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As one of the world’s most influential business hubs, the Middle East requires expert attention. Business Extra provides those experts, as well as news and insights from The National’s esteemed team of business editors and reporters, who are on top of the markets, technology, the energy sector and more.
Episodes
Wednesday Mar 16, 2022
Wednesday Mar 16, 2022
The relationship between the UAE and the US is perhaps one of the most important for stability in the wider region. The two nations have been allies for decades, working across defence, energy, technology and investment.
However, these ties are currently going through what the UAE's ambassador to Washington, Yousef Al Otaiba, called a “stress test".
When the countries eventually move into a new phase, it has the potential to be something quite exciting and promising that encompasses technology, culture, energy and defence.
That's according to Sean Murphy, Charge d'Affaires at the US Embassy in Abu Dhabi.
He tells host Mustafa Alrawi that the UAE-US relationship is “built on solid foundations".
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Wednesday Mar 09, 2022
Wednesday Mar 09, 2022
Oil prices touched their highest level since 2008 — surging past $130 a barrel — after US President Joe Biden banned crude, gas and coal imports from Russia on Tuesday, in retaliation for Moscow's invasion of Ukraine.
Wheat and other soft commodities are also rising on supply concerns, as both Russia and Ukraine are big producers. There is already a knock-on effect on food costs. Metals, including aluminium and nickel, are experiencing similar record price jumps and industries such as car making will feel the pinch.
There has been a feeling of chaos these past few days on global markets.
Joining hosts Mustafa Alrawi and Kelsey Warner, Ole Hansen, head of commodity strategy at Saxo Bank, explains how we have arrived at this point and how long the price rally might last. He also discusses the impact on the green transition and the success of climate action, with energy markets in turmoil.
In this episode:
Alternative agriculture suppliers (6m 54s)
The gap between the financial and physical markets (9m 55s)
What will happen to the energy transition? (16m 01s)
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Wednesday Mar 02, 2022
Wednesday Mar 02, 2022
As the consequences of the Covid-19 pandemic recede, the most critical issue faced by those leading the energy industry becomes the transition to a less carbon-intensive world after the commitments made at Cop 26 climate summit in Glasgow.
How will this be managed amid an evolving global landscape which also includes heightened geopolitical risk and the concern around security of energy supplies.
Randy Bell, senior director and Richard Morningstar Chair for Global Energy Security at the Atlantic Council joined hosts Mustafa Alrawi and Kelsey Warner in the studio in Abu Dhabi to look ahead at what could be the main factors shaping the sector in the coming twelve months.
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Wednesday Feb 23, 2022
Wednesday Feb 23, 2022
The future of ownership or a passing fad?
NFTs, or non-fungible tokens, a digital object underpinned by the blockchain, have taken the digital art world by storm — and Sotheby's is taking note.
The storied auction house credited an “influx of younger, tech-savvy collectors” interested in luxury goods and NFTs for its success in 2021, when it reported its highest sales figure since it opened in 1744.
But the digital space is not without its grifters, spammers and scammers.
OpenSea, the world's biggest NFT marketplace by volume, said last month that 80 per cent of the NFTs minted on its platform are “plagiarised works, fake collections and spam".
To better understand the world of NFTs and art — and what still needs to be done to make the market less fraudulent — host Kelsey Warner is joined this week by Michael Bouhanna, the co-head of digital art sales at Sotheby's.
In this episode:
The digital art scene, NFTs and why Sotheby's wants to get involved (2m 24s)
Collector trends and tastes in the NFT space (7m 30s)
Security and investment in the NFT world (9m 19s)
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Wednesday Feb 16, 2022
Wednesday Feb 16, 2022
Rising geopolitical tensions, an energy crunch and the thrum of pandemic economic recovery are setting an uncertain path to net zero.
But how did we get here? And what are the forces in play during a decisive decade for climate action?
