Business Extra

Emirates and Etihad: What does the future hold?

While the UAE's aviation giants, Etihad and Emirates, have both denied a Bloomberg report that the latter was considering a takeover of the former, it is worth speculating what the future holds. Can a deal happen, and how would that shape the future of aviation in the region? Host Mustafa Alrawi looks at the changing aviation landscape in this week's episode of the Business Extra podcast.

Also in this episode:

• Abu Dhabi National Oil Company in July awarded one of the world’s largest seismic surveys for hydrocarbon assets to a unit of China National Petroleum Corporation. The multibillion-dirham project is underway in the Abu Dhabi Dessert, where Karma Gurung visited earlier this week. What was the scene like in-person?

• Oil prices caught the crosshairs of President Trump's Twitter. From a joint meeting of Opec nations in Algiers earlier this week, the response was to stay the course, as oil prices are steadily on the rise.

Why Uber and Careem should stay in their own lanes

Ride-sharing app Careem has been one of the Middle East's most successful tech start-ups, and competitor Uber is now reportedly interested in an acquisition to widen its own presence in ther region. While it would likely be a multibillion-dollar windfall for Careem, would selling now be a shortsighted move for a company with so much potential?

Hosts Mustafa Alrawi and Chris Nelson discuss Careem's future in this week's episode of the Business Extra podcast.

Also in this episode:

• Tesla adds a criminal probe from the US Department of of Justice to its growing list of problems. Elon Musk's erratic behaviour and irresponsible tweets might have sunk his company.

• If Tesla does fail, where does that leave the electric-car industry?

• And we talk to Brian Finlay, President and CEO of Stimson Center, an American think tank which this week collaborated with UAE-based Trends Research & Advisory on a blueprint to grow renewable energy in the developing world.

People can't get enough of Apple

Despite ever-increasing prices and fierce competition, consumers flock to Apple's new products every year. Surely this year will be no different, and hosts Mustafa Alrawi and Chris Nelson assess the world's first trillion-dollar company as it unveils a new line of products in this week's Business Extra podcast.

Also in this episode:

• Saudi petrochemicals maker Sabic has growing ambitions in China, a sign of how some of the Kingdom's largest businesses are diversifying.

• Siemens is pinning its hopes to electric passenger jets in the hopes that hybrid-electric planes are the future of flight.

• And we have a chat with Emirati branding expert Kawthar Bin Sulayam, the founder and CEO of KBS Communications, who has helped with the branding efforts of the Dubai government and the Abu Dhabi Grand Prix.

ADCB merger would shake up banking sector; Oil prices rally

A potential merger between Abu Dhabi Commercial Bank, Union National Bank and Al Hilal would create one of the region's largest lenders. The news has already had positive effects on UNB's share prices, a sign that a merger would be a welcome change to the banking sector.

Host Mustafa Alrawi discuss the potential merger and more with Chris Nelson in this week's episode of the Business Extra podcast. 

• Also in this episode:

• Oil prices have rallied of late. Energy correspondent Jennifer Gnana tells us why, and gives us the latest news on the Saudi-Aramco IPO.

• Turkey's currency crisis shows no signs of improving. How will this effect markets in the region?

• And we assess Dyson's plans to enter the electric-vehicle game.

Malaysia develops for foreigners, then takes it away

In this week's episode of the Business Extra podcast: 

• Malaysian Prime Minister Mahathir Mohamad said on Monday he wanted to prevent foreigners from buying residential units in the $100 billion Forest City project, a setback for the Chinese developer Country Garden as it tries to revive faltering demand for the site. What is the rationale for the change in direction?

• Tesla Chief Executive Musk said late on Friday he would heed shareholder concerns and no longer pursue a $72 billion take-private deal. Musk's take-private plans for Tesla have evaporated, but the company's looming debt needs remain. How much is Musk's erratic behaviour hurting the company?

• Emirates is adding a fourth daily flight on its route from Dubai to Riyadh starting from September 1. From Sept 1 there will be 91 weekly flights to the kingdom.

• And we have a chat with Anna Skigin, who founded the company Frank Porter, which helps people in Dubai rent their apartments on AirBNB.

