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Forbes Middle East Honors 100 Influential Female Leaders Shaping The Business Landscape In 2024

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Sahfy Sahfy
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Forbes Middle East Honors 100 Influential Female Leaders Shaping The Business Landscape In 2024
Forbes Middle East Honors 100 Influential Female Leaders Shaping The Business Landscape In 2024

Forbes Middle East has unveiled its signature annual list of the region’s most powerful businesswomen for 2024, ranking the most successful, influential, and impactful women in business, championing the way to a brighter, fairer future. The list was constructed based on the size of the business, the individual’s impact, achievements, and performance over the last year, and the scope of CSR and other initiatives led by the person. Leaders of family businesses were excluded this year.

Hana Al Rostamani, Group CEO of the First Abu Dhabi Bank (FAB), leads the list for the second consecutive year. She was also recognized on Forbes’ list of the World’s Most Powerful Women 2023, ranked at 63 overall and 14th in the finance category globally. Two Kuwaiti powerhouses – NBK Group’s Shaikha Khaled Al Bahar and KNPC’s Wadha Ahmad Al-Khateeb – round up the top three.

The 2024 list features 100 entries, with 104 women from 27 sectors and 28 nationalities. Egyptians dominate with 17 women, followed by 14 Emiratis, and Saudis and Lebanese with nine women each. Leaders in banking and financial services make up over a quarter of the ranking with 26 entries, followed by healthcare with 13, and investments and technology with six entries each. A wave of 35 newcomers have joined this year’s list from 15 different sectors.

Three industry titans broke into the top 10 for the first time: Dana Nasser Al Sabah, Group CEO of Kuwait Projects Company (Holding) – KIPCO; Shazia Syed, Unilever’s General Manager – North Africa, Levant, and Iraq & Arabia Senior Customer Development Lead; Reem Asaad, Cisco’s Vice President – Middle East, Africa, Türkiye, Romania & The Commonwealth of Independent States (CIS). Of the top 10 ranked women, 50% work within the banking and financial services industry, and two Pakistani trailblazers represent the region’s non-Arab, diverse senior leadership.

Top 10 Most Powerful Businesswomen In The Middle East 2024

  1. Hana Al Rostamani

Nationality: Emirati

Group CEO, First Abu Dhabi Bank (FAB)

  1. Shaikha Khaled Al Bahar

Nationality: Kuwaiti

Deputy Group CEO, National Bank of Kuwait Group (NBK Group)

  1. Wadha Ahmed Al-Khateeb

Nationality: Kuwaiti

CEO, Kuwait National Petroleum Company (KNPC)

  1. Shaista Asif

Nationality: Pakistani

Cofounder and Group CEO, PureHealth Holding

  1. Dana Nasser Al Sabah

NEWCOMER TO TOP 10

Nationality: Kuwaiti

Group CEO, Kuwait Projects Company (Holding) – KIPCO

  1. Randa Sadik

Nationality: Jordanian

CEO, Arab Bank

  1. Sarah Al-Suhaimi

Nationality: Saudi

Chairperson, Saudi Tadawul Group

  1. Maryam Al Suwaidi

Nationality: Emirati

CEO, Securities and Commodities Authority (SCA)

  1. Shazia Syed

NEWCOMER TO TOP 10

Nationality: Pakistani

General Manager – North Africa, Levant, and Iraq & Arabia Senior Customer Development Lead, Unilever

  1. Reem Asaad

NEWCOMER TO TOP 10

Nationality: Egyptian-American

Vice President – Middle East, Africa, Türkiye, Romania & The Commonwealth of Independent States (CIS), Cisco

The Islamic Corporation for the Development of the Private Sector (ICD) returns to the Dollar market with tight five-year print

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Sahfy Sahfy
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The Islamic Corporation for the Development of the Private Sector (ICD) returns to the Dollar market with tight five-year print
The Islamic Corporation for the Development of the Private Sector (ICD) returns to the Dollar market with tight five-year print

The Islamic Corporation for the Development of the Private Sector (ICD) (www.ICD-ps.org), a Jeddah-based supranational, has printed a USD 500 million Sukuk maturing in February 2029.

