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4 ways the Middle East can become more resilient in 2022 | World Economic Forum

The economic recovery from COVID-19 is the first priority in the Middle East. Addressing climate change and broadening the Fourth Industrial Revolution can shape an effective recovery. Advancing geopolitical dialogue is critical to a sustainable and resilient MENA region. The Middle East is still trying to chart its own path in the context of global geopolitical shifts, which are further compounded by the disruptive impact of the COVID-19 pandemic. Indeed, the IMF projects the Middle East will expand by 4.1% in 2022, but the reality is that with fiscal and monetary space narrowing in most economies, the recovery remains uneven. For instance, 10 countries in the Middle East and North Africa (MENA) region have vaccinated less than 10% of their populations, which is likely to drive the virus’s resurgence in the region. Against this backdrop, it will be crucial to improve regional coordination and dialogue. Here are four concrete ways in which regional stakeholders can work together to shape an effective recovery and create a more inclusive, sustainable and resilient MENA region. 1. Coordinating a robust and inclusive recovery The first priority is the economic recovery from COVID-19, given the resulting increase in public debt-to-GDP ratios in the region. It is imperative for governments to coordinate recovery efforts by proactively involving the private sector to ensure that their interventions have maximum effect. In the MENA region, public debts have been rising. Image: IMF In an effort to facilitate this process, the World Economic Forum has convened the Regional Action Group for the Middle East and North Africa on a regular basis. This group consists of more than 60 Ministers and CEOs from the region and works to enable policy coordination and exchange. In April 2020, the group endorsed the Principles for Stakeholder Capitalism, committing its members to embrace an inclusive and sustainable recovery. The Forum has also organized several Country Strategy Dialogues, allowing heads of state or government to exchange insights directly with business leaders in view of shaping their country’s policies concerning the recovery. During the course of 2021, we have convened such dialogues on Saudi Arabia, Egypt and Israel and are planning dialogues with additional countries for the year ahead. These dialogues are supported by existing collaborations in several countries through the Forum’s Skills and Closing the Gender Gap Accelerators. Operating in Egypt, Jordan, Oman, Bahrain and the UAE, these accelerators bring together leaders from government and relevant companies to craft national strategies to equip citizens with the skills needed to succeed in the labour markets of the future, and to remove obstacles to the equal integration of women in the workplace. According to the Forum’s Gender Gap Report, all things staying equal, it will take 142 years to close the gender gap in the region. We are looking for additional partnership opportunities to further consolidate the progress made by pioneering countries in the region. 2. Working towards a green MENA region The Middle East is responsible for around 8% of global carbon emissions, but it is warming at twice the rate of the rest of the world. For the first time, the average citizen is starting to experience the destructive aftershocks of climate change, for instance droughts in Iran and Iraq, floods in the Gulf and creeping desertification across the region. This rapid environmental degradation is countered by the fact that the region is optimally positioned to become a leader in renewable energy such as wind and solar, as well as in hydrogen production and export. Just like COVID-19, the effects of climate change do not stop at national borders. A regional framework for addressing its causes will be crucial to avoid “beggar-thy-neighbour” scenarios. Having Egypt and the UAE host COP27 and COP28, respectively, will help to ensure that the fight against climate change becomes a cornerstone of policymaking in the Middle East. The World Economic Forum has offered its support to both countries to ensure that the private sector is brought on board at this important juncture. Additionally, the Forum plans to convene for the first time a “Sustainability Action Group for MENA”, which will bring together leaders from government and business to collaborate on innovative solutions to tackle the region’s environmental challenges. 