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10 months ago
The best places to work in Kuwait have been revealed, in a survey identifying top employers in the region. Great Place to Work has revealed the list of “Best Workplaces in Kuwait for the year 2024”. The list recognised 20 organisations across the country for creating outstanding workplace cultures, fostering employee engagement, satisfaction and productivity. Celebrating excellence in workplace culture and employee satisfaction, this prestigious ranking highlights the top companies that have demonstrated an unwavering commitment to creating a positive and inspiring work environment. From multinational corporations to local businesses, all industries were considered in this comprehensive evaluation, showcasing the diversity and vibrancy of the business landscape in these regions. Jules Youssef, Managing Director of Great Place to Work Middle East, said: “We are ecstatic to congratulate the exemplary organisations in Kuwait for being the Best Workplaces in 2024. “This achievement not only showcases their commitment to fostering a positive work culture but also contributes significantly to the overall business landscape. “These winning companies embody excellence, innovation and dedication, which undoubtedly lead to sustainable growth and prosperity in their industries.” Great Place to Work is a global research and management consultancy that recognises top employers in more than 60 countries […]
10 months ago
Dubai’s Airport Show 2024 will bring together leading figures from the booming global aviation industry. With the civil aviation industry almost fully recovered after the steepest fall in passenger numbers due to the 21st century’s second pandemic, airports across the world are bracing themselves to handle a big boom in air travel until 2030 by going in for expansions and redevelopments. The Middle East Aviation Market, valued at $60bn in 2023, is predicted to rise substantially until 2030. Airport Show DubaiAir connectivity in the Middle East had seen a 26 per cent-plus growth in 2022 compared to 2019. The Middle East’s airports are set to handle 1.1bn passengers by 2040, more than double the 2019 figure of 405 million passengers. They will be required to invest around $151bn in capacity expansion. The region, with more than 110 airports, is among the fastest-growing aviation markets in the world. Airport developers, officials, and suppliers worldwide will reach Dubai in mid-May 2024 to participate in the world’s largest annual event dedicated to the airport industry. The 23rd edition of the three-day B2B event at the Dubai World Trade Centre (DWTC) will have more than 150 exhibitors from more than 20 countries and 7,500 […]
10 months ago
Teens are becoming increasingly addicted to the gamification of stock and options trading, allowing them to buy and sell ‘meme’ stocks and trade zero-date options directly from their smartphones through well-known trading apps like Robinhood. A new study from Fidelity Investments, titled “2023 Teens and Money Study,” reveals more than half of the respondents (ages 13 to 17) received a smartphone around the age of 10. By eleven, they spoke with their parents about opening a brokerage or checking account. And why is that? Well, one word: gamification of trading apps. During Covid, for example, Robinhood experienced an unprecedented surge of young traders that entered the stock market casino. Thank the government-enforced lockdowns that kept everyone on their couches and the Federal Reserve’s monetary bazooka that led to the greatest stock market bubble ever. Everyone was a genius when stocks only went vertical. Until they don’t… In a separate report, The Wall Street Journal said custodial accounts for teenagers at Schwab reached 200,000 in 2022, an increase from around 120,000 in 2019. This number soared past 300,000 in 2023, partly due to Schwab’s acquisition of TD Ameritrade. Other brokerage firms such as Vanguard, Fidelity, and E*Trade by Morgan Stanley have also seen […]
10 months ago
Dubai’s growing food and beverage sector has witnessed notable growth in recent years as domestic and international investors gather for Gulfood. The Dubai International Chamber successfully hosted a business event on the sidelines of Gulfood, the world’s largest conference and exhibition dedicated to the food and beverage sector. The five-day event runs until February 23 at the Dubai World Trade Centre. According to data from Euromonitor, the UAE’s food and beverage sector generated $16.4 billion in retail sales, including fresh food and packaged food. Consumer spending on food via e-commerce platforms reached $1.1 billion in 2023 and is expected to increase at a Compound Annual Growth Rate (CAGR) of 9.5 percent between 2023 and 2027. According to data from FDI Intelligence, the sector in the emirate attracted new FDI worth $577 million from 2019 to 2023, which was made by 48 international companies from 23 countries. Mohammad Ali Rashed Lootah, President and CEO of Dubai Chambers, said: “Dubai is continuing to strengthen its position as a significant global hub for the world’s food and beverage trade, which creates promising opportunities for companies operating in the sector to expand and grow. “The sector is developing innovative solutions to contribute to global food security while […]
10 months ago
Can America hope to climb past its mountain of $34 trillion of federal debt? With the staggering weight of unfunded liabilities in vital entitlement programs like Social Security and Medicare reaching a staggering $212 trillion, any strategy for repayment is met with formidable obstacles. Our guest contributor examines these challenges and arrives at a sobering verdict: the magnitude of the debt renders the prospect of repayment virtually impossible. While clearing the debt may be beyond reach, the US can still take decisive action to rein in spending and prevent further exacerbation of its dire financial predicament. US fiscal realities are well known. Total federal debt outstanding has now reached $34 trillion, up from $98 billion in 1981, $5.67 trillion in 2000, $13.56 trillion in 2010, and $26.95 trillion in 2020. And at 120 percent of the US economy’s productive capacity (gross domestic product), the federal debt matches that at the end of World War II. That $34 trillion, when spelled out, is the number thirty-four followed by twelve (count ’em) zeros separated by four commas. So it looks like this, a lot of digits and commas for the human brain to comprehend: $34,000,000,000,000. These official debt figures do not even […]
10 months ago
MEFIC Capital has announced the establishment of the Saudi Film Fund, with a total capital of SR375 million, including a significant 40% investment from the Cultural Development Fund. This initiative highlights the burgeoning investment opportunities within the Kingdom’s film and media sector. Aimed at invigorating investment in the industry, the fund will provide essential financing for innovative content production and distribution infrastructure projects. The Saudi Film Fund represents the first collaborative investment by the Cultural Development Fund with MEFIC Capital, who will oversee the fund’s management. Roaa Media Ventures will act as the technical partner, aiming to foster partnerships with leading international studios and produce content that showcases Saudi culture and values. This strategic fund is a continuation of an agreement made during the Cannes International Film Festival last year between the Cultural Development Fund, MEFIC Capital, and Roaa Media Ventures. It signifies a substantial investment in the film industry and is part of the financing program launched by the Cultural Development Fund in 2023 under the IGNITE Digital Content Program. This program’s goal is to enhance the Kingdom’s digital content output. The Saudi film production market has seen remarkable growth, with an annual growth rate of over 25%, making […]
10 months ago
The average speed for internet connectivity at the Red Sea destination is 86 percent faster than the top-ranked city globally for December 2023, a recent report has confirmed. In their analysis, Ookla, a US-based company specializing in internet reliance testing and analysis, has verified that the average connectivity speed at the Red Sea destination, managed by Red Sea Global, peaked at 696.37 megabits per second in the second half of 2023. The group head of technology at Red Sea Global, Ahmed Al-Sohaily, that the availability of a robust digital infrastructure directly impacts the quality of life for visitors and residents. He said: “High-speed communication services is an indispensable necessity. Today’s travelers want to relax and disconnect, but at the same time, they want to stay connected with friends and family back home. Our gigabit 5G network allows guests to communicate with their loved ones and share their experiences in real-time.” The Speedtest Global Index by Ookla ranks mobile and fixed broadband availability rates globally by country and city. Al-Sohaily said: “Our gigabit 5G network ensures our ability to deliver seamless experiences, whether at our resorts, our airport, or while guests are out and about exploring the destination.” In December, testing […]
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