Alexis Crow, a senior fellow at the Atlantic Council with a background in geopolitics and economics, joins co-hosts Mustafa Alrawi and Kelsey Warner to lay out what to expect in the year ahead for fossil fuels, renewables and the push and pull of the “old” versus “new” economies.
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Tuesday Feb 08, 2022
Tuesday Feb 08, 2022
Amid inflation, an energy crisis, volatile stock markets and increasing scrutiny of big technology firms, there is concern over how tensions between global powers such as the US and Russia might spill over into conflict.
The major crisis is around Ukraine, but there are other pain points, including North Korea's ballistic missile programme, the war in Yemen, ISIS's enduring threat and the continuing talks over Iran's nuclear programme.
Higher oil and gas prices are a symbol of these worries. What should decision makers and senior executives do to mitigate the rising risk profile?
Co-hosts Mustafa Alrawi and Kelsey Warner talk to The National's UK-based business commentator Chris Blackhurst about how industry and commerce could be affected by the higher levels of uncertainty.
In this episode:
Has geopolitics taken precedence over the energy transition? (10m 59s)
The consequences of Brexit (14m 06s)
Actions business leaders should take (17m 08s)
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Tuesday Feb 01, 2022
Tuesday Feb 01, 2022
On Monday the UAE announced it will introduce a new federal corporate tax on business profits in a landmark move that will reshape the economic landscape.
Co-hosts Mustafa Alrawi and Kelsey Warner answer the basics of how it will work, why now and what to expect when the tax goes into effect on June 1, 2023.
Later, they are joined by Anurag Chaturvedi, chartered accountant and chief executive of the Chartered House Tax Consultancy in Dubai.
He explains why the new tax regime is competitive for attracting multinationals and foreign direct investment, what consumers can expect and how businesses should be preparing.
In this episode:
Why is it happening now? (7m 04s)
How will this impact the UAE? (14m 32s)
The preparations a business needs to undertake (22m 21s)
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Thursday Jan 27, 2022
Thursday Jan 27, 2022
Web3 is the next generation of the internet.
Though it is difficult to understand and seemingly easy to dismiss, the advent of a decentralised internet demands our attention as it is a fundamental shift away from how we use the web today.
So says Noor Sweid, a veteran venture capitalist in Dubai who has been tracking the rise of the technology and eyeing opportunities.
She joins Kelsey Warner this week to explain her current thinking on Web3 and what to expect.
Ms Sweid is the founder and general partner of Global Ventures, an emerging markets venture capital firm backed by some of the world’s best-known investors such as General Atlantic and Capria. Global Ventures will shortly close its second fund and has now invested in more than 40 companies including Kitopi, Mumzworld and Red Sea Farms.
In this episode:
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Tuesday Jan 18, 2022
Tuesday Jan 18, 2022
With Abu Dhabi Sustainability Week and the World Future Energy Summit under way in the UAE, the path to net zero is becoming clearer with an energy mix of hydrogen, nuclear and renewables alongside innovations such as carbon capture and battery storage.
Co-hosts Mustafa Alrawi and Kelsey Warner discuss the latest developments and then, Kelsey interviews The National's energy contributor Robin Mills in this bonus episode of Business Extra.
They discuss Adnoc's business continuity response to the Houthi militia's Monday attack, the challenges that remain for sustainable fuels and how record-high oil prices influences net zero ambitions.
In this episode:
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Monday Jan 17, 2022
Monday Jan 17, 2022
This is the decade of ‘talentism’ rather than capitalism, the World Economic Forum’s president said as it begins a week of high-level online meetings to address climate action, the pandemic and the economic recovery.
Borge Brende, a former Norwegian foreign minister, tells the Business Extra podcast that the success of a business is now also being measured by its ability to recruit and develop young talent.
In this episode:
Could Covid disruption offer opportunity? (3m 00s)
Private and public sectors being brought together (4m 35s)
Companies taking more responsibility towards customers, society and the environment (7m 03s)
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