Business Extra

Abu Dhabi hosts the world’s military big guns

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.

The curious case of QuadrigaCX

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.

Adnoc and Saudi Arabia take centre stage

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.

Re-shaping globalisation at this year's World Economics Forum in Davos

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.

Is the worst over for investors?

Sentiment among investors appears to have rebounded following a bleak end to last year, despite global issues such as the US government shutdown, Washington’s trade battle with China and disappointing data from the world’s second-largest economy. All that plus the ongoing Brexit saga do have the potential to cause ripples – or worse.

Bucking the global trend, however, it seems the UAE is a bright spot in an otherwise gloomy picture. 

In this week’s Business Extra Podcast, Assistant Business Editor Chris Nelson talks to Tim Fox, chief economist and head of research at Emirates NBD, and a regular columnist for The National, about how the global and regional investment outlook might be affected near-term.

Is the US economy bound for recession?

US stocks have rebounded from an end-of-year lull, but many are forecasting a recession on the horizon. Complicating the US outlook is President Donald Trump's ongoing government shutdown and frayed trade relations with China.

What are all the factors driving a negative US outlook? Economic analyst Omar Al-Ubaydli gives his take to host Chris Nelson in this week's episode of the Business Extra podcast. Listen here:

Also discussed in this episode:

• We speak with The National's Kelsey Warner about the positives coming out of the region. Adnoc is among the top 10 most influential companies and organisations in the energy sector, the only company in the Middle East with this distinction. Adnoc also expects to increase unconventional gas discoveries.

• The UAE economy is expected to the buck the World Bank's pessimistic global GDP outlook. Is this driven by the optimistic country's outlook in the non-oil economy?

• Bahrain introduces VAT. How big an impact will this have on the country's economy?

How Africa will shape and be shaped by aviation

A fast-growing Africa could change the face of the aviation industry and the continent’s rising demand for aviation could also lift Africa’s economic prospects in the future.

Hassan El-Houry, Group CEO of National Aviation Services and co-author of Fly Africa, tells The National’s Mustafa Alrawi about the African aviation sector and discusses the future of tourism in and out of the continent.

Celebrating 100 episodes with 2018 highlights

To mark the occasion of both our 100th Business Extra podcast and the end of 2018, we are taking a look back at a few of our favourite interviews from the past year.

In this episode:

• Saygin Yalcin is the Founder and CEO of SellAnyCar.com as well as other start-ups. He sat with our Chris Nelson in July, and talked about the challenges he faced setting up new businesses in the UAE, but how the government is doing the right thing for business by granting 10-year visas. More: Who qualifies for 10-year visas?

• In March, the Business Extra podcast did a two-part report on the status of the healthcare sector in the UAE. Host Mustafa Alrawi spoke with Foundation Holdings' Abhishek Sharma about the growth of the healthcare industry in the UAE, especially when compared to other developed nations. More: Healthcare in the UAE Part 1 | Part 2

• One of the biggest business stories of the year related to an ongoing trade war between the US and China. In March we spoke to trade experts about the matter, including Taina Sateri, Trade Counsellor, European Delegation in Abu Dhabi. She spoke about how the situation has a huge effect on the EU and global markets. More: Should a China-US trade war worry UAE investors?

• In October, it was announced that US oil services provider Baker Hughes will pay $550 million (Dh2.02 billion) for a 5 per cent stake in Adnoc’s drilling subsidiary. We spoke to Abdulmunim Al Kindy, head of upstream at the Abu Dhabi National Oil Company, to find out how the partnership can drive higher profitability and new opportunities for the sector. More: Partnership could spur boom for UAE energy industry

• And we looked at the shifting demographics in the world’s biggest economy. Over the past decade, 86 per cent of new businesses in the United States have been started by Latinos, with the women among them being the biggest drivers of that trend. Claudia Romo Edelman told us in November what the business community should know about these trends. More: The advocate championing Hispanic contributions in the US

Saudi Arabia's record budget for 2019

Host Mustafa Alrawi, The National's Assistant Editor in Chief and Sarmad Khan, Company & Markets Editor, discuss what the outlook will be for the biggest Arab economy after it forecast spending in 2019 to reach 1.106 trillion riyals (Dh1.083tn), up 7 per cent from the finance ministry’s figure of 1.030tn riyals for 2018.

Also in this episode, Assistant Business Editor Chris Nelson talks about the realities of the "gig economy" with Greg Hucker, the founder and chief executive of Maharati in Dubai. 

Listen here: 

More Business Extra:

Biz Extra

Risk on? What UK uncertainty means for investors

There is uncertainty in the UK, across Europe there is leadership upheaval, in India the Central Bank governor has quit and US President Donald Trump oscillates on a trade war with China. How is global political uncertainty affecting markets, and how should investors react?

Ahead of a crucial vote for the British Prime Minister Theresa May on her political future, hosts Mustafa Alrawi, Assistant Editor-in-Chief and Chris Nelson, Assistant Business Editor talk to Gaurav Kashyap, market strategist at Equiti Global Markets and a regular contributor for The National, on the outlook for markets and investment going into 2019 in the latest episode of the Business Extra podcast.