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HC expects the Central Bank of Egypt to keep interest rates unchanged

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Sahfy Sahfy
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HC: We believe that the MPC will opt to delay the cut until later in 2024
HC: We believe that the MPC will opt to delay the cut until later in 2024

Financials analyst and economist at HC, Heba Monir commented: “ Our comment: We expect urban inflation to decelerate to 24.9% y-o-y for August on a favourable base effect. However, we anticipate a 1.0% m-o-m increase on the recent energy and transportation cost hikes at the beginning of August. Egypt’s PMI index surpassed the 49.0’s level over the last three consecutive readings, coinciding with the deceleration in inflation. Egypt’s external position showed a stable outlook, as follows: (1) Egypt received USD820m from the IMF, representing the third tranche of its USD8.0bn EFF, (2) the banking sector’s net foreign assets (NFA) narrowed by USD1.27bn m-o-m to USD13.0bn in June from USD14.3bn in May, reversing a net foreign liability (NFL) position of USD27.0bn a year earlier. We attribute the m-o-m lower NFA to probably normalized FX inflows, (3) net international reserves (NIR) increased c33% y-o-y and 0.2% m-o-m to USD46.5bn in July, and deposits not included in the official reserves rose 2.11x y-o-y and 3.0% m-o-m to USD9.86bn in the same month, (4) Egypt’s REER index decreased to 91.9 in July from 126 in January, and the NEER index also retreated to 16.6 from 25.5 in January, according to Bruegel data, (5) Egypt’s 1-year CDS recorded 403 currently, down from its figure of 857 bps on 1 January. On the global front, the US sovereign 12M rate also retreated to 4.40% from its peak at 5.23% on 30 April. Thus, our interest rate model estimated the required interest rate by investors on the 12-month T-bills at 33.1%, which implies a real positive interest rate of 7.1% (after deducting a 15% tax rate for European and US investors and based on our 12M average inflation rate forecast of 21.1%), higher than the estimated positive interest rate of 1.2% over the latest 12M T-bill rate of 26.2%. All these factors pave the way for interest cuts; however, we expect the MPC to maintain rates unchanged at the 5 September meeting, waiting for more inflation deceleration, given recent electricity bill hikes scheduled to take effect in September.

Tune into WWE Bash in Berlin live on MBC’s Shahid

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Sahfy Sahfy
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Tune into WWE Bash in Berlin live on MBC’s Shahid
Tune into WWE Bash in Berlin live on MBC’s Shahid Tune into WWE Bash in Berlin live on MBC’s Shahid Tune into WWE Bash in Berlin live on MBC’s Shahid

Concluding the summer with exhilarating action, the upcoming WWE Premium live event; WWE Bash in Berlin, is set to bring nothing short of electrifying excitement and thrills to the global stage.

Taking place on Saturday 31st August, WWE Bash in Berlin will air exclusively in the region via MBC’s Shahid, live from Berlin. Marking the first premium live event to take place in Germany, the hotly-anticipated event will see superstars going head-to-head to settle their feuds and battle it out in some never-before-seen matches. As the weekend draws nearer, stay tuned for the latest line-up and unstoppable action set to take place.

The match card for this event, includes:

  • World Heavyweight Championship: Gunther (c) vs. Randy Orton

Two of the best in the world will go face-to-face when World Heavyweight Champion Gunther returns home to Europe to face Randy Orton, in a monumental World Heavyweight Title Match. 

After Gunther won the World Title at SummerSlam, by defeating Damian Priest, The Viper shocked the WWE Universe by appearing on Monday Night Raw, revealing that Adam Pearce has granted him a championship opportunity at Bash in Berlin with the winner staying on Raw and the loser going to SmackDown.

  • Undisputed WWE Championship: Cody Rhodes (c) vs. Kevin Owens

Undisputed WWE Champion Cody Rhodes will defend his title against ally Kevin Owens. Owens has been battling The Bloodline for over four years and after Rhodes defeated Solo Sikoa at SummerSlam, Rhodes offered Owens the chance to face him at WWE Bash in Berlin. 

  • WWE United States Championship Open Challenge Match: LA Knight (c) vs. TBD

After LA Knight successfully defended the WWE United States Championship against Santos Escobar on the Aug. 23 edition of SmackDown, Knight announced during a backstage promo that he will be defending the title in an open challenge at WWE Bash in Berlin.