The Sukuk issuance, which was oversubscribed with an orderbook over USD 2.2 billion, subscribed by 4.2 times from 46 investors, demonstrating the confidence of investors in the ICD’s vision and prospects. The proceeds from the sukuk issuance will be invested in development assets, facilitating its mission to foster economic growth and development initiatives across our 56 member countries.

Eng. Hani Salem Sonbol, the Acting Chief Executive Officer of ICD, commented: “We are thrilled with the overwhelming response to our sukuk issuance, which reflects the trust and confidence investors have in ICD’s business strategy and financial stewardship. This successful issuance not only strengthens our balance sheet but also provides us with the resources needed to pursue our strategic objectives and drive sustainable growth. The Sukuk issuance was well-received by a diverse group of investors and is a testament to the growing belief on the financial and operational improvements of ICD and appreciation of ICD’s development impact across our 56 Member Countries.”

With its return to the fixed income market and being a multilateral development financial institution, ICD has established itself as a unique credit quality. ICD is rated ‘A2’ by Moody’s, ‘A+’ by Fitch, and ‘A-’ by S&P. Further, 82% of voting power is held by shareholders that are rated A+ or above.

The Joint Lead Managers / Joint Bookrunners for this transaction were Al Rayan Investment LLC, Bank ABC, Boubyan Bank, Emirates NBD Capital, First Abu Dhabi Bank, HSBC, KFH Capital, Mashreq, MUFG and Standard Chartered Bank.

AHRC Condemns Israeli Massacre against Civilians in South Lebanon

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Sahfy Sahfy
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AHRC Condemns Israeli Massacre against Civilians in South Lebanon
AHRC Condemns Israeli Massacre against Civilians in South Lebanon

The American Human Rights Council (AHRC-USA) condemns the latest Israeli massacre in the district of Nabatieh, South Lebanon that killed innocent civilians on February 14, 2024. This attack murdered all members of the Berjawi family including two young children, among other casualties.

According to media reports, total of ten civilians were killed making it the deadliest Israeli attack within the past four month of cross-border fight. This target was not a military target. This is another example of Israel acting with impunity.

South Lebanon has been a battlefield, mostly within the rules of engagement since the beginning of the Israeli genocidal war against the occupied Palestinians against Gaza and the West Bank. Israel has been violating the rules of engagement. Israel in fact has been bombing not only Gaza but Lebanon and Syria as well.

Observers affirm that a ceasefire in Gaza is a ceasefire everywhere. The US should be demanding a ceasefire. The US policy is to keep Israel on a long leash while trying to limit the repercussions of the genocide in Gaza. This is becoming harder every day.

“We urge a ceasefire, this is standard when there is a conflict,” said Imad Hamad, AHRC Executive Director. “Every day that passes without a ceasefire in place is a day with avoidable deaths and destruction,” added Hamad. “There is one word to describe Biden’s Middle East policy: Unconscionable,” concluded Hamad.

Inaugural Bloomberg Power Players Summit in Jeddah, Saudi Arabia

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Sahfy Sahfy
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Bloomberg Media and SRMG Announce Inaugural Bloomberg Power Players Summit in Jeddah, Saudi Arabia
Bloomberg Media and SRMG Announce Inaugural Bloomberg Power Players Summit in Jeddah, Saudi Arabia

Bloomberg Media and SRMG announced today the first-ever Bloomberg Power Players Summit, Powered by Asharq Business with Bloomberg in Saudi Arabia. The Summit will take place on 7 March 2024 at the Jeddah Yacht Club, alongside the Formula One Saudi Arabian Grand Prix.

The event will bring together influential voices in the business of sports, entertainment, and technology to identify the next potential wave of disruption and multibillion dollar investments.

Hosted by Bloomberg’s Business of Sports Chief Correspondent Jason Kelly, the summit will explore key trends and topics shaping the future of sports. Discussions will focus on critical issues such as the influence of private equity in sports investing, evolving dynamics in the world of football with a particular emphasis on the MENA region, and the rise of new opportunities in the esports sector.