3. Broadening the Fourth Industrial Revolution The third area of collaboration is technology – one of the key sectors were trust needs to be rebuilt. The MENA region has witnessed a flurry of activities in this respect, exemplified by Saudi Arabia’s and the UAE’s adoption of personal data protection laws last fall. Given the MENA region’s young and tech-savvy population, its perennial youth unemployment problem and its adequate digital infrastructure, the tech sector has the potential to become a transformative growth pillar for the future economy of the Middle East. In an effort to support this dynamic, the Forum has established Affiliate Centres for the Fourth Industrial Revolution (4IR) in the UAE, Israel and Saudi Arabia. The centres facilitate tapping global expertise, access to the insights of local and global companies and intra-governmental coordination to regulate emerging technologies in a human-centric way, while at the same time providing an environment that allows innovation to flourish. For example, the 4IR Centre in Israel has supported the Ministries of Transportation and Justice in shaping a national regulatory framework for the trials and operations of autonomous vehicles (now pending approval by the parliament). We are looking forward to further expanding our network of C4IR centres in the region, including in Qatar, Bahrain and Egypt. Additionally, since medium-sized countries are more competitive in the economy when they join forces, we are planning to launch a project in collaboration with the Digital Cooperation Organization to improve the region’s attractiveness to Foreign Direct Investment in the digital economy. The World Economic Forum was the first to draw the world’s attention to the Fourth Industrial Revolution, the current period of unprecedented change driven by rapid technological advances. Policies, norms and regulations have not been able to keep up with the pace of innovation, creating a growing need to fill this gap. The Forum established the Centre for the Fourth Industrial Revolution Network in 2017 to ensure that new and emerging technologies will help—not harm—humanity in the future. Headquartered in San Francisco, the network launched centres in China, India and Japan in 2018 and is rapidly establishing locally-run Affiliate Centres in many countries around the world. [embedded content] [embedded content] World Economic Forum | Centre for the Fourth Industrial R... The global network is working closely with partners from government, business, academia and civil society to co-design and pilot agile frameworks for governing new and emerging technologies, including artificial intelligence (AI), autonomous vehicles, blockchain, data policy, digital trade, drones, internet of things (IoT), precision medicine and environmental innovations. Learn more about the groundbreaking work that the Centre for the Fourth Industrial Revolution Network is doing to prepare us for the future. Want to help us shape the Fourth Industrial Revolution? Contact us to find out how you can become a member or partner. 4. Advancing geopolitical dialogue Finally, the Middle East will not reach its full economic potential without a stable geopolitical environment. As such, the instability that blights half of its countries, from Afghanistan to Syria, Libya to Lebanon, needs to be addressed to avoid spillover effects. Countries hosting refugees are providing a global public service and should therefore receive additional support, not only financial but also in access to markets and technology. The Abraham Accords, Qatar’s mediation role on Afghanistan, the Saudi-Iranian dialogue and the Emirati-Turkish rapprochement are among positive developments in this respect. As such, the Forum looks to convene informal dialogues on some of the MENA region’s major fault-lines, to support mediation efforts and advance peace and reconciliation through economic incentives. We also plan to convene our community of Palestinian and Israeli business leaders, who advocate for a two-state solution, and who are working together to bridge the digital divide between the two sides in the context of COVID-19. License and Republishing Written by Mirek Dusek, Deputy Head, Centre for Geopolitical and Regional Affairs; ExCom Member, World Economic Forum Maroun Kairouz , Head of the Middle East and North Africa, World Economic Forum The views expressed in this article are those of the author alone and not the World Economic Forum.