  • Damian Priest & Rhea Ripley vs. “Dirty” Dominik Mysterio & Liv Morgan (Mixed Tag Team Match)

Damian Priest and Rhea Ripley are thirsty for payback as they take on “Dirty” Dominik Mysterio and Women’s World Champion Liv Morgan in a Mixed Tag Team Match. At SummerSlam, “Dirty” Dom stunned fans when he betrayed Mami and helped Morgan retain her title. In the same evening, Finn Bálor created another shocking moment when he caused Priest to lose the World Heavyweight Championship. On Raw, Bálor, Mysterio, Morgan, JD McDonagh and Carlito reemerged as a new version of The Judgment Day.

  • CM Punk vs. Drew McIntyre (Strap Match)

CM Punk will once again go to war with Drew McIntyre in a highly personal Strap Match. For months, CM Punk and Drew McIntyre have been in a bitter feud. Having recently squared off at SummerSlam, McIntyre emerged victorious over Punk after an altercation between The Second City Saint and Rollins, the Special Guest Referee.  

After Punk whipped McIntyre with his own belt on the Aug. 12 edition of Raw, a Strap Match was announced. It will be a brutal showdown with the two Superstars tied together and free to use the strap to do as much damage as possible.

  • WWE Women’s Tag Team Champions The Unholy Union vs. Bianca Belair & Jade Cargill

The WWE Women’s Tag Team Championship will be on the when Alba Fyre and Isla Dawn defend against former champions Bianca Belair and Jade Cargill. A dominant combination, Belair and Cargill are laser-focused on reclaiming the gold, but can they overcome the ominous power of The Unholy Union?

WWE Bash in Berlin takes place on Saturday 31st August and is scheduled to begin from 8:00PM, watch it live via MBC’s Shahid and then on the same day with Arabic subtitles on MBC Action.

100 Days to Abu Dhabi Finance Week: 2024 Edition Expands to 50 Events

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Sahfy Sahfy
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100 Days to Abu Dhabi Finance Week: 2024 Edition Expands to 50 Events
100 Days to Abu Dhabi Finance Week: 2024 Edition Expands to 50 Events

Under the patronage of His Highness Sheikh Khaled bin Mohamed bin Zayed Al Nahyan, the Crown Prince of Abu Dhabi, and Chairman of the Executive Council, the third edition of Abu Dhabi Finance Week (ADFW), the flagship financial event of the MEASA region hosted by ADGM, unveiled today an extravagant plan of 50 events and sub-events. In June, Abu Dhabi Finance Week (ADFW), announced its third edition under the theme ‘Welcome to the Capital of Capital’, which will run from 9th December to 12th December 2024 and will explore the multiple facets that contribute to Abu Dhabi’s position as the ‘Capital of Capital’ focussing on financial, human, cultural, environmental and technological facets of the capital.

ADFW 2023: A Gathering of Titans with USD 30 Trillion in Global Assets.

Last year’s edition of ADFW was a grand success, hosting over 3,300 Chairmen, CEOs, COOs, Managing Directors, Regional CEOs and Executive-level representatives from leading global financial firms, industry experts, policymakers, regulators, investors, and bankers engaged in lively discussions that debated the theme, ‘Investing in the Transition Era’ and highlighted Abu Dhabi’s growing prospects. The event’s attendees represented global financial firms from various sectors collectively managing over USD 30 trillion in assets – a whopping 22% of the worldwide economy.

With the event line-up for this year, ADFW is ready to take it up a notch and deep dive into another set of trending global topics within the financial industry throughout the four days of the event series which will kick off with an opening ceremony on the 9th of December 2024 featuring an exclusive guestlist of the world’s top financial leadership and economic leaders of Abu Dhabi. Setting the stage for ADFW’s third edition, the ceremony will set the tone and agenda for hundreds of pivotal conversations that will be held over the week ahead. after the Opening Ceremony, ADFW will see the return of one of its most successful events from last year – the Abu Dhabi Economic Forum. The forum will analyse the strategies, policies and investments defining the future of Abu Dhabi’s Falcon Economy, as it convenes the most senior leaders from the host Government and the leadership of multiple international financial institutions contributing to both Abu Dhabi’s Economic Growth, and the global markets. There are also other side events scheduled to take place on the same day such as the ADEF Private Leadership Forum, Abu Dhabi Capital Markets Forum, and the prestigious ADGM Gala Dinner.

