearheading and making possible Bizcommunity’s weekly series, acknowledging South Africa’s creative marketing
June 15, 2020 in Manufacturing -
Bahrain mulls oil, gas transfer following Saudi Aramco IPO success
Bahrain may transfer some of its oil and natural gas assets into a proposed state-run fund in which it could sell shares to investors, as the smallest Gulf Arab country seeks to balance its budget. The government is working on the project and may decide to proceed with it later this year, Oil Minister Mohammed
June 15, 2020 in Business News -
Dubai’s dreamcatchers hoping to spark a global movement
OHM Live, one of the biggest television productions ever put together in Dubai, takes place on May 29. The 24-hour celebrity fundraiser features stars such as Jason Derulo, CeeLo Green, Dua Lipa, Deepak Chopra and Sonam Kapoor Ahuja, and across the broadcast they will be seeking to raise funds for COVID19 relief efforts around the
June 14, 2020 in Business News -
Kuwait imposes mandatory wearing of masks in public
Residents in Kuwait who don’t wear a face mask in public risk a jail sentence or a fine of thousands of dollars. The country’s health ministry has revealed those who fail to adhere to the strict guidelines could be looking at up to three months in prison or be hit with fines of up to
June 13, 2020 in Business News -
Arabian Business launches paywall – Arabianbusiness
Arabian Business is announcing the launch of a paywall, with an initial two months free trial for readers who sign up in the next four weeks. The paywall will come into effect on June 26 next, after which users will be allowed to read 5 articles a month for free. After the monthly quota is
June 13, 2020 in Business News -
Covid-19: UAE announces 822 new cases
UAE health authorities have detected 822 new cases of Covid-19 in the country, the country’s Ministry of Health and Prevention (MoHAP) announced on Monday. The new cases bring the UAE’s total to 30,307. Additionally, three more fatalities were reported, bringing the UAE’s death toll to 248. The new detections came as after country conducted 41,202
June 12, 2020 in Business News -
Saudi Arabia to ease Covid-19 restrictions from May 28
Saudi Arabia will begin easing lockdown measures as it moves to the next phase of its fight against the Covid-19 pandemic in the kingdom, officials said on Monday. According to Dr. Tawfiq Al Rabiah said that, going forward, Saudi Arabia will expand mass testing to detect cases early, as well as expand hospitality capacity for
June 11, 2020 in Business News -
How to invest in things you believe in
The Covid-19 induced short-term return to single-use plastic is just a blip, according to our sustainability experts, what the world needs is to urgently ramp up disclosure, ambition and action. Ebeth van Heerden So, as part of my effort to live more sustainably, I’ve been looking into the various sustainable investing strategies out there. Believe
June 11, 2020 in Investments -
Kuwait sees slight drop in Covid-19 cases
Kuwait has seen a slight drop in Covid-19 cases in the past 24 hours. The Gulf country confirmed a lower number of new Covid-19 cases at 665 today compared to yesterday’s 838 number. This takes the overall number of cases in the country to 21,967. The Kuwaiti Ministry of Health also announced nine more deaths
June 11, 2020 in Business News -
ATM to focus on Chinese outbound travel market
The upcoming Arabian Travel Market (ATM) Virtual event will see Middle East travel professionals looking at how and when to start planning for inbound Chinese visitors. The event taking place from 1-3 June 2020 will feature the Virtual China Tourism Forum about the potential of the Chinese outbound leisure market following the country’s easing of
June 10, 2020 in Business News -
Covid-19 will not define the property market’s future
Broll hosted its inaugural webinar late last month themed Africa 2020: A new vision. The discussion focused on strategies and solutions that can be employed during the recovery phase of the Covid-19 crisis, and the emerging new business environment in Africa. A common thread in the conversation was that Covid-19 will not define the property
June 10, 2020 in Property & Real Estate -
Business unusual for property developers during Level 3 lockdown
Historically, property has been an asset class that has managed to withstand fluctuating market forces, being a far more resilient investment type than most – and less volatile than the stock market. So how will the property sector withstand the Covid-19 pandemic, with most parts of the world not yet over the infection peak? Image
June 10, 2020 in Property & Real Estate -
Fitness platform Les Mills sees 700% uptick in MidEast users since Covid-19
Fitness giant Les Mills International has seen a 700% uptick in subscribers to its on demand digital platform in the Middle East and 800% globally since the beginning of the Covid-19 pandemic, according to Glen Stollery, CEO of Les Mills International in the Middle East, India and Africa. The New Zealand-based company is best known
June 10, 2020 in Business News -
General Electric’s exit from lighting business is a warning to other players in the sector
GE ad from the 1940s, showing an incandescent bulb and a fluorescent tube, both inventions of the company. GE While a licensing agreement means that consumers will continue to see GE-branded light bulbs in stores, the sale marks the end of an era for this quintessential giant of the illumination industry. GE traces its roots
June 9, 2020 in Manufacturing -
Planning is more important than prediction for Africa’s property sector now
An understandable response to the economic fallout of Covid-19 is for governments, industries and businesses trying to predict the path that the global economy will take in the coming months and years. However, given that this is a challenging exercise at best, it’s probably a better investment of valuable time and effort to ponder the
June 9, 2020 in Property & Real Estate -
Bidvest Mobility expands its range of intrinsically safe mobile computers for hazardous applications
The range of intrinsically safe mobile computers and accessories include the global Ecom and Honeywell brands, with many of the products complying to safety standards, such as ATEX Zone 2/22 and Div. 2, as well as Zone 1/21 and Div.1. According to Luke Dunstan, Executive Head of Sales at Bidvest Mobility, intrinsically safe mobile devices
June 9, 2020 in Manufacturing -
Galleria Mall to waive rent for tenants in Q2 amid Covid-19
Retailers continue to operate at 30% capacity in line with safety measures to curb the spread of coronavirus Abu Dhabi’s Galleria Mall is waiving rent for tenants in Q2 from April to June to help retailers survive economic challenges caused by the coronavirus pandemic, such as weeks of shut downs in March and April, and
June 9, 2020 in Business News -
Omni receives accreditation to deliver training and assessment through flexible online solutions with the W & R SETA
A feat for Omni HR Consulting, operating as an accredited private college within the framework of the Department of Education and Sector Education Training Authority landscape since 2009. Traditional learning methods, such as face-to-face classroom delivery, paper-based assessment and moderation practices has been the order of the day. Omni has been progressively working and collaborating
June 9, 2020 in Manufacturing -
Kuwaiti ship held off Australia amid Covid-19 concerns
Six crew members on board the Al Kuwait have reportedly tested positive for Covid-19 A Kuwaiti livestock ship has been held off Australia’s coast after a number of crew members tested positive for Covid-19, according to media reports. According to Reuters, the Al Kuwait departed the Middle East on May 7 and docked near Perth
June 8, 2020 in Business News -
New vision for real estate in which all can win
The real estate industry will no doubt look very different by the end of this year to the way it looked before the Covid-19 pandemic – but in many cases, the changes made will be extremely positive for estate agents and principals as well as their clients because of the potential for both better service
June 8, 2020 in Property & Real Estate -
Investing for Roubini’s Greater Depression
In September 2006, economics professor Nouriel Roubini warned an incredulous audience of fellow economists at the International Monetary Fund (IMF) that the US housing market was at risk of collapsing – an event that could ruin the global financial system. This was at a time when the global economy had recorded its fastest patch of
June 8, 2020 in Investments -
Revealed: businesses that can operate as Dubai eases Covid-19 restrictions
Businesses that begin operating again as Dubai begins easing restrictions will have to follow strict guidelines to prevent the spread of Covid-19, authorities that have announced. On Wednesday, a number of businesses will begin to reopen, including gyms, cinemas, and outsourced government centres. Additionally, the airport will be open for UAE residents and transit passengers
June 8, 2020 in Business News -
Covid-19: Dubai gyms to operate at 50% capacity, masks mandatory
Gyms will only be able to operate at 50 percent capacity, with exercise participants wearing masks and strict social distancing guidelines in place, the Dubai Sports Council has announced. From Wednesday, gyms and sports facilities will be allowed to operate as part of a wider easing of restrictions put in place to combat the spread
June 7, 2020 in Business News -
UAE completes first phase of wildlife conservation red list
UAE National Red List indicates that the UAE is home to 78 species of mammals, of those 59 are terrestrial and 19 marine The UAE’s Ministry of Climate Change and Environment has announced the completion of phase one of the UAE National Red List project. Once completed, the list will provide updated information on the
June 6, 2020 in Business News -
UAE announces 779 new Covid-19 cases, 5 deaths
UAE health authorities have detected 779 new cases of Covid-19 after conducting over 28,000 tests, the Ministry of Health and Prevention (MoHAP) has announced. According to the MoHAP, the UAE’s total number of confirmed cases is now 31,806. Five additional fatalities were also reported. The UAE’s Covid-19 death toll now stands at 253. Additionally, 325
June 6, 2020 in Business News -
GEMS Education threatens to deactivate e-learning over non-payment of fees
Dubai-based operator has also warned it won’t provide transfer certificate or final report card and students may have to repeat the year Dubai schooling giant GEMS Education is threatening to pull the plug on online learning for any students whose term three fees have not been paid. Parents from GEMS Metropole, in Motor City, have
June 5, 2020 in Business News -
How West Africa can expand power supply and meet climate goals
The demand of power in West Africa is rising. Sebastian Sterl The challenge in creating flexible, reliable and affordable energy supply systems with renewables lies in the very different circumstances across countries and regions. Planning and expanding renewable power must consider countries’ local resources and their existing and planned infrastructure. This becomes even more interesting
June 5, 2020 in Energy -
Overview of SA Shares
SA Shares was established in 2005 in order to provide extensive insights and investment advice regarding high ranking JSE-listed companies and has since expanded into a number of relevant and lucrative investment options, including Forex and crypto currencies. The company operates as an independent South African brokerage and news platform and is successfully run by
June 5, 2020 in Investments -
Dubai details guidelines for malls, cinemas and offices as Covid-19 restrictions ease
Dubai malls can now operate at 70 percent of the capacity of their common and gross leasable areas as part of the emirate’s easing of Covid-19 restrictions, according to a circular from Dubai Economy. As per the new rules, retail and wholesale traders can also now increase their staffing to 70 percent, up from the
June 5, 2020 in Business News -
Covid-19: Kuwait to end strict curfew
More details on Kuwait’s plans to return to normal life will be released on Thursday Kuwait’s government will not extend its full curfew after Saturday, May 30 as it looks towards reopening the economy and returning to normal life, Deputy Prime Minister Anas Al-Saleh said on Monday. In an online news conference, Al Saleh –
June 4, 2020 in Business News -
Kuwait: 608 new Covid-19 cases, 7 deaths
Kuwaiti authorities have announced 608 new confirmed cases of Covid-19 in the country, according to the state-run Kuwait News Agency (KUNA). Kuwait’s total number of coronavirus cases now stands at 22,575. Additionally, seven more fatalities were reported. Kuwait’s Covid-19 death toll now stands at 172. On Monday, Kuwaiti Deputy Prime Minister Anas Al-Saleh announced that
June 3, 2020 in Business News -
EquityMaven understands the true value of your business
Sean Rule Whether it’s someone selling or buying a business, raising capital or planning an inheritance, it became clear to me that there was an urgent need for more affordable and rapid valuations. This has become even more relevant with the onset of the coronavirus pandemic when many SMEs are going through significant changes and
June 3, 2020 in Investments -
UAE’s FTA postpones ban on e-cigarettes, waterpipes without digital tax stamp until 2021
The UAE’s Federal Tax Authority will postpone a ban on the supply, transfer, storing and possession of water pipe tobacco and e-cigarettes that don’t have digital tax stamps until January 1, 2021, it was announced on Tuesday. The ban had been previously scheduled to come into effect on June 1, 2020. The scheme is aimed
June 3, 2020 in Business News -
Oman residents arrested, fined for flouting Covid-19 restrictions
Oman has arrested and fined a number of people throughout the country for flouting restrictions put in place to combat the Covid-19 pandemic, according to local media reports. On Monday, the Times of Oman reported that seven Omani nationals were taken into custody by police in South Al Sharqiyah Governorate. “South Al Sharqiyah Governorate Police
June 2, 2020 in Business News -
South Africa must get ready for an inevitable loosening of trade ties with the US
In six months’ time the world’s gaze will be trained on what is gearing up to be a contentious and hotly contested presidential election in the US. Irrespective of who emerges victorious between the incumbent President Donald Trump and the Democratic nominee Joe Biden South Africa needs to start thinking about what it stands to
June 2, 2020 in Investments -
South Africa: Some hope for REITs
It is well appreciated that the economy as whole has been hard hit by the lockdown measures introduced to mitigate the spread of Covid-19. Real Estate Investment Trusts (REITs) have not been immune to this and many are facing a significant uphill battle when it comes to maintaining cash flows as a result of the
June 1, 2020 in Investments -
Dave Govender takes helm as CEO of Bravo Group
Dave Govender has been appointed CEO of Bravo Group, Africa’s largest manufacturer of furniture brands such as Sealy, Edblo, Gommagomma, Grafton Everest and La-Z-Boy. The appointment is effective from 1 June 2020. Dave Govender Greg Boulle, Bravo’s CEO since 2014, will remain with the company until his retirement at the end of February 2021. Govender
June 1, 2020 in Manufacturing -
Your own ‘Sofa Bank’
Who would say no to extra money? No one! Moreover, money is never superfluous and is never a burden. Unfortunately, bills don’t fall from the sky. And it would be nice if, with enviable regularity, say, once a day, a bundle of money would fall on you. Imagine with what envy the neighbors will look
June 1, 2020 in Investments -
Saudi Arabia’s Geidea launches beta tests of new digital payment products
Saudi fintech firm Geidea has launched beta testing of new a number of digital payment processing and store management products, the company has announced. In a statement, the company said that merchants will be able to co-create product features alongside Geidea based on their particular needs, as well as give feedback and suggest changes. The
June 1, 2020 in Business News -
Sons of murdered Saudi journalist Khashoggi say ‘forgive’ killers
The sons of murdered Saudi journalist Jamal Khashoggi said Friday they “forgive” the killers of their father, an announcement analysts said effectively grants clemency to five convicted people on death row. Khashoggi – a royal family insider turned critic – was killed and dismembered at the kingdom’s consulate in Istanbul in October 2018, described as
May 31, 2020 in Business News -
Mpact expands face shield range – adults, kids, hardhat shields and respiratory masks
The safety of our communities is a top priority for us at Mpact. We have further expanded our face shield range and will be launching a respiratory mask during the course of June; ready for the re-opening of the many industries under lock down level three. This innovative business approach puts us at the forefront
May 29, 2020 in Manufacturing -
Post-lockdown commercial property trends – early indications
In the last week or so, my team has noticed a number of early trends emerging in the commercial property market as more and more companies prepare to get out of their lockdown state and start preparing to get back to work. Image source: Gallo/Getty The office market: Clients expressed a definite need to downscale
May 29, 2020 in Property & Real Estate -
a long recovery, but opportunities for some
Having worked in the commercial property sector for many years, let me state a truth universally acknowledged, but often overlooked: we will come through this, and the sector will recover from the significant knocks its faced recently as a result of the Covid-19 pandemic. Image source: Gallo/Getty Historically, and despite the odds, property is an
May 29, 2020 in Property & Real Estate -
Surviving Covid-19 – Can I use my commercial property to unlock value?
In good times, many businesses choose to own their own property and rent to themselves. In this way, being an owner-occupier is often a sound strategy as you pay your own mortgage and build up an income-generating asset. You are secure in the fact that the property is your own and thus have security of
May 28, 2020 in Property & Real Estate -
Emergency measures and investor-state arbitration claims
The unprecedented nature of the Covid-19 pandemic has re-kindled debates around the appropriateness of investor-state dispute settlement (ISDS) provisions in bi- and multi-lateral investment treaties. The global Covid-19 pandemic has forced governments the world over to take extraordinary and necessary measures to bolster public health responses in an effort to protect their citizens. Indeed, the
May 27, 2020 in Investments -
Ethics in a time of crisis
As part of Saica’s Leadership in a Time of Crisis webinar series, Professor Deon Rossouw, CEO of The Ethics Institute, spoke about the importance of sticking to your values during a crisis. Professor Deon Rossouw If there’s any situation that’s going to show your true colours, it’s a crisis. At Saica we are passionate about
May 26, 2020 in Investments -
The synthesis of the most complex technologies gives us a simple solution, with world-scale potential
While the whole world is shaking from negative news, ranging from the pandemic of the coronavirus Covid-19, to numerous disasters in different areas all around the world, to the stock market crashes and the global crisis in general, a silver lining has emerged among the clouds in sunny Panama, and it will probably affect everyone.
May 26, 2020 in Investments -
Why Ford, Chanel and other companies pitch in during a crisis
But, judging by how many non-medical companies have voluntarily stepped up to shift their manufacturing might to produce healthcare supplies – including GM rival Ford – it seems hardly necessary. Fashion brands such as LVMH, Chanel and L’Oreal are transforming their factories to mass produce face masks. Spirit and beer makers Anheuser-Busch, Diageo, Molson Coors
May 26, 2020 in Manufacturing -
How to invest R3m into offshore property
For those of you wondering “How should I invest R3m in overseas property?”. This article, sponsored by One Touch Investment, will set out the steps of how to invest R3m in property. Do not fret if your budget won’t stretch to R3 million… some sage investment options are provided for those with lower amounts of
May 25, 2020 in Property & Real Estate -
With every challenge, therein lies an opportunity
As part of our #LockdownLessons series, Bizcommunity is reaching out to South Africa’s top industry players to share their experience of the current Covid-19 crisis, how their organisations are navigating these unusual times, where the challenges and opportunities lie, and their industry outlook for the near future. We chatted to Lerato Pooe, general manager of
May 25, 2020 in Property & Real Estate -
Another cut in the repo rate
The Monetary Policy Committee (MPC) once again voted in favour of lowering the repo rate this month by 50bp to 3.75%. The policy rate has lowered by 2.75% this year, with a cut every month apart from February, taking interest rates to levels last seen in the early ’70s. “Rates have been lowered aggressively, both
May 22, 2020 in Investments -
PAMSA bursary, research programme application extended
The Paper Manufacturers Association of South Africa (PAMSA) has extended the application deadline for its Masters of Engineering (M.Eng.) bursary and research programme until 22 June. The programme offers eligible BSc chemical engineering final-year students or graduates the opportunity to further their studies at participating universities by way of an R260,000 bursary over two years.
May 22, 2020 in Manufacturing -
Planning amid the crisis is vital
The coronavirus pandemic has had a tremendous impact on business, and as a result, it has created significant uncertainty about what lies ahead. This unknown is crippling business leaders from making decisions or taking strategic action. However, taking action and planning now, in the midst of the crisis, is vital for survival. “Businesses need to
May 21, 2020 in Investments -
Mauritius on EU high risk list
News that Mauritius was added to the EU list of high-risk third countries on 7 May 2020 has understandably caused much consternation amongst fund managers who have fund structures and investment holding vehicles domiciled in Mauritius. While this is certainly a cause of concern, the following should be borne in mind: This is not new.
May 20, 2020 in Investments -
Continued support needed from government, corporates, ordinary citizens
As part of our #LockdownLessons series, Bizcommunity is reaching out to South Africa’s top industry players to share their experience of the current Covid-19 crisis, how their organisations are navigating these unusual times, where the challenges and opportunities lie, and their industry outlook for the near future. Njombo Lekula, MD at PPC We chatted to
May 19, 2020 in Manufacturing -
Tertius Carstens named CEO for PepsiCo sub-Saharan Africa
Tertius Carstens, the current CEO of Pioneer Foods, has been appointed CEO of PepsiCo sub-Saharan Africa (SSA) with immediate effect. Tertius Carstens The appointment follows the $1.7bn acquisition of Pioneer Foods in March 2020. The sub-Saharan Africa headquarters will be based in South Africa, which the company plans to leverage to expand and drive profitable
May 19, 2020 in Manufacturing -
Investing during Covid-19 – SAICA
At SAICA’s Leadership in a time of crisis webinar series, Investec’s Chief Investment Strategist, Chris Holdsworth, shared insight on how the pandemic is shaping investment strategies. As if there isn’t enough to worry about during the coronavirus pandemic, many people have seen their investments tank over the past few weeks. Chris Holdsworth, Chief Investment Strategist
May 18, 2020 in Investments -
South Africa is a legal tax haven
South Africa is currently enjoying the status of a tax haven – a bold statement, I admit, and one that some might think outrageous, but if you break down the monetary calculations of a Section 12J investment, you will realise the glaring opportunity too. Zane de Decker, MD of Flyt Property Investment I’m still quite
May 18, 2020 in Investments -
Namibia’s plans for greater energy security
To improve its energy security, Namibia is planning to grow its upstream industry by reviewing its policies in a bid to court private sector investors. Namibia is heavily reliant at present on electricity imports from the Southern African Power Pool (SAPP), which is increasingly under pressure from growing demand in the region. Tom Alweendo, Namibia’s
May 18, 2020 in Energy -
Opportunity to press the reset button
As part of our #LockdownLessons series, Bizcommunity is reaching out to South Africa’s top industry players to share their experience of the current Covid-19 crisis, how their organisations are navigating these unusual times, where the challenges and opportunities lie, and their industry outlook for the near future. We chatted to Morag Evans, CEO at Databuild,
May 18, 2020 in Manufacturing -
Proudly SA expands portal to include locally-made sanitisers and detergents
Proudly South African has extended the product offering on its portal to include locally produced hand sanitisers, surface disinfectants and detergents. “As South Africans gradually return to the workplace, the need for a reliable and local source of products which comply with proper health and safety standards is expected to spike and to last throughout
May 15, 2020 in Manufacturing -
How to get started with Forex Trading in South Africa
The trading of currencies has a history that can be traced back to the middle ages when currency had been traded through international banks and thus aided Europeans in spreading the trading of currency throughout both Europe and the Middle East. The Gold Standard Monetary System was created in 1875 and this considered the most
May 15, 2020 in Investments -
Manage risk appropriately, stay positive, look for solutions
As part of our #LockdownLessons series, Bizcommunity is reaching out to South Africa’s top industry players to share their experience of the current Covid-19 crisis, how their organisations are navigating these unusual times, where the challenges and opportunities lie, and their industry outlook for the near future. Adele Naidoo, head of human resources at JoJo
May 15, 2020 in Manufacturing -
Retail property’s competitive disadvantage – an overhang from pre-2008
In a previous note, we indicated that, in the post-lockdown recessionary period we would likely see the direct economy-related pressures being more severe on the industrial property sector, via the highly cyclical manufacturing sector along with economy-wide inventory decline, than on the retail property sector, whose key economic driver, namely the mainstream retail sector, typically
May 14, 2020 in Property & Real Estate -
Charting a course for post-Covid retail regeneration
The world is pivoting on an axis of uncertainty right now as many countries, including our own, start the process of moving from restricted living into precautionary living. As a result, there are likely to be significant new and adjusted consumer behaviour and consumption dynamics, many of which are likely to be rebalanced and fundamentally
May 14, 2020 in Manufacturing -
Winter clothing directives preceded by detailed consultations
A statement by Anthony Thunstrom, chair of the National Clothing Retail Federation (NCRF) and CEO of TFG. The announcement made [on Tuesday] by the Department of Trade, Industry and Competition regarding the finalisation of the clothing, footwear and bedding that may be sold during Stage 4 of lockdown, was preceded by detailed submissions made by
May 14, 2020 in Manufacturing -
A sneak-peek at the future of crypto asset regulation in South Africa
The Intergovernmental Fintech Working Group (IFWG) has released its long-awaited position paper on crypto assets following the initial consultation paper published in 2019. The IFWG was established in 2018 and is made up of regulators representing different South African regulatory regimes, from financial services and banking regulators such as the Financial Sector Conduct Authority and
May 13, 2020 in Investments -
BT-Industrial signs up as SAPPMA member
BT-Industrial (BTI) recently signed up as a member of the Southern African Plastic Pipe Manufacturers Association (SAPPMA). Kgomotso Maphai, executive – marketing, sales and logistics, BT Industrial According to Kgomotso Maphai, BTI’s executive in charge of marketing, sales and logistics, the company made the decision to start manufacturing its own HDPE pipes in 2017 in
May 13, 2020 in Manufacturing -
Exchange rate in SA – Is there any better time to invest than the present?
The exchange rate between the rand and other currencies continues to fare poorly. Despite some uplift due to the election of Ramaphosa, it has failed to do much better. It seems for the long term it will not, is there a better time to consider investing elsewhere apart from now? Or do we just adopt
May 12, 2020 in Property & Real Estate -
#LockdownLessons: Save where you can, cut costs where you must
As part of our #LockdownLessons series, Bizcommunity is reaching out to South Africa’s top industry players to share their experience of the current Covid-19 crisis, how their organisations are navigating these unusual times, where the challenges and opportunities lie, and their industry outlook for the near future. Grant Smee, MD of Only Realty and founder
May 7, 2020 in Property & Real Estate -
How did the Middle East best workplaces respond to the Covid-19 Pandemic?
Employers across the region are working to address the economic challenges that the outbreak of Covid-19 has had on their financial health. Recently, Great Place to Work Middle East announced its annual ranking of the best workplaces in the UAE and the Kingdom of Saudi Arabia, and it’s no surprise that those list in the
May 7, 2020 in Business News -
Alshaya Group to bring Canopy by Hilton brand to Kuwait
Alshaya Group has revealed plans to bring the Canopy by Hilton hotel brand to Kuwait. Canopy by Hilton Kuwait will be located on Arabian Gulf Street in the popular Bneid Al-Gar area. Development of the hotel is expected to start shortly, with opening planned for late 2022. “Canopy by Hilton responds to a growing customer
May 6, 2020 in Business News -
JLL Q1 2020 report outlines implications of Covid-19 for real estate
According to JLL’s recently released South Africa Real Estate Market Performance Q1 2020 report, most real estate sectors across the market have softened with the exception of the industrial sector, which has recorded a strong performance in Q1 2020. The report outlines the implications that Covid-19 will have on major sectors across the country. As
May 6, 2020 in Property & Real Estate -
Patel meets with clothing and textile industry
As 1.5 million workers in the South African economy returned to work this week, Trade, Industry and Competition Minister Ebrahim Patel has met with representatives of the clothing textile, footwear and leather sector. Getty Monday’s virtual meeting with the sector was held to review the readiness of shops and factories for the new level four
May 6, 2020 in Manufacturing -
Covid-19: UAE authorities direct emirates to explore re-opening of malls
The two government bodies responsible for overseeing the UAE’s response to the Covid-19 pandemic said it has directed authorities in country to explore the possibility of re-opening malls. National Emergency Crisis and Disaster Management Authority (NCEMA) and the Ministry of Health and Community Protection, in an update on Twitter this morning, said they “directed the
May 5, 2020 in Business News -
Investmint wants to help SMEs connect with investors
#TheLockdownSeries explores the impact of the Covid-19 pandemic on businesses, how they prepared for lockdown and its impacts on operations and employees, as well as lessons learned that we can take into the post-Covid-19 era. Investmint is an online platform that connects businesses in need of loans with investors looking to invest by means of
May 5, 2020 in Investments -
Now is the time for masterful inaction
Despite the latest S&P ratings downgrade to an eye-watering BB-, there will always be opportunities that offer excellent returns and that can make the bold few very rich, but investors should be wary of the property market.. Gary Paragon, CEO, Paragon Lending Solutions “The global shock caused by this pandemic will take its toll and
May 5, 2020 in Investments -
Ramadan likely to begin in Saudi Arabia on Thursday evening
If the crescent moon is seen, Friday, April 24 will mark the first full-day of Ramadan Ramadan is likely to begin on Thursday evening, April 23, if the crescent moon is sighted, according to Saudi Arabia’s Supreme Court. “Anyone who sights the moon through a telescope or naked eye should inform the nearest court,” the
May 5, 2020 in Business News -
Dubai’s DFSA fines La Tresorerie for ‘serious breaches’
The Dubai Financial Services Authority (DFSA) has announced that it has fined La Tresorerie Limited about $612,790 following “multiple, serious breaches” of regulations, mainly stemming from illegal services that provided cash to clients, it was announced on Thursday. In a statement, the DFSA said that the illegal cash service was “in systematic operation” for almost
May 4, 2020 in Business News -
Corona crisis exerts additional pressure on already-correcting property market
A slowing capital growth trend, into negative territory by 2019, has been in play in recent years. The coronavirus crisis is likely to add momentum to this correcting trend in 2020. Image source: Gallo/Getty Economic growth environment deteriorates sharply Through April, some initial data evidence started to emerge of an even weaker economic situation than
May 4, 2020 in Investments -
Covid-19: Tenant retention remains competitive at 96%
While Redefine Properties saw a 32% fall in its distributable income per share for the six months ended 29 February 2020 to 33.46 cents from 49.19 cents in the prior comparable period, its local portfolio held up well, with the tenant retention ratio at 96%. Image supplied CEO Andrew Konig says given the unprecedented and
May 4, 2020 in Property & Real Estate -
Why downgrading countries in a time of crisis is an exceptionally bad idea
The street market at Mont-Bouët in Libreville, Gabon. The country was one of 10 on the continent downgraded this year. Getty Images This is not the first time ratings agencies have adopted a procyclical approach – that is, one in which bad news is simply piled on bad news. During the 2008 global financial crisis,
May 4, 2020 in Investments -
Joanne Solomon joins SA REIT as CEO
Joanne Solomon has been appointed the first CEO of the SA REIT Association, effective from 1 May 2020. The association represents SA’s publicly traded real estate investment trust sector, with its members comprising all 30-plus listed SA REITs with a market capitalisation of some R300bn. Joanne Solomon, CEO of the SA REIT Association “Joining SA
May 4, 2020 in Property & Real Estate -
Covid-19: Gatherings of more than 10 forbidden during Ramadan in Dubai
Dubai residents will be allowed outside for one outdoor activity, provided it follows the guidelines Dubai has forbidden gatherings of more than 10 people this Ramadan to combat the spread of the Covid-19 pandemic, according to new protocols issued by the Government of Dubai and Dubai Economy. The guidelines state that even in private gatherings,
May 4, 2020 in Business News -
Air Arabia Abu Dhabi to fly when ‘market improves’
Air Arabia Abu Dhabi, the capital’s first low-cost carrier, will start operations once the market conditions improve, the airline’s co-founders said today. UAE’s aviation regulator has awarded the air operating certificate (AOC) to the new airline, which makes it the country’s fifth carrier. The approval means the new carrier – a joint-venture between Abu Dhabi’s
May 3, 2020 in Business News -
Dubai delivery rider killed by drunk driver
A delivery biker was killed after being struck by a drunk driver in Dubai, according to local media reports. Citing Dubai Police, Gulf News reported that the man was stationary at a traffic light on Al Wasl road when the fatal incident occurred. Paramedics arrived at the scene at 9:30pm, but the delivery driver died
May 2, 2020 in Business News -
Majid Al Futtaim launches Carrefour-powered online marketplace
Majid Al Futtaim has launched an online marketplace to provide the company’s shopping mall tenants and other businesses with an e-commerce channel to reach their customers, the company has announced The platform – on carrefouruae.com – has been piloted for six months with third-party sellers. A number of mall tenants have already joined the platform,
May 1, 2020 in Business News -
Embattled Finablr-owned Travelex goes up for sale
BR Shetty has resigned from the board off Travelex, although he remains in place as chairman and majority stakeholder at Finablr The board of Finablr-owned Travelex has decided to seek offers for the forex firm, the company said in a statement to the London Stock Exchange. In the statement, Travelex said that “parties with a
April 30, 2020 in Business News -
S&P sinks South Africa further into the junk
Standard & Poor’s has lowered South Africa’s further into junk status with a “BB-” credit rating because of the “significant adverse implications” of Covid-19 on the country’s already-weakened economy Early efforts to contain the spread of the virus have limited the health impact, but “the Covid-19 health crisis will create additional and even more substantial
April 30, 2020 in Investments -
‘Urgent’ help needed for MENA airlines facing $24bn revenue loss, IATA says
“Urgent” help is needed to help airlines across the Middle East and North Africa, where many are “struggling to survive” amid the Covid-19 pandemic, according to Muhammad Al Bakri, the regional vice president of the International Air Transport Association (IATA). On Thursday, IATA said that MENA airlines could lose $24 billion worth of passenger revenue
April 30, 2020 in Business News -
Brent oil drops to 21-year low as selling pressure intensifies
Oil in London tumbled to the lowest in almost 21 years as the global benchmark was sucked into the rout that sent US futures below zero for the first time ever this week. Brent futures for June delivery lost 15% to trade near $16 a barrel while New York’s West Texas Intermediate fell 5% having
April 29, 2020 in Business News -
Kuwait reports 151 new cases of coronavirus
Kuwait has reported 151 new confirmed cases of coronavirus, bringing the country’s total to 2,399, according to the state-run KUNA news agency. Health Ministry spokesman Dr. Abdullah Al-Sanad said that one death was also reported, bringing the country’s total death toll to 14. The most recent death was identified as a Kuwaiti citizen in his
April 29, 2020 in Business News -
the new imperative for food and beverage manufacturers
To feed the world in a new era of awareness and to sustain their own future, manufacturers need to change their mindsets, adopt next generation processing equipment and methods that will enhance nutrition, boost health – for all – be kinder to the planet, and be consciously capitalistic. The world has an opportunity to reboot
April 28, 2020 in Manufacturing -
Oman tells banks to free loan repayments for three-months
The decision will come into effect in May. Oman’s Central Bank has asked that banks and other financial institutions to freeze repayments for personal and housing loans for a three month period amid the Covid-19 pandemic, the state-run Oman News Agency has reported. The decision will come into effect in May. No additional commission fees
April 28, 2020 in Business News -
Levelling the business playing field in a post-pandemic world
In a South African perspective, there has been but a single life-changing socio-economic crisis in the past century that has had the kind of legacy which the Coronavirus is believed will have, and that is the taunting legacy of apartheid. With this in mind, Covid-19′ impact and subsequent aftermath will require a shift – a
April 28, 2020 in Investments -
Coronavirus: Emirates announces April repatriation flights
Emirates plans to operate a limited number of passenger flights through the end of April to repatriate citizens to several locations in Europe, Africa and Asia, the airline has announced. In a statement, Emirates said that it plans to operate services to the Frankfurt, Germany on April 25, 27 and 29, as well as London
April 27, 2020 in Business News -
DP World sees ‘uncertainty’ in 2020 despite stable first quarter
Group chairman and CEO Sultan Ahmed bin Sulayem said that the impact of the Covid-19 is a ’cause for concern’ but that the sector’s long-term fundamentals remain promising The logistics sector is facing ‘uncertainty’ amid the Covid-19 pandemic despite a relatively stable first quarter for Dubai-based ports operator DP World, according to group chairman and
April 27, 2020 in Business News -
Kuwait to re KFH's acquisition of Bahrain's Ahli United
When first announced in September 2019, the deal was valued at $8.8 billion Source link
April 26, 2020 in Business News -
NMC Health backer weighs strategic options, debt revamp
Abu Dhabi-based KBBO Group, once one of NMC Health Plc’s biggest shareholders, plans to restructure its debt and is weighing strategic options for the business, people familiar with the matter said. KPMG LLP is advising the privately-held investment firm on the asset review along with ways to address the company’s debt load, according to the
April 25, 2020 in Business News -
UAE announces 518 new Covid-19 cases, four deaths
UAE authorities have announced 518 new confirmed cases of Covid-19 in the country, as well as 4 additional deaths. To date, there have been 8,756 confirmed cases of Covid-19 in the country. The UAE’s death toll now stands at 56. According to the UAE’s Ministry of Health and Prevention (MoHAP), the four deaths were all
April 25, 2020 in Business News -
Coronation Fund Managers supports the Solidarity Fund
In response to the president’s call for contributions, 90 employees and the senior leadership from Coronation Fund Managers are pledging a portion of their salaries for a period of three months to the Solidarity Fund. Following the initial announcement of the three-week lockdown, on the evening of Thursday, 9 April, President Cyril Ramaphosa announced that,
April 24, 2020 in Investments -
UAE's FTA extends deadline for VAT filings, payments
The move is valid for the tax period ending March 31 Source link
April 24, 2020 in Business News -
Time for novel way of thinking and doing business
Many models of economic activity will become redundant after Covid-19, including employer-employee relationships. While we are in lockdown, the media around the world are full of speculation about what the short, medium and long term hold for the economy and industrial sectors. People such as CEOs, who have to make far-reaching decisions in this environment,
April 24, 2020 in Investments -
Proudly SA launches marketplace for locally-made face masks
©montian noowong via 123RF The online marketplace links corporate buyers with local producers of masks. Proudly SA has been working on the site over the past week. “This initiative is an effort to support a sector of our economy that is able to meet the current pressing demand for face masks, which we have been
April 24, 2020 in Manufacturing -
Over 450,000 meals donated as part of ’10 Million Meals’ campaign
Over 15,000 donors have pledged 450,000 meals and food parcels online to support those in need during the Covid-19 pandemic as part of the ’10 Million Meals’ campaign. The campaign allows individuals and institutions to make financial and in-kind donations towards providing meals and food parcels to low-income individuals and families across the country during
April 24, 2020 in Business News -
Pepkor donates over R2m towards Covid-19 relief
South African retailer Pepkor is supporting the fight against Covid-19 through a number of initiatives, including donating a portion of senior leadership’s salaries to relief efforts and having its clothing manufacturing division produce face masks and surgical gowns. Pepkor’s Pepclo factory will manufacture approximately 50,000 cloth masks per day. Pepkor, which owns Pep, Ackermans, Tekkie
April 23, 2020 in Manufacturing -
Dubai organises ‘virtual’ sports competitions for Ramadan
On Saturday, April 25 the Dubai Sports Council has organised a webinar featuring former Newcastle United defender Steven Taylor The Dubai Sports Council is organizing a number of ‘virtual’ sports events during the month of Ramadan, including races, it was announced on Wednesday. Among the events is the Ramadan Mubarak Challenge, a virtual running event
April 23, 2020 in Business News -
Newly formed property council to tackle impact of Covid-19
The National Property Practitioners Council (NPPC), consisting of various representative bodies from the South African real estate sector, has been launched. The council aims to act as the national industry representative body in all matters pertaining to the sector. Image source: Gallo/Getty The NPPC is the result of industry-wide consultation to create the most appropriate
April 23, 2020 in Property & Real Estate -
E-sports surge in popularity, exposure amid Covid-19 pandemic
The suspension of sporting events as a result of the Covid-19 pandemic may lead to greater interest and a boost in viewership of e-sports, according to regional industry insiders. Around the world, e-sports has seen a dramatic spike in viewers over the last several months. Amazon’s Twitch streaming platform, saw a 60 percent jump in
April 22, 2020 in Business News -
L’Oréal begins production of hand sanitiser at Gauteng factory
L’Oréal South Africa has started producing hand sanitisers under its beauty brand Garnier at the group’s local factory in Midrand, Gauteng. Credit: Milton Media / L’Oréal South Africa Twenty thousand hand sanitisers from the initial production will be donated to the South African Covid-19 Solidarity Fund to assist: • Healthcare facilities with safeguarding healthcare and
April 22, 2020 in Manufacturing -
100 Beautiful Things showcases SA’s creative design and ingenuity
The V&A Waterfront’s new 100 Beautiful Things initiative celebrates the creativity of the makers behind some of South Africa’s most inspiring projects, products, ideas and experiences. All of the ideas showcased have been created with either compassion, sustainability, future-thinking or local essence at their core, with some being recognised for just simply being beautiful. Hlabisa
April 22, 2020 in Manufacturing -
Navigating uncertainty: Lockdowns and downgrades
Reza Hendrickse. portfolio manager, PPS Investments</span>Investors have recently witnessed a sudden and dramatic shift in the investment landscape, with the unfolding Covid-19 crisis globally, and locally, South Africa’s recent credit rating downgrade to junk, weighing on investor’s minds. Furthermore, the negative oil price shock has also contributed to extreme levels of risk aversion across the
April 22, 2020 in Investments -
Pumping the brakes on FMCG
COVID-19 spreads from person to person through physical contact with contaminated surfaces or objects, or other people carrying the virus. Theoretically, avoiding contact with people or objects with Covid-19 should curb the spread of the virus. Getty But how practical is this when some people have no way of practicing social distancing, when they have
April 22, 2020 in Manufacturing -
Economic support package to prop up ailing economy
President Cyril Ramaphosa’s additional economic support package to address the fallout on the economy from Covid-19 represents a highly substantial raft of measures designed to assisted distressed businesses, households and individuals, adding up to about 10% of South Africa’s GDP. Professor Raymond Parsons The president’s statement recognises that the economic and human costs associated with
April 22, 2020 in Investments -
Coronavirus: UAE announces fee reduction for 94 services, up to 98% discount
The UAE Ministry of Economy has announced a reduction in fees for 94 services, of up to 98 percent, as part of efforts to mitigate the impact of the current coronavirus outbreak. According to a statement, the reductions, worth $31 million to the business sector and to be implemented this year, span a range of
April 22, 2020 in Business News -
UAE completed 95 cloud seeding operations in Q1
National Centre of Meteorology revealed that 2,171 flares were produced by Emirates Weather Enhancement Factory The National Centre of Meteorology (NCM) carried out 95 cloud seeding operations across the UAE in the first quarter of 2020. The NCM revealed that a total of 2,171 flares were produced by Emirates Weather Enhancement Factory. Dr. Abdulla Al
April 21, 2020 in Business News -
Staying ahead of your finances in 2020
If 2020 is the year you’re keen to get ahead with saving or to improve your financial situation, there are several steps you can take. In this guide, we’ll talk about tried and tested methods you can employ to grow your money, avert financial problems and build a brighter, more prosperous future. Staying ahead of
April 21, 2020 in Investments -
Emirates airline resumes limited flights from DXB Terminal 3
Emirates is set to resume passenger services from Dubai International Airport’s Terminal 3 from Sunday night (April 12) to select destinations. It had previously been announced that a limited number of repatriation flights operated by the Dubai-based carrier would be undertaken from the airport’s Terminal 2. Destinations include London Heathrow, Frankfurt, Paris, Brussels, and Zurich, with
April 20, 2020 in Business News -
Mauritius heads into coronavirus storm with strong social welfare buffers
Mauritius’ social welfare system is relatively stronger than most nations’ Getty Images The World Bank estimates that the continent’s pace of economic growth may drop from 2.4% in 2019 to -2.1% to -5.1% in 2020, the first recession in 25 years. The continent could face a balance of payments shortfall in excess of $100bn in
April 20, 2020 in Investments -
Coronavirus: Oman confirms 53 new cases, taking total to 599
Oman has confirmed a further 53 new cases of coronavirus, bringing the total number of infections in the sultanate to 599. The Ministry of Health revealed the death toll remains at three, while the total recoveries in the country stands at 109. Meanwhile, the Ministry of Commerce and Industry has stressed that entry to shopping
April 20, 2020 in Business News -
Coronavirus: UAE announces online wedding services
Ceremonies will be conducted via video link following approval of necessary paperwork The United Arab Emirates has launched an online marriage service that allows couples to wed amid restrictions on movement and interaction imposed to counter the deadly coronavirus. The UAE has taken strict measures to combat the spread of the Covid-19 respiratory disease, which
April 19, 2020 in Business News -
Dubai Police install sterilisation gate in Naif area
District is currently subject to two-week complete lockdown as part of Covid-19 restrictions A sterilisation gate has been installed to safeguard residents entering and leaving the Naif area of Dubai. The gate has been launched by Dubai Police as part of increased efforts to combat the spread of coronavirus in the heavily built up district
April 19, 2020 in Business News -
The world has shifted, the future has already begun, and it’s online, says HyperPay CEO Muhannad Ebwini
With Covid-19 causing more businesses to close their doors or drastically reduce their operations, the ones who were fast enough to migrate online in time are the ones who will most likely make it with the least negative impacts on their business. HyperPay’s CEO Muhannad Ebwini said HyperPay has seen a phenomenal 150% increase in
April 18, 2020 in Business News -
CK Architecture Interiors: Designing a greener future
Cem Kapancioglu, CEO of CK Architecture Interiors, discusses how architects and designers can contribute to building a more sustainable environment, in greener ways Sustainability is a big issue in architecture – how does CK embrace this important philosophy? We use materials that are native to their environment – build for purpose – and essentially ‘speak
April 17, 2020 in Business News -
11-point plan to rebuild economy, property sector post Covid-19
The recent announcement of the Moody’s downgrade comes at a time when the economy is already under extreme pressure due to the Covid-19 lockdown. Many key industries have been ground to a halt with devastating consequences for mostly poor, marginalised communities and informal traders. Many emerging landlords, small business owners, contractors and commission-based earners who
April 17, 2020 in Property & Real Estate -
Your retirement savings and Covid-19
People are worried about how the uncertainty of Covid-19 is impacting on the markets where a big portion of their retirement savings is invested. The next time members look at their retirement benefit statement, there is a good chance that they’ll be disappointed and concerned by low, or even negative, investment returns and a possible
April 17, 2020 in Investments -
Drop in interest rate welcome relief but more measures are needed
The recent surprise announcement by the governor of the Reserve Bank, Lesetja Kganyago, of a further drop in the repo rate by 100 basis points to 4.25% per annum is welcome news for the property sector, as it takes the prime lending rate down to 7.75%. This 1% drop in the interest rate allows for
April 17, 2020 in Property & Real Estate -
Ras Al Khaimah Academy announces 20% discount on term 3 fees
Ras Al Khaimah Academy (RAKA) is the latest educational establishment to announce a reduction in fees for the third term. The Academy has said that it will be offering a 20 percent discount to parents. Additionally, RAKA revealed it will be refunding all non-academic third-term fees, such as transportation and canteen charges. “We are pleased
April 17, 2020 in Business News -
Philippine Airlines to launch flights to Saudi Arabia in May
Philippine Airlines has revealed plans to resume a selection of international and domestic flights on select routes in May, including Saudi Arabia. However, the Filipino flag carrier has said the scheduling for next month does not include Dubai. Saudi is on a list of destinations for the weekly flights, which includes Japan, the US (including
April 16, 2020 in Business News -
IFWG releases position paper on crypto assets
Regulators across the globe are formulating frameworks for dealing with crypto assets as a deeper collective understanding of this technology unfolds. In South Africa, the Intergovernmental Fintech Working Group (IFWG), a group of financial sector regulators, has drafted a policy position paper on crypto assets. The purpose of the paper is to provide specific recommendations
April 16, 2020 in Investments -
The case for IMF funding is not clear cut
The announcement by the Minister of Finance Tito Mboweni that the South African government is considering approaching the International Monetary Fund (IMF) for financial assistance amid the Covid19 pandemic has drawn quite a bit of criticism. Historically, aid to developing nations by the IMF has typically been marred by strangling economic policies and structural adjustment
April 16, 2020 in Investments -
Traders hit as crude glut fills Fujairah hub
Port’s 14 million barrels of commercial crude-storage capacity is just a fraction of what Saudi Arabia and Abu Dhabi provide for their state oil companies With the coronavirus choking fuel demand, and the world awash in surplus crude, even the Middle East’s main oil-trading hub has run out of room to store unwanted barrels. Terminal
April 15, 2020 in Business News -
10 ways to stay connected on Biz during lockdown
Self-isolation, lockdowns, working remotely and physical distancing can get you down. Bizcommunity is the daily ‘virtual commute’ that brings you closer to 19 industry communities. The massive interest in Covid-19 related articles has contributed to a 28% increase in our global page impressions. This is just one of the reasons why continuing to publish on
April 15, 2020 in Investments -
UAE mulls curbs on nations refusing evacuation requests
Move comes after a number of nations didn’t respond to requests from their citizens for repatriation The United Arab Emirates is considering imposing restrictions on work quotas of countries that refuse to accept their nationals who wish to leave the Gulf nation amid the coronavirus outbreak. The Ministry of Human Resources & Emiratisation is weighing
April 15, 2020 in Business News -
there’s a strong case that it should change tack
As government, economists, activists, business leaders and the public debate the size and scope of government support to the Covid-19 hit economy, it is worth asking a simple question: what is the impact of government spending? National Treasury and Finance Minister Tito Mboweni support budget cuts, labour market deregulation, and tax cuts. Getty Images This
April 15, 2020 in Investments -
UAE pharma firm Julphar announces capital restructuring
Julphar, one of the largest pharmaceutical manufacturers in the Middle East and Africa, has approved capital restructuring at the company’s annual general assembly (AGM). Under the plan, the Ras Al Khaimah-based company is looking to reduce its share capital by just over AED503m by cancelling shares to extinguish accumulated losses and raising AED500m through new
April 14, 2020 in Business News -
Sarb’s rate cut surprise
In a surprise move, the South African Reserve Bank (Sarb) has cut interest rates by another 100 basis points to help support the country’s economy as it grapples with a rapidly deteriorating situation as result of the extended Covid-19 lock down. Rates are now down 225 bps since the start of the year, and down
April 14, 2020 in Investments -
Defy to begin building ventilators in SA this May
Home appliances manufacturer, Defy, has heeded President Ramaphosa’s call for technical and industrial organisations to focus on the manufacture of non-invasive ventilators to assist those afflicted with Covid-19. The company aims to begin building the ventilators this May to cater to the demand for medical equipment across sub-Saharan Africa. Supplied by Defy National Ventilator Project
April 14, 2020 in Manufacturing -
Flydubai announces repatriation flights to 13 additional destinations
Flydubai has announced a list of repatriation flights for people in the UAE to return to their respective countries. The low-cost carrier operated 23 repatriation flights, carrying 2,800 passengers, from the UAE between March 19 and April 8. The flights, operating from Dubai International Airport’s Terminal 2, departed for Afghanistan, Croatia, Egypt, Iran, Russia, Sudan,
April 14, 2020 in Business News -
Covid-19: Vaccine against the coronavirus could be ready by September
Sarah Gilbert, professor of vaccinology at Oxford University, said she is ‘80% confident’ the vaccine would work A vaccine against the coronavirus could be ready by September, according to a scientist leading one of Britain’s most advanced teams. Sarah Gilbert, professor of vaccinology at Oxford University, told The Times on Saturday that she is “80%
April 13, 2020 in Business News -
UK Prime Minister Boris Johnson leaves hospital
Boris Johnson left hospital on Sunday to convalesce from COVID-19 at Chequers, the country estate of British prime ministers, officials said, a week after he was admitted and then spent three days in intensive care. The 55-year-old leader will not be immediately returning to work, on the advice of his medical staff, a Downing Street
April 12, 2020 in Business News -
UAE doubles stimulus to $70bn to combat coronavirus impact
The central bank has reduced by half to 7.0 percent the reserves banks are required to keep for demand deposits The Central Bank of the United Arab Emirates (CBUAE) has doubled to $70 billion a stimulus package to support the Gulf state’s economy amid the coronavirus pandemic. “The aggregate value of all capital and liquidity
April 12, 2020 in Business News -
Black death makes us think about interest rates
An outbreak in a pre-capitalistic society has no exact parallels with today, though it does highlight some of our current challenges, writes Andy Mukherjee All upheavals leave their marks. Some fade away, some linger. Following the Black Death, the plague that’s believed to have killed 60% of Europe’s population in the second half of the
April 11, 2020 in Business News -
OPEC to try to stem oil price plunge amid coronavirus slowdown
At OPEC’s last meeting in December, the producers agreed to cut production by 500,000 barrels per day, with Saudi Arabia offering a further 400,000 barrels of ‘voluntary’ cuts The OPEC club of oil-producing countries meets Thursday in Vienna as they weigh how to react to a sharp drop in global oil demand due to the
April 10, 2020 in Business News -
Google data shows Covid-19 mobility trends in UAE, Saudi
Google is publishing users’ location data as it aims to help governments around the world tackle the Covid-19 pandemic by proving the effectiveness of measures such as social distancing. The data includes the movement of users from 131 countries including GCC countries UAE and Saudi Arabia, and will be made available on a special website
April 10, 2020 in Business News -
Keep your receipts: Dubai residents must have proof of essential movement
Authorities have introduced stricter measures to combat the coronavirus pandemic, including a 24-hour lockdown Dubai Police have requested residents leaving their homes to shop for groceries or seek medical treatment to keep their receipts as proof to present to authorities if stopped by a patrol car or detected by a radar. The announcement comes as
April 9, 2020 in Business News -
The big asks Africa needs to table with the IMF and World Bank: here’s the list
South African Reserve Bank Governor Lesetja Kganyago chairs the International Monetary Finance Committee. Getty Images These virtual meetings will include the G20 finance ministers and central bank governors and the body that advises IMF Governors about the management of the international financial system – the International Monetary and Finance Committee. The participants in these meetings
April 9, 2020 in Investments -
Covid-19 ripples into container industry
While South Africa is two weeks into a 21-day lockdown, most of the world has been shaken to its core. An estimated 20% of the global population is in some form of a lockdown and those who are not in government-mandated lockdowns are mostly taking extreme measures to self-isolate to contain the rapid outbreak of
April 9, 2020 in Manufacturing -
Kuwait’s stimulus package offers $16.5bn in additional lending, KBA chairman
Adel Al-Majed has said the global crisis posed by coronavirus is worse than the financial meltdown of 2008 The Central Bank of Kuwait (CBK) has made almost $16.5 billion available for additional lending from local banks. Chairman of Kuwait Banking Association (KBA) Adel Al-Majed said the stimulus package includes easing the conditions previously set by
April 8, 2020 in Business News -
Protecting your retirement savings in a pandemic
Many investors from around the world, including South Africans, are becoming increasingly concerned about the impact of Covid-19 on what may be their biggest investment – their retirement savings. Vickie Lange, head: best practice, Alexander Forbes Retirement fund savings have decreased The value of your retirement savings is linked to what happens in the financial
April 8, 2020 in Investments -
Textile industry agrees on temporary relief for employees
Regulations giving effect to the government’s commitment to assist ailing industries and workers through the Unemployment Insurance Fund are being gazetted. The first agreement, gazetted on Tuesday, is between the Minister of Labour and the National Textile Bargaining Council. It states that the regulations apply to all employers in the industry, not just council members,
April 8, 2020 in Manufacturing -
Covid-19: Looking after pets during times of coronavirus
Dr Sara Elliott, founder and director of veterinary services at British Veterinary Hospital, addresses concerns surrounding pets and Covid-19 Following the outbreak of Covid-19 and the following mass of information and misinformation surrounding its origins, there has been an unprecedented amount of uncertainty and doubt regarding pets and whether they can catch the virus or
April 8, 2020 in Business News -
Coronavirus: UAE-based property group calls for rent deferrals
The Representative Committee of the Real Estate Sector Business Group of the Sharjah Chamber of Commerce & Industry said move would ensure business continuity A UAE-based property group has called on property owners to delay rent payments for residential and commercial tenants impacted by the coronavirus outbreak. The Representative Committee of the Real Estate Sector
April 7, 2020 in Business News -
Mining funding in a new economic reality
Both commodity prices and investment in South African mining will no doubt be impacted by measures taken to curb the spread of Covid-19 and the anticipated economic fallout. Local mining operations have been limited to care and maintenance activities only and anticipated mine closures will have an adverse impact on production, which would affect commodity
April 7, 2020 in Investments -
European agri industry gets funding for Covid-19
The European Investment Bank (EIB) announced the launch of a new financing initiative that aims to unlock close to €1.6bn of investment in the agriculture and bioeconomy sector. The initiative targets investments by private cooperatives and companies in the agriculture and bioeconomy sector and aims to support private companies operating throughout the value chains of
April 7, 2020 in Energy -
Dubai lockdown: Everything you need to know
Exempt sectors, public transport and jail time: all the details surrounding the government’s preventative measures against Covid-19 As Dubai extends its lockdown and National Sterilisation Programme over 24 hours for two weeks in a bid to combat the spread of Covid-19, here is everything you need to know: All individuals leaving the house must wear
April 7, 2020 in Business News -
Not taking lockdown lying down
In true South African spirit, even in times of adversity, daily stories of generosity and ingenuity abound. Never have we been more proud of how business communities are using our publishing platforms than since the outbreak of the Covid-19 coronavirus. Recent comments from UK press referring to South Africa’s ‘formidable leadership’ in the handling of
April 6, 2020 in Property & Real Estate -
You’re not alone: UAE offers mental health support amid Covid-19 impact
A series of programmes have been launched to help residents overcome mental challenges UAE residents who feel psychologically overwhelmed by the impact of the global Covid-19 pandemic can now seek help through an online initiative by the National Programme for Happiness and Wellbeing (NPHW). Over 50 psychology experts will help residents overcome their psychological challenges
April 6, 2020 in Business News -
Business un-usual at BMi Research
BMi Research continues to operate and is doing everything in its power to ensure that clients continue to receive reports and insights during the enforced 21-day lockdown period. As a proudly South African business we fully support the government’s initiatives to flatten the curve of the rate of transmission of the coronavirus and impose a
April 6, 2020 in Manufacturing -
How Covid-19 will affect the industrial property market
The Covid-19 hurricane has engulfed the world and all businesses are entwined in a whirlwind of uncertainty. In South Africa, with the lockdown of shopping malls, a lot of discussions have revolved around the major retailers and the listed property funds. But, there has been minimal commentary on how the lockdown is affecting industrial-based businesses
April 6, 2020 in Manufacturing -
Enter the world of Audi
Despite the coronavirus pandemic and halted production, customers and fans can explore the high-tech production of Audi with the online AudiStream tour experience. The plant in Ingolstadt, Germany is open to visitors in virtual form. Anyone interested can book an interactive tour online and experience Audi at from the comfort of your home. There are
April 6, 2020 in Manufacturing -
Coronavirus: Dubai Economy issues 14 fines for price fixing
Fourteen businesses in Dubai have been fined for inflating the price of hygiene essentials. Dubai Economy has revealed that nine pharmacies in Nad Al Hamar, Al Mizhar, Nad Hessa, Sheikh Zayed Road, Hor Al Anz, A Twar, Al Qusais, Umm Suqaim and Al Warqa were punished for pushing up the price of face masks. Two
April 5, 2020 in Business News -
Kuwait coronavirus cases jump to 56 as Iran link grows
Health Ministry confirms 10 new cases in last 24 hours, saying all patients have visited Iran Ten coronavirus (COVID-19) cases have been registered in Kuwait in the last 24 hours, taking the total number to 56, it was announced on Monday. Dr Buthaina Al-Mudhaf, the Health Ministry’s Assistant Undersecretary, told a daily briefing that the
April 5, 2020 in Business News -
Dubai Taxis’ booking service Hala to match tips given to drivers
Covid-19 has seen a sharp decline in demand for taxis, with restrictions on movement in place The booking service for Dubai Taxis, Hala, has said it will match any tips given to its drivers in an effort to supplement their income, starting from Sunday. A joint venture between Dubai’s Roads and Transport Authority (RTA) and
April 4, 2020 in Business News -
Lulu Exchange app sees surge in downloads
LuLu Money has over 350,000 downloads to date, 15,000 of which were in the last 10 days LuLu International Exchange has seen a surge in downloads of its app LuLu Money, as Coivd-19 restrictions see more people turn to digital solutions to remit money. With over 150 branches in the Gulf region (and 75 in
April 3, 2020 in Business News -
Uncertainty is the enemy – SA downgraded to junk status
A lot has been said in the media over the last few weeks regarding the possibility of whether South Africa would be downgraded to junk status by Moody’s and thereby be forced to exit the FTSE World Government Bond Index (WGBI). Emphasis was placed on the implications for our stumbling economy, the government, corporates, consumers
April 3, 2020 in Investments -
Dubai’s Limitless to hire advisers as third restructuring looms
Company is unable to pay accrued profit at the end of the month, according to reports Limitless World LLC is close to hiring financial and legal advisers for the Dubai-based developer’s third restructuring as the emirate’s ongoing property slump is set to worsen. The company told creditors that it’s in the “final stages” of engaging
April 3, 2020 in Business News -
South African couple run ‘balcony marathon’ in Dubai
A South African couple who ran a marathon on the balcony of their Dubai apartment, streaming it online, plan to take the project global to help people shake off the coronavirus blues. Collin Allin, 41, and wife Hilda covered the 42.2-kilometre (26-mile) distance by running more than 2,100 laps of their 20-metre (yard) long balcony
April 2, 2020 in Business News -
Pfizer, BioNTech scientists helping develop coronavirus vaccine
Scientists are helping develop a potential vaccine aimed at preventing the coronavirus infection. Pfizer Inc and BioNTech have signed a deal to work together on the mRNA-based vaccine programme, BNT162, which is expected to enter clinical testing by the end of April. Sinan Atlig, regional president for Pfizer Biopharma in Africa and the Middle East,
April 2, 2020 in Business News -
Solutions for landlords and tenants impacted by lockdown
If you are in the situation where your income is threatening your ability to pay rent, you must take action now, rather than later. Many renters are going to feel trapped, and possibly even terrified, by the sequence of cause and effect events of the coronavirus, particularly if the forced lockdown is going to impact on their
April 1, 2020 in Property & Real Estate -
Polo manufactures 250,000 ‘commuter face masks’ at Atlantis factory
Polo South Africa has pledged 250,000 cotton fabric masks for the City of Cape Town to distribute to commuters and essential service workers across the country during the Covid-19 pandemic. While many South Africans are working from home, some are still dependent on public transport. Commuters who are part of essential services as well as
April 1, 2020 in Manufacturing -
Coronavirus: Oman’s biggest oil and gas producer PDO to cut staff
Petroleum Development Oman, the Gulf Arab country’s biggest producer, plans to reduce the number of staff working on its oil and gas projects in response to the spread of the coronavirus. PDO has started discussions about the cuts with contractors, it said in an emailed statement. The company will review its projects and expects equipment
April 1, 2020 in Business News -
time to add size, scale and speed
It’s time the EU turned its rhetoric about Africa into more tangible action. epa In 2007, they reiterated their ambition to come together in awareness of the lessons and experiences of the past, but also in the certainty that our common future requires an audacious approach Why then, despite such good intentions, have they fallen
April 1, 2020 in Investments -
time to add size, scale and speed
It’s time the EU turned its rhetoric about Africa into more tangible action. epa In 2007, they reiterated their ambition to come together in awareness of the lessons and experiences of the past, but also in the certainty that our common future requires an audacious approach Why then, despite such good intentions, have they fallen
April 1, 2020 in Investments -
What measures can leaders take?
With the novel coronavirus Covid-19 having reached the African continent, countries are getting ready to manage the spread of the virus and ensure that their fragile health systems can cope. Images from China and Europe give many reasons for concern. Image source: UNMEER, CC BY-ND 2.0, Flickr In addition to the health challenges posed by
April 1, 2020 in Investments -
Lulu restricts shopping hours during UAE sterilisation
Lulu Supermarkets has revised its opening hours amid the ongoing sterilisation programme in the UAE. Officials in the country have announced an extension of the disinfection programme until Sunday April 5, during which time people must stay at home from 8pm to 6am each day. In line with that, Lulu has revised its opening hours,
March 31, 2020 in Business News -
6 steps to sustainably flatten the coronavirus curve
We are in the midst of an unprecedented crisis. It started as a health crisis, within days became a real economic crisis, and is now on a swift path to becoming a massive fiscal challenge as well. While reserve banks and governments are reacting swiftly to try to stabilise the economy and financial markets, many
March 31, 2020 in Investments -
Room for further interest rate cuts
Notwithstanding the need for the country to be united in its response to the coronavirus threat and the need to remain steadfast and positive in the belief that we will get through this immense challenge we are facing at a humanitarian level, there’s no doubt that while anticipated, South Africa’s downgrade to junk status by
March 31, 2020 in Property & Real Estate -
Coronavirus: Carluccio’s no plans to shut Middle East restaurants, despite UK money troubles
Carluccio’s, the Italian restaurant chain bought by Dubai’s Landmark Group in 2010, is set to go into the administration in the United Kingdom, due to the impact of the Covid-19 coronavirus outbreak, but none of its Middle Eastern operations will be affected. It was confirmed last week that FRP Advisory, the UK-based restructuring specialists, had
March 31, 2020 in Business News -
Coronavirus: Abu Dhabi to suspend parking charges for 3 weeks
Abu Dhabi decision comes into effect from tomorrow (Monday) and is subject to “revision and extension” Abu Dhabi’s Department of Municipalities and Transport has announced a three-week suspension of Mawaqif parking charges in the emirate. The decision comes into effect from tomorrow (Monday) and is subject to “revision and extension” the authority said in a
March 30, 2020 in Business News -
What to expect from property in a Covid-19 world
As we all band together against the Covid-19 virus and the inevitable economic chaos that will be left in its wake, information sharing has never been more important. Having several countries ahead of our own curve in dealing with the virus has provided invaluable perspective on the safest routes forward as a nation. It has
March 30, 2020 in Property & Real Estate -
Could the IMF steady South Africa’s trembling boots?
These are strange and unpredictable times. For the first time ever and as a result of the economic stranglehold that the novel coronavirus (Covid-19) pandemic has on markets, the United States has been downgraded by credit ratings agency Standard and Poor’s, from its top-notch AAA rating to AA+ with a negative outlook. Ian Matthews, head:
March 30, 2020 in Investments -
There’s no shortage of toilet paper in SA
The Paper Manufacturers Association of South Africa (Pamsa) has confirmed that the pulp, paper, packaging, recycling and tissue value chains will continue to operate as a “critical business continuity service” supporting the manufacturing, processing and distribution of essential goods and services during the lockdown. The sector provides wood and recycled paper fibre for the production
March 30, 2020 in Manufacturing -
AfDB launches $3bn ‘Fight Covid-19’ Social Bond
The African Development Bank’s new $3bn Fight Covid-19 Social Bond is the largest dollar-denominated social bond ever launched in international capital markets to date, and the largest US dollar benchmark ever issued by the bank. With a three-year maturity, it will pay an interest rate of 0.75%. Image source: Julien Harneis, CC BY-SA 2.0, Flickr
March 30, 2020 in Investments -
Moody’s downgrade hits as lockdown begins
Moody’s downgrade of South Africa’s credit rating has been looming for quite a while, but it couldn’t have come at a worse time. The announcement was made at end of the first day of South Africa’s stringent 21-day lockdown period to break the chain of transmission of the Covid-19 virus. The ratings agency has changed
March 30, 2020 in Investments -
Coronavirus: Lulu sourcing 1.6 million face masks daily
Dubai Economy has reassured public about availability of masks, gloves and sanitiser Supermarket chain Lulu is sourcing 1.6 million face masks daily on average for the UAE. Dubai Economy revealed the delivery numbers in a move to reassure residents concerned about the availability of items such as face masks, gloves and hand sanitiser amid the
March 29, 2020 in Business News -
Takeaways for the private equity industry
South Africa started 2020 on the ropes with economists generally expecting the annual GDP growth to be below 1%. This already weak outlook has been exacerbated by the impact of Covid-19 and the consequent curtailment of economic activity. Covid-19 is a game changer, with significant ramifications for every aspect of the global economy and will
March 27, 2020 in Investments -
how Ramaphosa is stacking up
The Covid-19 pandemic is an extreme crisis that puts government under severe pressure. It puts the political judgement of the president or prime minister under the most intense spotlight. Not since the height of the Cold War have the stakes been higher. In happier and less challenging times: world leaders and guests pose for a
March 26, 2020 in Investments -
Increased confidence in property expected as stock markets show extreme volatility
While the recent national lockdown announcement by President Cyril Ramaphosa has dramatically changed the lives and lifestyles of South Africans, time has proven that as a united country, and within our local communities, we have the ability to harness our indomitable spirit and overcome challenges and hardships. From a residential property market perspective, historically, recent
March 25, 2020 in Property & Real Estate -
The economic impacts and prospects of Covid-19
With South Africa headed into a 21-day lockdown this week, combatting the threat of the Covid-19, has been made a key national priority. Never before in our democracy have we seen a national lockdown taking place, but the gravity of the current situation absolutely demands it. Futurist, Marius Oosthuizen “To put things into perspective, if
March 25, 2020 in Investments -
a fresh lens offers more balanced insights
Coverage of Chinese presence in Africa has been somewhat misleading. Shutterstock The most recent contribution to these debates is a book by a professor of sociology at the University of California, Los Angeles, Ching Kwan Lee. The book is based on Lee’s ethnographic study in the copper and construction industries in Zambia. It interrogates Chinese
March 25, 2020 in Investments -
Long-term gains exceed short-term shocks
If time flies when you’re having fun, then the opposite must be true when times are tough. The past few weeks have certainly been gruelling, and the first quarter of 2020 will undoubtedly go down in the history books. Andrew Dittberner is the chief investment officer at Old Mutual Wealth Private Client Securities. We are
March 24, 2020 in Investments -
Economic impact of the Covid-19
The past week has seen both local and global markets in turmoil. Amidst this recent market crash, investors are understandably jittery given the recent market crashes and the fact that the economic impact of the Covid-19 pandemic is not yet fully understood. Andrew Duvenage, MD, NFB Wealth Management However, while the recent market price action
March 24, 2020 in Investments -
How the lockdown will affect SA real estate, economy
Welcoming President Cyril Ramaphosa’s decision to place South Africa in full lockdown in order to contain the spread of Covid-19, Adrian Goslett, regional director and CEO of RE/MAX of Southern Africa, has also recognised the strain this lockdown will put on businesses and the greater economy. “I commend the president for taking such a proactive
March 24, 2020 in Property & Real Estate -
SA footwear brand Olympic International to manufacture Vibram soles
South African footwear brand Olympic International will this year become the first local manufacturer of Vibram outsoles, which are known for their excellent traction. Olympic International falls under the Bolton Footwear umbrella, and was originally inspired by South Africa’s two biggest sports, football and rugby. The brand has since expanded into various other sporting disciplines.
March 24, 2020 in Manufacturing -
Protecting yourself against a loss of future income in a recession
With low GDP growth, credit ratings downgrades and the Covid-19 pandemic, our economy has taken a knock, leaving many investors’ reluctant to save and invest. Gerhard Visser, Alexander Forbes Financial Planning Consultants This hesitance is understandable, especially when one sees the daily drop in your actual investment values, and many investors might be looking at
March 23, 2020 in Investments -
Covid-19 unlikely to derail residential property market in long term
The question around the Covid-19 pandemic’s impact on the property market is an important one, as the real estate market is keenly affected by the overall health of the economy, consumer confidence, and levels of employment in particular, which means that major disruptions in other sectors will have at least some impact on the property
March 23, 2020 in Property & Real Estate -
Should lenders take the knock during Covid-19?
Mass hysteria has set in and it will have a profound effect on the economy in the second and third quarter of this year. John Jack, CEO of Galetti Corporate Real Estate As consumers flock to the shops and prepare for the worst, John Jack, CEO of Galetti Corporate Real Estate says that financial relief
March 23, 2020 in Property & Real Estate -
The global cognitive distortion of panic and #Covid-19
Where did all the toilet paper go? Snapshots of empty store shelves, low levels of storable staples like rice and noodles and city-states raising emergency levels has served to escalate panic-buying and even shop-raiding in some parts of the world. In places like Hong Kong, goods like toilet paper have become scarce enough (valuable enough)
March 18, 2020 in Investments -
Society’s most vulnerable will be hit as Covid-19 cases rise in poorer economies
A vendor distributes newspapers wearing a face mask as a preventive measure against the spread of the Covid-19 coronavirus in Nairobi, Kenya. Simon Maina/AFP via Getty Images The economic impacts have dramatic effects on the well-being of families and communities. For vulnerable families, lost income due to an outbreak can translate to spikes in poverty,
March 17, 2020 in Investments -
6 tips to go from renting to buying
While many still opt for renting, it is a buyers’ market and our current economic climate certainly lends itself to investors – particularly first-time investors. “Picking up property in prime areas at reduced rates has never been more attainable. When factoring in the savings associated with transfer duties, relief in terms of personal income and
March 17, 2020 in Property & Real Estate -
Bahrain’s Gulf Air to reduce flights after first virus death
Only flights to Abu Dhabi, Dubai, Muscat, London, Paris, Frankfurt, Istanbul, Cairo, Mumbai, Delhi, Cochin, Karachi and Manila will operate from Wednesday Gulf Air, the national carrier of Bahrain, on Monday announced plans to temporarily suspend flights to and from several destinations across its network effective from early Wednesday until the end of the month.
March 16, 2020 in Business News -
Want a tax break? Invest in property
As we enter the new financial year, it’s time to start thinking about tax savings – or strictly speaking, what deductions one can legitimately claim. Gerhard Kotzé, MD of the RealNet And in that regard, one of the best investments to have is a rental property, says Gerhard Kotzé, MD of the RealNet estate agency
March 16, 2020 in Property & Real Estate -
Why you should consider an investment property in Scotland
Lisa Bathurst, independent property expert and founder of Hurst & Wills, reveals why Scotland is one of the best countries to purchase an investment property. Image supplied With house prices on the rise, a thriving economy, good infrastructure and a housing shortage, Scotland is a great place to consider buying an investment property. “Scotland currently
March 16, 2020 in Property & Real Estate -
For property investors it remains a buyers’ market
Lightstone Property recently released their Residential Property Indices for March 2020. This is based on analysis of data from official sources such as the Deeds Office registry and Surveyor General regarding residential property transfers to mine data pertaining to properties that have “repeatedly transacted in a certain time period and are less influenced by the
March 13, 2020 in Property & Real Estate -
Governments should always assess the impact of economic reforms on citizens
Eskom and other state owned companies have become a huge burden on the government purse. Shutterstock South Africa desperately needs to reform its economy. Its capacity to deal with its tragic problems of unemployment, poverty and inequality is diminishing. State owned enterprises like the power utility Eskom, public transport group Prasa and South Africa Airways,
March 12, 2020 in Investments -
Alpla to consolidate manufacturing in Gauteng with new plant
Austrian packaging manufacturer Alpla Group is building a new factory in Lanseria near Johannesburg, which will bundles activities from five existing plants. Lanseria production plant rendering Construction on the new plant in Lanseria started in February 2020, with completion of the building scheduled for 2021. As part of a consolidation, the production of five existing
March 11, 2020 in Manufacturing -
How will growth play out in a #Covid-19 & load shedding world?
