Business Extra

In this week's podcast, host Kelsey Warner is joined by John Garvey, the global financial services industry leader at PwC. They discuss a new phase of the US-China tariff war and an underwhelming end to the United Nations' climate change summit, COP25. Are signs of action from the private sector cause for optimism?

Also discussed: the future of work in the financial services industry and why productivity tracking is a game-changer.

In this episode:

US-China 'Phase One' deal (0m 27m)

Why COP25 dragged on for two extra days (5m 50s)

The private sector's role in climate change action (7m 58s)

John Garvey on the case for productivity and financial services' 'lost decade' (14m 10s)

Read more on our website:

• Oil rallies as US-China agree 'phase one' trade deal

• 2020 predictions: from oil at $85 to a Trump election win

• Sun could be Middle East’s biggest export by 2030, says Bill Gates-backed company founder

• Madrid climate talks 'disappointing' says UN chief Antonio Guterres

Hosts Mustafa Alrawi and Kelsey Warner are joined by David Young, CEO of Oxford Analytica, a strategic consulting and advisory firm. They discuss Google rolling out its digital assistant in Arabic across the MENA region, Saudi Arabia's 1.02 trillion riyal budget for 2020 and how Oxford Analytica started 45 years ago to provide daily briefs inspired by the White House.

In this episode: 

Google's virtual assistant in arabic (0m 34s)

US vs China (5m 34s)

Saudi Arabia's 2020 budget (10m 35s)

David Young on Oxford Analytica (17m 12s)

Headlines (25m 09s)

Read more on our website:

• Alphabet’s Google Assistant rolls out Arabic service across the Mena region​​​​​​​​​​​​​​​​​​​​​​​​​​​​​​​​​​​​​​​​​​​​​​​​​​​​​​​​​​​​​​​​​​​​​​​​​​​​​​​​​​​​​​​​​​​​​​​​​​​​​​​​​​​​​​​​​​​​​​​​​​​​​​​​​​​​​​​​​​​​​​​​​​​​​​​​​​​​​​​​​​​​​​​​​​​​​​​​​​​​​​​​​​​​​​​​​​​​​​​​​​​

• Saudi Arabia sets 2020 budget with plans to spend 1.02 trillion riyals

• Former head of US Fed Paul Volcker dies

• ENBD Reit to delist from Nasdaq Dubai

• MBC Group appoints new CEO

Egypt wants at least one person in each household to work in tourism as part of wider plans to develop a resilient and sustainable sector through structural reforms that will boost its competitiveness globally.

In this week's Business Extra, Mina Al-Oraibi, The National's editor in chief, and Mustafa Alrawi, The National's assistant editor in chief, speak exclusively to Dr Rania Al Mashat, Egypt's tourism minister, on the country's plan to create a resilient sector and how it intends to take advantage of its many ancient and natural riches.

In this episode

Interview with Dr Rania Al Mashat: 1minute 26 seconds

Headlines: 23m 30s

Tesla’s launch of its cybertruck has sent the hype around electric vehicles into a frenzy –  where are we in reality in terms of the mass take up of electric vehicles – but one thing is certain -  Elon Musk has radically changed our perceptions of the future of transport.

Hosts Mustafa Alrawi, assistant editor in chief and The National’s future editor, Kelsey Warner talk to Yunshi Wang (Director of China Centre for Energy and Transportation, UC Davis). They discuss about the EV industry and the Tesla Cybertruck.

In this episode: 

Kelsey and Mustafa on the Cybertruck & EVs (0m 38s)

Yunshi Wang (14m 30s)

Headlines (28m 05s)

Read more on our website:

• Tesla Cybertruck: Elon Musk enters stiff pick-up truck market with electric model

• Dubai extends free charging for electric cars for a year

• Abu Dhabi receives bids for planned 2GW solar scheme

• Abu Dhabi luxury developer expands Moroccan portfolio with Dh571m mixed-use project

• UAE is most prosperous Arab nation for 13th year, study says

Billions of dollars of aircraft orders, manufacturing and maintenance tie ups, advancements on how to make aviation more sustainable – it must be the Dubai Airshow which is proving to be another blockbuster week for the industry.

Host Mustafa Alrawi, assistant editor in chief and Kelsey Warner, The National's future editor talk about the Mubadala Aerospace merger of its three aerospace and industrial companies, Tawazun Economic Council, the Etihad Greenliner and so much more. We also talk to Badr Al Olama, Head of Mubadala Aerospace at Mubadala Investment Company at the Dubai Airshow.