The third edition of the flagship Investors Conference ‘Asset Abu Dhabi’ will be held on 10th December, the second day of ADFW, alongside the much-awaited latest edition of the International Dispute Resolution Conference ‘RESOLVE’.

Exploring the Future of Investment: Asset Abu Dhabi 2024.

This year’s Asset Abu Dhabi will build on the success of the 2023 edition and will continue to shed light on topics such as the evolution of public and private markets, investing in the next decade of technology, investing in cities of the future, and insights derived from the world’s biggest hedge funds. The agenda will include the perspectives of institutional capital and asset allocators in a changing investment landscape. Held as a public forum, Asset Abu Dhabi will convene asset allocators and asset managers, investment bankers, VCs, PEs, family offices and other institutional investors. Insightful side events on the second day include the UBS Investment Forum, International Family Office Congress, T.R.I. (Turnaround, Restructuring and Insolvency) Summit, Spear’s Private Wealth Forum and Venture Stage – Startup Campus.

Resilience in Dispute Resolution: Navigating Challenges at RESOLVE 2024.

Meanwhile, RESOLVE will gather key stakeholders representing the international dispute resolution community, as well as leaders from government, industry, technology and academia. Held under a theme of ‘Resilience’, the latest edition of RESOLVE returns to address the challenges faced by dispute resolution professionals including, finding a resilient mindset, winning negotiations, the effect of technology on better dispute resolution and the sector’s value and contributions to supporting more robust businesses.

Shaping the Future of Finance: Fintech Abu Dhabi 2024 at ADFW.

MENA’s biggest fintech festival – Fintech Abu Dhabi will return for its eighth edition at ADFW on 11th December 2024, the third day of ADFW. Tech innovators, developers, scientists, entrepreneurs and alternative investors will convene to showcase and stimulate the future of finance, across areas of payment, digital assets, digital security and credit. Alongside Fintech Abu Dhabi, several key topics will be covered through dedicated side events such as the Global Financial Regulators Summit, AI Forum, Blockchain Abu Dhabi, Risk 4.0 Risk & Security Forum, DLT Foundations Roundtable, Islamic Finance Summit and MENA Fintech Awards.

Leading the Green Finance Revolution: Abu Dhabi Sustainable Finance Forum 2024.

The final day of ADFW will host the 7th edition of the Abu Dhabi Sustainable Finance Forum (ADSFF) on 12th December 2024. After the successful special edition held at COP28 last year, ADSFF is set to become a part of ADFW in 2024 and underscores the overall commitment of the event series to climate finance development. Talks and sessions on Regulation, Awareness, Collaboration and Ecosystem will be held to showcase how Abu Dhabi and ADGM are taking the lead in sustainable green finance. ADSFF will provide the ideal platform for strategy and high-level discussions on achieving not just the UAE’s net-zero ambitions but also contributing to the world’s transition to a sustainable future. Other key side events during ADFW include Women in Finance, ADGM Academy (ADGMA) Showcase, Youth in Finance and Philanthropy Summit.

Global Insights and Strategic Dialogues: UAE-China Summit and UBS Investment Forum.

In a July announcement, ADGM also disclosed hosting the UAE-China Summit presented by HSBC, which is slated to be one of the sub-events this year. The UBS Investment Forum, another addition to the list of sub-events this year, will also bring forth insightful discussions with some of the major global representatives including C-Suites from UBS.

With an unprecedented breadth and depth of programming, along with becoming one of the world’s leading conventions for International financial leadership, ADFW 2024 is set to make a significant impact with its diverse lineup of events, reflecting Abu Dhabi’s dedication to fostering innovation and sustainable growth within the global financial landscape. As the emirate continues to strengthen its position on the world stage, ADFW 2024 will serve as a pivotal moment for meaningful dialogue, collaboration, and progress in the financial sector and continue on its path as one of the world’s fastest-growing financial event platforms.

The world’s most trusted English test now delivering faster results

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Sahfy Sahfy
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The world’s most trusted English test now delivering faster results
The world’s most trusted English test now delivering faster results

Test takers in the Middle East and North Africa who take their IELTS test on a computer can now receive their results in 1-2 days. This includes the following countries: UAE, Qatar, Oman, Saudi Arabia, Kuwait, Bahrain, Egypt, Morocco, Tunisia, Algeria, Occupied Palestinian Territories, Iraq, Jordan, Lebanon and Libya.