Greece is free from bailout but far from financial freedom

Greece is free of of its final bailout from the European Union, allowing Athens to borrow from financial markets for the first time since 2010. But the end of financial woe in Greece is far from over, as we discuss this week on the Business Extra podcast. 

Also in this episode:

• We analyse the move by Venezuela to devalue its currency the bolivar and launch a new one.

• Elon Musk continues to fall under the microscope with his erratic behaviour, leaving Tesla's investors to wonder what's next for the company.

• And host Chris Nelson interviews Maryam Amiri, a professional public speaker who specialises in large events and advising business professionals on their communication techniques.

Elon Musk's Twitter steers Tesla into trouble

In this week's Business Extra Chris Nelson and Andy Scott discuss Elon Musk's increasingly erratic behaviour. The maverick billlionaire and CEO of Tesla tweeted this week that he was considering taking his company private - a move that has caught the attention of the Securities and Exchange Commission.

The mercurial genius may have been the inspiration for Robert Downey Jr.'s Iron Man but right now he would do well to avoid the limelight. He tweeted that he planned take Tesla private at $420 a share, valuing the company around $72 billlion, a 20 per cent premium on the share price that day. 

As the car company has only posted two quarterly profits since its float eight years ago and last year lost over $2 billion it is not certain who has that much faith in Mr Musk.

The current currency volatility in emerging markets and the British pound are also under the microscope.

DP World's row with Djibouti will have far-reaching consequences

DP World is asserting the validity of a London arbitration court ruling in its favour against the government of Djibouti over the seizure of the Doraleh container terminal. This is a row that will have far-reaching consequences for investment in Africa and confidence in DP World's vision.

• Hosts Mustafa Alrawi and Chris Nelson discuss this and more in this week's Business Extra podcast. Also discussed in this episode:

• The first half of 2018 saw lots of activity in the downstream-energy sector. Jennifer Gnana helps us analyse these developments and how changing consumer habits could affect segments the energy industry.

• Enormous profits by Japanese company SoftBank seem to vindicate moves made by founder Masayoshi Son. His Vision Fund, set up last year, has grown SoftBank from a telecoms conglomerate to a holdings group with investments in the world’s most influential technology companies. What was Son's best deal?

• A recent survey finds many job-seekers fresh out of university have not received proper help with career advice before joining the job market. Our hosts have some pointers of our own.

The unravelling of Abraaj, plus summer spending tips and more

The fall from grace of private-equity firm Abraaj Group took a new turn this week as founder Arif Naqvi faces another criminal case surrounding a bounced cheque, this one for the sum of Dh798 million.  

For years, Abraaj projected a lavish and strong brand to the group's many high-profile investors. Now Naqvi and the group are under fire for being unable to pay for loans he had taken out to prop up the company. Will the Abraaj brand be able to recover?

Host Mustafa Alrawi discusses this and more in this week's Business Extra podcast.

Also discussed in this episode:

• The National's personal-finance writer Alice Haine gives tips to the many on holiday this summer who might be wondering how best to get the most out of their funds while abroad.

• Tourism numbers for Abu Dhabi showed growth over last year while Dubai's stayed flat, a sign of resilience for the UAE's tourism industry while at the same time global tourism numbers are mostly down.

• Apple's strong third-quarter numbers have the company on pace to become the world's first trillion-dollar company.

Earnings season: What do the region's Q2 profits tell us?

First Abu Dhabi Bank's second-quarter profits soared past expectations, as did those for many of the UAE's biggest banks. Could an uptick in the financial sector be a sign that the worst of the economic downturn is behind us?

Hosts Mustafa Alrawi and Chris Nelson discuss this and more in this week's Business Extra podcast. 

Also in this episode:

They discuss how the Apple X has not performed up to the same technological standards as current-generation devices from competitors. Will that affect sales?

How will this week's monumental peace talks between Ethiopia and Eritrea in Abu Dhabi affect trade and other economic sectors in the region?

And we have a conversation with Janardan Dalmia, the CEO of Trukkin, a commercial logistics start-up based in Dubai about. How has his company gained a foothold in the transport industry?