Business Extra

Uber Technologies has agreed to buy Careem in a $3.1 billion (Dh11.39bn) deal that is the largest technology sector transaction in the Middle East so far, eclipsing Amazon’s $580 million acquisition of Souq in 2017.

With governments across the region looking to nurture start-ups in the technology space, the size of the Uber-Careem deal, as well as the increased availability of expertise and liquidity in its wake, will be seen as a catalyst for both budding entrepreneurs and investors, from inside and outside the Middle East. 

Mustafa Alrawi, The National's Assistant Editor in Chief, breaks down the impact of the deal with Chris Nelson and Kelsey Warner. What impact will the deal will have on the region and its start-up scene?

157 passengers and crew lost their lives when an Ethiopian Airlines flight operating a Boeing 737 Max 8 crashed near Addis Ababba, en route to Nairobi, last Sunday. It is a terrible tragedy for their families, Ethiopia, Africa, the world and the aviation industry.

Mustafa Alrawi, The National’s Assistant Editor in Chief, and aviation correspondent Deena Kamel discuss the potential impact of the crash on confidence in Boeing’s 737 Max 8 aircraft and the wider air travel industry. 

There has been an understandable reaction in the wake of the Ethiopian Airlines disaster. Demand for answers is growing as the investigation continues into how the 737 Max 8 aircraft crashed only minutes into the flight.

As a precautionary safety measure for passengers, crew and the public at large the UAE, the UK, South Korea, Australia and China and others have grounded their 737 Max fleets and prohibited the aircraft from flying in their airspace.

The concerns are that this tragedy is not an isolated one. An Indonesian Lion Air flight also operating the 737 Max 8 aircraft crashed in October, killing all 189 people aboard. 

Mustafa Alrawi, The National’s Assistant Editor in Chief, and aviation correspondent Deena Kamel discuss the potential impact of the crash on confidence in Boeing’s 737 Max 8 aircraft and the wider air travel industry. 

Entrepreneurialism underpins the UAE’s push to broaden the economy and cement its position as a world leader in innovation.

Ramesh Jagannathan, the Vice Provost for Innovation and Entrepreneurship and the Managing Director of StartAD, the innovation and entrepreneurship platform at NYU Abu Dhabi, is dedicated to providing the necessary tools for start-up creators here.

In this episode of the Business Extra podcast, Ramesh Jagannathan talks to Chris Nelson about how the entrepreneurial landscape is developing in the UAE.

With the March 29 deadline for the UK to divorce the European Union close on the horizon, investors both within the country and overseas are trying to prepare for what the outcome might be.

However, whether it be leaving with a no-deal, a good deal or bad one, postponing the exit or even deciding not to leave the EU at all, markets, the pound and investor sentiment will all be affected.

In this episode of the Business Extra podcast, Chris Nelson talks to Jameel Ahmad, Global Head of Currency Strategy and Market Research at the international foreign exchange broker FXTM, about what some of those effects might be, from a British and international perspective.

The Abu Dhabi National Oil Company is now rated as the most creditworthy oil and gas producer in the world, according to Fitch.

This is a strong validation from one of the world’s leading credit ratings agencies of Adnoc's strategy and transformation into a more commercially driven and innovative organisation.

In this week's Business Extra podcast, we talk to Dmitry Marinchenko, Fitch's oil and gas director and the primary analyst for Adnoc, about the credit ratings process, how Fitch arrived at its assessment and what it means for Adnoc in the future.

The global military industry is a vast and hugely lucrative sector where defence spending produces some eye-watering numbers. Next week, Abu Dhabi once again takes centre stage for the world’s major manufacturers and government procurement leaders when the International Defence and Exhibition Conference, Idex, and the Naval Defence Exhibition, Navdex, take place from 17 to 21 of February.

In this week’s Business Extra Podcast, The National’s Chris Nelson and Assistant Editor in Chief Mustafa Alrawi talk about the exhibitions and what role the military industry has from a local and global perspective.

Later, the sometimes mysterious world of human resources comes under the spotlight as Sadek El Assaad, chief executive of Zeder Group, comes into the studio to talk about the evolution of HR.

QuadrigaCX, one of Canada’s leading cryptocurrency exchanges, last week filed for creditor protection saying it was unable to retrieve almost $200m worth of deposits belonging to clients because its CEO Gerald Cotten, the only one able to do so, had unexpectedly died.

The National’s Assistant Editor in Chief Mustafa Alrawi and Chris Nelson discuss the issue, which has all the makings of a mystery novel.

In addition, this week marks earnings season and so far things are looking good both here and across much of the region.

The latest mega-merger in the UAE’s financial sector, which sees the coming together of Abu Dhabi Commercial Bank, Union National Bank and Al Hilal Bank, is also making headlines.

This week’s podcast focuses on Adnoc’s agreement with Italian and Austrian energy companies ENI and OMV and Saudi Arabia’s new industrial programme, while HOFTEL chairman Simon Allison talks about the international hospitality sector .

Abu Dhabi National Oil Company announced it is selling stakes in its refining unit to ENI and OMV, and setting up a trading joint venture with both companies as part of its drive to become an integrated energy major.

Meanwhile, in Saudi Arabia, the kingdom unveiled its enormous new industrial strategy, signing deals worth many billions of dollars as part of its Vision 2030 programme.

Chris Nelson is joined by The National’s energy reporter Jennifer Gnana and companies correspondent Sarmad Khan to talk about both topics.

Later, ahead of the Gulf and Indian Ocean Hotel Investors Summit at Yas Island in Abu Dhabi on February 4 to 6, Simon Allison, the chairman of the international hotel owners alliance HOFTEL, discusses developments in the hospitality industry and how the sector, both globally and regionally, is adapting.

The National’s Assistant Editor in Chief Mustafa Alrawi gives his take on this year’s World Economic Forum in Switzerland .

The picture-perfect Swiss Alpine resort of Davos this week plays host to the planet’s most influential movers and shakers who come together once a year for the World Economic Forum.

While some big hitters have stayed away this time to deal with problems closer to home, the forum is still a significant opportunity for the international community to focus on solving the pressing issues we are all affected by and pointing the way to a brighter future, economically, commercially and this year environmentally.

Speaking directly from Davos, The National’s Assistant Editor in Chief Mustafa Alrawi talks to Chris Nelson about what is shaping the agenda at this year’s WEF.