The year has barely commenced and GDP growth forecasts are being revised lower. Why is growth weakening? Arthur Kamp, chief economist, Sanlam Investments Load shedding dims SA growth Electricity load shedding, which hit SA GDP in the last quarter of 2019, triggering a recession, is usually one of the first culprits identified, although the modest
March 11, 2020 in Investments -
If at first you don’t succeed…
Virgin founder and ground-breaking entrepreneur, Richard Branson, didn’t finish high school. Bill Gates dropped out of university to found Microsoft. JK Rowling was living on government benefits when she wrote her first Harry Potter novel. She also had 12 rejections from publishers before her first book was published. Daniel Kibel In most cases, the world’s
March 9, 2020 in Investments -
Coronavirus affects 2020 investment outlook
Besides the obvious impact on world health, the coronavirus outbreak is also having a notable effect on economic growth, and causing the fireworks in markets. George Herman, director and chief investment officer, Citadel From sitting at record highs, global markets sold off aggressively during the last week of February, with most equity markets dropping around
March 9, 2020 in Investments -
SAIBPP calls for clarity on mandate of new state bank
The South African Institute of Black Property Practitioners (SAIBPP) applauds minister of finance Tito Mboweni and the National Treasury team for delivering a sober budget which acknowledges many of the pressing economic challenges and pressures faced by taxpayers and citizens alike while acknowledging the need for long-term financial planning. Tholo Makhaola, president of the South
March 6, 2020 in Property & Real Estate -
Assistance system for data-based assembly of terminal strips
Assistance system supports assembly technicians as they handle parts and carry out assembly tasks The Mount Assist assistance system from Phoenix Contact’s ClipX product family incorporates pick-by-light technology, which enables technicians to concentrate on added-value activities without imposing restrictions on their work process. In this way, the system supports assembly technicians as they handle parts
March 6, 2020 in Business News -
Mourning period for late Sultan Qaboos comes to an end in Oman
40-day period ordered on January 11 following death of His Majesty Sultan Qaboos bin Said bin Taimour The 40-day period of mourning following the death of His Majesty Sultan Qaboos bin Said bin Taimour will be brought to a conclusion on Wednesday. The Diwan of Royal Court ordered the period of mourning after Sultan Qaboos
March 5, 2020 in Business News -
Knight Frank launches 2020 Wealth Report revealing PIRI 100
Highlights from the index include: Cities dominate the fastest risers in Knight Frank’s PIRI 100, as opposed to second home markets. European and Asian cities dominate the top 10 best performing locations. In Europe, Frankfurt (10.3%), Lisbon (9.6%), Athens (7.0%) and Berlin (6.5%). In Asia, Seoul (8.9%), Taipei (7.6%), Manila (6.5%) and Guangzhou (6.3%). The
March 5, 2020 in Property & Real Estate -
Standard Bank issues green bond via IFC
Standard Bank has issued its first green bond, a 10-year facility with the express purposes of raising capital for use in on-lending by Standard Bank Group’s (SBG) Sustainable Finance Business Unit. Issued via private placement with IFC, a development finance institution focused on the private sector, part of the World Bank Group, the $200m, London
March 5, 2020 in Investments -
DMCC’s first super tall tower set for early 2022 completion
81-storey Uptown Tower will feature 188 hotel rooms, restaurants, health spas, conference facilities, offices and 229 branded residences The first super tall tower in Dubai Multi Commodities Centre (DMCC) is on schedule for completion in early 2022, it has been announced. DMCC, master developer of Jumeirah Lakes Towers (JLT), said that its Uptown Tower project
March 4, 2020 in Business News -
Innovation drives M&A deals in uncertain times
While macroeconomic factors such as continued political turbulence and widespread fiscal uncertainty have undeniably impacted dealmaking across the globe, deal flow has by no means come to a halt. Rather, the challenging commercial environment has served as a catalyst for innovation, resulting in an evolution of dealmaking that requires greater agility and flexibility than ever
March 4, 2020 in Investments -
Looking to buy property? It’s a good time to borrow
South Africa is currently in what is termed a ‘buyers’ market’, with more supply of properties than demand from buyers. In the last five years, properties have often stayed in the market longer than average and asking prices have remained the same or decreased. On the other hand, borrowers are in a strong position, thanks
March 4, 2020 in Property & Real Estate -
To be sold: Amanzingwe Lodge
Amanzingwe: Lodge, restaurant, conference centre, wedding chapels and spa. 49.5 hectares, 48 rooms, two chapels and much more. To be sold by appointed liquidators to the highest suitable bidder as a going concern. Sale will be without encumbrance, except for the transfer of staff. Expression of interest to be e-mailed to az.oc.noixartssenisub@erdna by close of
March 4, 2020 in Property & Real Estate -
Consortium of India’s Enso Group, Russian fund emerges as new suitor for Jet Airways
SBI-led creditors committee to the grounded carrier extends the deadline for bid submission to March 10 to accommodate new bidders A new consortium of Mumbai-based Enso Group and Far East Asia Development Fund (FADF) of Russia is understood to have shown interest in bidding for Jet Airways, leading to grant of yet another extension to
March 4, 2020 in Business News -
ToTok Google Play | ToTok Apple Store | Free Audio Video Calling in Dubai UAE: ToTok disappears again from Google Play and Apple app stores
Popular VoIP app was taken off both platforms in December but reinstated the following month ToTok, the popular VoIP app, has once again been removed from the Google Play and Apple App stores. The app – which allows users to make video and voice calls – was taken down from both portals in December last
March 3, 2020 in Business News -
Dubai Cultiv8 invests in UAE-based legal technology firm
Among Code Engine Software’s products are CasEngine, a bilingual product designed to help law firms and in-house legal teams collaborate efficiently UAE-based LegalTech firm Code Engines Software has attracted investment from Dubai Cultiv8 through its $100m technology fund, it has been announced. The size of the investment was not disclosed. Dedicated to investing in financial
March 3, 2020 in Business News -
Coronavirus factory closures in China may swell demand for SA-made products
Albert Louw, Lasher Tools marketing manager, says that the company has gained new business as a consequence of the outbreak of coronavirus in China and the closure of manufacturing in the country in an attempt to stem the spread of the deadly virus. Albert Louw World’s largest manufacturing economy halted “For the first time, a
March 2, 2020 in Manufacturing -
Trump raises doubts over India trade deal ahead of visit
Trump last year kicked India out of a programme for developing countries that gave some Indian exports tariff-free access to the US market President Donald Trump cast doubts over the likelihood of an anticipated trade deal with India on Tuesday, just days before a scheduled visit to the South Asian power. ”Well, we can have
March 2, 2020 in Business News -
Windhoek-based Caterserve goes off-grid
Namibian food manufacturer Caterserve, which produces over 1,000 bottles of tomato sauce and mayonnaise daily, has installed a 200kW battery-solar off-grid system, allowing the manufacturer to go completely off-grid. Caterserve now runs 100% off solar power 24 hours a day and has been able to increase its production capacity. The installation was completed by SolarSaver,
March 2, 2020 in Manufacturing -
Dubai property continues to offer among best yields in world, says Savills
Dubai’s gross residential yields behind only Los Angeles, Moscow and Cape Town, according to latest Savills report Despite prime residential rents in Dubai falling by five percent last year, the emirate offers up some of the best yields in the world, according to the latest Savills Prime Index” World Cities report. Dubai and Kuala Lumpur
March 1, 2020 in Business News -
Total IT spending in Saudi Arabia forecast to hit $37bn in 2020
International Data Corporation says Saudi IT market is ‘grappling with a wave of new digital transformation realities’ Total spending on information and communication technology (ICT) in Saudi Arabia is set to reach $37 billion this year, up 2.4 percent on 2019. That’s according to the latest forecasts by International Data Corporation (IDC) as it hosted
March 1, 2020 in Business News -
Dubai banking major, Dubizzle aim to simplify used car buying
Emirates NBD has launched Autoswap, a first-of-its-kind auto loan buyout product in partnership with Dubizzle Emirates NBD, Dubai’s biggest bank, has launched Autoswap, a first-of-its-kind auto loan buyout product that provides a hassle-free financing solution for individuals seeking to buy used cars. Launched in partnership with Dubizzle, the classifieds platform in the UAE, the Autoswap
February 29, 2020 in Business News -
French medical giant opens first GCC office in Dubai Science Park
Sebia, the world’s leading provider of advanced medical equipment for in vitro diagnostic testing, has opened office in Dubai as part of global expansion Dubai Science Park (DSP) has welcomed Sebia, the world’s leading provider of advanced medical equipment for in vitro diagnostic testing, to its community. The opening of Sebia’s first office in the
February 28, 2020 in Business News -
Lightstone predicts positive turnaround of house price inflation in Q2 2020
After the economic recession in 2008 house price inflation in the last decade showed lacklustre growth only peaking at 6.35% at the end of 2014. Fast forward to 2019 where house price inflation for the year ended just below 2%, and Lightstone’s low road scenario was forecasted at exactly 2%. According to Paul-Roux de Kock,
February 28, 2020 in Property & Real Estate -
Dubai firm says to recreate top UK school in China
BBD Education will work as an adviser and project manager to set up a version of Scotland-based Gordonstoun in China A Dubai-based education consultancy has been tasked with recreating one of the UK’s most famous schools in China. BBD Education said it will work as an adviser and project manager to set up a version
February 28, 2020 in Business News -
Fuel loading begins at UAE’s first nuclear power plant
Nawah Energy Company begins initial step in the process towards commencing operations of Barakah Unit 1 following receipt of licence Nawah Energy Company (Nawah), the subsidiary of the Emirates Nuclear Energy Corporation (ENEC) responsible for operating and maintaining the Barakah Nuclear Energy Plant, has started loading the first nuclear fuel assemblies. Following the receipt of
February 27, 2020 in Business News -
Adjustment in transfer duty threshold a welcome move
Apart from the tax reprieve announced by finance minister Tito Mboweni in the National Budget, with no major tax increases and even personal income tax relief across the board, good news for the property market is the adjustment of the threshold for transfer duty with zero duty payable on property costing R1m or less. Dr
February 27, 2020 in Property & Real Estate -
Transfer duty, personal tax relief welcome news for property market
The 2020 Budget Speech presented by minister of finance Tito Mboweni is broadly welcomed, in particular, the raising of the transfer duty threshold to R1m combined with the broader personal income tax relief for the property market. Image source: GovernmentZA/Flickr This should boost first-time buyers and the low to mid-market sector to about R1.8m which
February 27, 2020 in Property & Real Estate -
Tilal Al Ghaf townhouses sell out three weeks after Dubai launch
Majid Al Futtaim says it has seen ‘exceptional demand’ for latest release of townhouses in Tilal Al Ghaf project Majid Al Futtaim has announces that its latest release of townhouses has sold out just three weeks after launch following exceptional demand among buyers eager to secure a property within its Tilal Al Ghaf community in
February 27, 2020 in Business News -
Jeddah set to see big retail expansion by 2024 as global brands move in
CBRE report says Jeddah’s retail sector is benefitting from several new projects, adding 40,000 sq m of gross leasable area Jeddah’s retail sector is benefitting from several new projects and developments, adding approximately 40,000 sq m of gross leasable area (GLA) to the market, according to CBRE. CBRE’s H2 2019 Jeddah Market Snapshot said the
February 26, 2020 in Business News -
Dubai luxury supercar maker W Motors seeks funds to go electric
W Motors hired investment bank Guggenheim Partners to help raise as much as $100m to back expansion and its push into electric vehicles The maker of a $3.4 million supercar that can hit speeds of almost 250 miles per hour has sensed the time is right to target a wider audience by going electric. Dubai-based
February 25, 2020 in Business News -
African countries aren’t getting as much as they should from foreign direct investment
Economic growth is driven by a number of factors. These include foreign direct investment, national savings, household spending, fiscal and monetary policies. Since the late 1980s African governments have fully embraced foreign direct investment as a major driver of growth. There has been a slide in the levels of foreign direct investment in Africa. Wikimedia
February 25, 2020 in Investments -
African countries aren’t getting as much as they should from foreign direct investment
Economic growth is driven by a number of factors. These include foreign direct investment, national savings, household spending, fiscal and monetary policies. Since the late 1980s African governments have fully embraced foreign direct investment as a major driver of growth. There has been a slide in the levels of foreign direct investment in Africa. Wikimedia
February 25, 2020 in Investments -
Is tourism the answer to Ethiopia’s job creation goal?
With Ethiopia’s economy growing at a rate of 10.5% and 7.71%, in 2017 and 2018 respectively, it sets the Horn of Africa up for even further growth in the next decade, and government optimistic to create 20 million jobs over this period. In addition to the growing economy, Ethiopia has been leading tourism growth rates
February 25, 2020 in Property & Real Estate -
Is tourism the answer to Ethiopia’s job creation goal?
With Ethiopia’s economy growing at a rate of 10.5% and 7.71%, in 2017 and 2018 respectively, it sets the Horn of Africa up for even further growth in the next decade, and government optimistic to create 20 million jobs over this period. In addition to the growing economy, Ethiopia has been leading tourism growth rates
February 25, 2020 in Property & Real Estate -
On its 100th birthday, Jungle Oats opens R208m mill in Cape Town
Iconic South African brand Jungle Oats celebrates its 100th birthday this year. Remaining a firm fixture on the household breakfast rotation, the brand has just revealed a new mill in Cape Town and a refreshed communication strategy and packaging design. Jungle Oats is Tiger Brands’ first and oldest product. Its history dates back to 1920
February 25, 2020 in Manufacturing -
South African permission for ACWA Power plant expires, lawyers say
Authorisation for the Khanyisa coal-fired plant lapsed on October 31 2018, which ACWA Power opposed in South Africa’s High Court ACWA Power has been informed by the South African government that its environmental authorisation to build a 306 megawatt coal-fired power plant in the country has expired, according to lawyers opposing the project. The authorisation
February 25, 2020 in Business News -
Abu Dhabi to issue $2.7bn tenders for infrastructure projects in PPP push
Abu Dhabi Government announces intention to procure infrastructure projects this year under its public-private partnership model The Abu Dhabi Government announced on Wednesday its intention to procure approximately AED10 billion ($2.7 billion) of infrastructure projects this year under its public-private partnership (PPP) model in a range of sectors. The tenders are part of a initiative
February 24, 2020 in Business News -
Stalling property market needs economic relief
The stalling property market is in dire need of economic relief. The 2016-2018 transfer duty and capital gains tax (CGT) hikes were never going to result in higher government revenue, quite the opposite as is now evident from the sales data. Samuel Seeff, chairman of the Seeff Property Group The hikes started in 2015 when
February 24, 2020 in Property & Real Estate -
City of Cape Town reiterates support for local clothing and textile sector
The City of Cape Town says it is committed to supporting the local clothing and textile sector by providing grant funding to strategic business partners dedicated to the growth of the industry. Cape Town’s clothing and textile industry is the second largest employer within the local manufacturing sector, employing 24,330 individuals. It contributed R4,4 billion
February 24, 2020 in Manufacturing -
Of Divas and visas with Ravi Naidoo
In fervent anticipation of Design Indaba 25 taking place this week from 26 to 28 February 2020, Biztakeouts found a window in the diary of CEO and founder Ravi Naidoo to discuss visas and venture capital, policy, projects and lessons learned on Design Indaba’s 25-year journey so far. While our region may not currently always
February 24, 2020 in Venture Capital -
Gold Prices/Rates in Dubai UAE and Around the Middle East: Price hike in gold to hit Middle East consumers
Gold traded near the highest level since 2013 on concerns over the spread of the new coronavirus Customers looking to buy gold can expect to pay a higher premium, as a result of the continuing deadly coronavirus crisis. Gold traded near the highest level since 2013 on concerns over the spread of the new coronavirus
February 23, 2020 in Business News -
Not a coffee drinker? Here’s how to get your morning boost
The world is divided on whether coffee is good for you, but more people are switching their espressos for alternatives The world is divided on whether coffee is good for you or not, but more people are switching their espressos for alternatives that will provide the energy boost without the jitters. Even if you’re a
February 23, 2020 in Business News -
UAE Central Bank cracks down on misuse of home loans
CBUAE issues notice to lenders ‘to stop certain unacceptable practices’ involving mortgages The United Arab Emirates is cracking down on the misuse of home loans to prevent risky borrowing as an ongoing property slump weighs on banks. The central bank issued a notice to lenders “to stop certain unacceptable practices” involving mortgages, which enabled some
February 22, 2020 in Business News -
How Carson Block turned BR Shetty’s business world upside down
Law firm Herbert Smith Freehills has launched a review of Shetty’s holdings at his request following a report by Block’s investment firm Muddy Waters Bavaguthu Raghuram Shetty was once a typical billionaire with a taste for the high-life. He splurged on a private jet, vintage cars and two entire floors of the Burj Khalifa, the
February 21, 2020 in Business News -
Dubai Police nabs gang after $5.5m jewellery robbery
Police chief urges Dubai residents to upgrade security after saying victim did not secure his residence against thefts Dubai Police has apprehended a gang less than 48 hours after the robbery of AED20 million ($5.5 million) worth of jewellery from a European expat’s residence in the emirate. Major General Khalil Ibrahim Al Mansoori, Assistant Commander-in-Chief
February 21, 2020 in Business News -
Will load shedding reignite an asset exodus for South Africa?
The twin threats of asset drain and of declining foreign direct investment (FDI) are increasing with the return of load shedding and ongoing governance issues at several of South Africa’s largest state-owned enterprises (SOEs), Both are potentially devastating to the local economy, especially if President Cyril Ramaphosa fails to implement much-needed reforms. Image source: Getty/Gallo
February 21, 2020 in Investments -
UEFA charges against Abu Dhabi’s Man City ‘simply not true’
City Football Group CEO Ferran Soriano hopes appeal against European ban will be heard before start of next season’s Champions League Manchester City hope to have their appeal against a two-year ban from European football by UEFA heard by the Court of Arbitration before the start of next season’s Champions League, according to City Football
February 20, 2020 in Business News -
they’re paying too much for debt
Ethiopia’s economic growth hovered between 8%-11% for over 10 years but its sovereign credit rating has not been upgraded Shutterstock African governments are issuing and listing their Eurobonds on established international debt markets – usually London and Irish Stock Exchanges. African governments would venture offshore a lot less if domestic bond markets were active and
February 20, 2020 in Investments -
Kuwait MPs launch probe into Airbus deal bribery claims
Parliament’s decision came after a special debate on allegations that Airbus paid kickbacks to secure a 25-aircraft deal six years ago Kuwait’s parliament on Wednesday formed a fact-finding panel to probe alleged kickbacks in a deal between the national carrier and Airbus, which last month paid massive fines to settle bribery scandals. The parliament’s decision
February 20, 2020 in Business News -
6 property development trends forecast for 2020
2020 brings a fresh wave of design concepts and investor trends to the development industry. Creating concrete jungles that feature greenery, raw design trends and the rise of short-stay tenants in sought-after suburbs are some of the elements we will see in 2020. Jacques van Embden, MD, Blok We believe that what people are really
February 18, 2020 in Property & Real Estate -
Dubai’s Drake & Scull hits back at former CEO’s claims
Contracting major says statement issued by Khaldoun Tabari ‘lacks credibility and is not supported by evidence’ Dubai-based Drake and Scull International on Monday hit back at claims from its former CEO Khaldoun Tabari that allegations of embezzlement and fraud were “unwarranted commercial claims and not criminal complaints”. The contracting major said his press statement published
February 18, 2020 in Business News -
Buyers, tenants maintain upper hand in Kenyan property market
Image source: Gallo/Getty Prime retail rents – charged for line shops in the malls – had hitherto stagnated at $5.1/sq.ft./m. Tenants had the advantage in retail leasing owing to the continued oversupply of shopping mall spaces. In the commercial office market, grade A office rents remained unchanged at an average of $1.3/sq.ft./m in the second
February 18, 2020 in Property & Real Estate -
Ivanka Trump praises women-friendly reforms in Saudi Arabia, Bahrain
Ivanka Trump warned against growing ‘complacent’ and said much work remains to be done in the MENA region and the wider world Saudi Arabia and Bahrain were among the countries singled out for praise by Ivanka Trump for their “significant reforms” that have helped women, although she said there is “much more work to be
February 17, 2020 in Business News -
4 important steps for delivering an Industry 4.0 factory and supply chain
Also referred to as the next industrial revolution, Industry 4.0 is synonymous with smart technologies such as artificial intelligence (AI), cloud computing, blockchain, the Internet of Things (IoT), and more. It is expected to drive efficiencies and increase competitiveness in the manufacturing industry via faster, more agile internal processes and supply chains. In Africa, several
February 17, 2020 in Manufacturing -
Nigeria’s growing appeal as a real estate investment destination
As South Africa’s medium-term economic growth prospects become increasingly uncertain, many local and international property investors are finding it necessary to shift their focus elsewhere while they wait for stability and a clear growth path to be restored for the country. Image source: Gallo/Getty Possibly as a consequence of many investors still tarring all African
February 17, 2020 in Property & Real Estate -
Niche farming could pave the way for agricultural growth in SA
In light of the critical role that agriculture plays in job creation and food security, targeted investment opportunities in the sector is crucial to ensuring increasing sustainability and productivity in the sector. Experts are of the opinion that South Africa has a chance to gain enormous advantages, especially if farmers were to focus on smaller
February 17, 2020 in Manufacturing -
#Sona20: 5 positives for property
In the lead-up to Sona 2020, property experts were united in their hopes for the president’s address: clear leadership, a pragmatic outlook, and actionable plans to boost investor confidence. The speech held at least five positive elements for the property market. 1. Education and training The emphasis placed on young people, education and training was
February 17, 2020 in Property & Real Estate -
Oman sees prospects of talks between Iran and US
‘We are in touch with the US and Iran,’ said Yousef Bin Alawi, Oman’s foreign minister Oman is working to reduce tensions in the Gulf and sees prospects of talks between arch-rivals Iran and the US, its foreign minister said. “We are in touch with the US and Iran,” Yousef Bin Alawi, Oman’s foreign minister,
February 16, 2020 in Business News -
How the UAE plans to give more protection to bank customers
Consultations start on plans to establish new financial consumer protection regulatory framework in the UAE The Central Bank of the UAE has launched a consultation process with key stakeholders, aimed at developing a new financial consumer protection regulatory framework. Officials said the framework will strengthen the protection of consumers in the UAE through more comprehensive
February 16, 2020 in Business News -
Investigation reveals cause of 2016 Emirates plane crash in Dubai
General Civil Aviation Authority’s final report recommends enhanced training for pilots and air traffic controllers Emirates has been urged to enhance pilot training following an investigation into Flight EK521 which crashed at Dubai International Airport and caught fire in 2016. A final report by the General Civil Aviation Authority (GCAA) said the pilots failed to
February 15, 2020 in Business News -
Aster DM Healthcare granted approval for 100% ownership of its Dubai-based subsidiaries
The stake holding of the India-listed Aster group in its UAE-subsidiaries was so far capped at 49 percent as per the local ownership rules Aster DM Healthcare has been granted approval by UAE government to hold 100 percent equity stake in its Dubai-based subsidiaries, the company has announced. The stake holding of the India-listed Aster
February 15, 2020 in Business News -
Saudi Arabia, Kuwait agree restart of shared oil field from Sunday
Wafra has been shut since May 2015, due to a dispute over Saudi Arabia’s renewal of Chevron Corp’s concession there Saudi Arabia and Kuwait have authorised the restart of oil production at the Wafra field from Sunday, more than four years after they halted output at the shared deposit. The decision was announced in an
February 14, 2020 in Business News -
We’re talking in the right direction, but actions speak louder than words
While it is hardly news that what is desperately needed in South Africa is economic growth and a dramatic increase in the employment rate, it was nevertheless reassuring to have President Cyril Rhamaphosa address these issues and flag them as a key priority in his State of the Nation address last night. Image source: GovernmentZA/Flickr
February 14, 2020 in Property & Real Estate -
Uniting the finance and business community to achieve the UN’s Sustainable Development Goals by 2030
SAICA, in collaboration with One Young World (OYW) and Chartered Accountants Worldwide (CAW), launched Finance and Business (FinBiz) 2030 in Johannesburg, South Africa on 6 February 2020 at Investec. FinBiz2030 is an initiative to unite and mobilise the finance and business community to achieve the United Nations’ Sustainable Development Goals (SDGs) by 2030. Finance professionals
February 14, 2020 in Investments -
#Sona20 hits the pain points, but follow-through is vital
Pieter Bensch, executive vice president, Africa & Middle East: Sage</span>President Cyril Ramaphosa delivered a sober assessment of the challenges the nation faces along with realistic proposals about how these problems may be addressed. Read more… | Send to a friend Source link
February 14, 2020 in Investments -
Landmark investment secured for 60MW Djibouti Wind Farm Project
Supporting Djibouti’s target of transitioning to 100% renewable energy-based electricity production by 2030, Africa Finance Corporation (AFC), Climate Fund Managers (CFM), FMO – the Dutch entrepreneurial development bank, and Great Horn Investment Holdings (GHIH) recently announced a landmark investment for the construction and operation of a 60MW wind farm in the Ghoubet area, near Lake
February 14, 2020 in Energy -
DP World agrees deal to buy stake in Ukrainian port terminal
DP World has agreed to acquire a majority 51% stake in TIS Container Terminal in the Port of Yuzhny Dubai-based DP World has agreed to acquire a majority 51 percent stake in TIS Container Terminal in the Port of Yuzhny, Ukraine, subject to regulatory approval. Bringing the TIS Container Terminal into DP World’s global network
February 13, 2020 in Business News -
Property is still a sound investment in SA, provided you take the right approach
Image source: Gallo/Getty Many investors may feel they’re better off putting their money elsewhere, whether that’s equities, index funds, bonds, or any other vehicles. Provided they invest in the right property vehicles in the right areas, however, there are still real opportunities in the South African property space. Bucking the trend While residential prices may
February 13, 2020 in Property & Real Estate -
Are you ready to invest in offshore property?
Here is a five-step checklist to get you started in investing in offshore property and some pitfalls to watch out for. Image source: Gallo/Getty 1. Strategy Determine your objectives and the best strategy to meet them. Are you looking for a property you’d eventually like to retire to, a property you’d like to visit regularly,
February 13, 2020 in Property & Real Estate -
South Africa in for another up-and-down year
It’s fair to say this year got off to an eventful start, with the South African Reserve Bank (Sarb) unexpectedly cutting the repo rate by 25 basis points to 6.25%, while lowering 2020 economic growth projections down from 1.4% to 1.2%. Image source: Getty/Gallo Of the opinion that this revised growth estimate may still be
February 13, 2020 in Investments -
Dubai telecoms giant posts 9% rise in 2019 profit to $470m
Emirates Integrated Telecommunications Company chairman hails ‘strong results’ in ‘challenging environment’ Emirates Integrated Telecommunications Company, parent of telco Du, on Tuesday reported a 9.3 percent in its annual net profit for 2019 to AED1.73 billion ($470 million). The telecoms operator also announced an acceleration in the deployment of its investment plan, particularly in connection with
February 12, 2020 in Business News -
AfDB provides multi-million-dollar grant to boost renewable energy access in Liberia
The African Development Fund (AfDB) has approved a $34.74m grant and loan to boost renewable energy access and promote an attractive investment climate in Liberia. At a signing ceremony in Monrovia earlier this year, AfDB Liberia country manager Dr Orison Amu, and Liberia minister of finance and development planning Samuel Tweah Jr signed financing agreements
February 12, 2020 in Energy -
Kuwait’s Jazeera Airways soars to best-ever annual profit
Airline says net profit jumps by 124% in 2019 on the back of a surge in passenger numbers Kuwait-based Jazeera Airways on Tuesday announced an annual net profit of KD14.9 million ($48.9 million), up 124.1 percent compared to the previous year, supported by a surge in passenger numbers. The airline reported a 20.6 percent increase
February 11, 2020 in Business News -
SA’s Furniture Industry Master Plan roadshow concludes
The South African Furniture Initiative (SAFI) and the Department of Trade and Industry (dti) last week completed their consultative roadshow in Port Elizabeth, after meeting furniture manufacturers across South Africa in preparation for its Furniture Industry Master Plan (FIMP). Getty The roadshow travelled from the Western Cape to Gauteng, Mpumalanga, KwaZulu-Natal and the Eastern Cape
February 11, 2020 in Manufacturing -
Don’t underestimate the value of an experienced financial partner
While the risks are high, Africa currently offers a very compelling mining proposition with a number of excellent prospects in many parts of the continent. These include a very strong growth story in West Africa at the moment, and solid momentum building in the East African corridor, particularly in Kenya, Tanzania, into Ethiopia and even
February 10, 2020 in Investments -
Don’t underestimate the value of an experienced financial partner
While the risks are high, Africa currently offers a very compelling mining proposition with a number of excellent prospects in many parts of the continent. These include a very strong growth story in West Africa at the moment, and solid momentum building in the East African corridor, particularly in Kenya, Tanzania, into Ethiopia and even
February 10, 2020 in Investments -
Franc believes investing is for everyone
If you think that investing is only for the rich, you’re absolutely wrong. Franc was born in 2018 when an engineer, an actuary, an investment guru and a tech whizz shared a common idea of making investing affordable, accessible and social. We chat to Dr Thomas Brennan, CEO and co-founder of Franc, to find out
February 10, 2020 in Investments -
Directors not liable to shareholders for decrease in share value
In a recent hearing before the Gauteng High Court, Hlumisa Investment Holdings RF Ltd v Kirkinis 2019, the minority shareholders of a holding company attempted to use provisions of the Companies Act, No. 71 of 2008 (the Act) to claim damages from the directors of the company for the reduction in value of their shares.
February 10, 2020 in Investments -
Tips for reducing vacancies in your property portfolio
Tough economic times like the downward cycle we are in now calls for a new and fresh approach to ensure you are not sitting with costly vacancies. We are seeing a rise in vacancies linked with a rate correction and a downward push in rentals across our client portfolios. This is now affecting our clients
February 10, 2020 in Property & Real Estate -
Just warming up: Masdar CEO Mohamed Jameel Al Ramahi
Mohamed Jameel Al Ramahi is CEO of Abu Dhabi-based energy giant Masdar, which is leading the way in trying to head off a possible climate change catastrophe, but he tells Arabian Business that he’s just getting started When it comes to saving the planet, Mohamed Jameel Al Ramahi has made it his business to play
February 10, 2020 in Business News -
Many men still consider women too ’emotional’ for board roles, says Sara Al Madani
While Emirati serial entrepreneur Sara Al Madani said that attitudes are changing, finance in particular remains a ‘man’s world’ There is still a shortage of women on the boards of companies, largely as a result of an assumption that they are too “emotional” for the role, particularly in the finance sector, according to Emirati serial
February 9, 2020 in Business News -
New cruise liner jetty to be built at Abu Dhabi’s Sir Bani Yas island
$27m project will allow two vessels to dock at any given time and provide up to 5,000 passengers with direct access to island Abu Dhabi Ports announced on Saturday plans to design and construct a new cruise jetty at Sir Bani Yas Cruise Beach, off the coast of Abu Dhabi. The AED100 million ($27 million)
February 8, 2020 in Business News -
Size of MENA’s PR industry to double to $2bn by 2030, says Sunil John
Founder of Dubai-based ASDA’A BCW says growth will be driven by the expansion of global brands that emerge from region The PR industry in the Middle East and North Africa (MENA) is set to double in value to $2 billion by 2030, according to a leading Dubai-based expert. Speaking at the PRovoke MENA Summit 2020,
February 8, 2020 in Business News -
Uber narrows losses in Q4 as revenue soars by 41%
Uber beat earnings targets consistently last year, with the help of spending discipline Uber shares revved higher Thursday as the global ride-hailing giant’s quarterly update showed it moving on a path to profitability faster than expected. The San Francisco-based company still lost $1.1 billion on revenue that increased 41 percent to $3.7 billion when compared
February 7, 2020 in Business News -
Euphonik shares insights from his property investment journey
Not just a musical maestro, DJ Euphonik aka Themba Mbongeni Nkosi is a savvy property investor with an impressive property portfolio and a passionate advocate for property as an accessible investment with exponential growth potential. Nkosi shared insights and learnings from his own property journey with us. Euphonik aka Themba Mbongeni Nkosi. Image source: Facebook
February 7, 2020 in Property & Real Estate -
Sharing isn’t just caring – it’s also impacting the property market
The sharing economy and its cousin the caring economy already have deep cultural roots across South Africa. The practice of extended families sharing a property and relatives assisting in the purchase of property, while not new, look set to enjoy a resurgence as local market conditions mix with fast-growing global trends. Image source: Gallo/Getty The
February 7, 2020 in Property & Real Estate -
Gold(en) opportunities in West Africa
West Africa still holds a certain lustre among gold miners, although they are cautious about the regulatory and security risks. In a panel discussion at Investing in African Mining Indaba 2020, David Awram (DA) senior executive vice president, Sandstorm Gold, John Welborn (JW), CEO, Resolute Mining, Peter Ruxton (PR), principal, Tembo Capital and Cathleen Cox
February 6, 2020 in Investments -
Gold(en) opportunities in West Africa
West Africa still holds a certain lustre among gold miners, although they are cautious about the regulatory and security risks. In a panel discussion at Investing in African Mining Indaba 2020, David Awram (DA) senior executive vice president, Sandstorm Gold, John Welborn (JW), CEO, Resolute Mining, Peter Ruxton (PR), principal, Tembo Capital and Cathleen Cox
February 6, 2020 in Investments -
Togo breaks ground on West Africa’s largest solar PV project
Togo broke ground on its 50MW Mohamed Bin Zayed Photovoltaic Solar Power Complex in Blitta this month. The project supports the country’s ambitions to increase its rural electrification rate to 50% by 2022, and 100% by 2030. Image source: AMEA Power It was launched in the presence of the president of Togo Faure E. Gnassingbe
February 6, 2020 in Energy -
Barry Callebaut invests in dairy-free chocolate production
Cocoa processor and chocolate manufacturer Barry Callebaut is investing in dairy-free product development and production facilities to cater to the demand for plant-based products. The company has created a 100% dairy-free chocolate, called M_lk Chocolate, which it says mimics the typical creamy milk chocolate flavour and texture. The innovation is part of its new ‘Plant
February 5, 2020 in Manufacturing -
CT ranks 11th on Savills World Cities Prime Residential Index
Across the 27 cities in the Savills World Cities Prime Residential Index, capital values in 2020 are forecast to grow by 1.8% on average, says Dr Andrew Golding, chief executive of the Pam Golding Property group, which is in association with Savills. Image supplied “This metric is reported in an update to Savills’ Impacts research
February 5, 2020 in Property & Real Estate -
Learn how to invest in early-stage startups
The Western Cape has a vibrant startup environment, but with that comes the risks and rewards of investing in early-stage startups. To encourage more South Africans to consider investing in early-stage startups, the Department of Economic Development and Tourism (DEDAT) has launched an early-stage startup investment online course in February 2020. The DEDAT ‘Introduction to
February 5, 2020 in Investments -
Local property investors urged not to lose hope
The South African economy is performing poorly and has been for some time now, but Adrian Goslett, regional director and CEO of RE/MAX of Southern Africa, is urging South Africans not allow their confidence in the local property market to be shaken by these tough economic times. According to Stats SA, real gross domestic product
February 4, 2020 in Property & Real Estate -
Mattel launches building sets made from bio-based plastic
Toy manufacturer Mattel is launching a series of bio-based plastic products under its construction toy brand, Mega. Mega Bloks, will now feature three preschool building sets – Polar Friends, Safari Friends and Woodland Friends – derived from bio-based resins. The building sets have Forest Stewardship Council (FSC)-certified packaging that is fully recyclable. The Mega announcement
February 3, 2020 in Manufacturing -
The Joekels journey: 25 years in tea
In 25 years, South African tea company Joekels has developed from a small business housed in a garage into a category leader with seven different tea brands. Joekels Tea Packers was founded in 1994 by Joe Swart and Jonathan Kelsey. Back then, the company comprised just five staff members and one brand, Phendula Tips. Within
February 3, 2020 in Manufacturing -
Can capitalism solve capitalism’s problems?
Capitalism is in trouble – at least judging by recent polls. A session at Davos highlighted the consequences of capitalism. Fabrice Coffrini/AFP via Getty Images A majority of American millennials reject the economic system, while 55% of women age 18 to 54 say they prefer socialism. More Democrats now have a positive view of socialism
February 3, 2020 in Investments -
Brexit: here’s what happens next
This is just the beginning of the story. PA/Gareth Fuller The fundamental reason for this is that while the UK has left the EU, it has not yet established a new relationship. This year is a transition period, during which not much changes. The UK will no longer be a member of the European Union
January 31, 2020 in Investments -
SA family-owned Xmas cracker business inks Walmart export deal
Glenart, a South African Christmas cracker manufacturing company, has secured an export deal with American retail giant Walmart. The agreement will see the local business directly supplying their confetti-popping crackers to 800 Walmart stores in the US. Massmart, which is majority-owned by Walmart, is the owner of retail brands including Game, Makro, DionWired and Builders
January 30, 2020 in Manufacturing -
Rentvesting to become a reality in SA property market
They call it rentvesting, a label coined by millennials as they find disruptive ways to climb the property ladder. It is well known that this generation demands convenience, instant purchases, and being able to have access to what they want when they want it. The same is starting to apply in property where the market
January 30, 2020 in Property & Real Estate -
Tiger Brands CEO Lawrence Mac Dougall to retire, Noel Doyle appointed
Tiger Brands chief executive officer Lawrence Mac Dougall will be retiring on 31 January, SA’s largest food and beverage group announced on Wednesday. Lawrence Mac Dougall The company’s current chief financial officer, Noel Doyle, has been appointed to the CEO role, with effect from 1 February 2020. Mac Dougall has been at the helm of
January 30, 2020 in Manufacturing -
Fear spreads easily. That’s what gives the Wuhan coronavirus economic impact
One way to count the cost of the Wuhan coronavirus is by how many people catch it, and then how many die. Another is the direct financial costs of public health measures to treat those infected and contain its spread. Image source: Getty/Gallo Yet another is the wider economic cost. But how to calculate this?
January 30, 2020 in Investments -
Fear spreads easily. That’s what gives the Wuhan coronavirus economic impact
One way to count the cost of the Wuhan coronavirus is by how many people catch it, and then how many die. Another is the direct financial costs of public health measures to treat those infected and contain its spread. Image source: Getty/Gallo Yet another is the wider economic cost. But how to calculate this?
January 30, 2020 in Investments -
$50m Standard Bank funding to boost CCBA Ethiopia expansion
Standard Bank has arranged and structured $50m in financing facilities for Coca-Cola Beverages Africa (CCBA) to support its expansion strategy in Ethiopia over the next five years. The Coca-Cola Company holds a majority stake in CCBA, which is the largest bottler of Coca-Cola beverages in Africa – serving 13 countries on the continent – and
January 29, 2020 in Investments -
New cannery ramps up production of Clark & Sons mixers
South African soft drinks company Twizza has commissioned a state-of-the-art production canning line in Queenstown to can its popular Clark & Sons mixer range. “We’re really excited to announce that the canning line, our very first one, is up and running and in full operation,” says Ken Clark, who founded Twizza in 2003. Beginning as
January 28, 2020 in Manufacturing -
How CEOs, experts and philosophers see the world’s biggest risks differently
Activist Greta Thunberg was among attendees who want the world’s leaders to prioritise fighting climate change.AP Photo/Michael Probst But in order to adequately address them, we need agreement on which are priorities – and which aren’t. As it happens, the policymakers and business leaders who largely determine which risks become global priorities spent a week
January 28, 2020 in Investments -
Collaborative consumption – an emerging property trend for 2020 and beyond
The real estate industry is going through significant change for the first time in my 20-year history in this business. And it is technology-driven. I expect that more and more, players in our industry will adapt their business models to ensure that they stay relevant in times to come. And this includes the developers, who
January 27, 2020 in Property & Real Estate -
Coronavirus does not look like a ‘black swan’ event
China in lockdown. EPA Markets steadied and rose a little on January 24 as investors appeared to suspect that the fears were being overdone, but the situation remains on a knife edge. The worry is that this could be a black swan event, one that is so unpredictable and grave that it can bring about
January 27, 2020 in Investments -
The rising tide of the silver economy
Whilst we may not yet have discovered the long-coveted elixir of eternal youth, the truth is that humans are now getting older than ever before; we are living longer, leading more active lives and, as a result, the 60-plus age group is far more independent than their predecessors. The Booming Boomers: It’s forecast that by
January 27, 2020 in Property & Real Estate -
LG South Africa unveils newly-relocated head office, factory
LG South Africa recently unveiled its new relocated head office – which now includes a new LG brand shop on the same premises – in Midrand, Johannesburg. The South Korean multinational electronics company has also relocated its factory from Germiston to Durban – which it will unveil today. SA optimism President of LG MEA James
January 24, 2020 in Manufacturing -
UK-Africa trade and investment: who benefits?
British Prime Minister Boris Johnson (centre) with a host of African leaders at the UK Africa Investment Summit in London. EPA-EFE/Hollie Adams At the summit, Ghana, it seems, is being given top treatment as a favoured destination, while Zimbabwe appears to have been snubbed despite being “open for business”. UK aid policy these days is
January 24, 2020 in Investments -
SDGs create investment opportunities in Africa
There is a $197bn opportunity for private-sector investors in five high-growth markets in Africa to help achieve the United Nations Sustainable Development Goals (SDGs), with improving digital access making up $74.5bn of that total. Image source: Getty/Gallo Opportunity2030: The Standard Chartered SDG Investment Map reveals that invesors can contribute to three infrastructure-focused goals between now
January 24, 2020 in Investments -
Madison to acquire 46.5% equity stake in Redefine’s Polish logistics platform
Expected to be finalised by the end of February, Madison International Realty is acquiring a 46.5% equity stake in JSE-listed Redefine Properties’ Polish logistics platform held through European Logistics Investment (ELI). As part of the transaction, Griffin Real Estate, which own 5% in ELI, will acquire a further 2% from Redefine on the same terms
January 23, 2020 in Property & Real Estate -
Fiscal credibility, economic reform and investment drive
With a marginally supportive global outlook, we would have expected South Africa’s economic growth to pick up. However, domestic constraints remain binding. Electricity shortages, a weak consumer demand, and a constrained fiscus all contribute to weak economic growth outlook of about 1.0% this year and 1.5% in 2021. Isaah Mhlanga is chief economist of Alexander
January 23, 2020 in Investments -
Property is still a sound investment in SA, provided you take the right approach
Many investors may feel they’re better off putting their money elsewhere, whether that’s equities, index funds, bonds, or any other vehicles. Provided they invest in the right property vehicles in the right areas, however, there are still real opportunities in the South African property space. Bucking the trend While residential prices may be down overall,
January 23, 2020 in Property & Real Estate -
New report highlights thriving data centre market in SA, Sub-Saharan Africa
Image source: Gallo/Getty The research analyses input costs – including labour and materials – across 32 key markets, alongside industry sentiment and insight from data centre professionals. Hotspots in Africa The 2019 report points to the rise of new hotspots across the globe as technological investment in emerging economies takes hold. On the African continent,
January 23, 2020 in Property & Real Estate -
#BehindtheSelfie with… Atisha Gopichund, techno marketing director at Saint-Gobain
This week, we go behind the selfie with Atisha Gopichund-Lutchman, techno marketing director at Saint-Gobain sub-Saharan Africa. Gopichund captions her #BehindtheSelfie feature as follows: ”What I love about my job is that we can innovate and introduce new products and technologies that improve daily life.” 1. Where do you live, work and play? I was
January 22, 2020 in Manufacturing -
Impact of free trade area in Africa will be huge
Member States of the African Union (AU) have a combined population of over 1.2 billion people and gross domestic product of more than $3.4 trillion – yet the continent accounts for less than 3% of world trade. Within this, intra African trade accounts for only 15% of the continent’s total trade. The African Continental Free
January 21, 2020 in Investments -
Impact of free trade area in Africa will be huge
Member States of the African Union (AU) have a combined population of over 1.2 billion people and gross domestic product of more than $3.4 trillion – yet the continent accounts for less than 3% of world trade. Within this, intra African trade accounts for only 15% of the continent’s total trade. The African Continental Free
January 21, 2020 in Investments -
Weak economy expected to keep average commercial property vacancy rate rising
We head into 2020 with little in the way of improvement in key leading economic indicators, suggesting to us that the commercial property market will likely see “more of the same” this year, “more of the same” meaning further rise in the average vacancy rate, pressure on rental growth, further real capital depreciation, and, single
January 21, 2020 in Property & Real Estate -
Financial trading bots have fascinating similarities to people
Automated for the people. WhiteMocca Surprisingly, Zuboff’s concern doesn’t extend to the algorithms in financial markets that have replaced many of the humans on trading floors. Automated algorithmic trading took off around the beginning of the 21st century, first in the US but soon in Europe as well. One important driver was high-frequency trading, which
January 20, 2020 in Investments -
China’s investment in Africa’s mineral resources
When it comes to energy, it’s not just the traditional advocates of renewable energy that are leading the way, it is the world’s major emerging economies such as China and India that are driving this clean energy transition. Image source: Getty/Gallo According to the International Energy Agency (IEA) World Energy Outlook 2019 China’s growing energy
January 20, 2020 in Energy -
It’s all about the buyers
Predictions about the likely performance of an industry are rife at the beginning of a year, and even more so at the start of a new decade. Jokes about 2020 vision into the future aside, one can’t be blamed for wanting to know what to expect from the next 12 months, both politically and economically,
January 20, 2020 in Property & Real Estate -
Global investment trends of the next decade
The last 10 years have been somewhat of a rollercoaster; an era of disruption shaped by the fallout of the global financial crisis, strident technological advances influencing the way in which we live and work, numerous significant power and social shifts and influential emergent trends. Image supplied The next decade has been pegged as a
January 20, 2020 in Property & Real Estate -
The devil is in the detail when it comes to responsible investing
Civil society groups are flagging the risk of ‘greenwashing’ by companies. Shutterstock Officially, the majority of the world’s institutional investors, with assets under management worth more than US$89 trillion, subscribe to the Principles for Responsible Investment. In doing so, these companies have agreed to integrate environmental, social and governance factors into their investment processes. Yet,
January 17, 2020 in Investments -
Balancing the risks and opportunities on the African continent
It would be remiss to paint the African continent with one brush as many countries are at varying stages of their own macro and political cycles. Understanding these cycles and developments in relation to other earlier stage frontier and emerging markets gives us context to the investment risks and opportunities that present themselves. It is
January 16, 2020 in Investments -
Businesses need to drive the AfCFTA
The African Continental Free Trade Area (AfCFTA) is the subject of much excitement and debate at the moment. All but one of the 55 countries making up the continent have signed the agreement, which has been drawn up to create a single African market for goods and services and facilitate the free movement of people,
January 15, 2020 in Investments -
Businesses need to drive the AfCFTA
The African Continental Free Trade Area (AfCFTA) is the subject of much excitement and debate at the moment. All but one of the 55 countries making up the continent have signed the agreement, which has been drawn up to create a single African market for goods and services and facilitate the free movement of people,
January 15, 2020 in Investments -
US is more relaxed about oil spike than Europe
Up she goes. archigraf In keeping with many recent developments in US-Iranian relations, the Europeans have taken a dim view of America’s decision to take out the military commander. When trying to make sense of the very different approaches Iran on either side of the Atlantic, one factor that is often overlooked is that the
January 15, 2020 in Investments -
How politics and poverty affect electricity provision in Zimbabwe
Untapped energy sources: hydro-power potential is concentrated along the Zambezi River in Zimbabwe. Image source: Gallo/Getty The country has access to vast and diverse possible energy resources. These include about 12 billion metric tonnes of coal, hydro power potential concentrated along the Zambezi River and untapped solar power potential. This is not peculiar to Zimbabwe.
January 15, 2020 in Energy -
Compare Forex Brokers releases the 2020 Best Forex Broker list
The global forex comparison website compareforexbrokers.com each year reviews forex brokers in South Africa and other key currency trading hotspots like Singapore, Australia and the UK. To determine the best brokers for South African traders factors such as brokerage fees, forex platform and customer service are compared. Additionally, the broker needs to be regulated (or
January 14, 2020 in Investments -
Radisson Hotel set to debut in Reunion Island
The Radisson Hotel Group has signed the Radisson Hotel Saint Denis in Reunion Island. The group is now present in three of the four main Indian Ocean Islands, bringing their Indian Ocean portfolio to seven hotels in operation and under development. Images Supplied. Elie Younes, executive vice president and chief development officer, Radisson Hotel Group,
January 13, 2020 in Property & Real Estate -
Radisson Hotel set to debut in Reunion Island
The Radisson Hotel Group has signed the Radisson Hotel Saint Denis in Reunion Island. The group is now present in three of the four main Indian Ocean Islands, bringing their Indian Ocean portfolio to seven hotels in operation and under development. Images Supplied. Elie Younes, executive vice president and chief development officer, Radisson Hotel Group,
January 13, 2020 in Property & Real Estate -
Female leadership in SA’s property sector needs to be prioritised
We’ve made significant strides in the last decade and there is visible progress of women being integrated into various roles within different segments of South Africa’s property sector. However, a significant challenge we still face is in ensuring that women are represented in senior roles within the industry. Nonhlanhla Mayisela, chair of Women’s Property Network
January 13, 2020 in Property & Real Estate -
Key development trends to drive the new South African city
The post-apartheid development of South African cities stimulated a refreshing injection of global ideas, creativity and talent, but this injection was largely defined by Western narratives and investment. A quarter of a century later, our cities are evolving in the face of rapid urbanisation and we are beginning to take ownership of our compelling, complex,
January 10, 2020 in Property & Real Estate -
#BizTrends2020: South Africa – challenges and opportunities in the year ahead
South Africa is experiencing a period of prolonged political and economic uncertainty, but the country’s commitment to improving the local investment environment, combined with signs of future economic improvement, have resulted in increases in M&A value and volume predictions in South Africa in 2021 and 2022. In addition, shifting global trade patterns are resulting in
January 8, 2020 in Investments -
Nampak unveils new liquid carton facility
Africa’s largest packaging company, Nampak, officially launched its Liquid Carton divisions’ new Technical Hub in Roodepoort, Johannesburg, on 12 December 2019. In one of his last official acts before leaving to head up Eskom, Nampak CEO André De Ruyter unveiled the new hub, cutting the ribbon during the facility’s opening ceremony. André De Ruyter The
January 7, 2020 in Manufacturing -
3 key trends shaping Africa’s property sector
When looking at trends in Africa, it’s always important not to fall into that all too common trap of seeing the continent as a homogeneous entity. Every country in Africa is different and has its own unique trends and socio-economic drivers. However, when it comes to what’s shaping Africa’s various property sectors, there are a
January 6, 2020 in Property & Real Estate -
3 reasons why it’s a good time to buy a holiday home
It’s the festive season and most South Africans will be flocking to their favourite parts of the country for a few weeks of relaxation, sun and quality time with the family. And, if you’re in the mood to make your vacation experience a more permanent one, it may be the ideal time to find your
December 31, 2019 in Property & Real Estate -
5 pillars for better economic prospects in SA
The combination of economic and political developments over the past 12 months in SA has generated particular interest in the outlook for the economy in 2020. What are some of the relevant factors to be taken into account as the next year unfolds? 2019 was the year in which the bad news about the economy
December 31, 2019 in Investments -
2020 investments – here’s what to expect
Looking abroad, massive events have been dominating the global investment landscape for the last few years. These events are going to substantially change the way investors approach investment. The election of Boris Johnson has cemented the fact that Brexit is definitely going to happen. What is important to consider now is how this will fundamentally
December 31, 2019 in Investments -
Why the outlook for fixing Nigeria’s energy crisis isn’t good
The power sector is at the heart of the economy in Nigeria. In its 2014 manifesto the party promised to expand electricity generation and distribution to supply 40,000 megawatts in four to eight years. It also said it would make power available from renewable energy sources, such as solar, hydro, wind and biomass, for domestic
December 30, 2019 in Investments -
Global payments firm WorldFirst launches ops in Dubai’s DIFC
UK-headquartered WorldFirst expands to Dubai to provide currency exchange services and cross-border payment solutions for e-commerce businesses and individuals Dubai International Financial Centre (DIFC) has announced the launch of global currency exchange and payments company WorldFirst in the emirate. UK-headquartered WorldFirst has expanded to Dubai with a representative office in the DIFC which will enable
December 27, 2019 in Business News -
4 factors to consider to make an investment property work for you
All things considered, property remains a reliable choice of investment if you’re willing to play the long game. Despite the South African economy not being in the best way, one only needs to look at new developments in Cape Town and Johannesburg for reassurance that the tides are turning, albeit slowly. Now is a great
December 27, 2019 in Property & Real Estate -
Malawi solar energy project to add 46MW to local power supply
After attracting $67m in investment, one of Malawi’s first solar projects has reached financial close. Initial site works have begun in Nkhotakota, and construction of the first phase is targeted for completion by March 2020. Once complete, the project will add 46MW of clean energy to the local power supply. Image supplied Developed by UAE-based
December 27, 2019 in Energy -
What are the prospects for GCC banks in 2020?
Moody’s Investors Service says the outlook for GCC banks remains stable, expect in Oman The outlook for GCC banks remains stable, underpinned by solid economic growth, and by the banks’ strong capital buffers and substantial liquidity, according to Moody’s Investors Service. The ratings agency said Gulf government spending programs will push average non-hydrocarbon GDP growth
December 26, 2019 in Business News -
Ajman mall upgraded as major revamp project finishes
Revamp sees the mall transform from a community centre to a regional shopping destination housing 130 international brands and restaurants A multi-phase redevelopment has been completed at City Centre Ajman, it was announced on Monday. This revamp sees the mall transform from a community centre to a regional shopping and lifestyle destination housing a mix
December 26, 2019 in Business News -
UAE developer says new $160m Moroccan project to create over 1,100 jobs
Abu Dhabi-based real estate developer Imkan reveals ambitious project on the corniche of the coastal city of Rabat in Morocco Abu-Dhabi based real estate developer Imkan has launched an ambitious project on the corniche of the coastal city of Rabat in Morocco. Le Carrousel spans over 100,000 square metres along Rabat’s picturesque Atlantic coastline, the
December 25, 2019 in Business News -
Etihad Airways becomes first foreign carrier to fly into new Jeddah terminal
Airline receives traditional water cannon salute as Dreamliner 787 with Saudi livery touched down at Terminal 1 at King Abdulaziz International Airport Etihad Airways, the national airline of the UAE, has become the first foreign carrier to operate flights to King Abdulaziz International Airport’s new Terminal 1 in Jeddah. The airline received a special reception
December 25, 2019 in Business News -
Why Saudi Aramco’s IPO is no ordinary share sale
Saudi Aramco’s much heralded and oft-delayed initial public offering is going ahead – albeit in a scaled-down version of the original plan by Saudi Crown Prince Mohammed bin Salman. There’ll be no grand opening on the London or New York stock exchanges – the sale is restricted to the Saudi bourse and won’t even by
December 24, 2019 in Business News -
AfDB-managed fund grants $1m to support Burundi solar-hydro hybrid project
The African Development Bank-managed Sustainable Energy Fund for Africa (SEFA) has approved a $990,000 grant to support the preparation of a 9MW solar-hydro hybrid project in Burundi. The project consists of two plants, each featuring a solar and a hydro component as well as a local distribution network and interconnection to the national power grid.
December 24, 2019 in Energy -
Rights, obligations and recourse for short-term rental properties
“In recent years, sectional title properties have grown in popularity to become the preferred choice of holiday accommodation in most destination hotspots and therefore also the most attractive property type for buyers seeking short-term buy-to-let investments,” says Brett Leon, MD of Lew Geffen Sotheby’s International Realty, Atlantic Seaboard and City Bowl. Image supplied “And, if
December 24, 2019 in Property & Real Estate -
Entrepreneurs of the Week: Zbooni founders Ramy Assaf and Ashraf Atia
Zbooni founders Ramy Assaf and Ashraf Atia have used their heads to develop an idea that started by helping a hat business to prosper Launched in September last year by entrepreneurs Ramy Assaf and Ashraf Atia, home-grown UAE payment app, Zbooni, has 25,000 businesses transacting millions every month. The app is designed to allow merchants,
December 23, 2019 in Business News -
Marriott, Landmark Sabbour sign agreement to open W Hotel in Cairo
Marriott International has entered into an agreement with Landmark Sabbour to bring the W Brand’s design to Cairo. Expected to open in 2024, W Cairo will be situated in 1-Ninety – a 300,000 sqm mixed-use development in the emerging New Cairo district featuring retail space, commercial and residential components. Amr Sultan, managing director of Landmark
December 23, 2019 in Property & Real Estate -
Is the 'Santa Rally' real?
Investors found their festive spirits dampened at the end of 2018. With concerns over the health of the global economy looming large, global stocks fell 13.7% in the final quarter of the year, according to the MSCI World Index. Read more… | Send to a friend Source link
December 23, 2019 in Investments -
Sound strategy essential for rental investors in the Western Cape
The Western Cape rentals market, renowned for its historically record-breaking returns, has raised eyebrows with an uncharacteristically severe decline over the last three years. With market strength plummeting from 85.57 to 45.32 since 2016 (TPN Rental Monitor Residential Sector Q2 2019), many rental investors are feeling justifiably pessimistic. However, the Western Cape rental market is
December 23, 2019 in Property & Real Estate -
When did toys turn into rocket science?
I’m a geek. And as a geek, I love my tech toys. But over time I’ve noticed toys are becoming harder to understand. Some modern toys resemble advanced devices. There are flying toys, walking toys, and roving toys. A number of these require “configuring” or “connecting”. The line between toy, gadget and professional device is
December 23, 2019 in Manufacturing -
Carrefour launches first UAE in-store farms to reduce carbon footprint
First hydroponic farms in Abu Dhabi aim to supply locally grown agricultural products across all Carrefour stores in the UAE Carrefour has launched the region’s first hydroponic in-store farms at Carrefour in Abu Dhabi which aim to supply locally grown agricultural products across all Carrefour stores in the UAE. Dr Thani bin Ahmed Al Zeyoudi,
December 23, 2019 in Business News -
Dubai Police adds 315km/hr Mercedes to luxury patrol fleet
Mercedes-AMG GT 63 S joins fleet of luxury cars used to patrol key tourist destinations in Dubai Dubai Police has announced the addition of the new Mercedes-AMG GT 63 S to its fleet of luxury patrol cars, capable of a top speed of 315km/hr. Major General Abdullah Khalifa Al Marri, Commander-in-Chief of Dubai Police, said
December 22, 2019 in Business News -
UAE leaders urge gov’t to turn ‘every challenge into opportunity’
Dubai ruler and Abu Dhabi crown prince make call as they chair the third UAE Government annual meetings in Abu Dhabi UAE leaders have urged government teams to “turn every challenge into opportunity” to ensure they make a positive impact on the quality of life. Sheikh Mohammed bin Rashid Al Maktoum, Vice President, Prime Minister
December 21, 2019 in Business News -
Expo 2020 Dubai to host Cityscape, Comic Con, Games Con
Mega event has partnered with UK-based Informa and will also host the World Government Summit Expo 2020 Dubai will host the region’s key business and entertainment events including real estate exhibition Cityscape Global (10-12 November 2020), pop culture festival Middle East Film and Comic Con (4-6 March 2021), which is expected to attract over 45,000 people, and
December 21, 2019 in Business News -
Watch: Incredible footage as lightning bolt just misses Emirates A380 aircraft
Dramatic footage has been posted online of an Emirates Airbus A380 aircraft almost being struck by lightning at Christchurch Airport in New Zealand. The short film was captured by a pilot from Garden City Helicopters during a severe thunderstorm in the area on Wednesday last week. “The view out our window onto the tarmac today!”
December 20, 2019 in Business News -
Tips for first-time buyers on choosing the right property
Purchasing your first home is an exciting adventure, but it can also be an extremely stressful one. There are so many aspects to consider when making such an important life choice. Budget – how much can you afford to pay? Which bank or financial institution – who should you approach for a home loan? Who
December 20, 2019 in Property & Real Estate -
Aleph Hospitality opens first hotel in Kenya
Dubai-based Aleph Hospitality has opened the Best Western Plus Westlands hotel in Nairobi, Kenya. The new opening marks the company’s continued expansion in Kenya, where it has already signed management contracts for three hotels currently under development, namely the Protea Hotel by Marriott in Kisumu; an airport hotel in Nairobi and a property in the
December 20, 2019 in Property & Real Estate -
Emirates gets court approval for December flights to Mexico
A Mexican court has ruled that a legal challenge from Aeromexico is not enough to prevent Dubai-based Emirates from beginning flights to the country from December 9, according to Mexican media reports. In July, the UAE government signed a bilateral air services agreement with the Mexican government to allow Emirates to operate the route, which
December 20, 2019 in Business News -
Fitch maintains SA BB+ rating
Rating agency Fitch announced its decision this week to affirm South Africa’s long-term foreign and local currency debt ratings at ‘BB+’ and maintain the negative outlook. The country’s foreign and local credit ratings by the agency, therefore, remain one notch below investment grade. According to Fitch, South Africa’s ratings are constrained by low growth potential,
December 19, 2019 in Investments -
Dubai signs up Hollywood stars for new tourism film
Gwyneth Paltrow, Kate Hudson and Zoe Saldana star in A Story Takes Flight which took eight days to shoot Dubai’s Department of Tourism and Commerce Marketing (Dubai Tourism) has announced a new collaboration with Hollywood superstars Gwyneth Paltrow, Kate Hudson and Zoe Saldana. The project centres around the short film A Story Takes Flight, which
December 19, 2019 in Business News -
Outlook for Cape Town property landscape
As we end 2019, and reflect on some of the highlights, it’s heartening to note that banks were lending up to 105% and aggressively competing for business – to this end, the sentiment was that this was a bullish move by the banks and likely to have been based on a sense that the market
December 19, 2019 in Property & Real Estate -
Process manufacturing in 2020: Sustainability and servitisation
Everybody wants sustainable products, and retailers are putting pressure on manufacturers to deliver goods that satisfy consumers’ new preference for green and clean options. Credit: Getty This means manufacturers need to implement technology to track where their products come from and what they are made of. They will also need to plan around shorter shelf
December 19, 2019 in Manufacturing -
Singing star Akon reveals plan to run for US President
Senegalese-American gave keynote address at the Sharjah Entrepreneurship Festival Senegalese-American singer Akon has confirmed his intention to run for US President in 2024. And he said he’s looking forward to going up against fellow music mogul Kanye West, who has also indicated a desire to run for the Oval Office in five years’ time. The
December 18, 2019 in Business News -
How professionals are investing in volatile market conditions
Recent market volatility and the uncertain investment climate has raised questions amongst South African investors. Industry trends show that investors are reducing their equity exposure and increasing their exposure to fixed interest investments. Although equities have outperformed fixed interest over the last 25 years, in recent times, investors have started to prefer the relative safety
December 18, 2019 in Investments -
700 UAE prisoners freed as Indian businessman pays Dh1 million to cover their debt
UAE-based Indian millionaire Firoz Merchant has paid AED1 million ($272,242) to clear the debt of 700 prisoners in the UAE and pay for their return to their home as part of his programme the Forgotten Society, which he founded in 2008. The founder and chairman of retailer Pure Gold Group said the move is in
December 18, 2019 in Business News -
Will SA equities bounce back in 2020, or is fixed income still the best bet?
As the sun sets on 2019, weaker nominal growth has led to another year of disappointment in government revenue collections, while a sovereign downgrade by Moody’s is looking increasingly probable in 2020. Herman van Papendorp While incremental gains on structural reform efforts herald a tepid growth recovery in South Africa from less than 0.5% in
December 17, 2019 in Investments -
Excise tax is really an opportunity for UAE retailers
The legislation has the potential to open up far more opportunities than it closes, and therefore shouldn’t be something that the retail industry is resistant to, writes Mohammad A. Baker, Deputy Chairman & CEO of Gulf Marketing Group From December 1, the UAE’s extended excise tax on sugary drinks and new tax on vaping fluid
December 17, 2019 in Business News -
Growthpoint Investec African Properties acquires 100% of RMB Westport
Growthpoint Investec African Properties (GIAP) announced last week that it has successfully concluded the acquisition of 100% of RMB Westport Real Estate Development Fund Limited (RMB Westport), the entity which houses the assets developed and owned by RMB Westport’s inaugural property development fund. Manda Hill Shopping Centre in Zambia This transaction follows the recently announced
December 17, 2019 in Property & Real Estate -
Set yourself apart as a property entrepreneur, everything you need to know
The statements, views, thoughts, and/or opinions expressed in this article should not be construed as fact, or relied upon as advice. Any action taken based on the information provided in this article is strictly at your own risk. When it comes to entering or furthering a career in property investment, do your research, make sure
December 17, 2019 in Property & Real Estate -
#BestofBiz 2019: Finance & Insurance
We’ve compiled our annual #BestofBiz 2019 lists across all our industries featuring our most popular articles, most-read contributors and brand press offices with the most views. Discover the most read content on Bizcommunity’s Finance & Insurance site over the past year below. Read more… | Send to a friend Source link
December 17, 2019 in Venture Capital -
#BestofBiz 2019: Energy & Mining
We’ve compiled our annual #BestofBiz 2019 lists across all our industries featuring our most popular articles, most-read contributors and brand press offices with the most views. Discover the most read content on Bizcommunity’s Energy & Mining site over the past year below. Read more… | Send to a friend Source link
December 17, 2019 in Energy -
#BestofBiz 2019: Property
Comment guidelines and disclaimer LEGAL DISCLAIMER: This Message Board accepts no liability of legal consequences that arise from the Message Boards (e.g. defamation, slander, or other such crimes). All posted messages are the sole property of their respective authors. The maintainer does retain the right to remove any message posts for whatever reasons. People that
December 17, 2019 in Property & Real Estate -
COFE app makes UK Premiere at London Coffee Shop Innovation Expo 2019
COFE recognised as one of the top five startups to be nominated for the London Tech Innovation Award. COFE, the coffee-centric online marketplace that connects coffee house chains and specialty coffee roasters with coffee lovers through a seamless, easy and efficient mobile application participated alongside big named brands including Costa Coffee, Pret A Manger, Café
December 16, 2019 in Business News -
US has ‘too much at stake’ not to secure $60m funding for Expo 2020 Dubai pavilion – Pompeo
Secretary of State said failure to secure funding would impact the US bid to host the World Expo in 2027 or 2030 As the United States grapples over securing funding to build its pavilion at Expo 2020 Dubai, Secretary of State Mike Pompeo said there is “too much at stake” for the country not to
December 16, 2019 in Business News -
Oman sees path to achieve peace between Saudis, Yemen rebels
US Secretary of State Mike Pompeo and Omani Foreign Minister Yousef Bin Alawi agreed that only a political solution will bring an end to the conflict Omani Foreign Minister Yousef Bin Alawi said he is optimistic that an agreement between Saudi Arabia and the Houthi rebels could be reached to end the four-year-war in Yemen.
December 15, 2019 in Business News -
Abu Dhabi’s Aldar to build $2.18bn Saadiyat Grove mega project
Abu Dhabi Executive Office chairman launches new community located in the heart of the Cultural District on Saadiyat Island Sheikh Khalid bin Mohamed bin Zayed Al Nahyan, chairman of the Abu Dhabi Executive Office, on Monday launched Saadiyat Grove, an AED8 billion ($2.18 billion) community located in the heart of the Cultural District on Saadiyat
December 14, 2019 in Business News -
UAE billionaire wealth falls more than $4bn to under $20bn
UBS and PwC Billionaires Insights report reveals there were seven billionaires in the UAe in 2018, unchanged from previous year The number of billionaires living in the UAE remained unchanged in 2018 compared to the previous year, a new report has revealed. In the UAE, there were seven billionaires last year and their total wealth
December 14, 2019 in Business News -
Driverless cars could hit UAE roads in 2021, says top official
ESMA chief says first draft of the standards and regulations for autonomous vehicles will be announced on Tuesday Driverless vehicles could hit the UAE roads in 2021 as the UAE is preparing to become the first country in the world to have regulations on autonomous vehicles, a top official said on Monday. The first draft
December 13, 2019 in Business News -
Technology trends impacting global manufacturing in 2020
It is no secret that the manufacturing sector is critically important for both developed and emerging economies. From producing necessities like food for a nation to creating much-needed jobs, the sector is a source of innovation, productivity and global trade. Credit: Getty According to McKinsey, the sector now accounts for approximately 16% of global GDP
December 13, 2019 in Manufacturing -
Clear win gives Johnson the thumbs up for Brexit
British Prime Minister Boris Johnson must be feeling very smug this morning. His gamble paid off. His win in yesterday’s snap general election gives him a clear mandate to push ahead with his Brexit deal. Image source: Getty/Gallo The election outcome is no ‘silver bullet’ for the Brexit issue. Brexit is a process, not an
December 13, 2019 in Investments -
Saudi crackdown extended as intellectuals detained
Those detained included Fouad Al-Farhan, a prominent blogger; Abdulmajeed al-Buluwi, a writer and political analyst; and Wa’ad al-Muhaya, a self-taught philosophy enthusiast Saudi Arabia arrested at least eight intellectuals last week as it extended a crackdown on political dissent that’s sparked condemnation abroad. Those detained included Fouad Al-Farhan, a prominent blogger; Abdulmajeed al-Buluwi, a writer
December 13, 2019 in Business News -
The quirks of a British election explained
It’s fair to say the British public is not thrilled to be back at the polls. Shutterstock The reasons for holding this particular “snap election” are open to dispute. The governing Conservatives argued that it was needed because parliament is blocking Brexit. It’s certainly true that the House of Commons has been unable to find
December 12, 2019 in Investments -
Bahrain’s Investcorp buys Leeds hub as UK industrial portfolio grows
Investcorp completes its third UK Industrial and Logistics Programme followingacquisition of fulfilment centre in Leeds Bahrain-based Investcorp has announced the completion of its third UK Industrial and Logistics Programme (UKIL III) following its acquisition of a £16 million ($20.6 million) fulfilment centre in Leeds. Investcorp said that since June 2007 it has acquired industrial and
December 12, 2019 in Business News -
Outlook and trends in the residential property market
Following another year of tepid economic growth, and with the latest round of load shedding further dampening the economy and expected to result in a Moody’s downgrade early next year, where does that leave South Africa’s residential property market? Dr Andrew Golding, chief executive of the Pam Golding Property group With household finances under pressure
December 12, 2019 in Property & Real Estate -
‘I had never seen anything like it before’ – Kim Kardashian reveals Dubai moment she knew she had really made it
American reality TV star Kim Kardashian visited Dubai for a the launch of a milkshake store in 2011 American reality TV star Kim Kardashian West has revealed that the moment she realised she had really made it as an international celebrity and her fame could make any endorsement a success was the reaction to her
December 11, 2019 in Business News -
What South Africans should consider before investing in the forex market?
The forex market is the most liquid market in the world with over $6 trillion USD daily traded volume that makes it attractive for South African investors. Many South Africans are now trading in forex and leveraged CFDs as some figures suggest there could be as high as 190,000 forex traders in South Africa. But
December 11, 2019 in Investments -
CT scoops highest prices paid for residential property despite challenging year
For the 12-month period to end November, Cape Town topped R21.75bn in residential property transactions at an average transaction value of R2.2m. The metro also scooped the highest prices paid for residential property in the country this year according to Ross Levin, managing director for Seeff Atlantic Seaboard and City Bowl. Image supplied Comparatively, Pretoria
December 11, 2019 in Property & Real Estate -
India’s big plan to bring rupee trading home is an uphill task
India’s authorities are concerned a surge in rupee trading overseas threatens the stability of the currency, especially in times of stress As London does more rupee trading than Mumbai, authorities in India are taking steps to get foreigners to transact onshore. Analysts say that will be no easy task. There’s no good reason for market
December 11, 2019 in Business News -
Newly launched Middle East Fitness Business Summit to feature international cricketer turned entrepreneur, Matt Prior
The Middle East Fitness Business Summit is a new business conference designed for fitness investors, entrepreneurs, gym owners/managers, and other fitness and wellness professionals Taking place on 5 December 2019 at the Dubai World Trade Centre, the Middle East Fitness Business Summit will feature some of the foremost business leaders working in the fitness space
December 10, 2019 in Business News -
Why you should choose rental homes as carefully as your own
When buying an investment property, you should apply the same “rules” about location, condition and security as when buying a home for yourself. Volatile equity markets, relatively low interest rates and banks eager to lend on residential property have spurred an increase in buy-to-let purchases this year, in spite of slow rental growth rates. An
December 10, 2019 in Property & Real Estate -
10 children’s toys on the safety WATCH list for 2019
Those looking to buy children’s toys for Christmas presents need to be aware that dangerous toys are for sale in store and online, many of which contain hidden hazards that unnecessarily put children at risk of injury. The Anstoy electronic toy gun made the WATCH 2019 list of toys most likely to cause injuries. These
December 10, 2019 in Manufacturing -
Wesgro Western Cape Property Report 2018/19 launched
Said Tim Harris, CEO of Wesgro: “This is a report that will enable both current and future investors to make the best possible decisions in terms of where to base their operations with the Western Cape, whether they are looking to set up a factory in an industrial area, opening a corporate office or even
December 10, 2019 in Property & Real Estate -
Residential property market growth predicted for late 2020
Experts in the South African residential market predict no improvement until the final quarter of 2020, when supply is expected to align better with demand. Till then growth will remain stagnant, according to Ben Shaw, CEO of HouseME. Image source: Gallo/Getty Shaw says that rental growth across the entire country has been below inflation for
December 10, 2019 in Property & Real Estate -
UK general election: The impact four possible results will have on Brexit
From crashing out without a deal to holding another referendum and remaining in the European Union, the range of outcomes is still wide open It will be no ordinary general election. Voters in Britain are now focusing their minds on the decision they will make in two weeks’ time. The result will determine not just
December 9, 2019 in Business News -
Nairobi prime residential values continue to drop
Values of prime residential real estate continued to drop as the market softens, albeit at a slower pace compared to the 6.7% in the year to June and 6.5% in the year to March, as buyers sought opportunities in a market segment still influenced by oversupply and distressed properties. The values have been declining at
December 9, 2019 in Property & Real Estate -
IndiGo to suspend Dubai flights from Chandigarh in winter
The Indian budget carrier also comes under renewed pressure from DGCA on replacement of trouble-prone Pratt &Whitney (P&W) engines fitted on its A320neos India’s budget carrier IndiGo has sought to suspend its Dubai flights from the northern Indian city of Chandigarh during winter, as it looks to save on the costs of diversions and cancellations.
December 9, 2019 in Business News -
Why property developers need to create more agile business models
Many business models around the world are under pressure, now more than ever, to be able to respond more speedily to volatile developments in the global markets and local political and economic climate. They have to demonstrate that they have the ability to carry out a ‘fire drill’ for recovery from severe shocks under a
December 9, 2019 in Property & Real Estate -
Huawei smartphones slip in GCC popularity as US woes weigh
Huawei’s demand has taken a hit due to problems in the US coupled with success of Samsung’s A series Chinese tech giant Huawei dropped down from its number-two position in the Gulf Cooperation Council (GCC) smartphone market for the first time in a year, according to the latest figures from global technology and consulting services firm
December 8, 2019 in Business News -
Dubai property transactions reach record one-day high
Volume of sales transactions is 4 percent higher to date this year than all of 2018 Dubai saw the most property transactions in a single day since the heady days of 2008 on Sunday last, according to new data. A total of 515 real estate transactions – worth $241 million (AED 888.3m) – were registered
December 8, 2019 in Business News -
UAE President pardons 662 prisoners ahead of 48th National Day
Sheikh Khalifa also pledged to settle the financial obligations of the released prisoners. UAE President Sheikh Khalifa bin Zayed Al Nahyan has ordered the release of 662 prisoners – serving various sentences – ahead of the country’s 48th National Day. Sheikh Khalifa also pledged to settle the financial obligations of the released prisoners, UAE news
December 7, 2019 in Business News -
Emirates airline expecting 200,000 passengers from Dubai over UAE National Day holiday
Top five destinations for UAE residents over the upcoming five-day holiday weekend are Georgia, Armenia, Baku, Istanbul and the Maldives Emirates airline has revealed it expects over 40,000 passengers to travel through its Terminal 3 at Dubai International Airport on Friday ahead of the 48th UAE National Day holiday. The airline has issued a reminder
December 6, 2019 in Business News -
Diversification is key during market uncertainty
After a quiet start to the third quarter, a familiar script began playing out with President Donald Trump once again proceeding to threaten China with additional tariffs on imports. Reza Hendrikse His series of early-August tweets, wherein he also labelled China as “currency manipulators”, made it clear that their trade dispute remains far from resolution,
December 6, 2019 in Investments -
Reasons to stay in the local housing market
Recent reports reveal that emigration sales are on the rise, climbing from 7.3% of property sales in 2017 to 15.7% of sales in Q3 2019. While some may well be choosing to leave, those who choose to invest in the local property market can be glad they chose to stay instead. The South African housing
December 6, 2019 in Property & Real Estate -
Akon warns against celebrity-backed cryptocurrencies
Senegalese-American singing star Akon has warned against celebrity-endorsed cryptocurrency – as he prepares to launch his own branded Akoin to the world. Boxing legend Floyd Mayweather is just one celebrity to have been caught up in a cryptocurrency controversy in recent years for his work with Centra, which claimed to have partnerships with Visa and
December 6, 2019 in Business News -
India asks IndiGo to gradually ground unmodified A320 jets
The Directorate General of Civil Aviation essentially prevents IndiGo from adding new routes or increasing frequencies until the engine issues are fixed An order for IndiGo to ground some of its Airbus A320neo planes for engine upgrades could impede the expansion of one of the world’s fastest-growing airlines. For every addition to its fleet, IndiGo
December 5, 2019 in Business News -
Dubai earns more Brownie Points with planned expansion
Brownie Point is to open three new outlets in Dubai. Founded in 1997, the cakes and desserts favourite currently has five shops in the emirate. Rajbir Kohli, managing director, told Arabian Business: “This will take a store count to eight outlets and we will be able to serve every corner of Dubai adequately.” While also
December 4, 2019 in Business News -
Nando’s reveals UAE expansion plan after Dubai Mall opening
South African restaurant chain has 22 outlets throughout the UAE but is targeting more Nando’s opened its flagship store in Dubai Mall this week and immediately targeted more new outlets in the emirate. Almost four years since the South African restaurant chain left the food court area of the mall, it has returned in a
December 4, 2019 in Business News -
Abu Dhabi’s Aldar launches new rent to own scheme
Enrolled customers can build equity in their homes over 1-3 years with no rent escalations or fees Aldar Properties is launching a new rent to own scheme that offers customers the ability to build equity in their homes over one, two or three years, in a select number of units across Aldar’s Ansam, Al Hadeel
December 3, 2019 in Business News -
Is South Africa’s economic challenge moving the country into a debt trap?
