Business Extra

How Adnoc L&S became a global logistics power

This episode was produced in partnership with the Adnoc Group

Capt Abdulkareem Al Masabi, chief executive of Adnoc Logistics & Services, joins this episode of Business Extra to explore the rise of the UAE’s largest integrated maritime logistics company.

Now ranked as the second-largest player in global energy logistics, Adnoc L&S has expanded its role on the world stage with a combination of strategic foresight and resilient leadership.

Capt Al Masabi explains how the company has navigated market volatility and geopolitical uncertainty to complete a record IPO. He also outlines the long-term thinking behind its $10 billion fleet expansion and how securing $26 billion in long-term contracts is helping cement the UAE’s place in the energy logistics value chain.

Why more wealth is leaving the UK and landing in the UAE

A quiet transformation is reshaping the global wealth map. High net-worth individuals are moving their assets from the UK to the UAE.

The Revolut co-founder Nikolai Stronsky's recent change of tax residency from the UK to the UAE reflects a much broader trend. Higher taxes, the end of the UK’s non-dom regime, and general regulatory uncertainty are pushing wealthy people to look for stability, predictability and a global lifestyle.

In contrast, the UAE is offering zero income tax, long-term residency, world-class infrastructure and an easy environment in which to do business.

In this episode of Business Extra, host Salim Essaid explores what’s behind the growing exodus of capital and talent from the UK and why the UAE is increasingly emerging as the destination of choice for wealth migration.

He speaks to Philippe Amarante, managing partner at Henley & Partners Middle East, on the sidelines of the Abu Dhabi Investment Forum in London. He breaks down what is causing the UK to lose more millionaires and what wealthy people are really looking for when deciding where to base their lives and capital.

Then, we hear from Khalifa AlMahmoud, director of investor attraction at the Abu Dhabi Investment Office. He outlines why the emirate’s mix of tax benefits, education opportunities and global accessibility makes it a long-term contender for global private capital.

What can Donald Trump’s Gaza economic plan offer without Palestinian sovereignty?

US President Donald Trump's 20-point plan for Gaza peace promises investment corridors and special economic zones. But without sovereign control, how can the Palestinian economy survive?

In Palestine, everything from the movement of goods to collecting taxes depends on approval from the Israeli government. The result is an economy that functions but is fundamentally constrained. It grows, but only within parameters set by an external power.

In this episode of Business Extra, host Salim Essaid delves into one of the world’s most complex economic realities, examining what doing business looks like under constraint, how aid and donor priorities are often misaligned, and why real growth requires more than money.

Joining the conversation is Raja Khalidi, director general of the Palestine Economic Policy Research Institute and a veteran of more than 30 years at the UN Conference on Trade and Development.

Together they explore the broader question of whether any international economic plan can succeed if it does not address the underlying structures of occupation.

TikTok's new owners and what is at stake

As TikTok faces a high-stakes restructuring to divest from its Chinese ownership, a new deal is emerging.

Major US players including Oracle and Silver Lake are in the mix, along with MGX, a UAE-based company that could become one of the few overseas owners of the platform’s American operations.

This is more than a business deal. It determines who will shape the minds of users on one of the most viewed social media platforms in the world.

In this episode of Business Extra, host Salim Essaid looks at the size of the deal, the level of control shareholders have over content and what TikTok might look like if influenced by a Gulf-based owner.

The episode also examines how algorithm access, content moderation and ownership dynamics tie into global soft power, and how much that influence really matters.

Beyond Carrefour: Why some global brands are losing ground in the Middle East

The announcement that Carrefour has shut stores in Kuwait, Bahrain and other countries made headlines across the region. But behind the immediate news lies a bigger story that international retail giants are struggling to keep Middle East consumers interested.

Consumers are increasingly turning their backs on big-name internationals and favouring local brands, home-grown experiences and practices that resonate with their regional identity. This is not necessarily a rejection of global brands but instead it is to meet customers' needs and values.