The faster results support those with tight deadlines as part of their global study, work or migration applications. 

James Shipton, Regional Director for Examination Services in MENA at British Council, said the quicker results demonstrates the IELTS Partners’ commitment to helping test takers achieve their life goals. 

“We know an IELTS result is crucial to millions of people worldwide, who are chasing a place at a university, a visa, a new job, or a new life abroad. That’s why we are working even faster to provide our test takers with their results. We have innovated our processes to release results faster, whilst also providing a secure, fair and valid assessment. With over 12,500 recognising organisations around the world, an IELTS result sets our test takers apart from the rest,” James said.

e& enterprise successfully completes $60m acquisition of GlassHouse, expanding into Türkiye, Qatar and South Africa

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Sahfy Sahfy
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e& enterprise successfully completes $60m acquisition of GlassHouse, expanding into Türkiye, Qatar and South Africa
e& enterprise successfully completes $60m acquisition of GlassHouse, expanding into Türkiye, Qatar and South Africa

e& enterprise, the digital transformation arm of e&, today announced the successful completion of its US$ 60 million acquisition of GlassHouse, a leading Türkiye-based provider of managed cloud, business continuity and SAP Infrastructure services.

The acquisition, originally announced in June this year, strengthens e& enterprise’s capabilities in private cloud and managed services, bolstering its overall value proposition with the addition of SAP capabilities and vertical expertise within the banking and financial services sector – supported by GlassHouse’s deep understanding and specialist skills in this space. It also marks a significant milestone in e& enterprise’s international growth strategy, following successful market entries into Saudi Arabia in 2019, Egypt in 2023, and now Türkiye, Qatar and South Africa. This acquisition also expands e& group’s operational footprint to 34 markets.

Now part of the e& enterprise family, GlassHouse is well-positioned for growth with a strategic focus on augmenting e& enterprise’s SAP capabilities in both the UAE and Saudi Arabia. As the new wholly-owned subsidiary of e& enterprise, GlassHouse will retain its brand identity and continue to operate independently.

Salvador Anglada, Chief Executive Officer, e& enterprise, said: “We are thrilled to welcome GlassHouse into the e& enterprise ecosystem as we continue to bolster our value proposition by reinforcing our capabilities, adding vertical expertise, and expanding into high-growth markets. This acquisition is another bold step in our journey to becoming a regional leader in end-to-end digital transformation.”

Alp Bağrıaçık, CEO, GlassHouse, said: “I am both proud and delighted to announce the successful integration of our company into the e& enterprise ecosystem. By harnessing e& enterprise’s robust portfolio, we will provide our customers with cutting-edge security solutions and innovative strategies to accelerate their digital transformation journey.”

Founded in 2004, GlassHouse has established itself as a prominent player in the cloud services sector. It offers managed cloud, business continuity, on-premise backup, private sovereign cloud, and SAP Infrastructure services to over 2,000 enterprises in select geographies. The company boasts a robust presence in the financial services sector, serving nine of the top 10 banks in Türkiye. With over 150 professionals operating across offices in Türkiye, South Africa, and Qatar, GlassHouse is a trusted partner for industry giants such as Microsoft, Dell, and SAP.

UAE Employers Lead in Health Benefits Offering, Cigna Healthcare Study Reveals

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Sahfy Sahfy
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UAE Employers Lead in Health Benefits Offering, Cigna Healthcare Study Reveals
UAE Employers Lead in Health Benefits Offering, Cigna Healthcare Study Reveals

A new Cigna Healthcare study reveals a significant disconnect between employer intentions and employee perceptions regarding health and well-being benefits in the UAE. While HR leaders rank international health insurance as the most preferred employee value proposition (EVP) for boosting productivity and attracting talent, only 7 in 10 employees believe their employers proactively support their health and well-being.

The report, titled Harnessing Health – Measuring the Impact of Employee Health and Well-being Benefits, is based on a survey of 1000 managers and directors in HR and Benefits functions in the UAE, Hong Kong, Singapore, UK and US.