South Africa’s economy is in a precarious state, judging from Minister of Finance, Tito Mboweni’s 2019 Medium Term Budget Policy Statement (MTBS). The Finance Minister presented a dire view of the South Africa economy which is characterised by excessive government spending, the collective impact from load shedding, weak investments and slow growth in most sectors
December 3, 2019 in Investments -
Electric cars might not yet be green, but we should buy them anyway
Electric vehicles are often hailed as the solution to this quandary, but some question their environmental credentials. With much of the world’s electricity still produced from fossil fuels, the criticism goes that EVs may actually be responsible for more carbon emissions over their lifetime than combustion engine vehicles. As German economics professor Hans-Werner Sinn put
December 3, 2019 in Energy -
Bahrain’s Investcorp invests $45m in Indian healthcare firm
Investcorp has announced that it has closed a $45m investment in Nephrocare Health Services Private Limited Bahrain-based alternative asset manager Investcorp has announced that it has closed a $45 million investment in Nephrocare Health Services Private Limited. Founded in 2010 by Vikram Vuppala and Kamal D Shah, NephroPlus is a dialysis service provider in India
December 3, 2019 in Business News -
Dubai developer set to rebrand luxury Palm Jumeirah properties
Seven Tides has announced it is rebranding and relaunching its hotel and residential apartments development in Dubai UAE-headquartered upscale property developer Seven Tides has announced it is rebranding and relaunching its hotel and residential apartments development on the Palm Jumeirah. The two towers within the overall development – previously known together as the SE7EN Residences
December 2, 2019 in Business News -
Using solar energy to contribute to SA’s national electricity grid
According to Manie de Waal, CEO of Energy Partners Solar, commercial solar energy becoming increasingly affordable with the cost of photovoltaic (PV) systems declining, agricultural operations in South Africa may have a lot to offer the national grid in the future. However, it is dependent on government making the necessary changes to allow for greater
December 2, 2019 in Energy -
Private equity helps, rather than hinders, job creation
There has been a string of negative conversations headlining in the US press, blaming private equity (PE) for massive job losses and calling for tougher regulations. Tanya van Lill “While we firmly agree that prudent business practices should be a focus area – and that PE firms should apply conservatism to try ensure the capital
December 2, 2019 in Investments -
Abu Dhabi crown prince orders $1.8bn housing packages for Emiratis
Sheikh Mohamed bin Zayed Al Nahyan’s directive aims to double the number of housing loans to UAE citizens Sheikh Mohamed bin Zayed Al Nahyan, Crown Prince of Abu Dhabi, on Tuesday ordered AED6.6 billion ($1.8 billion) in housing packages to be granted to more than 5,000 UAE nationals within Abu Dhabi. The disbursement – including
December 1, 2019 in Business News -
Revealed: Abu Dhabi’s plan to become global air cargo hub
Abu Dhabi Airports and Etihad Cargo announce major project to enhance Abu Dhabi International Airport into air cargo centre of excellence Abu Dhabi Airports and Etihad Cargo on Tuesday announced a major project to enhance Abu Dhabi International Airport into a global air cargo centre of excellence. The two entities said they will implement a
December 1, 2019 in Business News -
More details revealed about new Abu Dhabi airport terminal
Abu Dhabi Airports Company says Midfield Terminal Building project will set the benchmark for all airports over the next 20 years Abu Dhabi Airports Company (ADAC) on Tuesday said its Midfield Terminal Building project will set the benchmark for all airports over the next 20 years. The comments were made on the sidelines of this
November 30, 2019 in Business News -
Dubai’s F&B operators must work harder to compete, says CEO of Solutions Leisure Group
Solutions Leisure Group, which turned over $150m last year, operates Lock, Stock & Barrel (LSB), Asia Asia, STK, Wavehouse, Karma Kafe, Q43, The Central and District Paul Evans, CEO of Solutions Leisure Group, has denied that the F&B market in Dubai is overcrowded and said operators are struggling because they are not working hard enough
November 29, 2019 in Business News -
Land expropriation update – Private Property South Africa
Homeowner concerns around land expropriation and what this could mean for you. On Wednesday (27 November 2019), the long-awaited draft bill to amend Section 25 (S25) of the Constitution, relative to land reform, will be presented to members of parliament for deliberation. This has created, in the weeks preceding, some fear-mongering on social media platforms,
November 29, 2019 in Property & Real Estate -
#GlobalGenderSummit: ‘Financial sector has a responsibility to women of Africa’
At the recent inaugural session of the Global Gender Summit, hosted by the African Development Bank (AfDB), the organisation’s president, Akinwumi Adesina, called for greater access to finance for African women. Image source: Gallo/Getty “When women borrow, they always repay. And 90% of them repay their loans without the least problem. So, where is the
November 29, 2019 in Venture Capital -
Sheikh Ahmed: Emirates airline still denied access to ‘many cities’
Emirates chairman says national carriers in some countries were very influential in blocking them access There are “many cities” around the world Emirates airline would like to operate direct flights to but faces opposition from the local government or the country’s national carrier, according to the Dubai airline’s chairman. “Certain national carriers are very influential
November 29, 2019 in Business News -
Vukile sells all non-retail property assets to Mbako Property Fund
Vukile Property Fund announced this week that it is disposing of all its remaining non-retail property assets to Mbako Property Fund. Mbako is a new black-women-owned and managed unlisted property fund led by AWCA Investment Holdings (AIH) as its founding shareholder, which will be managed by a new joint venture between AIH and Vukile. RMB
November 29, 2019 in Investments -
UAE parent app QiDZ secures $1m in seed funding
Company says it will use the funds to enhance its product offering, grow its team and expand its footprint into other GCC markets QiDZ, a one-stop destination for kids-related fun, education and entertainment in the UAE, announced on Tuesday that it has raised $1 million in seed funding. The round was led by several regional
November 28, 2019 in Business News -
The IMF gets it wrong, again
Unwilling to be upstaged by Finance Minister Tito Mboweni, the International Monetary Fund (IMF) has proposed even harsher austerity measures than proposed in the country’s Mid-Term Budget Policy Statement. The IMF report concludes “with delays in structural reforms, growth and social conditions will worsen”. However, the very tried and tested reforms its report proposes, is
November 28, 2019 in Investments -
Abu Dhabi said to invest up to $1.5bn in Saudi Aramco IPO
Sources say the emirate is seeking to make the investment through one or more state-linked entities Abu Dhabi is planning to put as much as $1.5 billion into Saudi Aramco’s initial public offering, as the oil giant taps friendly neighbors to prop up a deal that’s so far failed to draw foreign investors, people with
November 28, 2019 in Business News -
Lebanon minister warns health sector at threat over dollar shortage
Jamal Jabak urges central bank to release US dollars over a hard currency shortage limiting medical imports to the protest-hit country Lebanon’s health minister Tuesday urged the central bank to release US dollars over a hard currency shortage limiting medical imports to the protest-hit country. “The sector is under serious threat,” caretaker minister Jamal Jabak,
November 27, 2019 in Business News -
AfDB loans $400m for Mozambique LNG project
The African Development Bank Group has approved a long-term senior loan of $400m for an integrated liquefied natural gas (LNG) plant, including a liquefaction facility in Mozambique. The Mozambique LNG Area 1 Project, ranked Africa’s single largest foreign direct investment to date, comprises a global team of energy developers and operators, led by Total alongside
November 27, 2019 in Investments -
Souq.com, Careem have given ‘false hope’ to entrepreneurs, says Prince Khaled
Founder and CEO of KBW Ventures says more must be done to help grow start-ups in the region Exits by Souq.com and Careem have given entrepreneurs in the region “false hope”, according to Prince Khaled bin Alwaleed bin Talal, founder and CEO of KBW Ventures. It is two years since Amazon paid $580 million for
November 26, 2019 in Business News -
Aspirations of sustainable investment don’t match reality
Mirroring a global trend, the proportion of South Africans who are actually investing sustainably is significantly lagging behind those who would like to invest sustainably, indicating that a gap exists between investors’ intentions and their tangible actions. Jessica Ground, head of sustainability at Schroders This was revealed in the recently released Schroders Global Investor Study
November 26, 2019 in Investments -
It’s time to negotiate a better future for African energy
For the better part of the last half century, oil and gas has been portrayed over and over again as the source of all evil across Africa, responsible for instability, power struggles, poverty, death, pollution and corruption. If this portrait really was the mirror of the truth, then African nations would be better off just
November 26, 2019 in Investments -
UAE royal calls for more maternity cover for women in the private sector
The emirate of Sharjah five years ago introduced 90 days maternity leave for female government workers A Sharjah royal has called for maternity cover for women working in the UAE private sector to be extended beyond the current 45 days paid leave, bringing it in line with the 90 days leave for female government employees
November 26, 2019 in Business News -
Income First: Adulting – FMI Insurance
Busy adulting? Put your Income First. When you last met Patrick, he was what life insurer FMI (a Division of Bidvest Life Limited), calls an ‘Early Earner’: 25, a recently qualified electrician, no dependants and a new set of wheels to his name. He’s matured somewhat since then. At 32, he’s taken the leap to
November 25, 2019 in Investments -
Could a fridge order your food for you? Visa delves into the future of online payments
Dubai has strong ambitions to be a major cashless society within the next few years and with it will bring new ways of shopping, transferring money and ordering goods. Marcello Baricordi, general manager for the Middle East and North Africa at global digital payments firm Visa, outlines how advances are rapidly taking place and the
November 25, 2019 in Business News -
FDI on the rise in Africa
While foreign direct investment (FDI) is falling in other global markets, it is on the rise in Africa, with approximately $46bn in FDI flowing into the continent in 2018 – an 11% increase compared to the previous year. Ross Jenvey “In terms of the number of closed deals and their value, Venture capital statistics for
November 25, 2019 in Venture Capital -
Treasury to cap S12J tax incentive
If National Treasury retains the changes on S12J investments, individuals and trusts will now only be allowed to invest R2.5m per annum and corporate investments will be capped at R5m per annum. The incentive allows South Africans to write off 100% of the investment against their taxable income. Dino Zuccollo, fund manager at Westbrooke Alternative
November 25, 2019 in Investments -
SA’s inner cities experiencing rebirth but challenges remain
Hosted annually by TUHF Limited, the Inner City Property Conference took place late last month at the Sunnyside Hotel in Parktown, Johannesburg. Outgoing mayor of Johannesburg Herman Mashaba was among a lineup of expert speakers in the property, urban planning and government sectors, assembled to tackle the question of how to unearth inner city potential
November 25, 2019 in Property & Real Estate -
Saudi Aramco IPO: Oil demand could peak in 20 years, says Saudi Aramco IPO prospectus
A second scenario in the Saudi Aramco prospectus assumes a faster transition away from fossil fuels that leads to peak oil demand occurring in the late 2020s Global oil demand may peak within the next 20 years, according to an assessment included in the prospectus for Saudi Aramco’s initial public offering, suggesting views are slowly
November 24, 2019 in Business News -
Salaries are not the main reason employees change jobs in the GCC
Employees are more influenced by other factors, according to a report by recruitment giant Hays Salaries are not the main reason employees in the Gulf region seek to change jobs, according to the Hays Employee Attrition in the GCC Report 2019. The research by the global recruiting group shows working professionals in the Gulf look
November 24, 2019 in Business News -
Etisalat appoints Obaid Humaid Al Tayer as new chairman
Al Tayer, the UAE’s Minister of State for Financial Affairs, will replace Essa Al Suwaidi who resigned for personal reasons Etisalat majority shareholder Emirates Investment Authority on Tuesday appointed Obaid Humaid Al Tayer as chairman of the telco giant. Al Tayer, who is also the UAE’s Minister of State for Financial Affairs, will replace Essa Al
November 23, 2019 in Business News -
Win gold bars with Dubai Tram as network celebrates fifth anniversary
Since its launch in 2014, the Dubai Tram has transported 28 million passengers around its terminals Dubai Tram passengers could win gold bars as well as other prizes as part of the network’s fifth anniversary celebrations, officials at the Roads and Transport Authority (RTA) said on Monday. The RTA did not specify how many gold
November 23, 2019 in Business News -
Income First: Early Earners – FMI Insurance
Pat’s ticked off the responsible stuff by insuring his car and covering his health with a basic medical aid plan. And because he’s still living at home, he can spend most of his salary enjoying life. At his father’s urging, Patrick has decided to speak to an independent financial adviser to look at his financial
November 22, 2019 in Investments -
Income first: Leading the change
Protect the moments that matter – FMI campaign reveals all. Life insurance is often seen as something your family cashes in on at the end of your life. At FMI, we are on a mission to bust this myth. We want South Africans to realise that the most important part of financial planning is in
November 22, 2019 in Investments -
Naguib Sawiris: ‘If God wanted women to be veiled, he would have created them with a veil’
Egyptian billionaire says the Arab world is ‘plagued’ by Islamic fundamentalists with close minded mentalities One of Egypt’s richest men Naguib Sawiris has argued against the hijab – the veil some Muslim women use to cover their hair in the presence of men who are outside their immediate family. Speaking to Arabian Business, the executive
November 22, 2019 in Business News -
Best in SA packaging shine at Gold Pack Awards 2019
The winners of this year’s IPSA Gold Pack Awards, the premier showcase for the South African packaging industry, was announced at Inanda Club in Sandton on 30 October. Dating back to 1973, the annual event celebrates local companies in the packaging industry that are driving innovation and professionalism. Big wins for Unilever. From left: Bill
November 22, 2019 in Manufacturing -
Can AfCFTA solve Africa’s energy challenge?
This serious shortage of electricity in most African countries creates a need for the introduction of power generation from alternative sources. This challenge is being tackled head on, with several high-value projects are underway across the continent. Rodwyn Peterson, head of litigation Chibesakunda & Co, DLA Piper Africa member firm in Zambia These include: The
November 22, 2019 in Investments -
No rate cut, but still a good time to buy
After a challenging year for the property market, the decision by the Reserve Bank’s Monetary Policy Committee to retain the repo rate unchanged at 6.5% and the mortgage rate at 10% is disappointing as we head into the festive season. Samuel Seeff, chairman of the Seeff Property Group The news that inflation had dipped to
November 22, 2019 in Property & Real Estate -
MPC decision on repo rate anticipated but disappointing
Against the backdrop of a persistently sluggish economy, subdued market confidence and lower-than-expected inflation, but with an eye on future inflationary impacts, global economic headwinds and the prospect of a Moody’s downgrade, the Monetary Policy Committee’s decision to hold the repo rate steady was anticipated by many commentators, albeit disappointing for many at this juncture
November 22, 2019 in Property & Real Estate -
Picket at Saldanha Steel over plant closure
About 50 people picketed outside the Saldanha Steel plant on Thursday, 21 November, to protest against the phased closing down of the plant by ArcelorMittal South Africa (AMSA). About 50 people picketed outside the Saldanha Steel plant on Thursday, 21 November, to protest against the phased closing down of the plant by ArcelorMittal South Africa.
November 22, 2019 in Manufacturing -
More UAE rain expected in the coming days
Rainfall will increase by 15-25 percent in the UAE according to a plan by the NCM UAE residents can expect more rainfall in the coming days, as the National Centre of Meteorology (NCM) continues its cloud seeding operations, with five having already taken place in the past 48 hours alone. In 2019 so far, the
November 21, 2019 in Business News -
Making property ownership more accessible to more people
The costs of buying a property in South Africa include transfer duty, attorney’s fees, and deeds office registry fees. As a rule of thumb, these costs amount to 8-10% on top of the purchase price of any property over R900,000. Given that buying property is likely the biggest financial investment that most people will ever
November 21, 2019 in Property & Real Estate -
In consulting on development risk, it’s nose in, fingers out
Nose in, fingers out! This is what I was taught on how best to approach the subject of risk detection in property development. As a company, we are very careful to not interfere with the work of the executives, whether on our staff or that of clients, but sometimes it’s hard when seeing the results
November 21, 2019 in Property & Real Estate -
Plans confirmed to launch Abu Dhabi oil futures exchange
Intercontinental Exchange says new exchange will host futures contracts based on ADNOC Murban crude oil next year Intercontinental Exchange, an operator of global exchanges and clearing houses and provider of data and listings services, on Monday announced that it will launch a new exchange in Abu Dhabi. ICE Futures Abu Dhabi (IFAD) will host the
November 21, 2019 in Business News -
UAE’s Azizi unveils new Dubai project for ‘younger generation’
Mirage in Dubai Studio City features 444 units comprising 253 studios, 155 one-bedroom and 366 two-bedroom apartments UAE-based Azizi Developments has announced the launch of Mirage, a new development designed with the young generation in mind in Dubai Studio City. Mirage features 444 units comprising 253 studios, 155 one-bedroom and 366 two-bedroom apartments, the developer
November 20, 2019 in Business News -
Revealed: how popular has Louvre Abu Dhabi been since opening
Louvre Abu Dhabi says it has attracted more than 2 million visitors since opening in November 2017 Louvre Abu Dhabi has attracted more than 2 million visitors as it celebrates its second-year anniversary this month. Since opening in 2017, Louvre Abu Dhabi’s appeal has been built on a rich cross-cultural collection, eight international exhibitions and
November 19, 2019 in Business News -
These are Shoprite’s standout suppliers for 2019
The Shoprite Group honoured its most innovative and reliable suppliers at its annual Supplier Awards this past weekend. Pieter Engelbrecht, CEO of Africa’s largest food retailer, said the integrity and efficiency of the Group’s supply chain is key to its success. Supplier of the Year 2019 winners The Group works with 19,398 suppliers across 15
November 19, 2019 in Manufacturing -
Emirates opens first check-in terminal for cruise tourists
Emirates check-in counters, located at Port Rashid, will allow cruise passengers to check in for their onward Emirates flight Emirates’ first remote check-in terminal, outside of the airport, has been opened to provide seamless connections for cruise passengers. The Emirates check-in counters, located at Port Rashid, will allow passengers who are disembarking from their cruise
November 19, 2019 in Business News -
Corobrik invests over R1bn in manufacturing plants
Corobrik’s investment into its SA manufacturing plants over the next two years is set to pass the R1bn mark as it readies its new R800m mega factory in Driefontein for full production and begins to build a second new plant in KwaZulu-Natal. Driefontein plant rendering Speaking at the second South African Investment Conference earlier this
November 19, 2019 in Manufacturing -
Why ‘buy and hold’ strategy works
The ‘buy and hold’ strategy of real estate investing is seen by many as the safest and most consistent method for inexperienced real estate investors to proceed. While typical investing involves a degree of risk when entering and exiting, the property market (due to its long-term nature) is a very effective vehicle at averaging out
November 19, 2019 in Property & Real Estate -
Smart cities embrace 4IR
Smart cities rely on smart grid technology that includes traditional and renewable energy sources in its mix of power supply. Driven by the advanced technology of the fourth industrial revolution (4IR), the smart grid technology is able to include coal-based energy and renewable energy sources to create a seamless analysis of power usage and problems.
November 19, 2019 in Energy -
Advertising firm wins $272m deal to ‘transform’ signage in Dubai
BackLite Media has secured a 12-year outdoor advertising contract with the Dubai Roads & Transport Authority BackLite Media, an out-of-home advertising company, has secured a AED1 billion ($272 million) contract with the Dubai Roads & Transport Authority (RTA) to transform signage in Dubai. The 12-year contract will see BackLite deliver a mix of digital and
November 18, 2019 in Business News -
New exception to the loop structure prohibition for private individuals
South Africa’s exchange control regulations generally prohibit South African residents from holding an interest in a foreign company which, in turn, holds any interests or assets in a Common Monetary Area (CMA) country (so-called “loop structures”). There is an exception to the loop structure prohibition which is generally referred to as the “FDI dispensation”. In
November 18, 2019 in Investments -
Fourways’ Riverside View ranks top with Gauteng first-time buyers
Riverside View, located in the Northern Suburbs of Johannesburg, is the suburb with the highest volume of first-time buyers in Gauteng, according to data recently released from Lightstone. Image source: Gallo/Getty The Riverside View Housing and Development Programme (RDP) began in 2016 and has offered first-time buyers the opportunity to enter the property market. These
November 18, 2019 in Property & Real Estate -
UAE’s Masdar invests in Indian clean tech major
Hero Future Energies announces strategic investment by Abu Dhabi Future Energy Company to fund the expansion of its renewable energy portfolio Indian clean tech firm Hero Future Energies (HFE) has announced a strategic investment by Abu Dhabi Future Energy Company, better known as Masdar, to fund the expansion of its renewable energy portfolio. It represents
November 17, 2019 in Business News -
UK economy avoids recession with 0.3% quarterly growth
Gross domestic product rebounded in the July-September period after a 0.2% contraction in the second quarter Britain’s Brexit-facing economy avoided entering recession in the third quarter with growth of 0.3 percent, official data showed on Monday. Gross domestic product rebounded in the July-September period after a 0.2-percent contraction in the second quarter, the Office for
November 17, 2019 in Business News -
Prices continue to fall in Dubai, underpinning deflation
Dubai’s selling prices dropped in October at the fastest pace since February 2016, according to IHS Markit report Dubai’s selling prices dropped last month at the fastest pace since February 2016, according to IHS Markit. Its Dubai Purchasing Managers’ Index rose for a third month to 54.6 in October, staying well above the threshold of
November 16, 2019 in Business News -
Workers strike at Kuwait airport for better working conditions
The right to strike is guaranteed for citizens in Kuwait, but such actions remain rare in the Gulf country Hundreds of workers at Kuwait’s international airport held a one-hour strike Monday to demand better working conditions, threatening to stage longer walkouts in the coming days. Ahmed Mohammed al-Kandari, a union representative, said workers were calling
November 16, 2019 in Business News -
Zain picks Ericsson to launch 5G network in Bahrain by end-2019
Zain says Ericsson’s 5G portfolio will enable it to expand coverage while simultaneously strengthening its current network Zain has selected Ericsson to build its 5G network in Bahrain, with the first commercial 5G services expected to go live before the end of 2019. Spanning Ericsson 5G Radio Access Network (RAN) and 5G Core products and
November 15, 2019 in Business News -
Stability is key for supermajor investment in Africa
Although it may appear that much of the exploration activity in Africa is driven by smaller independents, the supermajors still have a significant role to play. In recognition of the importance of the market these supermajors were all well represented by senior executives at this year’s Africa Oil Week (Africa-OilWeek.com). The key message they delivered
November 15, 2019 in Investments -
Saudi Arabia grants first permanent residencies to foreigners
Gulf kingdom has granted 73 foreigners ‘premium’ residency under a new programme to attract overseas investment Saudi Arabia has granted 73 foreigners “premium” residency under a new programme to attract overseas investment by enabling selected people to buy property and do business without a Saudi sponsor. The kingdom received thousands of applications after offering permanent
November 14, 2019 in Business News -
Team South Africa in Brazil for the 11th BRICS Summit
Team South Africa, led by His Excellency President Cyril Ramaphosa, will be heading to Brazil for the BRICS Summit this week. The BRICS summit is an international relations summit attended by the heads of state of the five member countries, driven by the mechanism to achieve peace, security, development and cooperation. It also seeks to
November 14, 2019 in Investments -
First-time property investor? Here’s what you need to know
As a result of uncertainty in the South African property market, opportunities for first-time investors are on the rise. But in the current economic climate, are new investors fully versed in the risks involved in property investment and how to navigate these? Grant Smee, founder of OUST South Africa First-time investors are particularly vulnerable. Tenants
November 14, 2019 in Property & Real Estate -
How booking a taxi in Dubai will change on December 7
Roads & Transport Authority says taxi booking and dispatch services will be moved to Hala, the joint venture between RTA and Careem Dubai’s Roads & Transport Authority (RTA) has announced that its taxi booking and dispatch services will be moved to Hala, the joint venture between RTA and Careem, as of December 7. The move
November 14, 2019 in Business News -
Saudi Aramco to offer $1bn in shares to staff
Oil giant aims to incentivize its 73,000 staff with the share scheme, according to its IPO prospectus Saudi Aramco is to offer $1 billion in shares to employees as part of its initial public offering (IPO) next month, according to the official prospectus. The move is part of a plan to help incentivize executives and
November 13, 2019 in Business News -
Investing in Africa: Five key sectors to consider
Still in its infancy stages of development, Africa has become a global platform for economic competition, catching the eye of multinational organisations looking to expand operations. It’s safe to say, Africa is fast-emerging as an investment destination of choice. Africa’s economy has traditionally been rooted in the primary sectors, given its favourable climate conditions and
November 13, 2019 in Investments -
SA REIT publishes latest edition of Best Practice Recommendations
Following its first edition published in 2016, the SA REIT (Real Estate Investment Trust) sector has published the second edition of its Best Practice Recommendations to enhance the transparency and comparability of financial reporting by SA REITs. Bram Goossens, chairman of the Accounting and JSE Committee of SA REIT A review of the first guide
November 13, 2019 in Property & Real Estate -
Naguib Sawiris: make me an offer I can’t refuse
Everybody wants a piece of the man who created a global telecoms giant, with a $2.9 billion personal fortune to show for it. But Naguib Sawiris explains why he would rather be home alone watching The Godfather If you want to make Naguib Sawiris an offer he can’t refuse, just invite him for a viewing
November 12, 2019 in Business News -
Navigating key challenges of doing business in Africa
Once seen as the ‘risky’ continent, despite being considered a viable investment destination for natural resources, Africa’s respectable growth rate and improvements within business environments has made the continent an attractive destination for foreign direct investment. Despite growing optimism, investors need to be wary of the challenges still present in Africa before jumping into the
November 12, 2019 in Investments -
Work to start on Saudi Arabia’s Diriyah Gate mega project in January
7 sq km project will be home to a diverse collection of museums and galleries in addition to a cultural and educational experiences The restoration and reimagining of Diriyah, a sweeping 18th century adobe city that once served as the capital and stronghold of the first Saudi state, will be officially inaugurated at a special
November 12, 2019 in Business News -
Grey market: Dubai dealers call for crackdown on cheaper cars entering the UAE
‘Parallel imports’ are when cheaper versions of car models are shipping into the UAE form neighbouring countries A leading automobile executive has called for a clampdown on unsold excess stock coming into the UAE form neighbouring countries and being sold on the grey market, it was reported. “Many of these cars brought in from neighbouring
November 11, 2019 in Business News -
Investment giant, Allan Gray dies
Allan Gray, founder of investment management company that bears his name, died in Bermuda on 10 November at age 81. Allan Gray Born in East London in 1938, Gray studied accountancy at Rhodes University in Grahamstown and became a chartered accountant while working for Deloitte in Cape Town and Johannesburg. He received an MBA from
November 11, 2019 in Investments -
Tax and forex in Africa: A property investor’s perspective
A combination of political volatility, regulatory uncertainty and economic stagnation has seen South Africa understandably falling out of favour with local and global property investors of late. However, much of the rest of Africa remains a relatively attractive investment proposition across a variety of sectors, including real estate. Gerhard Zeelie, head of property finance Africa:
November 11, 2019 in Property & Real Estate -
Dubai Financial Market profits rebound on stronger Q3 trading
Bourse chairman hails ‘considerably improved’ performance in Q3 to offset slow start to the year Dubai Financial Market Company has announced a net profit of AED95.5 million for the first nine months of 2019, a 8 percent decrease compared to the same period of 2018. Net profit of the third quarter increased 45 percent to
November 11, 2019 in Business News -
Tickets ‘selling out fast’ for Abu Dhabi F1 Grand Prix
Organisers of five-day racing festival say 17 ticket categories including Paddock Club and North Grandstand Premium now sold out Tickets for the Abu Dhabi Formula 1 Grand Prix are selling fast with 17 ticket categories including Paddock Club and North Grandstand Premium now sold out, it was announced on Thursday. Organisers have confirmed that tickets
November 10, 2019 in Business News -
Sheikh Ahmed to temporarily oversee Dubai Holding in shake-up
Sheikh Ahmed bin Saeed Al Maktoum will replace Abdulla Al Habbai in ‘fresh strategy to explore new expansion prospects’ Sheikh Mohammed bin Rashid Al Maktoum, Vice President and Prime Minister of the UAE and Ruler of Dubai on Thursday appointed Sheikh Ahmed bin Saeed Al Maktoum to temporarily oversee Dubai Holding, replacing Abdulla Al Habbai.
November 9, 2019 in Business News -
Saudi Aramco has more ‘longevity’ than peers in mid-decline oil market
Colin Croft, emerging markets fund manager at Jupiter Asset Management, said the company can best be compared to Russian-state owned oil companies Saudi Aramco’s IPO comes at a time of decline for the oil industry, although the company is likely to be more long-lived than many of its competitors, according to Colin Croft, emerging markets
November 9, 2019 in Business News -
Seera named first Saudi ticket reseller for Expo 2020 Dubai
Saudi Arabia is the second-largest tourism market for Dubai and has welcomed over 924,000 visitors this year from January to July Seera Group, the travel services company, has been appointed as Saudi Arabia’s first official ticket reseller for Expo 2020 Dubai, the global mega event that will be held from October 2020 for a six-month
November 8, 2019 in Business News -
Uber’s ex-CEO said to get $400m from Saudis for food start-up
Wall Street Journal says Travis Kalanick has received funding from Saudi Arabia’s Public Investment Fund Travis Kalanick’s secretive new food start-up has taken $400 million of funding from Saudi Arabia’s Public Investment Fund, the Wall Street Journal reported, citing people familiar with the matter it didn’t identify. The financing valued the ex-Uber Technologies chief executive
November 7, 2019 in Business News -
Whatsapp Calling in UAE: UAE could lift WhatsApp call ban, says top cybersecurity chief
Mohamed Al Kuwaiti revealed discussions have taken place with Facebook-owned WhatsApp The ban on WhatsApp calls in the UAE could soon be lifted, according to the executive director of the country’s National Electronic Security Authority, Mohamed Al Kuwaiti. Al Kuwaiti was speaking on American news channel CNBC and revealed that discussions had taken place with
November 7, 2019 in Business News -
Plastic Atlas highlights scale of global plastic pollution crisis
Plastic Atlas highlights the scale of the crisis and the global impacts of plastic production, consumption and disposal on other key global challenges such as human health and the climate crisis. It also outlines the role of plastic for key industrial sectors, such as agriculture and tourism, and describes the corporate interests and drivers behind
November 7, 2019 in Manufacturing -
Africa can be world’s next economic hub
With the right policies and linkages, Africa can become an indispensable global economic hub, Singapore’s Senior Minister Tharman Shanmugaratnam said at the Kofi A Annan Eminent Speakers’ Lecture series in Abidjan. Singapore’s Senior Miniter, Tharman Shanmugaratnam The minister outlined five strategies which must underpin the continent’s transformation drive and efforts to build inclusive growth. Africa
November 7, 2019 in Investments -
World Bank urges Lebanon to form gov’t, warns of recession
Warning comes as anti-government demonstrators pushed on with rallies and hundreds of school children boycotted classes The World Bank urged protest-hit Lebanon on Wednesday to form a new government quickly, warning of the threat of an economic downturn that would deepen poverty and worsen unemployment. The warning came as anti-government demonstrators pushed on with rallies
November 6, 2019 in Business News -
Ramaphosa calls for R1.2trn more investment
South Africa’s ambitious target to net R1.2trn in investment is not a gimmick but a concerted effort to attract investment, President Cyril Ramaphosa told delegates at the country’s second Investment Conference in Sandton. President Cyril Ramaphosa. Photo: SAnew.gov.za In the year since 31 local and international businesses announce investment projects worth R300bn at the inaugral
November 6, 2019 in Investments -
Berlin’s Circ inks e-scooter expansion deal with Masdar City
Masdar City adds to Circ’s growing portfolio of partner communities in the UAE capital since its regional launch in July Europe’s micro-mobility champion, Circ, has announced a new community partnership in Abu Dhabi with Masdar City, the world’s first low-carbon urban community, to provide e-scooters to its residents, tenants and visitors. Masdar City adds to
November 6, 2019 in Business News -
Dubai’s real estate market yet to see Expo 2020 boost, say experts
Industry heads have no doubt about the positive effects of Expo, but has it started already? Real estate experts in Dubai are split over whether the industry is already receiving a boost from the Expo-effect as the emirate gears up to host Expo 2020 Dubai. According to statistics released by Property Finder, there have been
November 5, 2019 in Business News -
Trade to take centre stage at Import Expo
Trade and global economic governance will be topics of discussion at the China International Import Expo (CIIE), which gets underway on Tuesday. Trade and Industry Deputy Minister Nomalungelo Gina is leading a South African business delegation to the expo that will take place in the Chinese city of Shanghai. A group of South African businesspeople
November 5, 2019 in Investments -
P&G SA invests in local Always manufacturing plant
Procter & Gamble is investing R300 million in South Africa’s manufacturing sector – delivering on a commitment it made at the South African Investment Conference last year. As part of the investment, P&G is embarking on local production of its Always brand of sanitary pads. Ribbon cutting to officially commission the new Always manufacturing facility
November 5, 2019 in Manufacturing -
Saudi Aramco IPO in Riyadh a ‘bridge’ to eventual international listing
Analysts also believe that the market may need to find a new ‘anchor dynamic’ in the wake of the Saudi Aramco IPO Saudi Aramco’s domestic IPO may still serve as a bridge towards an international listing despite the company saying that it has no plans to do so, according to Salah Shamma, the head of
November 4, 2019 in Business News -
Emerging markets show a quiet resilience
As the world watches the US-China trade spat roll on, it is important to look beyond the headlines and examine the economic reality and progress within emerging markets. Andrew Ness, ASIP, portfolio manager, Franklin Templeton emerging markets equity Maintaining perspective matters, particularly when we consider emerging markets. Despite ongoing US-China trade discussions, intra-emerging markets trade
November 4, 2019 in Investments -
Moody’s decision puts SA on notice
Moody’s decision to reduce the outlook for its credit rating of the South African government from ‘stable’ to ‘negative’ is not unexpected in the light of the country’s weak economy and deteriorating public finances. Professor Raymond Parsons Unless South Africa gets its economic house in order soon, it faces the possibility of an investment downgrade
November 4, 2019 in Investments -
Former Istithmar World CEO partners with Saudi perfume giant in bid for US retailer Barneys
Second Middle East investor also involved with sales hearing scheduled for Thursday Former chief executive of Dubai-based Istithmar World, David Jackson, has joined forces with Saudi Arabia’s Arabian Oud, the largest perfume retailer in the Middle East, to launch an 11th-hour bid to buy US luxury department store chain, Barneys, according to media reports. Istithmar
November 4, 2019 in Business News -
UAE is ‘studying’ possible aid to Lebanon after unrest
While the UAE central bank hasn’t agreed on specific details, it will ‘study and make recommendations in light of the recent developments’ in Lebanon The United Arab Emirates said it’s “studying” possible aid to Lebanon, raising the prospect of a lifeline to the beleaguered country as it tries to get public finances in order after
November 3, 2019 in Business News -
Over 5.2m passengers benefit from Emirates-Flydubai partnership so far
As partnership enters its third year, Emirates chairman Sheikh Ahmed says there is more still to come Over 5.27 million passengers have benefited from connectivity on the Emirates and Flydubai network since both Dubai-based airlines began their partnership in October 2017, it has been revealed. In addition, some 800,000 Emirates Skywards members have earned over
November 2, 2019 in Business News -
Boxing clever: how entrepreneur Oweis Zahran is nearly ready to retire at 29
If you think you have to wait until your 60s to retire, think again. Thanks to a thriving business in automobiles, a private crossfit gym for royals and a pending IPO on the New York Stock Exchange, it won’t be long before 29-year-old Oweis Zahran never has to work another day in his life At
November 2, 2019 in Business News -
‘If your profits have fallen by nearly 90%, it’s difficult to focus,’ says Alabbar over Damac claims
Emaar chairman Mohamed Alabbar laughs off Damac comments, saying he is focused on growth Emaar chairman Mohamed Alabbar has hit out over claims from rival developer Damac that the company continues to “dump” properties on the market – and that all new home construction in Dubai should be halted for two years. In a telephone
November 1, 2019 in Business News -
Cape Town Municipal Planning By-laws approved
The City of Cape Town’s Council approved amendments to the Municipal Planning By-law (MPBL) yesterday, 31 October 2019. Once promulgated, the amendments will, among others, allow for controlled densification, short-term letting from flats, and minor freestanding and minor rooftop cell masts, either as of right or as a consent use. The Municipal Planning By-law regulates
November 1, 2019 in Property & Real Estate -
Is property co-ownership the answer when times are tough?
Co-ownership is becoming increasingly common in South Africa as it is a great way for multiple people to invest in property, with the intention of “flipping it” or selling it on and sharing the profit, says Chelsea Viljoen of Just Property. Chelsea Viljoen of Just Property “Due to the economic climate, it can be challenging
November 1, 2019 in Property & Real Estate -
Saudi Arabia projects wider 2020 budget deficit
Budget deficit to widen to nearly $50bn, as kingdom forecasts shortfall for the seventh year in a row amid low oil prices Saudi Arabia said Thursday it expects its budget deficit to widen next year to 187 billion riyals ($49.86 billion), projecting a shortfall for the seventh year in a row amid low oil prices.
November 1, 2019 in Business News -
UAE announces return of troops from Yemen’s Aden
UAE forces were instrumental in operations that took Aden from the Houthis in July 2015 The General Command of the UAE Armed Forces has announced the return of its troops from Yemen’s Aden Governorate after successfully accomplishing their mission and transferring responsibilities to Saudi and Yemeni forces. In a statement, the General Command said that
October 31, 2019 in Business News -
No dividends for Damac shareholders as ‘weak market’ hits profits
Dubai developer Damac cites low profitability as it announces it will withhold dividends at the end of this year Dubai developer Damac Properties on Wednesday said it would not be distributing dividends to shareholders at the end of this year citing “low profitability and the weak market”. The developer made the announcement in a statement
October 30, 2019 in Business News -
Tough times – and bad advice
South African Finance Minister Tito Mboweni delivers the mid-term budget statement at parliament, Cape Town, South Africa, 24 October 2018. EPA/Nic Bothma These hard times have three main origins: the economic legacy of apartheid, the effects of the 2008 global financial crisis, and the massive damage done by inaction and state capture during President Jacob
October 30, 2019 in Investments -
These are the pros and cons of every Brexit option left on the table
Boris Johnson’s mantra, ever since becoming prime minister, has been to “get Brexit done”. Yet the most striking feature of Brexit has been the inability to deliver. Every course of action available to the UK and EU is problematic, hence why the solution to the Brexit dilemma continues to evade even the most determined of
October 30, 2019 in Investments -
Gulf wealth funds to consider investing in Saudi Aramco IPO
Sovereign wealth funds in Kuwait and Bahrain mull move to invest in Saudi energy giant Sovereign wealth funds in Kuwait and Bahrain said they will consider investing in the initial public offering of Saudi Aramco, while their counterpart in South Korea plans to wait for the inclusion of the oil giant in benchmark stock indexes.
October 30, 2019 in Business News -
Shine at the International Call Center Awards as part of Avaya Engage Dubai
Following a rigorous selection process, 9 winners across three category – Police, Government, Private sector – will be selected by an expert panel of specialist assessors Are you in charge of one of the best contact centers in the world? Earn the recognition you deserve at the upcoming Avaya Engage in Dubai. Avaya, in association
October 29, 2019 in Business News -
Exploring potential of graphene in F&B manufacturing
Tetra Pak has joined the European Commission Graphene Flagship project as the exclusive representative from the packaging industry to explore possible future applications of graphene in food and beverage manufacturing. Professor Konstantin Novoselov, physicist and Nobel Prize winner. Graphene is a carbon-based material, one of the thinnest known to humankind, one atom thick, while also
October 29, 2019 in Manufacturing -
South Africa has options
Years of fiscal consolidation – cutting expenditure and raising revenue mainly through tax increases, have failed to deliver the desired outcome. The main budget deficit is likely to exceed 6% of GDP in 2019/20 with the gross loan debt ratio increasing to more than 60% of GDP by the end of this fiscal year. Finance
October 29, 2019 in Investments -
Arabian Business awards 2019’s ‘Future Stars’ of tomorrow
In total, 11 up and coming stars of the future received awards at the gala event at Waldorf Astoria Dubai Palm’ Arabian Business Achievement Awards honoured its ‘Future Stars’ at the annual ceremony awards at the Waldorf Astoria Palm Jumeirah hotel on Monday – recognising a group young people who could be main trophy recipients in
October 28, 2019 in Business News -
Nigeria’s border closure has implications for Africa’s economic integration
The border closure has affected goods from other West African countries. Wikimedia Commons Border closures are not new in Africa. But Nigeria’s actions raise important concerns about the seriousness and prospects of regional integration in Africa. Nigeria acted just three months after it had signed the African Continental Free Trade Agreement. With 55 member countries,
October 28, 2019 in Investments -
UAE billionaire mulls IPO of pharmaceuticals business
Bavaguthu Raghuram Shetty says work on potential share sale is at an initial stage Abu Dhabi billionaire Bavaguthu Raghuram Shetty, the founder of two London-listed companies, is considering selling shares in his pharmaceuticals business. “It makes sense to take it down this path where an IPO as an option is a good thing,” said Binay
October 28, 2019 in Business News -
Closing the gender pay gap
When looking at financial institutions specifically, much can be done in terms of the gender pay gap, says Pavneet Bajwa, head of Human Resources, Standard Chartered Bank UAE Q: What do you think can be done about the gender pay gap in the UAE? When looking at financial institutions specifically, much can be done in
October 27, 2019 in Business News -
US Energy Secretary hails Dubai ruler as visionary after solar park visit
Rick Perry praises strategic vision of Sheikh Mohammed after visit to Mohammed bin Rashid Al Maktoum Solar Park Rick Perry, US Secretary of Energy, has praised the strategic vision of Sheikh Mohammed bin Rashid Al Maktoum, Vice President and Prime Minister of the UAE and Ruler of Dubai. He made the comments during a visit
October 27, 2019 in Business News -
How Dubai property price declines have slowed in Q3
New JLL research says Dubai’s residential real estate market is showing signs of stability during third quarter Dubai’s residential real estate market is showing signs of stability with price declines slowing during the third quarter of 2019, according to JLL. JLL’s latest UAE Market report revealed marginal declines of just 1 percent in both apartment
October 26, 2019 in Business News -
Lebanon protesters reject concessions, block key roads
Demonstrators, who have thronged towns and cities across Lebanon prompting the closure of banks and schools, have been demanding the removal of the entire political class Anti-corruption protesters cut off major roads in Lebanon for a ninth day Friday, pledging to keep paralysing the country despite an offer by the president to meet their representatives.
October 25, 2019 in Business News -
Polystyrene Association’s new FCRI encourages sustainable use of polystyrene
The Polystyrene Association of SA’s newly-launched Food Compliance Responsibility Initiative (FCRI) is intended to encourage the sustainable use of polystyrene. As such, Polystyrene Association members – who manufacture packaging used in food contact applications – have been urged to sign a voluntary commitment to adhere to international health and safety standards. Ensuring a sustainable future
October 25, 2019 in Manufacturing -
There’s a lot to like in the SA markets
There is, in fact, “a lot to like” about the country’s trajectory and current asset prices, despite the South African investment community’s overly negative sentiment about the local market, said Daniel Needham, president and chief investment officer for Morningstar’s Investment Management Group. Daniel Needham, president and chief investment officer for Morningstar’s Investment Management Group South
October 25, 2019 in Investments -
Amazon shares fall as quarterly profit slips
US e-commerce giant sees net income slide to $2.1bn from $2.9bn in the same period last year Amazon on Thursday reported that quarterly profits shy of Wall Street forecasts, sending shares of the tech giant tumbling in after-market trades. Net income slid 27 percent from last year to $2.1 billion, with profits pressured by Amazon’s
October 25, 2019 in Business News -
Lebanese president says willing to meet protesters
Lebanese President Michel Aoun broke his silence after a week of unprecedented protests Thursday, expressing willingness to meet demonstrators. “I am ready to meet your representatives… to hear your demands,” he said in a short televised speech, his first since daily street protests began on October 17. The speech was met with derision at demonstrations
October 24, 2019 in Business News -
Fairvest to list on A2X
Fairvest Property Holdings, on Thursday, 31 October 2019, will become the fourth property company to list on A2X Markets. With a market cap of R2bn, the Fairvest property portfolio consists of 42 properties diversified across the main provinces of South Africa with in-excess of 243,000m2 of gross lettable area. Its focus is predominately on the
October 24, 2019 in Investments -
Watch: The final trailer for ‘Star Wars: The Rise of Skywalker’ ahead of UAE release
Star Wars: The Rise of Skywalker will be released in cinemas across the Middle East on December 19 Lucasfilm and director JJ Abrams join forces once again to take viewers on an epic journey to a galaxy far, far away with Star Wars: The Rise of Skywalker, the riveting conclusion of the seminal Skywalker saga,
October 23, 2019 in Business News -
South Africa still the leader in financial markets development
South Africa has for the third year running claimed top position among 20 African countries ranked by the Absa Africa Financial Markets Index in terms of financial markets development. This is mainly because of its sizeable lead in market depth and deep market liquidity supported by strong domestic investors. George Asante, The head of global
October 23, 2019 in Investments -
More bad news for British economy and UK assets
The British economy faces another agonising delay and UK financial assets will be further squeezed following the government losing another crucial Brexit vote in parliament. Nigel Green, CEO of the deVere Group Prime Minister Boris Johnson confirms the Brexit Withdrawal Agreement Bill “will now be paused” after MPs voted against the accelerated timetable for the
October 23, 2019 in Investments -
‘Matter of time’ before Middle East’s next Careem or Souq-type mega-deals
Funding for start-ups in the MENA region has grown 66%, with 238 deals in H1 2019 amounting to $471m in total investment It is only a matter of time before the Middle East sees another ‘mega-deal’ like Uber’s $3.1 billion purchase of Careem or Amazon’s purchase of Souq.com, according to experts. In an interview with
October 23, 2019 in Business News -
$1.9m art collection once owned by ex-Abraaj head to be auctioned
Christie’s to sell 19 works which were once part of collection owned by Arif Naqvi Art works once owned by the former head of the now-defunct Abraaj Group are to go under the hammer at Christie’s on Wednesday. The auctioneer has not named the owner of 19 works in its forthcoming sale of Middle Eastern,
October 22, 2019 in Business News -
Life beyond the JSE for small cap companies
Apparently as many as 35 companies have terminated their listings on the Johannesburg Stock Exchange (JSE) from January 2018 to August this year, with 10% of small capitalised (small cap) companies placed under cautionary notice or in the process of discussing buyouts or share buybacks. With disappointing share price performances on the JSE that do
October 22, 2019 in Investments -
An overview of what is happening on the African continent
It has become a relatively well-worn fact that over the past two decades the African economy has grown faster than the world economy by some 2% per annum. This translates into impressive headlines. Along with fast economic growth, Africa is undergoing impressive urban growth. By 2030, it is expected that six of the world’s 41
October 22, 2019 in Investments -
US defence secretary in Saudi Arabia on unannounced visit
Mark Esper arrives in Saudi Arabia, days after the Pentagon said it was bolstering its forces in the kingdom US Secretary of Defence Mark Esper arrived Monday in Saudi Arabia, state television said, days after the Pentagon said it was bolstering its forces in the kingdom amid tensions with Iran. Al-Ekhbariyah television gave no details
October 22, 2019 in Business News -
More Indian oil companies said to attract international interest
The Narenedra Modi-led Indian cabinet has already given the go ahead to privatise state-owned Bharat Petroleum Corp (BPCL) India is expected to see entry of several international oil majors in the short-to-medium term, with more state-owned and private sector companies are said to be drawing up plans to divest stakes in their refinery & petrochemical
October 21, 2019 in Business News -
Global housing markets experiencing moderate growth
The South African property market is not the only one that has experienced a slow period of growth, according to regional director and CEO of RE/MAX of Southern Africa, Adrian Goslett. Property markets around the globe have also either recently emerged from a trying market or are starting to see signs of trouble on the
October 21, 2019 in Property & Real Estate -
Ramaphosa opens South Africa’s first smartphone factory
President Cyril Ramaphosa opened South Africa’s first smartphone factory at the Dube TradePort in Durban on Thursday. The launch of the Mara Phones plant comes 12 months after Mara Group company chief executive Ashish Thakkar announced at the inaugural Africa Investment Forum in November last year that the company would invest R1.5 billion in a
October 21, 2019 in Manufacturing -
Dubai Police adds female snipers to its force
Dubai Police has added female snipers to its force following their successful completion of a specialised course. The emirate’s policing authority said the female officers “demonstrated outstanding tactical skills” in the force’s sniper course. The course featured several aspects including archery principles, safety precautions, and mathematical equations for shooting, as well as dealing with humidity,
October 20, 2019 in Business News -
British MPs force Johnson to seek new Brexit delay
MPs declined to give their backing to the divorce agreement Johnson struck with the EU this week until accompanying legislation has been passed British MPs voted Saturday to force Prime Minister Boris Johnson to ask the European Union to delay Brexit yet again but he insisted Britain must leave on October 31. In a day
October 20, 2019 in Business News -
Ivory Coast seeks $500m from tourism drive in Dubai
Ivory Coast tourism officials are heading to Dubai as they aim to double the number of visitors by 2025 Ivory Coast tourism officials are heading to Dubai this weekend where they plan to raise as much as $500 million to develop the West African country’s sector and double the number of visitors by 2025. The
October 19, 2019 in Business News -
Waiting times, wi-fi, baggage: priorities of air passengers revealed
International Air Transport Association announces the results of its 2019 Global Passenger Survey Biometric identification to cut waiting lists, access to Wi-Fi at 34,000 ft and maximum times for baggage collection are among the top priorities for air passengers, according to a new survey. The International Air Transport Association (IATA) announced the results of its
October 18, 2019 in Business News -
what’s in it and how is it different to Theresa May’s version?
British Prime Minister Boris Johnson Negotiations in Brussels have produced legal texts on arrangements for Northern Ireland and on the political declaration, which outlines the broad outline of what the two sides want from their future relationship. These are the product of months of planning by the British government, so it’s reasonable to ask what
October 18, 2019 in Investments -
Saudi Arabia, Palestinians agree on joint business council
Move comes as the Palestinian Authority faces a financing gap that could top $1.8bn Saudi Arabia and the Palestinians agreed on Thursday to establish a joint economic committee and a business council, as the Palestinian Authority faces a financing gap that could top $1.8 billion. Palestinian president Mahmud Abbas’s PA has been in deep financial
October 18, 2019 in Business News -
Emaar reveals hospitality offers ahead of Expo 2020 Dubai countdown
Emaar Hospitality Group to offer discounts, freebies as Dubai is set to celebrate 12-month countdown to Expo 2020 Emaar Hospitality Group has announced a number of offers and discounts in support of Expo 2020 Dubai’s One Year To Go milestone. On October 20, Expo 2020 Dubai will stage seven interconnected events across each emirate of
October 17, 2019 in Business News -
Agreement lessens chances of hard Brexit
The Brexit agreement reached today is a major step towards avoiding widespread disruption if the UK ‘crashed out’ of the EU on October 31 without a deal. Image source: Getty/Gallo The fact that the UK and the EU after complex negotiations have reached an agreement on will be generally welcomed in view of the wider
October 17, 2019 in Investments -
Wind power is far more than just energy
Energy security remains a challenge in the continent, with the average electrification rate in Africa at only about 43%. Wind power therefore could be a game changer. The Southern African Development Community (SADC) alone has the potential to build 18GW of wind by 2030, the Global Wind Energy Council (GWEC) estimates. This is a third
October 17, 2019 in Energy -
Pakistan says talks with Riyadh, Tehran ‘encouraging’
PM Imran Khan travels to Iran and Saudi Arabia as a ‘facilitator’ between the arch-rivals, following a series of attacks on oil infrastructure Pakistan’s foreign minister said Tuesday that Prime Minister Imran Khan’s talks with Tehran and Riyadh had been “encouraging” after visits to try to defuse rising tensions in the Gulf. Khan travelled to
October 16, 2019 in Business News -
The small matter of investment costs
Every investment carries costs. For many financial services providers, higher fees are explained as a trade-off for a higher quality of brand and service. But, compared with other products where the rule of thumb is that you get what you pay for, higher costs do not always translate to better performance. Terence Gregory, CEO, Ecsponent
October 16, 2019 in Investments -
South Africa moves up one spot in 2019 Brand Finance Nation Brands ranking
South Africa has recorded a 5%, or $218bn, growth in brand value – going up on spot in the 2019 Brand Finance Nation Brands ranking. Image credit: Jason Leung on Unsplash. The latest Brand Finance Nation Brands report found that the South African economy managed to defy the odds – facing increased political and economic
October 16, 2019 in Investments -
Huawei reports increased nine-month revenue despite US campaign
Huawei has been under immense pressure this year as Washington lobbied allies worldwide to avoid the company’s telecom gear over security concerns Chinese tech giant Huawei said on Wednesday that its revenue for the first nine months of the year grew 24.4 percent year-on-year despite a US campaign to isolate the company globally. Huawei’s revenues
October 16, 2019 in Business News -
Let the sunshine in – why solar power is essential
Whether building an affordable home or a luxury condo, energy saving construction techniques are invaluable, as building an energy efficient house will not only cut costs in the end, but is environmentally responsible and aesthetically pleasing. {When it comes to building an energy efficient house, the first consideration is the best way to achieve cooling
October 16, 2019 in Energy -
Believe it or not, the economy is not the biggest of our concerns in South Africa
South Africa has a fractured past, that we cannot deny, and divisions have always been an everyday part of life here. But these days, our differences are threatening to tear us apart. Athol Williams If once our divisions were founded on ideology (and expressed materially), today, I would argue, divisions in our country are founded
October 15, 2019 in Investments -
Get more bang for your buck by investing in Africa
Africa is ready for the great leap frog of attracting investment, displaying its innovative talent and capability and catapulting itself to greater heights of human development. On the sidelines of the FT Africa Summit, President Cyril Ramaphosa met former Prime Minister of Great Britain, Tony Blair at the Claridge’s in London. These were the words
October 15, 2019 in Investments -
Redefine COO David Rice set to retire in 2020
Redefine Properties has announced that its chief operating officer, David Rice, will retire on 31 August 2020, after more than a decade of service. Rice joined Redefine in 2009, becoming its COO in 2011. Redefine COO David Rice set to retire in 2020 His current responsibilities include all aspects of asset management and general administration
October 15, 2019 in Property & Real Estate -
Second Brazil-Argentina clash heading to Saudi Arabia
The newly-crowned Copa America winners beat their fierce rivals 1-0 in Jeddah last year Brazil will take on Argentina in a friendly in Saudi Arabia for the second time in a year next month, the Brazilian Football Confederation (CBF) announced on Monday. The match will be held at the King Saud university stadium in Riyadh
October 15, 2019 in Business News -
Equator’s sustainable approach to fashion supply in SA
From vegan leather to green building, KZN-based design house and manufacturer, Equator – The Belt Factory, is on a journey to drive social and ecological sustainability behind the scenes of South Africa’s fashion supply industry. Born from humble beginnings in 2001, Equator now operates from a new facility in New Germany in Durban with over
October 14, 2019 in Manufacturing -
Saudi Aramco to announce IPO ‘very soon’, says chairman
Yasir al-Rumayyan tells forum that long-awaited IPO will take place ‘sooner than you think’ Saudi Arabia’s energy giant Aramco will announce its long-awaited stock market debut “very, very soon,” its chairman said on Monday. Aramco has said it plans to float around five percent of the state-owned company in 2020 or 2021 in what could
October 14, 2019 in Business News -
SA Inc. Turning off the wait-and-see mentality
The exodus of foreign capital started as a trickle in 2016 and has become an unequivocal deluge. When it comes to the reasons why foreign capital inflows into SA have all but dried up in recent years, everyone has a theory. Shabbir Norath is head: advisory of corporate finance at Nedbank CIB Most, of course,
October 14, 2019 in Investments -
House prices show moderate growth
According to results from the RE/MAX National Housing Report for Q3 2019, the lull in the South African property market may soon be over. “The first sign of recovery is increased activity within the market. Fewer transfers would mean lower demand and lower house price growth. Luckily, according to Lightstone Property data, a total of
October 14, 2019 in Property & Real Estate -
Abu Dhabi postpones collection of road toll charges until January 1 2020
Abu Dhabi’s Department of Transport also announced caps for regular users and revealed those exempt from road tolls Abu Dhabi’s Department of Transport has announced that charges for its new road toll will be suspended until January 1 2020, with a trial period to operate from October 15 until that date. The transport authority, announcing
October 13, 2019 in Business News -
Saudi Aramco showcases oil-attack recovery though damage remains
Workers at the state-run oil giant worked 24 hours a day to restore output after the attacks on Khurais and the Abqaiq processing plant disabled 5% of global supply Saudi Aramco showed it has made significant progress in restoring damaged oil infrastructure to normal operation just a month after a devastating aerial attack halted production.
October 13, 2019 in Business News -
Actis acquires management rights to two Abraaj funds
Private equity firm Actis has acquired the rights to manage two private equity funds previously managed by Abraaj, the firm announced on Monday. In a statement, Actis said it will take over the management rights to Abraaj Private Equity Fund IV and Abraaj Africa fund III. The transaction, which includes investments in 14 portfolio companies,
October 12, 2019 in Business News -
Saudi Arabia to announce $2bn Russian investment deals
Agreements will be signed with Russian Direct Investment Fund when President Vladimir Putin visits the kingdom next week Saudi Arabia will agree to invest about $2 billion in Russia in deals with the Russian Direct Investment Fund when President Vladimir Putin makes his first visit to the desert kingdom since 2007 next week, according to
October 11, 2019 in Business News -
First ‘I AM Tech – Africa Forum and Exhibition’ to lead the way into a 3D future
The technology-driven Fourth Industrial Revolution (4IR) is changing the way the world lives, works and functions and 3D printing is a disruptive technology that will soon have a major impact on all business. The inaugural Innovative Additive Manufacturing Technology – Africa Forum & Exhibition, to be held at the Industrial Development Corporation (IDC) in Sandton
October 11, 2019 in Manufacturing -
Iranian tanker hit by suspected missile strike near Jeddah
An Iranian oil tanker was damaged Friday near the Saudi port of Jeddah after being hit by suspected missiles, Iranian state media said, raising the prospect of military escalation in the Middle East. Oil prices jumped. The explosions on the tanker, operated by the National Iranian Oil Company, occurred between 5am and 5.20am local time
October 11, 2019 in Business News -
PayGate partners with Retail Capital to offer merchants short-term working capital
South African payment service provider, PayGate has teamed up with Retail Capital to launch Easy Advance, a short-term finance product that allows merchants to cash in on the approaching Black Friday and festive season sales opportunities. Brendon Williamson (PayGate) and Karl Westvig (Retail Capital). Easy Advance is pre-qualified funding that leverages a merchant’s existing transactional
October 11, 2019 in Venture Capital -
Women founders are magnets for company investment, say UAE experts
Industry experts in the UAE have strongly backed a report that found that start-ups with female founders raised 21 percent more in venture capital (VC) funding than companies with all-male teams. According to the recent study released by the US-based Kauffman Fellows Research Center, companies with at least one female founder get $23 million on
October 10, 2019 in Business News -
SA investor behaviour could erode savings as geo-political tensions mount
While the ebbs and flows of markets are always going to keep investors on their toes, it appears South African investors may be too quick to chop and change their portfolios during times of heightened economic uncertainty and market volatility. And as growing geo-political tensions show that volatility isn’t going anywhere quickly, knee-jerk reactions are
October 10, 2019 in Investments -
Real estate ends 2019 on stable footing
The South African economy has experienced promising, positive movement in the second half of 2019 following a slowdown in markets over the past year. The encouraging market sentiment also bodes well for the country to avoid a possible debt rating downgrade when Moody’s reviews the economy in November. Mike Greeff, CEO, Greeff Christie’s International Real
October 10, 2019 in Property & Real Estate -
sbe continues international expansion with first SLS Property in Dubai, SLS Dubai Hotel & Residences
sbe, a leading international hospitality group that develops, manages and operates award-winning global hospitality brands, today announced a partnership with World of Wonders Real Estate Development to continue the expansion of the SLS brand with the first SLS property in the Middle East, SLS Dubai Hotel & Residences. The property is already more than 73%
October 10, 2019 in Business News -
Opinion: Oil market moves on from Saudi Aramco attacks
Oil markets have more than reversed the gains they made following the Abqaiq and Khurais attacks, as the initial concerns about the impact on supply gave way to reassurance that it won’t be interrupted as much as first feared. With contracts now around 3 percent below their pre-Aramco attack levels, it is the poor outlook
October 9, 2019 in Business News -
Breakout industry event for premium property investors
Private Property is proud to present the breakout real estate industry event of the year, the Real Estate Industry Summit, in October 2019. In today’s complex and fast-moving world, what real estate industry players need even more than foresight or hindsight is insight. South Africa’s only multi-faceted property platform, Private Property, is proud to present the
October 9, 2019 in Investments -
HouseAfrica is changing the housing market in Africa
HouseAfrica is a Nigerian-based startup on a mission to make real estate investment accessible to everyone, irrespective of income level, through technology. Una Nnamdi Chukwuebuka, CEO, and Ndifreke Ikokpu Udo, COO of HouseAfrica. We chat to Uba Nnamdi Chukwuebuka, CEO of HouseAfrica, to find out about the blockchain-based platform… Can you tell us a bit
October 9, 2019 in Property & Real Estate -
#Windaba2019: IRP will bring certainty
There will be certainty about the country’s energy mix after the long-awaited Integrated Resource Plan (IRP) is presented to cabinet next week, Minerals and Energy Minister Gwede Mantashe promised at the Windaba 2019 conference in Cape Town. Gwede Mantashe He said that the emphasis was on the different power technologies complementing each other and not
October 9, 2019 in Energy -
UAE ministry waives fines for thousands of firms, workers
The UAE’s Ministry of Human Resources and Emiratisation announced it is cancelling fines issued for violations for over 27,000 companies and 12,000 workers in the country. The ministry said the waiving of fines relates to all those issued before August 1 this year. It said the decision was taken in keeping with the UAE’s Year
October 8, 2019 in Business News -
Regus brings the Flexible Working Revolution to Britam Towers, Nairobi
Businesses in Nairobi eagerly await the arrival of the tenth Regus business centre, in Britam Towers – making this its 10th location in Nairobi – in November 2019. Bestowed Africa’s first Emporis Skyscraper Award, it is also the tallest building in East and Central Africa. As the commercial nerve centre for Kenya, boasting strong trade
October 8, 2019 in Property & Real Estate -
Why the Western Cape is experiencing a semigration slow-down
While Cape Town’s property prices, bolstered by better governance, a safer environment and a better quality of life, continue to outstrip other cities, experts are now reporting a slow down in semigration figures to the city and its immediate surrounds. Has affordability finally tipped the scales out of the Cape’s favour, or are there other
October 8, 2019 in Property & Real Estate -
Zain KSA deploys the Middle East’s largest 5G network
Zain Saudi Arabia deployed the region’s largest 5G network to date with 2,000 towers covering an area of more than 20 cities in the kingdom. Zain Group said the towers form the first phase of its rollout in Saudi Arabia, which will be followed by a gradual expansion of the network to cover a total of 26
October 8, 2019 in Business News -
Bulgaria’s Prime Minister in the UAE on two-day visit
Bulgaria’s Prime Minister Boyko Borissov arrived in the UAE on Saturday for a two-day working visit, according to the Council of Ministers’ press service. The PM was greeted in Abu Dhabi by Minister of State for Defence Affairs Mohammed bin Ahmad Al Bawardi, who is also a member of the board of directors of Mubadala
October 7, 2019 in Business News -
Gitex 2019: Dubai’s RTA unveils ‘virtual’ Nol card
Dubai’s Roads and Transport Authority (RTA) has unveiled its ‘virtual’ Nol card, which allows users to load a Nol card on to a mobile phone and use it to access transport services in the emirate. The virtual Nol card can be used to pay for public transport fares, as well as other payments such as parking
October 6, 2019 in Business News -
Dubai real estate ‘fairly priced’ says UBS global survey
Property in Dubai is ‘fairly priced’, according to the latest UBS Global Real Estate Bubble Index, The annual study by UBS Global Wealth Management indicates bubble risk or a significant overvaluation of housing markets in half of all evaluated cities. However, although Dubai’s housing market remains oversupplied, despite prices having fallen by over a third
October 6, 2019 in Business News -
UAE-based Finablr, Samsung launch mobile money transfers
UAE-based financial services firm Finablr and Samsung Electronics America have launched a new money transfer feature in Samsung Pay, the companies have announced. The new on-app money transfer service – the first of its kind in the US – offers users cross-border payments to 47 countries with a variety of pay-out methods within Samsung’s native
October 5, 2019 in Business News -
Emirati astronaut Hazzaa Al Mansoori lands back on Earth
A three-man crew including an Emirati who became the first Arab to reach the International Space Station returned to Earth safely on Thursday and were in good shape, the Russian space agency Roscosmos said. Hazzaa al Mansoori of the United Arab Emirates touched down in the Kazakh steppes at 1059 GMT along with NASA astronaut
October 5, 2019 in Business News -
The Northern Irish veto that could torpedo Boris Johnson’s Brexit plan
The UK’s bid to break the Brexit logjam risks failing over plans to give Northern Ireland an “effective veto,” according to an Irish senator. In proposals sketched out by UK Prime Minister Boris Johnson, Northern Ireland could keep the same rules as the European Union for all goods after Brexit. In theory, this would help
October 4, 2019 in Business News -
Where technology meets real people
Given the ever-changing nature of the workforce, retirement fund consultants must find innovative ways to offer members suitable advice to help them reach their retirement objectives. This advice must be adaptable to the needs of the evolving behaviours, trends and decision-making habits of the various generations that make up the current workforce. Blessing Utete, executive
October 4, 2019 in Investments -
Govt talks to coal and renewables about lowering prices
South Africa’s limping economy is likely to be further crippled unless the price of electricity is brought down. Eskom’, which provides about 95% of South Africa’s power, saw energy costs increase by 17% in its most recent financial year, due to higher coal charges and increased production from independent power producers. Minerals and Energy Minister,
October 4, 2019 in Energy -
Why Dubai will overtake New York when it comes to branded residences
Dubai is set to become the global branded residences capital by the end of 2019, said a recent report. The number of branded schemes worldwide has grown by 195 percent in the last decade and there are more than 430 branded schemes globally, said the ‘Branded Residences Report’ from property company Savills. At a city
October 3, 2019 in Business News -
Put a $4.9m diamond ring on it: Sharjah showcases Lotus Temple-inspired jewel
If you’ve got a few minutes to spare, or $4.9 million to spend, head to the Watch and Jewellery Middle East Show today to admire the a two-tone 18K white and rose gold ring inspired by the iconic Lotus Temple in Delhi. Boasting a staggering 7,777 pieces of round and brilliant-cut natural diamonds, the piece
October 3, 2019 in Business News -
Massmart procures R1bn in goods through supplier development programme
The Massmart group has procured R1 billion worth of products from the small, local manufacturers on its Supplier Development Programme. This is in addition to the R3 billion that Massmart procures per annum from small businesses that are not on the programme. The programme was established in 2012 following an intervention from the Minister of
October 2, 2019 in Manufacturing -
Southern Africa Europe CEO Dialogue, the continent’s major investment platform
Johannesburg will host the pre-eminent platform for investment between some of Southern Africa and Europe’s leading blue chip companies and business leaders in Sandton on 29 and 30 October. The European Union (EU) is by a long way the major trade exporter to Southern Africa and the sixth edition of the Southern Africa Europe CEO
October 2, 2019 in Investments -
Geopolitics negatively impacting consumer sentiment, says Majid Al Futtaim CEO
Geopolitical factors in the region have had a detrimental impact on consumer confidence in the Middle East, according to Alain Bejjani, CEO of Majid Al Futtaim Holding. “Consumer confidence has been impacted negatively in the past three to four years and I think currently the regional instability, the volatility globally, the trade wars and so
October 2, 2019 in Business News -
New legislation to impact property and entertainment industries
President Ramaphosa has signed various Bills into law that will enable property deeds to be processed electronically; enhance the ease of business in the real estate industry and brings online games, films and publications into the ambit of the Film and Publication Board. The President has signed the Overvaal Resorts Limited Repeal Bill of 2019;
October 2, 2019 in Property & Real Estate -
3 clothing brands on an ethical production journey
While sustainability may be just a buzzword to some fashion companies, others ensure that every aspect of their business is sustainable – from the materials used to produce garments to ensuring that their staff is treated fairly. “Ethical fashion brands are not just trendy, they contribute to a healthier environment for all of us,” said
October 2, 2019 in Manufacturing -
Know your business inside out with a Biz Office
New expectations of transparency and authenticity in business means things like organisational purpose, brand stories, how your company does things, what it believes in and what it stands for, can all play a part in how your company sees itself and how it is seen by others. Being open, authentic and transparent about the organisation
October 2, 2019 in Energy -
US Central Command chief met Saudi navy’s head on Iran tension
Vice Admiral Jim Malloy and Vice Admiral Fahad al Ghofaily discussed strengthening the kingdom’s maritime defences against ‘Iranian aggression’ “Engaging and operating closely with regional counterparts is essential to maintain deterrence,” said Vice Admiral Jim Malloy. The head of the US Naval Forces Central Command met with the chief of Saudi Arabia’s navy to discuss
October 1, 2019 in Business News -
Frameworks to investor interest in Africa’s renewable energy
With a population of more than one-billion people and a collective economy of around $1.5trn, Africa is a continent ripe for economic growth. Developing the capacity to satisfy its people’s energy demands is key to unlocking that potential. Image source: Getty/Gallo We already know that sustainability is a critical component of any real, meaningful development.
October 1, 2019 in Investments -
Presale guarantees could help embattled property developers
As the property market continues to languish in an extended stretch of doldrums, some astute developers are making use of presale guarantees from finance specialists. While many are not aware of it, this solution could make a significant difference to developers who are hoping to keep units moving and deals flowing. Wilhelm Jonker, business developer,
October 1, 2019 in Property & Real Estate -
Ackermans deal with Universal Footwear creates over 400 jobs
Ackermans has partnered with footwear importer and distributor, Universal Footwear, to locally design, source and produce its leather sandals. The deal creates much-needed jobs in South Africa’s struggling clothing and textile industry. According to Ackermans, the retail sector, with its footprint in both urban and rural areas, has the potential to create more sustainable jobs,
October 1, 2019 in Manufacturing -
Saudi Arabia Tourist E-Visa: Countries List, Cost and How to Apply Online: How to apply for a Saudi tourist visa
Saudi Arabia began offering tourist visas for the first time on Friday, offering e-visas and visas on arrival to citizens of 49 countries. To apply for an e-visa, one must register at www.VisitSaudi.com and fill out an online application. Requires documents include a passport with a validity of more than 6 months from the time
October 1, 2019 in Business News -
Food delivery will stabilise 40% of F&B – Sunset Hospitality CEO
Increasingly growing food delivery businesses will stabilise 40 percent of Dubai’s F&B industry, according to the CEO of Dubai-based Sunset Hospitality, which operates brands such as Black Tap, Azure and Drift beach clubs. Speaking to Arabian Business, Antonio Gonzalez said the rise of food delivery businesses has not affected his brands but will pose a
September 30, 2019 in Business News -
How to whet the appetite of food investors
The global food and beverage business is brimming with innovation. Competition is stiff between FMCG giants and startups racing to get their latest product onto retail shelves and into the hands of consumers. Credit: Getty It’s comforting to know that the level of ingenuity displayed in South Africa’s food space doesn’t lag behind global counterparts.
September 30, 2019 in Venture Capital -
How IMF programmes can increase corruption
Dilok Klaisataporn/Shutterstock.com Why is corruption so difficult to control? Scholars have long blamed factors intrinsic to corrupt countries. For example, countries with a wealth of natural resources – like diamonds and oil – are corrupt because political leaders are unaccountable to their citizens. They can rely on natural resource income, rather than taxation, to finance
September 30, 2019 in Investments -
FMI’s ‘Income First’ approach is challenging the life insurance sector
Life insurer FMI (a division of Bidvest Life) is on a mission to change industry behaviour by shifting current industry norms from the traditional ‘lump sum’ approach, to one that champions income benefits first. With multiple advantages for both advisers and customers, it should be an easy choice for advisers to make. “As an adviser,
September 30, 2019 in Investments -
Outgoing JSE CEO’s tech and CSR insights for the future
The opening keynote of the final day of the Gartner Symposium 2019 kicked off with a conversation with Nicky Newton-King, retiring from her role as CEO of the JSE, today, 30 September. She spoke of the role of tech in business and society and the aspects of leadership and transformation that have been part of
September 30, 2019 in Investments -
Property outlook positive despite static interest rates
The recent decision from the South African Reserve Bank to leave interest rates unchanged was met with disappointment from several sectors. However, the property market outlook remains positive leading up to the summer season, despite the lack of direct financial relief for bondholders. Image source: Gallo/Getty While high CPI and hopefully temporary fuel price increases
September 30, 2019 in Property & Real Estate -
Two killed in Dubai gas explosion
Two people were killed and another two injured following an explosion inside a building in Dubai’s Al Mankhool area, according to local media reports. Sources quoted by Gulf News said the deadly incident was caused by a cooking gas explosion. The two deaths were confirmed on Sunday. The newspaper added that one of the dead
September 30, 2019 in Business News -
Commemorative stamps to be released to celebrate first Emirati space mission
Emirates Post, in cooperation with Mohammed bin Rashid Space Centre, will issue a series of special stamps to celebrate the UAE Astronaut Programme on Wednesday Comprising six designs, the special-edition stamps feature images of UAE astronauts Hazza Al Mansoori and Sultan Al Neyadi, the Soyuz MS spacecraft, the International Space Station, as well as the
September 29, 2019 in Business News -
Dubai sees instant impact of new real estate committee as deals soar 134%
Dubai Land Department (DLD) on Tuesday announced a 134 percent increase in real estate transactions following the creation of the new Higher Committee of Real Estate on September 2. Established by Sheikh Mohammad bin Rashid Al Maktoum, Vice President of the UAE and Ruler of Dubai, the committee is chaired by Sheikh Maktoum Mohammed bin
September 28, 2019 in Business News -
Pound bounces as UK parliament suspension ruled illegal
Sterling won a boost Tuesday from Britain’s Supreme Court ruling “unlawful” the suspension of parliament, providing a spark of hope that Brexit will be more orderly than previously feared. The pound rallied against both the dollar and the euro as traders mulled the chance that Britain could now more easily avoid a no-deal departure from
September 28, 2019 in Business News -
Saudi Arabia to waive expat fees for industrial firms
Saudi Arabia will waive the controversial fees it requires industrial companies to pay for their foreign workers for a period of five years, lightening a burden on the private sector. Since January 2018, businesses have been required to pay fees for foreign workers they employ, part of the government’s strategy to raise non-oil revenue and
September 27, 2019 in Business News -
Where are we with land reform?
Agricultural economist, Wandile Sihlobo says that come April 2020, the proposed change to the Constitution to allow land expropriation without compensation (EWC) may not happen. Wandile Sihlobo “My sense is that it won’t be a given that the Constitution will change. We don’t want a Zimbabwe or Venezuela, the realities are starting to kick in.
September 27, 2019 in Investments -
Why the Bank of England will struggle to stop the economic fallout of a hard Brexit
Monetary trouble ahead. Shutterstock But the Bank of England may defy market watchers and other financial institutions, raising interest rates in the event of a no-deal Brexit. And that could add to the economic catastrophe of the UK crashing out of the European Union. This would be disastrous and compound the negative impact on the
September 27, 2019 in Investments -
UAE entities plan $7bn food security investment in India
Major UAE entities are expected to invest up to $7 billion in India’s food sector in the next three years as part of the UAE-India food corridor project. The companies, coordinated by Dubai-based Emaar Group, plan to invest up to $5 billion in mega food parks in various Indian cities and up to $2 billion
September 26, 2019 in Business News -
Top ratings for Biz Rate Card 2019
Bizcommunity is excited to announce the relaunch of our Biz Product and Rate Card, featuring all-new product infographics and descriptors, as well as a product portfolio that is easier than ever to access and engage with! Contact us to position your company or organisation at the centre of your industry now! Meeting the needs of
September 26, 2019 in Property & Real Estate -
Bahrain said to tap international bond market a year after $10bn bailout
Bahrain is tapping the international bond market about a year after it secured a bailout package from its wealthier neighbours. The island kingdom won’t raise more than $2 billion from the sale of dollar-denominated debt, which includes Sharia-compliant securities due 2027 and a conventional bond due 2031, according to a person familiar with the matter,
September 26, 2019 in Business News -
Dubai’s $680m deep tunnel project to be ready for Expo 2020
Tunnel project, which will drain rainwater in the Airport City and Expo 2020 areas, is now 65% complete The project has so far seen a total of four million man hours, using two giant drilling machines, which are the largest in the Middle East region. Dubai’s Deep Tunnel Project which will drain rainwater in the
September 25, 2019 in Business News -
Report explores African investment options
African investment has traditionally been dominated by its big economies but the long-awaited emergence of intercontinental trade blocs is shifting the balance of power. The fourth edition of the Africa Risk-Reward Index explores the huge potential significance of introduction of the African Continental Free Trade Area (AfCFTA) in late May, while raising some concerns about
September 25, 2019 in Investments -
New CCID report notes sustained investor confidence in CT CBD
New property developments in the Cape Town central city worth in excess of R950m have been reported this year in spite of a tight economy and huge economic pressure. This is the key finding since the release in July of the latest edition of The State of Cape Town Central City Report 2018 – A
September 25, 2019 in Property & Real Estate -
Kering to go carbon-neutral across entire group
This means that in addition to Gucci, Kering’s other brands – including Saint Laurent, Bottega Veneta, Balenciaga, Brioni, and Alexander McQueen, as well as a handful of other names in fashion, leather goods, jewellery and watchmaking – are all set to become carbon-neutral. Kering will offset the Group’s annual Greenhouse Gas (GHG) emissions from 2018
September 25, 2019 in Manufacturing -
Huawei remains strong in Middle East despite US restrictions
Huawei’s business in the Middle East remains strong, despite US efforts to curtail its growth in the region, through trade restrictions and lobbying of governments. Huawei, the world’s biggest supplier of telecommunications networking equipment and number-two smartphone manufacturer, has emerged as a central figure in the worsening China-US trade rivalry. The US government claims Huawei
September 25, 2019 in Business News -
Emirates’ Porto route sees strong summer traffic
Emirates’ new route to Portugal’s second largest city, Porto, has seen a strong influx of traffic, according to Thierry Aucoc, Senior Vice President Commercial Operations Europe and Russian Federation at Emirates. The airline launched a four times weekly service between Porto and Dubai in July, marking Emirates’ second destination in Portugal after its capital, Lisbon,
September 24, 2019 in Business News -
Iran’s Ayatollah Khamanei approved attack on Saudi Arabia – report
Iran’s supreme leader Ayatollah Ali Khamenei approved last weekend’s attack on Saudi Arabia’s oil infrastructure, CBS News reported Wednesday, citing an unnamed US official. The report came after US Secretary of State Mike Pompeo, flying to the kingdom, called Saturday’s strikes which knocked out half of Saudi crude output an “act of war.” CBS, without
September 23, 2019 in Business News -
Kuwait puts military on state of alert amid regional tensions
Kuwait’s army said Wednesday it was raising its readiness levels and carrying out military exercises, amid soaring regional tensions after neighbouring Iran was accused of attacking Saudi oil infrastructure. Kuwait also said it was investigating accounts that a drone intruded into its airspace and flew over the royal palace on Saturday, the same day an
September 23, 2019 in Business News -
Saudi Arabia must forgo enrichment to secure nuclear tech-sharing deal, says US Energy Secretary
Saudi Arabia will be required to forgo enriching or reprocessing spent uranium if it wants to secure a nuclear-technology-sharing deal with the US, Energy Secretary Rick Perry said in a letter to the kingdom that addresses bi-partisan non-proliferation concerns about the proposal. The US has been in negotiations with the Saudis for an agreement that
September 22, 2019 in Business News -
Actress Amber Heard joins fight to free Russian woman jailed in Kuwait
Hollywood actress Amber Heard, who is also an official United Nations Human Rights Champion, has become the latest high profile name to join the campaign to free a Russian businesswoman who was jailed in Kuwait on embezzlement charges. The 33 year-old American actress will appear at a high-level panel discussion in New York on September
September 21, 2019 in Business News -
Lebanon’s Saad Hariri suspends TV channel
Lebanese Prime Minister Saad Hariri announced on Wednesday the suspension of Future TV, his ailing mouthpiece whose employees had recently been on strike over unpaid wages. The channel set up by his father Rafiq al-Hariri in 1993 follows several other once-thriving Lebanon-based media outlets into bankruptcy. “It is with a sad heart that I announce today the decision
September 21, 2019 in Business News -
ABTV Crossfire debate: Is influencer marketing worth the investment?
A first-of-its-kind in the UAE, Crossfire explores a range of contrasting views on some of the region’s key issues, tapping into some of the everyday conversations generating heated debate across the region’s offices and social platforms A weekly show from ABTV, the online television arm of Arabian Business, the format features two speakers with opposing
September 20, 2019 in Business News -
SA real estate still feeling economic pressure
The impact of the current economic challenges in the real estate sector is becoming more apparent with rental growth in office and industrial sectors slowing in all the major cities according to the latest Q2 city snapshots released by JLL for Johannesburg, Cape Town and Durban. “In Johannesburg, Cape Town and Durban we have seen
September 20, 2019 in Property & Real Estate -
DStv partnership in Mozambique brings solar power to rural areas
Fenix Mozambique inaugurates Nampula branch in collaboration with FUNAE and DStv. Fenix has rapidly grown operations as a subsidiary of ENGIE, enabling the company to scale off-grid energy and financial services across new markets. ENGIE Fenix Moçambique Lda. inaugurated their Nampula branch this week in collaboration with the rural electrification body FUNAE and market-leading satellite
September 20, 2019 in Energy -
UAE Central Bank lowers interest rates by 25 basis points
The Central Bank of the UAE (CBUAE) announced it will lower interest rates applied to the issuance of its certificates of deposits by 25 basis points effective today, Thursday September 19, in line with the drop in interest rates on the US Dollar. The move comes following the Federal Reserve Board’s decision to decrease the
September 19, 2019 in Business News -
Why landlords need to focus on tenant retention
The current economic situation being experienced in South Africa is putting pressure on commercial and retail property owners, who are seeing a decline in commercial property values. Statistics show that rentals are down and vacancies are up, which has major implications for rental growth, the main driver of optimistic valuations of commercial property. Certain retail
September 19, 2019 in Property & Real Estate -
What can green infrastructure do?