Hope for democracy in Iraq as political violence escalates | Middle East – DW

Iraq is at a crossroads as the losers of the country's recent elections are using violence in an attempt to overturn the results of the vote. At the same time, a genuine opposition is emerging for the first time. Over the past month, there has been an increase in political violence in Iraq again. But, instead of the US bases or convoys that are often attacked, there were some less-usual targets. Last week, grenades were thrown at offices belonging to Sunni Muslim and Iraqi Kurdish political parties in Baghdad. On Sunday, grenades were lobbed at two Kurdish-owned banks in the capital.  On Monday, the house of a Shiite Muslim cleric in Muthanna province was attacked by gunmen. And, earlier in January, a senior member of a Shiite paramilitary group was apparently assassinated in southeastern Maysan province. Two were injured when assailants threw explosives at a Kurdish-owned bank in Baghdad A common thread As varied as they are, these targets all have something in common. They all did something to offend the losers in last October's federal elections. The parties that lost the ballot in October have been gunning for power in the next government despite their loss. And, although nobody has claimed responsibility for the attacks, experts said it was likely that those parties were now turning to violence to override election results. The recent uptick in attacks is the result of rising tensions as the formation of the country's next government nears. The winner of October's federal elections was the Sairoun, or Forwards, alliance. Although no single party dominated, Sairoun gained the most parliamentary seats in the election, winning 73 out of the total 329. Sairoun is the political arm of the movement led by prominent Shiite Muslim cleric, Muqtada al-Sadr. Meanwhile, the Fatah, or Conquest, alliance were the losers in the election. This group is also Shiite Muslim but is mostly associated with Iraq's established paramilitaries, known as the Popular Mobilization Forces,or PMF. Fatah only managed to get 17 seats in parliament, where previously they had 48. Misplaced loyalties The PMF were first set up by mostly Shiite volunteers, who offered to defend the country against the extremist group known as the Islamic State (IS). At first, the PMF were seen as heroes but they have since become very unpopular among ordinary Iraqis. This is partly because many PMF fighters still swear loyalty to neighboring Iran, rather than to their own country. Iran provided financial, logistical and even spiritual support during the fight against IS. Since then, the Shiite paramilitaries themselves have also split between those known to be loyal to Iran and those who pledge allegiance to their own government. The latter group includes militias allied with al-Sadr. Voters' clear dislike of the PMF, and Fatah by association, has left them at a big disadvantage when it comes to government formation. The PMF have become an official part of Iraq's armed forces and are paid by the state Rivalries among Shiites  In the past, when it came to building governments in Iraq, sectarian allegiances usually trumped all other considerations. Shiite Muslim politicians would stick together to share power and form the biggest bloc, allowing them to choose a president, who would then select a prime minister. This is no longer the case. Rivalries between Shiite groups have been "the chief threat to Iraq's Shia-dominated, ethno-sectarian political order for some time now," Fanar Haddad, an assistant professor at the University of Copenhagen and expert on Iraqi politics and sectarianism, told DW. "These rivalries are not new, but they have seldom been this acute." The political landscape in Iraq has changed and can no longer "be managed through the prism of identity politics and appeals to communal