The initial speaker lineup features prominent names in the sports industry, each bringing their unique expertise to the Summit. Confirmed speakers include H.E. Khalid Al-Falih, Saudi Arabia’s Minister of Investment; Zak Brown, CEO of McLaren; Ralf Reichert, CEO of Esports World Cup Foundation; Carlo Nohra, COO of Saudi Pro League; Susie Wolff, Managing Director of the Formula One Academy; Amanda Staveley, Co-CEO of Newcastle United FC; Craig Levine, Co-CEO of ESL FACEIT Group; Dino Young, Founder and CEO of VSPO; Vikram Solanki, Director of Cricket, Gujarat Titans; and Gemma Wright, Senior Managing Director of CVC.

More than 150 esteemed guests, including CEOs and leading decision-makers from leading sports companies are expected to attend, with the Summit’s content accessible globally via Asharq News, Asharq Business with Bloomberg and Bloomberg’s television, radio, and digital platforms.

Karen Saltser, CEO of Bloomberg Media, said, “The inaugural Bloomberg Power Players Summit in Jeddah will serve as a pivotal platform for dealmakers, risk takers and game changers from business, investing, sports, media, and entertainment. The experience is designed to foster meaningful conversations against the backdrop of Saudi Arabia’s dynamic socio-economic landscape, where sports are gaining increasing prominence.”

Jomana R. Alrashid, CEO of SRMG, said, “This summit represents a valuable opportunity to exchange ideas about the future of sports and highlight investment opportunities in this important and growing industry worldwide. Saudi Arabia has emerged as a key player in driving innovation in the sports industry, with a comprehensive strategy over the past several years. The positive impact that this investment has had on tourism, job creation and the socio-demographic of the country and the region, is the reason we partnered with Bloomberg Media to host the Bloomberg Power Players Summit in Saudi Arabia.”

The Bloomberg Power Players Summit is the latest component of the content agreement between SRMG and Bloomberg Media, originally signed in 2018 with the launch of Asharq Business with Bloomberg. The agreement has since expanded to include Asharq Quicktake, the Arabic edition of the Quicktake streaming news platform, and Radio Asharq with Bloomberg, the region’s first Arabic-language radio station dedicated to business news and financial insights.

For more information on the speakers and agenda or to register interest to attend, please visit: https://events.bloomberglive.com/bloomberg-power-players-jeddah/home.

Agthia Group Delivers Strong Performance, Surpassing Guidance Ranges in 2023 Preliminary Results

By
شمس سيف
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Agthia Group PJSC (“Agthia” or “the Group”), one of the region’s leading regional food and beverage companies, today announced its preliminary and unaudited results for the fiscal year ending 31 December 2023.
Group net revenue increased 12.1% year-on-year to AED 4.6 billion during FY’23, supported by a continued shift in the Group’s product portfolio towards higher growth segments in key target markets. Snacking was the top-performing vertical, with 38.0%
year-on-year growth. Group like-for-like (LFL) revenue growth was 5.7% year-on-year, with Agri (+19.9% YoY) and Water & Food (+6.0% YoY) being major contributors of growth during the period.
EBITDA rose 21.1% year-on-year to AED 689 million during the reporting period, with the EBITDA margin expanding +113bps (exceeding the guidance range of 40-60bps) to 15.1%. EBITDA outpaced revenue growth, with greater scale and diversification increasing the Group’s ability to deliver consumer-relevant product innovations, optimize product and channel mix, procure favorably, and preimmunize its product offerings.
Underlying group net profit 1 grew 25.5% year-on-year to AED 342.2 million, expanding net profit margin by +80bps (exceeding the guidance range of 30-50bps) to stand at 7.5%, notwithstanding further FX and interest rate headwinds throughout 2023.
Reported group net profit 1 increased 9.9% year-on-year at AED 299.6 million (one-off 1 ).
Underlying earnings per share 1 (EPS) rose 23.0% year-on-year to AED 0.384, while reported EPS 1 grew 5.8% year-on-year to AED 0.330.
Snacking revenue grew 38.0% year-on-year (+9.3% on a like-for-like basis) on strong revenue growth across the Group’s snacking portfolio, led by dates products and packaging innovations across mid and high-value ranges, growth in date varieties, combined with a premiumization shift in portfolio, as well as value growth across retail channels in the UAE and internationally (e.g. India, Indonesia, Malaysia, and Brazil). Outside of dates, revenue contribution for FY’23 from BMB and Abu Auf collectively was AED 546 million, with the former seeing stronger growth in core markets, and continued volume and value gain in premium-branded coffee at Abu Auf in Egypt resulting in a 72% increase in FY’23 local currency revenue.
Water & Food revenue grew 6.0% year-on-year, reflecting significant growth in the UAE, driven by premiumization and innovation, with margins expanding on improved mix and productivity. The Group continued to retain its market leading position in the UAE bottled water segment, successfully launching value-added innovations such as Al Ain Plus (zinc fortified water), premium glass bottles, and a 100% rPET bottle (made of post-consumer recycled plastic which is infinitely recyclable). International business revenue also increased, with notable performances from Saudi Arabia, Kuwait, and Turkey.
Protein & Frozen showcased resilience despite a reported decline in AED terms, amid the challenging macro and consumer environment of 2023, which included the significant devaluation of EGP. The segment proactively safeguarded and prioritized its profitability and market leadership by adeptly implementing pricing strategies and optimizing costs.