If we were to envision our cities as circular cities, how would they look? Green. And why? Because achieving a circular economy means using nature as a template. With the help of green infrastructure, we can take nature as the example and transform our cities into circular cities. Green infrastructure is a planned network of
September 19, 2019 in Energy -
Dubai Police continue search for parents of boy abandoned in mall
Dubai Police are still trying to locate the parents of a five-year-old boy who was found wandering Reef Mall alone 10 days ago, reported Gulf News. Sources told the newspaper that the boy, who was abandoned by his mother, was abandoned again by a woman who was looking after him in Sharjah. He was found
September 19, 2019 in Business News -
Wall Street is ignoring the omens of recession – here’s why
Why is this man smiling? AP Photo/Richard Drew That’s a question my MBA students have been asking me lately. Even the Federal Reserve is concerned – at least worried enough to reduce US borrowing costs for the second time this year. Stocks are usually considered a barometer of a company’s future prospects, so rationally you’d
September 19, 2019 in Investments -
Where to invest in Africa
Rand Merchant Bank’s ninth edition of Where to Invest in Africa is returning to its roots – the sectors that are key to unlocking the continent’s growth potential. Image source: Getty/Gallo The Top 10 This year, Guinea, Mozambique and Djibouti recorded the strongest gains in the rankings, with notable advancements in their operating environments. The
September 19, 2019 in Investments -
Saudi raps oil producers over flouting of output cuts
OPEC kingpin Saudi Arabia urged oil producers on Thursday to comply with output cuts decided last year in a bid to stabilise a slumping oil market and support prices. “Every country should live up to its commitments,” new Saudi Energy Minister Prince Abdulaziz bin Salman said as a committee of producers charged with monitoring the
September 18, 2019 in Business News -
Cape Town’s southern suburbs are hot property
The southern suburbs of Cape Town have become increasingly popular, with value for money properties, access to good schooling, and decentralised office nodes making it a highly sought-after address. Claremont, Kenilworth, Rondebosch, Constantia, Newlands and Bishopscourt are great suburbs to live in – offering beautiful, safe surroundings and well-built homes. In addition to this there
September 18, 2019 in Property & Real Estate -
Saudi oil attacks and the effect on SA’s economy
The bulk of SA’s oil imports have come from Saudi Arabia (42%), Nigeria (34%), Angola (13%) and Ghana during the first quarter of 2019. During its peak, SA imported as much as 35% of its oil from Iran, but after pressure emanating from the United States many years back, SA cut back significantly on its
September 18, 2019 in Investments -
US briefly overtakes Saudi Arabia as world’s biggest oil exporter
The US briefly became the world’s No. 1 oil exporter as record shale production found its way to global customers, and there are prospects for more. Surging output from shale helped America ship almost 9 million barrels a day of crude and oil products in June, surpassing Saudi Arabia, the International Energy Agency said in
September 18, 2019 in Business News -
What SA’s super-wealthy are doing with their money
Many high net worth South Africans are looking to move 50% or more of their investable assets offshore, given the country’s protracted political and economic uncertainty. Image source: Getty/Gallo Some have lost faith in SA Inc, are concerned about the devaluation of the rand and have found themselves over exposed to listed equities. Many wealthy
September 17, 2019 in Investments -
Saudi Arabia’s female workforce grows by 282% in a year
The number of women working in the public and private sectors in Saudi Arabia increased by 282.5 percent by the end of the first quarter this year. According to statistics published by Al-Eqtisadiah the number of women working in the kingdom reached 596,700, up from 156,000 in the corresponding period in 2018. The overall number
September 17, 2019 in Business News -
Brexit – a guide to the latest developments
Charles Brasted</span>As the United Kingdom’s constitution continues to be tested, the Brexit fundamentals remain unchanged. Read more… | Send to a friend Source link
September 17, 2019 in Investments -
Arada starts handover of phase 2 of Sharjah residential project
Developer Arada has announced the start of the handover process for homes in phase 2 of its Sharjah community, Nasma Residences. The first set of the 184 villas and townhouses in this phase was completed last week, with the developer now in the process of handing over units to their new owners. Sheikh Sultan bin
September 16, 2019 in Business News -
Structured investments that reconcile the bulls and bears
President Donald Trump’s regular Twitter outbursts imposing or threatening to impose new tariffs on Chinese goods, have reminded investors of just how vulnerable emerging markets are to what happens between the US and China. Image source: Getty/Gallo South African investors are acutely aware of this and threats closer to home – notably the fiscal and
September 16, 2019 in Investments -
Why mixed-use is the key to funding African hotel development
A new report from JLL, an international professional services firm specialising in real estate, has revealed that people seeking to finance new hotel projects in Africa will be much more successful if their hotel is part of a mixed-use development. JLL’s research into global property transactions reveals that in the first half of 2019, there
September 16, 2019 in Property & Real Estate -
Saudi defence JV inks $990m deal with Spanish shipbuilder
SAMI Navantia Naval Industries, a joint venture between Saudi Arabian Military Industries (SAMI) and Spanish shipbuilder Navantia, has signed a SR3.7 billion ($990 million) contract as part of plans to localise military spending in the Gulf kingdom. The deal has been agreed to collaborate on combat system integration (CSI) on the Avante 2200 corvettes for
September 16, 2019 in Business News -
Grayling Dubai CEO acquires business to create new PR firm
A new independent PR firm has been created in Dubai after the Grayling Dubai has been sold to the CEO of the company’s Middle East and Africa operations by parent company Huntsworth. Loretta Ahmed confirmed to PRWeek Middle East that the business, which first opened in the region more than 30 years ago, will “retain
September 15, 2019 in Business News -
Saudi Aramco may shun direct IPO sales to US funds on legal risk
Saudi Aramco is considering a structure for its initial public offering that would prevent it from marketing the deal directly to fund managers in the US, people with knowledge of the matter said. The state-owned oil giant wants to avoid litigation risks that could result from selling the deal to US-based institutions, according to the
September 14, 2019 in Business News -
Citigroup says confident over Middle East revenue growth
Citigroup expects revenue from its Middle East and Africa business to keep growing this year even as lower oil prices and political uncertainty weighs on the region. “We typically do much better than the economic growth rate, given our business model,” Atiq Rehman, chief executive officer of Citigroup’s new EMEA emerging markets cluster, said in
September 14, 2019 in Business News -
How the next generation of aircraft will track your bathroom visits
Attention airline bathroom loiterers: The next generation of Airbus aircraft will track how long you’ve been in there. It’s all part of an effort to make commercial cabins a digitally aware domain. The programme is Airbus’s bid to raise the Internet of Things – that buzz-phrase for connected household gadgets – to cruising altitude. The
September 13, 2019 in Business News -
Sacum signs Brexit trade deal with UK
South Africa, together with other Southern African Customs Union (Sacu) member countries and Mozambique, has concluded a new trade agreement that will govern bilateral trade with the United Kingdom. Trade minister, Ebrahim Patel “The new agreement will govern the bilateral trading relationship between each of what we call Sacum countries [South Africa, Namibia, Botswana, Lesotho
September 13, 2019 in Investments -
ECDC explores trade opportunities in Nigeria and China
The Eastern Cape Development Corporation (ECDC) recently concluded a two-week long trade promotion tour of Nigeria and China aimed at improving trade between the Eastern Cape and these two fast-growing economies. Eastern Cape and Western Cape companies with ECDC business advisors. In the last week of August, ECDC together with its Western Cape trade and
September 13, 2019 in Investments -
Controversial KZN drilling project gets go-ahead
Marches, protests and objections to plans to drill for gas and oil along the KwaZulu-Natal coastline over the past few years have come to naught. The Department of Mineral Resources has given the go-ahead for Italian group Eni to conduct drilling off the coast of KwaZulu-Natal. Photo: Eni (fair use) The Department of Mineral Resources
September 13, 2019 in Investments -
Revealed: how much trust do customers have in UAE banks?
Trust levels in the UAE’s banking sector have risen over the past year, according to an annual survey carried out by the UAE Banks Federation (UBF). Its 2018 Trust Index Survey revealed that 74 percent of respondents had high trust in the UAE banking sector, up from 68 percent in 2017. The survey, conducted in
September 13, 2019 in Business News -
Decrease in residential selling times encouraging
Signs of an emerging turnaround in residential property activity are continuing, as the housing market in South Africa demonstrates ongoing resilience despite the challenges of a muted economy and socio-political impacts. This is according to Dr Andrew Golding, chief executive of the Pam Golding Property group, who says that promising signs include a decline in
September 12, 2019 in Property & Real Estate -
Are SA investors being unrealistic?
Expectation is said to be the root of all disappointment. This seems to be the case for South African investors lately, who are looking for future earnings that are significantly higher than the majority of their global counterparts. Image source: Getty/Gallo This is despite the fact that most local respondents failed to achieve their investment
September 12, 2019 in Investments -
UAE-based cryptocurrency platform Hayvn launches $5m fundraise
UAE-based digital currencies platform is Hayvn is raising up to $5 million to fuel its next stage of development, the firm has announced. The company seeks to offer a regulated service to clients globally. In 2018, Hayvn held a successful seed capital raise which closed just a month after launch and raised over $600,000 from
September 12, 2019 in Business News -
Dubai Metro 10 years on: 1.5bn passengers marks a decade of success
A total of 1.5 billion people rode Dubai’s metro between the day it opened on September 9, 2009 and the end of August this year, according to Mattar Al Tayer, the director-general and chairman of the board of executive directors of Dubai’s Roads and Transport Authority (RTA). In comments marking the 10th anniversary of Dubai’s
September 11, 2019 in Business News -
4 ways urban lifestyle trends are changing the property landscape
There’s a lot of talk about future cities, many of them being the sprawling metropolises of the world. The new world order for professionals, executives, and indeed millennial behaviour is to catch a taxi to work if needed, then to walk from work to gym, move on to coffee with friends – and cycle, walk
September 11, 2019 in Property & Real Estate -
Perdekraal East Wind Farm erects first turbine using local team
Perdekraal East Wind Farm’s first wind turbine has been erected, using a dominantly South African team. “We are very proud that both specialist crane operators are South Africans, an indication that our industry is maturing and that skills are being effectively transferred. The first 100% local South African turbine lifting team featured during the latter
September 11, 2019 in Energy -
Khabib Nurmagomedov’s Abu Dhabi win underlines Russian fighters’ growing hold on UFC
The tone for Saturday night’s fight was set early on. “Devushka (girl), come try papakha,” yelled a street vendor selling Khabib Nurmagomedov’s signature accessory: Caucasian sheepskin hats. As we marched alongside thousands of Russian-speaking fans towards the 10,000 seat Yas Island arena for the much-awaited UFC242 in Abu Dhabi, we were met with a sea
September 11, 2019 in Business News -
how Nigeria got hit with a $9.6bn judgement debt in London
Oil and gas is the lifeblood of Nigeria’s economy. Wikimedia Commons The big question is: What went wrong? How did Nigeria end up in this costly situation? For the answer, we must look back to January 2010 and a gas supply contract that went horribly wrong. The background story On 11 January 2010, Process and
September 11, 2019 in Investments -
20 Saudi start-ups graduate from the Inventions Transfer Accelerator programme
King Abdulaziz City for Science and Technology (KACST), represented by the Badir Program for Technology Incubators and Accelerators, has organised a graduation ceremony in Riyadh to celebrate 20 technological innovations produced by the second inventions transfer accelerator for 2019. The accelerator aims to activate patents across a variety of services aimed at speed up the
September 10, 2019 in Business News -
Man charged with US shooting of UAE student to face grand jury
A Pike County grand jury will determine if the man arrested for the murder of a UAE student in the US state of Alabama in July will be indicted on capital murder and robbery charges, according to local daily Dothan Eagle. Leon Terrell Flowers, 23, was charged with shooting dead a Brundidge store clerk, 30-year-old
September 9, 2019 in Business News -
Africa’s CEOs still looking for growth amid uncertainties
African business leaders are less optimistic about the strength of the global economy and their organisations’ ability to grow revenues in both the short and medium term than they were a year ago. A quarter of African CEOs (25%) believe that the global economy will decline over the next 12 months. Dion Shango, CEO, PwC
September 9, 2019 in Investments -
Help Thursdays Lingerie support bigger boobs
Cape Town-based company Thursdays Lingerie and Swimwear has launched a crowdfunding campaign to assist the label to extend its size range to a G cup. Thursdays founder Shona Macdonald has spent five years on market research and product development, pulling together a team of lingerie experts which impressed the judges on Shark Tank SA. The
September 9, 2019 in Manufacturing -
Now is the time to leverage your equity to build a property portfolio
Having weathered nearly two full years of slow growth, it’s understandable that investors may be wary of expanding their property portfolios at present. When examined as part of the typical 10-year property cycle, however, current market conditions may not be as dire as they appear. In fact, experts say now could be the ideal time
September 9, 2019 in Property & Real Estate -
Dubai Police honour Starbucks employee for returning bag with cash, cheques
Filipina employee returned bag containing AED195,000 cash and two cheques worth over AED500,000 On behalf of the force, Colonel Rashid Mohammed Saleh Al-Shehhi, Acting Director of Bur Dubai Police Station in Dubai, honoured the Filipina worker at her workplace, among all colleagues, and praised her positive response. The Dubai Police recently honoured Starbucks employee
September 9, 2019 in Business News -
Van Dyck Floors expands footprint in Zimbabwe
South African carpet manufacturer, Van Dyck Floors, has extended its global footprint with the launch of an operation in Zimbabwe. With its head office in based in KwaZulu-Natal, Van Dyck Floors is owned by PFE International, the holding company of the Zarrebini family. Pictured at the official opening are from left: Scott Smith (operations director,
September 9, 2019 in Manufacturing -
Dubai Police issue public appeal in search for five-year-old’s parents
Detectives at Al Muraqqabat Police Station said the boy was found lost at Al Reef Mall, Dubai Any information to help reuniting the child (pictured) with his relatives can be forwarded to Al Muraqqabat Police Station. Dubai Police have issued a public appeal to reunite a five-year-old child with his parents. The boy was
September 8, 2019 in Business News -
Why Saudi Arabia is likely to lead GCC construction recovery
Activity in the construction sector across the Gulf region will begin to recover steadily from the beginning of 2020, after a challenging period of subdued performance, according to project management consultancy Linesight. Long-term positive factors such as economic diversification, social reform, especially in Saudi Arabia, and general demographic demand, combined with renewed government ambition, will
September 8, 2019 in Business News -
UAE’s Al Hilal Bank hires new CEO to lead digital transformation
Al Hilal Bank’s board of directors has appointed Abdul Shakeel Aidaroos as the lender’s new CEO. He replaces Amr Al Menhali, who has been announced as the incoming CEO of Waha Capital, a statement said. Al Hilal Bank, which was acquired by the ADCB Group following the merger between Abu Dhabi Commercial Bank (ADCB) and
September 7, 2019 in Business News -
Abu Dhabi Toll Registration, Abu Dhabi Toll Gates: Pay AED100 to register your vehicle for new Abu Dhabi tolls
Motorists will have to pay AED100 ($27) to register their vehicle for the new Abu Dhabi toll system which is set to launch on October 15. The Department of Transport – Abu Dhabi (DoT) and the Integrated Transport Centre (ITC) said the toll gate systems will be installed on Sheikh Zayed Bridge, Sheikh Khalifa bin
September 6, 2019 in Business News -
Global investment in renewables to hit $2.6trn
Global investment in new renewable energy capacity this decade – 2010 to 2019 inclusive – is on course to hit $2.6trn, with more gigawatts of solar power capacity installed than any other generation technology. Image source: Getty/Gallo According to the Global Trends in Renewable Energy Investment 2019 report, this investment is set to have roughly
September 6, 2019 in Energy -
South Africa’s new economic proposals highlight the role of services
South African companies have strengths on which to build on, particularly in telecoms Shutterstock A novel feature is the attention given to the role of service industries in bolstering the economy. This emphasis on service (or tertiary) sectors is partly justified by their strong growth of over 6% per annum since 2009. This is much
September 6, 2019 in Investments -
Upcoming SAIBPP Convention to focus on property finance, SMME funding, enterprise development
The South African Institute of Black Property Practitioners (SAIBPP) will host its 2019 convention at the Durban ICC, 11-13 September, under the theme of ‘Funding the future’. The convention will showcase South Africa’s landscape with regard to accessing funding to participate in the property sector, highlighting property finance and small, medium and micro enterprise (SMME)
September 6, 2019 in Property & Real Estate -
I’ll be back: Expo 2020 Dubai bus tours prove a big hit
The World’s Greatest Show in the Making bus tour, which gave visitors a sneak preview of the Expo 2020 Dubai venue, has lifted more than 3,000 people in six weeks. And 97.7 percent of those who had an up-close look at the site which is set to welcome the world for a 173 days from
September 6, 2019 in Business News -
Stirling Hospitality Advisors: Providing hospitality sector-focused asset management and services
As experts in the field of hospitality, Stirling Hospitality Advisors advises clients with a local insight based on a global context. Based in the UAE, the team understands the characteristics of the Middle East. The company is ideally positioned to serve international clients, with an expert team skilled in delivering innovative advisory services and asset
September 5, 2019 in Business News -
Unpacking the key factors that contribute to the value of real estate
Real estate has long been touted as a good investment on the basis of property having excellent value, but in order to capitalise in a dynamic marketplace, one has to understand the meaning of value in this context and the key factors which contribute to this value, says Steve Thomas, secure estate specialist for Lew
September 5, 2019 in Property & Real Estate -
The African free trade zone can’t ignore continent’s security issues
Millions of people have been displaced from countries like Mali. Can a free trade zone create more security? NICOLAS REMENE/EPA-EFE Entering the African free trade zone requires nations to relinquish an important part of their sovereignty at a time when widespread violence is posing unprecedented challenges to state sovereignty. States are facing opposition from rebel
September 5, 2019 in Investments -
Dubai forms committee to balance property supply, demand
Dubai’s ruler announced Monday the creation of a panel to address a glut in the property market, a key part of the economy but in decline for the past five years. The committee charged with rebalancing the industry will be headed by Sheikh Mohammed bin Rashid Al-Maktoum’s son and deputy, Maktoum bin Mohammed, and include
September 4, 2019 in Business News -
Seeking sanity in an upside-down world
We find ourselves in an environment in which there is more to be worried about than usual, including an escalation of the China-US trade war, fallout from a “no-deal” Brexit, and erratic or aggressive Fed policy decisions. Adrian Saville Then, for good measure, we can add a dose of yield curve inversion in the US,
September 4, 2019 in Investments -
How to achieve exponential innovation in the Middle East
Everyone’s talking about it. You’re constantly surrounded by it, and sometimes you’re even worried by it – innovation. In the corporate world, innovation has become one of the most used words of the decade. Sit in any boardroom and you’re likely to hear this term being used, and if you’re in the technology space you
September 4, 2019 in Business News -
Location, location, location has never been more important than now
As the age-old adage advises, location, location and location are the three most important aspects when it comes to property. However, in a buoyant property market it’s easy to forget that this is the most important component, as even badly located properties are in demand in the good times. When times turn tough, it is
September 4, 2019 in Property & Real Estate -
Steely Vision: How Ahmed Abou Hashim forged a new destiny
A proud Egyptian, a determined social activist, and a champion for sustainable thinking might seem like surprising qualities for a titan of the steel industry, but Ahmed Abou Hashima encompasses all these and more with barely a shrug. Definitions, challenges and even having odds stacked against him are but a trifle in the vision of
September 3, 2019 in Business News -
Keep calm and invest in South Africa
High unemployment, pedestrian growth, bailouts of state-owned enterprises (SOEs) and the slow implementation of President Cyril Ramaphosa’s ‘New Dawn’ do not paint a very cheery picture. That said, it would be naïve to think that any person could wipe out the devastation of the last 10 years in one fell swoop. Jeff Miller It’s clear
September 3, 2019 in Investments -
TAG Heuer partners with Porsche Formula E team
TAG Heuer and Porsche have signed a long-term agreement for their Formula E engagement, with the Swiss luxury watchmaker becoming title and timing partner. The agreement covers the ABB FIA Formula E Championship 2019/2020 which will see the Porsche works entry under the name of TAG Heuer Porsche Formula E Team. Both brands have a
September 3, 2019 in Business News -
Invest in Swiss Alps for safe returns – property expert
South Africans, fearful of a declining rand and uncertain property laws, could consider investing in Switzerland where one of the world’s top ski resorts offers safe and attractive returns and an idyllic getaway, says a leading SA property expert. Toni Enderli said Andermatt ski resort – rated among the best in the world for its
September 2, 2019 in Property & Real Estate -
Central banks are waking up to climate change dangers. It’s about time
The impact of climate change on the stability of individual financial institutions and the financial system in general is growing. It influences the types of activities that financial institutions will fund and the cost of finance. Central banks and other financial sector regulators have not always paid adequate attention to the sector’s impact on the
September 2, 2019 in Investments -
Ameen Al Qudsi: Making a difference when it comes to Abu Dhabi real estate
Ameen Al Qudsi, CEO of Nationwide Middle East Properties in Abu Dhabi, always strives to make a difference when it comes to the world of real estate. LEADERSHIP Since Nationwide continues to be the leading Real Estate Agency in Abu Dhabi, the company believes that for them to win together, they should always work together.
September 2, 2019 in Business News -
Barend de Loor appointed new Eris Property Group CEO
The Eris Property Group has appointed Barend de Loor as its new chief executive officer who assumed his new role at the property development, investment and services group as of 1 September 2019. De Loor succeeds long-standing CEO of 15 years Warren Schultze who will continue with Eris in an executive position with a focus
September 2, 2019 in Property & Real Estate -
Sharjah Research, Technology and Innovation Park: a new era shaping the future of R&D in the region
The Sharjah Research, Technology and Innovation Park (STRI Park), an initiative of the American University of Sharjah Enterprises (AUSE) was established in 2016 by a royal decree of His Highness Sheikh Dr. Sultan bin Muhammad Al Qasimi, Ruler of Sharjah and a member of the Supreme Council of the UAE. The park aims to develop
September 1, 2019 in Business News -
Dubai developer Sobha says planning IPO in 2022
Property developer Sobha is planning an initial public offering of its UAE business in 2022 even as a slump in prices weighs on developers in its Dubai base. The company will wait to meet profitability projections before making a final decision on the IPO, founder PNC Menon said in an interview. It hasn’t decided where
August 31, 2019 in Business News -
Reel Cinemas opens second phase of Al Ghurair Centre megaplex in Dubai
Second phase of opening has now been completed with 18-screens including Reel Cinemas’ flagship experiences The cinema will offer Hollywood blockbusters as well as Arabic, Hindi, Malayalam, Tamil, Telugu and Tagalog titles. Reel Cinemas, the cinema experience by Emaar Entertainment, has announced the completion of the megaplex at Al Ghurair Centre, the Middle East’s first
August 30, 2019 in Business News -
UAE petrol prices set to fall in September
UAE Fuel Price Committee announces that prices are set to fall in September following price increases in August Fuel prices in the UAE were liberalised in August 2015, so they now move with the market. The UAE Fuel Price Committee on Thursday announced that fuel prices are set to fall in September following price increases
August 30, 2019 in Business News -
Dubai’s RTA, Careem launch new e-hailing taxi service Hala
Dubai’s Roads and Transport Authority (RTA) announced on Thursday the official launch of Hala, a joint venture with ride-hailing app Careem. The new company is the newest way to book a Dubai taxi. Via the Careem app, it enables customers to ride at the touch of a button, a statement said. A trial run of
August 29, 2019 in Business News -
how some traders will be gearing up to short the pound
Since Boris Johnson took over as prime minister of the UK, the pound has crashed in value compared with the US dollar. The implication is that as a no-deal Brexit appears increasingly likely, international financial markets are getting more and more nervous about Britain’s economic prospects for the future. Shutterstock We have analysed the trends
August 29, 2019 in Investments -
Watch: how Emirati women are helping to shape the UAE
This year’s Emirati Women’s Day theme, ‘Women, Icons of Tolerance’, aims to highlight and promote the values of tolerance Sheikha Fatima bint Mubarak, Mother of the Nation, decided in 2015 that August 28 every year will be celebrated as the Emirati Women’s Day to coincide with the birth of the General Women’s Union. UAE is
August 29, 2019 in Business News -
Implementation and collaboration essential for growth plan success
The success of Treasury’s latest growth plan will hinge on practical implementation and collaboration with key stakeholders. Raymond Parsons The National Treasury’s 77-page growth plan now published for comment offers wide-ranging, constructive and fruitful ways for SA to make sense of its current economic malaise and in proposing several sensible policies and projects urgently needed
August 28, 2019 in Investments -
Oil & gas set to be the backbone of African growth
A string of successful exploration projects over the last decade has seen the number of African countries with proven oil and gas reserves rise to 28, thanks to new discoveries in Ghana, Niger, Mozambique, Uganda, Kenya, Senegal, Mauritania and South Africa. Area 4, Rovuma Basin, Mozambique The investment required to bring these countries onstream will
August 28, 2019 in Investments -
Exclusive: How Bahrain helped make Khabib Nurmagomedov a global UFC star
Russian fighting superstar Khabib Nurmagomedov will mark his return to the Octagon in Abu Dhabi on Saturday, September 7 for UFC 242, with thousands of fans in the region – and a MMA team in Bahrain – firmly in his corner for the hotly anticipated bout. Nurmagomedov hasn’t competed since he defeated Irishman Conor McGregor
August 28, 2019 in Business News -
British Airways customers left furious after cancellation confusion
In the UK, when people turn 100, it is customary to receive a card of congratulations from Her Majesty the Queen. However, on the day British Airways celebrated its 100th birthday all it received was thousands of angry emails after incorrectly cancelling upcoming flights. The UK carrier sent emails to passengers telling them their flights
August 27, 2019 in Business News -
Road deaths in the UAE down by 34.2% in last five years
Figures show number of serious traffic accidents decreased by 24.1 percent since 2014 The number of serious traffic accidents in the UAE decreased by 24.1 percent, down from 4,895 in 2014 to 3,712 in 2018. The number of road traffic deaths in the UAE has fallen by 34.2 percent in five years, down from 712
August 27, 2019 in Business News -
Johnson’s Brexit – less about strategy, more about economic headwinds in the EU
Boris Johnson’s Brexit strategy appears to be working but primarily because a recession is looming over Germany – meaning both sides need a good and fair deal. UK prime minister, Boris Johnson The UK’s prime minister appears to have brought German Chancellor Angela Merkel closer to his way of thinking on Brexit. “Merkel challenged Johnson
August 26, 2019 in Investments -
UAE prisoners go free thanks to Khalifa bin Zayed Al Nahyan Foundation
Thirty prisoners have been released from jail thanks to the Khalifa bin Zayed Al Nahyan Foundation. The foundation cooperated with the UAE penal and correctional institutions to pay the bail money of the 30 inmates, according to a report by Emirates News Agency (WAM). The initiative is part of the Year of Tolerance and aims
August 26, 2019 in Business News -
Dubai to set up special committee to resolve legal claims against Meydan
Dubai is planning to set up a special judicial committee to handle dozens of legal claims against government-owned developer Meydan, it was reported last week. According to a report by the Financial Times, in June the government suspended all legal claims against the developer Meydan City Corporation, its subsidiaries and affiliates and is planning to
August 25, 2019 in Business News -
Arabian Centres’ profits reach $60.53m
Saudi mall operator Arabian Centres’ Q1 consolidated net profit almost tripled to $60.53 million, largely driven by higher occupancy, the company has announced. The firm – which went public in May – reported that revenues went up 2.5 percent to SAR 572.5m ($152.65m), according to Arab News. In a statement, the group said its improved
August 25, 2019 in Business News -
UAE’s Taqa hails new production record at Kurdistan oil field
Abu Dhabi National Energy Company, better known as Taqa, has announced that its subsidiary has set a new production record from the Atrush oil field in the Kurdistan Region of Iraq. For the first time since the field commenced production operations in July 2017, the total monthly production volume exceeded 1 million barrels of oil
August 24, 2019 in Business News -
Game of Thrones helps drive surge in UAE tourists to Ireland
The popularity of Game of Thrones, the hit TV series filmed in Ireland, has contributed to a surge in visitors from the UAE to the Emerald Isle in the first six months of 2019, according to Dnata Travel. Travel from the UAE to the island of Ireland has seen strong growth with 58 percent more
August 24, 2019 in Business News -
Fossil fuel extraction could be contributing to climate change by heating Earth from within
Robert Lucian Crusitu/Shutterstock The world is now 1°C warmer than it was in pre-industrial times. Is this solely down to emissions of greenhouse gasses such as CO₂? Meteorologist Hubert Lamb, regarded as the father of modern climatology, argued that CO₂ levels alone couldn’t account for all of the global warming that’s been observed. His attention
August 23, 2019 in Investments -
Safi furniture directory launched to stimulate local procurement
The South African Furniture Initiative’s (Safi) furniture directory will be unveiled at the SARCDA Expo, which is being held at the Gallagher Estate in Gauteng from 22 August to 25 August 2019. Bernadette Isaacs, CEO South African Furniture Initiative The digital database will list South African furniture manufacturers and designers and the range of products
August 23, 2019 in Manufacturing -
Saudis to get four-day holiday for National Day celebrations
The Saudi Ministry of Civil Service has announced a four-day holiday to celebrate this year’s Saudi National Day. The holiday will start by the end of working hours on Thursday September 19, and work will be resumed on Tuesday September 24. The National Day is always celebrated on September 23 to commemorate the renaming of
August 23, 2019 in Business News -
South Africa close to ‘junk status’ from all three rating agencies. What would follow?
Moody’s, the only rating agency that keeps South Africa above junk, is scheduled to review its credit rating in November 2019. Shutterstock Fitch pointed to the expected increase in the government debt-to-gross domestic product (GDP) ratio. This would make it more difficult to stabilise public debt. The country’s public debt has been increasing due to
August 23, 2019 in Investments -
Which is the better investment?
For some time now, house prices have grown at a rate slightly below inflation. This continued house price decline in real terms has caused investors to take stock of their options. Real estate is, and always will be, one of the highest yielding long-term investments. However, if undertaken as a short-term investment, you might as
August 23, 2019 in Property & Real Estate -
Abu Dhabi to invest $128m to improve public transport
Abu Dhabi has announced plans to invest AED473 million ($128.7 million) in 327 new public transport buses. As part of the Integrated Transport Centre’s (ITC) plan to improve the public transport network, it said it will add 40 new buses from October 11. “The enhancement of the public transport network in Abu Dhabi follows ITC’s
August 22, 2019 in Business News -
Upper end of Winelands property market shows encouraging activity
While top end of the market is often the sector that bears the brunt in a downturn with the biggest drop in sales volumes and prices, it’s also the segment that signals a positive upturn. This is according to Chris Cillliers, CEO and principal of Lew Geffen Sotheby’s International Realty in the Winelands, who says
August 22, 2019 in Property & Real Estate -
Saudi retailer said to pull out of franchise deal with Marks & Spencer
Saudi retailer Fawaz Abdulaziz Alhokair Co has reportedly pulled out of its franchise partnership with Marks & Spencer. Reuters quoted a company statement as saying it has ended similar agreements with a number of “non-performing” brands. The firm, which owns franchise rights for brands including Mango, Zara and Banana Republic in the Middle East, said
August 22, 2019 in Business News -
Saudi Arabia Women Travel Restrictions: Saudi Arabia starts to lift travel restrictions on women
Saudi Arabia on Tuesday began implementing a landmark reform allowing women over the age of 21 to receive passports and travel abroad without permission from a male “guardian”, authorities said. The reform, announced earlier this month, weakens the restrictive guardianship system that has long been a symbol of repression against women. “The passport department has
August 21, 2019 in Business News -
2 copies of Essentials of Retirement Fund Management up for grabs
An essential resource for trustees of retirement funds, the Essentials of Retirement Fund Management includes commentary and legislation in a concise and informative style that will appeal to all tiers of trustees. The title is the prescribed text for short courses on retirement funds and a quick reference for principal officers and professionals involved in
August 21, 2019 in Investments -
Katlehong Engineering School set to address skills shortage
The newly launched Engineering School of Specialisation in Katlehong is set to address the skills shortage and unemployment through public-private partnership. Launched on Tuesday, 20 August, by Gauteng Education MEC Panyaza Lesufi, the school focuses on manufacturing, transport and logistics. The school is strategically situated in the Eastern Economic Development corridor, where the major industries
August 21, 2019 in Manufacturing -
South Africa is caught in the global hype of the fourth industrial revolution
South Africa is caught up in the global hype of the fourth industrial revolution (4IR). This is distracting it from the unfinished business of redressing inequality and creating the preconditions for an inclusive digital economy and society. There’s nothing inherent in Fourth Industrial Revolution technologies that will result in economic growth. Shutterstock Reinvented by Klaus
August 21, 2019 in Investments -
Visa cardholders to be granted pre-sale access to Coca-Cola Arena events
Dubai’s Coca-Cola Arena has 100 percent contactless payment acceptance The 17,000-capacity Coca-Cola Arena is capable of hosting events all year, including concerts, sporting tournaments, e-gaming events, comedy gigs, conferences and gala dinners. Visa and Dubai’s Coca-Cola Arena have announced a ‘strategic partnership’ that will see Visa cardholders and clients be offered exclusive pre-sale access to
August 20, 2019 in Business News -
Thai trade delegation heads for talks with SA importers
Manufacturers from leading SA trading partner Thailand will travel to Johannesburg later this month, for meetings with local importers, distributors, wholesalers and retailers. With a history of over 25 years of cordial diplomatic relations and rapidly growing trade ties, Thailand is South Africa’s 9th largest trading partner, and its biggest trading partner in the ASEAN
August 20, 2019 in Manufacturing -
Eswatini moves forward with renewable energy plans
The Kingdom of Eswatini’s reliance on imported power from its neighbours – Mozambique and South Africa – will be reduced after it issued a request for the qualification and development for a 40MW solar PV plant and a 40MW biomass-to-energy plant. Maguga Dam is one of the hydro power projects in Eswatini The new solar
August 20, 2019 in Energy -
Emaar buys remaining 35% of resort developer Mirage for $18m
Dubai’s Emaar Properties in April completed its acquisition of resort developer Mirage Leisure and Development, having bought the remaining 35 percent stake for $18 million, according to financial statements filed on the Dubai Financial Market last week. The developer secured a 65 percent stake in the company in October 2015 for $34m. Mirage Leisure and
August 20, 2019 in Business News -
Damac in talks with DICO over Al Sufouh, Business Bay land plots
Leading Dubai developer Damac Properties is in talks with DICO Properties to acquire two plots of land in Al Sufouh and Business Bay, according to a statement on the Dubai Financial Market (DFM). Damac will reveal the value of the transaction once it is completed, and will also share the deal’s impact on its income
August 19, 2019 in Business News -
Fukuyama's 6 simple strategies to get SA off the ground
Francis Fukuyama</span>Every country, South Africa included, needs to formulate its own development strategy. Professor Francis Fukuyama, senior fellow at Stanford University, made a number of important points about how such a strategy should be advanced during his recent visit to the country. Read more… | Send to a friend Source link
August 19, 2019 in Investments -
Energy still a key challenge to African industrialisation
Reliable energy was highlighted as a key challenge during a week-long trade and investment mission to Zambia by South African companies. Chiboni Evans, CEO of the South African Electrotechnical Council “Without energy, the African continent will remain in a state of poverty. Unless the energy deficit is addressed, Africa will continue talking about industrialisation, growing
August 19, 2019 in Investments -
Disaster fund needed to clean KZN river spill
As a major KwaZulu-Natal river turned into a cauldron of dying fish this week, Willowton Oil – the company responsible for the pollution incident – has been called upon to set up a disaster fund. Countless fish have died following a spill from the Willowton Oil factory on Tuesday. Photos showing this kind of devastation
August 19, 2019 in Manufacturing -
How Levi’s is tackling water sustainability
Having never been inside an actual factory before, never mind a clothing factory, I had imagined mega-machines and giant conveyor belts – nothing but cold hard steel moving fabric about. Upon a tour of the Levi’s factory in Cape Town though, I was fondly surprised to find a seemingly endless sea of people – attaching
August 19, 2019 in Manufacturing -
Bahrain inks deal to buy Patriot missile defence system
Bahrain has signed an agreement to purchase Raytheon’s combat-proven Patriot air and missile defence system from the US Army, it has been announced. The letter of offer and acceptance allows the US government to begin contract negotiations with Raytheon for production of an undisclosed quantity of systems and missiles, the company said in a statement.
August 19, 2019 in Business News -
UAE pharma giant posts $26m loss as Saudi ban weighs
Gulf Pharmaceutical Industries, one of the largest pharmaceutical manufacturers in the Middle East and Africa, has reported a “disappointing” net loss in the second quarter of 2019. The loss of AED96 million ($26.1 million) on sales of AED100 million in the three months from April to June come as the company, better known as Julphar,
August 18, 2019 in Business News -
Dubai Mall’s dinosaur skeleton to be auctioned online
A massive 155 million-year-old dinosaur skeleton will be for sale as Emirates Auction organises the Middle East’s first such auction online. The 24.4 metre-long by 7 metre-high skeleton, which dates back to the Jurassic period, will be offered at a starting value of AED14.6 million ($3.97 million) and bids will end on August 25, Emirates
August 17, 2019 in Business News -
UAE, Saudi, Bahrain cut interest rates following US Fed
Central banks in Saudi Arabia, the United Arab Emirates and Bahrain cut their benchmark interest rates on Wednesday by 25 basis points following a similar decision by the Fed. It was the first time in more than a decade that the US Federal Reserve cut interest rates. Kuwait kept its discount rate unchanged at 3
August 17, 2019 in Business News -
Five 3D printing myths
3D printing refers to a range of digital fabrication processes that build objects directly from computer models, without expensive tooling, in layers of material. Although 3D printing processes vary widely, including melting metal powder with lasers or hardening liquid plastic “ink” with ultraviolet light, most people tend to think of 3D printing desktop machines that
August 16, 2019 in Manufacturing -
Emirates airline to introduce advance booking for in-flight meals
Emirates airline will introduce the option later this year, according to Joost Heymeijer, Emirates Inflight Catering Passengers of the Premium Economy Class will be able to select their meals from the Business Class offerings. Passengers will soon be able to pre-book their in-flight meals on Emirates airline, according to the senior vice president of Emirates
August 16, 2019 in Business News -
No plans to delay introduction of VAT in Oman, says finance ministry
Oman’s Ministry of Finance has said there are no plans to postpone the implementation of value added tax (VAT) in the country. Oman agreed to introduce VAT in 2018, as part of the GCC Unified Agreement, although it later delayed its implementation to 2019. Citing a bond prospectus, Reuters reported that Oman “expected VAT to be
August 15, 2019 in Business News -
Warranty and indemnity insurance in South Africa’s M&A environment
Over the past few years, buyers have gained a better understanding the benefits of the warranty and indemnity (W&I) insurance product in a merger or acquisition (M&A) contract.his insurance product has matured with Image source: Getty/Gallo This has led to a remarkable increase in the use of the product to cover for losses arising from
August 15, 2019 in Investments -
Fairvest, Safari merger no longer on the cards
According to Fairvest Property Holdings Limited, it has elected, by mutual agreement, to not proceed with its friendly merger with Safari Investments RSA Limited. Fairvest CEO Darren Wilder comments: “We undertook a thorough due diligence of the Safari operations and are convinced that a merger would have created a specialised, lower LSM retail-only focused fund
August 15, 2019 in Investments -
SA cement producers apply for safeguards as imports undercut local industry
The Concrete Institute (TCI) has applied to the International Trade Administration Commission (ITAC) of South Africa to investigate the surge in imports of cement at low prices. TCI represents AfriSam (South Africa), Dangote Cement South Africa, Lafarge Industries South Africa, Natal Portland Cement Company, and PPC. Speaking at a press briefing on the application, TCI
August 15, 2019 in Manufacturing -
Inside the $673 billion MENA start-up investment sector
While the number of start-up investment deals in the Middle East and North Africa (MENA) decreased by 16 percent last year, and the overall number of new investors coming into the market has slowed, the United Arab Emirates continues to dominate as the core market and the failure rate for new start-ups continues to remain
August 15, 2019 in Business News -
Britain is stumbling towards an economic abyss
A growing number of UK and global investors will move their assets overseas as Britain stumbles towards an economic abyss. The country’s economy shrank in the second quarter – the first time in seven years. Image source: Getty/Gallo “Sterling has taken another pounding after the UK’s economy was shown to have contracted in the second
August 14, 2019 in Investments -
Where are they now? The Steven Gerrard Tower
As part of our ongoing summer series, we will be looking back at some of the most colourful and extraordinary proposals pitched in the UAE and the wider Gulf and investigating what happened to them. In the last few weeks, we have looked at plans for an underwater tennis stadium pitched by a Polish architect;
August 14, 2019 in Business News -
Durban property market buoyed by regeneration
According to Michelle Burger, Pam Golding Properties’ area principal in Durban, residential property buyers in Durban have been galvanised into action with realistically priced homes selling within a week or two and even an apartment in sought-after and trendy Florida Road in Morningside snapped up within an hour of the listing going live. Florida Road,
August 14, 2019 in Property & Real Estate -
E-commerce driving demand for warehouses in UAE
Demand for warehouses in the UAE is set to grow, bolstered by the increasing popularity of e-commerce and online shopping, according to Saleh Abdullah Lootah, CEO of Lootah Real Estate Development. Real estate services and investment firm CBRE, has revealed the supply of storage space in the UAE remains relatively low. “All over the world,
August 13, 2019 in Business News -
Pep Clothing celebrates 50 years of local production
Pep Clothing (PepClo), a division of Pepkor Holdings, is celebrating 50 years of production in South Africa. The company – which is SA’s largest clothing manufacturer under one roof, employing just over 2,000 people – has reached this milestone birthday despite operating in a strained garment manufacturing environment over the last few decades. Affordable school
August 13, 2019 in Manufacturing -
Cigarettes without digital tax stamps now officially illegal, FTA
Move aims to prevent tax evasion and protect consumer rights in UAE The scheme is aimed at preventing tax evasion, protecting consumer rights and preserving the environment using advanced electronic control systems. The sale and possession of cigarettes which do not bear Digital Tax Stamps will be prohibited across the UAE, from today (August 1)
August 13, 2019 in Business News -
Nearly 70% of UAE students use social media for five hours or more daily
Around 69.7 percent of UAE students use social media for five hours or more on a daily basis, according to a study by Canadian University Dubai. The study is aimed at raising awareness over the impact of social media on the mental health of the region’s youth, reported state news agency WAM. The research answered
August 12, 2019 in Business News -
Why investors should steer clear of the South African rand exchange rat race
Discussions regarding the rand exchange rate have been known to lead to many emotionally charged debates. Many South African citizens use the exchange rate against major developed markets (such as the United States and the United Kingdom) as an indicator of the state of the country. When the rand does well, South Africans tend to
August 12, 2019 in Investments -
In a downturn economy, there are deals to be had
Alternate lending, including fintech offerings, have a vital role to play in the future of our economy. But in the current environment, there is a cautionary tale for both want-to-be lenders and consumers. Gary Palmer, CEO, Paragon Lending Solutions The contracting economy as well as the prominent global success of a few fintech startups has
August 12, 2019 in Investments -
Africa’s real estate sector poised for growth
Host of the 10th annual Africa Property Investment (API) Summit Kfir Rusin asks: as Central and Eastern Europe become increasingly popular for South Africa’s property sector due to subdued growth potential and earnings locally, should these funds not be investing closer to home? “In the first two quarters of 2019, we’ve tracked ten significant transactions
August 12, 2019 in Property & Real Estate -
Abu Dhabi trials e-scooter rentals to reduce traffic
Abu Dhabi is piloting e-scooter rentals for use on pedestrian and cycle paths in a bid to reduce traffic in the UAE capital, according to the city’s transport authority. The Integrated Transport Centre (ITC) said companies can now apply for a business licence to run electric scooter rental services, which were banned in Dubai in
August 12, 2019 in Business News -
Emirates among top 5 airlines for passenger, cargo numbers
Emirates airline was among the world’s top five carriers in terms of passengers and air cargo flown last year, according to a new report from the International Air Transport Association (IATA). The data revealed Emirates flew 302.3 billion passenger kilometres, placing it in fourth place after American (330.6 billion), Delta (330 billion), and United (329.6
August 11, 2019 in Business News -
Unruly Air India Express passenger delays Dubai flight to Mumbai
An Air India Express flight from Dubai to Mumbai had to return to the airport terminal at Dubai after taxiing on Sunday evening due to the unruly behaviour of a passenger. The incident delayed the flight by one-and-a-half-hours, close on the heels of a 27-hour delay by an Air India flight from Dubai to Kochi
August 10, 2019 in Business News -
UAE comedians ‘push more boundaries’, says Flash Entertainment CEO
Comedians performing in the UAE ‘push more boundaries’ in terms of sensitive content compared to those performing internationally, according to the CEO of Abu Dhabi-owned Flash Entertainment. The events company brought comedian Russell Peters to the recently opened Coca Cola arena in Dubai in June, as well as celebrities ranging from The Rolling Stones to
August 10, 2019 in Business News -
Private jet operators expect business aviation passenger surge
There will likely be a surge in the number of passengers flying on private and business aviation jets in the region as the industry rapidly becomes more affordable and more aircraft become available, according to industry insiders. In an interview with Arabian Business, Adel Mardini, the CEO of Dubai-headquartered Jetex Flight Support – which has
August 9, 2019 in Business News -
PIA offers discounted flights from Pakistan to the UAE
Pakistan International Airlines (PIA) is offering cheaper flights for passengers travelling to the United Arab Emirates. The national carrier is offering 20 percent off flights to Abu Dhabi, Al Ain, Dubai and Sharjah, up until August 12 this year. “We have another discount deal! Offering an amazing 20 percent discount from Pakistan to UAE (Abu
August 8, 2019 in Business News -
Diageo dedicates $219m to sustainability projects in Africa
Diageo, one of the world’s largest producers of spirits and beers, has committed to investing $219million in renewable energy upgrades at 11 of its breweries in Africa. The move represents Diageo’s largest environmental investment in a decade. With a goal to reduce its carbon footprint and help address climate change, the company says it will
August 8, 2019 in Manufacturing -
DFSA unsure of ability to impose $314m fine on Abraaj firms
The Dubai Financial Services Authority is unsure whether it will be able to enforce a record $314 million fine it imposed on two Abraaj Group companies for deceiving investors and the regulator. Earlier this week, the DFSA said it had handed out fines of $299.3 million and $15.2 million on Abraaj Investment Management Limited (AIML)
August 8, 2019 in Business News -
How to spot a fixer-upper that’s worth the investment
Buying and renovating a fixer-upper property – one that’s a little dated or run-down – is a time-honoured tradition for bargain-hunting buyers looking to maximise their return on investment. Of course, finding the right property is integral to the success of this strategy – a poorly chosen project could easily cost far more to renovate
August 8, 2019 in Property & Real Estate -
Senegal on the cusp of an energy renaissance
After decades of struggles against a deficient power generation system, Senegal is now at the verge of a paradigmatic shift that could put many of its troubles to rest. Greater Tortue Ahmeyim LNG development. Photo credit: BP New power generation facilities have greatly reduced outages have greatly diminished, system reliability has improved and with it
August 8, 2019 in Investments -
Saudi Binladin Group said to seek financial advisors for debt restructuring
Sources have told Reuters the debt amounts to $20-$30bn Binladin is now 36.22 percent owned by Istidama, a subsidiary of the Saudi Finance Ministry, and 63.78 percent by Binladin Company for Development and Commercial Investment. Saudi Binladin Group is said to be seeking a financial advisor for a restructuring of the group’s debt, which
August 7, 2019 in Business News -
Perceptions about retirement can inform whether black South Africans save or not
Retirement can either mean a loss of identity and social relations, or freedom from a dictated schedule. Shutterstock Other than assessing the extent to which people save for retirement, their attitudes towards retirement must be considered when creating a retirement plan. This is because one’s attitude to retirement may either encourage or dissuade one from
August 7, 2019 in Investments -
MidEast’s first blockchain KYC data-sharing consortium launched in Dubai
A new alliance involving Dubai International Financial Centre (DIFC), Mashreq Bank and fintech firm Norbloc will launch the Middle East region’s first blockchain-based ‘know your customer’ (KYC) data-sharing consortium. The partnership, which started with a memorandum of understanding signed in January this year, will facilitate faster, more secure onboarding and exchange of supporting documentation via
August 7, 2019 in Business News -
South Africa’s finances are in bad shape. It’s running out of time to fix them
Under President Jacob Zuma the economy didn’t recover as much as it should have from the global financial crisis. Shutterstock Recent developments since the tabling of the 2019/20 Budget in February 2019 have only made the situation worse. A downgrade of government debt to ‘junk’ by a third ratings agency will lead to an outflow
August 6, 2019 in Investments -
Abu Dhabi fund said to be in talks with Indian hospital chain
Abu Dhabi Investment Authority (ADIA) is understood to be in talks with Apollo Hospitals Enterprise, which runs India’s largest private sector hospital chain, to make an investment in its holding company, PCR Investments. Sources in Apollo Hospitals said the total investments PCR Investments Ltd is looking for could be about $150 million. The investment is
August 6, 2019 in Business News -
Trade partnerships must be aligned to the AfCFTA
Trade partnerships should be aligned to the African Continental Free Trade Agreement (AfCFTA), Trade and Industry Minister Ebrahim Patel said Minister of Trade and Industry, Ebrahim Patel He was addressing one of the opening sessions of the African Ministers Consultative Meeting in Abidjan, Cote d’Ivoire, in preparation for the Africa Growth and Opportunity Act (Agoa)
August 6, 2019 in Investments -
SA’s furniture industry to unveil its master plan by 2020
The South Africa Furniture Initiative (Safi) has indicated that the proposed Furniture Industry Master Plan (FIMP) will be completed by 2020. The FIMP will focus on the development and support of the local industry. Industry specialists and government representatives discussed the creation of a Furniture Industry Master Plan (FIMP) at the recent Furniture Sector Forum,
August 6, 2019 in Manufacturing -
Saudi Arabia’s Taif season creates 15,000 jobs amid tourism boom
Taif’s ‘Summer Season’, which began on August 1, will help create seasonable job and investment opportunities for young Saudis and SMEs, according to the Saudi Commission for Tourism and National Heritage (SCTH). According to the SCTH, as many as 15,000 jobs have been created as a result of the 30-day festival. The event is designed
August 5, 2019 in Business News -
Lessons to be learnt from Ghana’s excess electricity shambles
Electricity pylon. Wikimedia Commons It is estimated that two out of three households (almost 600 million people) in sub-Saharan Africa have no access to electricity. Ghana has also had its challenges. A shortage of generating capacity led to rationing in 2014 and 2015, with serious consequences for the economy. Nearly five years later the country
August 5, 2019 in Energy -
Trend continues to shift towards sectional title living
Demand for sectional title units in apartment complexes in easily accessible locations continues to rise, according to Dr Andrew Golding, chief executive of the Pam Golding Property group, thanks to today’s fast-paced, busy lifestyle and a trend towards smaller living spaces. Olivewood East London Says Dr Golding: “With South Africa’s young demographic profile, it is
August 5, 2019 in Property & Real Estate -
Dubai Investments posts 17% rise in Q2 net profit
Dubai Investments on Thursday reported profit of AED151 million ($41.1 million) for the second quarter of 2019, an increase of 17 percent compared to the same period last year. Profit for the first six months of the year was AED353 million, down from AED491 million in the previous year, the company said in a statement.
August 5, 2019 in Business News -
Energy giants Eni, BP ink Oman gas exploration deal
Energy giants Eni and BP have entered into a gas exploration and production sharing agreement (EPSA) for Block 77 with the Government of Oman. Block 77 covers an area of 2,734 sq km located in central Oman, a statement said. It added that during the exploration phase Eni and BP will each hold a 50
August 4, 2019 in Business News -
Consortium completes exit from GEMS Education investments
A consortium of investors led by Fajr Capital, including Blackstone and Bahrain Mumtalakat Holding Company, the sovereign wealth fund of Bahrain, have announced the completion of their divestment from Dubai-based GEMS Education. The completion of the sale to a consortium led by CVC Capital Partners follows the signing of a definitive agreement to acquire approximately
August 3, 2019 in Business News -
New Japanese envoy seeks deeper ties with the UAE
Japan and the UAE are discussing an initiative to teach Japanese as a second foreign language in some UAE high schools, according to a top diplomat. “It is expected to start within a year,” Akihiko Nakajima, the new Japanese Ambassador to the UAE, told state news agency WAM in an interview. He said both nations
August 3, 2019 in Business News -
Size of Saudi’s F&B market to overtake Dubai soon, says Sunset CEO
Sunset Hospitality Group has said it expects the Saudi Arabian F&B market to overtake Dubai in terms of size in the near future as it plans a major expansion in the kingdom. Speaking to Caterer Middle East, CEO Antonio Gonzalez said the group “expects Saudi to account for the biggest percentage of contribution to our
August 2, 2019 in Business News -
Vukile subsidiary acquires 30,000m2 Spanish shopping centre
Castellana Properties SOCIMI SA, Vukile Property Fund’s listed Spanish subsidiary, recently announced that it has acquired the 30,000m2 Puerta Europa shopping centre in Algeciras, Cadiz, Spain. Laurence Rapp, CEO of Vukile Property Fund, says, “This accretive acquisition takes our Spanish assets over €1bn. Puerta Europa is a dominant, modern shopping centre distinguished by impressive sales
August 2, 2019 in Property & Real Estate -
Investment lessons from a drought
Just over a year ago, there was only one topic of conversation in Cape Town – water shortages, the level of the city’s reservoirs and how, if something drastic was not done, the city would hit Day Zero.Today the focus has shifted from restricting consumption of this precious resource to improving how water is harvested,
August 2, 2019 in Investments -
Central banks load up on gold as demand hits 3-year high
Central banks continued to load up on gold in the first half, helping push total bullion demand to a three-year high, according to the World Gold Council. Nations added 374.1 tons in the first six months as Russia and China kept building reserves and Poland made a massive purchase. The trend is expected to continue,
August 2, 2019 in Business News -
US airport security finds ‘souvenir’ missile launcher bought in Kuwait
US transport security officers confiscated a missile launcher from a checked bag at a Washington-area airport on Monday, with a Texas man saying it was a souvenir from Kuwait. The launcher was found “early this morning” at Baltimore/Washington International airport, Transportation Security Administration (TSA) spokeswoman Lisa Farbstein tweeted. The “man said he was bringing it
August 1, 2019 in Business News -
Stena concerned about welfare of crew on tanker detained by Iran
Iran’s Revolutionary Guard is still holding the vessel, the Stena Impero, and 23 crew members detained on July 19 The UK has threatened “serious consequences” if the ship and its crew are not released. The owner of a British tanker seized by Iran in the Strait of Hormuz earlier this month raised concerns about the
July 31, 2019 in Business News -
Africa is championing the flexible workspace revolution
Franchise opportunities – Africa’s economy will grow faster than any other continent’s over the next five years and flexible working is a huge part of that future. The African workforce is mushrooming, and by 2035, its numbers will have increased by more than the rest of the world’s regions combined.¹ According to World Bank analysts,
July 31, 2019 in Investments -
TLAB impacts on Section 12J tax incentive
S12J has a sunset clause. Image source: Getty/Gallo The major proposed TLAB amendment reintroduces a limitation on the amount an investor can deduct from taxable income in respect of a particular year of assessment. It has been proposed that the tax deduction for an investment in a Section 12J company be limited to R2.5m per
July 31, 2019 in Investments -
Slowdown persistent in global cities’ prime residential markets
According to the latest data from Savills World Cities Prime Residential Index, price growth across the world’s leading prime city housing markets has continued to slow during the first half of 2019, rising by just 0.4%, taking the annual growth to 0.7%. This compares to an annual increase of 5.1% in the year to June
July 31, 2019 in Property & Real Estate -
Saudi Football Federation appoints Herve Renard as national team coach
Herve Renard, who resigned as Morocco coach following the team’s surprise elimination at the African Cup of Nations, said on Monday he was taking over Saudi Arabia’s national team. “Happy to start a new adventure in Saudi Arabia on a new continent,” the 50-year-old Frenchman tweeted. He led Zambia to a surprise African Cup of
July 31, 2019 in Business News -
Damac introduces ‘work permit fee’ for external cleaners and maintenance
External vendors and contractors working for cleaning and maintenance companies will be charged a “work permit fee” to be allowed to operate in Damac Properties buildings, the company has announced. Owners and residents of properties managed by Damac or Loams – the Luxury Owner Association Management Services – properties were informed of the change in
July 30, 2019 in Business News -
Real estate developers urged to invest in dorpies
Tourism minister Mmamoloko Kubayi-Ngubane has called on real estate developers to invest and partner with communities to stimulate inclusive growth and development in South Africa. Addressing the Real Estate Development Summit in Johannesburg, Kubayi-Ngubane said while South Africa is endowed with many a great landscape and diverse culture, because of the country’s unfortunate history, spatial
July 30, 2019 in Property & Real Estate -
Kuwait’s budget deficit narrows to $11bn on oil price, revenues
Kuwait’s budget deficit narrowed to KD3.35 billion ($11 billion) in the last fiscal year, down 31 percent from a year earlier on higher-than-anticipated crude prices and a rise in non-oil revenue, the Finance Ministry said on Monday. The shortfall last year was Kuwait’s fifth consecutive deficit. Revenue in the year ended March 31 rose to
July 29, 2019 in Business News -
SA investors need to fall out of love with equities
South Africa’s equity market capitalisation equates to more than 200% of the country’s gross domestic product (GDP), the highest proportion in the world and a level that is simply not sustainable. Kevin Lings, chief economist at Stanlib “South African investors are in love with equities – we kind of think it’s the only place to
July 29, 2019 in Investments -
Fitch downgrades SA’s investment rating
Fitch has affirmed South Africa’s long-term foreign and local currency debt ratings at ‘BB+’ and to also revise the outlook to negative from stable, keeping the country’s rating below investment grade. According to Fitch, the outlook revision reflects the following: A marked widening in the budget deficit as a result of lower GDP growth and
July 29, 2019 in Investments -
Green bonds are helping investors take action against climate change
Climate change is one of the most pressing sustainability challenges investors are facing today. It presents a systemic risk that is very difficult for investors to diversify away. The physical risks associated with a rise in global temperatures, and the transition risks created by shifting towards a low-carbon economy are already having wide-reaching consequences for
July 29, 2019 in Investments -
DIFC bucks global trend with double-digit growth in companies
Malaysia’s Maybank Islamic Berhad, Cantor Fitzgerald and Australia’s Atlas Wealth Management were among the financial firms that joined Dubai ranked as the Middle East’s leading financial centre in a March study by consulting firm Z/Yen. The number of financial companies operating in the Dubai International Financial Centre rose 11% during the first half, even as
July 29, 2019 in Business News -
Entrepreneur of the Week: Adam Whitnall, founder of Simplynewcars.com
He’s been working in the automotive industry since he was a teenager – from petrol stations to workshops and insurance companies to automotive publishing. Despite his experience in various markets including his native New Zealand, Europe, and the Middle East, Adam Whitnall continued to struggle when searching for a car that matched his needs. Instead
July 28, 2019 in Business News -
Dubai, Sharjah reveal ferry plan to ease commuter congestion
Dubai’s Roads and Transport Authority on Saturday launched a ferry service to commute passengers between Dubai and Sharjah. The service from Al Ghubaiba Marine Station to Aquarium Marine Station is the first marine transit service operated between Dubai and any other emirate and is part of the RTA’s plan to improve marine transportation services. The
July 28, 2019 in Business News -
Bahrain seeks to rebrand after years under fire
Sunni-ruled Bahrain seeks to rebrand itself as an open and tolerant state after long being criticised by international rights groups for its crackdown on Shiite protesters, experts said. Shortly after hosting a US-led international workshop on the Palestinian economy, Bahrain announced last week it would host a global security conference following a series of incidents
July 27, 2019 in Business News -
UAE’s Utico plans to raise $366m in Singapore listing
UAE-based utility Utico plans to raise as much as S$500 million ($366 million) through a listing on the Singapore Exchange in the next two years, according to chief executive officer Richard Menezes. “We are meeting SGX today for Utico’s listing and other matters,” Menezes told Bloomberg in Singapore on Thursday. The valuation of the company
July 26, 2019 in Business News -
what first speech as prime minister suggests is in store for Britain
Boris Johnson. Image CNN At last, a genuine Leaver at the head of government, rather than someone whose loyalties to the cause of Brexit were always in doubt. At last, an opportunity to break the political gridlock that has plagued Westminster ever since Theresa May brought back the controversial Withdrawal Agreement at the end of
July 26, 2019 in Investments -
Ramaphosa should focus on inequality rather than squeezing poor people
Community members in Zandspruit west of Johannesburg block roads after their illegal electricity connections were removed. EPA/Kevin Sutherland The bankrupt state electricity company, Eskom, is increasingly cracking down on illegal but widespread non-payment for electricity. The problem is that this informal subsidisation is now integrated into household budgets. Tackling non-payment will remove a mechanism that
July 26, 2019 in Investments -
Dubai hotels suffer worst Q2 occupancy rates for a decade
Hotels in Dubai suffered the lowest second quarter occupancy rate since the time of the global economic a decade ago, according to new figures released by analysts STR. Occupancy in the emirate fell by 0.9 percent in Q2 to 67.1 percent, its lowest mark since 2009 as supply outgrew demand for the sixth consecutive quarter.
July 26, 2019 in Business News -
SA’s maturing green energy sector attractive for investors
Since government launched the Renewable Energy Independent Power Producer Procurement Programme (REIPPPP) in 2011, green power projects have become increasingly appealing investments for local and international players. However, the landscape has changed drastically since the first two rounds of the programme. All of the projects in the first three rounds are now fully installed and
July 25, 2019 in Investments -
Andalus Towers A, B of Dubai’s Jumeirah Golf Estates complete
Dubai-headquartered developer Jumeirah Golf Estates (JGE) has handed over two of seven residential towers at its Andalusian-inspired community within the 1,119ha Jumeirah Golf Estates masterplanned development in the UAE emirate. In a statement, JGE said one-, two-, three-, and four-bedroom apartments in both towers have sold out. The handover of Tower A was completed earlier
July 25, 2019 in Business News -
Dubai Customs foils bid to smuggle $810,000 of pills
Dubai Customs said on Wednesday it has foiled an attempt to smuggle 800,000 Captagon pills into the country with a street value of AED3 million ($810,000). In a special operation, the drug haul was found concealed in the fuel tank of a boat shipment coming to the Port of Jebel Ali, state news agency WAM
July 24, 2019 in Business News -
Healthcare as a key driver for economic growth
Healthcare is often viewed as just a cost that South Africa carries. But it is in fact a key driver of economic activity on a number of fronts. Source image: Getty/Gallo “Healthy people work longer and harder. Healthcare sparks innovation. It is an employment engine and medical tourism is a powerful foreign exchange earner,” said
July 24, 2019 in Investments -
$4.5bn AI firm SenseTime to set up R&D office in Abu Dhabi
The Abu Dhabi Investment Office (ADIO) has signed a strategic partnership agreement with China-based AI company SenseTime to establish the firm’s EMEA research and development centre in Abu Dhabi, the companies announced on Tuesday. The agreement was signed in the presence of Abu Dhabi Crown Prince and Deputy Supreme Commander of the UAE Armed Forces
July 24, 2019 in Business News -
IMF slashes MidEast growth projections over Iran sanctions
The International Monetary Fund Tuesday slashed its economic growth forecast for the Middle East and North Africa to the worst level in more than a decade over Iran sanctions and regional unrest. In its World Economic Outlook update, the global lender projected economic growth for the Middle East, North Africa, Afghanistan and Pakistan this year
July 23, 2019 in Business News -
the jester will take the throne
Pork barrel politics? PA/Darren Staples Too harsh? I think not. Too partisan? Not at all. The tragedy of this tale is that the idea of Jeremy Corbyn, leader of the opposition, walking into Number 10 also fills me with a sense of doom and gloom. There is a common assumption that, one way or another,
July 23, 2019 in Investments -
Nedbank CIB concludes Centum real estate deal in Kenya
Nedbank CIB recently announced the conclusion of its Centum Investment Company Plc (Centum) real estate deal in Kenya, said to be of substantial value. Centum operates as an affiliate of the Kenyan government-owned Industrial and Commercial Development Corporation. With a focus on the creation of investment-grade opportunities in real estate and infrastructure, financial services, fast
July 23, 2019 in Property & Real Estate -
Britain says planning European-led protection force in Gulf
Foreign Secretary Jeremy Hunt on Monday said Britain wanted to establish a European-led maritime protection force in the Gulf but emphasised that London was not seeking a confrontation with Iran. “We will now seek to put together a European-led maritime protection mission to support the safe passage of both crew and cargo in this vital
July 22, 2019 in Business News -
Lifting as she climbs
There is still much work to be done in South Africa to create an even playing field for women. In her role as president of African Women Chartered Accountants, Zama Khanyile is playing her part. A fund manager at the National Empowerment Fund, she also leads a team that provides access to capital for some
July 22, 2019 in Investments -
Property finance: Are stokvels the future?
Results from the 2019 Old Mutual Savings and Investment Monitor show that it is entirely possible that a new, parallel property finance market could be born out of the rapid rise of property stokvels. This potential for disruption is enormous considering that the size of the traditional stokvel market has grown to an estimated annual
July 22, 2019 in Property & Real Estate -
Public protector held personally liable for Sarb court costs
The Constitutional Court has upheld the order against Public Protector Busisiwe Mkhwebane to personally pay for legal costs in the matter involving the South African Reserve Bank (Sarb). Constitutional Court The matter involves a judgement delivered by the North Gauteng High Court in 2018, which set aside the findings and remedial action of the Absa/Bankorp
July 22, 2019 in Investments -
Automation Anywhere eyes opportunities in UAE airline sector
Softbank-backed AI and robotics firm Automation Anywhere is in talks with a number of UAE-based airlines and telecom operators to provide software it says can boost productivity by undertaking mundane day-to-day tasks, according to Milan Sheth, the company’s executive vice president for India, the Middle East and Africa. The company – which also has Goldman
July 22, 2019 in Business News -
Third of workers in UAE, Saudi would take pay cut for more holiday time
Thirty six percent of working professionals in the UAE and 26 percent in Saudi Arabia would rather take a pay cut in exchange for more holiday time. An online study in the two countries by LinkedIn shows this number hits 38 percent and 22 percent among millennials and, for those aged between 54 and 74,
July 21, 2019 in Business News -
Diubai’s RTA, Careem to launch Hala service in September
The Roads and Transport Authority (RTA) and Careem on Saturday announced the launch of their taxi e-hailing service in Dubai. Under a joint venture called Hala, the service will officially being in September, said Mattar Al Tayer, director general and chairman of the RTA. Hala started a trial for Dubai Taxis in May on 2,000
July 20, 2019 in Business News -
Janet Jackson, 50 Cent, Chris Brown rock Jeddah World Fest
Janet Jackson, 50 Cent and Chris Brown were among artists who performed Thursday at a concert in Saudi Arabia that rapper Nicki Minaj pulled out of citing human rights concerns. A cheering crowd danced to the thumping music at Jeddah World Fest, hosted in the Red Sea city of western Saudi Arabia. Such scenes, unimaginable
July 19, 2019 in Business News -
Rate cut should’ve been bolder to kickstart economy, property market
While welcoming the decision by the Monetary Policy Committee (MPC) of the Reserve Bank to cut the repo rate by 25 basis points to 6.50% (reducing the base mortgage lending rate to 10%), the bank should have been bolder and opted for a 50bps cut. At a time when the economy and property market are
July 19, 2019 in Property & Real Estate -
a complex history that’s seldom told
The problems of South Africa’s state owned enterprises are in the headlines every day. Yet many have existed for over 80 years. Eskom and Iscor were formed to feed the railway network’s need for cheap electricity and steel. Shutterstock Why were they established in the first place and how have they survived this long? Their
July 19, 2019 in Investments -
Reserve Bank cuts repo rate by 25 basis points
The Monetary Policy Committee (MPC) unanimously decided to reduce the repurchase rate by 25 basis points to 6.5% per annum, with effect from 19 July 2019. Lesetja Kganyago Asked about whether the central bank had considered a 50 basis point rate cut at the meeting, the newly reappointed governor, Lesetja Kganyago, said discussions in the
July 19, 2019 in Investments -
Nat Geo set to release film about Pope Francis’ visit to the UAE
A documentary film produced by National Geographic, which highlights the historic visit of Pope Francis to Abu Dhabi in February, will be distributed later this year. Interfaith leaders from Washington DC and the UAE gathered at the National Geographic headquarters earlier this week for an exclusive premiere of The Peace Visit, state news agency WAM
July 19, 2019 in Business News -
US Central Command chief vows to boost Gulf maritime security
US Central Command chief Kenneth McKenzie pledged Thursday to work “aggressively” to ensure maritime safety in strategic Gulf waters after a spate of attacks blamed on Iran. “We are currently talking with the international community about the importance of the right of freedom of navigation in the Middle East,” McKenzie told reporters at Prince Sultan
July 18, 2019 in Business News -
Successful investment is like a game of poker
Mastering your own behaviour is the secret to creating long-term wealth, given the extreme volatility of the markets in the past decade. And the number one skill that distinguishes average investors from those who are great, is humility, Maria Konnikova, psychologist, New York Times best-selling author, professional poker player and guest speaker at this year’s
July 18, 2019 in Investments -
3 steps towards “glass boxing” your company with a Biz Press Office
“In an age of radical transparency, your internal culture is your brand. Time to take action!” proclaims the headline from Trendwatching.com. The premise is that up until recently most business operated with a black box mentality, expecting outsiders to believe whatever branding the company chose to paint on the outside of the box. “Glass box”
July 18, 2019 in Property & Real Estate -
IMF says it cares about inequality. But will it change its ways?
The IMF headquarters in Washington DC. Shutterstock As lender of last resort, the IMF provides countries in economic turmoil with financial support. In return, borrowing countries must often commit to far-reaching policy reforms. While some view this so-called ‘conditionality’ as a necessary instrument to address the root causes of economic crisis, others point to its
July 18, 2019 in Investments -
UAE banking giant eyes removal of cap on foreign ownership limit
First Abu Dhabi Bank has proposed removing a cap on the foreign ownership limit in its sharers after the UAE started loosening rules to attract international investors. The board’s proposal is subject to the supervision of regulatory authorities and would require amendments to the current laws and policies, the nation’s biggest bank said in a
July 17, 2019 in Business News -
Manny Pacquiao’s camp denies deal done for Amir Khan fight in Saudi
Claims by British boxer Amir Khan that a fight has been agreed with Manny Pacquiao in Saudi Arabia in November appear premature at the very least, following comments from the Filipino fighter’s publicist. Khan announced on Tuesday that the bout in Riyadh on November 8, was “signed off and done”, following his stoppage win over
July 17, 2019 in Business News -
Amir Khan claims Manny Pacquiao has agreed Saudi Arabia bout
British boxer Amir Khan claims he has agreed a deal to fight Manny Pacquiao in Saudi Arabia in November. Khan won the WBC international welterweight title with a fourth round stoppage of Australian Billy Dib in Jeddah on Friday. Now the 32-year-old plans to return to Saudi Arabia on November 8 to face former sparring
July 16, 2019 in Business News -
Dubai’s Amlak said to be to restructuring $1.2bn with creditors
Amlak Finance is nearing a deal to restructure debt for a second time as the Dubai-based Islamic mortgage provider navigates an ongoing property slump, according to two people with knowledge of the plan. The company is asking creditors to reschedule repayments on $1.2 billion of loans over the originally agreed period that ends in 2026,
July 16, 2019 in Business News -
How place identity can help artisans survive in a globalised world
An artisan is working with a silk weaving loom in her workshop. Author provided This approach isn’t the unique domain of just a few firms, of course – it can be extended to those that are currently less known and in more peripheral places. An eloquent example is the Vietnamese town of Van Phuc, in
July 15, 2019 in Manufacturing -
GEMS granted ‘B’ rating by S&P, with a stable outlook
UAE-based GEMS Education has been granted a preliminary “B” rating by S&P Global Ratings, with a strong outlook bolstered by increasing capacity and its focus on affordable pricing, S&P has announced. In a statement, S&P noted that GEMS has Earnings before interest, tax, depreciation and amortization (EBITDA) margins of about 30 to 35 percent and
July 15, 2019 in Business News -
Why central banks need to take human rights more seriously
Many central banks are rethinking their approach to the environmental and social impact of their operations. This is because their decisions can affect access to housing, healthcare, education, work, to adequate food and water and the security of their pensions. The Central Bank of Kenya has financial inclusion in its stewardship of the financial system.
July 15, 2019 in Investments -
Better risk management needed in the manufacturing industry
With manufacturing focused intensively on innovation, combined with a reliance on connected networks and products, it is an industry that is highly vulnerable to cyber attacks. Yet, the manufacturing industry remains fragmented in its approach to managing cyber-related risks. Image supplied This is according to Charl Ueckermann, CEO at AVeS Cyber Security, who was on
July 15, 2019 in Manufacturing -
Airport task force recommends solution for disruptive drones
A task force of US airports and the civilian drone industry is recommending that the airborne devices be required to broadcast their identity to help prevent disruptions like those that shut down London’s Gatwick last year. The task force, established by the Airports Council International-North America and the Association for Unmanned Vehicle Systems International, called
July 14, 2019 in Business News -
$490m Abu Dhabi homes project for Emiratis revealed
The Abu Dhabi Housing Authority will develop an integrated housing complex at the cost of AED1.8 billion ($490 million) for Emiratis. The project in Al Falah, on the outskirts of the city, with 899 new residences is expected to be completed for delivery at the end of 2021, state news agency WAM reported. The authority
July 14, 2019 in Business News -
New homes revealed in Dubai’s Riviera-style coastal project
A new residential project has been revealed in Mina Rashid, the new Riviera-style coastal destination set in the historic port of Dubai. Seashore will feature a limited collection of 1, 2 and 3-bedroom apartments. Following its unveiling in May by Emaar and P&O Marinas, a subsidiary of global trade enabler DP World, Mina Rashid aims
July 13, 2019 in Business News -
Average Dubai property prices now nearly 30% lower than 2014 peak
Average Dubai property prices are now nearly 30 percent lower than their peak in mid-2014, according to new research. Real estate consulting firm ValuStrat said in a new report that citywide values in the second quarter of 2019 are 29.3 percent lower than five years ago when prices were at their highest. The Q2 ValuStrat
July 12, 2019 in Business News -
Funding – a key that opens many doors
In South Africa there are many initiatives to support entrepreneurial development from different educational, professional and business angles – and almost always one of the most pressing issues experienced by participants is that of financing. Annie McWalter, CEO of SAICA Enterprise Development, addresses this issue. It is a topic covered at business schools, in boardrooms
July 12, 2019 in Venture Capital -
Saudi Arabia said to plan relaxation of male guardianship laws
Saudi Arabia is reportedly planning to relax its male guardianship laws to allow women to travel without requiring permission. The move would end guardianship laws pertaining to travel for men and women over 18 years old, allowing them to leave the country without the consent of a designated male family member, the Wall Street Journal
July 12, 2019 in Business News -
World’s largest single-site solar project begins commercial operations
Abu Dhabi’s new solar plant project has recently started its commercial operations as scheduled at Sweihan in Abu Dhabi. The Noor Abu Dhabi Solar Plant was jointly developed by the Japan’s Marubeni Corporation and Emirates Water and Electricity Company (EWEC). Image source: Gallo/Getty Envisioned as a long-term energy strategy targeting 2050, the project will have
July 12, 2019 in Energy -
Revealed: the UAE gov’t fees that have been reduced or cancelled
The UAE’s Ministry of Finance revealed on Thursday that over 1,500 federal government services fees will either be reduced or cancelled. The announcement follows a Cabinet decision issued on the reduction and cancellation of fees for the services of some federal entities, which took effect on July 1. Certain fees have been reduced by up
July 11, 2019 in Business News -
Two new deputy governors appointed to Reserve Bank
President Cyril Ramaphosa has appointed Fundi Tshazibana and Dr Rashad Cassim as deputy governors of the Reserve Bank. The appointments address two vacancies that had arisen as a result of the resignation in January 2019 of Deputy Governor Francois Groepe and the expiry of Deputy Governor Daniel Mminele’s term at the end of June 2019.
July 11, 2019 in Investments -
Aldar Properties to develop $1.3bn worth of projects in Abu Dhabi
Abu Dhabi’s Aldar Properties is set to appoint contractors to develop $1.3 billion (AED5bn) worth of social, economic and infrastructure projects in three areas of the emirate. Appointed by the Abu Dhabi government, Aldar will develop residential communities and commercial destinations in Al Falah and on both Saadiyat Island and Yas Island. Aldar will complete the remaining
July 11, 2019 in Business News -
What the African Continental Free Trade Area Agreement means for the continent
The operational phase of the African Continental Free Trade Area agreement (AfCFTA) was officially launched at the African Union (AU) summit in Niger in early July. Nigeria and Benin became signatories to the agreement, bringing the number of signatories to 54 out of 55, with only Eritrea still to join. Image: Ghana Business News The
July 10, 2019 in Investments -
Abu Dhabi Fund to buy 30% of UK appliance warranty provider
Domestic & General Group has about 16 million customers globally, with a presence in 11 countries including the UK, Spain, Germany, France and Australia The transaction values Domestic & General, which is used by one-third of UK households, at just over 1 billion pounds ($1.25 billion), people with knowledge of the matter said. Abu Dhabi’s
July 10, 2019 in Business News -
Boeing reports lower Q2 deliveries amid 737 MAX crisis
Boeing reported a sharp drop in second-quarter commercial plane deliveries on Tuesday as the grounding of 737 MAX planes weighs on profits. Boeing, which has halted deliveries of the top-selling plane since mid-March, reported 90 deliveries in the quarter ending June, down from 194 in the year-ago period, a decline of 54 percent, with a
July 9, 2019 in Business News -
How can we fix the South African economy and create jobs?
President Cyril Ramaphosa’s post-election State of the Nation Address was criticised as being heavy on dreams and light on the practicalities of delivering on his rallying cry of economic rejuvenation and jobs for the millions of South Africans who areunemployed. So just what should he be doing to get South Africa back on a growth
July 9, 2019 in Investments -
Nurmagomedov to face Poirier in Abu Dhabi’s third UFC event on September 7
UFC lightweight champion Khabib Nurmagomedov is expecting to seal his legacy against interim lightweight champion Dustin Poirier on September at The Arena in Abu Dhabi. The two men will contest a title unification bout at UFC 242, Abu Dhabi’s third UFC event and the first since the UFC and the Department of Culture and Tourism
July 9, 2019 in Business News -
DIFC Authority adds key hires amid expansion, fintech plans
Dubai International Financial Centre (DIFC) Authority, the entity responsible for the operations and management of the emirate’s $424 billion financial hub, has strengthened its leadership team. The authority said it has made a number of appointments and promotions of UAE nationals to spearhead key initiatives that support the DIFC’s vision to further enable financial technology
July 8, 2019 in Business News -
Saudi budget carrier Flyadeal drops $5.9bn Boeing Max deal
Saudi Arabian budget carrier Flyadeal reversed a commitment to buy as many as 50 Boeing Co. 737 Max jets, becoming the first airline to officially drop the plane since its grounding following two deadly crashes. Flyadeal will operate an entirely Airbus SE fleet, the company said Sunday in a statement, buying as many as 50
July 7, 2019 in Business News -
Kuwait cleared to compete in 2020 Olympics after IOC lifts suspension
Kuwait has been cleared to compete in the 2020 Olympics after the International Olympic Committee (IOC) announced on Friday it was lifting the suspension it imposed on the Kuwait Olympic Committee (KOC) four years ago. In a statement, the IOC said the KOC had successfully implemented “a roadmap agreed between all parties”. The announcement comes
July 7, 2019 in Business News -
Dubai’s Hatta among world’s most Instagrammed road trips, report
Dubai’s mountainous district and popular tourist destination Hatta is among the world’s most Instagrammed in terms of road trips, according to a report by UAE-based Wecashanycar. The company, which was acquired by Dubizzle, provides on-site car valuations to help customers sell their vehicles at a suitable price. It analysed over 12 million Instagram posts using #roadtrip
July 6, 2019 in Business News -
Launch of UAE satellite Falcon Eye 1 delayed by bad weather
The launch of the UAE’s satellite Falcon Eye 1 has been delayed due to bad weather conditions over the French Guiana Space Centre on the north Atlantic coast of South America. The launch has been put back from its initial Saturday slot until Monday July 8 at 5.53.03am UAE time, state news agency WAM reported
July 5, 2019 in Business News -
6 key non-financial factors driving SA’s office leases today
With South African businesses and the real estate sector operating in a low growth economic environment, the commercial office market is decidedly fragile. Over the past several years, there has been a marked slowdown in demand for office space by multinational enterprises and local companies – which appears to be continuing in 2019. Ruan Zellbren-Adlam
July 5, 2019 in Property & Real Estate -
Coronation shines light on unseen spending this Savings Month
To mark National Savings Month this July, Coronation is on a mission to inspire South Africans to scrutinise their saving and spending habits and shine a light on the unseen ways in which we are unnecessarily spending money that could rather be invested for growth. “We are constantly bombarded with advertising messages telling us how
July 5, 2019 in Investments -
Ericsson to build its first fully-automated smart factory
Ericsson is set to build its first fully-automated smart factory in the U.S., expected to be up and running in early 2020. The factory will produce the company’s Advanced Antenna System radios which will be used to boost network capacity, and rural coverage for 4G and 5G mobile network deployments. Ericsson says that the creation
July 5, 2019 in Manufacturing -
The biggest factors influencing industrial cleaning
The world is constantly in flux – what’s the standard today may not be so by tomorrow. And while being trendy may seem superficial at first, ensuring that your business follows suit with the rest of world is crucial, especially in an industry like industrial cleaning. Industrial cleaning is a large industry with extensive demands.