solidarity," Haddad said. Iraq's parliament held its first session of the year on January 9 In fact, al-Sadr, the behind-the-scenes leader of the victorious Sairoun alliance, has repeatedly said he wants to form a majority government that potentially excludes the Shiite Muslim parties associated with the Iran-loyalist paramilitaries. This includes Fatah. Foreign influences Earlier in January, al-Sadr's Sairoun party joined with Kurdish and Sunni politicians to take the first step toward forming a new government by reelecting Mohamed al-Halbousi, a senior Sunni politician, as speaker of parliament. This week, al-Sadr made another telling comment. "Neither eastern nor western. A national majority government," he confirmed on his Twitter account,  referring toIranian influence from the east and the US from the west. The attacks on various PMF leaders, such as those allied with al-Sadr, as well as Sunni and Kurdish politicians, parties, and banks, are assumed to be the result of Fatah's ongoing outrage at potentially being locked out of the next government. "Even though nobody has claimed responsibility so far and although their [Fatah and PMF] leaders are condemning the attacks, I think the recent escalation in violence that we're seeing is very likely to be a negotiation strategy," said David Labude, a research associate at the Iraq and Syria field office of the Konrad Adenauer Foundation, based in Lebanon. "Basically, Fatah didn't win the votes they needed and now they're playing hard ball with the government negotiators." For example, one of the Sunni Muslim politicians who had a grenade thrown at his Baghdad office told media that he'd also received threats at home. A message was left in an envelope on his doorstep. It said "a national majority government will carry many consequences for you" and advised him to withdraw from negotiations with al-Sadr and not to interfere in Shiite politics, he recounted. This pressure to overturn the legitimate outcome of the election through intimidation and violence comes amid rising hope that Iraq's parliament might finally become more representative. A new electoral law means that, for the first time ever, there could be a genuine, independent opposition in Iraq's parliament. Iraq at a crossroads The question now is which way the country will turn: toward more violence and a potential civil war between the armed Shiite factions or toward more genuine democracy. "I think the most likely outcome is somewhere between these two extremes," said Haddad, of Copenhagen University. "Political violence will continue and possibly escalate, but I think a deal is more likely than a descent into civil war. It is too costly to exclude any of the main players from the next government, and there is too much to lose for personal rivalries to get in the way of a deal." Cleric Muqtada al-Sadr has made it clear that he wants to exclude politicians loyal to Iran Labude also said the dueling Shiite parties would likely eventually arrive at an agreement. The new electoral rule means that, although Fatah lost many seats in October last year, they still got a lot of votes, he noted. Fatah and its allies have almost the same number of votes as al-Sadr's Sairoun alliance. Additionally, if Sairoun enters a coalition with the Kurdish and Sunni parties, their MPs would ostensibly be outnumbered by the Kurdish and Sunni MPs, should they decide to unite against their Shiite partners. "For the first time, the coming parliament seems likely to contain a formal opposition," Haddad said, no matter how Shiite parties eventually coalesce. "This is a welcome precedent in Iraqi politics," Haddad said. "The size, integrity and effectiveness of this opposition remains to be seen. But, in the long term, it has the potential to challenge the intra-elite collusion that has defined post-2003 Iraqi politics." Edited by: Sonia Phalnikar