A compelling 98% of UAE employees agree that a robust health and well-being program significantly boosts productivity and creates a more positive workplace. Reflecting this sentiment, the study reveals that UAE companies offer more health benefits than their global counterparts, underscoring the emphasis HR leaders place on employee well-being. However, despite these efforts, many benefits remain underutilized, indicating a critical need for improved access and awareness among employees. 

Leah Cotterill, CEO of Cigna Healthcare Middle East and Africa (outside KSA), said, “Our survey results clearly demonstrate that health and well-being benefits are powerful drivers of workplace performance and talent attraction. While it’s promising to see that UAE companies are offering more health benefits than their global counterparts, there’s still work to be done in bridging the gap between availability and utilization. To truly maximize the potential of these benefits, employers need to adopt a more strategic approach. This means not only offering comprehensive packages, but ensuring they’re well-communicated, easily accessible, and aligned with local cultural values. This is crucial for fostering a healthier, more satisfied, and ultimately more productive workforce, giving businesses a competitive edge in today’s global market.”

Key findings in the UAE include:

  • Strong Preference for Health Benefits: International health insurance is not only a key part of the EVP but also the most favored by employees, ranking higher locally compared to its fifth place globally. This preference is also shared equally with flexible time off and working arrangements. The UAE presents more companies offering health benefits than the global average.
  • Employer Priorities: Employee health and well-being are top priorities for HR leaders, on par with succession planning and leadership development (15%). Over half of these leaders believe that robust health insurance plans promote a positive company culture and enhance employee loyalty while effectively reducing absenteeism. UAE employee rankings are amongst the highest in being proactively supported and valued for their health and wellbeing.
  • Gap in Benefit Utilization: Despite the widespread availability of health benefits —offered by 93% of companies— there remains a significant underutilization issue, with preventive health tools being the least utilized. This points to a potential gap in how these benefits are communicated and understood by employees which could be a result of insufficient awareness, cultural resistance, or limitations in support.
  • Impact on Business Outcomes: More than half of HR leaders acknowledge the positive impact of health benefits on key business metrics, particularly employee loyalty and fostering a good company culture. While they see health insurance as beneficial in reducing absenteeism, their confidence wanes when it comes to its effectiveness in decreasing turnover, suggesting a need for targeted strategies to address specific local challenges.
  • Mental Health Support: There is still a gap in mental health support, as it is the least offered benefit in the UAE (48%) among all markets surveyed. Additionally, only 7 in 10 employees in the UAE feel that their employers proactively support their health and well-being.
  • Health and Well Being: 98% of employees in UAE agree that robust health and well-being program leads to better productivity and more positive work environment overall.

Save up to AED 1,000 on Careem Car Rentals with quick, hassle-free booking and delivery

By
Sahfy Sahfy
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Save up to AED 1,000 on Careem Car Rentals with quick, hassle-free booking and delivery
Save up to AED 1,000 on Careem Car Rentals with quick, hassle-free booking and delivery

As Dubai residents return for the new academic year, Careem introduces exciting deals on car rentals to meet the growing demand for flexible and affordable transportation. 

Powered by Swapp, Careem’s in-app car rental and subscription service provides customers with on-demand access to short and long-term rentals without requiring a deposit.

With many residents returning from summer vacations, starting new jobs, or preparing for the new school year, demand for car rentals is on the rise. Customers can choose from short or long-term rentals, with the average rental duration being 3 months, though some have used the service for over 10 consecutive months. You can rent a car through the app in minutes and have it delivered to your doorstep within 24 hours.

September and October are peak months for Careem’s car rental service. Rentals doubled in September 2023 compared to previous months. 

Popular car rental choices include models from Mitsubishi and Nissan, and luxury models like Porsche, Ferrari, Tesla, and BMW are also in demand. 

Bassel Alnahlaoui, Managing Director of Mobility, at Careem commented: “We know how quickly costs can stack up this time of year, with everything from school fees to new school supplies and uniforms. We want to take some of the pressure off by making car rentals more affordable and hassle-free. You can easily rent a car in just a few taps via Careem, and we’re offering savings of up to AED 1,000 to help ease the load. Careem’s purpose is to simplify life, and our everything app makes it incredibly easy to plan your day, from ordering your favorite meal to booking a ride or renting a car.” 

Customers can save up to AED 500 on three-month rentals by using the code UNLOCK500. To support teachers ahead of the new school year, Careem is offering an exclusive discount of up to AED 1,000 for those booking a nine-month rental using the code TEACH1000. Both offers can be redeemed until September 30, 2024. Customers renting monthly through Careem during this period also enjoy a free secondary driver and a 50% discount on a car wash from JINO.