July 5, 2019 in Manufacturing -
Joss Stone deported from Iran ahead of 200th world tour gig
British singer Joss Stone said she was “gutted” after being deported from Iran ahead of the latest leg of a world tour that has already taken her to Syria and North Korea. She was held shortly after arriving at Kish airport, according to a post on her Instagram account, as authorities suspected she was planning
July 5, 2019 in Business News -
Report notes no significant changes in levels of transformation
Image source: Getty/Gallo “This year’s report shows no significant change in the levels of transformation with black ownership reflecting a decline to 25.2% black ownership from 27% in 2017 and management control still sitting at 38% for black people,” said the commission. Section 13G of the Act makes it compulsory for all JSE listed entities,
July 5, 2019 in Investments -
Arla Foods inks deal to use Kraft brand in Middle East markets
Arla Foods has signed an agreement for a licence to use the Kraft brand for the next 12 years in the Middle East on the cheese portfolio recently acquired from Mondelez International. The markets covered by the licence agreement include Bahrain, Iraq, Israel, Jordan, Kuwait, Lebanon, Libya, Mauritius, Oman, Palestine, Qatar, Saudi Arabia, Syria, UAE,
July 4, 2019 in Business News -
MSCI Green Annual Property Index reveals higher return in case of green-certified properties
Released in conjunction with the Green Building Council South Africa (GBCSA) and sponsored by Growthpoint Properties, the MSCI South Africa Green Annual Property Index measures investment returns for a total of 317 prime and A-grade offices (R54.5bn capital value), and compares the returns of 96 green-certified buildings (R21.8bn capital value) to the return of the
July 4, 2019 in Property & Real Estate -
Beyond the Grid Fund for Zambia wins 2019 Ashden Award
The Sweden-funded Beyond the Grid Fund for Zambia (BGFZ) programme has won the 2019 Ashden Award in the category of Innovative Finance. Designed and implemented by REEEP, BGFZ has been recognised for its use of an innovative financing mechanism to kick-start a market for affordable off-grid energy services in Zambia. Steven Miyoba shows off the
July 4, 2019 in Energy -
Trump’s about face on China. What it means for SA
The simmering US China trade war is constantly in the world’s news headlines, with President Donald Trump’s surprise turnaround this weekend after discussions with Chinese President Xi Jinping at the G20, in which he allowed US technology companies to supply Huawei, and agreed not to add additional tariffs for the “time being”. The relationship between
July 4, 2019 in Investments -
Evolution of ANC economic policy sheds light on squabble over the central bank
Debate about SA Reserve Bank’s mandate must be done in a more considered manner, informed by evidence. Shutterstock The ANC has been largely clear on values and principles (non-racial, democratic, state led, re-distributive) that inform economic policy but short on specific details of what strategies could achieve these. This may have served the ANC well
July 4, 2019 in Investments -
Boeing to give $100m to 737 Max crash victims’ families, communities
US aircraft manufacturer describes pay-out as an ‘initial investment’ over multiple years A piece of the fuselage of ET Flight 302 can be seen in the foreground as local residents collect debris at the scene where Ethiopian Airlines Flight 302 crashed . (Photo by Jemal Countess/Getty Images) Boeing announced Wednesday it would give $100 million
July 4, 2019 in Business News -
Sars to host roadshows to discuss new customs legislation
On 1 July 2019, in communication addressed to external stakeholders, the South African Revenue Service (Sars) confirmed that it would be embarking on roadshows to discuss the new customs legislation, from 22 July to 1 August 2019. The roadshows are intended to allow for presentations and question sessions focused on the new Registration, Licensing and
July 3, 2019 in Investments -
Bahrain expat broadcasts his suicide live on Facebook
The Bangladeshi embassy in Bahrain has boosted its counselling support services following a number of suicides in the kingdom, including one real estate agent who broadcast his suicide live in Facebook. The Gulf Daily News (GDN) website reported 23 people had taken their own lives in Bahrain so far this year, 21 of whom were
July 3, 2019 in Business News -
Alternative investments offer better returns
Alternative investment can offer better returns at lower risk by introducing greater choice to a client’s portfolio than traditional asset classes. Gavin Ralston, head of official institutions and thought leadership at Schroders “Investing in alternative asset classes is not easy – it will take a great deal of work to make appropriate solutions widely available
July 3, 2019 in Investments -
Retire all existing and planned fossil fuel power plants to limit warming to 1.5°C
A worker makes coal chips for combustion in Calcutta. India’s demand for energy is growing fast. EPA/PIYAL ADHIKARY If the Earth warms by more than 1.5°C, millions of people could be displaced by sea level rise and global crop yields could decline. Fortunately, political will to prevent this seems more widespread than ever. The UK
July 3, 2019 in Investments -
UAE approves sectors eligible for 100% foreign ownership
The UAE Cabinet, chaired by Sheikh Mohammed bin Rashid Al Maktoum, Vice President, Prime Minister and Ruler of Dubai, has approved the sectors and economic activities eligible for up to 100 percent foreign ownership. The decision aims to support the growth environment and to reaffirm UAE’s position on the global arena as a hub for
July 2, 2019 in Business News -
Libra, Iran and the potential end of cryptocurrencies as we know them
Wit Olszewski / Shutterstock Of course, the price of Bitcoin is known to rise and fall sharply on a fairly regular basis. Yet there is no doubt that having one of the world’s largest and most influential corporations throwing its weight behind the technology will calm nerves and build confidence. More importantly, it gives legitimacy
July 2, 2019 in Investments -
SA’s green tech startups rebooting the green economy
Terry Billson, CEO, Genergy While we are playing catch-up to our developed and developing counterparts, the survey pegged the take up of green building to grow three-fold, from a measured 16% in 2012 to 52% in 2018. A total of 60% of firms in the survey reported future green commercial developments by 2018, while retrofits
July 2, 2019 in Energy -
Growthpoint Investec African Properties kickstarts Africa acquisitions
A joint venture between Growthpoint Properties and Investec Asset Management, Growthpoint Investec African Properties (GIAP) has begun executing on its strategy to aggregate a portfolio of prime income-producing commercial assets in select cities across Africa. The pan-African real estate investment business, managed by Growthpoint Investec African Property Management, recently announced that it has successfully concluded
July 2, 2019 in Property & Real Estate -
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404 Sorry, we couldn’t find the page you were looking for. Would you like to go back to the home page, or search for it? Did you mean? Interview: Kylie Jenner’s expansion plans in the Middle East (OR) RelevancyDate Search Source link
July 2, 2019 in Business News -
Quick-fix solutions to Zimbabwe’s huge electricity crisis
Aerial view of Kariba dam. Dmitriy Kandinskiy/Shutterstock What are the main challenges facing Zimbabwe’s energy system? Zimbabwe has a severe energy crisis because its major sources of electricity are struggling to keep up with demand. Kariba power plant dam – where Zimbabwe gets 57% of its electricity – has low water levels due to poor
July 2, 2019 in Energy -
Saudi’s Amaala resort will have ‘its own regulatory structure’, target UHNWIs: PIF
One of Saudi Arabia’s largest tourism projects, the Amaala resort in the Prince Mohammed bin Salman Nature Reserve, will have its own regulatory structure, will target ultra-high net worth individuals (UHNWIs), and will be geared towards becoming a transformative and unique uber luxury tourism destination dubbed the ‘Riviera of the Middle East’, according to the
July 1, 2019 in Business News -
Faris Saeed: The man who built utopia
Diamond Developers, like many companies of its type, enjoyed high-profile successes at the peak of Dubai’s real estate boom. It was one of the first companies in Dubai to enter the freehold property and real estate development industry when the emirate introduced freehold property ownership in 2002, and completed numerous residential and commercial projects including
June 30, 2019 in Business News -
Oman appoints lawyers to defend bus driver in Dubai crash case
Two lawyers have been appointed to defend the Omani bus driver in the Mwasalat Dubai death crash which killed 17 people. A statement from the Oman Embassy in the UAE said: “Referring to what has been circulated in social media, regarding the bus driver’s brother’s appeal for help, the embassy has appointed a lawyer to
June 30, 2019 in Business News -
UAE to cement new global status in 2020, says Sheikh Mohammed
Sheikh Mohammed bin Rashid Al Maktoum, Vice President, Prime Minister and Ruler of Dubai on Saturday launched plans to hold the next edition of the World Government Summit at Expo 2020 Dubai. The World Government Summit – Expo 2020 will be the biggest gathering yet since its inception with an expected attendance of over 10,000
June 29, 2019 in Business News -
Dubai’s Danube Group launches $5m hospitality venture
Danube Group has launched Danube Hospitality Solutions, a $5 million arm that will cater to the growing hospitality needs of the region. The new venture has partnered with 18 brands from seven factories around the world to supply, apply, design, redesign, refurbish and offer consultancy services within the hospitality industry. Brands include William Edwards, Milano,
June 29, 2019 in Business News -
OPEC faces output balancing act over US-Iran crisis
OPEC is on red alert over escalating US-Iran tensions that fuelled strong oil-price gains – but the cartel and other crude-producing nations are unlikely to end output cuts at a meeting Tuesday. The Organization of the Petroleum Exporting Countries, a cartel of 14 countries pumping one third of the world’s oil, is acutely aware that
June 28, 2019 in Business News -
Policy uncertainty depreciated rand in first quarter
The rand depreciated in the aftermath of the national elections due to policy uncertainty and the larger-than-expected contraction in the domestic economy in the first quarter of 2019, a South African Reserve Bank (Sarb) Quarterly Bulletin has noted. The rand depreciated in the aftermath of the national elections due to policy uncertainty and the larger-than-expected
June 28, 2019 in Investments -
Emirates NBD said to win key approval for Turkish bank deal
Emirates NBD has received a key regulatory approval taking Dubai’s biggest lender a step closer to completing its purchase of Turkey’s Denizbank, two people with knowledge of the matter said. Emirates NBD got approval from the United Arab Emirates central bank, but still needs Turkey’s banking regulator to approve before the acquisition from Russia’s Sberbank
June 27, 2019 in Business News -
New economy rising – are we ready?
The one sure thing in the world’s economies today is that problems are getting broader, deeper, more significant and will become more prevalent. The question is, are we equipped to navigate the new problem-driven paradigm? Pavlo Phitidis, entrepreneur and co-founder of the Aurik Business Accelerator A new economy is rising. We need to acknowledge this
June 27, 2019 in Investments -
UAE extends long-term visas to high earning execs
The UAE has said foreign executive directors will be eligible for long-term residency permits if they earn a monthly salary of AED30,000 ($8,200), in a sign the Gulf nation is easing regulations to ensure sustained growth in the economy. Applicants will also need a bachelor’s degree and no less than five years of work experience
June 27, 2019 in Business News -
UAE’s VAT revenues exceeded expectations in 2018, says Moody’s
The UAE’s collection of value-added tax exceeded original estimates, according to a report from Moody’s credit rating agency. “The government’s 2018 and 2019 VAT revenue forecasts had included conservative assumptions regarding the level of compliance in the initial years of implementation,” Moody’s analyst Thaddeus Best said in the report. “Nonetheless, the robust level of compliance
June 26, 2019 in Business News -
Bitcoin is on the up again. Here’s why
The price of Bitcoin has increased 42% over the last month, and 187% in three months. Along with Ethereum, the cryptocurrency’s prices have risen significantly since the end of March and there was another rally this weekend. Image source: Getty/Gallo We are more interested, though, in the long-term potential of Bitcoin forming the backbone of
June 26, 2019 in Investments -
SEZ could revive manufacturing capacity in Vaal Triangle
An important attribute that South Africa can take away from the success of Special Economic Zones (SEZ) at a global level is the importance of collaboration between key public and private stakeholders to attract Foreign Direct Investment (FDI), boost economic growth and industrialisation. Although growth has been subdued for several years, there is still potential
June 26, 2019 in Manufacturing -
EPP, Henderson Park form joint property venture
JSE-listed Polish property company EPP and pan-European private equity real estate platform Henderson Park have formed a new joint venture which sees Henderson Park acquire a 70% interest in a portfolio of 11 office buildings from EPP. EPP will retain the remaining 30% stake in the portfolio and continue to manage the assets in partnership
June 26, 2019 in Property & Real Estate -
Netherlands to showcase water from air tech at Expo 2020 Dubai
The Netherlands has started construction of its Expo 2020 Dubai pavilion, the Dutch Consulate has announced. The pavilion will feature a biotope, designed by V8 Architects, which connects water, energy and food in a circular way. The production of water from desert air powered by solar power is one of the inventions that will be
June 25, 2019 in Business News -
What’s really driving oil market volatility?
With the 13 June attacks on two oil tankers near the Strait of Hormuz-a vital Gulf of Oman waterway-investors may be wondering if these types of disruptions could derail the global oil market. That’s understandable considering about 40% of the world’s traded oil passes through the strait. Image source: Getty/Gallo In our view, it’s challenging
June 25, 2019 in Investments -
Diamonds add sparkle to the Botswana economy
Botswana is reaping the rewards of decades of successfully managing its diamond sector to become one of the fastest growing economies in Africa. Okavango Blue diamond “Transparency and good governance must continue to be a guiding value of corporate behaviour in order to earn the trust and respect of our current and future consumers,” says
June 25, 2019 in Investments -
Lebanon’s debt fix now hinges on central bank after lenders balk
Lebanese lenders are turning against a government plan to coax them into buying Treasury bonds at lower interest rates, leaving the central bank to go it alone as regional turmoil and budget delays keep the market on edge. Finance Minister Ali Hassan Khalil said in May that the government wanted to issue 11 trillion pounds
June 25, 2019 in Business News -
Ramaphosa shows that he’s in control. But does he have what it takes to win?
South African President Cyril Ramaphosa delivering his third state of the nation address. EPA-EFE/Roger Bosch / Pool Much of the public commentary on these addresses past and present is ill-informed and, more importantly, ill-conceived. The State of the Nation Address should not be a dreary laundry list of everything the government intends to do. Those
June 25, 2019 in Investments -
Gulf oil shipments now cost more than $500,000 to insure
The cost of insuring Middle East oil shipments is soaring as tensions mount in a region responsible for about a third of all seaborne petroleum. So-called war risk premiums for a standard oil cargo from the Gulf and the tanker hauling it can now cost upwards of $500,000, according to people familiar with the insurance
June 24, 2019 in Business News -
Why credit rating agencies are still getting away with bad behaviour
Rating agencies have been at the centre of major financial crises. Shutterstock Rating agencies are meant to give comfort about an issuer’s ability to repay debt. Ratings are essential in determining the level of interest rate that a borrower must pay. Inaccurate ratings therefore distort both the prices of debt instruments and the interest rates
June 24, 2019 in Investments -
JIT manufacturing at the core of an optimised FMCG supply chain
The ability to manufacture ‘just enough’ stock to cover orders and deliver ‘just enough’ product to every retailer is the optimal supply chain scenario in the fast-moving consumer goods (FMCG) industry. This is known as Just in Time (JIT) manufacturing and delivery. However, while there are many benefits to this type of hyper-optimised supply chain,
June 24, 2019 in Manufacturing -
Equites Property Fund listing on A2X approved
Equites Property Fund Limited shares will be available for trade on A2X Markets from 1 July this year following its listing on the exchange. Equites, with a market cap of over R10bn, retains its listing on the JSE and its issued share capital will be unaffected by this secondary listing. Andrea Taverna-Turisan, CEO, Equites Andrea
June 24, 2019 in Property & Real Estate -
US rate cuts set to impact Saudi and UAE bank revenues
Currencies in Saudi Arabia and the UAE are pegged to the dollar, and the two countries usually follow interest rate changes made by the US Federal Reserve Loans make up more than 70% of Gulf banks’ earnings assets that are largely floating-rate corporate facilities, and changes in interest rates have a huge impact on income
June 24, 2019 in Business News -
Apple recalls Macbook Pros over battery fire risk
Apple has recalled a number of its older generation MacBook Pro because their batteries may overheat and “pose a fire safety risk.” The recall affects 15-inch MacBook Pros with Retina displays sold between September 2015 and February 2017, the company said, adding it would replace batteries free of charge. A number of countries are covered
June 23, 2019 in Business News -
More women to be elected to Federal National Council under new ruling
UAE President Sheikh Khalifa bin Zayed Al Nahyan has issued a resolution to raise women’s representation in the Federal National Council (FNC) to 50 percent. Issued in the run-up to the fourth cycle of FNC elections that are scheduled to take place in October, the resolution modifies certain provisions of the Federal Supreme Council Resolution
June 22, 2019 in Business News -
Ayman Hariri, Mohamed Hadid among Arabian Business London Award winners
Lebanese businessman Ayman Hariri, the son of the late Rafik Hariri, former prime minister of Lebanon, and the brother of Saad Hariri, Lebanon’s current leader, was one of the top award winners at the first-ever Arabian Business London Awards, which were held at a prestigious gala reception at 8, Northumberland Avenue in central London on
June 22, 2019 in Business News -
Gold price hits near-six year high, breaks $1,400 barrier
Gold prices broke $1,400 an ounce to hit a near-six-year high on Friday as the weaker dollar, economic concerns and geopolitical tensions saw investors pile into the safe-haven commodity. Demand surged after the Federal Reserve on Wednesday indicated it would likely cut interest rates soon — for the first time in a decade — which
June 21, 2019 in Business News -
Dubai’s Nakheel in talks to explore Vietnam real estate potential
Madame Dang Thi Ngoc Thinh, Vice President of Vietnam, meets with Nakheel chairman to explore long term collaboration for real estate development Nakheel is looking to build on the efforts on its sister company Liimitless which is already developing the AED2 billion Halong Star mixed-use project in Vietnam. Dubai master developer Nakheel has held talks
June 20, 2019 in Business News -
NEPI Rockcastle lists on A2X
NEPI Rockcastle listed on the A2X Markets stock exchange earlier this week with its shares now available for trade. It retains its listings on the JSE and Euronext Amsterdam and its issued share capital will be unaffected by its listing on A2X. There is no cost, risk, or additional regulatory compliance as a result of
June 20, 2019 in Investments -
Abu Dhabi police smash huge drugs network
423kg of heroin and crystal meth seized, as well as 500,000 captagon tablets, in the largest ever anti-drug operation in the UAE Abu Dhabi Police have confiscated 423kg of heroin and crystal meth hidden in vehicle spare parts, as well as 500,000 captagon tablets. Abu Dhabi Police have confiscated 423kg of heroin and crystal meth
June 20, 2019 in Business News -
People have skewed views on inflation. Why this matters
The price of bread has been one of the drivers of inflation in South Africa. Shutterstock South Africa is a case in point. The country has an inflation target of 3% to 6% per annum, with a particular focus on the midpoint of 4.5% and keeping inflation at that level. The point of having an
June 20, 2019 in Investments -
Pop-up pavilion to tour the UAE to give Expo 2020 Dubai teaser
An interactive pop-up pavilion is touring the UAE to give people a glimpse of what to expect from the region’s first ever World Expo. Visitors can interact with the pop-up pavilion, which is currently near the waterfall at Dubai Mall until July 13. When you say the Emirati greeting ‘hayyakum’, the pavilion reacts, triggering an
June 19, 2019 in Business News -
Coronation CEO invites young people to have their say this Youth Month
To mark Youth Month and recognise the importance of tapping into the powerful insights of South Africa’s youth, Coronation Fund Managers invited 35 finance and business university students to its Cape Town offices for an interactive discussion session with CEO Anton Pillay. Students from the University of the Western Cape and the University of Cape
June 19, 2019 in Investments -
Where are SOEs getting it wrong?
In South Africa, a state-owned company is defined as an enterprise that is registered in terms of the Companies Act, 2008 (the Act) read with Public Finance Management Act (PFMA), commonly known as State Owned Enterprises (SOEs or parastatals). The South African Government is a shareholder and exercises oversight responsibility. SOEs play a pivotal role
June 19, 2019 in Investments -
The good, the bad and the ugly of short selling
The short sale reporting and disclosure framework proposed by the Financial Sector Conduct Authority (FSCA) intends to tighten the regulations around short selling in South Africa. However, Jessica Ground, head of sustainability at Schroders,it is a few types of practitioners, rather than the practice of short selling that can be unethical. Jessica Ground, head of
June 19, 2019 in Investments -
Moody’s warns of ‘funding squeeze’ in Oman
Growth in Oman’s bank deposits is expected to lag in the next 12 to 18 months as lower oil prices constrain government finances, according to Moody’s Investors Service. The sultanate, where the public sector makes up more than a third of all deposits – the highest share in the Gulf – will probably face a
June 19, 2019 in Business News -
Dubai rival to Airbnb seeks growth after securing new funding
GuestReady Group, a short-term rental management company, has raised an additional AED22 million in funding, bringing the total funds raised to AED35 million. The round was led by Dubai-based VentureSouq, and funds will be used to invest in product development and to fuel growth across GCC, Europe and Asia. Airbnb, Co-Living, Housing-As-A-Service, and proptech have
June 18, 2019 in Business News -
Uptick in semigration, tourism to boost Cape rental market
According to the Seeff Property Group, it is not just the demand for residential accommodation that drives the Cape Town rental market, but added economic drivers such as tourism, conventions and events, corporate contracts and semigration. Cape Town has just been voted among the best cities in the world to live in the world by
June 18, 2019 in Property & Real Estate -
Former Egypt president Mohamed Morsi dies
Former Egyptian president Mohamed Morsi died on Monday in a Cairo hospital after fainting during a session in court, judicial and security sources said. “He was speaking before the judge for 20 minutes then became very animated and fainted. He was quickly rushed to the hospital where he later died,” a judicial source said. Turkish
June 17, 2019 in Business News -
Better Homes’ Linda Mahoney honoured with Arabian Business Real Estate Legend Award 2019
Better Homes’ chairperson and founder Linda Mahoney led the winners at the prestigious Arabian Business Real Estate Awards held in Dubai on Sunday night, taking home the Legend Award 2019. The gala event, which took place at the Le Royal Meridien Beach and Resort & Spa, honoured Mahoney’s more than three decades of dedication and
June 17, 2019 in Business News -
Discounts of up to 75% on opening day of Dubai Summer Surprises
The opening day this year’s Dubai Summer Surprises on June 21 will see outlets offerings discounts of up to 90 percent, according to the Dubai Festivals and Retail Establishment. In an interview with Gulf News, Sahaila Saqer Obaid Ghubash, the DFRE’s director of festivals and events, said that the event is likely to increase consumer
June 16, 2019 in Business News -
Abu Dhabi launches new ‘smart’ driving test project
Abu Dhabi Police has launched a new era in driving test systems, using smart vehicles that use artificial intelligence to monitor and evaluate the driver’s performance. The General Command of Abu Dhabi Police has unveiled the Smart Driving Test Project as part of its efforts to adopt the latest technologies, state news agency WAM reported.
June 15, 2019 in Business News -
Elena Ford: driven to succeed
Being an heiress can be a tough role to juggle: It gives you a platform, such as Abigail Disney’s recent testimony on Washington, DC’s Capitol Hill about workers’ rights and low pay, in which she was controversially lashing out at the fact that the entertainment giant her grandfather co-founded was paying its CEO a salary
June 15, 2019 in Business News -
Saudi Arabia repatriates Sri Lankans in connection with Easter attacks
Five Sri Lankans wanted in connection with the Easter bombings that killed 258 people were arrested in Saudi Arabia and repatriated Friday, police said. Correcting his earlier statement that the men were seized in Dubai, police spokesman Ruwan Gunasekera said the suspects were taken into custody in the Saudi city of Jeddah. Among them was
June 14, 2019 in Business News -
Ramaphosa’s critical choices to get South Africa back on track
South Africa has seen a steady rise in the number of protests Shutterstock Considered in conjunction with the country’s dismal education outcomes, which the IMF found are perpetuating inequality and contributing to the country’s low economic growth, and the possibility of a ratings downgrade, the outlook isn’t auspicious. Academics and political leaders have long warned
June 14, 2019 in Investments -
Flat prices, more stock and potential rate cut ahead
The news that the economy contracted by 3.2% in the first quarter and that the GDP growth outlook for the year has been adjusted to 1% by the Reserve Bank and Moody’s is not what we had wanted to hear right now. It means that the property market will remain weighted by the economic conditions
June 14, 2019 in Property & Real Estate -
US blames Iran for oil tanker attacks as Gulf tensions climb
The Trump administration blamed Iran for attacks on two oil tankers near the entrance to the Gulf, escalating tensions between the two rivals despite denials from officials in Tehran that they were behind the incidents. “The United States will defend its forces, interests and stand with our partners and allies to safeguard global commerce and
June 14, 2019 in Business News -
Power projects need a clear regulatory framework and stable environment
A clear, predictable and supportive regulatory framework backed by a stable investment environment will be key to attract investors and funders to renewable energy and power projects, according to Bhavtik Vallabhjee, Absa head: power, utilities and infrastructure. Bhavtik Vallabhjee Other important considerations are a viable tariff which provides an equitable return on investment commensurate with
June 13, 2019 in Investments -
Dubai Police slams GEMS school over lockdown ‘incident’
Dubai Police has criticised the management at GEMS Wellington Academy after the school was thrown into lockdown on Wednesday. Authorities confirmed a woman in her 30s, performing a ‘suspicious activity’, caused the drama at the Al Khail Road school on Wednesday morning. But police later said that she was a parent who entered the school
June 13, 2019 in Business News -
Broll, Cushman & Wakefield enter Africa affiliation partnership
The Broll Property Group and Cushman & Wakefield have entered into an exclusive affiliation arrangement, branded Cushman & Wakefield Broll, covering the Sub-Saharan Africa region. The partnership combines Broll’s operations in occupier services across Africa with Cushman & Wakefield’s global reach. Malcolm Horne, CEO of Broll Property Group, said: “We are very excited about launching
June 13, 2019 in Property & Real Estate -
Seychelles floating solar energy project moves into next phase
Africa’s first utility-scale, private-sector funded floating solar project is continuing in the Seychelles on to its next implementation phase. The project, launched by the Seychelles Ministry of Environment, Energy and Climate Change and the Seychelles Energy Commission, is being implemented by the Government of Seychelles and the Public Utilities Corporation with the support of the
June 13, 2019 in Energy -
Gen-Z really loves property, wants to own before 30
It’s Youth Month, when SA focuses on the 38% of the population aged between 18 and 35. But there are two distinct generations of consumers represented within that cohort, and they have very different ideas about real estate. Image source: Gallo/Getty Generation-Z, born between 1995 and about 2010, are the world’s “digital natives” who have
June 13, 2019 in Property & Real Estate -
One big property vs multiple smaller properties
One of the questions most frequently asked of Rowan Alexander, director of Alexander Swart Property, is whether it is wiser for buy-to-let investors to invest in a single upper price level property or multiple smaller properties. “The first point to make,” says Alexander “is that anybody who simply advocates one or other of the investment
June 13, 2019 in Property & Real Estate -
Saudi Aramco to peel back financial veil with August earnings call
Now that Saudi Aramco has revealed itself as the world’s most profitable company, it’s preparing to host its first earnings call in August to discuss half-yearly results. The world’s biggest crude exporter rolled back decades of secrecy over its business when it revealed an independent audit of its oil reserves in January and in April
June 12, 2019 in Business News -
Enterprise applications are core to the renewal of South Africa’s energy sector
New trends in energy storage, small-scale embedded generation, and smart grid systems are disrupting the power sector, a trend that will accelerate in South Africa with the recent lifting of licence restraints on power plants. Mohamed Cassoojee This, along with the planned unbundling of Eskom and licencing of more independent power producers, will move us
June 12, 2019 in Investments -
Dubai’s non-oil foreign trade rises to $92.2bn in Q1
Dubai recorded a non-oil foreign trade of AED339 billion ($92.2 billion) in the first quarter of 2019, up seven percent compared to the same period last year. Exports registered the most growth, rising 30 percent to reach AED42 billion while re-exports grew seven percent to AED106 billion and imports went up by four percent to
June 12, 2019 in Business News -
Africa’s energy landscape transitions to base load-capable renewables
The advent of renewables, new storage technologies present Africa’s utilities with an opportunity to increase capacity and efficiency while re-kindling their appeal to investors. Stephen Barnes There has been a clear and rapid evolution in Africa’s energy and energy infrastructure landscape over the last decade. While much of this new technology has challenged the traditional
June 11, 2019 in Investments -
CEOs rewrite the rulebook in pursuit of growth
CEOs are faced with a stark choice. In the face of unparalleled environmental, economic and technological change, they are looking to grow their businesses by creating the organisational agility to disrupt existing business models and challenge long-held market orthodoxies. Image source: Getty/Gallo According to the fifth KPMG International Global CEO Outlook, just over half of
June 11, 2019 in Investments -
What to look out for
Wealth creation is elusive when one earner supports many – this is the current dilemma faced by many young black South Africans when it comes to black tax, a term coined by many to define financial support to extended family within black communities. John Manyike “Whilst the efforts made through black tax benefit individuals and
June 11, 2019 in Investments -
Dubai rare coins firm plans IPO in Stockholm
Numisbing, a Dubai-based numismatics and arts company, is planning to IPO on Nasdaq First North Stock Exchange in Stockholm, Sweden, next month. The company, valued at AED100 million with 75 percent regional market share, will be the first numismatic company from the Middle East to be listed on any stock exchange. Numismatics is the collection
June 11, 2019 in Business News -
Dubai Tourism targets increased visitors from Saudi Arabia
Dubai Tourism has partnered with Seera to strengthen travel ties with Saudi Arabia. Under the agreement, Almosafer, Seera’s consumer travel brand, will promote Dubai to Saudi travellers, with customers able to book itineraries online and offline. A previous partnership between the two recorded more than 100,000 bookings from Saudi Arabian travellers to Dubai in 2018.
June 10, 2019 in Business News -
GDP horror show
Unfortunately, it seems that in terms of economic data, South Africa’s 2019 film has begun in much the same vein as 2018, and could easily be classified within the “horror” genre given heightened fears that South Africa could once again enter a technical recession in the first half of the year. Maarten Ackerman According to
June 10, 2019 in Investments -
Creating a decentralised power generation model
It’s time to relook at how energy is supplied in South Africa and to evolve and adapt the country’s outdated system. To shift away from a centralised monopoly to a more efficient decentralised generation model will increase competition and drive down energy prices, which will ultimately stimulate the economy and support the growth that the
June 10, 2019 in Energy -
Sheikh Zayed Grand Mosque welcomes thousands during Eid al-Fitr
Visitors and worshippers flock to international cultural destination in Abu Dhabi During the tours on Eid al-Fitr holidays, guides from the mosque explained the history of the occasion and its importance to the Emirati community. Over 170,000 people visited the Sheikh Zayed Grand Mosque in Abu Dhabi during the Eid al-Fitr holidays. Around 103,207 were
June 10, 2019 in Business News -
Dubai plans to bring 100mph rail system to the emirate
A futuristic elevated rail system could become the next addition to Dubai’s transport network. A memorandum of understanding (MoU) has been signed between Dubai’s Roads and Transport Authority (RTA) and Skytran, which specialises in the development of suspended transport systems. Skytran’s passenger vehicles are lightweight and compact and have a cruising speed of 100mph. Proprietary
June 9, 2019 in Business News -
British hiker dies in Ras Al Khaimah mountains
A British hiker died after he got into difficulties in the mountains in Ras Al Khaimah. The man became trapped in the mountains at Al Manei area of the emirate. The National Search & Rescue Centre managed to rescue his three fellow climbers and airlift them to safety. National Ambulance told local media that it was
June 9, 2019 in Business News -
Oil optimism slumps to 12-week low as price dips to bear market
Hedge funds kept running away from oil as prices tumbled into a bear market. They cut bets on West Texas Intermediate crude’s rally to the lowest level in 12 weeks, according to data released Friday. Optimism on Brent crude, the global benchmark, declined by the most this year. WTI reached bear territory on Wednesday, dropping
June 8, 2019 in Business News -
Omani transport operator suspends Dubai-Muscat service after bus crash kills 17 passengers
Oman’s Mwasalat suspended all trips between Dubai and Muscat following the deaths of 17 people in a bus accident on Thursday Dubai Police said 17 people were killed in a bus accident along Sheikh Mohammed Bin Zayed Road near the Rashidiya exit to the metro station. Mwasalat, the Omani government-owned transport company, has suspended all
June 7, 2019 in Business News -
CFOs must establish the right technological foundations
Chief Financial Officers (CFOs) have to go beyond their traditional roles of ensuring the books are in order and that auditors can access the information they need. The executive team must be able to lean on them to help drive growth, nurture customer relations, and see how they can offer Gerrit Olivier, CEO of About
June 7, 2019 in Investments -
Nairobi luxury home price growth slows in Q1
According to the Knight Frank Prime Global Cities Index (PGCI), prime residential prices in Nairobi, Kenya slid in the first quarter by 6.5% in the 12 months to March 2019. This is the most significant reduction in values in a 12-month period that Nairobi has ever recorded since the index commenced recording data. The trend
June 7, 2019 in Property & Real Estate -
Saudi courts see 30,000 financial cases in 9 months
Saudi courts saw approximately 30,000 financial cases over the course of the last nine months, a 25-percent increase from the 22,700 cases dealt with the previous year, according to media reports. According to Saudi Arabi’s Al-Eqtisadiah newspaper, the Riyadh commercial court saw 13,400 cases – 44.9 percent of the total – compared to 6,400 cases
June 7, 2019 in Business News -
UAE, Saudi Arabia call for Sudan talks to resume
The United Arab Emirates called Thursday for resumed talks on its political future following a deadly crackdown on protesters. The military council, which ousted longtime president Omar al-Bashir on April 11, had offered on Wednesday to reopen negotiations. But the offer was rejected by protest leaders who demanded justice for the 108 people doctors say
June 6, 2019 in Business News -
An already weak pound will fall further if Boris Johnson becomes PM
Expect Boris Johnson, the person most likely to be the next UK Prime Minister, to drive down the pound even further should he win the leadership contest. Image source: Getty/Gallo The former London mayor is the odds-on favourite to win the Conservative Party leadership contest, securing the support of more than 40 Conservative MPs, putting
June 6, 2019 in Investments -
Solar power makes strides in innovation
The transformation of the world’s energy markets continues to gain momentum. Renewable energy projects, which have seen a rapid decline in cost over the last decade, are increasingly powering the world’s large economies in a bid to limit climate change and drive sustainable growth. In Africa, it is estimated that by 2035 solar photovoltaic (PV)
June 6, 2019 in Investments -
Angola launches licensing strategy
Angola has launched the first phase of its new six-year licensing strategy, which covers a total of 10 blocks, including Blocks 11, 12, 13, 27, 28, 29, 41, 42 and 43 in the Namibe Basin, and Block 10 in the Benguela Basin. Paulino Jerónimo, CEO of the National Agency of Petroleum, Gas and Biofuels “The
June 6, 2019 in Investments -
How to invest in property without costly and risky direct ownership
When people want to invest in real estate they usually secure a loan to purchase a property – either residential or commercial. But there are other more efficient and less costly ways to invest in the property sector. There are many benefits to direct real estate investment and it is easy to see why buying
June 6, 2019 in Property & Real Estate -
Coca-Cola Arena ready for June 6 debut
Ahead of its grand opening on June 6, Dubai’a Coca Cola arena has finally installed its giant entrance sign. The 17,000-capacity arena – which welcomes its first act, comedian Russell Peters on Thursday – took 5.65 million working hours to build since work began in 2017. The new ‘Coca Cola’ sign stands 537 cm tall
June 5, 2019 in Business News -
Africa, a world of investment opportunity
Africa boasts some of the fastest growing regions, supported by strong population growth, technological innovation and infrastructure deficit. However despite the wealth of opportunity across the continent it comes with its fair share of Africa specific risk. Gyongyi King, chief investment officer at Alexander Forbes Investments According to Gyongyi King, chief investment officer at Alexander
June 5, 2019 in Investments -
SA’s economy is a casualty of US trade wars
The first quarter GDP growth of 2019 for South Africa is once again a negative number, with the economy contracting 3.2% year on year. This follows a 1.4% growth in the previous period. It was the sharpest decline in the GDP since the first quarter of 2009, as output declined sharply in manufacturing, mining, agriculture
June 5, 2019 in Investments -
Dubai hotel accountant sentenced to jail for thefts
An accountant convicted of stealing over AED 250,000 worth of deposits from guests at a hotel in Dubai has been sentenced to two years behind bars, according to local media reports. According to reports in the National newspaper, the employee entered his own bank account details on deposit reclaim forums filed by hotel guests, ensuring
June 5, 2019 in Business News -
Rental market growth in SA remains on the cards
The recently released PayProp Rental Index for Q1 2019 has revealed a quarterly year-on-year (YOY) rental growth rate of 3.7%. While slightly lower than the previous quarter’s YOY growth rate of 4.1%, it is still a good indicator of market recovery, says Johette Smuts, PayProp’s head of data and analytics. “If we look at a
June 5, 2019 in Property & Real Estate -
China to follow the UAE in staging 2023 Asian Cup
Asia’s football chief Sheikh Salman bin Ebrahim al-Khalifa said Tuesday that China’s staging of the 2023 Asian Cup would serve as a “launchpad” for the country’s teams of the future. China was confirmed earlier Tuesday as host at the AFC’s Extraordinary Congress in Paris after all the other countries in the running dropped their bids,
June 4, 2019 in Business News -
Three-pronged partnership to upskill SA’s black farmers
A five-year Agribusiness Transformation Programme has been launched in the Free State, The programme, funded by Standard Bank and supported by the faculties of Agriculture and Entrepreneur Development at the University of the Free State and the Free State’s Department of Agriculture and Rural Development, brings together government, academia and private sector expertise to enhance
June 4, 2019 in Investments -
National Treasury welcomes IMF policy recommendations
National Treasury has welcomed and noted the key risks identified and proposed policy recommendations by the International Monetary Fund (IMF) during a recent visit to the country last month. The IMF visited South Africa from 27 – 31 May 2019 to discuss economic developments in the country. IMF staff met with government, the South African
June 4, 2019 in Investments -
Tuesday announced as first day of Eid in the UAE
Sighting of the moon marks the beginning of Eid celebration as well as the end of the holy month of Ramadan The sighting of the moon marks the beginning of Eid celebration as well as the end of the holy month of Ramadan The UAE will celebrate the first day of Eid al-Fitr on Tuesday
June 4, 2019 in Business News -
Grassroots commercial enterprises launched at Yes4Youth hub in Tembisa
The Youth Employment Service (YES) has launched two new business partnerships at the Kago Yes4Youth Community Hub in Tembisa, the first step to fulfilling its next development goal of becoming a commercial centre. The hub has introduced a manufacturing business aimed at producing and selling environmentally-friendly sanitary products and a micro-distribution business aimed at facilitating
June 3, 2019 in Manufacturing -
US President Trump arrives in Britain for state visit
US President Donald Trump lashed out at London Mayor Sadiq Khan on Monday as he arrived for a three-day state visit to Britain, reviving a long-running enmity between the two politicians. On landing, he sent out a tweet calling Khan a “stone cold loser” for criticising his red carpet treatment, which includes a private lunch
June 3, 2019 in Business News -
Female-led youth asphalt-manufacturing company launched in Limpopo
Last month marked the official launch of Maloka Machaba Surfacing (MM Surfacing), a 100% black youth-owned hot mix asphalt manufacturing company in Limpopo, the brainchild of Kate Machaba and Matshela Maloka. For Machaba, the dream of owning and running her own asphalt company came just 24 months after she qualified and started working in the
June 3, 2019 in Manufacturing -
can it offer an alternative to the US and China?
Russian President Vladimir Putin and Zambian President Edgar Lungu meet on the sidelines of the BRICS Summit in Johannesburg in 2018. EPA-EFE/Alexei NikolskySputnik/Kremlin Pool It wasn’t until the Cold War started in 1947 that Russia began to develop diplomatic relations with several African countries. This was a way to counter the influence of its rivals
June 3, 2019 in Investments -
From beaches to business: The evolution of Mauritius
Mention Mauritius and most South Africans will think of its pristine beaches and luxury resorts, but this small country is becoming a big business player not only in Africa but on a global scale. David Seinker, CEO of The Business Exchange Mauritius may just be an island – its annual tourist influx of 1.4 million
June 3, 2019 in Property & Real Estate -
How technology could help rural South Africa turn sunshine into income
But for a decentralised system to be sustainable, a flexible grid is required to accommodate variable renewable energy sources. A flexible grid also enables operators of the electricity system to balance demand and supply. A decentralised energy system also requires an exchange mechanism to link buyers and sellers. In South Africa, the state utility Eskom
June 3, 2019 in Energy -
Abu Dhabi injects new funds into India’s largest green energy firm
The Abu Dhabi Investment Authority (ADIA) is among a number of investors who have pumped $300 million in new funding into ReNew Power, India’s largest green energy company, the Economic Times newspaper reported on Friday. ADIA, along with Goldman Sachs and Canada Pension Plan Investment Board, are already existing investors in the Indian green energy
June 2, 2019 in Business News -
Dubai completes project to revive Deira markets in heritage push
Dubai Municipality on Saturday announced the completion of a project to revive the traditional markets of Deira. The project aims to revitalise the area’s traditional markets and reinforce its role as a major cultural and tourism attraction in the emirate, a statement said. While preserving the character and historical importance of Dubai’s traditional markets, the
June 2, 2019 in Business News -
Dubai imports food worth $2.3bn to meet Ramadan demand
Dubai imported foodstuffs worth AED8.3 billion ($2.26 billion) to meet demand ahead of the holy month of Ramadan, it was announced on Saturday. Latest statistics from Dubai Customs revealed the value of Dubai external trade in Ramadan food which included meats, sugar, vegetables, flour, rice, nuts, bottled water, juice and dates, weighing around 1.5 million
June 1, 2019 in Business News -
Trusted IT partners drive Middle East organisations’ digital transformation
Thanks to rapid technological development, customers know more about a brand’s products but are also less loyal – according to Salesforce’s new report “The State of the Connected Customer.” Thierry Nicault, Regional Vice-President Enterprise Business Unit for Middle East, Africa and Central Europe, Salesforce talks about preparing for digital transformation without losing market. Companies want
May 31, 2019 in Business News -
US-China trade wars stifling global economic growth
Over the past year, trade tensions between America and China have veered between panic and an amicable solution. In May 2019, the US President, Donald Trump renewed his threat to impose more tariffs on Chinese imports. The breakdown in negotiations led to America’s decision to raise tariffs on $200bn-worth of Chinese imports from 10% to
May 31, 2019 in Investments -
How to do business in Africa
Addressing the well-being needs of Africans through a true collaborative effort between business, government, communities and the people who inhabit this continent will unlock future value. Image source: Getty/Gallo As such, Alexander Forbes has released BenefitsALL Barometer Africa, which tackles 11 themes, relevant for multinational companies operating in Africa, says Anne Cabot-Alletzhauser, head of Alexander
May 31, 2019 in Investments -
Moving to a low-carbon future
The clock is ticking on climate change. We currently have more greenhouse gases in our atmosphere than at any time in human history. As a result of our increasing economic activity, scientists estimate that, under one potential scenario, average temperatures could rise by 6°C by the end of this century. The consequences of that would
May 31, 2019 in Investments -
Carbon tax revenues could be harnessed to help South Africa’s poor
As part of its contribution to the global effort on climate change, South Africa is introducing the Carbon Tax Act. It comes into effect on 1 June 2019 and is a great step for the country; it also puts South Africa in the company of a steadily-increasing number of countries that are pricing carbon. There
May 31, 2019 in Energy -
Solar power could stabilise Nigeria’s electricity grid and save it money
shutterstock. This unreliable power supply is a major hindrance to Nigeria’s economic growth. It also costs the country an enormous amount of money. Quoting Nigerian government data, the International Monetary Fund (IMF) says that a lack of access to reliable electricity costs Nigeria an estimated US$29 billion a year. The situation comes with environmental and
May 31, 2019 in Energy -
Uber posts $1bn loss in Q1 despite growing revenue
Ride share giant Uber on Thursday reported a $1 billion loss in the first quarter of this year despite rising revenue and monthly users. In its first earnings report as a publicly traded company, Uber said revenue climbed 20 percent to $3.1 billion from the same quarter last year, but that it lost $1 billion.
May 31, 2019 in Business News -
Dubai’s Damac hands over first Sharia compliant property
Ghalia houses 727 fully furnished, luxury apartments and is located in the heart of the Jumeirah Village Circle In keeping with Sharia law, Ghalia features separate amenities for men and women, including separate dining facilities, gymnasiums and swimming pools. Ghalia, Damac’s first Sharia compliant offering, has entered the handover phase with the first residents being
May 30, 2019 in Business News -
What SA can learn about offshore mining from Namibia
The incredible wealth of the Southern African region’s offshore mineral deposits was once again highlighted by the oil and gas find off the coast of Mossel Bay. So, understandably, there has been much focus on the prospects of the economic development that such a discovery could bring to South Africa and the broader region. Otto
May 30, 2019 in Investments -
Ferrari goes electric with SF90 Speciale V8 supercar
Ferrari has done the unthinkable and going electric following the launch overnight of the Plug-In Hybrid SF90 Speciale V8 supercar and according to company CEO Louis Camilleri, there’s plenty more to come. Following a dabble into hybrid technology with the invitation-only, limited build LaFerrari in 2013, the company is going all out, launching an electrification
May 29, 2019 in Business News -
Financial Mail announces winners of Top Analyst Awards 2019
The winners of Financial Mail’s annual Top Analyst Awards were announced last night recognising South Africa’s top analysts in the institutional stockbroking industry. Overall Winner at the Financial Mail Top Analyst Awards 2019 – Standard Bank SBG Securities. A new level “This year is the 44th year we’re hosting these awards, and we’re taking the rankings
May 29, 2019 in Investments -
Apple unveils first new iPod model in four years
Apple on Tuesday introduced its first new iPod model in four years, highlighting music and games as it continued to make a priority of serving up digital content. The new-generation iPod touch, essentially an iPhone without the phone calls, was available in more than two dozen countries at Apple’s online shop – including the UAE
May 29, 2019 in Business News -
Change to licensing regulations adds a surge to grid
Minister of Energy, Jeff Radebe, has granted a welcome deviation from South Africa’s existing power generation licensing regulations that allows additional power to be fed into the local grid. The change comes amidst growing concern over an already-strained national power supply and its ability to tolerate the increased winter load. Emma Dempster, director in the
May 29, 2019 in Energy -
UAE Central Bank cuts economic growth forecasts for 2019
Central bank says UAE economy will expand only 2% in 2019, compared with a previous forecast of 3.5% published in March The central bank singled out a deceleration in oil production as a drag on the economy. Economic growth in OPEC’s third-biggest producer this year will fall far short of previous estimates and could undershoot
May 28, 2019 in Business News -
Big Pharma emits more greenhouse gases than the automotive industry
Rarely does mention of the pharmaceutical industry conjure up images of smoke stacks, pollution and environmental damage. Yet our recent study found the global pharmaceutical industry is not only a significant contributor to global warming, but it is also dirtier than the global automotive production sector. It was a surprise to find how little attention
May 28, 2019 in Manufacturing -
Dubai’s Enoc reveals expansion plan ahead of Expo 2020
Enoc Group has announced ambitious plans to strengthen its retail and service station network by 2020 to meet the requirements of Expo 2020 Dubai. The company said it will further expand its retail network to 191 from its current 129 service stations across the UAE in the lead up to the Expo. It will also
May 28, 2019 in Business News -
Over half of UAE employees expecting a pay rise in 2019
Most UAE employees expecting a raise said it would be between 1-5% When it came to specific employers, the vast majority – 83 percent – said they’d worked at a certain company for less than 6 years, with 49 percent reporting being with their employer for less than three years. More than half of employees
May 27, 2019 in Business News -
The art of combining asset classes
Ray Dalio, the billionaire founder of Bridgewater Associates, describes his epiphany when he discovered the “Holy Grail of investing” as something akin to what Einstein must have felt when he discovered E=mc2. His insight can be simply described as the discovery that, with 15 to 20 good, uncorrelated return streams, you can dramatically reduce risks
May 27, 2019 in Investments -
ESET discovers fake cryptocurrency apps
ESET researchers have just concluded their analysis of fake cryptocurrency wallets that emerged on Google Play at the time of bitcoin’s renewed spike in value. This month has seen bitcoin growing, with its price climbing to its highest point since September 2018. Not surprisingly, cybercriminals were quick to notice this development and started upping their
May 27, 2019 in Investments -
Post-election Ramaphoria sees home purchase offers rocket
According to BetterBond CEO Rudi Botha, while interest rates have a big influence on the residential property market, in SA sentiment often plays an even bigger role. “This is evident from the huge increase (22%) in the number of offers to purchase signed and home loan applications made in the first two weeks of this
May 27, 2019 in Property & Real Estate -
UAE Eid Al Fitr holidays to start on June 2
The Eid Al Fitr holiday will last one week, with work resuming on Sunday June 9, according to the directive issued by Sheikh Khalifa No official announcement regarding the private sector has been made, but following the directives issued earlier this year, private sector employees will benefit from the same public holidays as the
May 26, 2019 in Business News -
UAE reveals penalties for violations of digital tax stamps system
The UAE’s Federal Tax Authority (FTA) has revealed the penalties facing violators of the Marking Tobacco and Tobacco Products Scheme, which calls for digital tax stamps to be applied to products before being sold in local markets. The authority said in a statement carried by state news agency WAM that the penalties are meant to
May 26, 2019 in Business News -
Dubai, Sharjah road links set to improve as project nears completion
A key road project to improve links between Dubai and Sharjah is scheduled to be completed by the end of June, the Roads and Transport Authority (RTA) said on Saturday. The RTA announced that the completion rate of Tripoli Street Improvement Project has reached 90 percent. The 12km street, which links Sheikh Mohammed bin Zayed
May 25, 2019 in Business News -
US orders new troops to Middle East to counter Iran ‘threat’
The United States announced Friday it was deploying 1,500 additional troops to the Middle East in response to what the Pentagon called an “campaign” of recent attacks approved by Iran’s top leadership. The escalation of the US military presence follows a decision in early May to send an aircraft carrier strike force and B-52 bombers
May 24, 2019 in Business News -
Promising signs for an uptick in activity in SA’s housing market
As anticipated, the MPC kept the repo rate steady, taking a conservative approach against the backdrop of rising fuel prices, and with a wary eye on CPI inflation. However, a reduction in the repo rate, on the back of the market-friendly election outcome, would have created stimulus for the economy and property market, as well
May 24, 2019 in Property & Real Estate -
#AfricaMonth: Turning capitalism into Africapitalism
Given its colonial past, Africa has not had the opportunity to engage with the positive aspects or benefits of capitalism, having been integrated into the international economy in a position of subservience, based on extraction of value and exploitation. Image source: Getty/Gallo “The real question arises as to how can Africa indigenise capitalism for their
May 24, 2019 in Investments -
Opinion: why Saudi Arabia’s housing goals need empowered women
A year ago, much of the conversation about women’s empowerment in Saudi Arabia centred on the government’s decision to let them drive. Other well-publicized reforms since then have opened up opportunities for women in the military and aviation, as well as access to previously proscribed or restricted spaces, like sports stadiums and music concerts. But
May 24, 2019 in Business News -
Rate cut needed to kickstart the economy
The Reserve Bank should have been brave and should have cut the interest rate to kickstart the economy. Instead, the Monetary Policy Committee (MPC) kept the repo rate unchanged at 6.75%, leaving the mortgage rate at 10.25%. Samuel Seeff, chairman of the Seeff Property Group Following the conclusion of what has largely been seen as
May 24, 2019 in Property & Real Estate -
UAE launches campaign to support Rohingya refugees
The United Arab Emirates has launched the UAE for Rohingya Women and Children campaign to support their humanitarian situation, alleviate their sufferings, and improve their living conditions. An Emirati humanitarian alliance has been formed, in which about 20 humanitarian and development organisations and societies are working to achieve the aspirations of the country’s leadership to
May 23, 2019 in Business News -
Seven things to consider when transacting in Africa
Accept the uncertainty and gather knowledge Investors in Africa must consider geo-political and economic uncertainty on the continent as well as a plethora of country and region-specific governance, compliance and regulatory challenges when investing in the region. They must also contend with a critical lack of infrastructure and poor integration when transacting across borders in
May 23, 2019 in Investments -
Intra-continental growth vital for African development
African countries have been urged to focus on improving intra-continental trade if significant economic growth is to be tangible. Image source: Getty/Gallo The remark was made by Trudi Makhaya, economic advisor to President Cyril Ramaphosa, during an African Press Attachés breakfast roundtable discussion in Pretoria on Wednesday. The breakfast was organised by the Government Communication
May 23, 2019 in Investments -
Why demographics matter in investment decisions
What’s happening in the world can impact the economic value chain. So, it’s something successful long-term investors spend a lot of time thinking about. The rise of the Asian middle class impacts investment decisions. Image source: Getty/Gallo Digital interconnectivity or the rise of electric (and even driverless) motor vehicles are examples of long-term trends that
May 23, 2019 in Investments -
Green shoots at last in the property sector?
Following the elections, there are signs of increased activity in the property market which may signal a possible upturn, says Gary Palmer, CEO, Paragon Lending Solutions. Gary Palmer, CEO, Paragon Lending Solutions “The first quarter of 2019 was very tough and people took some real losses after a relatively stagnant 2018,” says Palmer. “Property owners
May 23, 2019 in Property & Real Estate -
British PM May stares at defeat in final Brexit gambit
British Prime Minister Theresa May stared at the prospect Wednesday of her political career coming to an inglorious end after her final attempt to save her hated Brexit deal was almost universally condemned by parliament. The beleaguered premier is in the last throes of a tumultuous rule focused all-but exclusively on guiding her fractured country
May 23, 2019 in Business News -
What you need to know about investing in student accommodation
While anybody thinking of investing in a rental property usually starts with two main considerations – the right location and the demand for rental property in that location, student accommodation is one of those property investments where the location is predetermined and the demand far exceeds the supply, making for the ideal foundation for a
May 22, 2019 in Property & Real Estate -
Zambia threatens to liquidate Vedanta’s Konkola Copper Mines
Vedanta Resources is seeking at urgent meeting with Zambia president Edgar Lungu ahead of a High Court hearing on Friday to rule on an application to provisionally liquidate Konkola Copper Mines (KCM) which Vedanta controls. Konkola copper mine. Image: Wikimedia Commons The president visited the copperbelt over the weekend, where he indicated his intention of
May 22, 2019 in Investments -
Omani writer Jokha Alharthi becomes first Arabic author to win Man Booker prize
Jokha Alharthi on Tuesday became the first Arabic author to win the Man Booker International prize for her novel “Celestial Bodies” which reveals her Omani homeland’s post-colonial transformation. “I am thrilled that a window has been opened to the rich Arabic culture,” Alharthi, 40, told reporters after the ceremony at the Roundhouse in London. Alharthi
May 22, 2019 in Business News -
‘Last chance’ to end Brexit deadlock, says British PM
British Prime Minister Theresa May promised Tuesday to give lawmakers a vote on whether to hold a second Brexit referendum as part of a last-gasp push to get her deal over the line. The embattled British leader dangled a series of sweeteners that she hopes can resolve the Brexit crisis three years after the country
May 21, 2019 in Business News -
Tech makes end-to-end supply chain visibility and predictive analytics a reality
Line of sight is the biggest challenge for all aspects of the supply chain, from the manufacturer to the wholesaler, distributor and the reseller and even to the end consumer. This lack of visibility and resulting lack of control results in a number of issues, from stock losses to pricing inflation, uncertain availability and increased
May 21, 2019 in Manufacturing -
How Section 12J investments complement the business rescue process
South Africa’s leading home appliance repair and maintenance brand is poised for spectacular growth thanks to the success of two pro-business processes introduced by local lawmakers. The firm used both the Department of Trade and Industry’s ‘business rescue’ legislation and the SARS Section 12J tax incentive scheme to shake off recent trading difficulties and emerge
May 21, 2019 in Venture Capital -
Coca-Cola to retain majority stake in Africa bottling business
The Coca-Cola Company has announced that it will maintain its majority stake in Coca-Cola Beverages Africa, abandoning plans to refranchise its Africa bottling business. Image credit: CCBA With the change, Coca-Cola will begin presenting the financial statements of CCBA within its results from continuing operations in the second quarter of 2019, in accordance with U.S.
May 21, 2019 in Manufacturing -
Look who’s talking: the Gulf’s $1trn bank merger bonanza
More than 20 Gulf financial institutions with total assets exceeding $1 trillion are in merger talks, part of an unprecedented wave of consolidation in the region’s financial industry. Here’s a rundown of who is talking to who: Abu Dhabi Islamic Bank and First Abu Dhabi Bank: Talks are said to be underway in Abu Dhabi
May 21, 2019 in Business News -
More tenants looking to buy Dubai homes, says broker
Fidu Properties, the Chinese real estate company operating in the UAE, has claimed more tenants are looking to buy a Dubai property as developers increasingly offer lucrative options to investors and end-users. The company, which said it is bullish about the growth potential of the real estate sector in Dubai and has announced expansion plans
May 20, 2019 in Business News -
Kenyan students look to Uber(ise) solar energy
A team of students from Strathmore University in Nairobi, Kenya walked off as the inaugural winners of the African Utility Week and PowerGen Africa conference and exhibition’s first Initiate! Impact Challenge. The students received R20,000 in prize money for an innovative concept to provide equitable energy access to remote villages based on, among others, “Uber(ising)”
May 20, 2019 in Energy -
Goldman Sachs thinks we’ve got a future
News that giant investment bank Goldman Sachs is to expand its South African operations has made headlines in our business papers. source: careercenter.utsa.edu This is seen as a “vote of confidence” in South Africa, a “ringing endorsement” of president Cyril Ramaphosa, and “music to the ears of business”. Goldman Sachs sub-Saharan Africa CEO Colin Coleman
May 20, 2019 in Investments -
All the 2019 African Power, Energy & Water Industry Awards winners
Ethiopia’s former state minister in the Ministry of Water, Irrigation and Energy Wondimu Tekle Sigo was among the winners at the annual African Power, Energy & Water Industry Awards held in Cape Town last week. Sigo, awarded the Lifetime Achievement Award, said he was “grateful for being chosen”. According to the former minister he was
May 20, 2019 in Energy -
Saudi Arabia deposits $250 mn in Sudan’s central bank
The UAE said on April 28 it was depositing $250 million in Sudan’s central bank In recent years Sudan has been hit by an acute lack of dollars, a key factor behind the nationwide protests that first erupted in December and led to the toppling of Bashir by the army last month. Saudi Arabia
May 19, 2019 in Business News -
Dubai unemployment rate remains steady at 0.5% in 2018
Dubai’s unemployment rate reached 0.5 percent last year, while the economic participation rate as a percentage of total working-age population reached 83.2 percent, according to official figures. The Labour Force Survey 2018 published by Dubai Statistics Centre also showed the unemployment rate among Emiratis increased from 2.9 percent in 2016 to 4 percent in 2018.
May 19, 2019 in Business News -
Dubai free zone to return $354m to firms in wage protection push
A Dubai free zone will become the first in the UAE to return cash and bank guarantees to businesses in a push to protect wages of its employees. Jebel Ali Free Zone (Jafza) on Saturday announced the move through its new Workforce Protection Programme initiative that is set to roll out in September. The move
May 18, 2019 in Business News -
UK firm said to plan $440m algae farm in Oman
London-headquartered Feed Algae reportedly plans to develop one of the world’s largest algae farms in sultanate The mega algae cultivation project will be capable of producing 100,000 tonnes of algae per annum, with the first harvest expected in 2022. A UK-based firm is reportedly planning to develop one of the world’s largest algae farms in
May 17, 2019 in Business News -
Real estate experts weigh in on the elections
Now that the elections are over, real estate practitioners have dusted off their crystal balls and give us their opinion on the future of the property market. Finally the wait is over. For the past six months, the country has been holding its breath, awaiting the outcome of the national elections so that South Africans
May 17, 2019 in Property & Real Estate -
Emira adds two more shopping centres to its US portfolio
Emira Property Fund has made two further equity investments into grocery-anchored dominant shopping centres in the USA, both located in Texas, furthering its US investment strategy through which it has now assembled a portfolio of eight value-focused retail centre assets. Geoff Jennett, CEO of Emira, says: “Our latest acquisitions strengthen the value and quality of
May 17, 2019 in Property & Real Estate -
Dubai’s Cove Beach to host first US takeover in Las Vegas
Dubai’s Cove Beach has announced it will host its first US takeover at Venus Pool & Lounge at Caesars Palace’s Garden of the Gods Pool Oasis in Las Vegas. Beginning in the last week of May through to first week of September, Cove Beach will bring its style to The Strip, featuring live entertainment and
May 17, 2019 in Business News -
Investors won’t fund fossil fuels
Even if the country remained committed to long-term coal-fired energy in a world rapidly transforming to green energy, it would have difficulty finding investors to build the infrastructure, said Phakamani Hadebe Eskom chief executive at the National Utility Week and Powergen Africa conference in Cape Town. Eskom chief executive, Phakamani Hadebe “The world is changing
May 17, 2019 in Investments -
Ras Al Khaimah begins electronic tagging for low-risk prisoners
Ras Al Khaimah on Thursday said it has begun the electronic tagging of low-risk prisoners, in cooperation with the Public Prosecution Department, the Courts Department and the Ministry of Interior. The new policy is part of the recent amendments to the Law of Criminal Procedures, state news agency WAM reported. Hassan Mhaimed, Attorney General and
May 16, 2019 in Business News -
UAE says ‘committed to de-escalation’ after ship sabotage attacks
The UAE said Wednesday it was “committed to de-escalation” after a spike in tensions in the Gulf but warned it would retaliate hard against Yemen rebel attacks on civilian facilities in the region. The UAE minister of state for foreign affairs, Anwar Gargash, was speaking after the mysterious sabotage at the weekend of four ships,
May 16, 2019 in Business News -
Government at work to address economic growth
President Cyril Ramaphosa has assured potential investors that South Africa is pulling out all the stops to ensure that the country comes out of the economic slump and moves into top gear as far as the economy is concerned. President Cyril Ramaphosa “We want to move out of the low growth levels we have been
May 15, 2019 in Investments -
Finablr cuts IPO value amid weak investor demand, volatile markets
Finablr, Abu Dhabi billionaire Bavaguthu Raghuram Shetty’s financial-services firm, slashed the price for its initial public offering after struggling to find investors for its London sale. The holding company, whose businesses include Travelex Holdings Ltd. and the UAE Exchange Centre LLC, revised the offer price to 175 pence per share from an original range of
May 15, 2019 in Business News -
3 reasons it won’t cool down anytime soon
The truce in the US-China trade war is in tatters. Neither President Trump nor President Xi appears likely to back down. AP Photo/Andy Wong China said on May 13 that it will impose new tariffs on a range of American goods in retaliation for President Donald Trump’s decision to raise duties on US$200 billion in
May 15, 2019 in Investments -
The homegrown heritage of Grasshoppers shoes
Grasshoppers are designed to be worn for long stretches of time, and the company’s promise of delivering “the most comfortable shoe ever made” has seen its product worn everywhere from the school playground to the office, factory floor, casual social gatherings and weddings. Perhaps most admirable is that these iconic South African shoes are still
May 15, 2019 in Manufacturing -
What to expect from the post-election property market
As the excitement of the 2019 general elections begins to die down, the question on most citizens’ lips is, “What happens now?” For the property market, at least, predictions are cautiously optimistic. The property market is not out of the woods quite yet, but we are expecting a slow and steady improvement in activity and
May 15, 2019 in Property & Real Estate -
Post elections: Getting back to basics
There’s been a dismaying dip in business confidence in the first quarter of 2019 that analysts will tell us is unsurprising ahead of any election. That may be so, but at poll times we tend to lose sight of the fact that the democratic process and the process of economic growth are not just about
May 15, 2019 in Property & Real Estate -
New Dubai TV, film JV to focus on Arabic entertainment
Middle East distributor and producer, Front Row Filmed Entertainment, and Rocket Science, a financing, production and sales firm, have entered into a joint venture to form a Dubai-based film and TV company. Yalla Yalla will focus on producing Arabic language entertainment, a statement said, adding that it will develop, package, produce and finance television and
May 14, 2019 in Business News -
Funding gaps in infrastructure and energy projects in Africa
One of the key challenges in getting energy and infrastructure projects off the ground in Africa is the lack of available funding. This does not refer to the availability of debt or equity funding from large institutions that commonly invest in this sector, but rather to two types of funding that are currently not readily
May 14, 2019 in Investments -
3 key post-election investor questions for Ramaphosa
Watch for the size and structure of the cabinet The cabinet announcement is perhaps even more important than the actual election results, especially for international investors, given that the ANC was already expected to win. The key question for investors heading into the election was rather how much the ANC would win by, and whether
May 14, 2019 in Investments -
Dubai’s DP World signs Ian Poulter as first global ambassador
European Ryder Cup legend Ian Poulter has become DP World’s first global ambassador. The Dubai-based global trade enabler and European Tour partner on Monday confirmed the signing of the English golfer. Poulter will carry the DP World logo on the left sleeve of his clothing at all tournaments and his role as a global ambassador
May 14, 2019 in Business News -
Saudi Arabia approves plan for Green Card-style system
The Consultative Assembly of Saudi Arabia has approved a draft law regulating the issuance of residence permits for highly-skilled and wealthy foreign nationals without the need for a sponsor. In a move to attract foreign investors and entrepreneurs, the Shura Council has approved the initiative, similar to the Green Card in the United States, as
May 13, 2019 in Business News -
Q&A with Angola’s new African Energy Chamber president
Production levels in Angola are expected to soar by 2020 following the reorganisation of the state oil company Sonangol, and a drastic revision of country’s legislation related to oil and gas. The recently appointed president for Angola of the African Energy Chamber (AEC), Sergio Pugliese, discusses where his country’s energy sector is headed. Sergio Pugliese,
May 13, 2019 in Investments -
What it means now that all the votes have been counted
Now that the General Elections have smoothly run their course and most of the speculations have abated, we expect an upswing of positive market sentiment. This increased positivity on the national and international fronts will definitely result in more qualified buyers returning to the market. Mike Greeff, CEO of Greeff Christies International Real Estate These
May 13, 2019 in Property & Real Estate -
UAE reports ‘acts of sabotage’ against 4 boats off its coast
Ministry of Foreign Affairs and International Cooperation described the acts of sabotage as ‘a serious development’ “Four commercial, civilian trading vessels of various nationalities this morning suffered acts of sabotage” off the UAE’s eastern coast, its foreign ministry said in a statement, without naming who was responsible. Photo for illustrative purposes. The United Arab Emirates
May 12, 2019 in Business News -
Malaysia see 22% surge in visitors from Arab countries
The biggest spenders were those from Saudi Arabia, followed by the UAE Total spending by Arab visitors hit 3.8 billion Malaysian Ringgit ($916 million), with the biggest spenders coming from Saudi Arabia. Around a fifth more tourists from Arab countries visited Malaysia last year, according to the latest figures released. Around 33,000 visitors from Arab
May 12, 2019 in Business News -
Dubai’s RTA awards contract for key $136m Dubai roads project
Dubai’s Roads and Transport Authority (RTA) has awarded a contract for the construction of Al Khawaneej Corridor and Mushrif Park Improvement Project, which will cost about AED500 million ($136 million). The project encompasses the construction of three main junctions at Al Khawaneej and Al Amardi Streets and is part of several roads and transportation projects
May 11, 2019 in Business News -
Dubai’s P&O Ports agrees deal to operate Serbia’s Novi Sad
Dubai-owned P&O Ports has announced an agreement to operate the port of Novi Sad, Serbia as part of a long-term investment plan to upgrade equipment and services. The agreement will grant P&O Ports rights to operate Novi Sad for an initial 25 years with an option to renew by both parties for another 25 years
May 10, 2019 in Business News -
Forum challenges African businesses to dive into the Blue Economy
Aiming to raise awareness of the economic, social and environmental benefits of the Blue Economy, the Africa Blue Economy Forum (ABEF) is coming to Tunis, Tunisia from 25-26 June 2019. Confirmed speakers include Government ministers and officials from Gabon, Ghana, Morocco, Somaliland, Tunisia and Seychelles. African businesses are being challenged to wake up to the
May 10, 2019 in Investments -
Amazon’s Bezos unveils lunar lander project Blue Moon
Jeff Bezos, the richest man in the world and head of space company Blue Origin, has announced his intent to participate in the new race to the Moon with a high-tech lander to carry vehicles and equipment. “This is Blue Moon,” the 55-year-old said at a carefully choreographed presentation in Washington, as curtains lifted to
May 10, 2019 in Business News -
Saudi Arabia sees over 6.1m Umrah pilgrims so far, up 7%
The number of pilgrims performing Umrah in the holy city of Makkah has so far exceeded 6.1 million, up 7 percent compared to the previous year, according to the Ministry of Hajj and Umrah. The number of issued visas is 6,730,109, up 6 percent from last year’s 6,314,448, the ministry said in a new report.
May 9, 2019 in Business News -
Is buy-to-let property investment on its death bed?
The once buoyant residential market is not the golden goose it was a few years back, says Rowan Alexander, director of Alexander Swart Properties, but this is a short term view for which there is little or no justification. “One can find weekly in the news media, data reinforcing the notion that the property market
May 9, 2019 in Property & Real Estate -
Strategic Fuel Fund signs deal for Block B2
South Africa’s state-owned oil company Strategic Fuel Fund (SFF) has signed an exploration and production sharing agreement (EPSA) with South Sudan for Block B2. Source: APO In 2018, South Africa agreed to invest $1bn into South Sudan’s energy infrastructure; South Sudan has the third-largest oil reserves in sub-Saharan Africa, estimated at 3.5 billion barrels, with
May 9, 2019 in Energy -
GCC Islamic banks set to show ‘resilience’ over next two years
Islamic banks in the GCC are expected to show resilience over the next two years after weathering tough market conditions in 2018, according to new research. S&P Global Ratings said in a report that in 2018, GCC Islamic banks expanded slower than conventional peers for the first time in five years. Mohamed Damak, S&P Global
May 9, 2019 in Business News -
Nearly 200,000 people visit Founder’s Memorial in Abu Dhabi
Permanent national tribute to the late Sheikh Zayed bin Sultan Al Nahyan, the founding father of the UAE, attracts 198,919 visitors during first year Open daily, the Founder’s Memorial offers year-round programming and free guided tours to visitors. The Founder’s Memorial, a permanent national tribute to the late Sheikh Zayed bin Sultan Al Nahyan, the
May 8, 2019 in Business News -
Saudi Aramco said to mull US shale investment with Equinor
Saudi Aramco is weighing a potential investment in Norwegian oil company Equinor’s US shale operations in what could be the energy giant’s first ever overseas venture for gas exploration, according to people familiar with the matter. The state-run company, known officially as Saudi Arabian Oil Co, is considering investing in Equinor’s Marcellus shale operations through
May 7, 2019 in Business News -
Can AI be trusted to make investment decisions?
We can’t ignore the impact of AI (artificial intelligence) on investments any longer. AI is here to stay, and brings with it a whole new way of doing business. The World Economic Forum 2019 was dominated by AI, and our industry has not been left unaffected. Some of the things we need to consider include:
May 7, 2019 in Investments -
Sipho Pityana named new chairperson of Redefine Properties
Redefine Properties has appointed Sipho Pityana as its independent non-executive chairperson with effect from 3 May. Pityana is the founder and chairman of Izingwe Capital, a privately held investment company. He is also chairperson of the board of directors of public-listed companies AngloGold Ashanti Limited and Onelogix Group Limited, and an independent director of Absa
May 7, 2019 in Property & Real Estate -
Central bank strike cripples Lebanon stock exchange
The Beirut Stock Exchange said Monday it had been “forced” to halt trading because of an open-ended strike by central bank employees over proposed cuts to their benefits. It said it would halt operations “until further notice” as it could not clear and settle trades because of the strike, which started on Saturday. “To protect
May 7, 2019 in Business News -
Skyscanner sees business soar in Middle East despite ‘slower’ growth
Scottish-based travel metasearch engine Skyscanner is seeing over 100% year-on-year growth in the Middle East, according to its senior director of strategic partnerships. Speaking to Arabian Business, Hugh Aitken said the growth is led largely by mobile bookings. “We’ve grown by over 100% in this region (Middle East) so we’re seeing significant growth, particularly with
May 6, 2019 in Business News -
Savings rate drops to all-time low, reveals underlying issues
The Investec GIBS Savings Index hit an all-time low in 2018 of 56.6 in the first quarter of the year. Although the index lifted each subsequent quarter, reaching 60.0 in the fourth quarter of 2018, this remains a far cry from the 100 score that corresponds with a healthy and robust savings environment. South Africa
May 6, 2019 in Investments -
UAE announces Monday May 6 as first day of Ramadan
UAE announces Monday May 6 as the first day of the holy month of Ramadan. The announcement was made after the UAE’s Moon sighting committee convened on Sunday evening at the Abu Dhabi Judicial Department, and confirmed the presence of the crescent moon that marks the beginning of a new month. #رمضان #Ramadan pic.twitter.com/kXDhJsI4cB— Hamdan
May 5, 2019 in Business News -
UAE’s non-oil business activity grows sharply in April
There was a sharp acceleration in the growth of UAE non-oil companies in April, driven by improvements in market conditions and a growth in external demand, according to the seasonally adjusted Emirates NBD Purchasing Managers Index (PMI). According to the data, the pace of expansion of growth in non-oil companies was a 16-month high, with
May 5, 2019 in Business News -
Dubai sniffer dogs help seize over 5.7m Captagon pills
Dubai Customs has announced the seizure of more than 5.7 million Captagon pills. According to the authority, the pills were hidden in a foodstuff container arriving into the emirate from an unnamed Arab country at the Jebel Ali and Tecom Customs Centre. This latest bust by Dubai Customs raises the number of Captagon pills seized
May 4, 2019 in Business News -
Oman said to eye multi-billion dollar SoftBank fund investment
SoftBank Group Corp is considering an initial public offering of its $100 billion Vision Fund, according to the Wall Street Journal. The Japanese conglomerate is also negotiating with the sultanate of Oman for an investment of several billion dollars in the existing Vision Fund, the Journal reported Friday, citing unidentified people familiar with the matter.
May 4, 2019 in Business News -
Property developer John Rabie launches new venture in Portugal
South African property developer John Rabie has embarked on a new joint venture in Portugal, with Geneva-based GMG Real Estate and Europe-domiciled Neworld – the new operational body that will spearhead Rabie’s residential and mixed-use developments beyond South Africa – creating a €90m (over R1.4bn) residential and retail development in Amoireras, Lisbon. “Lisbon has so
May 3, 2019 in Property & Real Estate -
Emails reveal US investor warned months before Abraaj collapse
Five months before the events that led to the collapse of Abraaj Group, the biggest in private equity history, one of the firm’s investors was warned about putting more money in, according to an email chain reviewed by Bloomberg News. At least two senior executives of Hamilton Lane Inc received an anonymous email in September
May 3, 2019 in Business News -
South Africa’s black middle class is battling to find a political home
South Africa’s black middle class is growing numerically – and growing politically restive. But does it see the world differently from others? Does this translate into voting behaviour? None of South Africa’s political parties are offering middle class black people a home. shutterstock These questions require close consideration because the black middle class is already
May 3, 2019 in Investments -
Fintech driving African economies across traditional sectors
African economic growth has in general been driven by public infrastructure investment and the expansion of services to a largely underserviced population. However, fintech is increasingly receiving attention from both private and public sector, facilitating innovation in other sectors of the economy and allowing African nations to leapfrog more traditional infrastructure. Image source: Getty/Gallo The
May 3, 2019 in Investments -
Former Abraaj CEO Arif Naqvi granted $20m bail by London court
Arif Naqvi, the founder of buyout fund Abraaj Group, was granted conditional bail of 15 million pounds ($20 million) by a London judge on Wednesday, despite worries by prosecutors that he may flee to Pakistan rather than face US fraud charges. Judge Emma Arbuthnot ruled that Naqvi, 58, can’t have his travel documents, must wear
May 2, 2019 in Business News -
Do provincial election outcomes affect the property market?