Kleiner Perkins, Coinbase Among Backers of Gulf Crypto Firm Rain – Bloomberg.com

Follow @crypto Twitter for the latest news.Silicon Valley venture capital firm Kleiner Perkins co-led a funding round by crypto company Rain Financial at a valuation of $500 million, joining backers including Coinbase Ventures as digital currencies rapidly gain ground in the Middle East. 

Abu Dhabi: Why drone attacks in UAE could mark a dangerous turning point – CNN

Three people were killed when the strikes hit fuel trucks near the airport in Abu Dhabi on Monday, causing multiple explosions. Yemen's Iran-backed Houthi rebels quickly claimed the attacks.In response, the UAE and Saudi Arabia responded by pummelling the Yemeni capital of Sana'a with airstrikes, killing at least 12 people, in the deadliest bombardment in the city since 2019.Aside from escalating violence in a region that has sought to turn the page on a decade of proxy wars, the exchange of fire could also cloud a series of high-level talks between regional and international foes. Negotiations between Iran and Western powers on how to revive the 2015 deal to limit Tehran's nuclear program have recently shown signs of progress. And there are also indications that historic but difficult discussions between Saudi Arabia and regional rival Iran were beginning to bear fruit. But the unprecedented Houthi attacks in Abu Dhabi could throw a wrench into those talks. And if the rebels make good on their promise to launch further strikes, it could dent the UAE's image as a safe place to live, work and do business in a troubled region.Here's what to know about the crisis.Why was the Houthi attack so significant? In addition to being the first deadly attack in the UAE in many years, the drone attacks on Monday demonstrated the Houthis' ability to launch long-range attacks. Yemen's rebels frequently conduct cross-border attacks on Saudi Arabia, Yemen's neighbor, but these were relatively short distances in comparison with Abu Dhabi, and the vast majority of the missiles and drones were intercepted before they hit their targets. Oil prices spiked after the attacks, which spurred a flurry of international condemnation from the US and other world leaders. UAE Foreign Minister Sheikh Abdullah bin Zayed asked the US to reclassify the Houthis as a foreign terrorist organization -- a label that was instituted in the final days of the Trump administration before being lifted by President Joe Biden. The Houthis previously claimed to have conducted strikes on the UAE, which it does not share a border with. But Emirati authorities never acknowledged the alleged attacks, and many observers considered the claims to have been farfetched. Now Yemen's Houthis have delivered on a threat that they have for years made against the UAE, a major coalition partner in a six-year Saudi-led military campaign to crush the Iran-backed rebels.In 2019, the UAE pulled most of its troops from Yemen, after privately deeming the war unwinnable. The campaign failed to crush the rebels but exacted a huge humanitarian toll, with thousands of Yemenis dead and malnourishment and disease widespread. More recently, however, the UAE has returned to the fray, backing Yemeni groups in flashpoints like the oil-rich provinces of Shabwa and Marib and repelling Houthi fighters from the strategic desert town. Now, analysts say the rebels are eager to spark another Emirati withdrawal."The intervention of the UAE-supported forces was a game-changer. This angered the Houthis," said Maged al-Madhaji, executive director and co-founder of the Sana'a Center for Strategic Studies. "The Houthis are trying to create some sort of balance by striking the image of stability and security in the Emirates."What's at stake for the UAE?The oil-rich nation has for decades managed to stave off the political turbulence occurring elsewhere in the region. Stability is one of the UAE's major selling points -- helping to attract millions of expatriates