Business Extra

Why Qatar is breaking ranks with Opec

Qatar breaks ranks as it says it will withdraw from the 15-member Organisation of the Petroleum Exporting Countries on January 1. Why now, and what are the ramifications? We discuss in this episode of The Business Extra podcast. Listen here:

Mustafa Alrawi, The National's Assistant Editor-in-Chief, and regular contributor Robin Mills, the CEO of Qamar Energy, discuss the different reasons behind the move including changing dynamics for gas markets and the political rift with its Gulf neighbours. Also, they look at how Opec may respond after losing one of its Middle East members for the first time.

Emaar checks out of five Dubai hotels

Emaar Hospitality is taking a new approach by selling five of its UAE hotels to Abu Dhabi National Hotels. While the value of the deal was not disclosed, Dubai-based Emaar said moving to an asset-light model will enable the business to unlock its potential. The hotels are Address Dubai Mall, Address Boulevard, Address Dubai Marina, Vida Downtown and Manzil Downtown. 

The National’s Mustafa Alrawi and Chris Nelson discuss the possible reasons behind the move, which will likely see Emaar focus on the issue of management and hotel management contracts like other global brands such as Hilton and Marriott. Is it a good move for both sides?

Also in this episode

• John Lacey, the founder and chief executive of Dubai’s Power League Gaming, or PLG, talks to Chris about the wonderful world of professional video-gaming ahead of the e-Sports Grand Slam world championship event in Abu Dhabi next month – a first for the UAE and the wider Middle East.

• We discuss the allegations that have led to Carlos Ghosn, the former chief of Nissan and Mitsubishi, being imprisoned in a Tokyo jail since November 19.

• This year's Abu Dhabi Grand Prix seemed much busier this year. What brought people to the track?

The one thing you need to know about the US economy

Over the past decade, 85 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. That data comes a study by Zeno Group and the We Are All Human Foundation, and we talk to their founder in this week's episode of the Business Extra podcast. 

Claudia Romo Edelman is an advocate for equality, diversity and inclusion, as well as co-host of the Global Goalscast focused on the UN's Sustainable Development Goals.

Edelman explains to The National's Mustafa Alrawi that part of the reason statistics like the one above could be surprising to business people interested in the American market, is because Hispanic representation in media and politics does not match that of the demographic's economic impact. She hopes to use her platform to change that, and help expand Hispanic representation and inclusion.

Adipec 2018: Breaking down the deals and details from the oil and gas exhibition

Optimism was high at this year's Adipec gathering in Abu Dhabi. Is the positive sentiment around the oil and gas sectors warranted? Mustafa Alrawi and Chris Nelson discuss the numerous headlines emerging from Adipic this week and what it all means for the wider energy sector in this episode of The Business Extra podcast.

Also in this episode, Jennifer Gnana speaks with Ahmed Attiga, chief executive of  Arab Petroleum Investments Corporation (Apicorp), about the political and investment landscapes for oil in the Middle East and the wider energy sector. The outlook for renewables is also shifting as multi-lateral organisations increasingly look to finance the development of clean-energy capacity in the region to meet growing demand.

Adnoc marks another first for UAE

In this episode, host Chris Nelson talks to The National’s Deputy Business Editor Dania Saadi about Abu Dhabi National Oil Company using hydraulic fracturing.

Adnoc’s announcement that together with US firm Baker Hughes it is using hydraulic fracturing technology onshore - for the first time in the Middle East - to assess the potential of gas reserves in the western Al Dhafra region of the emirate.

We also take a look at the UAE Central Bank’s IMF-beating forecast for economic growth next year and then tech entrepreneurs Omar Darwish and William gardener share their insights into the rapidly evolving world of digital marketing.

The evolving tech ecosystem in the UAE

2017 was seen as a watershed for the tech ecosystem in the UAE and wider Gulf region; Amazon bought Souq.com, more than half a billion dollars was invested into hundreds of start-ups and the entrepreneurial fire was truly stoked.

November will feature a number of events and conferences drawing in regional and international VCs, other types of investors and start-ups together, to take stock of where we have arrived and what the future might hold for the sector.

Host Assistant Editor in Chief, Mustafa Alrawi speaks to Bana Shomali, founder of home services market place Servicemarket.com which recently raised $4 million in its latest funding round about why the investment base is broadening and what it takes to rapidly scale a business.

The Saudi investment landscape

Russian, French and Chinese companies have grabbed the momentum from the US for the opportunities created by the kingdom's Vision 2030.

With the broader political picture unsettled for Saudi Arabia, the landmark Future Investment Initiative, being held in Riyadh, has been dominated by non-US institutions, funds and companies. Will this alter both the inbound and outbound investment priorities in the kingdom? Hosts Mustafa Alrawi, Assistant Editor in Chief and Chris Nelson, Assistant Business Editor discuss the evolving investment landscape. Sarmad Khan, Senior Business Correspondent, reports from the Saudi capital from the FII. Mustafa and Chris also assess the viability of an electric future for the aviation sector.

Abraaj latest, the UAE's economic outlook, and Fadi AlAwami's advice to entrepreneurs

Host Mustafa Alrawi and Assistant Business Editors Chris Nelson and Dania Saadi discuss Agility's interest in Abraaj's assets, how the UAE is the Middle East's most competitive economy and what impact rising interest rates may have on the economic outlook.

Sentiment outside of the Gulf has been rocked of late but how justified is this given more positive fundamentals like higher oil prices? The team discuss this and more. 

We also have a discussion with Saudi entrepreneur and SME consultant Fadi AlAwami, who provides useful tips for prospective start-ups in the region.

What the Baker Hughes-Adnoc partnership means

Following the news 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, Mustafa Alrawi speaks 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.  Mustafa and Assistant Business Editor Chris Nelson discuss what this could mean for the wider UAE economy.

Cityscape Dubai shows positive signs, and Elon Musk gets a slap on the wrist

Investors and developers flocked to this year's Cityscape Dubai compared to last year. Does that portend an uptick in the UAE's property market ahead?

The National's Sarah Townsend reports on the scene from the exhibition with host Mustafa Alrawi in this week's episode of the Business Extra podcast.

Also, we could not let this week's Elon Musk news come and go without comment. The Tesla mogul will cede his role as chairman of the electric carmaker and pay a $20 million (Dh73.4m) fine to settle fraud charges, in addition to another $20 million fine for the company. What's next for the company and its most famous face?  Kelsey Warner, Assistant Business Editor, gives her take.