Two property consultants confirm that it is not provincial elections that cause semigration, rather it is the performance of individual municipalities. Over the past six months, analysts, economists, wealth management advisors and similar professional opinions have generally expressed the same sentiment; that investors are hesitant to enter the property market, or any other platform for
May 2, 2019 in Property & Real Estate -
distinguishing the good from the bad
Access to finance is consistently listed as the biggest obstacle for start-ups Africa. Wikimedia Commons/The Wot-If? Trust To absorb these new entrants, Africa needs to create over 18 million new jobs each year. Governments need to put in place policies that drive economic growth and competitiveness. These in turn, will enable the growth of small
May 2, 2019 in Investments -
This industry is not what it used to be, says clothing worker
Fadwah Rinquest has been working as a seamstress at one of Cape Town’s oldest clothing factories – House of Monatic – for ten years. Seamstress Fadwah Rinquest has been working for over ten years at House of Monatic. She is also a union shop steward. Photo: Ashraf Hendricks Rinquest, 33, leaves her home in Tafelsig,
May 2, 2019 in Manufacturing -
Clean, affordable renewable energy for Somaliland
Through a phased approach, the he UK-funded Energy Security and Resource Efficiency in Somaliland (Esres) in partnership with the Somaliland’s Ministry of Energy and Minerals (MoEM) is addressing the high costs of electricity in Somaliland. Photo: UK Aid The diversification of Somaliland’s energy mix, and the strengthening of energy security will help address the high
May 2, 2019 in Energy -
WWE wrestling set to return to Saudi Arabia in June
World Wrestling Entertainment says it will bring event to Jeddah in partnership with the Saudi General Sports Authority The event will feature WWE superstars Roman Reigns, Undertaker (pictured), Kofi Kingston, Braun Strowman, Seth Rollins, Goldberg, AJ Styles and Brock Lesnar. World Wrestling Entertainment (WWE) will return to Saudi Arabia next month after making its debut
May 2, 2019 in Business News -
New UAE banking group unveiled with $115bn assets
Abu Dhabi Commercial Bank (ADCB) has merged with Union National Bank (UNB) and the merged entity has acquired Al Hilal Bank, forming the ADCB Group with effect from Wednesday. The ADCB Group, serving over one million customers, has AED423 billion ($115 billion) in assets, and is the third-largest financial institution and one of the largest
May 1, 2019 in Business News -
Dubai ruler approves raft of major projects for the future
Sheikh Mohammed bin Rashid Al Maktoum, Vice President and Prime Minister of the UAE and Ruler of Dubai, has approved a package of future projects to be developed by the Roads and Transport Authority (RTA). The projects, aimed at enhancing the happiness of residents, include a Sky Garden, bicycle lanes and promenades at Sheikh Zayed
April 30, 2019 in Business News -
Finance model for energy projects in Africa needs to change
The business model for energy investment needs to change. There are far too many players that are comfortable with the same structures for investment, selling to an SOE (state-owned enterprise) with a government guarantee. Penny Herbst, director: strategy, GreenCo “What we really need at present is for investors to have a stake where their influence
April 30, 2019 in Investments -
Property experts optimistic for post-election upswing
Property owners across South Africa will be pleased to hear that industry experts are predicting a strong chance of a post-election market upswing. This could signal the end of the multi-year market contraction that has seen property price growth averages stagnating nationwide. Tony Clarke, MD, Rawson Property Group The current market has been strongly influenced
April 30, 2019 in Property & Real Estate -
Action Hotels’ Sheikh Mubarak leads winners at Arabian Business Kuwait Awards
Sheikh Mubarak Al Abdullah Al-Mubarak Al-Sabah led the winners and was guest of honour at the Arabian Business Kuwait Awards 2019 on Sunday. The event, which was sponsored by RAM and held at the Four Seasons Hotel Kuwait at Burj Alshaya, gathered together Kuwait’s finest business leaders, entrepreneurs and thought-leaders and was a chance to
April 30, 2019 in Business News -
Buyer analysis-paralysis, the elections can’t come quick enough
The 2019 elections simply cannot come quick enough. It is time to get it done and dusted as quickly and efficiently as possible so that we can get back to the business of building the economy and property market. Samuel Seeff, chairman, Seeff Property Group Most of the year has been characterised by ‘buyer analysis-paralysis’
April 30, 2019 in Property & Real Estate -
Dubai crown prince approves new gov’t fine and fee payments
Sheikh Hamdan bin Mohammed bin Rashid Al Maktoum, Crown Prince of Dubai and chairman of Dubai Executive Council, has issued a resolution approving the payment of selected Dubai government fees and fines in instalments. The resolution aims to support individuals and entities in fulfilling their financial obligations and enhance the process of collection of government
April 29, 2019 in Business News -
2019 Business Innovation Awards entries open with two new categories
Following overwhelming responses from entrepreneurs, the FNB Business Innovation Awards (FNB BIA) have been extended to include two more categories, and now represent the entire business landscape in South Africa. Adding to the Endeavor global category, FNB has further partnered with 10XE and the Township Entrepreneurs Alliance (TEA) to introduce SME and township entrepreneur categories,
April 29, 2019 in Venture Capital -
An increasing exposure to China in indices
Investors would generally hope that the index they choose to invest in passively, or to use as a benchmark for an active manager, will capture the desired economic exposure that they are seeking. Janina Slawski, principal investment consultant, Alexander Forbes Investments But this is often not the case. In a particularly stark example, China ranks
April 29, 2019 in Investments -
Damac signs partnership with Rotana to develop Saudi opportunties
Damac Properties has signed a partnership agreement with UAE’s Rotana to develop opportunities in Saudi Arabia’s hospitality sector. The partnership starts with an agreement for Rotana to operate a tower of hotel apartments in Riyadh. Under the agreement, Damac Towers Arjaan by Rotana, Riyadh, which features apartments furnished by Fendi Casa, will be operated under
April 29, 2019 in Business News -
Westlife set to perform at Dubai’s Coca-Cola Arena this August
Prices, ticket information and details on the Irish popstars’ 20th anniversary tour Westlife, which were considered to be one of the biggest in the world in their heyday, have re-formed – without Brian McFadden – to play a special global tour. Irish band Westlife are the latest act to announce a gig at the
April 28, 2019 in Business News -
Avengers: Endgame set for record-breaking UAE box office opening
The latest in the Marvel film franchise sold twice as many presale tickets this weekend in the UAE as previous movie The three-hour Avengers: Endgame movie stars a long list of Hollywood superstars, including Robert Downey Jr, Chris Evans, Mark Ruffalo, Chris Hemsworth, Scarlett Johansson, Jeremy Renner, Don Cheadle, Paul Rudd, Brie Larson, Karen Gillan,
April 27, 2019 in Business News -
Saudi Arabia said to mull relaxation of foreign ownership limits
Capital Market Authority chief says he is considering relaxing a 49% limit for foreign investors in shares of listed companies in Saudi Arabia The Saudi Stock Exchange has seen a surge in foreign fund flows since the start of the year due to the inclusion in the emerging markets indexes. (FAYEZ NURELDINE/AFP/Getty Images) Saudi Arabia
April 27, 2019 in Business News -
Qatar, Israel among 192 countries invited to take part in Expo 2020 Dubai
Expo 2020 Dubai has invited all 192 countries “without exception” to take part in the event next year, including Qatar and Israel, making it the most inclusive and international Expo ever organised, an official spokesperson confirmed. “We have invited all countries in the world without exception, in line with our commitment to making Expo 2020
April 26, 2019 in Business News -
5 things you can do to help now
With Earth Day and Fashion Revolution week upon us, fashion lovers need to reflect on how their consumption has an undeniably negative impact on both planet and people. Fashion is rife with gender inequality, environmental degradation and human rights abuses — all of which are intrinsically interconnected. The Fashion Revolution campaign began because of the
April 26, 2019 in Manufacturing -
More carrot less stick needed in investment choices
Forcing retirement funds to invest in certain prescribed assets is likely to have unintended consequences. It’s likely to worsen the already fragile confidence in the economy. It’s also likely to fuel policy uncertainty in areas such as property rights. Elias Masilela Investing in the country was not only essential but an imperative; however, using a
April 26, 2019 in Investments -
EPP completes R1.45bn equity raise
JSE-listed Polish retail company EPP has successfully completed an equity raise of R1.45bn, equating to approximately €90m. It will use the equity to fund tranche 2 of its M1 portfolio transaction which it expects to complete by June this year. The deal is expected to add an additional 184,000m2 of retail GLA to EPP’s portfolio.
April 26, 2019 in Property & Real Estate -
Should we turn the Sahara Desert into a huge solar farm?
The statistics are mind-boggling. If the desert were a country, it would be fifth biggest in the world – it’s larger than Brazil and slightly smaller than China and the US. Each square metre receives, on average, between 2,000 and 3,000 kilowatt hours of solar energy per year, according to NASA estimates. Given the Sahara
April 26, 2019 in Energy -
Revealed: the top 10 workplaces in the UAE
Great Place to Work, a global research, training and consultancy firm that awards the best workplaces in over 50 countries worldwide, has revealed its ninth annual list of Best Workplaces in the UAE. The 2019 UAE Great Place to Work list features 30 companies from a broad spectrum of industries and is topped by logistics
April 25, 2019 in Business News -
Defy ramps up SA production with R1bn investment
Home appliance brand Defy, a subsidiary of Arcelik Global, has invested more than R1billion in upgrading three local production centres to serve as its strategic manufacturing hub. Fundamental to this endeavour is an investment of R130 million at the Jacobs factory located in Durban to produce 6kg, 7.5kg and 10kg top loader washing machines. Through
April 25, 2019 in Manufacturing -
SA Bank of Athens repositioning as Grobank
Against the background of South Africa’s rapidly evolving and expanding banking landscape, where digital solutions and low-cost operating models have become some of the top challenges, the former South African Bank of Athens has repositioned itself as a new banking entity – Grobank. Spiro Georgopoulos The Grobank brand reflects the transaction that concluded in October
April 25, 2019 in Investments -
Trump’s crackdown on Iran’s oil exports could backfire badly
The US has unnerved the world oil market by ramping up the pressure in its long-running dispute with Iran. It has announced that, after May 1, it won’t renew the exemptions given to eight countries that enable them to buy Iranian oil. Those affected, which include China, India, Japan, Italy and South Korea, will face
April 25, 2019 in Investments -
ExxonMobil increases its Namibian exploration stake
ExxonMobil has increased its offshore exploration acreage in Namibia with the addition of approximately 28,000km2. The company signed an agreement with the government of Namibia and the National Petroleum Corporation of Namibia (Namcor) for blocks 1710 and 1810, and farm-in agreements with the latter for blocks 1711 and 1811A. The blocks extend from the shoreline
April 25, 2019 in Investments -
Emirati woman wakes up after 27 years in a coma
An Emirati woman opened her eyes and regained consciousness after spending 27 years in a coma induced by a serious brain injury, her family said Wednesday. Munira Omar was 32 when she was injured in a road traffic accident in 1991 after picking up her son Omar from school in the city of Al Ain.
April 25, 2019 in Business News -
Boeing reports lower profits amid 737 MAX crisis
Boeing on Wednesday reported lower first-quarter profits as the global grounding of its 737 MAX plane following two crashes hit earnings. The results are the first since the company entered crisis mode with the March 10 crash of an Ethiopian Airlines jet, which along with an October Lion Air crash claimed 346 lives. The US
April 24, 2019 in Business News -
Namibia revises electricity buying market model
The Namibian Cabinet has approved a revised market model, which will allow independent power producers (IPPs) to sell electricity directly to customers and not just to the Namibia Power Corporation (NamPower). This will also stimulate competition as well as private sector investment, said Stanley Simataa, information and communication technology minister. “Since we are opening up,
April 24, 2019 in Investments -
US still sees Africa as important. But it must learn from past mistakes
In December last year the US National Security Advisor, John Bolton, gave a speech at the Heritage Foundation in Washington DC, in which he outlined the Trump administration’s new Africa strategy. US National Security Advisor John Bolton sees China as a threat to Washington in Africa. EPA-EFE/Shawn Thew According to Bolton, the US now faces
April 24, 2019 in Investments -
New speakers added to Inaugural Exponential Finance Summit programme
SingularityU South Africa brings together over 20 global thought leaders in technology, finance, and investment Benjamin Rosman Catherine Wood Geci Karuri Sebina Manu Sharma Phathizwe Malinga Tanya Knowles SingularityU South Africa has announced that more speakers have been added to the programme for the inaugural Exponential Finance Summit, which will take place at the Cape
April 24, 2019 in Investments -
UAE launches world’s first Ministry of Possibilities
The United Arab Emirates on Tuesday unveiled a new branch of government, a Ministry of Possibilities, three years after launching a department in charge of happiness. Sheikh Mohammed bin Rashid Al-Maktoum, the UAE’s premier and ruler of Dubai, said the “unconventional” ministry would function “without a minister” but with input from the whole cabinet. “We
April 23, 2019 in Business News -
Why you should invest in property sooner rather than later
If you want to set yourself up for long term financial gain, investing in property is an excellent way of ensuring this and the sooner you start climbing the property ladder the sooner you start creating wealth. For a first-time property buyer, the younger you are when you enter the property market the better. If
April 23, 2019 in Property & Real Estate -
African countries need to manage the rising power of credit rating agencies
Shutterstock One route to raise capital has been the issuing of sovereign bonds on international financial markets. But to do this successfully, governments need a sovereign credit rating from at least one of the three dominant international credit rating agencies. These are Standard & Poor’s (S&P), Moody’s and Fitch. The number of African countries seeking
April 23, 2019 in Investments -
Lenders cut rates on Network’s $328m loan before London IPO
Network International’s share sale earlier this month was one of Europe’s biggest offering this year. The Network International IPO allows shareholders Emirates NBD PJSC, Warburg Pincus and General Atlantic to reduce their stakes in the company. Lenders to Dubai-based card payments processing firm Network International LCC cut interest rates on a $328 million acquisition loan
April 23, 2019 in Business News -
Riyadh says committed to stabilising oil market
Riyadh is committed to “stabilise” the oil market after a US decision to end sanction exemptions for Iran’s customers, Saudi Arabia’s Energy Minister Khalid al-Falih said Monday. “The kingdom reaffirms its longstanding policy, which seeks to stabilise the markets at all times,” he said in a statement carried by the official Saudi Press Agency. “The
April 22, 2019 in Business News -
Eight arrested in connection with Sri Lanka blasts
At least two of the blasts involved suicide bombers, according to sources Sri Lankan officials inspect St Sebastian’s Church in Negombo north of Colombo. Eight people have been arrested in connection with a string of deadly blasts that killed more than 200 people in Sri Lanka on Sunday, the country’s prime minister said. Prime Minister
April 22, 2019 in Business News -
Pakistan’s Imran Khan appoints new finance chief amid IMF talks
Pakistan named Abdul Hafeez Shaikh as finance advisor hours after the resignation of Asad Umar as the country continues to negotiate an International Monetary Fund bailout. Prime Minister Imran Khan appointed Shaikh in a cabinet reshuffle, according to a government statement on Thursday. Shaikh takes on the role of finance chief for a second time
April 21, 2019 in Business News -
Dubai offers investment opportunities in major public parks
Dubai Municipality says investors are being sought for Creek Park, Mamzar Smart Park, Mushrif Park, Zabeel Park and Safa Park in addition to the Quranic Park Investors are being sought for Creek Park, Mamzar Smart Park, Mushrif Park, Zabeel Park and Safa Park in addition to the Quranic Park. Dubai Municipality has announced several investment
April 20, 2019 in Business News -
UAE attracts about 2,000 millionaires as wealth migration grows
About 2,000 high net-worth individuals (HNWIs), each with at least $1 million worth of net assets, moved into the UAE in 2018, according to new research. The Global Wealth Migration Report for 2019, developed by AfrAsia Bank and New World Wealth, said the number of wealthy migrants in the UAE rose by two percent in
April 20, 2019 in Business News -
Opinion: why Expo 2020 is at the heart of the UAE’s future
Expo 2020 Dubai’s aims stretch far beyond hosting a spectacular mega event to impress the world. We are making a long term investment in the future of our country that will significantly boost the UAE economy, helping spur growth and support jobs for many years to come. Global consultancy EY’s recent independently published report illustrates
April 19, 2019 in Business News -
Aldar sells out new Yas Island project with $108m deals
Aldar Properties’ latest development, Lea, located on the northern shores of Yas Island, has sold out during Cityscape Abu Dhabi generating over AED400 million ($108 million) in sales. Offering land plots starting at AED990,000 and available for purchase by all nationalities, Lea features 238 residential plots adjacent to Aldar’s flagship Yas Acres project. This most
April 18, 2019 in Business News -
50 shades of financial privacy
Privacy is widely held as a fundamental human right and is recognised in the UN Declaration of Human Rights, the International Covenant on Civil and Political Rights and in the Constitution of nearly every country in the world. Riccardo Spagni Privacy is becoming a growing concern as the world continues its mass digitisation. As we
April 18, 2019 in Investments -
Mohamed Salah calls for change in treatment of women in Muslim world
Egyptian football star Mohamed Salah Salah said while his attitudes towards gender equality had evolved over the years, he wanted to see more change. Mo Salah is an icon in Egypt after helping the country qualify for the 2018 World Cup, the first time they had reached the finals of the event since 1990. He
April 18, 2019 in Business News -
Makerspaces are co-working institutions as well
Co-working is an experience. There is a synergy created when people work together on their own projects and ventures. Between 2006 and 2015, a few studies have shown the number of co-working spaces and available seats has roughly doubled each year. It is no coincidence that the number of makerspaces has also increased during the
April 18, 2019 in Manufacturing -
20-carat Okavango Blue diamond unveiled
The biggest blue diamond discovery ever made in Botswana has been unveiled to the world by Okavango Diamond Company (ODC). The oval-shaped stone weighs over 20 carats and has been graded as a Type IIb Fancy Deep Blue. The Gemological Institute of America (GIA), has graded the diamond as an oval brilliant cut, VVS2 clarity,
April 18, 2019 in Investments -
Etihad-backed Jet Airways suspends all operations
Jet Airways India on Wednesday suspended operations after the cash-strapped carrier that once ranked as the nation’s biggest by market value failed to secure a bailout. The Mumbai-based company has taken a decision to halt flights on a “temporary” basis from Thursday, it said in a statement, when the last service was scheduled to take
April 17, 2019 in Business News -
Mauritius still preferred by fund managers
Not just the ultimate holiday stop, Mauritius is also a preferred jurisdiction for fund managers looking to establish African-focused funds. The island’s main competitive advantage is its proximity to the jurisdictions that African-focused funds invest in, but it is also business oriented and regulation friendly, with enviable tax efficiencies. It is known for the high
April 17, 2019 in Investments -
how to stop Australian miners abroad being linked to death and destruction
Image: Richards Bay Minerals The mining company, Transworld Energy and Mineral Resources, was until 2016 a subsidiary of Australian company Mineral Commodities Limited. The local community’s fight against Transworld goes back more than a decade. Last week a “consultation” meeting ended with police firing stun grenades. In November the mine’s opponents won an important legal
April 17, 2019 in Investments -
RE/MAX Q1 2019 housing report indicates signs of a changing market
According to Lightstone Property data, a total of 39,836 bond registrations were recorded at the Deeds Office over the period January to March 2019, totalling an amount of R43,880,124,000. This translates into a 5.7% decrease in the amount of bonds registered since the last quarter of 2018. The number of transfers (both bonded and unbonded)
April 17, 2019 in Property & Real Estate -
Why you should invest in the industrial property sector in 2019
Industrial property’s top performance is comparison to other sectors is likely to continue going forward, according to Tony Bales, industrial property expert at Epping Property, who says that the poor performance of the listed property sector during 2018 was thankfully not a function of a bad industrial property market. “For example, Equites Property Fund, a
April 17, 2019 in Investments -
Rekindling hope is the missing elixir needed to fix South Africa’s economy
South Africa’s election season is underway. But current debates are stuck in a time warp. The country needs to look beyond the familiar nostrums that have held sway for much of its first decades of democracy. South Africa urgently needs to get its economy moving again. Shutterstock In his February, 2019 State of the Nation
April 17, 2019 in Investments -
US footwear brand opens largest international store in Dubai
Steve Madden has relocated its Dubai Mall store, making it the company’s largest outside of its home market Steve Madden currently has 19 stores in the UAE and a total of 39 outlets in the GCC region. US footwear brand Steve Madden has relocated its Dubai Mall store, making it the company’s largest outside of
April 17, 2019 in Business News -
five essential reads to help you understand Britain’s relationship with the EU right now
Nearly three years after the British public voted to leave the European Union, it is no exaggeration to say that a solution is no closer to being found. Indeed, Brexit looks more difficult and perhaps more distant than ever. Theresa May has been at loggerheads with parliament for months. EPA/Mark Duffy How did one of
April 16, 2019 in Investments -
Investors joining Saudi stocks’ big moment have to pay a premium
Saudi Arabia’s $568bn stock market – Tadawul – has been attracting foreigners as they position for the inclusions by MSCI, over two tranches, and by FTSE Russell The biggest stock market in the Arab world, which will begin to be included in the emerging-markets group by index compiler MSCI next month, is trading at the
April 16, 2019 in Business News -
India’s Jet Airways extends grounding of international flights
The crisis in Indian carrier Jet Airways deepened on Monday, with the airline extending cancellation of its international operations until Thursday. Jet Airways management, which has yet not made any headway in getting the promised $216 million interim financial support from its lenders’ consortum, has also convened an urgent meeting of its board of directors
April 15, 2019 in Business News -
Two million TEUs have gone through Gulftainer’s Iraq terminals since 2009
UAE-based Gulftainer, the world’s largest privately-owned independent port operator, has registered container volumes of two million twenty-foot equivalent units (TEUs) at the Iraq Container Terminal in the southern Iraqi port of Umm Al Qasr port since beginning operations there nine years ago, the company has announced. Gulftainer was the first foreign investor to launch a
April 15, 2019 in Business News -
Olivier Harnisch steps down as Emaar Hospitality CEO
Emaar Hospitality CEO Olivier Harnisch has stepped down from his role “to pursue new interests”, according to a company spokesperson. “We can confirm that Olivier Harnisch is leaving Emaar Hospitality Group to pursue new interests,” the spokesperson said. “We thank him for his contribution to Emaar Hospitality Group and wish him the best In a
April 14, 2019 in Business News -
RTA chief tours world’s first robotic licence plates factory in Dubai
Mattar Al Tayer inaugurates factory that uses robots in the manufacturing of vehicle number plates, with a capacity of 33,000 plates per day Mattar Al Tayer toured the factory, which is located at the Customers Happiness Centre in Deira . The Roads and Transport Authority (RTA) has launched the world’s first factory that uses robots
April 13, 2019 in Business News -
Emirates completes liveries on Dubai Expo 2020 mini-fleet
Emirates has completed the installation of bespoke Expo 2020 Dubai liveries on 40 aircraft, with its final A380 aircraft emblazoned in the distinctive decal rolling out of the Emirates Engineering hangar. The first decal was unveiled in 2017 and since then, Emirates’ mini-fleet of Expo 2020 Dubai aircraft have collectively flown to 134 destinations across
April 13, 2019 in Business News -
Kuwait News: Former exec sues Kuwait-backed firm over age discrimination
The former head of real estate at Wafra Investment Advisory Group has sued the Kuwait-backed firm and its CEO Fawaz Al-Mubaraki claiming he was illegally fired because of his age. Francis “Frank” Lively, 64, was ousted in the spring of 2018 after he was accused of sexual harassment and discrimination by Sabine Kraut, a vice
April 12, 2019 in Business News -
Is the UK stuck in Brexit limbo?
The UK has been granted its second extension to the Article 50 deadline, averting a no-deal Brexit that would have happened today (12 April). The Brits now has until 31 October to ratify the current Withdrawal Agreement, although there was some disagreement amongst other EU members as to how much longer the UK should be
April 12, 2019 in Investments -
Africa to remain a compelling property investment destination
Knight Frank has published its new Africa Horizons report highlighting that office yields remained largely stable in most African markets over the past two years, anchored by patient domestic capital as local investors assume a longer-term perspective. Of the 35 office markets covered, yield remained stable in 16 locations in the two years to 2018
April 12, 2019 in Property & Real Estate -
Uber files documents for IPO after Careem deal
Uber filed documents Thursday for its much-anticipated public share offering expected to be the largest in the tech sector in years, and a bellwether for other venture-backed startups eyeing Wall Street listing. The filing with the Securities and Exchange Commission contained no specific pricing or timing for the market debut for Uber, which according to
April 11, 2019 in Business News -
US-Africa pension funds explore investment opportunties
The latest figures released by the African Development Bank suggest the continent’s infrastructure needs amount to between $130-170bn a year, with a current financing gap of $67-$107bn per annum. Given this financing gap, Africa offers vast opportunity for the investor base. On the other hand, at $10trn, public pension funds account for the largest pool
April 11, 2019 in Investments -
Sun Exchange to solar power several Western Cape schools
Supported by the Western Cape Department of Education and the Western Cape Department of Economic Opportunities, Sun Exchange has announced plans to solar power several Western Cape schools via its global funding platform. The first school in the series will be Protea Heights Academy in Cape Town. Through Sun Exchange, people across the globe will
April 11, 2019 in Energy -
Emaar Hospitality to ‘slow down’ on hotel expansion plans
Emaar Hospitality will focus on its current projects and “slow down” on further expansion, according to its CEO. The Dubai-listed hospitality group has 39 projects in its current pipeline, which CEO Olivier Harnisch said “is a lot for a company of our size”. “We currently operate 18 hotels and residences so we’ve decided to slow down
April 11, 2019 in Business News -
Global luxury industry shifts gaze to Africa
The fifth annual Condé Nast International (CNI) Luxury Conference kicked off in Cape Town yesterday, bringing some of the biggest names in global luxury to African soil – from Gucci, Pucci and Tiffany & Co., to Estée Lauder Companies, Salvatore Ferragamo and Naomi Campbell herself. Naomi Campbell; Jonathan Newhouse, chairman and chief executive, Condé Nast
April 11, 2019 in Manufacturing -
India bans Narendra Modi film until after mega-election
India banned Wednesday the release of a biopic about Prime Minister Narendra Modi during the country’s marathon elections after complaints that the flattering portrayal would give the ruling party an unfair advantage. Modi’s right wing Bharatiya Janata Party (BJP) is seeking a second term, defending a landslide win over the opposition Congress party in 2014.
April 10, 2019 in Business News -
R400m food manufacturing plant launches in Gauteng
The doors have officially opened to a new 22,700m² food production facility belonging to In2food, in the OR Tambo Special Economic Zone in Johannesburg. Described as the largest and most diverse ultra-fresh food facility of its kind in the southern hemisphere, and the second largest C02 refrigeration facility in the world, the new Bonaero site
April 10, 2019 in Manufacturing -
Sweden-funded clean energy programme benefits 500,000 Zambians
The Beyond the Grid Fund for Zambia (BGFZ) has resulted in 100,000 Zambian households having gained access to clean energy. Funded by Sweden and managed by the Renewable Energy and Energy Efficiency Partnership (REEEP), BGFZ was launched in 2016 with the aim to expand access to clean, reliable, affordable off-grid energy in rural and peri-urban
April 10, 2019 in Energy -
Cape Town property remains an attractive option for foreign buyers
Moody’s decision to keep South Africa’s credit rating stable is an incredibly positive one that ought to stimulate foreign investment within the country, says Adrian Goslett, regional director and CEO of RE/MAX of Southern Africa. “The housing market has had several wins over the last few weeks – the first of which being the MPC’s
April 10, 2019 in Property & Real Estate -
Saudi News: Saudi tourist falls, drowns in Nile while taking selfie
The tourist was with a group of friends visiting Kalagala Falls in central Uganda The tourist was with a group of friends visiting Kalagala Falls in central Uganda, a popular spot whose raging rapids are popular among kayakers, when the accident happened. A Saudi tourist drowned after he slipped and fell into the River Nile
April 10, 2019 in Business News -
Kenya property sector set to boom in 2019
Kenya’s real estate industry is set to boom once again in 2019, following a stagnant economy brought on by political turmoil. The boom is a result of a growing middle class, rapid urbanisation, which is currently at 4.3% per annum against global averages of 2.0%, coupled with other demographic trends. BuyRentKenya.com CEO Lizzie Costabir For
April 9, 2019 in Property & Real Estate -
Eskom implements winter plan, but urges SA to use power sparingly
Eskom has reviewed its winter plan, but has cautioned the country to use electricity sparingly as the demand for power is expected to increase this week as cold weather gets a grip on parts of South Africa. “We have done an extensive winter plan and review of our power system and identified the problems. While
April 9, 2019 in Investments -
How did load shedding impact the fiscus?
While a diesel shipment arrived and provided relief to the dire stage 4 load shedding in South Africa last month, this may be short-lived if the boiler tubes are not repaired by the time the diesel is burnt by the open-cycle gas turbines. “We have recently seen many articles about how the economy is hurting
April 9, 2019 in Investments -
Lebanon approves plan to provide electricity 24 hours a day
The Lebanese government on Monday approved a plan to reform its electricity sector, vowing to provide power 24 hours a day from a grid notorious for blackouts. The decision is the most significant by the cabinet since it was formed in late January and is a step towards unlocking billions in aid pledged to Lebanon
April 9, 2019 in Business News -
The next phase of real estate financing in Africa
For a long time, the most prominent players in the African property sector have been private equity or other institutional investors. It is also true that there has been an obvious gulf between demand and supply in all property sectors (commercial, industrial and residential) across many markets on the continent. Selwyn Blieden is the moderator
April 9, 2019 in Property & Real Estate -
Rwanda’s economic growth could be derailed by its autocratic regime
Security is tight in Rwanda’s authoritarian state. Charles Shoemaker/EPA An estimated three quarters of Rwanda’s Tutsi minority perished in the genocide that was presided over by the Hutu-dominated government. At the same time, tens of thousands of Hutu were massacred by the Tutsi-dominated Rwandan Patriotic Front (RPF). When the fighting ended in July 1994, the
April 9, 2019 in Investments -
Hot competition for the humble zipper
Combine two rows of fine teeth that lock together, a slider and a tab, and all of a sudden you have a quick way of securely closing a bag, jacket or pair of pants – a zipper. Image credit: Visual Hunt These handy, everyday devices were invented in the United States more than a century
April 9, 2019 in Manufacturing -
Van Dyck Floors, Nouwens Carpets consolidate operations
Nouwens Carpets and South Africa’s oldest carpet manufacturer, Van Dyck Floors, will consolidate their operations in order to streamline and optimise their manufacturing and supply chains. Dr Mehran Zarrebini, CEO of PFE International. Dr Mehran Zarrebini, CEO of PFE International, the family-owned British investment company that acquired what was then Van Dyck Carpets in 2004,
April 9, 2019 in Manufacturing -
who operates the most hotel rooms in the Middle East
Accor and Marriott International maintain the top room counts among parent companies operating in the Middle East, according to STR. Figures released ahead of this week’s Arabian Hotel Investment Conference (AHIC) in Ras Al Khaimah reveal that Accor (34,327 hotel rooms) and Marriott International (33,757) were the only two companies with at least 30,000 rooms
April 8, 2019 in Business News -
Dubai News: Dubai to slash taxi rates at Al Maktoum during DXB runway closure
Dubai Taxi Corporation to give 75% discount on the starting fare for passengers arriving at Al Maktoum International Airport DTC has also introduced a shared taxi service at DWC, which will reduce the fare for arriving passengers. Dubai RTA’s Dubai Taxi Corporation (DTC) announced a significant discount in taxi flag down rate for passengers arriving
April 8, 2019 in Business News -
Middle East the only region to report decline in airline passenger demand in February
Middle East-based airlines reported a 0.8 percent drop in international passenger demand in February, the only region in the world to report a year-on-year decline, according to the latest industry figures. With demand falling and overall capacity rising 2.9 percent, average load factors fell 2.7 percentage points to 72.6 percent. “Broadly speaking, passenger volumes of
April 7, 2019 in Business News -
Abu Dhabi News: Abu Dhabi property prices, rents fall marginally during Q1
Property prices and rents in Abu Dhabi have fallen marginally during the first quarter of 2019, according to new research. Bayut.com’s Abu Dhabi Q1 2019 Property Market Report said a large portfolio of affordable properties has led to a high amount of interest in the Abu Dhabi property market. It said areas such as MBZ
April 6, 2019 in Business News -
Saudi News: Interest in Saudi Aramco bond sale said to reach $26bn
In a bond sale closely watched by investors globally, Saudi Aramco and its bankers are preparing to kick off what could be at least a $10 billion offering next week. Early indications suggest investors are already crowding in. A message circulated among investors on Friday said interest in the most highly anticipated sale of the
April 6, 2019 in Business News -
Dubai News: Comedian Russell Peters to be first act at new Dubai Arena
Comedian Russell Peters will be the first star to appear on stage at Dubai Arena, it has been announced. The stand-up star will return to Dubai on Thursday June 6, making him the first act to perform at the new venue at City Walk. Tickets will go on sale at 1pm on Sunday, with tickets
April 5, 2019 in Business News -
understanding Brexit, Theresa May and the British humiliation
European Council president Donald Tusk visits Downing Street in 2018. EPA In fairness, if blame and ridicule is to be allotted for this sorry state of affairs, then it should really go to David Cameron, the prime minister who led the UK into its Brexit referendum and then promptly exited once the result was returned.
April 5, 2019 in Investments -
The rapid pace of innovation and disruption. What does it meant to investors?
We believe there is no greater force for driving growth and creating value in the economy than innovation. Start-ups, multinational corporations and companies of every size in-between trumpet their innovative products and services. They create centres of innovation and boast of the myriad ways in which they empower employees to think creatively and bring new
April 5, 2019 in Investments -
Saudi News: Saudi’s SALIC makes first Australian farming acquisition
A unit of the Saudi Agricultural and Livestock Investment Company (SALIC) has announced the acquisition of Baladjie, an aggregation of over 200,000 hectares of farming in Western Australia’s wheat belt that also carries a 40,000-head Merino sheep flock. The aggregation comprised John and Julie Nicoletti’s farming interests and other third-party options. The transaction closed on
April 4, 2019 in Business News -
SoftBank to seek $15bn more for its huge tech fund
For SoftBank Group, $100 billion isn’t enough. The Japanese conglomerate, which has reshaped the technology start-up landscape with its Saudi-backed Vision Fund, is in talks with investors to add as much as $15 billion more to its already-massive fund, said people familiar with the discussions. In about two years, the Vision Fund has invested more
April 4, 2019 in Business News -
Closing Africa’s infrastructure gap
Never before has the need for infrastructure felt so immediate and acute. This became apparent to me as I travelled to Nairobi, Lagos, Lusaka and Gaborone during the first three months of this year. Gerald Gondo, business development executive, RisCura A commonality I saw across all these African cities — the yellow metal equipment either
April 4, 2019 in Investments -
who is taking part in the World Economic Forum MENA?
The World Economic Forum on the Middle East and North Africa will be held at the Dead Sea in Jordan on this weekend in partnership with the King Abdullah II Fund for Development (KAFD). This will be the 10th meeting in Jordan and 17th meeting in the region and will convene more than 1,000 government,
April 3, 2019 in Business News -
Trade, Investment Promotions and Economic Development Programme in Johannesburg and Durban!
The Trade, Investment Promotion and Economic Development Programme (TIPED) is designed to provide a seamless pipeline to build South Africa’s capacity to lead and manage strategic and sustainable investment, both inwards to the country and in building the country’s export capacity to global markets, in line with the strategic goals and objectives of key stakeholders.
April 3, 2019 in Investments -
Bitcoin on the rise again
After it’s staggering rise and subsequent substantial fall, Bitcoin seems to be on the upward trajectory again, with a 20% jump in price in less than an hour on Tuesday. The cryptocurrency’s price crossed the $5,000 mark, touching the highest level since November 2017. All other major cryptocurrencies, including Ethereum, XRP and Litecoin have experienced
April 3, 2019 in Investments -
How to make your tax returns work in your favour
Through wise investment and managed expenditure, property investors can reduce the amount of money owed to the South African Revenue Service (SARS), explains Craig Hutchison, CEO Engel & Völkers Southern Africa. The benefit of owning an investment property, whether it be in an individual capacity, as a company or in a trust, is that all
April 3, 2019 in Property & Real Estate -
Uber, Careem deal set to be completed in 7-8 months
Uber’s acquisition of Dubai-based ride hailing app Careem will be completed within seven or eight months, the companies’ CEOs have confirmed. The timeline for the $3.1 billion merger was discussed during a meeting between Sheikh Maktoum bin Mohammed bin Rashid Al Maktoum, Deputy Ruler of Dubai, and Dara Khosrowshahi, CEO of Uber, and Mudassir Sheikha,
April 3, 2019 in Business News -
Inside Emirates airline’s plans to be the ‘Netflix of the skies’
Emirates airline will begin offering tailored, Netflix-style personalised content in 2020, according to Patrick Brannelly, the airline’s divisional vice president of customer experience, in-flight entertainment and connectivity. In an exclusive interview with Arabian Business, Brannelly said that the airline’s in-flight entertainment system will allow passengers to log-in and be presented with tailored offerings matching previous
April 2, 2019 in Business News -
What Moody’s silence means for homeowners
International credit ratings agency Moody’s was scheduled to make an announcement on South Africa’s credit rating on Friday, 29 March. However, the agency failed to announce an updated rating for South Africa, leaving investors and economists divided on the potential outcome for the country. By remaining quiet, Moody’s has given itself more time to review
April 2, 2019 in Property & Real Estate -
Updated titles provide useful start for 2019 financial planning decisions
The new year brings new opportunities for success, but sound financial decisions require a big picture view and understanding of the South African financial planning and regulatory environment. Updated for 2019, LexisNexis Financial Services titles provide direct access to the most comprehensive and up-to-date content enabling decision making and recommendations to be made with complete
April 1, 2019 in Investments -
Saudi News: Saudi Arabia executes four for drug trafficking
Saudi Arabia’s interior ministry said four people were executed Monday for drug trafficking, including one woman, bringing to 53 the number of people put to death this year. Two Pakistani men, a Yemeni man and a Nigerian woman were executed in the holy city of Mecca, the ministry said in statements carried by the official
April 1, 2019 in Business News -
Canada shows interest in mining investment
Regulatory uncertainty, lack of policy cohesion, infrastructural constraints and, in some instances, politics across Africa are clearly seen as deterrents, but there is great potential to attract investment if these issues can be addressed. Image source: Getty/Gallo The recent Prospectors and Developers Association of Canada (PDAC) Convention held in Toronto attracted more than 25,000 delegates,
April 1, 2019 in Investments -
It’s all going to the dogs
One of the first principles in investing is to buy low and sell high. A second principle is to avoid the risk of doing the exact opposite, namely buying high and selling low. Dr Adrian Saville, CEO of Cannon Asset Managers While these two principles seem patently obvious, they can be challenging to implement, even
April 1, 2019 in Investments -
Office sector dominates investment growth in commercial real estate market in 2018
According to JLL Sub-Saharan Africa’s recently released 2018 Investment Review, an annual analysis of investment activity in the South African commercial real estate market, investment activity recovered notably year-on-year, with transaction activity reaching R19bn from just R11.6bn in 2017. This is partly attributed to a marked improvement in investor confidence on the back of Cyril
April 1, 2019 in Property & Real Estate -
Osman Sultan, Sweden win top honours at Arabian Business Tech Awards
Du CEO Osman Sultan was awarded the ‘Lifetime Achievement of the Year’ award at the Arabian Business Technology Awards on Sunday, recognising his 30 years in the industry and at the forefront of the UAE’s telecoms industry. Since Sultan founded Du as the UAE’s second telecom provider in 2006, the company has risen to gain
April 1, 2019 in Business News -
Dubai News: LC Well launches in Dubai
Well Bring Company LC Well has launched in Dubai, hoping to promote “a happier, peaceful and better world.” Founded by businessman Lal Chand, the company will organise lectures, courses, workshops, seminars, conferences, campaigns and movements all around the world, using positive psychology (the science of happiness), mindfulness, neuroscience of the conscious and unconscious mind, and
March 31, 2019 in Business News -
Dubai News: Sheikh Mohammed’s Thunder Snow makes history with second Dubai World Cup
Thunder Snow landed the $12 million prize for Godolphin owned by Dubai ruler Sheikh Mohammed Thunder Snow wins Dubai World Cup with jockey Christophe Soumillon. Image: Mathea Kelley/Meydan Racing. Thunder Snow made history on Saturday by becoming the first dual winner in the Dubai World Cup with a thrilling victory over Gronkowski at Meydan.
March 30, 2019 in Business News -
Saudi News: Germany extends weapons embargo on Saudi Arabia
German Chancellor Angela Merkel’s government has extended a weapons embargo on Saudi Arabia for six months, resolving a dispute in the ruling coalition over European defence projects. The halt to weapons deliveries will run until September 30 and no new contracts would be permitted during that time frame, government spokesman Steffen Seibert said in an
March 29, 2019 in Business News -
Moody’s blues could hit SA
Moody’s Investor Service is the the only credit rating agency yet to downgrade the country to junk status. But whether this will happen today is anyone’s guess. Even economists are divided as to whether junk is on the cards or not. Having adopted a cautiously optimistic “wait and see approach” since 2017, a less than
March 29, 2019 in Investments -
The growing menace of cryptocurrency exchange hacks
There are many reasons cryptocurrencies are inherently attractive to hackers. One of the biggest reasons is a lack of heavy regulation compared with the traditional financial industry. There simply aren’t as many stringent, mandatory technical and administrative protection measures in place. Simon McCollough is major channel account manager, F5 Networks Security can be lax, and
March 29, 2019 in Investments -
Stable repo rate underpins ongoing resilience of residential property market
With inflation currently below the mid-point of the Reserve Bank’s inflation target and economic growth remaining sluggish, the Monetary Policy Committee kept the repo rate steady at 6.75%, as expected. This decision is a positive outcome for many consumers. With the jury still out until today, when Moody’s makes its announcement regarding South Africa’s credit
March 29, 2019 in Property & Real Estate -
No rate hike a welcome relief, but likely short lived
The decision by the Monetary Policy Committee (MPC) of the Reserve Bank to keep the repo rate unchanged at 6.75% (base home loan rate at 10.25%) is welcome news for the property market, but likely to be short-lived. While it is unlikely to be a boost for the market, it does offer some relief for
March 29, 2019 in Property & Real Estate -
Saudi News: Saudi Arabia plans team to compete in world powerboat championship
Saudi Arabia is planning to put together its own team to compete in the F1H2O Powerboat World Championship as it seeks to encourage more Saudis to take part in water sports. Prince Sultan bin Fahad bin Abdulaziz, chairman of the Saudi Water Sports and Diving Federation (SWSDF), revealed the plan as he announced the completion
March 29, 2019 in Business News -
Developing artisan skills for the future
Twenty years ago, there were in excess of 50,000 to 70,000 artisans employed throughout the mining, manufacturing, construction and local authorities’ sectors in South Africa. Today the country has less than 3,000 artisans. The industry has realised this and the result is a massive demand for artisan training. ©Wirapong Samlee via 123RF Trying to address
March 28, 2019 in Manufacturing -
Saudi News: Saudi Aramco buys $69bn stake in Sabic in record Middle East deal
Saudi state oil giant Aramco said Wednesday it is buying a majority stake in petrochemicals behemoth SABIC for $69.1 billion, a deal that gives the crown prince’s ambitious reform programme a massive cash boost. The 70-percent stake purchase effectively merges the kingdom’s two largest companies, handing its top sovereign wealth fund around the same amount it
March 28, 2019 in Business News -
Cooperation and economic growth in Africa
Africa must prioritise domestic revenue mobilisation to triple growth and meet its development goals and targets over the next few decades. An increase of 12-20% in tax collection can raise up to $400bn and go a long way in funding $600bn financing gap Africa faces. But that will also require fiscal prudence to strengthen a
March 28, 2019 in Investments -
Saudi News: Saudi Aramco says to buy $69bn stake in Sabic
Saudi Aramco will buy a majority stake in Saudi Basic Industries Corp from the kingdom’s sovereign wealth fund as the world’s biggest oil firm turns its attention to petrochemicals. The deal, first mooted last year, values the Public Investment Fund’s 70 percent stake at $69.1 billion, or 123.4 riyals per share, according to a statement.
March 27, 2019 in Business News -
Rands and cents of buying low
With mortgage grants slowing down, and the supply of homes exceeding demand, is this the right time to invest in a new home? After something of a mini-recovery in new mortgage loans granted through 2017 to early-2018, the second half of 2018 proved to be a weak period for new mortgage lending. However, according to
March 27, 2019 in Property & Real Estate -
Rwanda’s economic growth has given its strong state even more power
Rwandan President Paul Kagame. Rwanda has a booming economy that is controlled by an authoritarian regime Christian Marquardt/EPA-EFE Rwanda stands out for many good things. It has the highest number of women in politics anywhere in the world. More than half the members of Parliament in the country’s lower house are female. Rwanda also has
March 27, 2019 in Investments -
The next-generation technologies shaping the manufacturing sector
In recent years, digital transformation has been responsible for driving significant change in the industrial world. Manufacturers are already instigating digitalisation by embracing technologies such as cloud computing, 4G, and powerful 2-in-1 laptops, striving to deliver the workplace mobility, productivity, and security to enable them to move from mass production to customised production. According to
March 27, 2019 in Manufacturing -
Dr Sedise Moseneke appointed chairman of Property Sector Charter Council
Dr Sedise Moseneke has been named the new chairman of the Property Sector Charter Council (PSCC). The council is responsible for implementing transformation in the property sector. Dr Sedise Moseneke, chairman, Property Sector Charter Council Moseneke heads the SA REIT Association’s Property Sector Charter Committee and is an executive director at the JSE-listed Vukile Property
March 27, 2019 in Property & Real Estate -
Dubai News: What Dubai’s ruler thinks of Uber’s $3.1bn deal for Careem
Dubai ruler Sheikh Mohammed bin Rashid Al Maktoum on Tuesday hailed Careem and e-commerce firm Souq.com for emerging from the “deserts of Dubai”. Sheikh Mohammed, also Prime Minister and Vice President of the UAE, said the acquisition of both companies by global giants justified the emirate’s decision to prioritise the internet and e-commerce 20 years
March 27, 2019 in Business News -
Abu Dhabi News: Abu Dhabi’s Mubadala eyes investment deals in Uzbekistan
Agreements signs to explore future partnerships in conventional power, renewables and oil and gas Khaldoon Al Mubarak, CEO and managing director, Mubadala Investment Company and Sardor Umurzakov, Minister of Investments and Foreign Trade to the Republic of Uzbekistan concluded an agreement. Abu Dhabi’s Mubadala Investment Company has exchanged a set of strategic agreements with the
March 26, 2019 in Business News -
These are the top performing suburbs in the Western Cape
While looking at past performance by no means guarantees similar future performance, it can provide investors with an insight into where some of the investment hotspots might be in the year ahead. According to RE/MAX of Southern Africa statistics for 2018, our network completed the highest number of transactions in and around the suburbs of
March 26, 2019 in Property & Real Estate -
Environmental trends sustain growth of palladium and rhodium ETF values in 2019
Both palladium and rhodium are now more valuable than gold and platinum on an ounce-for-ounce basis, thanks to their current demand as the catalytic material of choice in an increasingly emissions-conscious age. Johann Erasmus, head of ETFs, Standard Bank. In fact, the US dollar price of both palladium and rhodium has increased by 40% and
March 26, 2019 in Investments -
Policy exemption allows SA investors to buy into top Swiss resort
South Africans seeking to diversify their investment portfolios are now able to buy into the biggest ski resort in Europe at competitive prices with significant tax incentives and highly attractive returns. The Andermatt ski resort in the Swiss Alps has been transformed by Orascom Development from a traditional alpine village into one of the world’s
March 26, 2019 in Property & Real Estate -
Dubai News: Revealed: average Dubai property price falls to $710,000
The average house price in Dubai decreased to AED2.6 million ($710,000) in February, as values continue to fall since the start of 2019, according to new research. Property Monitor, the real estate intelligence platform from Cavendish Maxwell, indicated that the average annual house price in Dubai decreased by 10.6 percent in February, with some communities
March 25, 2019 in Business News -
Rovuma LNG project promises to transform Mozambique’s economy
Once developed, the 15.2 million tons per annum project, expected to attract between $27-32bn in investment, will monetise 2.6-billion cubic feet per day of Mozambique’s offshore LNG resources, add $15-18bn per annum to Mozambique’s gross domestic product (GDP), and drive Mozambique towards being, in time, the world’s fourth largest producer of LNG. “The first phase
March 25, 2019 in Investments -
Teacher who gives 80% of pay to the poor is world’s best, wins $1m
A maths and physics teacher from a secondary school in a remote village in Kenya’s Rift Valley has won the $1 million Global Teacher Prize for 2019, organisers have said. Peter Tabichi, who organisers say gives away 80 percent of his monthly income to the poor, received the prize at a ceremony Saturday in Dubai
March 25, 2019 in Business News -
Rapid company expansion caused White Friday delays, says Fetchr CEO
The founder of courier app Fetchr has said the firm’s widespread ‘White Friday’ delays were caused in part by rapid company expansion. The region’s first ‘phone to phone’ courier company has grown rapidly since 2013 and now serves 500 cities across the Middle East. “Last year we tripled in volume,” Idriss Al Rifai told Arabian
March 24, 2019 in Business News -
Etihad-backed Jet Airways grounds more planes
India’s debt-laden Jet Airways has grounded seven more planes after failing to pay for its aircraft leases, heaping pressure on its founder as a ballooning crisis threatens its survival. The beleaguered airline, gasping under debts of more than $1 billion, had grounded six planes earlier this week, and is also facing the threat of strike
March 23, 2019 in Business News -
Dubai News: Dubai’s RTA reveals progress on new $160m traffic control hub
The Roads and Transport Authority (RTA) has revealed that construction of a AED590 million ($160.6 million) project for the expansion of smart traffic systems in Dubai is nearly a quarter completed. Mattar Al Tayer, director-general and chairman of the RTA, announced that work completion reached 23 percent during a tour of the Traffic Control Centre
March 23, 2019 in Business News -
Dubai News: Dubai’s Burj Khalifa pays tribute to New Zealand PM
Dubai has paid tribute to New Zealand Prime Minister Jacinda Ardern by displaying her image on the Burj Khalifa, the world’s tallest building. Sheikh Mohammed bin Rashid Al Maktoum hailed Ardern’s support for Muslims all over the world a week after a white supremacist killed 50 Muslims at two mosques in the southern city of
March 22, 2019 in Business News -
Now is not the time to avoid investing
South Africa had its fair share of turbulence in 2018 – from higher deficits and worsening unemployment rates to challenges around land reform and a technical recession in quarter two. Adriaan Pask These challenges have resulted in investors opting to shy away from domestic markets, seeking investment opportunities outside the country. “While SA’s economic growth
March 22, 2019 in Investments -
Investment drive making waves in economy
President Cyril Ramaphosa’s aggressive efforts to boost the country’s stagnant economic growth are yielding results, according to figures released by the South African Reserve Bank (Sarb). In the Quarterly Bulletin released on Wednesday, the Sarb said inward direct investment increased from only R26.8bn in 2017 to R70.7bn in 2018. South Africa’s direct investment liabilities, however,
March 22, 2019 in Investments -
South Sudan invites tender bids on its crude cargoes
South Sudan’s Minister of Petroleum Ambassador Ezekiel Lol Gatkuoth says his country is inviting more refiners and traders to take part in its upcoming competitive tenders for government-owned crude cargoes. Ezekiel Gatkuoth, South Sudan’s petroleum minister He said that his country has increased current production levels, with the target of reaching previous levels of more
March 22, 2019 in Investments -
Saudi News: Why Mrsool is more popular than Uber, Facebook in Saudi Arabia
Typing out your order on Mrsool is only the start of what’s made the Saudi delivery app more popular in the kingdom than Uber Technologies and Facebook. The experience that follows recreates the bargaining of a traditional market. Once the customer picks out items from a store or restaurant, couriers bid to run the errand,
March 22, 2019 in Business News -
London News: Network International confirms plans for London IPO
UAE-based payments provider Network International has confirmed plans to go ahead with an initial public offering (IPO) on the London Stock Exchange, the company announced on Thursday. According to a statement from the company, it plans to float least 25 percent of the company’s issued share capital. The company’s admission to the official list of
March 21, 2019 in Business News -
UAE News: Former Netherlands boss named new UAE football coach
Bert van Marwijk, who led the Netherlands national side to the 2010 World Cup final, last coached Australia Van Marwijk replaces Italian Alberto Zaccheroni, who left his job as UAE coach after the Asian Cup. Dutch coach Bert van Marwijk has been named the new United Arab Emirates coach, the country’s football association announced on
March 20, 2019 in Business News -
SA REIT Best Practice Recommendations draft second edition available for comment
Following a broad consultative process, the SA REIT Best Practice Recommendations (BPR) draft second edition is out for for public comment. All interested parties can submit their input by Friday, 3 May 2019. The process of updating this guide, which is the accepted standard for reporting key metrics consistently to make the analysis and comparison
March 20, 2019 in Property & Real Estate -
Looking to buy to rent? Make sure the unit ticks the boxes
If a decision is made to buy a residential unit to rent out, it is advisable to first assess what the expectations are in terms of income or tenancy. If you’re considering buying a property as an investment, it pays to do quite a bit of research as to what rental will be achieved, which
March 20, 2019 in Property & Real Estate -
Saudi News: $23bn plan revealed to transform Saudi capital Riyadh
Saudi Arabia’s King Salman on Tuesday launched four wellbeing projects costing $23 billion for Riyadh, which aims to significantly improve the lives of its citizens and transform the city into one of the world’s most livable cities. The four wellbeing projects – King Salman Park, Sports Boulevard, Green Riyadh and Riyadh Art – complement the
March 20, 2019 in Business News -
India’s aviation minister eyes talks over grounding of Jet Airways planes
India’s civil aviation minister Suresh Prabhu on Tuesday asked the aviation ministry secretary to hold an emergency meeting on grounding of flights by Jet Airways, its advance bookings, flight cancellations, refunds and safety issues. “Asked Ministry Secretary to hold an emergency meeting on the grounding of flights by Jet Airways, and advance bookings, cancellation, refund
March 19, 2019 in Business News -
Reviving Cape Town’s clothing and textiles industry
The City of Cape Town has plans to commission a clothing, textile and fashion study in the 2019/20 financial year, to unpack the economic contribution of the sector. The outcome of this study will help to map out the value chain, provide a snapshot of the dynamics of the sector and help to identify potential
March 19, 2019 in Manufacturing -
Great, South Africa found gas. Now what?
The Brulpadda well off the shore of Mossel Bay is one of a number of highly anticipated exploration prospects in South Africa. First reports of the field indicate that it holds between 500-million to over 1-billion barrels of oil equivalent. In comparison, neighbouring Mozambique’s 2012 discovery held over 350-billion barrels of oil equivalent. Zwelakhe Gila
March 19, 2019 in Investments -
Abu Dhabi News: Abu Dhabi reveals new home for T10 cricket league
Zayed Cricket Stadium, Abu Dhabi, will be the new home of T10 cricket for the next five years, starting this October. Abu Dhabi Cricket, in partnership with Abu Dhabi Sports Council and the Department of Culture and Tourism – Abu Dhabi (DCT Abu Dhabi), has signed a five-year agreement with the organisers of the T10
March 18, 2019 in Business News -
Cash is king in the Winelands
The real estate market’s response during a downturn is largely predictable, with tighter budgets, cash-strapped consumers and fewer property sales setting the tone for a decidedly buyer’s market. However, there are always exceptions; nodes that resiliently continue to march to their own beat like the Winelands where cash deals are still prevalent and the top
March 18, 2019 in Property & Real Estate -
Inner city property development scheme creates new jobs
The R9bn Jobs Fund (JF) set up by government in 2011 to co-finance public, private and non-government projects has partnered with TUHF Limited (TUHF) to transform old inner city buildings into homes. TUHF is an on-lending financial services provider that provides access to finance for entrepreneurs and small and medium enterprises (SMEs) to purchase, and
March 18, 2019 in Property & Real Estate -
Saudi News: Habib Al Mulla says AccorHotels CEO ignorant of Saudi culture
Dr. Habib Al Mulla has denounced a statement by the global CEO of AccorHotels in which he claimed tourists visiting Saudi Arabia “may want to be able to drink.” “… a destination means people want to live. They want to have fun. They want to be able to enjoy music. They may want to be
March 18, 2019 in Business News -
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404 Sorry, we couldn’t find the page you were looking for. Would you like to go back to the home page, or search for it? Did you mean? Influencers should pay for restaurant reviews, says Gordon Ramsay (OR) RelevancyDate Search Source link
March 17, 2019 in Business News -
Saudi News: Saudi citizen killed, another wounded in NZ mosque attacks
New Zealand Prime Minister Jacinda Ardern said Saturday that victims of a terror attack on two mosques in Christchurch were from across the Muslim world, underscoring the global impact of the attack. Ardern said her government was working with consular officials from countries including “Pakistan, Turkey, Saudi Arabia, Bangladesh, Indonesia and Malaysia,” to deal with
March 17, 2019 in Business News -
UAE News: UAE’s iconic buildings go green for Ireland’s national day
Several UAE buildings, including the Burj Khalifa, were lit up with green lights ahead of St Patrick’s Day on Sunday Several buildings, including the Burj Khalifa, were lit up with green lights. The UAE was illuminated in green as it celebrated Ireland’s National Day and the 10th anniversary of Tourism Ireland’s Global Greening initiative. Several
March 16, 2019 in Business News -
Saudi News: Saudi citizen injured in New Zealand mosque attacks
Gulf states condemn the mosque attacks in New Zealand that killed at least 49 worshippers during Friday prayers TOPSHOT The New Zealand national flag is flown at halfmast on a Parliament building in Wellington after a shooting incident in Christchurch. (MARTY MELVILLE/AFP/Getty Images) Gulf states, including rivals Saudi Arabia and Qatar, closed ranks in condemning
March 15, 2019 in Business News -
Atterbury leadership succession plan taking shape
Real estate developer and investor Atterbury is moving forward with its leadership succession plan with the appointment of Armond Boshoff as CEO of Atterbury (Southern Africa) after having served 15 months as deputy CEO and before that as head: corporate finance and treasury at Atterbury Europe. Former CEO Louis van der Watt will become group
March 15, 2019 in Property & Real Estate -
Boeing suspends deliveries of 737 Max planes after grounding
US aerospace giant Boeing said Thursday it was suspending deliveries of its top-selling 737 MAX as French investigators took delivery of the black boxes from the Ethiopian Airlines crash that killed all 157 passengers and crew. The MAX has been grounded worldwide following the disaster — the second involving the model in five months —
March 15, 2019 in Business News -
God, love and the big bang: Remembering Stephen Hawking
Jane Hawking, the ex-wife of renowned physicist and cosmologist Stephen Hawking, has shared memories of spirited discussions between them about science and religion as she made an effort to reconcile their contradictory beliefs. March 14 marks the first anniversary of Stephen’s death. The Cambridge prodigy was diagnosed with Motor Neuron Disease at the age of
March 14, 2019 in Business News -
How Ramona Kasavan is taking Mimi Women to the rest of Africa
Ramona Kasavan is taking over Africa one sanitary towel at a time. She started her company, Mimi Women which manufactures sanitary towels locally in South Africa, after seeing large numbers of girls missing school over their monthly menses. Ramona Kasavan, Mimi Women. At the recently held Seamless Southern Africa, she shared her tips and tricks
March 14, 2019 in Manufacturing -
Beneficiation is touted as a silver bullet. Why it might not be
The beneficiation of diamonds has brought great benefits to Botswana. Shutterstock The logic behind beneficiation is that raw minerals don’t, on their own, have high value added. Exporting them unprocessed means that they don’t contribute that much to the economy. The idea of beneficiation is to capture more value from minerals by processing them locally
March 14, 2019 in Investments -
Dubai News: Dubai’s Global Village extends season until April 13
Global Village, Dubai’s multicultural festival park, has announced that the duration of its current season will be extended by a week. The last day of season 23 will now be April 13, operating for a total of 166 days, it said in a statement. Global Village management decided to extend season 23 in response to
March 13, 2019 in Business News -
Boat building opportunities in the Eastern Cape
Transnet National Ports Authority’s (TNPA) Port of Ngqura recently hosted the testing and launch of the first ever locally manufactured aluminium vessels by Port Elizabeth-based boat builder, Legacy Marine. A Dive Support Vessel being lowered into the Port of Ngqura. Image supplied. As the company’s ship yard is based in Perseverance, the low bridges blocked
March 13, 2019 in Manufacturing -
‘Local companies have six months to make it’
Gulf companies are sitting on a nest egg of unearthed opportunity that must be tapped quickly, according to Faraz Khalid, CEO of Dubai-headquartered e-commerce site Noon. Khalid said: “Our market is very, very attractive and global companies see that… local companies have six months to go flat out. “If you take too long then the
March 13, 2019 in Business News -
Dubai News: Dubai Healthcare City fees slashed to lure investment
Dubai Healthcare City Authority announces revised fees for several of its healthcare, commercial, and research and education offerings The DHCC free zone has revised several fees, benefitting clinical, non-clinical, and education and research partners. Dubai Healthcare City Authority (DHCA) on Tuesday announced revised fees for several of its healthcare, commercial, and research and education offerings.
March 12, 2019 in Business News -
SA, World Bank work to boost investment climate
South Africa and the World Bank have signed an agreement that will boost the local business environment while also helping to enhance foreign direct investment into the country. The Advisory Services Agreement was signed between the Department of Trade and Industry (dti) and the World Bank Group. The partnership is aimed at improving the business
March 12, 2019 in Investments -
Dubai News: How Dubai plans to develop strongmen of the future
Dubai Sports Council (DSC), in collaboration with the World’s Ultimate Strongman, has launched the WUS Incubator Programme – a training programme to take athletes with potential and turn them into world beaters. Some of the biggest stars in strength sports are coming to Dubai to take part in the new initiative to develop a new
March 12, 2019 in Business News -
Husband and wife team lands multi-million rand Shoprite contract
Mike and Thina Maziya’s plastic manufacturing and recycling company, Verigreen, has been awarded a multi-million rand contract to supply 25 different products under the Shoprite Group’s Ritebrand and Housebrand labels. Thina and Mike Maziya. Established by the husband and wife team in 2001, Verigreen has been manufacturing a range of drawstring refuse bags since 2012
March 11, 2019 in Manufacturing -
Oman News: Oman re-opens Salalah Airport following runway incident
An aircraft landing at Salalah Airport burst its tyre, resulting in the disruption of six flights The authority said it worked with partners to remove the damaged aircraft from the runway and ensure a safe and speedy return to normal operations. Salalah Airport has re-opened following a closure of its runway yesterday, Oman Airports said.
March 11, 2019 in Business News -
The cause and effect of behaviour economics
Psychologically, we are programmed to respond well to being rewarded for good behaviour. It’s a strategy that Discovery has perfected through its Vitality programme, for example. The company started off by using the data from its medical aid members to manage risk through offering rewards – as simple as a cup of coffee – for
March 11, 2019 in Investments -
Print your city? 3D printing is revolutionising urban futures
The Fabrication City concept puts manufacturing back in the hands of communities – using 3D printers. It could have far-reaching implications for economic development, environmental sustainability, inclusion and other benefits. The use of 3D printing provides cities with opportunities through their local innovators and entrepreneurs. The process of 3D printing layers materials to create three-dimensional
March 11, 2019 in Manufacturing -
India announces poll dates as Modi battles for majority
India will go to polls from April 11 in a seven-phase schedule to elect its next government, the Election Commission of India announced on Sunday. Along with the Lok Sabha elections, four Indian states – Andhra Pradesh, Odisha, Arunachal Pradesh and Sikkim – will also vote for their respective assemblies, the Election Commission said. Prime
March 10, 2019 in Business News -
Dubai News: Sheikh Hamdan approves plan to turn Dubai universities into free zones
The Crown Prince of Dubai has approved a new strategy to create economic and creative free zones in universities. Sheikh Hamdan bin Mohammed Al Maktoum said the plan will allow students to carry out business and creative activities as an integrated part of their higher education. The aim is to support students with education and
March 10, 2019 in Business News -
Sharjah News: Sharjah appoints operator for three luxury retreats
Sharjah Investment and Development Authority (Shurooq) has appointed Shaza Hotels to manage three high-end retreats in the emirate. Kingfisher Lodge in Kalba, Al Badayer Oasis in Al Badayer and Al Faya Lodge in Mleiha, which fall under the Sharjah Collection brand by Shurooq, will be operated by the Mysk by Shaza brand. The announcement took
March 9, 2019 in Business News -
Dubai News: US pop star Gwen Stefani to perform at Dubai World Cup
Singer will close the world’s richest horse race, following in the footsteps of Jennifer Lopez and Kylie Minogue The Grammy Award winner who was formerly the lead singer of No Doubt performed in Dubai at a private show in 2017 at the opening of the Renaissance Downtown Hotel. US pop star Gwen Stefani will perform
March 8, 2019 in Business News -
GIBS manufacturing-focused MBA kicks off in Durban
In a partnership with the new Toyota Wessels Institute for Manufacturing Studies (TWIMS), the University of Pretoria’s Gordon Institute of Business Science (GIBS), has launched a Postgraduate Diploma (PGDip) and Masters of Business Administration (MBA) in Durban which is be focused on the manufacturing industry. The degree will resonate with managers who are looking to
March 8, 2019 in Manufacturing -
Should you ever sell an investment property?
There are those who believe you should never sell an investment property, especially if it’s paid off, generating an income for you every month in the form of rental and increasing in value. But times and circumstances and areas change, and properties tend to require more maintenance as they age, so it is certainly worth
March 8, 2019 in Property & Real Estate -
London to remain leading global wealth centre despite Brexit risks
The 13th annual Knight Frank Wealth Report has been released, including the Knight Frank City Wealth Index; price movements across 100 luxury residential property markets; the results of Knight Frank’s Luxury Investment Index; and the Attitudes Survey. Hightlights from the report include: The global UHNWI population is forecast to rise by 22% over the next
March 8, 2019 in Property & Real Estate -
How real estate remains at heart of Gulf’s wealth generation
Real estate remains a significant wealth preservation asset class for Middle Eastern investors, according to the Knight Frank Wealth Report 2019. Ultra high net worth individuals (UHNWIs) based in the Gulf region, who have been long-standing players in global real estate markets, have intensified their appetite for global geographic diversification recently due to the continued
March 8, 2019 in Business News -
Why corruption in South Africa isn’t simply about Zuma and the Guptas
Corruption in South Africa isn’t simply a matter of bad morals or weak law enforcement. It’s embedded in processes of class formation – specifically, the formation of new black elites. This means corruption is primarily a matter of politics and the shape of the economy. The collapse of VBS Mutual Bank in South Africa shows
March 8, 2019 in Investments -
Abu Dhabi News: Abu Dhabi-owned ExCel London picked to host Formula E race
Abu Dhabi National Exhibitions Company (Adnec) announced that ExCeL London, its wholly-owned subsidiary, will host season six of the ABB FIA Formula E Championship. The electric-powered car race, which made its debut in Saudi Arabia earlier this year, will be held at the events venue in the UK capital on July 25-26. Humaid Matar Al
March 7, 2019 in Business News -
Jumeme breaks ground on first phase of Lake Victoria hybrid solar mini-grid project
RP Global’s Jumeme Rural Power Supply has begun construction of the first phase of its solar-hybrid mini-grid project in Tanzania which will see 11 new mini-grids constructed to bring 24/7 electricity supply to the Lake Victoria population of more than 80,000 people. Built on a cluster of islands in Lake Victoria, these independent solar-hybrid mini-grids,
March 7, 2019 in Energy -
Why property markets slow before elections
With the election date recently set for 8 May 2019, it is possible that activity in the property market may improve in the months to follow. It is not unheard of for the property market to reach a bit of a standstill leading up to a national election. Owing to the uncertainty that builds around
March 7, 2019 in Property & Real Estate -
Sheikh Mohammed allocates $1.6bn for Northern Emirates power projects
Sheikh Mohammed bin Rashid Al Maktoum, Vice President, Prime Minister and Ruler of Dubai, on Wednesday announced the allocation of AED5.8 billion ($1.58 billion) for water and electricity projects in the northern emirates. Sheikh Mohammed also approved a AED2.4 billion project to build dams and a federal water network that connects the water resources of
March 6, 2019 in Business News -
Cryptocurrencies won’t succeed until there’s a single global gov’t
Cryptocurrencies will not be successful until government authorities give up their bid to control them, or all countries are united under a single global government, Eugene Kaspersky, CEO of cybersecurity firm Kaspersky Lab told Arabian Business in an interview. “Cryptocurrencies are a great idea, but the world is not ready for them yet. The world
March 6, 2019 in Business News -
Stable real estate market continues to draw investment in Casablanca
Oxford Economics predicts Morocco’s real GDP will increase by 3.3% in 2019, owing to the expansion of the industrial sector, increased tourism and higher levels of capital spending. As a result, the hospitality and retail sectors continued to remain active in 2018 with new projects set to enter the market in 2019. There was also
March 6, 2019 in Property & Real Estate -
Fujairah News: Sheikh Mohammed announces $272m Fujairah infrastructure projects
Sheikh Mohammed bin Rashid Al Maktoum, Vice President, Prime Minister and Ruler of Dubai, on Tuesday announced the allocation of AED1 billion ($272 million) for infrastructure projects in Fujairah. The announcement – made during his visit to Fujairah and Khor Fakkan – is part of the 2017-2021 five-year plan being implemented by the Ministry of
March 5, 2019 in Business News -
Seil-Safari navigates farmers through unchartered waters to new horizons
Amidst waves of uncertainty around finalisation of the land expropriation without compensation amendment, the persistent drought in parts of the country and on-going challenges surrounding energy supply in the agricultural sector, Laeveld Agrochem, a leading agricultural services company is ready to take farmers on board for a journey of hope with their second Seil-Safari. From
March 5, 2019 in Property & Real Estate -
How safe is cryptocurrency investment?
More than $145m in cryptocurrency is inaccessible to its owners, after the sudden death of the 30 year old founder of Canada’s largest cryptocurrency exchange, Quadrig. Marius Reitz, SA country manager, Luno The company says that the millions of dollars’ worth of cryptocurrency can’t be accessed because CEO Gerald Cotten was the only person with
March 5, 2019 in Investments -
Dubai News: Dubai ruler unveils $410m plan for ‘new generation’ of schools
Sheikh Mohammed bin Rashid Al Maktoum, Vice President, Prime Minister and Ruler of Dubai, on Monday announced the allocation of AED1.5 billion ($410 million) to build the first tranche of a “new generation” of Emirati schools. He also launched a plan to transform the Higher Colleges of Technology into economic zones and approved a AED100
March 5, 2019 in Business News -
Budget 2019: What it means for the property industry
Finance Minister Tito Mboweni made his debut National Budget speech in Parliament. Here’s what the property experts say about what this means for real estate, South Africa and you. Adrian Goslett – Regional Director and CEO of RE/MAX of Southern Africa There were enough positive outcomes within the speech to instil a hopeful confidence in
March 4, 2019 in Property & Real Estate -
Saudi News: Saudi cabinet approves 24-hour tourism visa for foreign travellers
Saudi Arabia has approved new electronic visas for foreign visitors attending sporting events, concerts and business attractions. The decision will enable visitors to obtain a visa within 24 hours, Arab News reported. Saudi’s governing bodies for sports, cultural and business events – General Investment Authority, General Sports Authority and General Entertainment Authority – will provide
March 4, 2019 in Business News -
Kuwait News: Kuwait’s Sheikh Ahmad re-elected as Asian Olympic chief
Sheikh Ahmad, considered a major powerbroker in world sport, won a new five-year term until 2024 Sheikh Ahmad, considered a major powerbroker in world sport, won a new five-year term until 2024, the OCA said, extending a reign that started in 1991 over the body that controls the Asian Games and other regional events. Kuwait’s
March 3, 2019 in Business News -
Dubai News: Roger Federer wins 100th career title in Dubai
Roger Federer wrote another “special” page of history as he defeated Stefanos Tsitsipas 6-4, 6-4 on Saturday at the Dubai Championships to win the 100th title of his career. The 20-time Grand Slam winner claimed a record eighth trophy at the Aviation Club. The Swiss second seed was untouchable throughout much of the 69-minute final
March 3, 2019 in Business News -
Dubai News: DEWA seeks developers for fifth phase of giant Dubai solar park
Dubai Electricity and Water Authority (DEWA) has issued a request for qualification for developers to build and operate the fifth phase of the Mohammed bin Rashid Al Maktoum Solar Park, with a capacity of 900MW. The phase will use photovoltaic solar panels based on the independent power project and will be commissioned in stages starting
March 2, 2019 in Business News -
Abu Dhabi News: Asian Cup drives Abu Dhabi hotel occupancy to 11-year Jan high
Abu Dhabi hotels reported their highest January occupancy rates for 11 years on the back of hosting the Asian Cup football tournament, according to new research. Hotels in the UAE capital posted occupancy of 78 percent in January, up 1.9 percent on the same month last year despite the market seeing a double-digit hike in
March 1, 2019 in Business News -
Education and communication are key to understanding retirement default regulations
Following the introduction of the amendments to the Pension Funds Act in September 2017, the deadline to comply with the Act’s default regulations is now effective. Petri Greeff, Riscura head of investment advisory and administration To recap, the regulations require that retirement funds establish a default option for members’ retirement savings, one for preserving their
March 1, 2019 in Investments -
Downgrades, elections and surviving the Zuma era. There’s still hope
The latest Budget comes at a difficult time with the elections around the corner, a downgrade hanging in the balance and trying to mop up after nine years of corruption and maladministration. Image source: Gallo/Getty “We must recognise that we cannot continue on the path we are on and that we have to address the
March 1, 2019 in Investments -
Dubai News: Uber said to be in advanced talks to buy Dubai’s Careem
Uber Technologies Inc is in advanced discussions to buy its Dubai-based rival Careem Networks, a deal that would expand the ride-hailing giant’s operations in the Middle East, according to people familiar with the matter. The companies may announce a cash-and-shares transaction that values Careem at about $3 billion in the coming weeks, the people said,
March 1, 2019 in Business News -
how big will 5G be in the Middle East?
5G is expected to reach 30 million subscriptions for enhanced mobile broadband in the Middle East and Africa (MEA) by the end of 2024, representing 2 percent of total mobile subscriptions. This will make 5G the fastest generation of cellular technology to be rolled out on a global scale, according to the new regional edition
February 28, 2019 in Business News -
Using 4IR to build an inclusive economy
Public Enterprises Minister Pravin Gordhan has challenged black businesses to think about how they can use the Fourth Industrial Revolution to grow the economy in an inclusive manner. Public Enterprises Minister Pravin Gordhan “We need to respond to, on the one hand, the possibilities that the Fourth Industrial Revolution (4IR) offers, but also respond to
February 28, 2019 in Investments -
SA committed to more renewable power
Government says it remains committed to expanding the availability of renewable power to enhance the country’s energy mix. This will ensure that South Africa significantly contributes to the global effort for a low-carbon and climate resilient world. In a statement, following the Cabinet meeting, the executive said they will ensure a responsible and just transition
February 28, 2019 in Energy -
Rental growth shows first uptick in 2 years
At R7,610, the average national rent moved into a higher rental bracket in Q4, from the R5,000 – R7,500 category to the R7,500 – R10,000 category. The R5,000 – R7,500 bracket is still the most populous in South Africa, comprising approximately a third of all rentals. “Whether Q4’s uptick in year-on-year growth is the start
February 28, 2019 in Property & Real Estate -
Gulf airlines cancel Pakistan flights as tensions grow
Gulf-based airlines on Wednesday said they have suspended flights to Pakistan as Prime Minister Imran Khan called for talks with India to defuse the conflict between the nuclear-armed rivals. The UAE General Civil Aviation Authority (GCAA) announced that all airline flights to Pakistan will be suspended until further notice. In a statement, the GCAA said
February 28, 2019 in Business News -
The challenges and opportunities of trade finance in Africa
It’s common knowledge that, while the African continent offers many exceptional economic opportunities for forward-thinking businesses and investors, doing business in Africa can be challenging. Trade finance is certainly not immune to these challenges and it adds a layer of complexity that can make transacting on the continent interesting, to say the least. Sekete Mokgehle,
February 27, 2019 in Investments -
The University of Manchester and Aon partner to promote higher and professional education opportunities in the Middle East
The University of Manchester Middle East Centre in Dubai and Aon, a leading global professional services firm providing a broad range of risk, retirement and health solutions, have signed a Memorandum of Understanding (MoU) designed to promote higher and professional education, research, practice development and professional networking in the region. The university’s Strategic Talent Management
February 27, 2019 in Business News -
Saudi News: Saudis hold firm on oil output cuts after Trump says ‘relax’
Saudi Arabia is leaning toward extending OPEC cuts into the second half of 2019, potentially pitting the group against US President Donald Trump’s demand to keep prices down. Oil inventories in the US are “brimming,” and reducing that glut remains the main goal for the group, Saudi Arabian Energy Minister Khalid Al-Falih said in Riyadh.
February 27, 2019 in Business News -
Pakistan downs Indian jets in worst escalation since 1971 war
Pakistani fighter jets have shot down two Indian aircraft in a significant escalation of tensions a day after India said its Air Force had bombed a terrorist training camp inside Pakistan. India has so far not issued a response. One aircraft fell inside Pakistan-controlled Kashmir, and the other crashed on India’s side of the Line
February 27, 2019 in Investments -
How to spot a profitable real estate investment
If there’s one thing I’ve learned in my career in property investment, it’s that there are a lot of different approaches to making a profit from real estate. The traditional method takes a long-term view, and relies largely on capital appreciation, but not all of us have the time or the money to wait years
February 27, 2019 in Property & Real Estate -
Despite barriers, South Africa is a good place for impact investments
Impact investments focus on projects with social or environmental value. wk1003mike/Shutterstock It’s clear that governments alone cannot fix these problems. The private sector has a critical role to play, too. However, generating financial returns from investments in social and environmental projects can at times be difficult, but impact investments have provided competitive returns. And the
February 27, 2019 in Investments -
Government bureaucracy hampering investment in Western Cape, says property forum
According to the Western Cape Property Development Forum (WCPDF), an increasing slowdown in approval processes by local and provincial governments is costing the Western Cape thousands of jobs and will lead to the loss of scarce skills. Numerous concerns have been raised by property developers and other industry professionals about the slow turnarounds in government
February 27, 2019 in Property & Real Estate -
How to get your money back in a blockchain dispute
South Africa has yet to witness a major blockchain-related dispute but such disputes are bound to occur as interest in cryptocurrencies and smart contracts intensifies and transactions involving them become more common. In certain other jurisdictions, such as the United States, we have seen a tendency for some investors to get caught up in the
February 26, 2019 in Investments -
Azuri launches pay-as-you-go solar satellite TV in Kenya
The off-grid solar market is in the midst of a serious boom, already growing beyond the simple necessities of lighting and phone charging. Azuri Technologies, pay-as-you-go solar technology provider. Azuri Technologies, pay-as-you-go solar technology provider, has unveiled its new 32-inch solar satellite TV system specially designed and customised for off-grid customers in Africa.The 32-inch Azuri TV is
February 26, 2019 in Energy -
Predicted change is here
Even though the majority in the country feel that things will continue to decline the enlightened among us states that all predictions for the year are positive. They believe that home buyers and investors who take the plunge and buy early will be well-rewarded. Buyers and investors should not allow the current unsettled state of
February 26, 2019 in Property & Real Estate -
Sir Samuel Esson Jonah joins Grit board of directors
Pan-African real estate company Grit Real Estate Income Group has appointed Sir Samuel Esson Jonah (KBE, OSG) as an independent non-executive director of the company with effect from 21 February 2019. Sir Samuel Esson Jonah (KBE, OSG) Jonah is currently executive chairman of Jonah Capital, an investment holding company in South Africa, and is former
February 26, 2019 in Property & Real Estate -
6 major investment decision shapers in 2019
Smart beta, alternative investments, risk management, sustainability, big data and technology, and China as a disruptor in international asset management are the most dominant themes impacting investors in 2019. Janina Slawski, principal investment consultant at Alexander Forbes Investments The world is changing and to succeed in a reshaped environment with intense pressure on growth and
February 25, 2019 in Investments -
Polystyrene Association presents solutions tackling employment, housing and waste
At the Polystyrene Association of South Africa’s recent annual general meeting it unveiled plans to increase the collection and recycling rate of post-consumer polystyrene. “We have had phenomenal success with our various recycling projects over the last 11 years. During the 2017-2018 financial year, more than 6,300 tonnes of polystyrene were successfully diverted from our
February 25, 2019 in Manufacturing -
Budget promises to boost SMME eco-system
Plans to make legislative changes to the ambit of the Department of Small Business Development will go a long way to making the entrepreneurial eco-system more conducive for the formation and growth of small, micro and medium enterprises (SMMEs). Gugu Mjadu This should reduce the amount of red tape cited by many entrepreneurs as one
February 25, 2019 in Investments -
South Africa’s failure to create manufacturing jobs
To reduce unemployment South Africa needs to prioritise labour-intensive work instead of higher wages, write professors Jeremy Seekings and Nicoli Nattrass. Men wait along Strand Street in Cape Town, hoping to get work for the day. This is a common sight across the city. Photo: Ashraf Hendricks W. Arthur Lewis is the only person of
February 25, 2019 in Manufacturing -
Renewable energy programme attracts R209.4bn to SA economy
The Renewable Energy Independent Power Producer Procurement Programme (REIPPP) is making a significant impact on the economy, job creation, community upliftment, economic transformation and climate change. The REIPPP is a competitive tender process that has been designed to facilitate private sector investment into grid-connected renewable energy generation. In a short, eight-year period it has attracted
February 25, 2019 in Energy -
#BudgetSpeech2019, a budget for the future
Finance Minister Tito Mboweni’s National Budget Speech was predictably conservative – as one might expect within an election year. There were no announcements made that will severely affect homeowners. Similarly, no announcements were made that could potentially stimulate the property market in any significant way either. However, there were enough positive outcomes within the speech
February 22, 2019 in Property & Real Estate -
South Africa’s budget was missing ideas from the left. Why this isn’t a good thing
South Africa’s Finance Minister Tito Mboweni preparing to deliver the budget. EPA-EFE/Elmond Jiyane The budget attracted particular attention because South Africa’s public finances are, after years of misuse by the administration of former president Jacob Zuma, in deep trouble. Finance minister Tito Mboweni’s task was, it was widely agreed, making the best of a bad
February 22, 2019 in Investments -
Response to the 2019 Budget Speech
Similar to the 2018 Medium-Term Budget Policy Statement (MTBPS) this budget was very closely watched with many hoping for clarity on the future direction. In the current environment there are more questions than answers and more groups with different views and interests than what the fiscus can allow. Nico Esterhuizen The Minister of Finance, Mr.