and billions of dollars in foreign investment -- but that image could be shattered if the conflict with the Houthis escalates.The UAE relies heavily on foreign workers, who make up the vast majority of the country's workforce. Authorities intensively manage the country's reputation, and freedom of political expression is practically non-existent. Defenders of those restrictions on expression argue that they're necessary to maintain stability against all odds in the conflict-ridden Middle East. But for years, the UAE's muscular foreign policy — which saw it intervene in Egypt, Libya, Syria and the horn of Africa, in addition to Yemen — imperiled that very stability. When tankers were being targeted by its regional arch-nemesis Iran in 2019, off the coast of the UAE, Abu Dhabi quickly changed tack. Since then it's been on a diplomatic spree to heal years-old rifts. It has made a number of overtures to Iran, including sending a high-level delegation reportedly in October 2019 and then again in late 2021. It's also mended ties with Syria's pariah president Bashar al-Assad, after backing armed groups that sought to overthrow him in that country's war. The UAE's leadership has repeatedly said that it seeks to become a deescalating force in the region. Yet Monday's attack underscored a point that many observers have made, which is that turning the page on a decade of blood-drenched proxy war will be neither smooth nor instantaneous. All countries in the region, not just the UAE, will have a vested interest in a rapid deescalation of Monday's violence. Was Iran involved in the Houthi attack on the UAE?We don't know. What we do know that the drones were likely supplied by Iran, the principal supporter of the Houthis in their war on the internationally-recognized government of Yemen. But it is unclear if the Houthis' backers in Tehran ordered the strike, or if the rebel group suddenly went rogue. It wouldn't be the first time Iran-aligned groups appeared to go their own way. In November 2021, the head of Iran's elite Quds force Esmail Qaani paid a visit to Iraqi Prime Minister Mostafa al-Kadhimi, shortly after an attempt on the life of Iraqi Prime Minister Mostafa al-Kadhimi by Iran-backed militias. Some observers saw the visit as a bid to distance Iran from the actions of their militant allies. Another reason to suspect that Houthis acted on their own accord is that Iran has repeatedly said that it wishes to revive relations with its regional foes. Iran's new hardline President Ebrahim Raisi has received at least two invitations to visit the UAE, according to Iranian state media. In their statements condemning the attack in Abu Dhabi, Saudi Arabia and the UAE -- uncharacteristically -- steered clear of blaming the rebel group's backers in Tehran. Iran has not yet publicly commented on the attack.Yet, as ever, Iran's leadership is hard to read. A Lebanese news network, Al Mayadeen, reported that Raisi met with the head of Sana'a's negotiation team in Tehran on Monday, the day of the attack. Some observers viewed that as an admission of responsibility in the Abu Dhabi attack. What does this mean for the Iran nuclear talks? The violence on Monday has the potential to derail the nuclear negotiations in Vienna, as well as parallel talks between Saudi Arabia and Iran seen as critical to the success of a possible second version of the 2015 deal. If Iran is believed to be behind the Monday attack in Abu Dhabi — in the same way that they were widely accused of being responsible for the 2019 attacks on ARAMCO oil refineries (Iran denied the allegations) — then confidence-building measures could collapse and it would be difficult to see how the negotiations could continue. If, on the other hand, Iran brings the Houthis to heel, as an overture to its regional foes, then Monday's violence may blow over and the negotiations could carry on, possibly unabated. CNN's Sarah El Sirgany contributed to this report from Abu Dhabi.

