Over the past five years, companies in the region have come to terms with the fact that they must build strong digital strategies and transform the way they do business, or stand to lose business.
This mounting interest can be seen across sectors — from the banks that are releasing mobile apps and rushing to create communities on social media to retailers that are building out strong e-commerce platforms to advertising agencies that are acquiring or establishing new digital divisions.
The Middle East and North Africa (Mena) digital market is also seeing increasing interest from international powerhouses, all looking to establish a foothold in the region.
In the past 12 months, we've seen PayPal, LinkedIn and Facebook set up offices in Dubai. We've also seen the entrance of other Asian players, such as Yemeksepeti, Turkey's leading online food delivery company, which recently raised US$44 million and opened in Dubai as FoodOnClick. Similarly, India's leading restaurant review website, Zomato, started operating in Doha and Dubai just a few months ago.
The e-commerce opportunity in Mena alone could be as large as $15 billion by 2015, with companies such as MarkaVIP, Namshi and Souq raising tens of millions of dollars in investment to scale their operations and take advantage of this massive market potential.
This rapid growth has, of course, stimulated interest in digital start-ups across the board, with everyone trying to capture a piece of the action. Successful businessmen, from traditional sectors such as finance and real estate development, are getting involved with angel investing. New angel investor networks are appearing, including Tenmou in Bahrain or Oqal and Serb in Saudi Arabia.
Successful start-up accelerators are expanding, among them is Cairo-based Flat6Labs, which recently established a presence in Jeddah in partnership with Qotuf.
Co-working spaces are popping up across Mena: Cloud 5 and BDD in Beirut, The District in Cairo, MAKE Business Hub in Dubai and Zee Launch Pad in Amman just to name a few.
We've also seen major telecom operators and media companies establish investment arms and take a stake in this rapidly growing sector: MBC Ventures, STC Ventures and Vodafone Egypt's Xone have all been actively making investments.
Finally, we're seeing established professionals, with five to 10 or more years of business experience, leaving their corporate careers to become internet entrepreneurs: ex-consultants and bankers, with the skills, relationships, and financial resources that give them a much better chance of building successful online businesses.
Given all of these rapid transformations, if you haven't figured out your transition to digital, now is the time.
Omar Christidis is the founder and chief executive of ArabNet, which organises conferences for the digital sector
Our legal consultant
Name: Hassan Mohsen Elhais
Position: legal consultant with Al Rowaad Advocates and Legal Consultants.
In-demand jobs and monthly salaries
- Technology expert in robotics and automation: Dh20,000 to Dh40,000
- Energy engineer: Dh25,000 to Dh30,000
- Production engineer: Dh30,000 to Dh40,000
- Data-driven supply chain management professional: Dh30,000 to Dh50,000
- HR leader: Dh40,000 to Dh60,000
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- Project manager: Dh55,000 to Dh65,000
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- Senior drilling engineer: Dh38,000 to Dh46,000
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- Senior maintenance engineer: Dh22,000 to Dh34,000
- Field engineer: Dh6,500 to Dh7,500
- Field supervisor: Dh9,000 to Dh12,000
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UAE currency: the story behind the money in your pockets
The%20BaaS%20ecosystem