February 21, 2019 in Investments -
South Africa to reach the fiscal cliff by 2042
If South Africa doesn’t change its ways and back up the Budget Speech with concrete actions the country will reach the fiscal cliff by 2042, says Professor Jannie Rossouw, the head of School of Economics and Business Sciences at Wits Business School. Professor Jannie Rossouw He warned that if the actions of the government in
February 21, 2019 in Investments -
What it means for the real estate sector
Calling for sowing seeds of renewal and growth, finance minister Tito Mboweni noted with great emphasis during his maiden Budget Speech the need for pruning and plucking at the rot that has attacked the country’s green shoots. As such, the minister aimed to address the hard facts and figures by not further kicking the can
February 21, 2019 in Property & Real Estate -
Budget measured, but time to get the house in order
Finance Minister Tito Mboweni’s maiden budget was always going to be tough given the extent of the economic challenges, this, with particular reference to corruption and mismanagement of SOEs, not least of which the Eskom debacle, and the shrinking tax base. Samuel Seeff, chairman, Seeff Property Group That said, the budget was measured and in
February 21, 2019 in Property & Real Estate -
No quick fix for SA’s Budget, but there’s some hope
In what was arguably one of the most closely watched National Budget speeches in recent years, Finance Minister Tito Mboweni outlined government’s plan to boost growth, increase tax collection and reduce debt, with strong attention paid to Eskom and SOEs. Finance Minister Tito Mboweni. Image source: GCIS/Flickr A clear thread running through the Budget Speech
February 21, 2019 in Property & Real Estate -
SA, Moz elevate economic partnership with ground-breaking pact
South Africa and Mozambique have signed a memorandum of understanding (MoU) on economic cooperation which will provide a broad basis for cooperation between the two sister countries. Dr Rob Davies, minister of trade and industry The MoU’s intention is to find new approaches and strategies of consolidating, expanding and deepening areas of economic development, investment
February 20, 2019 in Investments -
Trends in mortgage lending and what they mean for future property market activity
Mortgage finance is the fuel that drives the property industry. The South African Reserve Bank (SARB) leading indicator is an excellent predictor of the general direction of the value of mortgage loans granted. This index grew at 6.55% at the beginning of 2017, which was its most recent peak, after which it slowed to 2.05%
February 20, 2019 in Property & Real Estate -
A foreign investor’s guide to the South African property market
With reports of foreign memos of warning being issued to our presidency to act against corruption and ongoing concerns around the solvency of our national power station, investing in South African real estate might not be high up on foreign investors’ to-do lists right now. However, considering the political turmoil that is running rampant across
February 19, 2019 in Property & Real Estate -
#BudgetSpeech2019: Dear Mr Minister
Andrew Duvenage,managing director, NFB Private Wealth Management.</span>Over the years your predecessors have consistently increased the pressure on high net worth individuals in their annual budgets. Currently the top 2% of earners account for between 25% and 35% of South Africa’s total revenue. Read more… | Send to a friend Source link
February 19, 2019 in Investments -
Hoping for a great escape
Legendary escapologist Harry Houdini began his career escaping from handcuffs but later went on to dazzle audiences with escapes from large milk cans, his specially designed Chinese water torture cell and buried caskets. The difficulty of the escapes was often ratcheted up by binding the escape vessels with chains and locks and restricting Houdini’s movements
February 18, 2019 in Investments -
SA expected to reach roll-over agreement with the UK
The Department of Trade and Industry (dti) is expected to reach a roll-over agreement with the United Kingdom post Brexit. The department briefed Parliament’s Portfolio Committee on Trade and Industry on developments made by its negotiating team regarding preferential trade arrangements after the British exit (Brexit) from the European Union (EU). Brexit is expected to
February 14, 2019 in Investments -
CEOs still don’t understand big data
Although many business owners and CEOs have introduced big data into their operations, very few know how to use it effectively for a competitive edge. Yudhvir Seetharam, head of analyics, FNB Business According to the PwC 22nd annual survey launched at the World Economic Forum annual meeting in Davos, CEOs are still failing to take
February 14, 2019 in Investments -
SA guns for stake in global exploration budget
Mineral Resources Minister Gwede Mantashe says South Africa is positioning itself to get a slice of the global exploration budget in a debate on the State of the Nation Address in the National Assembly on Tuesday. Mineral Resources Minister, Gwede Mantashe. Photo: @GCISMedia/Twitter “We intend to secure a minimum of 5% of the global exploration
February 13, 2019 in Investments -
#BudgetSpeech2019: Tips for Tito
Being an election year, there’ll be a second State of the Nation Address (Sona) in June for the new government to present its plan of action for the 2020 financial year. However, there will be no second chances for the 2019 Annual Budget Review, being tabled by the Minister of Finance, Tito Mboweni, on 20
February 13, 2019 in Investments -
SA REIT sector set for re-rating
As South Africa’s real estate investment trust (SA REIT) sector heads for a re-rating, investors are optimistic of the sector rallying this year or next. Already, the FTSE/JSE SA Listed Property Index (SAPY) is out of 2019’s starting blocks with its strongest January performance in 10-plus years since 2007, outperforming all other asset classes. At
February 12, 2019 in Property & Real Estate -
SAPPMA issues call for papers ahead of PIPES XII Conference
The Southern African Plastic Pipes Manufacturers Association (SAPPMA) has issued an invitation to professionals interested in presenting at its PIPES XII Conference, to submit their abstracts as soon as possible. This year’s event will take place on 27 and 28 August at the Altron Business Park in Midrand. “We have reserved two full days for
February 8, 2019 in Manufacturing -
Total makes significant gas find off Mossel Bay
Total has made a significant gas condensate discovery on the Brulpadda prospects in the Outeniqua Basin, 175 kms off the southern coast of South Africa. The Brulpadda well encountered 57 m of net gas condensate pay in lower cretaceous reservoirs.The well was then deepened to 3,633 m. “We are very pleased to announce the Brulpadda
February 8, 2019 in Investments -
SA government ‘building a mansion on a foundation of termite-ridden wood’
Reacting to the president’s State of the Nation Address, Yael Geffen, CEO of Lew Geffen Sotheby’s International Realty, said South Africa was the living embodiment of the “good news, bad news” paradigm. Yael Geffen, CEO of Lew Geffen Sotheby’s International Realty “There are a million jokes with that punchline, but I’m currently seeing the dark
February 8, 2019 in Property & Real Estate -
It’s time to make Africa prosperous
Africa is home to 30% of the world’s mineral reserves. The irony is that a continent that is so rich in minerals is home of the world’s poorest people. Ghana President Nana Akufo-Addo Speaking at the Investing in Minding Indabe, Ghanaian President Nana Akufo-Addo, said, “The story of mining in Africa is not a happy
February 7, 2019 in Investments -
Why anyone in the property game should be watching #SONA2019
A successful property market relies heavily on a strengthened economy for investment. Investors need to believe that their money will be secure and protected, and this security is encouraged by positive policies and sustainable taxes. President Cyril Ramaphosa’s address will give an indication of the direction that the economy will progress and investors will be
February 7, 2019 in Property & Real Estate -
Lightstone 2019 forecast expects positive economic turnaround post-election
A preliminary review of the Lightstone Property Forecast of 2018 indicates that the market is ending the year closer to the 2.9% low road scenario, as opposed to the forecasted 3.8%. Paul-Roux de Kock, analytics director at Lightstone, explains that the outcome was mainly due to a lower performing GDP rate; a trend de Kock
February 6, 2019 in Property & Real Estate -
PG Bison opts for locally sourced, sustainable rPET strapping
Wood-based product manufacturer PG Bison will now use only locally sourced and recycled polyethylene terephthalate (rPET) strapping. According to CEO Gerhard Victor, the company uses 9.1 million metres of plastic strapping per annum to bind its wooden surfacing and decorative panel products, with the recycled rPET material set to divert the equivalent of five million
February 6, 2019 in Manufacturing -
Automation could power manufacturing progress
Foreign investors and South African industry players seem to be taking a ‘wait and see’ approach to industrial and manufacturing growth, putting the country at risk of falling behind its neighbours. However, investment in automation now could help boost the manufacturing sector, with benefits for the country’s overall economic growth. This is according to automation
February 4, 2019 in Manufacturing -
Sectional title sector predicted to continue dominating CT market
During the past decade, the sectional title sector has become a significant market disrupter with rampant development transforming the Cape Town property landscape resulting in numerous market shifts, and emerging as the strongest sector in many areas. Underpinning this market share growth were several key factors, including changing consumer needs, affordability challenges of a weakening
February 4, 2019 in Property & Real Estate -
Diversifying your property portfolio
Diversification is a key wealth strategy, but what should consumers invest in? Should they hedge their rands and invest overseas? Or is it better to buy a number of properties costing under R1m? Property should always be a part of any balanced investment portfolio. Keeping the active versus passive, cash versus geared debates aside for
February 1, 2019 in Property & Real Estate -
What will the budget hold in store for us?
As always, the annual Budget Speech carries trepidation and optimism for taxpayers in equal quantities. But Mazars’ chosen theme for this year – Poised for Growth – suggests a more positive outlook tempered by a few cautionary notes. Finance Minister, Tito Mboweni. Photo:IFP In anticipation of Tito Mboweni’s maiden speech on February 20, Mazars held
February 1, 2019 in Investments -
Renewables cut costs at remote mines
Despite concerns that intermittent renewables such as solar and wind could affect the reliability of power supply, mining companies are adopting wind and solar to reduce their energy costs at remote off-grid mines. Photo: Voltalia In various microgrid applications, renewables combined with diesel, HFO, or gas are proving their worth in isolated regions, a recently
February 1, 2019 in Energy -
Resurrecting SA’s mining industry
The concept of mining is relatively simple. Identify a viable ore body, decide on how best to extract it, and put the necessary infrastructure in place to economically extract the valuable mineral (in whatever format) for the end user. However, in reality, mining has become a complex business, largely due to the unique dynamics of
January 31, 2019 in Investments -
4 experts share insights into thriving in the property investment space
Four property industry experts recently shared their insights at Entrepreneurship To The Point, an entrepreneurship network hosted monthly by Growthpoint Properties’ Property Point, to equip entrepreneurs with the ability to own equity, whether in bricks and mortar or listed property shares. George Muchanya, head of corporate finance at Growthpoint Properties George Muchanya, head of corporate
January 31, 2019 in Property & Real Estate -
CEO’s exit underscores how few South African women hold top jobs
Maria Ramos, pictured here at the 2009 World Economic Forum early in her tenure at ABSA. Copyright World Economic Forum www.weforum.org / Eric Miller emiller@iafrica.com [CC BY-SA 2.0 (https://creativecommons.org/licenses/by-sa/2.0)], via Wikimedia Commons, CC BY-NC-ND Employment equity at the bank improved under Maria Ramos’s guidance. Both the number of black women and men in senior management
January 31, 2019 in Investments -
The question every investor should ask
Most investors’ first question is, “How much money can I make?” But the accounting scandal at Steinhoff or business fraud at Theranos – and their subsequent share price collapses – highlight that an investor’s first consideration should rather be,”How much money can I lose?” Dr Adrian Saville, chief executive of Cannon Asset Managers And risk
January 30, 2019 in Investments -
IFWG releases consultation paper on crypto assets
An initial public statement on crypto assets was issued by National Treasury in 2014 as a joint initiative with the Sarb, the Financial Services Board (now the Financial Sector Conduct Authority), the South African Revenue Service and the Financial Intelligence Centre. At the time, the term virtual currencies was used to refer to crypto assets.
January 29, 2019 in Investments -
South African property terminology and the British equivalent
Costs of buying property in South Africa When you buy property in South Africa, you’ll typically need to pay transfer duty plus a registration fee and conveyancing fee. UK solicitors SA Deeds Registries where documents are available for public viewing. UK has a database holding digital records of all UK property titles deed to search
January 28, 2019 in Property & Real Estate -
Did you hear the Accounting & Finance Show’s free registration is open?
Be inspired by the latest technological solutions in accountancy and finance. Hear how theatre themes are changing the finance function forever. Register now to enjoy the full experience! BOOK YOUR FREE CONFERENCE PASS NOW! Until then, here is a sneak peek at the thought leaders you will hear from: BOOK YOUR FREE CONFERENCE PASS NOW!
January 28, 2019 in Venture Capital -
Open banking and its impact on the financial sector
Digitalisation means that people are banking from their mobile phones, making payments via barcode scanning and even in some cases transacting using cryptocurrency. Home loans can be approved in almost real-time, and a selfie can be used to open a bank account – all without ever physically entering a branch. Gerhard Greyling However, this is
January 28, 2019 in Investments -
Cape Town’s southern residential property market shows resilience
While 2018 was another subdued year for the Cape Town real estate market, it was not all doom and gloom. Property values remained relatively consistent and several areas, particularly in the south, proved encouragingly resilient. Arnold Maritz, Southern Suburbs co-principal for Lew Geffen Sotheby’s International Realty, says: “An analysis of Propstats data for the Cape
January 28, 2019 in Property & Real Estate -
Section 12J: Putting your tax rands to work for a better South Africa
One of the first entrants to the South African 12J venture capital landscape is celebrating its fourth year of profitable returns to shareholders. Anuva Investments Ltd (Anuva) reported R14.1 million in profit for its 2018 financial year and distributed R10.5 million to its Class-A shareholders – achieving an impressive 8% dividend yield. Neill Hobbs “We
January 25, 2019 in Venture Capital -
2019 JSE Investment Challenge open for registration
The 2019 Johannesburg Stock Exchange (JSE) Investment Challenge is officially open for registration. The challenge, which draws in school learners and university students with an interest in investment and stock markets, is in its 46th year. Last year the challenge attracted more than 22,000 school learners and university students. Corporate social investment (CSI) officer at
January 25, 2019 in Investments -
SA CEOs remain cautiously optimistic
While even the most positive SA CEOs are reining in their expectations, local CEO confidence has improved in the short and medium term. This is according to the 22nd Annual Global CEO Survey, and the 10th South African survey, which was announced this week in Rosebank, Johannesburg after it was officially launched by PwC’s Global
January 25, 2019 in Investments -
The experts all agree – now is the time to buy
Property market predictions for 2019, and why the experts are encouraging you to buy property now. The residential property market in 2018 took a downturn, with land reform policy uncertainties rife in South Africa. This, along with a slower economy, bred a lack of confidence. Stability generally leads to consumer confidence, which is the key
January 25, 2019 in Property & Real Estate -
Rental yield vs capital growth
When it comes to investment property what matters more, rental yield or capital growth? There is no “right” answer, says Michelle Cohen, principal at Leapfrog Johannesburg North East and Sandton. Investors get distracted by the rental amount they see coming in each month, but in the long run, it’s capital growth that sets a good
January 25, 2019 in Property & Real Estate -
Dynamic 2019 property market hinges on quality stock
If the thousands upon thousands of words penned in recent months about general sentiment in the South African property sector could be summarised in just a single one, the winner by a country mile would be “CAUTIOUS” – in capital letters. Industry leaders seems to be couching their words in a packing peanut panacea of
January 24, 2019 in Property & Real Estate -
Nominated for three IFOY Awards
Hamburg/Ismaning (Germany): Jungheinrich has been nominated in 2019 for a total of three IFOY Awards. This was announced by the jury in Ismaning, near Munich. For yet another year, this makes Jungheinrich the company with the most nominations in the IFOY competition. The nominees were the world’s first reach truck with an integrated ETV 216i
January 23, 2019 in Manufacturing -
OurCrowd partners 7thirty in launching global cannabis-tech VC fund
Israel-based global investment platform OurCrowd has announced that it will invest and partner with 7thirty in developing a global cannabis technology venture capital fund, focused on emerging cannabis technology companies in med-tech, ag-tech, retail, e-commerce, marketplaces, SaaS solutions, and the deep-tech research in cannabis. Jon Medved, CEO, OurCrowd The new $30m 7thirty Opportunity Fund, headquartered
January 23, 2019 in Venture Capital -
Where are the best places to invest in UK property in 2019?
2019 is finally upon us and with the uncertainty surrounding Brexit, many are apprehensive about investing in the UK property market. We believe that there is still opportunity to be had, if you know where to look. Read on to find out where we think the best places to invest in UK property in 2019
January 21, 2019 in Property & Real Estate -
Regulate fertiliser producers, not just farmers
Nitrogen pollution is produced by a number of interlinked compounds, from ammonia to nitrous oxide. While they have both natural and human sources, the latter increased dramatically over the past century as farmers scaled up food production in response to population growth. Once these chemicals are released into the air and water, they contribute to
January 21, 2019 in Energy -
The importance of good environmental, social and governance practices
The Johannesburg Stock Exchange (JSE) is one of five exchanges in the world to be internationally recognised as a pioneer of a global initiative to enhance corporate transparency, performance on environmental, social and corporate governance (ESG) issues and encourage sustainable investment. In 2012 in Rio de Janeiro, Brazil the JSE, together with four other stock
January 21, 2019 in Investments -
Unchanged repo rate positive, while buyers gradually return to the market
After an unexpectedly tough 2018, but with the welcome announcement that the repo rate remains unchanged following this first MPC meeting of the year, the outlook for 2019 is somewhat brighter. Nonetheless, the year ahead is likely to be characterised by a number of highly significant events which could substantially impact the performance of the
January 18, 2019 in Property & Real Estate -
R81m Black Industrialist textile firm set for launch in KZN
A multimillion-rand Black Industrialist textile firm, Africa Bespoke Apparel (ABA), is ready to launch on 22 January 2019 in Verulam, KwaZulu-Natal. A 100% black-owned company operating in the textile, clothing and footwear sector, ABA is the first one amongst the Black Industrialists beneficiaries to create about 450 employment opportunities within four months of its operation.
January 18, 2019 in Manufacturing -
#BizTrends2019: Private equity's African story
©nednapa chumjumpa [[www.123rf.com 123rf.com]]</span>What are the key issues and trends related to doing business in Africa in the private equity space? Read more… | Send to a friend Source link
January 18, 2019 in Investments -
Repo rate unchanged at 6.75%
The repurchase rate remains unchanged at 6.75% per year, says Reserve Bank Governor, Lesetja Kganyago. Reserve Bank Governor Lesetja Kganyago The monetary policy actions will continue to focus on anchoring inflation expectations closer to the mid-point of the inflation target, in the interest of balanced and sustainable growth. International developments have been the major contributor
January 18, 2019 in Investments -
Adopt downturn survival strategies in 2019, property agents advised
With inflation expected to continue its rise for most of the year and economic growth predicted to stay slow, 2019 will see estate agencies facing mounting pressure from property owners and tenants alike. PayProp CEO Louw Liebenberg says that agents operating in this economic environment should carefully consider which strategies they adopt to better serve
January 17, 2019 in Property & Real Estate -
Even a hard Brexit is better than uncertainty
With the March 29 deadline looming, the United Kingdom’s departure from the European Union (EU) still shows no clear outcome. At this point, financial markets are crying out for an end to the uncertainty, even if that means accepting the short-term pain of a hard Brexit. We have long argued that the best Brexit scenario
January 17, 2019 in Investments -
Theresa May Brexit deal hammered in parliament, but be wary of prospects of a new ‘consensus’ approach
May lost the vote by a historic margin. PA That May’s immediate response was to make time for the house to debate and vote on Labour’s motion of no-confidence in her the day after her loss was thus hardly a surprise: how else to respond to such a heavy blow against the central platform and
January 16, 2019 in Investments -
#BizTrends2019: What's happening in the African energy space?
©kodda [[www.123rf.com 123rf.com]]</span>Experts provide insight in to the emerging trends in African energy and infrastructure projects. Read more… | Send to a friend Source link
January 16, 2019 in Investments -
Brand SA views World Bank 2018 report as call to action
Brand South Africa says it has noted the areas of concern expressed in the World Bank’s Global Economic Prospects report, which indicates that South Africa’s real GDP growth will expand by 1.3% in 2019. Dr Petrus de Kock “While the South African GDP outlook has seen a downward revision, this happens in a global context
January 15, 2019 in Investments -
Learnings from the Nigerian oil & gas marginal fields experience
Marginal oil & gas fields are not particularly attractive to the major players due to their relatively small prospects, but they do offer great opportunity for smaller independent African and non-African companies. Photo: Independent.ng In 2003, Nigeria had a bid round for its marginal field with 24 licenses awarded to 31 companies, some as sole
January 14, 2019 in Investments -
SA investors reap rewards from good festive season trade at Polish malls
Poland’s retail property sector paints a more positive picture for investors than many other sectors in South Africa and abroad, which had a rough year in 2018. Hadley Dean, CEO, EPP “It comes down to where people shop,” explains Hadley Dean, CEO of EPP, Poland’s largest owner of shopping centres, which is listed on the
January 14, 2019 in Property & Real Estate -
An enduring success but a fundamental failure
New Year’s Day 1999 saw the largest monetary changeover in history. On that date, just 20 years ago, 12 members of the European Union formally adopted a brand-spanking-new currency, the euro. Fireworks illuminate the sky around a huge euro sculpture. Reuters/Kai Pfaffenbach Today seven additional EU member states use it, along with Montenegro, Kosovo, Andorra,
January 11, 2019 in Investments -
SA REIT sector to focus on improved governance in 2019
According to Wynand Smit, real estate analyst at Anchor Stockbrokers, “The performance of SA REITs in the coming year will be influenced by improving levels of confidence in the listed property sector.” The sector’s positive performance prospects signal double-digit growth in returns to investors, which should be around the sector’s historical annualised 10-year total return
January 11, 2019 in Property & Real Estate -
Who dares wins. Africa offers abundant prospects for venture capitalists
Africa is regarded as the next investment frontier as it presents massive opportunities for infrastructure, digital and social impact investment, among others. These opportunities are thanks to an ever-increasing number of small and medium enterprises (SMMEs) on the continent. And it is fair to say that a measured approach to venture capitalism could help Africa
January 11, 2019 in Venture Capital -
Saving for the golden years
While Africa’s youthful population and growing middle class are generally a big plus when it comes to investment potential, but what happens when this cohort gets old? Will the continent’s pension market be able to cope? Gerald Gondo, executive, business development – Africa, RisCura Africa’s youth will not only age, but will also live longer.
January 10, 2019 in Investments -
Oil fuels Angola’s economic restructuring
President João Lourenço meant business when he promised to revamp Angola’s economic engine, namely the national oil company, Sonangol. Oil made more money – to the tune of $8.7bn – for the country in the first 11 months of 2018 than in the previous four years. NJ Ayuk, founder and CEO of Centurion Law Group
January 10, 2019 in Investments -
Another rollercoaster ride for the rand in 2019
Trumpenomics, Pravin Gordhan’s axing as finance minister and Cyril Ramaphosa’s appointment as ANC president contributed to the R2.04 price swing in the South African currency in 2017. This volatility continued through 2018 with the US-China trade war, Ramaphosa’s swearing in as SA president, two new finance ministers and the emerging market rout taking their toll
January 9, 2019 in Investments -
Will 2019 be the turnaround for the economy and property market?
That is the question on everyone’s lips as we look forward to dusting off the challenges of 2018 which was, by all accounts, a challenging year for the economy and property market. Overall, while it remained business as usual for the sub-R1.5m sector, there was a notable weakening in demand above the R3m to R5m
January 9, 2019 in Property & Real Estate -
Outlook for the 2019 property market
There are many people stating that the worst is over and that things will start improving soon. 2018 was not a good year for the property market and economy at large and unless we start to see some certainty around land reform policies and along with this how the elections will play out, I do
January 9, 2019 in Property & Real Estate -
SA improves on 2018 Index of Economic Freedom
The Heritage Foundation has ranked South African 77th out of 100 world countries in terms of economic freedom, and 4th in the African region. The country’s over-all economic freedom score improved by 0.7 from 2017. The index provides some insight into dimensions of the South African economic environment as the country continues to grapple with
January 8, 2019 in Investments -
Foreign capital investments through property and ‘golden visa’ could stimulate the economy
The South African economy is struggling, with ongoing pressure of petrol price hikes, a weakening rand and decreased consumer spend. Award-winning economist Nico Kelder has said that the country needs to start exploring non-traditional methods of boosting the economy. Effectively, we need to think out of the box. Stuart Chait, executive chairman of Land Equity
January 8, 2019 in Property & Real Estate -
The good, the bad and the ugly
Social credit scores are set to be one of the trending terms for 2019. However, not all credit scores are created equal (or with equally good intentions)… The good – social credit for financial inclusion One of the biggest issues in Africa is that of financial inclusion. People without a banking or credit history cannot
January 7, 2019 in Investments -
#BizTrends2019: Purpose first, profit later
South African business headlines were dominated by corporate disgrace in 2018 – the continued fallout from the Steinhoff scandal, the listeriosis outbreak, the Momentum life insurance controversy, and the state capture allegations tainting the reputations of several leading management consulting firms, to name just a few. Ernest North, co-founder at Naked My hope is that
January 7, 2019 in Investments -
Rural and township retail property trends
Shortly after concluding the successful SA Investment Summit, President Cyril Ramaphosa then took a walk through the streets of the famous Vilakazi Street in Soweto to show off the township and its successful businesses. The tour with foreign and some local businesses should be seen as more than just showcasing Soweto, but rather the potential
January 7, 2019 in Property & Real Estate -
Trends moulding the plastic packaging industry
There’s a major shake-up happening in the plastic manufacturing industry. And the change is happening remarkably quickly across the world for converters and brands alike. David Drew, Alpla SA. Here I unpack the key trends that will continue to shape the sector. Sustainability It’s been a watershed year in the plastics industry. Globally the noise
January 7, 2019 in Manufacturing -
#BizTrends2019: Banking and finance law
The National Treasury, together with the Prudential Authority and the Financial Sector Conduct Authority, recently published the Financial Sector Laws Amendment Bill of 2018 (the Bill), which was open for public comment until 7 November 2018. The Bill, which has been approved by Cabinet, aims to give effect to proposals contained in the documents: “Strengthening
January 7, 2019 in Investments -
Slight uptick in investment activity expected
The tough economic climate during 2017 induced pressure on the property market which did ultimately deter growth within this market. After renewed hope for this sector in 2018, unfortunately transactional activity remains subdued and as a result, business confidence has also decreased, recording the lowest number of transfers in the last three years for the
January 7, 2019 in Property & Real Estate -
M&As wobble amid trade tensions and political instability, but values still high
The number of mergers and acquisitions (M&A) struck globally in 2018 fell for the first time since 2010 to 19,232, after steadily rising for close to a decade. However, the transactions that did make it to the signing table reached $3.5tn worth of activity, ranking 2018 as the third-largest year (since 2001) by value. Average
January 4, 2019 in Investments -
7 money-saving tips for 2019
Set your financial goals As humans it’s common to want to wipe the slate clean in January, and look for ways to do better than we did the year before – especially with a debt hangover from December spending still lingering. January is thus the perfect time to reflect on your accomplishments during 2018, and
January 2, 2019 in Investments -
Elections and economic growth
With East Africa set to grow by 6.3%, Western and Central Africa by 2.5%, Franc Zone at 4.6% and South Africa by 1.2%, most countries on the continent are looking at a positive economic forecast, except for those facing elections. East Africa continues to report the highest GDP growth on the continent even though the
December 31, 2018 in Investments -
What does the USA’s new Africa policy mean for the continent?
The United States recently outlined its Africa strategy by reiterating its commitment to strong partnerships with key countries in Africa, specifically naming Kenya as a target for future US aid and investment. The US said it would also seek to promote intraregional trade and commercial ties with its African allies, shifting its focus from “indiscriminate
December 28, 2018 in Investments -
Do climate policies ‘kill jobs’? An economist on why they don’t cause massive unemployment
AP Photo/David Goldman But President Donald Trump has dismissed this forecast, even though his own administration released a comprehensive synthesis of the best available science, written by hundreds of climate scientists and other experts from academia, government, the private sector and nonprofits. Like most opponents of policies aimed at slowing the pace of climate change,
December 28, 2018 in Investments -
Book on Steinhoff’s demise shows danger of ‘big men’ business leaders
Steinhoff CEO Markus Jooste was an excessively dominant, forceful and feared boss. Shutterstock The company’s history, and its subsequent evolution and demise, are skillfully told in a new book Steinhoff: Inside SA’s Biggest Corporate Crash, by former journalist James-Brent Styan. It is the story of a bold vision and ambition, entrepreneurial grit and guile, continuous
December 27, 2018 in Investments -
Politcal uncertainty – the only Achilles heel in SA’s renewables marketability
Although most G20 countries, including several emerging countries, have enhanced their conditions for investments in low-carbon energy in the past year, more has to be undertaken in order to meet the Paris climate targets. In addition, the G20 would need to develop and implement more ambitious, consistent and transparent long-term strategies to improve the investment
December 24, 2018 in Investments -
How low will Bitcoin now go? The history of price bubbles provides some clues
Nearly 170 years before the invention of Bitcoin, the journalist Charles Mackay noted the way whole communities could “fix their minds upon one object and go mad in its pursuit”. Millions of people, he wrote, “become simultaneously impressed with one delusion, and run after it, till their attention is caught by some new folly more
December 24, 2018 in Investments -
The big influences set to impact the property market in 2019
The factors that influence the performance of the property market are as numerous as there are fluctuations in the exchange rate. Still there are some definite trends that can be highlighted and that offer at least an indication of what the next year has in store for the industry. What happens in the property market
December 24, 2018 in Property & Real Estate -
Treasury holds colloquium in efforts to boost economy
Finance Minister Tito Mboweni has today convened a colloquium looking at interventions to grow the South African economy. Finance Minister, Tito Mboweni The academic seminar – being held at the South African Reserve Bank (Sarb) Conference Centre – sees academics, government officials, private sector experts and other strategic stakeholders coming together to hold discussions with
December 21, 2018 in Investments -
What makes a good investment manager?
American financial strategist Michael Mauboussin argues that all investing sits on the spectrum between pure skill (no luck) and pure luck (no skill). What is not factored in, however, is intention. “As an investment manager, if you can deliberately drive the outcome of the activity and repeat this, then more skill is involved,” says Vuyo
December 21, 2018 in Investments -
Angola reforms its oil & gas industry
Angola’s economy is set for recovery in 2019, largely due to a series of regulatory reforms in the oil and gas sector opening the country to new investment. Angolan President João Lourenço Since entering office in 2017, President João Lourenço has focused on cleaning up corruption and implementing aggressive reforms – changes in tax law
December 21, 2018 in Investments -
Cape Town CBD continues to attract hotel property developers
Even through South Africa’s technical recession and the Western Cape drought, foreign tourism rose by 2.4% in 2017, building on a 12.8% increase in 2016, while domestic travel showed the greatest increase since 2014, rising 4.2% in 2017. “The odds have been against us, what with a constrained economy, a drought, tourism visa issues and
December 21, 2018 in Property & Real Estate -
3 financing options for small businesses
Entrepreneurs need capital to get a business off the ground, or to fund expansion, improve cash flow, or buy inventory to meet consumer demand. But they consistently rank access to finance and cash flow as major challenges, and without this capital a small business will remain just that. Small. Bradley Wattrus That’s because it is
December 20, 2018 in Venture Capital -
Investing in rentable property
Purchasing a rental property is a major investment and can be a lucrative one. But before making a final decision, take a step back and do some research. Craig Hutchison, CEO Engel & Völkers Southern Africa says that it is important to take precautions when deciding to invest in buy-to-let property. “Take your time, look
December 20, 2018 in Property & Real Estate -
Is Africa hurtling towards a fiscal abyss?
Between the 1980s and early 2000s, several developing countries (many of them in Africa) accumulated large amounts of debt, which negatively impacted on economic growth, exacerbating poverty and underdevelopment among these countries. This experience created the impetus for the International Monetary Fund’s highly indebted poor country (HIPC) and multilateral debt relief (MDR) initiatives through which
December 19, 2018 in Investments -
#BestofBiz 2018: Finance
We’ve compiled our annual #BestofBiz 2018 lists across all our industries featuring our most popular articles, most-read contributors and brand press offices with the most views. Discover the most read content on Bizcommunity’s Finance & Insurance site over the past year below. Read more… | Send to a friend Source link
December 18, 2018 in Venture Capital -
SA may need to batten down its economic hatches in anticipation of a ‘hard’ Brexit
South Africa may need a contingency plan to protect its economy if a ‘hard’ Brexit becomes a reality in March 2019. There remains a great deal at stake for SA in the eventual outcome of Brexit, as the EU and the UK are SA’s largest trading partners. The decision by the UK government to delay
December 14, 2018 in Investments -
Theresa May dodges the bullet… This time
Theresa May has clung on to power in the United Kingdom, having won a leadership challenge within her own party. But her position is precarious. And the developments of the last two days have increased the chances of a Hard (or no-deal) Brexit. David Zahn, Franklin Templeton Fixed Income Group’s head of European Fixed Income,
December 13, 2018 in Investments -
Paving the way to increased intra-African trade
According to Minister of Trade and Industry, Rob Davies, the African continent is an “extremely important” market for South African business, especially those that trade in value-added products. Minister Rob Davies with South Africa’s ambassador to Egypt Vusi Mavimbela at the IATF South Africa National Pavilion. Speaking at the launch of the South African pavilion
December 12, 2018 in Investments -
2018 ending on a more positive note
News that South Africa’s GDP increased by 2.2% in Q3, with fuel prices considerably reduced and the end of the technical recession, has ended the year (2018) on a more positive note. Dr Andrew Golding, chief executive of the Pam Golding Property group This has been a tough year. A troubled global backdrop, coupled with
December 12, 2018 in Property & Real Estate -
2018 ending on a more positive note
News that South Africa’s GDP increased by 2.2% in Q3, with fuel prices considerably reduced and the end of the technical recession, has ended the year (2018) on a more positive note. Dr Andrew Golding, chief executive of the Pam Golding Property group This has been a tough year. A troubled global backdrop, coupled with
December 12, 2018 in Property & Real Estate -
Attending the business and investment round table
On 4 December 2018, our CEO, Mr Kamal P. Timmal, was invited by the City of Johannesburg Mayor, Mr Herman Mashaba. We sat down with Mr Kamal Timmal to get an exclusive interview about what he thought of the event and get insight to South African business and investment and what it means to him
December 11, 2018 in Investments -
2019 Knight Frank Prime Global Forecast released
The proliferation of property market regulations, the rising cost of finance, uncertainty surrounding Brexit and, in some markets, a high volume of new prime supply, is weighing on prime prices. However, key European cities are bucking the trend for lower growth, and are leading the rankings with prices expected to rise by 6% in Madrid,
December 11, 2018 in Property & Real Estate -
2019 Knight Frank Prime Global Forecast released
The proliferation of property market regulations, the rising cost of finance, uncertainty surrounding Brexit and, in some markets, a high volume of new prime supply, is weighing on prime prices. However, key European cities are bucking the trend for lower growth, and are leading the rankings with prices expected to rise by 6% in Madrid,
December 11, 2018 in Property & Real Estate -
Atlantis R2.4bn SEZ to bolster investment
The special economic zone (SEZ) lanched in Atlantis is expected to attract large-scale investment that will create jobs and bolster manufacturing in the area and the Western Cape. The 124.5-hectare area is designated for the establishment of a green technologies hub in the Western Cape. This means that the special economic zone will oversee the
December 7, 2018 in Investments -
Fitch rating maintains SA’s credit ratings
Rating agency Fitch’s outlook assessment this week kept South Africa’s foreign and local currency credit ratings below investment grade at BB+ with a stable outlook, National Treasury said. According to Fitch, the ratings affirmation and stable outlook are based on the following factors: low growth potential, sizeable government debt and contingent liabilities and the risk
December 7, 2018 in Investments -
Africa farmers need finance that is focused on the entire value chain
A key inhibitor to achieving long-term sustainability for Africa’s agricultural practitioners, particularly small-holder and subsistence-level farmers lies in accessing adequate financing. “There is a real need to unlock financing for small-holder farmers to give them access to mechanisation and other technologies but there is no use in helping them buy a tractor and then they
December 6, 2018 in Investments -
Marius Muller officially takes reigns as Texton CEO
Marcel Golding has been named Texton Property Fund’s new chairman, while Marius Muller has been appointed its new CEO with immediate effect. Golding replaces Dempsey Naidoo. While Golding is non-executive, he has a shareholding in Texton, and the board’s current lead independent director, CA(SA) John Macey, will continue in this role. Marcel Golding, chairman, Texton
December 6, 2018 in Property & Real Estate -
Marius Muller officially takes reigns as Texton CEO
Marcel Golding has been named Texton Property Fund’s new chairman, while Marius Muller has been appointed its new CEO with immediate effect. Golding replaces Dempsey Naidoo. While Golding is non-executive, he has a shareholding in Texton, and the board’s current lead independent director, CA(SA) John Macey, will continue in this role. Marcel Golding, chairman, Texton
December 6, 2018 in Property & Real Estate -
Small businesses in Africa will be on the frontline of climate change
In Zambia businesses in the food processing sector, are in for a tough time. flickr/Simon Hess But there hasn’t been much discussion about what effects climate change will have in other areas – like in the continent’s small and medium business sector. This is a worrying oversight. Our research, conducted in Zambia and Botswana, revealed
December 6, 2018 in Investments -
Varying degrees of activity in real estate sector as markets await election outcome
While the economy continued to struggle with a tough economic environment which contributed to low rental growth across the country, confidence in the long-term outlook is prevalent in strong developer activity in all major cities. Development activity high in Joburg and Durban In Johannesburg, there is still rigorous demand for high quality accommodation and development
December 3, 2018 in Property & Real Estate -
Varying degrees of activity in real estate sector as markets await election outcome
While the economy continued to struggle with a tough economic environment which contributed to low rental growth across the country, confidence in the long-term outlook is prevalent in strong developer activity in all major cities. Development activity high in Joburg and Durban In Johannesburg, there is still rigorous demand for high quality accommodation and development
December 3, 2018 in Property & Real Estate -
Green technologies to flourish at Western Cape SEZ
President Cyril Ramaphosa is expected to launch the Atlantis Special Economic Zone (SEZ) this week. The launch of the 124.5ha area is designated for the establishment of a green technologies hub in the Western Cape. This follows the confirmed designation of the Atlantis SEZ status which was approved by cabinet on 8 June 2018. Speaking
December 3, 2018 in Manufacturing -
Green technologies to flourish at Western Cape SEZ
President Cyril Ramaphosa is expected to launch the Atlantis Special Economic Zone (SEZ) this week. The launch of the 124.5ha area is designated for the establishment of a green technologies hub in the Western Cape. This follows the confirmed designation of the Atlantis SEZ status which was approved by cabinet on 8 June 2018. Speaking
December 3, 2018 in Manufacturing -
Sentiment in housing market remains optimistic despite recession
For those looking to invest in a fixer-upper or a new build, now is the time, according to Craig Hutchison, CEO of Engel & Völkers Southern Africa. Whilst South Africa’s economy is technically in a recession, given two consecutive quarters of negative growth, there is a surprisingly optimistic sentiment in the housing market. This is
November 30, 2018 in Property & Real Estate -
Is the residential property market in better shape than most think?
According to the latest statistics from BetterBond, the residential real estate market is in much better shape than most people think, thanks to the “affordable” sector. “It may be more difficult to achieve home sales, and prices may not be rising as fast as one would like, but the fact is that both the number
November 29, 2018 in Property & Real Estate -
Is the residential property market in better shape than most think?
According to the latest statistics from BetterBond, the residential real estate market is in much better shape than most people think, thanks to the “affordable” sector. “It may be more difficult to achieve home sales, and prices may not be rising as fast as one would like, but the fact is that both the number
November 29, 2018 in Property & Real Estate -
Broll Property Intel’s Ghana Snapshot Q3:2018 looks at impact of economic influences on markets
Broll Property Intel released its Ghana Snapshot Q3:2018 report earlier this month, which investigates the country’s retail, office and industrial markets, assessing the current barriers to and opportunities for growth within each industry, taking the influence of the country’s economic performance into account. The report highlights some of the major economic challenges that Ghana has
November 29, 2018 in Property & Real Estate -
Broll Property Intel’s Ghana Snapshot Q3:2018 looks at impact of economic influences on markets
Broll Property Intel released its Ghana Snapshot Q3:2018 report earlier this month, which investigates the country’s retail, office and industrial markets, assessing the current barriers to and opportunities for growth within each industry, taking the influence of the country’s economic performance into account. The report highlights some of the major economic challenges that Ghana has
November 29, 2018 in Property & Real Estate -
Property experts’ reaction to interest rate hike
The South African Reserve Bank this week increased the repo rate from 6.5% to 6.75%. The prime lending rate has increased to 10.25%. With inflation close to the upper end of the Reserve Banks’ 3%-6% target range, many economists had predicted that we might see a rate hike. While not unexpected, the hike just before the
November 28, 2018 in Property & Real Estate -
Property experts’ reaction to interest rate hike
The South African Reserve Bank this week increased the repo rate from 6.5% to 6.75%. The prime lending rate has increased to 10.25%. With inflation close to the upper end of the Reserve Banks’ 3%-6% target range, many economists had predicted that we might see a rate hike. While not unexpected, the hike just before the
November 28, 2018 in Property & Real Estate -
SA remains top FDI destination on African continent
South Africa retains its position as the top foreign direct investment (FDI) destination on the African continent, according to the 2018 Ernst & Young (EY) Africa Attractiveness Survey. Morocco is poised to knock SA off top investmentspot 123rf.com South Africa shares the top rank position with Morocco. EY says they are also seeing investment shifting
November 27, 2018 in Investments -
TWIMS set to boost SA manufacturing
The launch of the newly established Toyota Wessels Institute for Manufacturing Studies (TWIMS) is set to boost South Africa’s manufacturing sector. The R56 million TWIMS, launched by Trade and Industry Minister Rob Davies on Monday, is set to develop world class capabilities and drive African industrialisation. “We are looking forward to this institution contributing to
November 27, 2018 in Manufacturing -
TWIMS set to boost SA manufacturing
The launch of the newly established Toyota Wessels Institute for Manufacturing Studies (TWIMS) is set to boost South Africa’s manufacturing sector. The R56 million TWIMS, launched by Trade and Industry Minister Rob Davies on Monday, is set to develop world class capabilities and drive African industrialisation. “We are looking forward to this institution contributing to
November 27, 2018 in Manufacturing -
How the conscious consumer is reshaping fashion retail
The conscious consumer is fast reshaping the retail fashion and textile landscape. At the recent ATF Trade Expo at the Cape Town International Convention Centre, Herman Pillay, CEO and chairman of TCI Apparel and Wear South African, recently explained how this group of consumers – who are demanding transparency and traceability – are changing the
November 26, 2018 in Manufacturing -
How the conscious consumer is reshaping fashion retail
The conscious consumer is fast reshaping the retail fashion and textile landscape. At the recent ATF Trade Expo at the Cape Town International Convention Centre, Herman Pillay, CEO and chairman of TCI Apparel and Wear South African, recently explained how this group of consumers – who are demanding transparency and traceability – are changing the
November 26, 2018 in Manufacturing -
It’s all about shining in the tough times
World markets are incredibly volatile at the moment, characterised by trade wars, increasing US interest rates, and the rise of populist parties in developed and developing markets alike. And South Africa hasn’t escaped the fall out with its sluggish economy and fiscal slippage. Andrew Chananie, head of leverage finance, Investec Yet, it is within the
November 26, 2018 in Venture Capital -
It’s all about shining in the tough times
World markets are incredibly volatile at the moment, characterised by trade wars, increasing US interest rates, and the rise of populist parties in developed and developing markets alike. And South Africa hasn’t escaped the fall out with its sluggish economy and fiscal slippage. Andrew Chananie, head of leverage finance, Investec Yet, it is within the
November 26, 2018 in Investments -
Privatisation, productivity and the potential of mini grids
To continue on the economic growth trajectory many African countries find themselves on, they need reliable, sustainable sources of energy. However, the continent finds itself trailing behind other emerging markets when it comes to power supply.. A major challenge the African energy sector continues to face is funding for energy projects. Political and credit risk
November 26, 2018 in Energy -
Privatisation, productivity and the potential of mini grids
To continue on the economic growth trajectory many African countries find themselves on, they need reliable, sustainable sources of energy. However, the continent finds itself trailing behind other emerging markets when it comes to power supply.. A major challenge the African energy sector continues to face is funding for energy projects. Political and credit risk
November 26, 2018 in Energy -
RAW Industries en route to a greener future
Real African Works (RAW), the first of its kind in South African Automotive Original Equipment Manufacturer (OEM) industry, currently specialising in city buses with a focus on Bus Rapid Transit System (BRT) being rolled out by various municipalities, launched on 21 November at Melrose Arch, Johannesburg. RAW complies with both local and International regulations in
November 23, 2018 in Manufacturing -
RAW Industries en route to a greener future
Real African Works (RAW), the first of its kind in South African Automotive Original Equipment Manufacturer (OEM) industry, currently specialising in city buses with a focus on Bus Rapid Transit System (BRT) being rolled out by various municipalities, launched on 21 November at Melrose Arch, Johannesburg. RAW complies with both local and International regulations in
November 23, 2018 in Manufacturing -
Sarb hikes repo rate by 25 basis points
The Monetary Policy Committee (MPC) of the South African Reserve Bank (SARB) has increased the repurchase rate (repo) by 25 basis points, effective 23 November. Reserve Bank Governor Lesetja Kganyago Governor Lesetja Kganyago said a multi-year electricity price increases, which made it difficult to disentangle first- and second-round effects. “The approach of the MPC is
November 23, 2018 in Investments -
Broll releases Q3:2018 snapshot report for Nigerian property markets
The Broll Property Intel Nigeria Snapshot Q3:2018 has been released, providing an overview of the country’s current economic standing and the state of its retail, office and industrial markets for both landlords and occupiers. Despite the Nigerian economy sustaining five consecutive quarters of positive growth (which effectively pulled the country out of a recession), economists
November 23, 2018 in Property & Real Estate -
Belt tightening ahead for homeowners as interest rate climbs
Homeowners and buyers will need to continue tightening their belts as the interest rate climbs and the economic and property market recovery takes longer than hoped. This follows the Reserve Bank’s Monetary Policy Committee (MPC) decision to hike the repo rate by 25 basis points to 6.75% (from 6.50%), increasing the base home loan rate
November 23, 2018 in Property & Real Estate -
Interest rate hike a disappointing decision at this juncture of the year
While many market commentators would probably have liked to be a fly on the wall during the Monetary Policy Committee’s earnest deliberations this week, the final outcome is what matters, and for homeowners with mortgages and credit debt, as well as aspirant home buyers, the news of a 25bps increase was not what they wanted
November 23, 2018 in Property & Real Estate -
The rise of the startup nation
Start JLM 2018 took place 11-17 November in Jerusalem, Israel, which has seen an influx of entrepreneurs emerge over the past six years, especially in medical and biotechnology. This year, 20 winners in the life sciences sector from 18 countries (including South Africa) gathered to connect with local tech leaders in an intense week-long programme,
November 22, 2018 in Venture Capital -
The rise of the startup nation
Start JLM 2018 took place 11-17 November in Jerusalem, Israel, which has seen an influx of entrepreneurs emerge over the past six years, especially in medical and biotechnology. This year, 20 winners in the life sciences sector from 18 countries (including South Africa) gathered to connect with local tech leaders in an intense week-long programme,
November 22, 2018 in Venture Capital -
10 easy ways to save on your grocery bill
Between tax hikes and escalating fuel prices, 2018 has been a sad year for the consumer. But, there are ways you can keep saving and beat the grocery bill. 1. Shop at the source For every step the item you buy has to take to get to you, there’s a markup, and someone has to
November 21, 2018 in Property & Real Estate -
Not enough being invested to meet energy goals
The finance required to close electricity gaps remain dramatically short of what is needed to meet global energy goals by 2030, leaving the worlds most vulnerable people behind, according to a new global report released today by Sustainable Energy for All (SEforALL). The Energizing Finance: Understanding the Landscape 2018 report analyses finance flows for electricity
November 21, 2018 in Investments -
Not enough being invested to meet energy goals
The finance required to close electricity gaps remain dramatically short of what is needed to meet global energy goals by 2030, leaving the worlds most vulnerable people behind, according to a new global report released today by Sustainable Energy for All (SEforALL). The Energizing Finance: Understanding the Landscape 2018 report analyses finance flows for electricity
November 21, 2018 in Investments -
Ghost of global financial crisis may come back to haunt investors
Although the markets have recovered well since the start of the global financial crisis (GFC) 10 years ago, investors could still be in for a rough ride, as the debt overhang that sparked the worst economic disaster in modern history has yet to be resolved. Maarten Ackerman, chief economist and advisory partner, Citadel The extremely
November 21, 2018 in Investments -
Renewables won’t solve Africa’s energy crisis on their own
Renewable energy alone is not the solution to Africa’s energy woes. There needs to be a continuation of base load power plants to collectively meet the growing power demand on the continent. The impact of not having electricity has far outweighed the cost of building new energy infrastructure, and African governments need to accelerate efforts
November 21, 2018 in Energy -
Renewables won’t solve Africa’s energy crisis on their own
Renewable energy alone is not the solution to Africa’s energy woes. There needs to be a continuation of base load power plants to collectively meet the growing power demand on the continent. The impact of not having electricity has far outweighed the cost of building new energy infrastructure, and African governments need to accelerate efforts
November 21, 2018 in Energy -
SA addressing policy, laws to attract investment
President Cyril Ramaphosa says South Africa is addressing policy and regulatory impediments as part of efforts to attract investment into the country. German President Frank-Walter Steinmeier and President Cyril Ramaphosa He said this during a media briefing when he hosted German President Frank-Walter Steinmeier at Tuynhuys in Cape Town. “How are we increasing that confidence?
November 21, 2018 in Investments -
Sustainable economic growth needs time
Several economic indicators in South Africa are in the red, headlined by the record-high fuel price breaching R17 per litre. Many South Africans are asking: “when will this end?” Tandisizwe Mahlutshana, PPS Investments’ marketing executive In the third quarter, 127,000 jobs were lost with many more looming as a number of companies continue to battle
November 20, 2018 in Investments -
Brace yourself for coming interest rate hikes
Nobody likes to hear bad news, but it is always better to be prepared than to be caught off guard. Consider this your ‘extreme weather warning’ as we brace for the wave of imminent interest rate hikes to reach our shores. Thus far, the Monetary Policy Committee (MPC) has treated consumers kindly, announcing an interest
November 20, 2018 in Property & Real Estate -
Nespresso teams up with Rio Tinto to make coffee pods greener
Nespresso, part of food giant Nestlé, will become the first company to use responsibly-sourced aluminium to produce its coffee capsules. The company has signed a Memorandum of Understanding with major metal company Rio Tinto, which will see them work together with Nespresso’s capsule manufacturers to fulfill a commitment of sourcing 100% sustainable aluminium by 2020.
November 20, 2018 in Manufacturing -
Nespresso teams up with Rio Tinto to make coffee pods greener
Nespresso, part of food giant Nestlé, will become the first company to use responsibly-sourced aluminium to produce its coffee capsules. The company has signed a Memorandum of Understanding with major metal company Rio Tinto, which will see them work together with Nespresso’s capsule manufacturers to fulfill a commitment of sourcing 100% sustainable aluminium by 2020.
November 20, 2018 in Manufacturing -
a weak or strong link in your value chain?
What sets manufacturing apart from other industries is that it is the highest job multiplier out of any industry sector, states the World Bank. Currently, South Africa imports an astounding $83.2 billion worth of products, which, if manufactured locally, would have created over 1.3 million jobs. For every rand invested in manufacturing, fiscal revenue increases
November 19, 2018 in Manufacturing -
a weak or strong link in your value chain?
What sets manufacturing apart from other industries is that it is the highest job multiplier out of any industry sector, states the World Bank. Currently, South Africa imports an astounding $83.2 billion worth of products, which, if manufactured locally, would have created over 1.3 million jobs. For every rand invested in manufacturing, fiscal revenue increases
November 19, 2018 in Manufacturing -
Creating an enabling environment for SMMEs, entrepreneurs
Trade and Industry Deputy Minister Bulelani Magwanishe says government is on hand to create an enabling environment for entrepreneurs and small, medium micro enterprises (SMMEs) to thrive. Bulelani Magwanishe Speaking at the two-day Vhembe SMME Summit in Thohoyandou, Limpopo, Magwanishe said small businesses were a priority as they generate jobs. “The South African government recognises
November 19, 2018 in Investments -
Colgate vs Bitcoin: Reasons to invest in the goliaths
Amidst rapidly changing economic conditions, trends and technology, South African investors seeking to grow their wealth should be wary of attempting to identify the next Bitcoin or Apple. Instead, choosing to invest in well-established, multinational brands with proven track records is a far better predictor of future investment success, says Scott Cooper, Chief Executive Officer
November 19, 2018 in Investments -
Almost 40% of all possible rental tenants are high-risk
South African rental growth continues to slow, according to the latest PayProp Rental Index for Q3 2018, reaching a level of only 3.25% for the quarter. The data also shows that 37.2% of all rental tenants are classified as high-risk. PayProp head of data and analytics Johette Smuts says this to be expected considering the
November 19, 2018 in Property & Real Estate -
Book on Steinhoff’s demise shows danger of ‘big men’ business leaders
The company’s history, and its subsequent evolution and demise, are skillfully told in a new book Steinhoff: Inside SA’s Biggest Corporate Crash, by former journalist James-Brent Styan. It is the story of a bold vision and ambition, entrepreneurial grit and guile, continuous innovation, relentless risk-taking, corporate hubris, and friendship betrayals. The extraordinary way in which
November 16, 2018 in Investments -
The tail wagging the dog – how politics is driving the value of the rand
Bianca Botes</span>Over the past few years, investors have proved that regardless of the economic soundness of a particular nation, political stability is now a crucial determinant of sentiment and, consequently, capital flows to that country. Just consider the effects of Nenegate, Brexit and, of course, the presidency of Donald Trump. Read more… | Send to
November 15, 2018 in Investments -
Africa can learn from EU: Ramaphosa
Africa can draw lessons from the European Union’s path to integration, economic and political union, and achieving social progress, says President Cyril Ramaphosa. President Cyril Ramaphosa In his address on Wednesday, the president said the European Union (EU) was born out of the need to end the historic divisions on that continent, to create a
November 15, 2018 in Investments -
#FLS2018: Downgrade or not?
South Africa’s economy is one that’s vulnerable to the global economy, but it is the internal issues the country faces that will determine whether it will face a downgrade or not. “The risk of a downgrade has increased so we are in a bit of trouble,” said FNB chief economist Mamello Matikinca-Ngwenya in her macroeconomic
November 15, 2018 in Investments -
Debt-ridden African countries return to the IMF fold
There are a number of sub-Saharan African countries where the International Monetary Fund (IMF) warned debt servicing costs were becoming a burden, especially in oil-producing countries. Among these are Angola, Gabon and Nigeria. Overall, public debt rose above 50% of gross domestic product (GDP) in some 22 countries at the end of 2016, up from
November 14, 2018 in Investments -
African Development Bank launches energy portal
An online portal has been launched by the African Development Bank, which will consolidate, validate and disseminate energy data and insights across Africa’s energy value chain, covering generation, transmission, distribution, regulation and policy. The Africa Energy Portal is designed to address a lack of information in the sector, by providing a one-stop-shop for accurate, reliable,
November 13, 2018 in Investments -
African Development Bank launches energy portal
An online portal has been launched by the African Development Bank, which will consolidate, validate and disseminate energy data and insights across Africa’s energy value chain, covering generation, transmission, distribution, regulation and policy. The Africa Energy Portal is designed to address a lack of information in the sector, by providing a one-stop-shop for accurate, reliable,
November 13, 2018 in Energy -
African Development Bank launches energy portal
An online portal has been launched by the African Development Bank, which will consolidate, validate and disseminate energy data and insights across Africa’s energy value chain, covering generation, transmission, distribution, regulation and policy. The Africa Energy Portal is designed to address a lack of information in the sector, by providing a one-stop-shop for accurate, reliable,
November 13, 2018 in Energy -
Helping SA companies to get serious about innovation
South Africa fares poorly when it comes to innovation in part because many organisations have no clear guidelines on what innovation actually entails – nor with specific criteria on innovation team composition, says newly appointed senior lecturer at the Allan Gray Centre for Values-Based Leadership at the UCT GSB Dr Christina Swart-Opperman. Innovation is considered
November 12, 2018 in Investments -
5 buying secrets from property investors
When starting out as a property investor a lack of knowledge can lead to costly mistakes. There is so much conflicting information out there that it is easy for a new investor to become confused and end up making the wrong decisions. Follow these five simple tips for finding the perfect property and you’ll be
November 12, 2018 in Property & Real Estate -
#AOW2018: Driving growth through resources
Africa Oil Week held in Cape Town recently was a veritable who’s who of oil and gas players on the continent. A ministerial panel gave insight into the aspirations of some of the countries. Oil is the main driver of economic growth in Nigeria, producing 85% of its income. But the government is trying to
November 12, 2018 in Investments -
#AOW2018: Driving growth through resources
Africa Oil Week held in Cape Town recently was a veritable who’s who of oil and gas players on the continent. A ministerial panel gave insight into the aspirations of some of the countries. Oil is the main driver of economic growth in Nigeria, producing 85% of its income. But the government is trying to
November 12, 2018 in Investments -
Spire joins CORFAC International real estate brokerage network
When shopping for offshore commercial property investments, knowing what to buy in which area of which country that will offer the highest returns and the lowest risk can be challenging for investors. This is according to Gregg Huntingford, CEO of Spire Property Management, who says that there has not been an easily accessible way for
November 12, 2018 in Property & Real Estate -
Africa’s bumpy road to sustainable energy
Sub-Saharan Africa produces approximately 62-million tonnes of waste per year, including plastic waste, according to the World Bank. With Africa’s rapid urbanisation and economic growth, environmentalists expect that figure to double by 2025. Reppie thermal plant. Photo: Cambridge Industries Yet Africa’s epidemic of waste may very well contain the seeds of a solution to another
November 12, 2018 in Energy -
Africa’s bumpy road to sustainable energy
Sub-Saharan Africa produces approximately 62-million tonnes of waste per year, including plastic waste, according to the World Bank. With Africa’s rapid urbanisation and economic growth, environmentalists expect that figure to double by 2025. Reppie thermal plant. Photo: Cambridge Industries Yet Africa’s epidemic of waste may very well contain the seeds of a solution to another
November 12, 2018 in Energy -
Africa’s bumpy road to sustainable energy
Sub-Saharan Africa produces approximately 62-million tonnes of waste per year, including plastic waste, according to the World Bank. With Africa’s rapid urbanisation and economic growth, environmentalists expect that figure to double by 2025. Reppie thermal plant. Photo: Cambridge Industries Yet Africa’s epidemic of waste may very well contain the seeds of a solution to another
November 12, 2018 in Energy -
Invest in skills and capabilities for Africa to grow
For Africa to realise its full potential, the continent needs to invest in the skills, capabilities and well-being of its citizens. Africa also needs to improve governance and promote peace and stability, which continue to be its Achilles heel. This is according to President Cyril Ramaphosa, who addressed hundreds of delegates at the inaugural Africa
November 9, 2018 in Investments -
Sudan poised for second boom
Sudan started producing oil in 1999. At the time of South Sudan’s secession in 2011, the country was producing 500 000 barrels per day. Two years later, the country was plunged into a civil conflict, and oil production dwindled to 75 000 barrels per day. “We are now emerging out of the situation. The embargo
November 9, 2018 in Energy -
Sudan poised for second boom
Sudan started producing oil in 1999. At the time of South Sudan’s secession in 2011, the country was producing 500 000 barrels per day. Two years later, the country was plunged into a civil conflict, and oil production dwindled to 75 000 barrels per day. “We are now emerging out of the situation. The embargo
November 9, 2018 in Energy -
Atterbury, Talis Investment Partners conclude significant B-BBEE deal
Atterbury recently announced the conclusion a B-BBEE transaction that secures 30% black ownership of the Atterbury Property Fund (APF). The fund is now 30% owned by Talis Investment Partners (TIP) and 70% owned by Atterbury Property Investments (API), a subsidiary of Atterbury Property Holdings. L-R: CEO and cofounder of Atterbury Louis van der Watt, and
November 9, 2018 in Investments -
The affordable housing market is outperforming the rest
In a recent evaluation of the total 8-million South African properties, Lightstone’s analytics has revealed that the affordable sector (low and mid value) is by far the largest portion of the residential property market, amounting to 71.4% of the total volume of properties in South Africa. Lightstone’s affordable property market is defined as properties with
November 8, 2018 in Property & Real Estate -
Wind turbines aren’t quite ‘apex predators’, but the truth is far more interesting
Wind turbines are, it appears, everywhere. Even if you can’t see some on the horizon on your way into work every day, it is hard to miss the continual news coverage of new developments. Clearly, efforts to move away from fossil fuels are – at least in part – working, and from the perspective of
November 8, 2018 in Energy -
Wind turbines aren’t quite ‘apex predators’, but the truth is far more interesting
Wind turbines are, it appears, everywhere. Even if you can’t see some on the horizon on your way into work every day, it is hard to miss the continual news coverage of new developments. Clearly, efforts to move away from fossil fuels are – at least in part – working, and from the perspective of
November 8, 2018 in Energy -
SA “aggressively” pursuing a new refinery with Saudis, Radebe says
South Africa’s much mooted seventh refinery is on the way. Energy Minister Jeff Radebe told a press conference at Africa Oil Week that he is “working aggressively to make it [a new refinery] happen” with investment from Saudi Arabia. Dr Fatih Birol, executive director, International Energy Agency, and South African Energy Minister Jeff Radebe President
November 7, 2018 in Investments -
SA “aggressively” pursuing a new refinery with Saudis, Radebe says
South Africa’s much mooted seventh refinery is on the way. Energy Minister Jeff Radebe told a press conference at Africa Oil Week that he is “working aggressively to make it [a new refinery] happen” with investment from Saudi Arabia. Dr Fatih Birol, executive director, International Energy Agency, and South African Energy Minister Jeff Radebe President
November 7, 2018 in Investments -
The ins and outs of financing a property abroad
There are plenty of hoops to jump through when investing in foreign property, but it is a wise and healthy form of wealth management, according to South African expat and co-owner of RE/MAX Malta, Elsabie van der Merwe. “Though the process is much simpler if the buyer has the funds readily available, acquiring a home
November 7, 2018 in Property & Real Estate -
The market will be fine, but what about the city?
There is currently much debate on whether the Cape Town property market, specifically the CBD, is overheated and whether the market will come tumbling down or not. With prices having climbed consistently over the last couple of years, the question is who will be able to afford the rentals that will give investors a fair
November 6, 2018 in Investments -
Each generation has its own investment habits
Whether its X, Y or Z, each generation exhibits different idiosyncracies, even when it comes to their finances. Guy Fletcher “Understanding the generational personalities could be a way to glean insight into ourselves and overcome innate biases. It’s also a way for financial services professionals to offer more relevant and customised advice that’s 100% focused
November 5, 2018 in Investments -
Land reform an economic necessity, says Ramaphosa
Land reform is not only about correcting a grave historical injustice, it is an absolute economic necessity, says President Cyril Ramaphosa. “Accelerated land reform, undertaken within the framework of the country’s Constitution and in adherence with the law, can be an effective catalyst for greater agricultural production, rural development, employment creation and broader economic growth.
November 5, 2018 in Property & Real Estate -
Bitcoin has evolved from a currency to a commodity
When the pseudonymous Satoshi Nakamoto came up with cryptocurrency 10 years ago, he envisaged a global digital monetary system free from regulatory constraints. Yet that’s far from how the concept evolved. “In 2018, cryptocurrencies in general have sharply limited relevance, if any, to the way that money is moved around the world,” says Samuel Murrant,
November 2, 2018 in Investments -
Miga guarantees solar PV investments
Guarantees covering 90% of investments made by Scatec Solar ASA for constructing, ownership, operation and maintenance of six solar photovoltaic (PV) power plants in South Africa, have been issued by Miga, a member of the World Bank Group. They cover against the risks of breach of contract and transfer restrictions and convertibility for up to
November 2, 2018 in Investments -
ESG should be part of a financial advisor’s fiduciary duty
Incorporating non-financial indicators such as environmental, social and governance (ESG) factors into investment decisions should play an increasingly important role in a financial advisor’s fiduciary duty to mitigate risks. Roland Gräbe Growing pressures around compliance from regulators and concerns from clients about management, performance, unsustainable corporate practices, and costs, has created a need for investment
November 1, 2018 in Investments -
New report highlights 5 agricultural investment opportunities in Africa
Andrew Shirley, London-based head of rural research at Knight Frank, said: “The rationale for investing in African agriculture is strong. “The continent’s population is set to grow by 1.3-billion by the year 2050, meaning many more mouths to feed. More and more of these people will also be living in urban areas with higher disposable
November 1, 2018 in Investments -
Real Bicycle Co. aims to re-shore bicycle design and assembly
Real Bicycle Co. (RBC), a wholly owned subsidiary of not-for-profit organisation Qhubeka, has moved from perfecting its first locally-produced commuter bicycle prototype to full-scale production, with the aim of re-shoring bicycle manufacturing in South Africa. Image credit: Daniel Coetzee for ZCMC Qhubeka has distributed more than 90,000 bicycles through its programmes to improve people’s access
November 1, 2018 in Manufacturing -
Real Bicycle Co. aims to re-shore bicycle design and assembly
Real Bicycle Co. (RBC), a wholly owned subsidiary of not-for-profit organisation Qhubeka, has moved from perfecting its first locally-produced commuter bicycle prototype to full-scale production, with the aim of re-shoring bicycle manufacturing in South Africa. Image credit: Daniel Coetzee for ZCMC Qhubeka has distributed more than 90,000 bicycles through its programmes to improve people’s access
November 1, 2018 in Manufacturing -
Airbus launches white paper on aerospace technologies in Africa
Airbus released The Great Enabler: Aerospace in Africa – a white paper on the role of aerospace technologies and their impact on socio-economic development in Africa. The extensive report looks at how different segments of the industry can address a core set of challenges on the continent by: increasing access to healthcare; enhancing food security
October 31, 2018 in Manufacturing -
Airbus launches white paper on aerospace technologies in Africa
Airbus released The Great Enabler: Aerospace in Africa – a white paper on the role of aerospace technologies and their impact on socio-economic development in Africa. The extensive report looks at how different segments of the industry can address a core set of challenges on the continent by: increasing access to healthcare; enhancing food security
October 31, 2018 in Manufacturing -
Airbus launches white paper on aerospace technologies in Africa
Airbus released The Great Enabler: Aerospace in Africa – a white paper on the role of aerospace technologies and their impact on socio-economic development in Africa. The extensive report looks at how different segments of the industry can address a core set of challenges on the continent by: increasing access to healthcare; enhancing food security
October 31, 2018 in Manufacturing -
Industrial, logistics accommodation growing in strength
Zandile Makhoba, head of research for Sub-Saharan Africa, JLL, comments: “As the technology economy advances, tertiary sectors – which provide products and services to all other industries in the economy – will continue to dominate. It is this context in which industrial and logistics accommodation is growing in strength.” Changing development specifications The report highlights
October 31, 2018 in Property & Real Estate -
Response to the medium-term budget policy statement: 2018
In what was probably one for the more anticipated medium-term budget policy statements (MTBPS) new Minister of Finance Tito Mboweni had several challenges to consider for the MTBPS. High unemployment, national debt, corporate governance failures at some government departments, especially at municipality level, and at some state-owned enterprises (SOEs) and the risk of further down-grades
October 30, 2018 in Investments -
Did South Africa’s investment summit mark a game-changing moment?
South African President Cyril Ramaphosa addresses a recent investment summit. Flickr.com/GovernmentZA But the summit could be more than the sum of its parts. It could be an important step forward to reviving economic growth in South Africa. One notable outcome was that, in one crucial respect, Ramaphosa nailed his colours firmly to the mast. After
October 30, 2018 in Investments -
companies clamour to put it on your plate
Fifteen months later, the company has said this will take the form of paid-for consumer taste tests of its chicken meat product at a small number of restaurants. But, with the clock ticking, Just maintains it will have the world’s first commercially available cell-based meat ready before the year is out. This isn’t the only
October 30, 2018 in Manufacturing -
companies clamour to put it on your plate
Fifteen months later, the company has said this will take the form of paid-for consumer taste tests of its chicken meat product at a small number of restaurants. But, with the clock ticking, Just maintains it will have the world’s first commercially available cell-based meat ready before the year is out. This isn’t the only
October 30, 2018 in Manufacturing -
Lesego Sennelo joins Redefine board as independent non-executive director
Redefine Properties has appointed Lesego Sennelo to its board as an independent non-executive director from 2 November 2018. Lesego Sennelo joins Redefine board as independent non-executive director from 2 November 2018. A qualified chartered accountant with vast experience in both the private and public sectors, Sennelo is the immediate past president of the African Women
October 29, 2018 in Property & Real Estate -
The when, where and how of investing in property
Real estate has proven over and over that it is the best investment you can make. Understanding when, where and how to invest is the key to building a strong property portfolio and becoming financially independent. Savvy investors buy properties, hold on to them, and sell them off once they have gained value. This can
October 29, 2018 in Property & Real Estate -
A South African’s guide to moving to and making it in Malta: Invest in stone
The Maltese have a saying – invest in stone – which means put your money into property. Historically, all houses were constructed from limestone blocks and you quarried your stone from your plot. That explains why so many pre-war Maltese homes have basements since this was from where they extracted their building blocks. With the
October 26, 2018 in Property & Real Estate -
Fitch affirms Eskom credit rating
Fitch Ratings’ decision to affirm its BB- credit rating is a result of measures it has put in place to ensure sustainability. “The ratings action is an affirmation of extensive measures that have been implemented by the company’s leadership in transitioning Eskom from business as usual towards sustainability,” Phakamani Hadebe, Eskom’s group chief executive said.
October 26, 2018 in Investments -
Southern Africa strengthens relations with European Union at fifth South Africa-Italy Summit
The European Union (EU) is today the number-one exporter to Southern Africa, its main trade partner and the major investor in the region. Within this context, some of the most influential business leaders from Southern Africa and Europe gathered in Johannesburg to explore exciting opportunities for growth and investment. The fifth edition of the South
October 26, 2018 in Investments -
IFA Hotels & Resorts, Jaltech launch R2bn property fund
Kuwait’s IFA Hotels & Resorts and financial consulting firm Jaltech have entered into a joint venture to create the R2bn Zimbali Capital property fund. Zimbali Lakes Resort Gatehouse The fund is a Section 12J Venture Capital Company which will allow IFA and its associate partners to raise capital under the Section 12J scheme for both
October 26, 2018 in Property & Real Estate -
Metal packaging market share shrinks, but collection rates grow
The latest packaging report released earlier this year by local research house, BMi Research, has revealed that the collection rate of metals packaging in South Africa continues to grow year-on-year. An impressive 75.8 % of all metal packaging that entered the South African market during 2017 was recovered, compared to 73% the previous year –
October 25, 2018 in Manufacturing -
Metal packaging market share shrinks, but collection rates grow
The latest packaging report released earlier this year by local research house, BMi Research, has revealed that the collection rate of metals packaging in South Africa continues to grow year-on-year. An impressive 75.8 % of all metal packaging that entered the South African market during 2017 was recovered, compared to 73% the previous year –
October 25, 2018 in Manufacturing -
MTBPS should inspire economic and investor confidence
Straight-talking as expected, the minister of finance’s medium-term budget policy statement sought to inspire investor and market confidence in South Africa by reinforcing the five measures recently highlighted by the president in order to stimulate the economy. Tito Mboweni, South Africa’s recently sworn in minister of finance, delivered the 2018 medium-term budget policy statement this
October 25, 2018 in Investments -
New blockchain savings platform to launch in SA
Fintech company Stackr and blockchain-focused software developer NONA are set to release to market the first saving solution for the blockchain community in South Africa. Stackr is a complete long-term savings solution that enables investors to hold a diversified portfolio of both capital and digital assets, using a personalised trust structure. The NONA team will
October 25, 2018 in Investments -
This Thursday’s Impact Investing Forum to lead national conversation around investment
The endorsement of the Impact Investment Forum that will take place the day before the South African Investment Summit signals recognition at the highest levels that growth for growth’s sake is not going to be enough to lift South Africa out of the doldrums. The inaugural South African Investment Summit that will take place this
October 24, 2018 in Investments -
Corporate content should be part of your DNA
Business decisions are often made on the basis of brand image or brand story. In the B2B space, corporate content is a means of reinforcing company culture, ensuring that intrinsic brand values reflect extrinsic perceptions. Stories about company mission, vision and values, authenticity, heritage and diversity can make companies more approachable and relevant to prospects,
October 24, 2018 in Investments -
Corporate content should be part of your DNA
Business decisions are often made on the basis of brand image or brand story. In the B2B space, corporate content is a means of reinforcing company culture, ensuring that intrinsic brand values reflect extrinsic perceptions. Stories about company mission, vision and values, authenticity, heritage and diversity can make companies more approachable and relevant to prospects,
October 24, 2018 in Energy -
Nzimande to launch R1bn train factory
Transport Minister Blade Nzimande will on Thursday, 25 October 2018, launch a train manufacturing factory at Dunnottar Park in Nigel, Ekurhuleni. Source: Apichart Surachartmathin © 123RF The event will coincide with the commemoration of Transport Month under the theme ‘Together, we move South Africa Forward’. October Transport Month 2018, the Department of Transport said, focuses
October 24, 2018 in Manufacturing -
Heads roll amid VBS municipal probe
Cooperative Governance and Traditional Affairs (Cogta) Minister, Dr Zweli Mkhize, says several municipal officials have been suspended and in some instances, charged with fraud in relation to investments made in VBS Mutual Bank. Zweli Mkhize, minister of cooperative governance and traditional affairs Mkhize appeared before the Portfolio Committee on Cogta in Parliament on Tuesday to
October 24, 2018 in Investments -
Bizcommunity Recruitment in Africa Focus
Job creation, empowerment, enablement are at the core of Bizcommunity’s business model. Every month Bizcommunity, South Africa and Africa’s biggest online B2B publishers, post up to 4,000 job vacancies on behalf of corporate and recruiter clients. The most abundant jobs usually appear in the Marketing & Media, ICT, Retail, Finance and Tourism sectors as well
October 23, 2018 in Venture Capital -
Bizcommunity Recruitment in Africa Focus
Job creation, empowerment, enablement are at the core of Bizcommunity’s business model. Every month Bizcommunity, South Africa and Africa’s biggest online B2B publishers, post up to 4,000 job vacancies on behalf of corporate and recruiter clients. The most abundant jobs usually appear in the Marketing & Media, ICT, Retail, Finance and Tourism sectors as well
October 23, 2018 in Energy -
Bizcommunity Recruitment in Africa Focus
Job creation, empowerment, enablement are at the core of Bizcommunity’s business model. Every month Bizcommunity, South Africa and Africa’s biggest online B2B publishers, post up to 4,000 job vacancies on behalf of corporate and recruiter clients. The most abundant jobs usually appear in the Marketing & Media, ICT, Retail, Finance and Tourism sectors as well
October 23, 2018 in Venture Capital -
Should Africa be wary of Chinese investment?
Africa being made up of diverse countries has a mixed relationship with China with each country independently securing agreements and deals dependant on the whim of the incumbent governments. Against this background, the continent has still seen promising change from Chinese aid with the country becoming the world’s largest supporter of Africa’s economic development, and
October 23, 2018 in Investments -
Solar can save Africa
The spectre of climate change reared its ugly head in June 2018, when the dammed lake that supplies Bouake, the second largest city of Cote d’Ivoire, ran dry, leave the city without water. Photo: Solarplaza As a result of the drought, the people of Cote d’Ivoire went through extraordinary hardships affecting everything in their daily
October 23, 2018 in Energy -
2018 South Africa-Italy Indaba/Summit set to boost EU-Africa trade and investment relations
The European House – Ambrosetti Group (TEH-A), a leading Italian think tank and management consulting firm is organising an exclusive pan-European and pan-African platform Africa Europe CEO Dialogue aimed at creating strategic business partnerships that will reinforce EU-Africa trade and investment relations. Over 200 high-powered business and political leaders will attend the fifth edition of
October 22, 2018 in Investments -
Trading while caring for people and planet
Ratifications are moving ahead, if slowly, on the newly signed African Continental Free Trade Agreement (AfCFTA) – the world’s largest free trade agreement (with the most member countries) since the founding of the World Trade Organization. ©Somkid Chaijitvanit via 123RF The African Union and its member countries hope that, among other benefits, a free trade
October 22, 2018 in Manufacturing -
Has 10 years of zero growth damaged fundamental belief in property?
