Business Extra

Why rent prices in Dubai have been falling

According to brokers, Dubai rental rates continued the downward trend experienced during 2018. Asteco noted “an increasing number of price-conscious tenants … irrespective of location, size or quality".

However, year-on-year rents are down in most categories not just luxury. What is driving the prices to fall? Hosts Mustafa Alrawi, Assistant Editor in Chief and Chris Nelson, Assistant Business Editor delve deeper.

In this episode:

• A round-up of the business news you need know from thenational.ae. (0.50)
• How rents have fared in the different areas of Dubai this year. (1.52)
• The latest on US-China trade war. (7.39)
• And we speak with Jennifer Gnana, The National’s energy correspondent about the upcoming Opec meeting in Saudi Arabia amid a week in which part of the Kingdom’s oil installations came under attack. (12.41)

Abraaj: a cautionary tale

The National has been covering the Abraaj scandal from New York, London and Abu Dhabi as our editorial team brings you the key developments.

In this episode, host Mustafa Alrawi, Assistant Editor in Chief, talks to Massoud Derhally, The National’s Business Editor who himself has been producing some quite compelling investigative journalism into what happened at the failed private equity firm, founded by Arif Naqvi

He explains that in September 2017, about five months before Abraaj collapsed, two whistleblower emails warned investors not to invest in a $6 billion fund.

Also in this episode, Assistant Business Editor Kelsey Warner speaks to Mahmoud Adi, the head of Hub71. She hears about what he hopes for the new tech start-up centre in Abu Dhabi and what investors and entrepreneurs can expect from the space, and what he’s learned as a founder and VC himself in the UAE.

Read more about today's topics at thenational.ae:

Abraaj whistleblower emails warned investors ahead of scandal and collapse of firm

Abraaj founder Arif Naqvi remains in jail after not posting £15 million bail

Abu Dhabi starts Dh535m fund to support start-ups and venture capitalists

Abu Dhabi Government sets up tech hub luring SoftBank, Amazon and Microsoft

A hyper week for aviation and travel in Dubai

Host Mustafa Alrawi, Assistant Editor in Chief, talks about the latest news from Arabian Travel Market. Deena Kamel, our aviation correspondent, discusses Sheikh Ahmed bin Saeed of Emirates and FlyDubai offering some home truths for Boeing over the 737 Max which has been grounded following deadly crashes. Business correspondent Sarah Townsend shares how leading hotel operators including Jumeirah, Rotana and Hilton have an upbeat outlook.

Also Chris Nelson, Assistant Business Editor, speaks to CASS Business School’s Scott Moeller about mergers and acquisitions, what they mean for companies and shareholders, and the collapsed Deutsche Bank-Commerzbank merger negotiations. 

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Huawei and the promise of 5G

The promise of lightning-fast internet speeds and a hyper-connected world that will spawn a new era of automation and AI is at the heart of the promise of 5G technology. Huawei, the world’s largest telecoms equipment maker, is both building this bright future and being accused of facilitating the darker side of this technology.

The United States and allies such as the United Kingdom are determined to prevent Huawei from being part of the building of their respective 5G networks. They fear this will provide a gateway for Chinese security agencies to spy on them.

Huawei denies this is a legitimate concern and other nations in Europe, Asia and the Middle East – including the UAE – have given work to the firm. The company says its business outside of the US is not affected and is taking steps to seize other opportunities.

How much is this focus on Huawei part of the broader trade row? Are these concerns over Huawei about more than just politics? Should we fear Chinese technological hegemony anymore than we should worry about US dominance? Also, is the promise of 5G real enough that it won’t matter which country dominates the technology if all have access to it? And what does that mean for investors in this region?

In this week's episode of the Business Extra podcast, host Mustafa Alrawi, The National's Assistant Editor in Chief, explores these themes with Dr John Rutledge, Chief Investment Officer at global investment firm Safanad. Dr Rutledge has been an economic advisor to the Reagan and Bush administrations and is advising the current Trump White House on recent China trade negotiations.

Also in this episode, The National's Chris Nelson and Jennifer Gnana join to run through top news stories including the latest Abraaj arrest and the US decision not to renew sanctions waivers on Iranian oil imports for eight countries and what that means for energy markets and global economic growth.

'Dr Doom' Nouriel Roubini upbeat on global outlook

Nouriel Roubini is the professor of economics at NYU’s Stern School of Business. He is also chief executive of Roubini Macro Associates, and he became famous after his prediction of the financial crisis, several years before it happened, turned out to be correct. For this, he has sometimes been referred to as "Dr Doom" in the media. He is also a very outspoken critic of Bitcoin – which he has called the mother of all scams.

Host Mustafa Alrawi, The National's Assistant Editor in Chief caught up with him on the sidelines of Mediaquest’s Top CEO forum in Bahrain and at least in terms of the global economy, he wasn’t making any gloomy forecasts. Bitcoin not so much …

Also, professor Roubini explains the link between rising intolerance of minorities and populism.

What to expect at this year's CityScape Abu Dhabi

CityScape Abu Dhabi, the UAE’s most prestigious property exhibition, takes place next week at the Abu Dhabi National Exhibition Centre. Running from Tuesday to Thursday, this year’s event comes at a time when the local and regional real estate market is on the up. The show draws home-based, regional and global developers, investors and real estate asset managers eager to market their latest projects and it serves as a snapshot of the property sector both here and internationally.

In this week’s Business Extra Podcast, host Chris Nelson is joined by The National’s Business Reporter Sarah Townsend to take a look ahead to CityScape Abu Dhabi. We also talk to Henry Bott, portfolio manager at Swire Properties, the Hong Kong-based developer behind the huge Taikoo Place commercial building complex located in the Island-city’s Quarry Bay area.

The dietary, ethical and economic benefits of going meat-free

Agriculture is one of the primary drivers of climate change, estimated globally at making up 14 to 15 per cent of all greenhouse gas emissions, half of which is generated directly by livestock, says University of California, Berkley.

US science magazine Scientific American, meanwhile, says producing a half-pound hamburger patty the size of two decks of cards releases as much greenhouse gas into the atmosphere as driving a 1.3 tonne car nearly 15km.

But the tide is turning in favour of meat-free products for a variety of reasons.

In this episode of the Business Extra podcast, Chris Nelson talks to Jacek Plewa, general manager of Global Food Industries, part of the major UAE conglomerate Albatha Holding, about how the company is addressing this growing demand.

What the Uber-Careem deal means for tech in the Middle East

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?

Dr Reem Bint Mansour Al-Saud on gender equality in the workforce

Dr Reem Bint Mansour Al-Saud is a member of Saudi Arabia's permanent delegation to the UN in New York, and she is a passionate advocate of the UN's Sustainable Development Goals. Of particular interest is goal number 5 — gender equality. 

Dr Reem joined The National's Chris Nelson over the phone from her New York base to discuss gender equality in the work force, and how the UN and it's sustainable development goals can help shape the economic and commercial landscape in the future.

What the Ethiopian Airlines tragedy means for confidence in the Boeing 737 Max 8

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.