Agri-business revenue grew 19.9% year-on-year, with strong volume growth across Flour and Feed, enabled by Feed sales through the Agrivita mobile app, offering end users added convenience and increasing its competitive edge. Segment performance was up significantly year-on-year, reflecting strong in-market execution and cost discipline.
Agthia Group’s total assets 2 stood at AED 6.6 billion as at 31 December 2023, with total shareholders’ equity 2 of AED 2.9 billion.
Khalifa Sultan Al Suwaidi, Chairman of Agthia Group, said: “Agthia’s continued strong performance, despite a challenging economic environment, demonstrates the company’s ability to reap the rewards from its value-accretive M&A activities, leverage synergies across the Group, prioritize innovation across its product portfolio, and optimize its operations to maintain profitability. I am confident that Agthia will further solidify its position in key market segments, aiming to provide high-quality and trusted food and beverage products to an increasing number of consumers.”
Alan Smith, Chief Executive Officer of Agthia Group, said: “Strong revenue and profit growth over the past year is testament to the tireless efforts and agility of all our colleagues across the Group, despite significant macroeconomic challenges and the high interest rate environment. I am positive that Agthia can consistently deliver on its strategy of acquiring, integrating, and growing attractive businesses in value-add categories, as we continue to pursue our ambition to become a leading food and beverage company in the MENAP region and beyond.”

10th Retail Leaders Circle MENA Summit Set to Take Place in Riyadh ‏

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شمس سيف
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 Held under the patronage of His Excellency, Minister of Municipal, Rural Affairs and Housing, Mr. Majed bin Abdullah Al-Hogail, the 10th edition of the Retail Leaders Circle (RLC) MENA Summit will be held in Riyadh from 19 to 20 February 2024, under the theme ‘Fearless Innovation: Charting the Next Frontiers’.

Highlighting the retail sector as one of the key economic pillars of the Kingdom of Saudi Arabia, the Summit reflects an ongoing commitment to integrating retail with sustainable infrastructure and modern urban planning. The event aligns with the goal of enhancing the quality of life for cities, residents and visitors, further reaffirming the Kingdom’s leadership across various commercial sectors.

The Summit will feature a distinguished group of international speakers and prominent CEOs, including Mohamad Mourad, Managing Director & CEO of Cenomi Group; Renuka Jagtiani, Chairwoman of Landmark Group; Patrick Chalhoub, Group President of Chalhoub Group; Sima Ganwani Ved, Founder and Chairwoman of Apparel Group; John Hadden, CEO of Alshaya Group; Alison Rehill Erguven, CEO of Cenomi Centers; Bander Talaat Hamooh, CEO of Panda Retail Company; Abdulmajeed Alsukhan, Co-founder and CEO of Tamara; and Hani Veiss, CEO of Majid Al Futtaim Retail; among others.

Panos Linardos, Chairman of Retail Leaders Circle, commented: “The patronage of the Ministry of Municipal, Rural Affairs and Housing signifies a substantial step, underscoring the importance of the 10th Retail Leaders Circle MENA Summit in advancing innovation within the retail sector and driving meaningful change, both locally and internationally.”

“The outstanding preparations and diverse program for this year’s Summit highlight our commitment to solidifying the Retail Leaders Circle’s position as the foremost global catalyst for dialogue, partnership building, and growth within the retail industry,” he concluded.