Careem first introduced its car rental service in 2022. Cars are available for daily, weekly or monthly rentals, after which you can choose to return or exchange the vehicle for another model. Careem offers a wide selection of vehicles, ranging from everyday utility models to premium options, catering to individual and family needs. Available brands include Mitsubishi, Nissan, MG, Jeep, Toyota, Land Rover, Porsche, Ferrari, BMW, Tesla, and Renault. 

Careem currently offers over 12 services in Dubai including food and grocery delivery, rides, digital payments and remittances, bike rentals, and more. These include partner services offered directly through the app, such as home cleaning, laundry, salon and spa services, and tickets.

To rent a car in minutes and enjoy great savings, download or open the Careem app, and select ‘Car rental’ on the app home screen. You can download the Careem app from the App Store, Google Play, or via direct Android download.

EBRD makes equity investment in Bank of Palestine

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Sahfy Sahfy
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EBRD makes equity investment in Bank of Palestine
EBRD makes equity investment in Bank of Palestine

The European Bank for Reconstruction and Development (EBRD) and the International Finance Corporation (IFC) are supporting the Palestinian economy in challenging times with an equity investment in Bank of Palestine.

Under the new investment agreement, Bank of Palestine will issue additional shares, with the EBRD acquiring a stake of up to 3.92 per cent and the IFC taking a stake of up to 5 per cent through primary issuance.

The EBRD’s investment will help Bank of Palestine to proceed with its plan to expand in the region and support the bank’s financial inclusion work in the Palestinian economy. Bank of Palestine is the leading banking group in the West Bank and Gaza and is deeply committed to financial inclusion, with a strong focus on small and medium-sized enterprises (SMEs) and the empowerment of women and young people.

The Palestinian economy has faced numerous challenges since the war in Gaza started in October 2023. While the economic outlook for 2024 remains uncertain, a further contraction is to be expected. Gross domestic product (GDP) is set to shrink by anywhere between 6.5 and 9.6 per cent owing to employment losses and rising security tensions, which are continuing to affect mobility and business activity.

The EBRD investment in Bank of Palestine will have a significant impact, giving a much‑needed boost to the capital of a systemically important financial institution that accounts for more than 30 per cent of the Palestinian market.

Francis Malige, the EBRD’s Managing Director for Financial Institutions, said: “We are fully committed to supporting the Palestinian economy. Our aim with this investment is to help Bank of Palestine maintain its position as the leading local institution, leaving it well placed to capture any future growth stemming from reconstruction efforts. Bank of Palestine is not only systemically important to the Palestinian banking sector, but a key pillar of the local economy.”

Hashim Shawa, Chairman of the Bank of Palestine Group, said: “Today is an important day in the history of Bank of Palestine. Two strategic international development institutions, the EBRD and the IFC, have joined forces to invest in the bank, helping to boost our capital and enabling us to support the economic recovery that will be required after the devastating war and economic crisis that our economy is enduring. This investment is important for our future growth, sending a message of hope and partnership, confidence in the future role that the bank intends to play in the local economy and faith in the bank’s planned regional expansion. On behalf of my shareholders, board and staff, I would like to thank and salute the visionary leaders of the EBRD and the IFC.”

AI AND INTERCONNECTIVITY PROPELS SOUTHEAST ASIA’S $6.1 BILLION DIGITAL HEALTH MARKET

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Sahfy Sahfy
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AI AND INTERCONNECTIVITY PROPELS SOUTHEAST ASIA’S $6.1 BILLION DIGITAL HEALTH MARKET
AI AND INTERCONNECTIVITY PROPELS SOUTHEAST ASIA’S $6.1 BILLION DIGITAL HEALTH MARKET

GITEX Global, the world’s largest tech and start-up event, hosted in Dubai, has announced the creation of GITEX DIGI_HEALTH 5.0 Conference, the most anticipated AI and digital health expert gathering at the opportune inflection phase of the global healthcare evolution.

GITEX DIGI_HEALTH 5.0 Conference, organised by KAOUN International, the international organising office of Dubai World Trade Centre (DWTC), shall be hosted alongside MEDICAL FAIR ASIA in Singapore, organised by Messe Düsseldorf Asia.