Traditionally, property has always been a cornerstone of anyone’s investment portfolio. But an investment demands a return. Since the financial crisis of 2008, the residential property has performed very poorly, not quite keeping up with inflation for 10 years. At 4.8% growth (against inflation at 5%) the market has, in fact, flat-lined over the longest
October 22, 2018 in Property & Real Estate -
Prospects already looking up for SA home buyers
Ahead of the medium-term budget policy speech and the SA Investment Summit this week, things are already looking up for home buyers and owners in SA thanks to a stronger rand, declining inflation and improving employment prospects. This follows President Ramaphosa’s national jobs summit earlier this month and his appointment of former Reserve Bank governor
October 22, 2018 in Property & Real Estate -
Bertha Centre celebrates launch of SA’s first social impact bond
Social impact bonds are ideally suited to emerging markets and have the potential to reduce costs and improve service delivery say experts from the UCT Graduate School of Business’ (GSB) Bertha Centre following the launch of a fund focussed on early childhood development in Cape Town. The successful launch of the Impact Bond Innovation Fund
October 19, 2018 in Investments -
How building eco-friendly hotels can help develop ROI
Hotel investors and developers are inspecting the financial spreadsheets in search of a return on investment (ROI) for responsible development. In this day and age, building ‘green’ should be the norm rather than the exception, however, misconceptions on green building ‘tax’ still seem to hinder the decision. The key elements of a green hotel are
October 19, 2018 in Property & Real Estate -
Channelling FDI in the right direction
President Cyril Ramaphosa has returned triumphant from his international investment roadshow, having secured billions of dollars in foreign direct investment (FDI). And while no one can argue against this economic stimulus, it needs to be the right kind of FDI to overcome South Africa’s spiralling unemployment, abject poverty and widening inequalities, Deepa Vallabh The country
October 19, 2018 in Investments -
What SMEs should know before paying a cyber ransom
Increasingly, small and medium enterprises (SMEs) are becoming the target of cyberattacks, yet most are still completely unprotected. There is often a lack of preparation and awareness around the important things that small business owners need to consider before paying cybercriminals to restore their encrypted information. Simon Colman, executive head: digital distribution at SHA. A
October 18, 2018 in Investments -
Tax, tax and more tax
There is bound to be a lot of interest in what the new finance minister, Tito Mboweni, has to say the Medium Term Budget Policy Statement (MTBPS) iat the end of October. National Treasury estimated a revenue shortfall of R48.2bn in 2017/18 during the February Budget Review. The main proposed tax measures subsequently implemented to
October 18, 2018 in Investments -
Investing in property? What you need to know
Beleaguered in recent years, subject to the drama of political developments and weighed down by global sluggishness, the economy has played havoc with the investment potential of the property industry. However, optimists believe that this is about to change. What do investors need to know about investing in this uncertain climate? Marna van der Walt
October 17, 2018 in Property & Real Estate -
M&C Saatchi Abel gives light to new Nelson Mandela Bay precinct
M&C Saatchi Abel has led a consortium that has won a bid to design a new precinct for Nelson Mandela Bay to honour Madiba’s contribution to South Africa, as well as elevate the city’s status as a hub for socio-economic transformation, tourism and employment opportunities. The city hosted a competition open to all South Africans
October 17, 2018 in Property & Real Estate -
New realities beyond traditional IT that embrace Industry 4.0
Industry 4.0, driven by the Internet of Things (IoT) has become central to digital transformation in the manufacturing industry. More than just a flashy catchphrase, Industry 4.0 brings with it trends and technologies that promise to reshape the way things are made. Speaking at the NEC XON’s annual summit, George Senzere, Schneider Electric’s solutions engineering
October 17, 2018 in Manufacturing -
IT and the green economy identified as future-orientated businesses in South Africa
South African SMEs (small and medium enterprises) are estimated to represent 90% of formal businesses, provide employment to about 60% of the labour force and contribute approximately 34% of the country’s GDP. In an effort to further grow this sector and boost a struggling economy, leading global financial services firm, J.P. Morgan, has been supporting
October 15, 2018 in Investments -
The best Biz summer holiday (content) package ever!
Feeling a bit state-capsized, swept along by more waves than a cryptocurrency chart? Here are some life-saving festive content ideas: 1. Show off your summer body (copy) The end of the year is the ideal time to show off achievements, by publishing your most buff stories on Biz – honour individual or teams, outreach projects
October 15, 2018 in Venture Capital -
The best Biz summer holiday (content) package ever!
Feeling a bit state-capsized, swept along by more waves than a cryptocurrency chart? Here are some life-saving festive content ideas: 1. Show off your summer body (copy) The end of the year is the ideal time to show off achievements, by publishing your most buff stories on Biz – honour individual or teams, outreach projects
October 15, 2018 in Investments -
Regulations keep IFAs awake at night
Independent financial advisers (IFAs) believe one of their greatest challenges now and over the next five years is regulations related to the industry, according to an internal study conducted by Momentum Intermediary Solutions. Of primary concern is the lingering uncertainty of what is expected of them once the phasing in process of the Financial Sector
October 15, 2018 in Investments -
Industry 4.0 to deliver the foundation for manufacturing’s future
Faced with customer demands that are evolving faster than ever and the pressure of ongoing economic uncertainty, manufacturers are turning to digital transformation to meet future needs. More efficient operations, a deeper knowledge of customers and bringing new products to market at speed is resulting in the emergence of Industry 4.0 to deliver the foundation
October 15, 2018 in Manufacturing -
A South African's guide to moving to and making it in Malta: Who wants to be a millionaire?
© [[http://albums.viewingmalta.com/index.php?/page/2 viewingmalta.com]] | Mario Galea | Malta Tourism Authority</span>If you already have a yacht and two airplanes, guess what the latest status symbol is? Russian oligarchs already know the punchline – a Maltese passport – but it’s no laughing matter (and it’s certainly not cheap either). Read more… | Send to a friend Source
October 12, 2018 in Investments -
Q3 2018 a quarter of contradictions
Considering the announcement of a technical recession and ever-rising fuel costs pinching consumers even further, there can be no doubt that the last quarter has been a tumultuous one. It is unsurprising, then, that the property market would yield some interesting contradictions during this period. The third quarter of 2018 has produced some interesting trends
October 12, 2018 in Property & Real Estate -
Eliminating human-error in industrial manufacturing and retail
In the South African industrial manufacturing and retail industries, businesses are faced with economic pressure and constantly increasing demand. This requires constant innovation and the application of best practice, especially in the effective management of warehouses, finance, planning, production and supply chain processes. While these processes are often managed by dedicated staff, the propensity for
October 12, 2018 in Manufacturing -
What the ratings agencies will look for in the medium-term budget
New Finance Minister Tito Mboweni will be affirming government’s commitment to fiscal consolidation and strategic investment in the face of low economic growth when he presents his first Medium Term Budget Policy Statement (MTBPS) in just two weeks’ time. Maura Feddersen, economist at PwC Keeping close watch of potential changes to the creditworthiness of South
October 12, 2018 in Investments -
Redefine appoints Amanda Dambuza to its board
Redefine Properties has appointed IT professional Amanda Dambuza to its board with effect from 2 November 2018. Dambuza, a highly accomplished technology executive and a seasoned entrepreneur, served as Barclay Africa’s CIO before venturing to start Uyandiswa, a consulting firm where she is the CEO. She has more than 18 years of experience in technology
October 12, 2018 in Property & Real Estate -
New fund invests R2bn into Joburg inner-city redevelopment
Divercity Urban Property Fund has committed R2bn to the redevelopment of Johannesburg’s inner-city precincts, starting with the iconic Absa Towers Main building and Jewel City. L-R: Wouter de Vos, CEO, Atterbury Property Fund; Rian Reyneke, CEO, Ithemba; Tebogo Mogashoa, group chairman, Talis Property Fund; and Carel Kleynhans , executive director, Ithemba The investment fund aims
October 11, 2018 in Property & Real Estate -
South Africa’s economy is in a mess. New finance minister must hit the road running
Phando Jikelo/African News Agency(ANA) Nene resigned as finance minister after it emerged that he lied about the nature of his contact with the controversial Gupta family, the friends of former President Jacob Zuma who stand accused of championing massive misappropriation of public funds in a process branded as state capture. In an initial response to
October 11, 2018 in Investments -
SAIBPP, UCT launch new property entrepreneurship programme
The South African Institute of Black Property Practitioners (SAIBPP), in partnership with the University of Cape Town (UCT), has launched a new property entrepreneurship programme aimed at first-time property entrepreneurs and aspiring property investors. The programme will be led by South African property economist and professor in property economics François Viruly who will serve as
October 11, 2018 in Property & Real Estate -
South Africa’s stimulus package shows power is finely balanced in the ANC
GCIS Ramaphosa insists that it is a ‘bold’ attempt to initiate economic change which will particularly benefit youth, women and small businesses. It rests partly, he adds, on ‘”significant regulatory reform”. But the package is more interesting for what it says about the politics of economic decision-making in South Africa’s governing African National Congress (ANC)
October 11, 2018 in Investments -
Ventureburn 2018 Startup Survey is here!
Following the success of both its 2015 and 2017 tech startup surveys, Ventureburn will again uncover the nuts and bolts of the SA tech startup sector, seeking to discover among other things: What are the major challenges facing the country’s entrepreneurs? What do South Africa’s startup founders look like? What sectors are startups more prevalent
October 11, 2018 in Venture Capital -
Ventureburn 2018 Startup Survey is here!
Following the success of both its 2015 and 2017 tech startup surveys, Ventureburn will again uncover the nuts and bolts of the SA tech startup sector, seeking to discover among other things: What are the major challenges facing the country’s entrepreneurs? What do South Africa’s startup founders look like? What sectors are startups more prevalent
October 11, 2018 in Venture Capital -
Sindi Zilwa joins Redefine as independent non-executive director
Business and accounting expert Sindi Zilwa will join the Redefine Properties board with effect from 2 November 2018, as an independent non-executive director. Zilwa, who is a CA(SA), holds an Advanced Taxation Certificate, an Advanced Diploma in Financial Planning and an Advanced Diploma in Banking and is well regarded in the areas of accounting, auditing
October 10, 2018 in Property & Real Estate -
TUHF’s Paul Jackson joins Divercity Urban Property Fund board
Paul Jackson has been appointed as a member of the Divercity Urban Property Fund board of directors, effective 4 October 2018. The decision to invite Jackson was unanimously supported by the Divercity board in September 2018, and his appointment has been formalised subsequent to approval by the TUHF Limited Board. Paul Jackson, CEO of TUHF,
October 10, 2018 in Property & Real Estate -
Emira acquires stake in Transcend
Emira Property Fund has acquired a minority stake in JSE AltX-listed Transcend Residential Property Fund, expanding Emira’s investment in residential rental property. Geoff Jennett, CEO, Emira Property Fund Transcend has announced its intent to issue new equity to fund the R1.27bn acquisition of eight properties, which will effectively double its portfolio value to R2.5bn, taking
October 10, 2018 in Property & Real Estate -
Property Buyer Show returns to Joburg
First-time home buyers and property investors can get a comprehensive understanding of the property-buying process at The Property Buyer Show. South Africa’s premier property exhibition is making its way to Johannesburg once again on 12–14 October at the Sandton Convention Centre. The Property Buyer Show is South Africa’s premier property expo, offering first-time home buyers
October 9, 2018 in Property & Real Estate -
How to make selling your property less stressful
While property remains a good investment, there are various reasons why someone would need to sell their property. Selling can be stressful, but having access to finance before the transfer of a property has been finalised can make the transaction a lot easier. People sell homes for a variety of reasons. Owing to the massive
October 4, 2018 in Property & Real Estate -
‘Getting to Canada’ … South Africa’s mining exploration challenge
Political scientist, Francis Fukuyama, in a general formulation, writes about how countries should aspire to the level of institutional and social achievement of Denmark. ‘Getting to Denmark’ is how he summarises the development challenge. In mining, the parallel challenge should be called ‘getting to Canada’, a reference to the world’s best mining jurisdiction in 2017.
October 4, 2018 in Venture Capital -
‘Getting to Canada’ … South Africa’s mining exploration challenge
Political scientist, Francis Fukuyama, in a general formulation, writes about how countries should aspire to the level of institutional and social achievement of Denmark. ‘Getting to Denmark’ is how he summarises the development challenge. In mining, the parallel challenge should be called ‘getting to Canada’, a reference to the world’s best mining jurisdiction in 2017.
October 4, 2018 in Venture Capital -
Futuregrowth invests in SA’s first ECD social impact bond
Futuregrowth Asset Management, acting on behalf of client funds, recently concluded an investment in the Impact Bond Innovation Fund (IBIF). The fund is a South African outcome-based financing mechanism that seeks to improve early childhood learning and development (ECD) outcomes in the Western Cape. The capital has been invested through the Futuregrowth Infrastructure and Development
October 3, 2018 in Investments -
Hotel investment strategies evolving in Sub-Saharan Africa
Xander Nijnens, executive VP, Hotels & Hospitality Group, JLL Sub-Saharan Africa, recently presented insights from JLL report An Evolving Landscape – Spotlight on Africa 2018 – JLL Hotels and Hospitality at the 2018 Africa Hotel Investment Forum in Nairobi. High supply growth during the past five years has placed pressure on hotel performance in Sub-Saharan
October 3, 2018 in Property & Real Estate -
SA REIT sector updating best practice guide for financial reporting
The SA REIT (real estate investment trust) sector is updating its best practice recommendations for clearer, more comparable financial reporting of South African REITs. Izak Petersen, chairman of the SA REIT Association To ensure a listed property structure that is uniform and well understood both locally and internationally, the South African Real Estate Investment Trust
October 2, 2018 in Property & Real Estate -
How we can turn plastic waste into green energy
Plastics are among the most valuable waste materials – although with the way people discard them, you probably wouldn’t know it. It’s possible to convert all plastics directly into useful forms of energy and chemicals for industry, using a process called “cold plasma pyrolysis”. Pyrolysis is a method of heating, which decomposes organic materials at
October 2, 2018 in Energy -
economic trends to focus on
At this year’s All Access Summit, Arthur Kamp, economist at Sanlam Investments, cut through the noise, focusing on a handful of economic trends long-term investors need to watch. Arthur Kamp, economist at Sanlam Investments “Essentially, when there is uncertainty in the market around the outcomes of economic policy it can cause a lot of volatility
October 2, 2018 in Investments -
Western Cape rental market remains a good investment
Despite the uncertain political climate and less-than-ideal economic outlook, the national buy-to-let market has remained fairly stable over the last few years. Since 2010, 8.5% of all property purchases have been for buy-to-let purposes, regardless of the recent disappointing national average rental growth rate, which more than halved since Q1 2017. One of the biggest
October 2, 2018 in Property & Real Estate -
Goldman Sachs tops GlobalData’s ranking of global M&A financial advisers in consumer industries for Q2 2018
The American investment bank held an edge over other advisers, both in terms of value and volume, with $37.3bn and 19 deals respectively, for the quarter. In terms of value, Morgan Stanley closely followed with nine deals worth $35.6bn. According to GlobalData, which uses its tracking of all merger and acquisition, private equity/venture capital and
October 1, 2018 in Investments -
Enormous amounts of food are wasted during manufacturing
©Konstantin Pelikh via 123RF Edible food makes up approximately 1.3 gigatonnes of this (one gigatonne is a billion tonnes). For comparison, one tonne of wasted food is about the equivalent of 127 large plastic bin bags. This not only represents a phenomenal loss in terms of food that could feed people, but also a loss
October 1, 2018 in Manufacturing -
Here are the 2018 Ai Institutional Investment, Capital Market Awards winners
International investment group Africa investor (Ai) recently announced the 2018 winners in the Ai Institutional Investment and Capital Market Awards, held during the 12th Ai CEO Institutional Investment Summit in New York. Commenting on the awards winners, Hubert Danso, CEO and vice chairman of Ai, said, “Africa investor is proud to use its global platform
October 1, 2018 in Investments -
Roadmap for Angola: 2019 and Beyond
ARNHEM, Netherlands: Angola can in the short term anticipate strong economic headwinds. Fitch Solutions forecasted Angola’s GDP real growth at 1.5% down from 2.8%. Fitch anticipates a growth of 2.3% for 2019 and 2.6% in 2020 (Up from an anticipated 2.2%). According to Lusa Portuguese news agency, economic recovery will be weaker than previously anticipated
September 28, 2018 in Investments -
Roadmap for Angola: 2019 and Beyond
ARNHEM, Netherlands: Angola can in the short term anticipate strong economic headwinds. Fitch Solutions forecasted Angola’s GDP real growth at 1.5% down from 2.8%. Fitch anticipates a growth of 2.3% for 2019 and 2.6% in 2020 (Up from an anticipated 2.2%). According to Lusa Portuguese news agency, economic recovery will be weaker than previously anticipated
September 28, 2018 in Energy -
AfDB releases inaugural Africa-to-Africa (A2A) Investment Report: A First Look
The report finds that more African companies are investing in Africa. These companies have confidence in the continent’s long-term growth potential; they are at the cutting edge of their industries, and are capitalising on their knowledge of local markets to generate higher returns and impact. In line with the bank’s High 5s for transforming Africa
September 28, 2018 in Investments -
2018 Q2 data shows new mortgage lending growth fading
Second quarter 2018 SARB New Mortgage Lending data, released in the latest SARB Quarterly Bulletin, showed slower year-on-year growth in the value of new mortgage loans granted compared to the previous quarter. New commercial mortgage loans granted slowed significantly, which appears in line with economic fundamentals, while the residential component was still attempting to “defy
September 28, 2018 in Property & Real Estate -
Good growth observed in office to residential conversions in certain regions
Office space to residential conversions are gaining in popularity, particularly in CBD areas where there is a dearth of mid-market residential property for young professionals looking to live closer to work. According to Joel Rosen, MD at Prime Residential, who has himself been involved in a number of these conversions, there has been a strong
September 27, 2018 in Property & Real Estate -
There are big opportunities in manufacturing
If you can find the right approach, there are big opportunities in manufacturing, even in South Africa. To realise them, though, manufacturers will have to up their game. Gavin Young, CEO, Bridgestone South Africa On the face of it, the prospects for manufacturing in South Africa continue to look bleak. Absa’s Purchasing Managers Index, which
September 26, 2018 in Manufacturing -
How the recession could affect the property market
Statistics South Africa recently announced that the economy is in a technical recession. But what does it mean for the ordinary man in the street and for the property market? What is a technical recession? A technical recession occurs when a country undergoes two (or more) quarters of negative growth. In February this year, Treasury
September 26, 2018 in Property & Real Estate -
Growing need for agile super vendors in Africa’s apparel industry
African clothing manufacturers have to become super vendors to reduce lead times and cost better to handle more styles, cater to in-season change and improve the top line and bottom line of their businesses. This is the assertion of Anas Shakil, head of emerging geographies and senior partner at garment tech company ThreadSol. ©Robert Przybysz
September 26, 2018 in Manufacturing -
Four pitfalls to avoid when investing
When we think of diversification in investing, we usually think of investing across countries and currencies. But there’s more to it than that. A good geographic spread is, of course, a sensible starting point and likely to lower investment risk – but true diversification requires a deeper look. Here are a few common pitfalls to
September 26, 2018 in Investments -
Global real estate transparency index highlights need for further improvements in SSA
JLL and LaSalle’s biennial Global Real Estate Transparency Index has noted that increased regulatory requirements and greater data availability have driven incremental improvements over the last 20 years that the report has been published. The second edition of the regional report reveals a Sub-Saharan African real estate industry that is gradually making progress. However, transparency
September 25, 2018 in Property & Real Estate -
A South African’s guide to moving to and making it in Malta: A cottage for sale
Nearly a year ago, a study was published which listed Malta as the second most attractive location in the EU for buy-to-let yields. This month, my Maltese falcon namesakes come home to roost as a new report shows that Malta has edged out Hong Kong as the territory or country with the highest residential price
September 21, 2018 in Property & Real Estate -
Blockchain as a solution to Africa’s challenges
Africa is rising and technology is at the forefront of growth on the continent. “We have seen the explosion of the mobile space in the continent and how it has allowed a number of services and solutions to become easier. Blockchain is about to help solve a number of issues we are currently facing in
September 21, 2018 in Investments -
Blockchain as a solution to Africa’s challenges
Africa is rising and technology is at the forefront of growth on the continent. “We have seen the explosion of the mobile space in the continent and how it has allowed a number of services and solutions to become easier. Blockchain is about to help solve a number of issues we are currently facing in
September 21, 2018 in Investments -
Repo rate unchanged
Consumers will breathe a sigh of relief after the South African Reserve Bank’s (SARB) Monetary Policy Committee (MPC) decided to keep the repo rate unchanged at 6.5%. Despite a stagnant economy, coupled with several external and internal factors, SARB Governor Lesetja Kganyago said, the seven member MPC had decided against increasing the repo rate. Four
September 20, 2018 in Investments -
Mineral Resources focuses on gas and oil
The Department of Mineral Resources, which has withdrawn the Mineral and Petroleum Resources Development Amendment (MPRDA) Bill, is to bring its focus on gas and oil to cabinet, Communications Minister Nomvula Mokonyane said on Thursday. ©keng po leung via 123RF The Department of Mineral Resources has opted to withdraw the MPRDA and primarily focus on
September 20, 2018 in Energy -
H&M Foundation drives circular fashion through textile recycling facilities
As part of H&M’s mission to become “truly circular” by 2030, its charitable arm, the H&M Foundation, has opened two hydrothermal textile recycling plants in partnership with The Hong Kong Research Institute of Textiles and Apparel (HKRITA). The pre-industrial sized recycling facilities, located in Hong Kong, are considered the first of their kind because they
September 20, 2018 in Manufacturing -
Entice global investment in Africa through domestic development
To deploy global investment on a significant scale, Africa needs to develop the domestic conditions to absorb the much higher levels of global real estate investment currently considering Africa. Adeniyi Adeleye Typically, African real estate accounts for around 0.5% of large global funds’ commitment. That said, most of the global real estate funds that have
September 20, 2018 in Investments -
why lithium ion batteries could be a game changer in Africa
Renewable energy resources – such as wind, water or solar solutions – hold great promise. They could provide energy while overcoming Africa’s infrastructural challenges. But this energy would still need to be stored. Lithium ion batteries might provide a solution. The Conversation Africa asked Bernard Jan Bladergroen about the challenges and opportunities. Lithium batteries offer
September 20, 2018 in Energy -
Multiple choices for MultiChoice after Naspers’ unbundling or way of the dinosaur?
#Newswatch: It’s not necessarily a death knell. There’s speculation on potential positive outcomes following Naspers’s announcement that it will unbundle MultiChoice to shareholders early next year and separately list the company on the JSE. In an initial report on Business Day, It was said that investors cheered Naspers’ decision to unbundle video entertainment business MultiChoice
September 19, 2018 in Investments -
Willow Wood Office in Gauteng final phase of construction underway
The Heartwood Properties development, Willow Wood Office Park in Fourways, Gauteng is currently in its fourth and final phase of construction and due for completion by March 2019. Customer engagement solutions’ company, Genesys will take up half of the new block, and other firms to occupy space include Regus PLC, a London based serviced office
September 19, 2018 in Property & Real Estate -
Could we buy property with bitcoins?
Although cryptocurrency has been around for quite some time now, it is still a relatively new concept in South Africa and, to a degree, quite foreign for some. The idea of no physical money and no set currency is quite daunting. There are quite a few options as an investment, but bitcoin is perhaps the
September 18, 2018 in Investments -
Drop in SA consumer confidence squeezes spending
South Africans are under financial pressure, as indicated by the latest consumer confidence data. The recently released results of The Conference Board Global Consumer Confidence Survey, conducted in collaboration with Nielsen, reflects a 5-point decrease in South African consumer confidence to 90 in Q2, 2018. Nielsen sub-Saharan Africa MD Bryan Sun comments; “Consumer confidence in
September 18, 2018 in Investments -
Time for Ramaphosa to knuckle down and fix the economy
The gloss of Ramaphoria, when the rand R11.55 to the US dollar in late February, has worn off, and disappointing economic growth figures and a sharply weaker currency reveal deep-seated structural economic challenges that remain. Yolanda Naudé, Citadel head of fund research and portfolio manager Investors assessing the country’s progress over the coming months must
September 17, 2018 in Investments -
Top 10 nominees for Innovation Prize for Africa 2018 announced
“Now in its seventh year running, we have witnessed multi-million-dollar businesses emerging from the IPA initiative, with health, environment/energy and agricultural innovations leaving imprints across the African continent and beyond. Our theme this year prompts the need for increased collaboration between government, business, industry, innovation enablers and the community to further realise African prosperity and
September 14, 2018 in Energy -
Intra-African trade remains a priority
Intra-African trade remains as a priority for the South African government, Director General of the Department of Trade and Industry (dti), Lionel October, said. Lionel October, director general of the dti “The priority for this government in the medium-term is to promote intra-African trade and broaden integration across existing regional communities within a development integration
September 14, 2018 in Investments -
Argentina, Turkey, Indonesia – why it’s too early to speak of contagion in emerging markets
SC Image / Shutterstock.com Emerging markets across the board have been under pressure since the US Federal Reserve raised interest rates in June. Governments and companies had borrowed in dollars when interest rates were low and the dollar was weak. Now the dollar is strong and interest rates are rising. And research by economists Michael
September 14, 2018 in Investments -
Ignore ‘recession’ talk and buy more real estate
SA may be in a “technical” recession, but a closer analysis of the figures released by StatsSA shows that the economy is actually heading in the right direction – and that the construction and real estate sectors are among those performing best. Property buyers and investors should be ignoring the current negative sentiment about SA’s
September 13, 2018 in Property & Real Estate -
Foreign buyers remain keen on SA property
With Spring in the air, foreign tourists – and property investors – will soon be making their way to South Africa as the Northern Hemisphere winter starts to set in. “This migration may be difficult for us to understand, given our local considerations about the economy, corruption and crime,” says Gerhard Kotzé, MD of the
September 13, 2018 in Property & Real Estate -
Chinese loan to Eskom granted without conditions
President Cyril Ramaphosa says the recent Chinese loan that was given to state-owned entity, Eskom comes with no conditions. Responding to oral questions at the National Council of Provinces (NCOP), the president also said that it is not unusual for state owned entities to raise funding in the market for capital investment or operating costs.
September 12, 2018 in Investments -
4,000th FAW rolls off Coega production line
FAW South Africa’s Coega assembly plant recently celebrated another production milestone: assembly of the 4 000th FAW in South Africa. With a presence in South Africa dating 24 years, FAW’s assembly plant has become the bedrock for further investments in the Eastern Cape. Inaugurated in July 2014, the plant was the first large-scale investment made
September 12, 2018 in Manufacturing -
Amid the chaos, Vuca is the new normal in SA
Vuca – the acronym for volatility, uncertainty, complexity and ambiguity – is the new normal within the South African political context, said policy specialist, Theo Venter. Policy specialist, Theo Venter In other words, volatility is evident in the current weakness of the rand, there’s uncertainty on government policy, complexity is found in the multi-layered cultural,
September 12, 2018 in Investments -
JLL releases Q2 2018 local property market activity overview
JLL has released its South African Q2 2018 reports on activity in the commercial and industrial sectors in Johannesburg and Durban, the office market in Cape Town as well as an outline of the South African retail market. The notable decline in GDP during Q2 2018 forewarns of a challenging economic climate in the remainder
September 11, 2018 in Property & Real Estate -
Renewables will fuel the 4th Industrial Revolution
“The two great disruptions happening in the world economy are the rise of China and renewable energy (RE). This is going to change the way we will think about life,” Michael Power, strategist at Investec Asset Management, told the Momentum Consult annual conference. Michael Power, strategist: Investec Asset Management. Photo: Funds Society Just as steam
September 10, 2018 in Investments -
Recession? What recession? Now let’s talk land reform
Dr Roelof Botha According to the report, a quarter-on-quarter review shows that the country’s economy shrunk by 0.7% in the second quarter, following a 2.6% contraction in the first quarter of 2018. Botha said the quarter-on-quarter methodology used by Stats SA is faulty because you can’t compare October, November and December (when consumer spending is
September 10, 2018 in Property & Real Estate -
What the recession means for the property market
Following the recent announcement of a 0.7% drop in GDP in the second quarter of 2018, South Africa has fallen into another technical recession. By definition, a recession occurs when a country shows two consecutive quarters of economic decline. After the 2.2% drop of the first quarter of 2018, many economists predicted that minimal growth
September 10, 2018 in Property & Real Estate -
Generation jobless and the high inequality economy
Professor Haroon Bhorat, director of the UCT Development Policy Research Unit, senior fellow at the Brookings Institute, as well as presidential and ministerial advisor and consultant to the World Bank, UN and ratings agencies, shared the harsh economic realities of growing up in South Africa today, at the launch of the UCT Unilever Institute of
September 7, 2018 in Investments -
SA payments startup Yoco raises $16m in funding
South African-based Point of Sale payments provider, Yoco, has raised $16million in a Series B funding round led by Partech, a venture capital firm based in Silicon Valley, Europe and Africa, with participation from Orange Digital Ventures, FMO (The Dutch Development Bank) and existing Series A investors Quona Capital and Velocity Capital. Yoco founding_L-R: Bradley
September 7, 2018 in Venture Capital -
SA payments startup Yoco raises $16m in funding
South African-based Point of Sale payments provider, Yoco, has raised $16million in a Series B funding round led by Partech, a venture capital firm based in Silicon Valley, Europe and Africa, with participation from Orange Digital Ventures, FMO (The Dutch Development Bank) and existing Series A investors Quona Capital and Velocity Capital. Yoco founding_L-R: Bradley
September 7, 2018 in Venture Capital -
Knight Frank launches mid-year Wealth Report
Knight Frank has this month launched a mid-year update to its Wealth Report, providing an up-to-date view on the movement of luxury residential property prices in 20 of the world’s key cities, analysis of the population of global demi-billionaires as well as the latest results from Knight Frank’s Luxury Investment Index. For the first time
September 6, 2018 in Property & Real Estate -
How solar kits and battery lamps are replacing kerosene across Africa
Our study covering seven countries across sub-Saharan Africa shows how privately supplied dry-cell battery driven lamps as well as solar kits have facilitated a lighting transition. Cheap supplies of disposable batteries and lamps mostly from China, have found their way into the most remote villages in the region. A quote from a Senegalese expert we
September 6, 2018 in Energy -
Coronation drops minimum investment amount to R1
And encourages young South Africans to save by offering a 10% top-up in September To celebrate its 25th birthday, Coronation has dropped its minimum investment amount from R5000 to R1, and is contributing a 10% top-up on investments made via its becauseitsyourmoney investment channel during the month of September. Commenting on the rationale behind this
September 5, 2018 in Investments -
Keith Bothongo recognised with SAIBPP lifetime achievement award
During its annual awards ceremony early last month, the South African Institute of Black Property Professionals (SAIBPP) honoured Keith Bothongo with a lifetime achievement award. Keith Bothongo, founder and chairman of the Bothongo Group “Mr Bothongo’s nomination and ultimate selection was as a result of a public online nomination process that was conducted prior to
September 5, 2018 in Property & Real Estate -
Pratley replicates its famous suspended bulldozer stunt
Celebrating its 70th anniversary, the Pratley Group earlier this year marked the occasion by replicating its memorable launch of Pratley Wondafix in 1985 which saw CEO Kim Pratley stand underneath a 13-tonne bulldozer, hoisted and held aloft by a crane, attached to two plates joined by the adhesive. The company replicated the death-defying stunt at
September 5, 2018 in Manufacturing -
It’s too soon to call 3D printing a green technology
Prototype vehicle built with 3D printing – but is it green? Tim Gutowski, CC BY-ND 3D printing has two key attributes that lead enthusiasts to call it a “green” technology. First, many 3D printing systems generate very little waste, unlike conventional manufacturing techniques such as injection molding, casting, stamping and cutting. Second, 3D printers in
September 5, 2018 in Manufacturing -
SA likely to exit technical recession in 3rd quarter
South Africa is likely to exit its technical recession in the third quarter, the Bureau of Economic Research (BER) saiid. “In terms of our forecast, I think that we will exit the recession in the third quarter,“ said senior economist at the BER, Hugo Pienaar. Gross domestic product (GDP) figures for the second quarter of
September 5, 2018 in Investments -
Mining sector sees growth in second quarter
The mining sector grew by 4.9% and contributed 0.4 of a percentage point to gross domestic product (GDP) growth, led by growth in platinum group metals (PGMs), copper and nickel, amongst others, the Department of Mineral Resources said. “The mining and quarrying sector contributed positively to GDP in the second quarter, data released by Statistics
September 5, 2018 in Investments -
The flexible workspace revolution and what it means for landlords
The growing trend of flexible working, and with-it flexible workspace, has gained a lot of recent coverage globally. In 2017, JLL released a report saying 30% of corporate real estate would comprise flexible workspace by 2030. That’s three in every ten buildings. In the same year, CBRE released its own report about flexible workspace, stating
September 4, 2018 in Property & Real Estate -
Land reform panic unnecessary, Seeff welcomes clarity and support
There is no doubt that there is great concern about land reform amongst ordinary South Africans and especially property owners and buyers. At the same time, there is a huge amount of noise in the media and public discourse around this, often sending mixed messages. In light of this, the Seeff Property Group has welcomed
September 4, 2018 in Property & Real Estate -
The 10 most expensive suburbs to rent property in South Africa
Here are the most expensive rental suburbs and what the average property looks like in each of them. Although the luxury rental market is slowing, many wealthy tenants are still prepared to pay a premium for rentals in elite areas. Here are the most expensive rental suburbs and what the average property looks like in
September 3, 2018 in Property & Real Estate -
China, Africa aspire to reach new milestones
The quest for industrialisation, skills development, FDI in manufacturing, beneficiation, agro-processing and skills transfer programmes will provide ample opportunity for advancing the interests of the two regions in a mutually beneficial manner, says Department of International Relations and Cooperation Minister, Lindiwe Sisulu. Dirco Minister, Lindiwe Sisulu Speaking at the opening session of the 7th Ministerial
September 3, 2018 in Investments -
How silicone took over our kitchens
You’ve probably seen ice cube trays like this in all types of shapes, from airplanes to superhero logos. While these trays have become commonplace, they symbolise how the material used to make them – silicone – has transformed our kitchens over the past two decades. Silicone was originally invented as an insulating material for high
August 31, 2018 in Manufacturing -
Investing in Africa is sound business and a sustainable corporate strategy
The best time to invest in Africa is now. However, foreign investors have not moved into the continent as quickly as expected because foreign investment decisions are often methodically overstructured. One of the major factors cited is too much risk. But risks and profits are inseparable twins: high-risk ventures are frequently associated with higher profits.
August 31, 2018 in Investments -
KZN Manufacturing Indaba explores opportunities for growth and innovation
Provincial manufacturers and businesses assembled in Durban at the Kwazulu Natal Manufacturing Indaba to explore growth opportunities, discover the latest manufacturing incentives and trends, and seek out opportunities for networking and collaboration. The annual conference, held at the Durban International Convention Centre (ICC) on 22 August, was specifically designed for industry experts to impart their
August 31, 2018 in Manufacturing -
Key questions the Zondo inquiry needs to pose about the nuclear deal
Deputy Chief Justice Ray Zondo looks into state capture in South Africa’s energy sector. EPA-EFE A commission of inquiry to investigate state capture was initiated in January, headed by the Constitutional Court’s Deputy Chief Justice Raymond Zondo. The first week of hearings ended with shocking testimony by former deputy finance minister Mcebisi Jonas. He reiterated
August 31, 2018 in Investments -
cynical post-Brexit development agenda smacks of desperation
British ministers in 1948 discussed development investment needs for African colonial territories. The focus was not on the needs of those countries, but on how colonial development might best support the British economy. There was also a political calculation to be considered. Following the rebalancing of global power after 1945, ministers felt that only by
August 30, 2018 in Investments -
Africa has phenomenal potential for intra-continental trade
Forty-nine of Africa’s 55 countries have signed the framework for the African Continental Free Trade Agreement (AfCFTA) to create a single continental market for goods and services, with free and unfettered movement of businesspeople and investments. When at least 22 countries ratify it, the AfCFTA will officially come into force, potentially making the continent the
August 30, 2018 in Investments -
Why you are not investing in property (and should!)
When we conducted a poll last year, 66.6% of South Africans surveyed said that it’s always better to own your own home – and a quarter stated that they weren’t able to move from renting to owning, much less consider investing in a portfolio of properties. There are a number of reasons why individuals think
August 30, 2018 in Property & Real Estate -
Three ways making a smartphone can harm the environment
Mining these metals is a vital activity that underpins the modern global economy. But the environmental cost can be enormous and is probably far greater than you realise. Let’s walk through some of the key metals in smartphones, what they do, and the environmental cost of getting them out of the ground. Catastrophic mine waste
August 29, 2018 in Manufacturing -
The story of Earl Tupper’s fantastic plastics
When American Horror Story, the Museum of Modern Art and Napoleon Dynamite pay homage to an invention, you know it’s made a cultural impact in a big way. A postcard from the 1950s advertises a variety Tupperware products. Credit: Thomas Hawk, CC BY-NC Tupperware has a staying power that most plastic products don’t. So far,
August 28, 2018 in Manufacturing -
Studies show increased demand by millennials for cryptocurrency options
According to a recent study conducted by blockchain technology investment firm, Sustany Capital, 88% of millennials want to diversify their investment options with cryptocurrencies. In addition the study states that more than 75% of respondents regard purchasing cryptocurrency as a financial investment. In less than a year the concept and practice of cryptocurrency will be
August 28, 2018 in Investments -
Impact of fuel cost on housing demand, house price
Escalating fuel costs, coupled with rising traffic congestion, is playing an increasing role in where consumers will buy or rent a home in SA. Ultimately, this also impacts on housing demand and price. “The ongoing increase in the fuel price is contributing to the way we live and work,” says Dr Andrew Golding, chief executive
August 28, 2018 in Property & Real Estate -
Exports councils vital to stimulate economic transformation
Export councils are key drivers for South Africa’s economic transformation and they should be supported and prioritised. This is according to Lerato Mataboge, deputy director-general for trade and investment South Africa at the Department of Trade and Industry (the dti), who was addressing the two-day Export Council Quarterly Meeting that started in Pretoria this week.
August 24, 2018 in Investments -
Government addressing economic constraints
Government says it will continue to implement reforms to increase the growth potential of the economy and improve the credibility of South Africa’s policy decisions. In addition to this, government will maintain South Africa’s strengths, such as an independent central bank, an inflation-targeting regime with inflation consistently within the target range, low levels of foreign-currency
August 24, 2018 in Investments -
MetPac-SA CEO gains first Certified Packaging Professional status in SA
CEO of MetPac-SA, Kishan Singh, has become the first packaging expert in South Africa to be awarded the designation ‘Certified Packaging Professional’ (CPP) by the international Institute of Packaging Professionals. Singh is also a global ambassador of the World Packaging Organisation (WPO) and national education officer of the Institute of Packaging SA (IPSA). Kishan Singh
August 24, 2018 in Manufacturing -
Namibia launches two solar energy plants
Namibia has added an estimated 25.8GWh per annum to its grid with the opening of two solar power plants in Gobabis, the regional capital of the Omaheke region. Built at cost of $21m, Ejuva One and Ejuva Two are located side by side and were constructed and managed as one project. It is among the
August 24, 2018 in Energy -
Angolan investment honeymoon looks to be over
When Angolan President, João Lourenço, took power a year ago, there was a wave of market optimism and fresh investor interest. But the ‘honeymoon’ seems to be over as investors are becoming concerned with entrenched state corruption and the persistently weak state of the economy. President João Lourenço. Photo: Angop According to a report by
August 23, 2018 in Investments -
Angolan investment honeymoon looks to be over
When Angolan President, João Lourenço, took power a year ago, there was a wave of market optimism and fresh investor interest. But the ‘honeymoon’ seems to be over as investors are becoming concerned with entrenched state corruption and the persistently weak state of the economy. President João Lourenço. Photo: Angop According to a report by
August 23, 2018 in Investments -
Smaller grids may be better to power Africa
Karel Cornelissen, CEO, Energy Partners By now it should be clear that various projects over the last 40 years to bring big scale electrification to the continent have largely failed. It is hardly surprising given the challenges that infrastructure faces in Africa. Investment in large-scale generation projects is still far from ideal and the distances
August 23, 2018 in Investments -
Measures to strengthen state-owned enterprises
Finance Minister Nhlanhla Nene has announced a set of measures aimed at strengthening state-owned enterprises (SOEs). Finance Minister, Nlhanhla Nene Addressing the National Council of Provinces (NCOP), the minister said given the dire situation in which some of these SOEs are in, capable and morally upright men and women are needed to stabilise them. Drawing
August 22, 2018 in Investments -
SA business to be showcased at Mozambique’s annual FACIM trade show
The Department of Trade and Industry (the dti) will be hosting a South African Pavilion that will showcase goods and services from 23 local companies at the 54th annual Feira International de Maputo (FACIM) trade show. FACIM, which ranks as the biggest trade show in Mozambique, will be held in Maputo from 26 August to
August 22, 2018 in Manufacturing -
Gauteng primed for rental property growth recovery
“We’ve analysed data from our earliest indices in 2012 and it’s clear that the cycles last anything from six to 11 quarters. In Gauteng, the cycles have been seven quarters and six quarters in duration, respectively, indicating that there might be some good news for Gauteng soon.” In contrast, Smuts says that the Western Cape
August 22, 2018 in Property & Real Estate -
The insidious cost of corruption
On the surface, the cost of direct corruption can be calculated, but the true or knock-on effect is both greater than the financial implications and is difficult to calculate. Yet, the manner in which such costs are incurred can be logically demonstrated. Mike Brown, chief executive: Nedbank Group Investment – both foreign and local –
August 21, 2018 in Investments -
Creative ways to secure a property investment
Investing in property is invaluable, offering long-term rewards and is still regarded as one of the safest permanent investments. Most people would like to diversify their property portfolio but think they won’t be able to afford it or that they will not have the money for a deposit. “Purchasing investment properties can be capital intensive,
August 21, 2018 in Property & Real Estate -
The good, the bad and the letter of the law
For first-time buyers, property co-ownership may be the easiest and most affordable way to enter the property market. For others too, it can be an accessible way to extend an existing property portfolio. As with any business transaction, it is important to carefully consider the advantages and potential drawbacks of the arrangement, as well as
August 21, 2018 in Property & Real Estate -
How SMEs should pitch for funding
The current economic state definitely plays a major role in the challenges that SMEs experience in securing funding when they need it. South Africa’s low economic growth over recent years has negatively impacted the future forecasts of most companies, and SMEs especially, find it more difficult to show proof that they can remain solvent for
August 20, 2018 in Venture Capital -
How SMEs should pitch for funding
The current economic state definitely plays a major role in the challenges that SMEs experience in securing funding when they need it. South Africa’s low economic growth over recent years has negatively impacted the future forecasts of most companies, and SMEs especially, find it more difficult to show proof that they can remain solvent for
August 20, 2018 in Venture Capital -
Magda Wierzycka talks passion and business
Magda Wierzycka, CEO: Sygnia “It is important to recognise that whatever you do in South Africa right now has political consequences,” she told the University of Cape Town’s Graduate School of Business’ Women in Business conference. “Zuma made corruption an institutional way of doing business – in both the public and private sector. It is
August 20, 2018 in Venture Capital -
How digitalisation is impacting the listed property sector
The worldwide structural trend of consumers increasingly choosing to shop online instead of at their local mall will have implications for the South African listed real estate sector and for investors who hold this sector in their investment portfolio. Online stores offer a convenient and safe shopping experience with better choice than is available at
August 17, 2018 in Property & Real Estate -
The dark side of green energy
Solar panels, electric vehicles and wind turbines are all essential for tackling climate change and ensuring sustainable development. However, there is a dark side to this technology. Poor management of the minerals needed for green energy – from the mine site to the end customer – could fuel fragility, conflict, and violence, a new report
August 15, 2018 in Energy -
Cryptocurrency, death and divorce. How it works
As cryptocurrency is a relatively new kid on the block, so to speak, the full legal ramifications of what happens to it in the event of a death or divorce are still being explored. Stephan Haynes of Gillan and Veldhuizen Although it has been around since 2009, the South African Revenue Services (Sars) only as
August 15, 2018 in Investments -
Opportunities for Nigerian oil and gas companies in agriculture
Since the beginning of 2016, when crude oil prices dropped to below $30 per barrel, there has been a significant deal of uncertainty in the oil and gas industry, especially whether crude oil prices may ever return to pre-2014 levels of greater than $100. Although the prices currently average $70 per barrel, the apprehension about
August 15, 2018 in Energy -
SA companies fail in C-suite gender equality
Women remain grossly under-represented at the executive level of corporate South Africa. In fact, only one of the country’s JSE Top 40 listed companies is led by a woman CEO, namely Maria Ramos of Absa Group. In addition, 31% of South African companies fail to have any female representation in senior leadership roles whilst female
August 14, 2018 in Investments -
Rand plummet “due to external factors”
The dramatic plummet of the rand to the US dollar is due to external factors and has nothing to do with the country’s domestic economic indicators, economists say. Professors Bonke Dumisa from the University of KwaZulu-Natal and Raymond Parsons from the North West University School of Business and Governance both agreed that external factors were
August 14, 2018 in Investments -
Property prices in Pretoria’s most in-demand suburbs
Private Property takes a look at the most in-demand suburbs in Pretoria and what you can expect to pay for property in them. Pretoria has been growing in popularity among buyers, particularly upcoming professionals and young families. The city offers employment opportunities, allows for relatively easy access to other areas and a wide selection of
August 13, 2018 in Property & Real Estate -
Heartwood Properties lists on new 4 Africa Exchange
A joint venture between Gauteng property developers Brydens Group and Montagu Property Group, Heartwood Properties is the first property company to list on the new 4 Africa Exchange (4AX). Heartwood focuses primarily on properties in the warehousing and commercial sectors. Most of the company’s tenants secure long leases and operate in the medium-to-large owner-managed sector.
August 13, 2018 in Property & Real Estate -
Jungheinrich virtual reality training wins Immersive Learning Award
Jungheinrich has won gold in the “Customer Project” category of the Immersive Learning Award 2018. The jury found that the use of virtual reality (VR) in the Jungheinrich Training Centre clearly demonstrates how new technologies can bring quick and effective success in a learning environment. The Hamburg-based intralogistics expert uses VR to provide initial and
August 10, 2018 in Manufacturing -
Inaugural SAVCA Industry Awards announces shortlist
The Southern African Venture Capital and Private Equity Association (SAVCA), in partnership with Investec, has released the shortlist of nominees for the inaugural SAVCA Industry Awards, which will take place on 8 November 2018. The SAVCA Industry Awards recognise portfolio companies that have thrived from private equity and venture capital investment in the region. The
August 10, 2018 in Venture Capital -
Removing barriers for female artisans
With unemployment rates at a whopping 27.1% in the second quarter of 2018, the current state of the economy and 51.7% of the South African population being female, it is important for women to be granted opportunities in what is traditionally viewed as male-dominated industries, such as trade and manufacturing. This is the view of
August 10, 2018 in Manufacturing -
Stainless steel sector growth should be integrated in global value chain
The Southern Africa Stainless Steel Development Association (Sassda) has said that it welcomes any and all beneficiation of South Africa’s raw materials, particularly chromite. This announcement was made following the recent news of investment into a $10bn metallurgical complex development in Limpopo’s Special Economic Zone (SEZ) by Chinese investors. However, it was quick to state
August 10, 2018 in Manufacturing -
Property ownership is a powerful way for women to attain financial independence
The empowering impact of owning your own property cannot be underestimated, says PropertyFox: “There are many good reasons to invest in a property on your own as a woman. Beyond the roof over your head, owning property allows you to avoid the cliché of ‘paying off someone else’s bond’ through rentals. And property represents a
August 10, 2018 in Property & Real Estate -
Cash or bond, what’s the wise property investment move?
There are certainly advantages to paying cash for your investment property, however there is an intriguing alternative. The advantages of an outright cash purchase are certainly appealing. You will not be paying interest on a loan and if you are disciplined, that money can be invested into a tax-free account, and you will own the
August 10, 2018 in Property & Real Estate -
The secrets behind Israel's rise as a 'Startup Nation'
TEL AVIV, Israel – For but a sliver of land in the Middle East, with a population below 9 million, you’d never guess that Israel has the second largest number of companies on the Nasdaq, after China. It’s also surprising to learn that it harbours the highest density of startups per capita in the world,
August 8, 2018 in Venture Capital -
Understanding the economic factors that affect property prices
Not all of us have a degree in economics. Understanding how external forces impact the price of property can be confusing. But if you are in the market, then you do need to grasp its ebbs and flows or face the risk of being dragged under with its undercurrents. When it comes to factors that
August 8, 2018 in Property & Real Estate -
Property sellers competing for limited pool of value-driven buyers
While 2018 promises to be a better year for our country, the initial spikes in consumer and business confidence have been short lived. The country has definitely moved from a glass-half-empty to more of a glass-half-full scenario, but in terms of the residential market and property prices, the level of liquid has remained the same.
August 8, 2018 in Property & Real Estate -
Mathe Group takes a ‘steel’ on tyre recycling
Mathe Group, a tyre recycler, is not only consuming more and more environmentally destructive used truck tyres, but has now developed two steel by-products that are being exported to Australia and Korea in growing quantities. Clean steel ready to be exported from the Mathe Group truck tyre recycling plant. Dr. Mehran Zarrebini, head of British
August 7, 2018 in Manufacturing -
Wage increases could sink Eskom
Above-inflation wage increases for Eskom workers are simply not sustainable in the long-term, especially if South Africa is to avoid further credit ratings downgrades. Maarten Ackerman, chief economist, Citadel Following weeks of negotiations with unions, Eskom has tabled wage increases of 7.5% in 2018 and 7% in 2019 and 2020. This is in addition to
August 7, 2018 in Investments -
‘New normal’ to hold greater opportunities for women in property
The South African Institute of Black Property Practitioners (SAIBPP) is hosting its annual convention this week, 7-8 August. The theme of this year’s event is ‘The New Normal’, addressing land reform in South Africa and transformation in the property sector, among other pertinent topics. Nkuli Bogopa, president, South African Institute of Black Property Practitioners (SAIBPP)
August 6, 2018 in Property & Real Estate -
IFC to invest in Capria network fund to address “missing middle”
The International Finance Corporation (IFC) will make a second investment of up to US$13m in Capria’s new “network fund” to invest in and provide support to more local fund managers in emerging markets. Disrupt Africa reported in September 2015 Capria launched as an accelerator for venture capital fund managers in developing markets, offering investment, support
August 6, 2018 in Investments -
private home ownership recognised for first time since the revolution
This economic restructuring builds on a prior modernisation programme – the 2011 Lineamientos reform package, which initially allowed for Cubans to buy homes – and aims to boost annual GDP growth and optimise foreign investment. Former US president Barack Obama’s 2014 efforts to normalise US-Cuba relations (although largely reversed by the Trump administration) contributed to
August 3, 2018 in Property & Real Estate -
Absa, MSCI launch investor guide for residential property market
Absa Commercial Property Finance and MSCI have partnered to launch Residential Results, an investor guide providing objective empirical data on returns achievable for direct investments in the residential property sector in South Africa. These results are derived from data that was sourced from a portfolio of properties owned by 12 contributors who contributed towards a
August 2, 2018 in Investments -
The ABC of buying a second property
Property is almost always an appealing investment and an accessible way for most South Africans to build wealth over time. Property is a transparent investment, as information about market trends and performance is easily accessible. As such, a second property is potentially a great way to earn passive income, but be sure to take these
August 2, 2018 in Property & Real Estate -
Mr D Food reaches milestone of 1 million downloads
Online food delivery service, Mr D Food, reached 1 million app downloads last week. With an increasing number of consumers ordering their food online for delivery, Mr D Food reports to having processed over R500 million in orders through its mobile app in the last 12 months. Mr D Food in numbers: – The Mr
August 2, 2018 in Investments -
Masisizane Fund’s Harvest Day emphasise benefits of agricultural investment
During her key message at the Masisizane Flagship Harvest Day in Matatiele – hosted by the Masisizane Fund and the South African Institute of Chartered Accountants (SAICA) – Masisizane Fund’s CEO, Zizipho Nyanga shared that in order to expand the positive impact of agricultural initiatives in the country, more investors need to be exposed to
August 1, 2018 in Investments -
SA remains committed to inclusive growth
While government concurs with the International Monetary Fund’s (IMF) view on the need to implement reforms as set out in the National Development Plan (NDP), it remains committed to achieving inclusive growth that will create jobs. “Government concurs with the IMF’s views on the urgency to advance the implementation of our reform agenda as set
July 31, 2018 in Investments -
How to buy to let successfully
Image source: [[www.pexels.com]]</span>Buying to let is a great investment strategy. In theory, someone else will be paying your bond while you own the asset, generating an income for years to come. The risks are lower than other investments, keeping pace with inflation due to rental escalation. It feels like a win-win situation – but you
July 31, 2018 in Property & Real Estate -
What kind of beast will the African utility of the future be?
The future of African power utilities and the challenges they face has highlighted four possible scenarios of what the continent’s energy sector will look like by the year 2030. In the whitepaper, titled: The Future of Energy and Power Utilities in Africa,utilities are envisioned to either become the lions of Africa, hungry hyenas, an elephant
July 31, 2018 in Energy -
The struggle of saving – Meredith Harington
We live in a time of ever-increasing living costs and financial pressure. Fuel price hikes. Food price increases due to the drought. High interest rates. Rising taxes. It is becoming more and more difficult to save, and for some people it often feels like an accomplishment just surviving from payday to payday. This struggle from
July 30, 2018 in Investments -
The pros and cons of buying development property
With more buyers opting for new properties, developers are moving to fill the gaps in the market as evidenced by the huge number of development properties listed on our website. In recent years, buyers have shown a strong preference for these development properties and this trend looks set to continue. As with any property investment,
July 30, 2018 in Property & Real Estate -
Investec Property Fund in for a change in leadership
Investec Property Fund’s (IPF) Nick Riley will step down as CEO as of 1 December 2018 in order to take on a broader leadership role within Investec Bank Limited (IBL). The fund’s current CFO Andrew Wooler and head of the Investec Property’s South African trading and development portfolio Darryl Mayers will take over as joint
July 30, 2018 in Property & Real Estate -
Brics Summit hailed as a huge success
The 10th Brics Summit, which took place in Johannesburg from the 25th to the 27th of July, has been hailed as a huge success by President Cyril Ramaphosa. President Cyril Ramaphosa “We have come to the end of the Brics Summit, which has been hugely successful. We as South Africa are very pleased with the
July 30, 2018 in Investments -
Why student cities make for a reliable, long-term property investment
While London is the world’s best city for university students – according to higher education analysts QS, it’s far from a cheap option for those on a budget, says George Radford, head of Africa at IP Global. “The cost of accommodation and living expenses in Central London are comparatively higher than the rest of the
July 27, 2018 in Property & Real Estate -
Brics gears up to take its place in digital revolution
Brics leaders are united in their cause to secure their spots in the imminent Fourth Industrial Revolution. Also dubbed the digital age or revolution 4.0, future business models will be characterised by big data, artificial intelligence, and new technologies. “This surge in innovation has the potential to dramatically improve productivity and to place entire countries
July 27, 2018 in Investments -
It’s not about the 2019 election, it’s about growth
Sentiment has always been the key factor that drives the residential property market. But it swings like a pendulum. Right now, there is widespread expectation that nothing will change materially until the election has come and gone. I do not share that stance! In fact, I am prepared to stick my neck out at this
July 27, 2018 in Investments -
Here’s why you don’t need to panic
If one were to believe everything you read, or take to heart everything the analytics and reports suggest, you may end up feeling rather gloomy, particularly pertaining to the performance of the property market over the past few months. Recently the FNB Property Barometer reported that the second quarter of 2018 was a rather bleak
July 26, 2018 in Property & Real Estate -
Challenging the mighty dollar
It is widely accepted that dollar strength is bad for emerging markets (EM), something that seems to have been confirmed by a very tough 2018 for emerging market assets. However, the traditional reasons why, such as investors’ attitude to risk or prevailing financial conditions, are increasingly being questioned. Craig Botham, emerging markets economist A growing
July 25, 2018 in Investments -
Is buying property always a good investment?
The current buyer’s market is great, but does this mean that everyone who has a steady job and income should rush out and invest in bricks and mortar? A slowdown in the economy usually affects the housing market at some point, making it easier for some buyers to buy a home as price growth slows. But does
July 25, 2018 in Property & Real Estate -
Why it’s possible to become a property mogul in any economic climate
The economic climate should never deter buyers from investing in the property market, says Adrian Goslett, regional director and CEO of RE/MAX of Southern Africa. In the words of renowned international motivational keynote speaker and author Siphiwe Moyo, during these tough times, you can either look out the window and be overwhelmed by what is
July 24, 2018 in Property & Real Estate -
an opportunity for SA’s food, beverage industries
In an era of uncertainty, when it comes to both power supply and pricing, renewable energy sources can provide South Africa’s food and beverage industries certainty in both supply and costs. CBC brewery’s 120m2 flat plate collector array. Source: Soltrain, 2016 In recent years, food processing has grown more rapidly than many other sectors in
July 20, 2018 in Manufacturing -
Push for economic transformation continues
Government is pushing ahead in implementing the ring-fencing of certain economic sectors to achieve economic transformation, says Deputy President David Mabuza. “Among the measures we must practically implement without wasting time is the issue of localisation and ring-fencing of certain economic sectors to achieve real economic transformation,” he says, speaking at the Broad-Based Black Economic
July 20, 2018 in Investments -
Panasonic reveals new SA headquarters in Cape Town
Panasonic South Africa, a local subsidiary of Panasonic Corporation, unveiled its new Cape Town offices last week. It was decided to move its headquarters to the Western Cape from Johannesburg because of the growth in its customer base in the region as well as to have access to other large companies located in the Cape,
July 20, 2018 in Manufacturing -
Knight Frank predicts green shoots of recovery for Cape following water crisis
According to Knight Frank CEO (Residential) Richard Hardie, whilst the Cape’s water crisis has certainly impacted the region’s economy and negatively affected property market sentiments, fourth quarter predictions for 2018 into the first quarter of 2019 are set to see the first green shoots of recovery. Image supplied by Knight Frank While there may be
July 20, 2018 in Property & Real Estate -
Flat repo rate welcomed amidst slow economy and property market
We have welcomed the decision by the Reserve Bank’s Monetary Policy Committee (MPC) to retain the repo rate at the current level of 6.50% (base home loan rate of 10%). The decision was largely anticipated by the market given the better than expected consumer inflation figure of 4.6% for June (lower than the market expectation
July 20, 2018 in Property & Real Estate -
SA needs an injection of confidence to stimulate the economy
With inflation still within the target range, but with concerns following a round of fuel price increases and other potential inflationary impacts, as was anticipated, the Monetary Policy Committee kept the repo rate unchanged following this week’s meeting. However, amid ongoing socio-political concerns and consumers’ disposable income under pressure, what South Africa needs now is
July 20, 2018 in Property & Real Estate -
Cryptocurrency provides informed investors an alternative to weakening economy
The knock-on effects of poor economic decisions by Government over the past few years are filtering down to the man on the street causing many consumers to remain in a price pinch. The perpetual rising of costs such as fuel as well as the recent VAT hike are crippling certain sectors of the economy and
July 19, 2018 in Investments -
Repo rate unchanged at 6.5%
The Monetary Policy Committee (MPC) has unanimously decided to keep the repurchase rate unchanged at 6.5% per annum. Reserve Bank Governor, Lesetja Kganyago Reserve Bank Governor Lesetja Kganyago said the MPC still sees the stance of monetary policy to be accommodative and appropriate, given the current state of the economy. “However, the MPC has noted
July 19, 2018 in Investments -
Strong China-SA ties opens up FDI, economic growth and job creation
Investment is a core facilitator of economic growth. From the developed to the developing world, increases in investments have immediate knock-on effects for GDP growth and socio-economic development. One only needs to think of the economic transformation of Mauritius, Swaziland and Lesotho to appreciate the powerful impact that foreign direct investment (FDI) can have on
July 19, 2018 in Investments -
Crytocurrency to power solar projects
With more than one-billion people still living without electricity, which severely inhibits economic development and basic human rights including health, education, safety and security, Sun Exchange has joined forces with Powerhive to utilise the crypto-economy to accelerate global progress towards universal energy access. Through the new partnership, Powerhive has been named as the exclusive recipient
July 19, 2018 in Energy -
RMB invests in Zambian copper mines
Zambia is expected to produce more than one-million tonnes of copper this year, which bodes well for the economy, considering the mineral comprises around 60% of the country’s total exports. The outlook for copper has not always been so positive with the sector experiencing prices as low as $2/lb in 2016, compared to a peak
July 18, 2018 in Investments -
What you will pay for property in Sandton’s most popular suburbs
Interested in moving to the ultimate work, live, play area in the country? This is what you will pay for property in and around Sandton. Sandton is the financial and commercial powerhouse of Gauteng and the national economy. With a multitude of big businesses and banks headquartered in the area, the area offers many employment
July 18, 2018 in Property & Real Estate -
a more secure, transparent, efficient future?
With blockchain technology likely to impact most industries in the world today, Paul Stevens, CEO of Just Property, and Sean Martin, a blockchain entrepreneur with ArkTree and SophiaTX, take a look at the possible implications for the property industry. Even though the likes of Bitcoin have been around since 2009, it is only over the
July 18, 2018 in Property & Real Estate -
LG’s InstaView fridge and TwinWash are models of efficiency
Home appliances have always been designed to make our lives easier. And as consumers become increasingly time-poor, the need for ‘convenience’ is driving more and more of our purchasing decisions. Beyond convenience, the heightened consciousness surrounding environmental impacts, and the awareness around the use of our natural resources, means that businesses, including appliance manufacturers, must
July 17, 2018 in Manufacturing -
Budding furniture designers, manufacturers invited to apply for Good Design Programme
Furniture designers and manufacturers have been invited to apply towards the Good Design Programme, a competition geared at individuals and startups looking to further their understanding of innovation in business and manufacturing, and apply radical design in product development. The programme forms part of the eThekwini Municipality’s Economic Development and Investment Promotion Unit’s Sector Programme.
July 17, 2018 in Manufacturing -
Local steel, aluminium no threat to US security
South Africa has re-emphasised that its steel and aluminium products does not pose any threat to US national security. “It is clear that SA does not pose a threat to US national security and the steel and aluminium industries but it is a source of strategic primary and secondary steel used in further value-added manufacturing
July 17, 2018 in Manufacturing -
Protection of Investment Act may deter foreign investment
The Protection of Investment Act of 2015, which was activated by a notice published in the Government Gazette, on Friday 13 July, has been criticised nationally and internationally for its approach with respect to a number of aspects. The European Union’s Regional Chamber of Commerce and Industry stated that foreigners are hesitant to invest in
July 16, 2018 in Investments -
Saudi Arabia gives SA energy sector $10bn boost
A $10bn investment pledge into the country’s energy sector by Saudi Arabia is set to enhance energy security, create capacity and reduce the cost of energy in South Africa. The pledge was made during President Cyril Ramaphosa’s State visit to Saudi Arabia. “This commitment from the kingdom is a demonstration of confidence in our economy
July 16, 2018 in Investments -
Property constitutes 78% of all fixed capital stock in SA
The Property Sector Charter Council recently released the results its latest study, highlighting the contribution of the property sector to the South African economy. The analysis in the report, The South African Property Sector Economy Contribution, uses the life cycle of a property, from origination to transaction and to its end cycle stage. Portia Tau-Sekati,
July 13, 2018 in Investments -
Mining Charter needs to be rebooted
Controversy and delays around the third Mining Charter continue to deter investment, and the stakeholders need to go back to the drawing board because a one-month extension for token consultation is not going to help. Soria Hay, head of corporate finance at Bravura Mining, a labour-intensive industry which contributed 14% to GDP in 1994, is
July 13, 2018 in Investments -
M&A declined this year, but its not all bad news
Merger & acquisition (M&A) transactions in South Africa declined in terms of both the volume and value of domestic and cross-border deals in the first half of this year. Transactions fell by 44% and 52% in terms of volume and value respectively, in the first half of 2018 compared to H1 2017. Last year, there
July 12, 2018 in Investments -
Should you sell in a down market, or wait it out?
With the Ramahoria-effect waning fast, it is clear that it has not had the desired and anticipated effect on the economy and property market. Analysts and the banks have recently downgraded their outlook for the year ahead with the property market expected to remain flat and possibly weaken further as the year progresses. Amidst the
July 12, 2018 in Property & Real Estate -
Growthpoint to list on A2X stock exchange
Growthpoint Properties will on 18 July list on A2X Markets – the first property listing on the new South African stock exchange. L-R: A2X CEO Kevin Brady and Norbert Sasse, group CEO of Growthpoint Properties Growthpoint will retain its primary listing on the JSE and will not issue any new shares in connection with its
July 11, 2018 in Property & Real Estate -
Mining Charter will create policy certainty and real black empowerment
Ndavhe Mareda, Makole Group chairman In that context, and given mining’s role as the foundation of the modern South African economy, it is imperative that the Mining Charter is accepted and implemented as rapidly as possible. Black ownership As is widely known, the most contentious issue in the charter proposed by the Department of Mineral
July 10, 2018 in Investments -
How to judge the success of the Brics summit? Three questions will do the trick
The Brics bloc is made up of five of the leading countries in the global South — Brazil, Russia, India, China and South Africa. The challenges facing the world range from country specific problems relating to domestic poverty, inequality and unemployment to climate change and a global economic system that is biased in favour of
July 9, 2018 in Investments -
Redefine acquires 95% share in Polish logistics portfolio
Redefine Properties has furthered its expansion into the Polish market with the acquisition of a 95% share for €185.8m (R2.9bn) in a portfolio of nine operating logistics properties. It has also entered into a five-year exclusive priority right for a pipeline of 24 new warehousing and logistics developments with Panattoni, a player in the leasing
July 9, 2018 in Property & Real Estate -
Why Africa’s clothing sector could lead in responsible sourcing
Whether you are a retailer, brand or manufacturer, the need to proactively manage social compliance issues in your supply chain has never been greater. Social compliance matters first and foremost because it’s the moral way to run a company, but the business benefits cannot be ignored either. ©Montian Noowong via 123RF These were the sentiments
July 6, 2018 in Manufacturing -
Zanzibar’s renewable energy plan to address climate change
While concerns about climate change are being actively addressed through different ways including pushing for enforcement of conventions and international protocols, Zanzibar is recording success with its people gradually helping stop damaging the environment. Promoting renewable energy has been among initiatives being used here, in responding to effects of climate change linked to human destruction
July 6, 2018 in Energy -
Looking beyond emerging market jitters to China, India
Rather than offer investors genuine diversification, the vastly different outlooks for individual countries (deteriorating terms of trade, currency vulnerability, political and economic turmoil) have introduced an uncomfortable level of volatility to the emerging market (EM) universe. The net result has been to weaken long-term risk-adjusted return profiles, rather than enhance them, leaving investors questioning their
July 6, 2018 in Investments -
8 steps to becoming a property millionaire
Investing in property can be a profitable venture if done correctly. Follow these tips and you will soon be well on your way to building a property empire. 1. Choose flats over houses Most successful investors will tell you that smaller properties, like flats, generate a better return than houses. If your budget can stretch
July 5, 2018 in Property & Real Estate -
Finding the potential in Africa’s markets
Many investors identify South Africa as the most important market on the continent. We believe other countries in the region also offer much untapped long-term potential, but we recognise that investors may need to be patient and understand some of the unique aspects of doing business in those markets, as well as the risks. Commodity
July 5, 2018 in Investments -
Property valuations: Determining market-related property prices
In light of the upcoming City of Cape Town General Valuation in July, sellers should get professional assistance to value homes and understand what factors determine property values. A general valuation has the potential to have far-reaching consequences for property owners. More often than not, property values are lowered. The City of Cape Town’s pending
July 4, 2018 in Property & Real Estate -
Demystifying 6 of SA’s property market risks
As key players within the residential property markets, commercial banks have become expert in managing the associated risks of being exposed to the mortgage market. FNB’s recent report on the South African residential property market categorises the various risks as follows in its Housing Market Risk index: 1. Household debt service risk, 2. Household sector
July 3, 2018 in Property & Real Estate -
Collectable coins celebrate home grown CT scan
The South African’s Mint’s 2018 South African Inventions coin series celebrates the computed tomography scan, or CT (cat) scan, a medical technology developed by South African-born Allan McLeod Cormack. R2 crown Medical imaging tool While working at the Cavendish Laboratory at Cambridge University in England, Cormack developed algorithms that used information from x-ray ‘slices’ of
July 3, 2018 in Investments -
Offshore investment presents big opportunity for SA REITs
In the second half of 2018, the global sell-off in emerging markets, an intractably weak domestic economy, an oversupply of business space, and a focus on the quality of earnings are all set to be major drivers of the SA REIT sector. International investment remains a compelling opportunity for the sector. Over 50% of SA
July 3, 2018 in Investments -
“Never been a better time to launch a startup as a female founder”
“There’s never been a better time than now to start a business as a female founder, there is a lot of support there and a lot of women that serve as good examples.” That is the view of Aisha Pandor, chief executive officer (CEO) of South African startup SweepSouth, speaking on a panel about female
July 2, 2018 in Venture Capital -
Study shows that millennials are underinsured
The low uptake of insurance among millennials is rooted in behaviour typical of this population segment, including frequent job changes, mistrust of the financial services industry and misperceptions about the cost of insurance products – 53% of millennials indicate that they cannot afford insurance. However, it would take as little as 4,6% of the average
July 2, 2018 in Investments -
International lenders warn on capacity constraints in Africa
Speaking in Abidjan during a one-day forum on investment risks in Africa hosted by the African Trade Insurance Agency (ATI), experts acknowledged that the abundance of current liquidity in the market did nothing to alleviate the capacity constraints faced by most banks when doing business in Africa. John Lentaigne, chief underwriting officer, ATI Roundtable Lenders
June 29, 2018 in Investments -
International lenders warn on capacity constraints in Africa
Speaking in Abidjan during a one-day forum on investment risks in Africa hosted by the African Trade Insurance Agency (ATI), experts acknowledged that the abundance of current liquidity in the market did nothing to alleviate the capacity constraints faced by most banks when doing business in Africa. John Lentaigne, chief underwriting officer, ATI Roundtable Lenders
June 29, 2018 in Investments -
Pick the right property to start building your investment portfolio
Investing in property is an option many South Africans consider as it offers an excellent extra source of income. Over time the rental income from the property increases while the balance of the mortgage decreases. By the time the investor is ready to retire, if not sooner, the bond is paid and he/she has the
June 29, 2018 in Property & Real Estate -
Is now a good time to buy investment property?
‘Buy now’, is a popular refrain that investors hear, but there is no right or wrong time to buy property. Buying property can be a good investment at any time, if you follow sound investment principles. Anyone giving advice on the best time to buy property, bitcoin, stocks, commodities are more than a little dodgy
June 28, 2018 in Property & Real Estate -
African startups invited to apply for $50k impact investing challenge
African startups have been invited to apply for the $50,000 MBA Impact Investing Network and Training (MIINT) challenge, an experiential lab designed to give students at business and graduate schools a hands-on education in impact investing. The MIINT competition will select the startup that has the highest social, environmental and economic returns to receive $50,000
June 28, 2018 in Venture Capital -
African startups invited to apply for $50k impact investing challenge
African startups have been invited to apply for the $50,000 MBA Impact Investing Network and Training (MIINT) challenge, an experiential lab designed to give students at business and graduate schools a hands-on education in impact investing. The MIINT competition will select the startup that has the highest social, environmental and economic returns to receive $50,000
June 28, 2018 in Venture Capital -
Could Cape Town’s property prices have finally hit their ceiling?
While the Cape Town property market showed seemingly limitless price growth during difficult national conditions that caused stagnation in many other markets across the country, trends over recent months suggest this meteoric rise may be coming to an end. Many have questioned whether Cape Town property prices have finally reached their limit. “There’s no doubt
June 28, 2018 in Property & Real Estate -
How to beat the odds and stay wealthy
In 1982, Forbes Magazine in the United States published its now-renowned list of the 400 wealthiest Americans for the first time, ranked by their net worth. Twenty-one years later, JP Morgan conducted a study to examine the list and determine which families remained amongst the country’s wealthiest. © Kittisak Wutthikraichamrat via 123RF The result was
June 28, 2018 in Investments -
#MFGIndaba: Expect to be disrupted
Innovation happens at the speed of trust, not the speed of technology. Roby Stancel from Virtual Consulting International explains this using the automotive industry as an example. “The automotive industry is facing numerous disruptions as people are behaving differently with new ways to move, such as sharing rides, not catered for by traditional cars. The
June 27, 2018 in Manufacturing -
This is why Silicon Valley is decamping to Algiers
The value of venture capital investment is said to be fuelling Africa’s emerging technology landscape. Whilst Kenya’s Silicon Savannah ecosystem has been at the forefront of the narrative over the past decade, the rise of infrastructure development opportunities within Northern Africa has become an increasingly attractive proposition to the Silicon Valley investment community. © vasin
June 27, 2018 in Venture Capital -
good or bad for manufacturing?
The two countries with the lowest employment in the world, Germany and Japan, are also home to the world’s most automated manufacturing industries in the world. However, while it is a myth that automation takes away jobs, it cannot be denied that the 4th Industrial Revolution will affect the manufacturing sector. ©Praphan Jampala via 123RF
June 26, 2018 in Manufacturing -
Lessons from K-Way’s lean turnaround
K-Way factory, Ottery, Cape Town. K-Way was certainly not alone in its struggle at the time. South Africa’s clothing industry was in decline, faced with uneven competition against cheap imports from Asia; approximately 100,000 jobs had been lost during the previous decade and job security within the industry was becoming an elusive concept. The search
June 26, 2018 in Manufacturing -
#MFGIndaba: Business beyond 2020
For manufacturers to stay ahead they need to think consciously about the next thing and come up with the next thing. “For manufacturers to stay ahead, they need to be innovative, creative, agile and never stop learning. They must reduce the digital divide and bring people who are not part of this new world of
June 26, 2018 in Manufacturing -
#MFGIndaba: An uncomfortable world
In same the way as the 1st, 2nd and 3rd Revolutions did, the 4th Revolution is creating discomfort around the globe. ©bettorodrigues via 123RF As old gives way to new and as we wrestle with this discomfort, we are experiencing a social backlash against this change. “Evidence of this Trump’s election and Britain’s exit from
June 26, 2018 in Manufacturing -
Realistic pricing remains key in Southern Suburbs rental market
Slowing semigration and the reluctance of landlords to adjust their price expectations, especially in the higher price bands which continue to be subdued by a growing stock surplus, are some of the factors which contributed to the steady decline of the Southern Suburbs rental market in 2017. Lorraine-Marie Dellbridge, rentals manager for Lew Geffen Sotheby’s
June 26, 2018 in Property & Real Estate -
Factory of the year launches in SA
Factory of the Year launched at this year’s Manufacturing Indaba. A benchmarking competition that recognises manufacturing excellence, Factory of the Year has been running since 1992 in 30 countries across the globe, including Germany, the United States (US) and the United Kingdom (UK), with over 2 000 factories participating. Theo Sibiya, partner at AT Kearney.
June 25, 2018 in Manufacturing -
Manufacturing key to growing SA economy
With its multiple effect, manufacturing is the one sector in the economy that has the potential to create the jobs the country needs so desperately. But the industry is under threat and has declined. “The industry has not been able to get back the 400,000 jobs lost in the 2008 financial crisis and its contribution
June 25, 2018 in Manufacturing -
Joburg rental market not out of the woods yet
According to Shaun Groves, rental specialist for Lew Geffen Sotheby’s International Realty in Gauteng, while the rental market in many Johannesburg suburbs has shown encouraging signs of revival this year, it is by no means out of the woods yet. “There has certainly been a healthier appetite and good uptake for rental property, especially during
June 25, 2018 in Property & Real Estate -
New, in-depth African renewable energy report launched
Hogan Lovells launched its new report, Africa and Renewables: Wholesale change or short term surge?, at the recent African Energy Forum in Mauritius. Compiled with input from the firm’s partners and clients, spanning infrastructure, energy, finance, and private equity, the report highlights the challenges posed by producing and accessing renewable energy in Africa, and how
June 25, 2018 in Energy -
Barcode centre needed to boost local products on retail shelves
WINDHOEK, Namibia – The Namibia Trade Forum (NTF) is currently working on two projects to boost retail access of locally manufactured goods. These projects entail a feasibility study on establishing a Barcode Centre as well as a Supplier Development Programme in Namibia. ©Anan Kaewkhammul via 123RF “A local barcode centre has been necessitated by the
June 22, 2018 in Manufacturing -
Building Africa’s future on renewable energy
There is no doubt that renewable energy is the future for Africa. Already, several countries on the continent have taken the lead in promoting investment in renewable energy, which over time will become a significant source of power to both households and businesses. One of the key factors contributing to more extensive use of renewable
June 22, 2018 in Energy -
Now’s an opportune time to get onto the property ladder. Here’s why
First-time buyers with funds at their disposal are currently well-placed to gain an initial foothold on the property ladder. Particularly in the light of interest rates remaining at historic lows, banks continuing to compete for mortgage finance business, and the slightly lower growth rates currently experienced in residential property values. Says Dr Andrew Golding, chief
June 20, 2018 in Property & Real Estate -
Why African startups are now on the acquisition trail
Investments in African startups are on the up year-on-year, with funding flooding into a variety of countries and a large selection of sectors. The annual Disrupt Africa African Tech Startups Funding Report tracks the growing investor interest in the continent’s tech scene, but it also tracks acquisitions and exits each year. This tells a less coherent story.
June 20, 2018 in Venture Capital -
SA explores ways to save steel industry from collapse
Government is committed to work with the steel industry to save jobs and has put in place measures to save the industry from collapsing, says the Department of Trade and Industry (dti). Briefing the Portfolio Committee on Trade and Industry on the status of the steel industry, dti officials said the department has put in
June 15, 2018 in Manufacturing -
How sub-Saharan Africa can harness its big electricity opportunities
Khi Solar One near Upington. Photo: Wikicommons Getting affordable electricity to the sub-Saharan population is a multifaceted challenge. Demand is expected to increase by 4% year on year, but the supply shortage already results in frequent blackouts. People are forced to use expensive and inefficient generators which run on fossil fuels to provide reliable power.
June 11, 2018 in Energy -
Make-IT in Africa launches Kenya, Nigeria investment guides
The Make-IT in Africa initiative has launched guides for entrepreneurs raising funding in Kenya and Nigeria, aimed at helping startups overcome one of the key challenges faced on the continent. © Dmitry Rogatnev via 123RF The first edition of Scale Up! Entrepreneurs’ Guides to Investment in Nigeria and Kenya is now available for free download here,
June 7, 2018 in Venture Capital -
Why foreign investment is no easy fix for Africa’s energy needs
The focus on electrification is illustrated by the type of foreign aid sub-Saharan Africa currently receives. While overall commitments from Western countries to the area have been largely constant over the last decade, aid to the power sector specifically is six times greater. China has also upped its engagement, and is now responsible for a
June 4, 2018 in Energy -
Can renewables supply 100% of our energy?
The naysayers have long held that renewables are too unpredictable for us to rely on them totally to supply energy. The traditional questions that arise are: Is there enough space for all the wind turbines and solar panels to provide all our energy needs? What happens when the sun doesn’t shine and the wind doesn’t
May 25, 2018 in Energy -
what else can investors offer your startup?
That is the view of Onyeka Akumah, chief executive officer (CEO) of Nigerian agricultural crowd investment platform Farmcrowdy. “In some cases, investors are silent partners, only investing money and expecting that the money is well managed as evidenced in monthly or quarterly reports. However, some investors like to actively participate in startups where they have invested.
May 25, 2018 in Venture Capital -
Doing good is good for business: Tiekie Barnard explains the benefits of Shared Value
Business is driven by profit, but Shift Social Development CEO Tiekie Barnard believes in the importance of profit with purpose. In this Q&A, she explains the meaning of Shared Value and how companies can use this business strategy to find where the biggest growth opportunities lie Q: Why is ‘purposeful branding’ important in terms of
May 21, 2018 in Investments -
African Utility Week Industry Awards finalists announced
The finalists in the fifth annual African Utility Week Industry Awards have been announced. The awards recognises pioneering utilities, projects and people in the energy and water industry on the continent during 2017/2018. African Utility Week Industry Awards 2018 finalists: Lifetime Achievement Award Siengui Apollinaire KI, secretary general, Western African Power Pool, Burkina Faso Alex
May 8, 2018 in Energy -
Orange Digital Ventures funds Africa’s Talking
The Orange Group’s new investment fund for Africa, Orange Digital Ventures Africa, has invested in API platform Africa’s Talking by helping raise $8.6m alongside the IFC World Bank and Social Capital. Africa’s Talking provides access to telecom operators’ communication and payment APIs (programming interfaces) for developers. Many Kenyan startups and developers use these APIs including
May 3, 2018 in Venture Capital