AHRC Calls for US Pressure on Israel to Stop its Planned Attack on Rafah

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Sahfy Sahfy
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AHRC Calls for US Pressure on Israel to Stop its Planned Attack on Rafah
AHRC Calls for US Pressure on Israel to Stop its Planned Attack on Rafah

The American Human Rights Council (AHRC-USA) calls upon the Biden administration to pressure Israel to stop its planned assault on Rafah. There are over 1.5 million Palestinians who have fled to Rafah from different areas of Gaza seeking shelter. Observers are predicting a bloodbath if Israel attacks the last haven for Gazans.

The only country that can influence Israeli decision makers is the US.

The unlimited US support of Israel has enabled it to commit the ongoing genocide in Gaza. The US ambassador to the UN said Israel’s military operation against Rafah “cannot proceed.” President Joe Biden himself realizes the extent of Israeli criminality. He said that Israeli bombing of Gaza has been “indiscriminate.” Biden also said the Israeli operation in Gaza is “over the top.” The Biden administration knows exactly what Israel has been doing in Gaza.

At this point, the world does not want words. Action is needed. The Biden administration, as to the Palestinians, human rights, and international law, has been long on words, short on action. Many observers note that the Biden administration wants a ceasefire, however, it is unwilling to pressure Israel for one. It is time to pressure Israel as to Gaza.

“We are shocked at the brazenness of the Israelis and appalled at the monumental level of timidity of the Biden administration,” said Imad Hamad, AHRC Executive Director. “Other Presidents at times have pressured Israel, the reluctance of Biden to pressure Israel is confounding,” added Hamad. “If genocide is not reason enough to pressure Israel, then what is?” concluded Hamad.

Support AHRC Today:

We need your support to continue to do our work. No amount is too small, and every donation is appreciated. Please donate today via AHRC Website (www.ahrcusa.org).

AHRC Mission:

The American Human Rights Council (AHRC) is dedicated to defending and protecting human rights as outlined in the U.S. Constitution and the United Nations 1948 Universal Declaration of Human Rights (UDHR). The AHRC was formed to protect these rights and advocate for anyone whose rights are being violated or denied. To that end, the AHRC will build a tenacious, objective, and carefully guided advocacy program that will serve to defend individual human rights, whenever and wherever they are being infringed upon

Orascom Development Egypt (ODE) announces preliminary unaudited KPIs for FY 2023

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Sahfy Sahfy
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Orascom Development Egypt (ODE) announces preliminary unaudited KPIs for FY 2023
Orascom Development Egypt (ODE) announces preliminary unaudited KPIs for FY 2023

Orascom Development Egypt (ODE) is pleased to announce its preliminary real estate and hotel KPIs for FY 2023.

Real Estate FY 2023 KPIs

ODE has surpassed all its previous records in real estate sales, with a surge of nearly EGP 19.5 billion in FY 2023, up by a momentous 74.9% (FY 2022: EGP 11.1 billion). Additionally, the Q4 sales in 2023 reached EGP 6.4 billion, exhibiting strong growth of 65.9% compared to Q4 2022. It is worth noting that international sales contributed a significant 37% to total real estate sales in 2023.

Omar El Hamamsy, Group CEO of Orascom Development, commented:

“The unprecedented sales results achieved in 2023 are a testament to our market leadership and steadfast commitment to growth. This achievement is a testament to the company’s pricing and planning strategies, including higher average selling prices and demand for units across all destinations. Our brand equity, customer excellence, and the quality of life we provide in our communities are the cornerstones of our success. We swiftly adapted our plans and accelerated construction to mitigate the impact of the inflationary environment. Despite geopolitical tension and economic pressure, we look forward to growing our leadership position in 2024.”

FY 2023 vs. FY 2022 Real Estate KPIs:

      Net value of contracted units (EGP mn)   Number of

contracted units

   Average selling price (EGP/m2)
Country Destination FY 2023 FY 2022 Δ in % FY 2023 FY 2022 Δ in % FY 2023 FY 2022 Δ in %
Egypt El Gouna 7,193.3 4,430.1 62.4%   377 389 (3.1%)   128,697 72,039 78.6%
Makadi Heights 2,677.3 949.8 181.9%   434 224 93.8%   52,344 35,536 47.3%
Byoum 22.0 – –   7 – –   10,050 – –
O West 9,18.0 5,729.5 59.7%   1,059 831 27.4%   57,739 38,252 50.9%
  Land sales   390.0 – –   – – –   – – –
ODE Group 19,430.6 11,109.4 74.9%   1,877 1,444 30.0%        