MEDICAL FAIR ASIA is the region’s leading healthcare exhibition, organised by Messe Düsseldorf Asia. The showcase will feature 1,000 exhibitors from 62 countries and regions, with a Community Care dedicated area and a Start-Up Park presenting highly innovative companies.

The inaugural GITEX DIGI_HEALTH 5.0 Conference will convene a premier line-up of international speakers including dominant future health influencers and practitioners in Digital Health, Artificial Intelligence, Telemedicine, Consumer Health, and Patient Care, bringing together government leaders, global executives, investors, policy-makers, and innovators.

This strategic partnership between GITEX and MEDICAL FAIR ASIA, globally the two most influential industry event brands in the most transformational sectors of healthcare, medtech, digital and AI applications, catalyses Asia’s collective dynamics in forging a world class healthcare ecosystem underpinned by digitalisation. 

“We are delighted to see this co-location with GITEX DIGI_HEALTH 5.0 Conference in Singapore,” said Gernot Ringling, Managing Director of Messe Düsseldorf Asia. “This collaboration complements our event greatly, with MEDICAL FAIR ASIA’s strengths as a regional sourcing and networking event and GITEX’s expertise as the world’s largest tech event brand.

“At GITEX DIGI_HEALTH 5.0 Conference and MEDICAL FAIR ASIA, the medical, healthcare, and tech industries can come together to discover the latest digital health solutions and engage in meaningful discussions with leading experts and innovators. With its leadership in biotech and health R&D, Singapore provides the ideal backdrop for this partnership in advancing healthcare and driving the future of digital health across Asia.”

The expertly curated programme will explore the opportunities in a hybrid healthcare future, where AI, IoT, predictive data analytics, and interoperability are transforming patient care systems. Talks and panel discussions will also cover the evolution of telemedicine, the integration of AI diagnostics, VR/AR consultations, and remote monitoring, and the impact of emerging technologies such as blockchain and Web3 on the healthcare sector.

Under the overarching theme of Implications of AI and Digitalisation in Disrupting Healthcare – The immersive 2-day conference featuring global speakers from over 12 countries will highlight the integration of these technologies promises to disrupt traditional healthcare models, making them more efficient and accessible, with a keen focus on the region’s readiness and adaptability on how swiftly this transformation can take place.

Home to nearly 60% of the world’s population, the region’s digital health market is expected to generate USD 66.97 billion revenue in 2024 and reach a projected market value of USD 99.57 billion by 2029, according to analysts Statista. The rapid digitization of health services is leading industry sectors to experience significant growth. 

Trixie LohMirmand, CEO of KAOUN International, organiser of GITEX worldwide, said: “Despite the broader worldwide downturn in funding, regional startups have attracted significant investments particularly in the digital future health sector where accessible and high accuracy diagnostic medical interventions and solutions are the priorities of future economies. 

“The creation of GITEX DIGI_ HEALTH 5.0 Conference in Singapore, hosted with MEDICAL FAIR ASIA, shall now rally the region’s healthcare community of policy makers, practitioners, academia, investors, and innovation disrupters to collectively leverage the new phenomenal of deeptech to keep pace with a digital industry that’s reconstructing the healthcare industry.”

Harnessing Asia’s Health Tech Potential to the World

GITEX DIGI_HEALTH 5.0 Conference in Singapore will land in the region to expand and connect the knowledge and expertise of public and private organisations in tech and healthcare. Joining the stage this year are some of the most influential representatives from governments and global entities.

Headliners include Sutowo Wong, Director of Data Analytics at the Ministry of Health Singapore, Dr Pauline Erica Tay, Director of National Health Innovation Centre Singapore (NHIC), Dr Ossama ElHassan, Head of E-Health at the Dubai Health Authority from the United Arab Emirates, and Hanna Burkhardt, Head of UNICEF’s Venture Fund in Sweden.

Among the innovators, founders, and digital health leaders confirmed are WeiWei Hong, Director of the healthcare network SingHealth, and Shravan Kumar, Co-Founder and CEO of the Healthcare solutions platform SpeedDoc from Singapore, Chwee Foon Lim, CEO for Asia-Pacific at the world’s largest exoskeleton company Ekso Bionics, headquartered in the United States, Dr Ramon Varughese, Chief Medical Officer of Qualitas Health from Malaysia, and many more.