In this episode: 

Kelsey and Mustafa on the Dubai Air Show (0m 31s)

Badr Al Olama (11m 16s)

Headlines (25m 54s)

Read more on our website:

• Airbus wins $30bn in orders at Dubai Airshow as Boeing lags behind

• Airbus to trial flying A350s together like migrating geese to save on fuel

• Dubai to hold talks in December on airports' expansion strategy

• UAE debtors hope new insolvency law will ease 'mental trauma' of chronic debt

• Dubai's Emaar Properties launches Dh25bn The Valley community

• Moroccan sovereign fund aims to double investments to $6bn in 5 years

• Saudi Aramco IPO price range values company at up to $1.7 trillion

The world’s biggest crude oil producer, Saudi Aramco launches the subscription period for its much-anticipated IPO as it rolls on with its ambitions to become the globe’s pre-eminent integrated energy and chemicals company.

This week host Mustafa Alrawi, assistant editor in chief and Kelsey Warner, The National's future editor talk with Dr. Nasser Saidi, regular contributor to The National and president of the economic advisory and business consultancy Nasser Saidi & Associates about the Aramco IPO.

In this episode: 

Kelsey and Mustafa on Adipec (0m 32s)

Dr. Saidi on Aramco's IPO (8m 21s)

Headlines (27m 14s)

Read more on our website:

• Aramco to offer up to 0.5% of shares to individual investors as IPO starts November 17

• 9 things you need to know about the Saudi Aramco IPO

• Emaar Q3 profit up 20% as company looks to Dh25bn project

•Steve Madden says shoe empire has only ‘halfway’ penetrated the Middle East

• UAE's cumulative FDI grew 8 per cent to $140bn in 2018

•Oil majors and Asian energy companies partner with Adnoc on international crude futures exchange

It’s been a busy week for the Business Extra team as the cooler weather kicks off the UAE conference season. The World Economic Forum has been in town, it is Dubai Future Week, the world’s largest oil and gas exhibition is set for Abu Dhabi in a few days’ time and we have the air show coming up before the end of this month. Those are only a handful of the things going on in November. Amid the action Mustafa Alrawi and Kelsey Warner welcome guest host Clemence Dutertre, CEO at Careem-RTA JV Hala to talk about the bridge between private and public sector ride hailing and this week’s news stories and business announcements.

 

In this episode: 

Kelsey and Mustafa on EDGE (0m 38s)

Clemence Dutertre (4m 57s)

Headlines (29m 23s)

Read more on our website:

• Crown Prince of Abu Dhabi unveils one of Middle East's biggest defence groups

• World Economic Forum grapples with transition ‘from Cold War to hot peace’ in Dubai

• 9 things you need to know about the Saudi Aramco IPO

• Adnoc's Murban crude to be listed on futures exchange in 'historic' step-change for Abu Dhabi's oil pricing

• UAE Central Bank to roll out FinTech office to develop countrywide ecosystem

• Lebanon sees $3bn in capital flight as Mena flows set to rise

• World's largest floating wind turbine to be installed in Europe

• Emaar Malls third quarter profit climbs 12% on rising footfall and Namshi sales

The world’s most powerful investors, heads of state, former leaders, entrepreneurs and government ministers are gathering in the Saudi Arabian capital this week to discuss the future of technology, sustainable development, capital markets, infrastructure financing, energy – old and new – gene editing and cellular therapies. Host Mustafa Alrawi talks to Kelsey Warner, future editor of The National who is attending the Future Investment Initiative held in Riyadh.

 

In this episode: 

Kelsey on FII (1m 20s)

Who is attending FII? (14m 47s)

New podcast by The National (25m 45s)

Headlines (26m 46s)

 

 Read more on our website:

• Global elite head to Saudi Arabia as country's economic transformation gathers pace​​​​​​​​​​​​​​​​​​​​​​​​​​​​​​​​​​​​​​​​​​​​​​​​​​​​​​​​​​​​​​​​​​​​​​​​​​​​​​​​​​​​​​​​​​​​​​​​​​​​​​​​​​​​​​​​​​​​​​​​​​​​​​​​​​​​​​​​​​​​​​​​​​​​​​​​​​​​​​​​​​​​​​​​​​​​​​​​​​​​​​​​​​​​​​​​​​​​​​​​​​​​​​​​​​​​​​​​​​​​​​​​​​​​​​​​​​​​​​​​​​​​​​​​​​​​​​​​​​​​​​​​​​​​​​​​​​​​​​​​​​​​​​​​​​​​​​​​​​​​​​​​​​​​​​​​​​​​​​​​​​​​​​​​​​​​​​​​​​​​​​​​​​​​​​​​​​​​​​​​​​​​​​​​​​​​​​​​​​​​​​​​​​​​​​​​​​​​​​​​​​​​​​​​​​​​​​​​​​​​​​​​​​​​​​​​​​​​​​​​​​​​​​​​​​​​​​​​​​​​​​​​​​​​​​​​​​​​​​​​​​​​​​​​​​​​​​​​​​​​​​​​​​​​​​​​​​​​​​​​​​​​​​​​​​​​​​​​​​​​​​​​​​​​​​​​​​​​​​​​​​​​​​​​​​​​​​​​​​​​​​​​​​​​​​​​​​​​​​​​​​​​​​​​​​​​​​​​​​​​​​​​​​​​​​​​​​​​​​​​​​​​​​​​​​​​​​​​​​​​​​​​​​​​​​​​​​​​​​​​​​​​​​​​​​​​​​​​​​​​​​​​​​​​​​​​​​​​​​​​​​​​​​​​​​​​​​​​​​​​​​​​​​​​​​​​​​​​​​​​​​​​​​​​​​​​​​​​​​​​​​​​​​​​​​​​​​​​​​​​​​​​​​​​​​​​​​​​​​​​​​​​​​​​​​​​​​​​​​​​​​​​​​​​​​​​​​​​​​​​​​​​​​​​​​​​​​​​​​​​​​​​​​​​​​​​​​​​​​​​​​​​​​​​​​​​​​​​​​​​​​​​​​​​​​​​​​​​​​​​​​​​​​​​​​​​​​​​​​​​​​​​​​​​​​​​​​​​​​​​​​​​​​​​​​​​​​​​​​​​​​​​​​​​​​​​​​​​​​​​​​​​​​​​​​​​​​​​​​​​​​​​​​​​​​​​​​​​​​​​​​​​​​​​​​​​​​​​​​​​​​​​​​​​​​​​​​​​​​​​​​​​​​​​​​​​​

• Investcorp secures liquidity from HarbourVest for its Mena private equity portfolio

• Iraq protests not impacting country's oil production yet, IMF official says

• ADGM issues new employment regulations

After flight software aboard its 737Max jet was found to be the culprit of two airline crashes within the last 12 months, Boeing was forced to ground all 387 of the aircraft worldwide; impacting 8600 weekly flights and forcing 59 airlines to come up with alternatives. It is the world's largest manufacturer of commercial aircraft. But a fall from grace has Boeing facing regulators and customers demanding answers and a scramble to return its best-selling 737 Max aircraft to the skies. Host Kelsey Warner speaks to The National’s aviation correspondent Deena Kamel who has returned from a visit to Boeing’s US production facilities. Deena explains the company’s plans for the future, including damage control and space travel.

In this episode: 

New Podcast by The National (0m 51s)

Boeing 737 Max (1m 57s)

Boeing and NASA (14m 34s)

Etihad and Air Arabia (20m 36s)

Read more on our website:

• Boeing may face billions more in losses as MAX crisis deepens — analysts

• Boeing begins countdown to first spacecraft test flight

• Etihad and Air Arabia to set up Abu Dhabi's first low-cost airline

Boeing and Porsche are working together to develop the concept and test the prototype for and electric vertical take-off and landing (eVTOL) car. The National’s Mustafa Alrawi Assistant Editor in Chief and Future Editor Kelsey Warner discuss their enthusiasm or skepticisms about the announcements before taking a look at the WeWork.

 

WeWork promised to change the way people work and eventually how they live. Somewhat unconventional co-founders at the company charted meteoric growth that wowed investors and propelled the company to a $47 billion valuation, one of the highest for a start-up. But WeWork were forced to halt plans to go public on Sept. 30 because of investor concerns about how it was valued and whether its business model is sustainable. Adam and Rebekah Neumann have stepped down from their positions and now job cuts are on the horizon. 

 

In this episode: 

Flying Cars (1m 21s)

WeWork (8m 34s)

Headlines (27m 30s)

 

Read more on our website:

• Abu Dhabi property yields increase as prices fall faster than rents

• JP Morgan sees long-term growth in Middle East business after record year

• Engie eyes investments in district cooling and renewables in the Middle East

• Boeing and Porsche team up to develop flying electric car