Q4 2023 vs. Q4 2022 Real Estate KPIs:

      Net value of contracted units (EGP mn)   Number of

contracted units

   Average selling price (EGP/m2)
Country Destination Q4 2023 Q4 2022 Δ in % Q4 2023 Q4 2022 Δ in % Q4 2023 Q4 2022 Δ in %
Egypt El Gouna 2,599.5 1,229.2 111.5%   123 97 26.8%   140,285 84,353 66.3%
Makadi Heights 904.1 340.4 165.6%   105 84 25.0%   68,646 36,439 88.4%
Byoum 2.4 – –   1 – –   9,400 – –
O West 2,846.7 2,260.2 25.9%   267 292 (8.6%)   64,037 43,905 45.9%
ODE Group 6,352.7 3,829.8 65.9%   496 473 4.9%        

A leap in hospitality portfolio during FY 2023 despite the conflict in the region

During the fiscal year ending 2023, the hotels in El Gouna increased occupancy rates, rising from 70% to 72%. Meanwhile, Taba Heights saw an increase in occupancy rates from 29% in FY 2022 to 42% in FY 2023, despite being affected by the conflict in Gaza that began in October 2023. Accordingly, the short-term strategy for Taba Heights hotels was to limit operational capacity and reduce cash burn rates while ensuring the destination’s readiness to operate when tourism eventually resumes. During FY 2023, foreign nationals constituted nearly 80% of the total occupancy at ODE’s hotels.

Omar El Hamamsy, Group CEO of Orascom Development, added:

“Orascom Development achieved remarkable business growth across hotels in FY 2023, despite being affected by Gaza in Q4 2023. The results exceeded our expectations, reflecting the agile response and plans we operate in our hotels.  Our resilient business model continued to drive powerful and robust results, primarily fueled by strong average daily rates, ongoing leisure demand, and increased occupancy rates. With global travel poised for continued robust growth, our strategic focus is on delivering exceptional experiences for our guests and retaining their loyalty. The increase in key performance indicators (KPIs) reflects our brand’s attractiveness, our team’s dedication, and the growing demand for travel and adventure among our guests.”

FY 2023 vs. FY 2022 Hotels KPIs:

    Occupancy %   ARR (EGP)   TRevPAR (EGP)   GOP PAR (EGP)
Destination FY 2023 FY 2022 FY 2023 FY 2022 FY 2023 FY 2022 FY 2023 FY 2022
El Gouna 72% 70%   2,922 1,637   2,956 1,635   1,661 823
Taba Heights 42% 29%   1,702 979   906 374   238 67

 Q4 2023 vs. Q4 2022 Hotels KPIs:

    Occupancy %   ARR (EGP)   TRevPAR (EGP)   GOP PAR (EGP)
Destination Q4 2023 Q4 2022 Q4 2023 Q4 2022 Q4 2023 Q4 2022 Q4 2023 Q4 2022
El Gouna* 71% 73%   3,161 2,004   3,191 2,056   1,801 1,220
Taba Heights 22% 30%   1,662 1,246   489 486   (145) 84

Deloitte delivers cutting-edge insights on government transformation and cybersecurity at World Government Summit

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Sahfy Sahfy
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Deloitte delivers cutting-edge insights on government transformation and cybersecurity at World Government Summit
Deloitte delivers cutting-edge insights on government transformation and cybersecurity at World Government Summit

Deloitte, the leading global professional services firm, has taken center stage as the official knowledge partner at the World Government Summit 2024, presenting two pivotal reports on the summit’s opening day, shedding light on the topics of government transformation as well as cybersecurity in cloud computing.

The first report titled “Government acceleration and transformation”, charts a strategic roadmap for governmental evolution. It sheds a spotlight on regional governments such as the UAE, Qatar, and Saudi Arabia who are taking leading steps in this field on a global level. Showcasing the innovative strides taken by these countries in adopting smart government solutions to usher an era of administrative renaissance.