Accessing a Global Tech Hub with the World’s Largest Event Brand

GITEX DIGI_HEALTH 5.0 Conference in Singapore will seamlessly integrate the Asian health tech industry into GITEX’s global brand, the world’s most trusted tech ecosystem, with its powerhouse events in Dubai, Singapore, Berlin, Morocco, and Nigeria.

To attend the Conference from 11-12 September 2024 at the Marina Bay Sands in Singapore, access the event’s website today and register for a free pass: www.gitexdigihealth.com.

As part of GITEX’s expansion into the Asian region, GITEX ASIA — the most international cross sector tech and startup event in Asia—will make its debut in Singapore from 23-25 April 2025. This event strategically positions itself as the premier gateway to the Asian market, connecting the region with a global network of leading tech companies, unicorn founders, investors, AI pioneers, government leaders, and top-tier R&D institutions and academia. Learn more at 

www.gitexasia.com.

Forbes Middle East to Host its Third Annual Healthcare Leaders Summit with PureHealth

By
Shams
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Forbes Middle East to Host its Third Annual Healthcare Leaders Summit with PureHealth

Forbes Middle East will be hosting its third annual Healthcare Leaders Summit in September, following the incredible success of the event’s 2022 and 2023 editions. This year’s summit, held once again in partnership with PureHealth – the largest healthcare platform in the Middle East – will be the most impactful yet, featuring MENA’s most influential and thought-provoking healthcare professionals, government ministers, and wellness experts.

The popular two-day summit will be held in Abu Dhabi on September 19 and 20, under the theme “Beyond Boundaries: Advancing Health Towards Longevity.” Topics up for debate will include the significance of public-private partnerships in improving community health, the advantages of a holistic lifestyle, the use of intelligent technology to increase lifespans, and advancements in stem cell research, regenerative therapy, and biotech innovations. Experts will address pressing issues like tackling non-communicable diseases, improving family immunity, attracting top talent to redefine longevity, and advancements in pediatric care. Highlights will include conversations on breast cancer awareness and corporate well-being, as well as networking opportunities, entertainment, and wellness breakfasts.

“We are so proud to be holding this vital summit for the third consecutive year. Previous editions have been incredibly successful in exploring the topics and trends defining healthcare in the Middle East and globally, and this year we will go even further to truly transform quality of life and inform the future of healthcare for us all,” said Khuloud Al Omian, CEO and Editor-in-Chief of Forbes Middle East.

Shaista Asif, Group CEO at PureHealth, said: “PureHealth is spearheading advancements that push the boundaries of medical innovation and enhance quality of life for people across the region. This summit is an opportunity to acknowledge the leaders in this space who are harnessing cutting-edge tools and solutions to transform healthcare for future generations. By celebrating these achievements, we foster greater collaboration between industry leaders, policymakers, and healthcare pioneers to tackle shared challenges. It also enables us to discuss the potential of AI, regenerative medicine, and sustainable practices to empower healthier lives and create a future-proof healthcare ecosystem.”

Confirmed speakers include Shaista Asif, Group CEO at PureHealth; H.E. Dr. Noura Khamis Al Ghaithi, Undersecretary of the Department of Health – Abu Dhabi; Shaikha Almazrouei, Genomic and Stem Cell Researcher at TII and Chairman of the UAE Stem Cell Society; Fouziyah Al-Jarallah, Group CEO of the Hayat National Hospitals; Ayman Cheikh-Lahlou, CEO of Cooper Pharma; Georg Schroeckenfuchs, Head of the Gulf and Saudi Country Group at Novartis; Fatih Mehmet Gul, CEO of the Dr. Soliman Fakeeh Hospital; Marwan Abdulaziz Janahi, Senior Vice President of Dubai Science Park; and Marcelo Pereira, CEO of Oman International Hospital.

Forbes Middle East is collaborating with many distinguished partners to bring this important event to life, including: presenting partner, PureHealth; strategic partner, the Abu Dhabi Chamber and the Department of Health – Abu Dhabi; event partners, Jamjoom Pharma, Hayat Biotech, Magrabi Hospitals & Centers, and Hayat National Hospitals; wellness partner, Holistified; gift partners, Innara, Maison Etherique, and Wellbeings Holistic Healing; food partners, Amazonas4u.

To learn more about the Healthcare Leaders Summit and register, please visit our website.

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