%3Cp%3EThe%20BaaS%20value%20chain%20consists%20of%20four%20key%20players%3A%3C%2Fp%3E%0A%3Cp%3E%3Cstrong%3EConsumers%3A%3C%2Fstrong%3E%20End-users%20of%20the%20financial%20product%20delivered%3C%2Fp%3E%0A%3Cp%3E%3Cstrong%3EDistributors%3A%3C%2Fstrong%3E%20Also%20known%20as%20embedders%2C%20these%20are%20the%20firms%20that%20embed%20baking%20services%20directly%20into%20their%20existing%20customer%20journeys%3C%2Fp%3E%0A%3Cp%3E%3Cstrong%3EEnablers%3A%3C%2Fstrong%3E%20Usually%20Big%20Tech%20or%20FinTech%20companies%20that%20help%20embed%20financial%20services%20into%20third-party%20platforms%3C%2Fp%3E%0A%3Cp%3E%3Cstrong%3EProviders%3A%3C%2Fstrong%3E%20Financial%20institutions%20holding%20a%20banking%20licence%20and%20offering%20regulated%20products%3C%2Fp%3E%0A
Killing of Qassem Suleimani
Asia Cup Qualifier
Final
UAE v Hong Kong
Live on OSN Cricket HD. Coverage starts at 5.30am
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Specs
Engine: 51.5kW electric motor
Range: 400km
Power: 134bhp
Torque: 175Nm
Price: From Dh98,800
Available: Now
Mumbai Indians 213/6 (20 ov)
Royal Challengers Bangalore 167/8 (20 ov)
The specs
Engine: Long-range single or dual motor with 200kW or 400kW battery
Transmission: Single-speed automatic
Max touring range: 620km / 590km
Price: From Dh250,000 (estimated)
First Person
Richard Flanagan
Chatto & Windus
Infiniti QX80 specs
Engine: twin-turbocharged 3.5-liter V6
Power: 450hp
Torque: 700Nm
Price: From Dh450,000, Autograph model from Dh510,000
Available: Now
Company profile
Name: Infinite8
Based: Dubai
Launch year: 2017
Number of employees: 90
Sector: Online gaming industry
Funding: $1.2m from a UAE angel investor
FIXTURES
All times UAE ( 4 GMT)
Friday
Saint-Etienne v Montpellier (10.45pm)
Saturday
Monaco v Caen (7pm)
Amiens v Bordeaux (10pm)
Angers v Toulouse (10pm)
Metz v Dijon (10pm)
Nantes v Guingamp (10pm)
Rennes v Lille (10pm)
Sunday
Nice v Strasbourg (5pm)
Troyes v Lyon (7pm)
Marseille v Paris Saint-Germain (11pm)
MATCH INFO
Manchester City 0
Wolves 2 (Traore 80', 90 4')
Volvo ES90 Specs
Engine: Electric single motor (96kW), twin motor (106kW) and twin motor performance (106kW)
Power: 333hp, 449hp, 680hp
Torque: 480Nm, 670Nm, 870Nm
On sale: Later in 2025 or early 2026, depending on region
Price: Exact regional pricing TBA
The National's picks
4.35pm: Tilal Al Khalediah
5.10pm: Continous
5.45pm: Raging Torrent
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7pm: Flood Zone
7.40pm: Straight No Chaser
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9.30pm: Forever Young
A cryptocurrency primer for beginners
Cryptocurrency Investing for Dummies – by Kiana Danial
There are several primers for investing in cryptocurrencies available online, including e-books written by people whose credentials fall apart on the second page of your preferred search engine.
Ms Danial is a finance coach and former currency analyst who writes for Nasdaq. Her broad-strokes primer (2019) breaks down investing in cryptocurrency into baby steps, while explaining the terms and technologies involved.
Although cryptocurrencies are a fast evolving world, this book offers a good insight into the game as well as providing some basic tips, strategies and warning signs.
Begin your cryptocurrency journey here.
Available at Magrudy’s , Dh104
Sole survivors
- Cecelia Crocker was on board Northwest Airlines Flight 255 in 1987 when it crashed in Detroit, killing 154 people, including her parents and brother. The plane had hit a light pole on take off
- George Lamson Jr, from Minnesota, was on a Galaxy Airlines flight that crashed in Reno in 1985, killing 68 people. His entire seat was launched out of the plane
- Bahia Bakari, then 12, survived when a Yemenia Airways flight crashed near the Comoros in 2009, killing 152. She was found clinging to wreckage after floating in the ocean for 13 hours.
- Jim Polehinke was the co-pilot and sole survivor of a 2006 Comair flight that crashed in Lexington, Kentucky, killing 49.
The%20Kitchen
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ELIO
Starring: Yonas Kibreab, Zoe Saldana, Brad Garrett
Directors: Madeline Sharafian, Domee Shi, Adrian Molina
Rating: 4/5
Results
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