Oil prices rise to highest levels in 7 years amid supply pressures in Ukraine, Middle East – UPI

Jan. 18 (UPI) -- Benchmark oil prices climbed to their highest level in seven years on Tuesday amid disruptions to supplies caused by COVID-19 and attacks in the Middle East. The price for Brent crude rose by 1.6% to nearly $88 per barrel, its highest mark since late 2014. The price for the U.S. crude benchmark, West Texas Intermediate, was up more than 2% to over $85 per barrel. Advertisement "Oil prices continue to trend higher," ING analysts Warren Patterson and Wenyu Yao said in a Sunday, according to S&P Global. "Concerns over tightness in the oil market continues to support prices, although the market appears to be ignoring several developments in recent days." Ongoing military tensions between Russia and Ukraine and security concerns over attacks in the Middle East have helped to push prices higher. On Monday, Houthi rebels attacked the United Arab Emirates capital of Abu Dhabi, killing three people. The Iran-backed Houthis have waged a civil war in Yemen for years against the Saudi- and UAE-supported Yemeni government. Analysts say the higher prices may prompt the world's leading oil-producing countries to take action to bring prices back in line. Advertisement

Five of the Best Luxurious Hotels in Las Vegas

Whenever you mention ‘Las Vegas’, most people will immediately think of the grand hotels, glitz and glamour and of course, those all-important casinos. Of course, not everyone can travel to Las Vegas and sometimes a little online gaming will fulfil our desire for excitement. But even then, some countries and regions, such as the MENA region, have to exercise even greater caution due to local restrictions. And if they wish to play at reputable casinos, they must first review the best Arabian gambling sites available to them. Expert reviews are conducted to assist in the identification of safe, secure, and discrete online betting sites. They offer regionally specific recommendations for safe deposits and withdrawals in every Arabic region, as well as comprehensive online gambling guides for players in each country to help them get started and have the best online gambling experience possible. However, the hotel you stay at in Vegas is one thing you won't have to gamble on because we’ve compiled a list of some of the finest hotels Las Vegas has to offer to make your trip even more spectacular.  Skylofts at MGM Grand The Skylofts are modelled on New York lofts, and they offer expansive views of the Las Vegas skyline. Each room provides a totally individual and luxurious hotel experience, ideal for modern travellers who enjoy art, fashion, and creative design, as well as having the means to take advantage of it. The sleek, chic interiors are incredibly comfortable, creative, and warm environments that are instantly recognisable as a ‘home away from home’ for today's urban elite with contemporary tastes. Nobu Hotel at Caesars Palace A boutique hotel-within-a-hotel concept, the Nobu Hotel is set within the 85-acre Caesars Palace resort and has been designed by the famous sushi chef of the same name. The zen furniture and clever artwork will make you feel miles away from Vegas. The rooms combine Japanese influences with sleek, modern decor as well as being fitted with a 55-inch TV, docking station, deep soaking baths with Natura Bisse toiletries - created exclusively for the Nobu Hotel. The modern luxury Nobu Hotel certainly exceeds expectations and redefines what contemporary hotels can offer. Bellagio Las Vegas Located on the main artery of Las Vegas, this imposing hotel is classical and aristocratic in style. In front of the hotel, you’ll find ‘Lake Bellagio’- a three-hectare artificial lake in which hundreds of fountains perform to music and lights every thirty minutes. Once inside the hotel, you’ll be welcomed to an exquisite European-inspired resort, complete with award-winning restaurants and a lavish spa, all while being surrounded by works from world-famous artists. With views of Lake Bellagio or the neon glitz of the strip, guests can choose from luxurious guest rooms, suites and villas. The Bellagio Hotel is one of the most sought-after hotels in Las Vegas and is especially favoured by those who love the retro style of European luxury. Four Seasons Las Vegas This is the hotel for those who want to be in Las Vegas but still want the service and intimacy of a five-star hotel. The Four Seasons Hotel offers a tranquil retreat at the edge of the Las Vegas Strip, with its own entrance off Las Vegas Boulevard. Located on the 35th to 39th floors of the Mandalay Bay tower, you’ll find the world-famous Las Vegas Boulevard as well as beautiful desert scenery as your view. There’s also award-winning dining at Charlie Palmer Steak, handcrafted cocktails and small plates at PRESS, an award-winning five-star spa, and a private five-acre pool at this luxurious hotel. Waldorf Astoria  At the heart of The Strip, the Waldorf Astoria Las Vegas, formerly the Mandarin Oriental, is the only Forbes triple 5-star luxury hotel. The rooms are furnished with great class, and the windows offer breathtaking views of the strip and the desert. There is nothing that compares to the delicious fusion cuisine and world-class leisure amenities, and the service is pretty hard to beat. With a non-gaming and smoke-free environment, the hotel provides the perfect combination between elegance, serenity, and luxury. As the famous saying goes, ‘what happens in Vegas stays in Vegas’. But you’ll still be able to rave about your fantastic stay at one of our favourite luxurious hotels. The good news is Las Vegas has so many hotels to choose from that it’s not unusual to find a room in a luxury hotel at a very affordable rate! Regardless of which one you decide on, it’s bound to be a winner!

OpenGate Capital acquires specialty solvent and chemical distribution business Chemisphere Corp

Private equity firm OpenGate Capital has acquired Chemisphere Corp (Chemisphere), a specialty solvent blender and chemical distributor. Chemisphere was acquired from its founder, Bob Schwent, and is a highly complementary business to Chemsolv, acquired by OpenGate Capital earlier this month. Combined, the two businesses form a strong platform, poised for organic growth and future add-on acquisitions. Terms of the acquisition have not been disclosed.  The combination of Chemisphere with Chemsolv creates a diversified platform spanning the Midwest to the Mid-Atlantic region of the US, with a balanced product offering of blended and non-blended chemicals, and a diversified customer base covering a variety of end-markets including construction, transportation, printing, personal care, automotive, industrial, food and beverage, lawn and garden, and other sectors.