Complementing this, the second report, titled “Cloud Cybersecurity: A Keystone for Inclusive Economic Growth in the Digital Era” delves into the critical nexus between digital services and economic advancement. In an era where digitalization propels economic growth, cybersecurity in cloud computing emerges as a linchpin for safeguarding national and citizen data, ensuring seamless public service delivery, fostering trust in digital governance, adhering to regulatory standards, and providing secure digital innovation.

Mohannad Tayem, Government & Public Services leader at Deloitte Middle East, said, “At the core of transformative governance is the pivotal role of innovation. In the quest for sustainable transformation, nations are recognizing the imperative role of technology education in building a future-ready workforce. Countries can draw valuable lessons from those who have progressed further in their transformation journey as they shape their future strategies.”

“Cloud cybersecurity is a critical aspect of government digital transformation. Its importance spans from protecting sensitive data and ensuring the continuity of public services, to building public trust, enabling innovation, and countering the ever evolving cyber threats,” he added.

ETHARA ANNOUNCES RECORD YEAR FOR COMPANY FOLLOWING LANDMARK INTEGRATION

By
شمس سيف
-

Over 1.3 million guests attended Ethara’s events and operated venues in a landmark year for the company Following the announcement of the integration between Flash Entertainment (Flash) and Abu Dhabi Motorsport Management (ADMM) in May last year, Ethara has shown no sign of slowing down in the delivery of regional events and experiences. Ethara has announced its record year for attendances across events, with over 1.3 million fans attending events throughout 2023 that the organisation has delivered through events it promotes and venues it operates.

 

With more than 100 events across the iconic Yas Island venues Ethara operates – Etihad Arena, Yas Marina Circuit, Etihad Park and Yas Conference Centre – the region’s leading event and venue management operator saw its landmark launch year conclude in style.

 

The integration of the two organisations aimed to set a new benchmark in the events and entertainment industry in the Middle East and beyond. Leveraging its history of 15 years in the region, Ethara combined the expertise and experience of two established companies to deliver unrivalled experiences for fans.

 

Since its launch in May, the UAE-born company has hosted some of the region’s standout events and moments this year, with the historic 15th edition of the Formula 1 Etihad Airways Abu Dhabi Grand Prix weekend alongside several milestone events including the Yasalam After-Race Concerts, the region’s first World Supercross Championship race in the WSX Abu Dhabi GP, as well as playing a significant role in managing various aspects of COP28, the international climate summit held at Expo City Dubai.

 

Saif Rashid Al Noaimi, CEO of Ethara commented: “It has been a meteoric rise for Ethara in our launch year, making local and international headlines across its portfolio of events in 2023.

 

 

“Since we completed the integration of ADMM and Flash back in May, our organisation and its award-winning team has gone from strength to strength, with over 700 event and venue management experts driving our thrilling events calendar across the year. There have been many highlights, and I’m delighted to see the results of the hard work that has been put in across the organisation, with much more to look forward to in 2024 and beyond. As a unified entity, Ethara has welcomed 17.3 million guests to our events and venues since 2009 – a truly remarkable achievement.”

 

 

With the UAE’s 2071 vision in mind, Ethara also engaged in key initiatives to support the next generation, with the STEM-learning focused Yas in Schools National Finals featuring over 1,000 students from across the UAE as well as a number of local sporting and academic initiatives at Yas Marina Circuit.

 

 

In 2023 alone, Ethara unveiled several unique new sustainability initiatives across its venues, notably achieving its FIA 3-Star Recertification ahead of the 15th edition of the Abu Dhabi Grand Prix weekend, highlighting the company’s commitment to working with leading global entities in its Net Zero Goal by 2030.

 

 

With several new programmes including the all-new solar powered initiative set to commence in partnership with Masdar and Emerge in Q1 2024, Ethara brought new sustainably driven additions to the region’s events calendar including the new LED lighting system introduced to spectacular effect at the F1 finale in November to reduce energy usage by over 33% for the Abu Dhabi GP. Ethara’s venues are set to see further innovation going into the first full year of activity for the region’s leading event management and venue operator.

 

 

Alongside the company’s ever-growing team of regional experts in the events and venue management industry, the 300 plus-strong team at Ethara looks forward to kicking off its new region-wide strategic partnership with Oak View Group, the world’s biggest arena operator to transform the Middle East’s event and hospitality industry once more.

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