Two companies have signed a deal to sell solar panels and other related services in the Middle East and Africa. O Capital and REC Solar Holdings are embarking on this partnership with the intention of taking advantage of what they see will be major growth in the renewable energy sector. “Beginning in 2017, we are… Continue Reading
Wahlburgers Restaurants Coming to Middle East
The popular burger chain known as Wahlburgers, which already owns 70 restaurants across the world, will be opening a new restaurant somewhere in the Middle East. “We have almost 70 restaurants under contract right now, with various franchisees and deals in different places. I think we will have nine or 10 open by the end… Continue Reading
Middle East Seeing Surge in High Tech Economy
An SAP and Economist Intelligence Unit (EIU) report shows that many businesses are realizing surprising benefits to their bottom-lines due to better access to information, including data on prospective clients, current customers, or internal functioning. McKinsey & Company also point out that businesses that are incorporating the digital marketplace will able to potentially see an… Continue Reading
China Telecom Expanding Business in Middle East and Africa
In order to take advantage of the growth potential in the under-served MENA sector, China Telecom opened an operating unit in the region which will control business there. The African and Middle Eastern-based China Telecom will manage their network and push for greater business development in the area. It will also oversee its local subsidiaries. … Continue Reading
German Delivery Hero Buying Middle Eastern Online Food Delivery Service
Berlin-based online food delivery company Delivery Hero Holding GmbH announced its intention to purchase Yemeksepeti.com for $589 million, to be paid in cash and stock. The goal is to expand their reach into Turkey, the United Arab Emirates and Qatar. Included in the terms of the deal will be that Yemeksepeti’s investors will become Delivery… Continue Reading
Education of Youth at Risk in Middle East
According to the United Nations as many as 21 million school-aged children are at risk for growing up without a basic elementary level education. A report published jointly by the united Nations Children’s Fund and the UN Educational, Scientific and Cultural Organization Institute of Statistics states that about 25 percent of children in the Middle… Continue Reading
Crescent Petroleum: Pre and Post Hussein Era
Crescent Petroleum began its activities in the early 1970s, just before Saddam Hussein became Iraq’s Fifth President. Crescent Petroleum was the first ever “regional, independent [and] privately owned Middle Eastern petroleum company to engage in the acquisition, exploration and development of petroleum concessions.” And even though Hussein was nationalizing various industries, Crescent Petroleum remained independent.… Continue Reading
Many Middle East Businesses Not Cyber-Protected
A new report released by the anti-virus software company Symantec and the research firm Deloitte shows that many small to mid-size companies in the Middle East do not have adequate protection against internet attacks. The report affirms that only about 30 percent of Middle East-based companies have the necessary protection which would protect them from… Continue Reading
S&P Lowers Ratings of ME Oil Producing Countries
Due to the recent drastic decline in the price of oil, the S&P decided to lower the sovereign credit ratings of several Middle Eastern oil producing countries. The price of oil has crashed since June, with S&P cutting their forecast for average Brent oil from $105 per barrel down to $55 for 2015. An increase… Continue Reading
Rolls-Royce Rolls in Best Year Ever
In 2014 Rolls-Royce, the uber-luxury car maker, sold 4,063 cars throughout the world, the highest number ever. In terms of growth rates RR says that they saw double digit growth in just about every region in which they sell cars. In North America sales were up by 30%; in the Middle East growth increased by… Continue Reading