In this episode of Business Extra, host Salim Essaid digs into the shift, which is seeing global names starting to fade from store shelves, and asks how far it goes.

We hear insights from Aarti Nagraj, deputy business editor at The National, and John E Katsos, professor of management, strategy and entrepreneurship at the American University of Sharjah.

How Fed's interest rates decision affects economic policies and consumers in the Gulf

It’s a big week for global economies tied to the dollar with the US Federal Reserve widely expected to cut interest rates at its meeting.

Interest rates are a signal of how the Fed views the health of the economy and where it thinks things are heading. The decision heavily affects the economies of Gulf countries such as the Saudi Arabia, the UAE and Bahrain, whose currencies are tied to the dollar.

It also directly affects consumers. For example, a cut could make it cheaper to borrow to buy a car or a home, and to use your credit card, but may also lower returns on your savings.

In this week's Business Extra, host Salim Essaid is joined by James Swanston, a senior Middle East and North Africa economist at Capital Economics, to explain how the Fed's decision on interest rates could ripple through the region’s economies.

Middle East internet cables, the 'very vulnerable' communication corridor

People across the UAE and the region have noticed web pages loading more slowly, shows taking longer to stream and Wi-Fi going in and out.

This is because the undersea cables that support all those things have been damaged.

In this case, we’re looking at cuts to cables that lie at the bottom of the Red Sea. Around the globe, such cables run along seabeds and are the very foundation of internet connectivity.

Depending on where in the world you are, you might have a different set of these cables to thank for your ability to go online.

On this episode of Business Extra, host Salim A Essaid discusses what exactly makes this incident so critical, what’s next, and how it all comes back to the web user.

Why some companies have suffered 'zero returns' from AI investments – and who got it right

Despite billions being spent over the past few years on artificial intelligence investments, a recent MIT Media Lab report found 95 per cent of organisations have produced zero returns so far.

But is that really the case for companies who are offering AI solutions? How are those in the Middle East performing?

In this episode of the Business Extra podcast, host Salim Essaid is joined by Mohammad Abu Sheikh, founder and chief executive of CNTXT AI, a UAE-based data and AI solutions company.

Later, he is joined by Amit Joshi, a professor of AI, analytics and marketing at the IMD Business School to look at the bigger picture and the disconnect between implementing AI and profit.

And to explore the impact of this on hiring AI specialists and attracting talent, Dana Alomar, The National's future editor, joins the conversation.

What will Syria’s revalued currency mean for its economy?

Syria’s central bank has announced plans for a currency overhaul that will involve eliminating two zeros from its pound and printing new banknotes.

The Syrian pound has lost more than 99 per cent of its value since the start of the civil war in 2011, and economists are warning that a new currency means little without real policy reform.

In this week’s episode of Business Extra, host Salim Essaid looks at Syria's move, considers what it means for the economy and questions whether it will work.

He is joined by Hani Abuagla, senior market analyst at XTB Mena in the UAE, and The National’s Senior Business Reporter Fareed Rahman.

What's behind US-UAE nuclear partnership?

Nuclear energy can be a flashpoint for tension in the Middle East.
Now, though, it's taking new light.

A handful of Gulf countries, including the UAE, have signed new agreements with the US in the past few months – each nation with its own advantages and goals in the sector.

These agreements focus heavily on civilian nuclear energy. But they are also part of a broader goal to futureproof Gulf economies.

The Emirates Nuclear Energy Company, or ENEC, is the body responsible for all things nuclear in the UAE.

In July, it expanded an agreement with US nuclear power company Westinghouse. It designs and sells the AP1000 – an advanced reactor known for its good economics.

This partnership, according to a statement from ENEC, will entail: “Efforts to accelerate the deployment of that AP1000 reactor, exploration of opportunities in US nuclear projects and quadruple nuclear capacity by 2050.”

On this episode of Business Extra, host Salim Essaid hears from Noam Raydan of the Washington Institute for Near East Policy to explore why momentum in the area of nuclear partnerships is building.