Some $2.3b allocated to facilitate marriage

Some $2.3b allocated to facilitate marriage - Tehran Times

XTB MENA Names Nadhir Ninouh as Its New Marketing Director for the MENA Region

XTB MENA announced that it has named Nadhir Ninouh as its new Marketing Director for the MENA Region.ADVERTISEMENT According to an official press release shared with Finance Magnates, Nadhir Ninouh, a marketing executive with just over a decades of experience, has been appointed by, XTB MENA, a leading multi-asset    online trading  brokerage, as its new Marketing Director. Ninouh will be located at the Dubai International Financial Centre (DIFC). From the Dubai offices, he will be responsible for commanding the brokers marketing strategy.A Glance at Ninouh’s CareerPrior to XTB MENA recruiting the new    Marketing  Director, Ninouh has been working for CAPEX.com as Head of Marketing. Just recently, he was promoted to the role from his previous position of Marketing Manager.Related content Earlier on at ATFX Arabic, he served the organisation as a Digital Marketing Manager. From August 2019, he developed, implemented and executed paid search campaigns across multiple search engines among other duties.In February 2018, he joined Artefact in the position of Senior Digital Account. Part of his role required working with clients and internal teams to develop marketing strategies. At Herald Land Real Estate Brokers LLC, he became the PPC & SEO Executive in the summer of 2017. During this time, he defined, implemented and improved SEO solutions designed to meet objectives, which was only one part of his duties.Before this time, he was a Digital Product Manager for bfound.io. Over the course of eighteen months, he was involved in web design, photography, design, SEM SEO, video editing and digital marketing.At Second Home, he served the company as a Digital Marketing Specialist. His earliest known employment was as a Digital Specialist at Dz Web in January 2010.A Team of Notable Industry LeadersADVERTISEMENT Commenting on the new addition to the team, Achraf Drid, the Managing Director at XTB Middle East: “Nadhir Ninouh, having taken on the role as Marketing Director, is a huge asset to our quickly expanding brokerage. As we expand within the Middle East the 10+ years’ experience he’s gathered from both agency and client-side is proving to be invaluable.”“I’m extremely pleased to have joined XTB for the next phase of their growth journey and to be working alongside a team of notable industry leaders. I’ll be heavily involved in supporting the firm’s expansion into the Middle East region through my marketing experience and tech background,” Ninouh said.In other related news, XTB MENA has been recruiting comprehensively since the opening of its new Dubai office in October 2021, servicing clients in the MENA region. This is from when it secured a licence from the Dubai Financial Services Authority (DFSA) after it had incorporated its new subsidiary earlier at the Dubai International Financial Centre (DIFC) in July 2021.XTB MENA announced that it has named Nadhir Ninouh as its new Marketing Director for the MENA Region.ADVERTISEMENT According to an official press release shared with Finance Magnates, Nadhir Ninouh, a marketing executive with just over a decades of experience, has been appointed by, XTB MENA, a leading multi-asset    online trading  brokerage, as its new Marketing Director. Ninouh will be located at the Dubai International Financial Centre (DIFC). From the Dubai offices, he will be responsible for commanding the brokers marketing strategy.A Glance at Ninouh’s CareerPrior to XTB MENA recruiting the new    Marketing  Director, Ninouh has been working for CAPEX.com as Head of Marketing. Just recently, he was promoted to the role from his previous position of Marketing Manager.Related content Earlier on at ATFX Arabic, he served the organisation as a Digital Marketing Manager. From August 2019, he developed, implemented and executed paid search campaigns across multiple search engines among other duties.In February 2018, he joined Artefact in the position of Senior Digital Account. Part of his role required working with clients and internal teams to develop marketing strategies. At Herald Land Real Estate Brokers LLC, he became the PPC & SEO Executive in the summer of 2017. During this time, he defined, implemented and improved SEO solutions designed to meet objectives, which was only one part of his duties.Before this time, he was a Digital Product Manager for bfound.io. Over the course of eighteen months, he was involved in web design, photography, design, SEM SEO, video editing and digital marketing.At Second Home, he served the company as a Digital Marketing Specialist. His earliest known employment was as a Digital Specialist at Dz Web in January 2010.ADVERTISEMENT A Team of Notable Industry LeadersCommenting on the new addition to the team, Achraf Drid, the Managing Director at XTB Middle East: “Nadhir Ninouh, having taken on the role as Marketing Director, is a huge asset to our quickly expanding brokerage. As we expand within the Middle East the 10+ years’ experience he’s gathered from both agency and client-side is proving to be invaluable.”“I’m extremely pleased to have joined XTB for the next phase of their growth journey and to be working alongside a team of notable industry leaders. I’ll be heavily involved in supporting the firm’s expansion into the Middle East region through my marketing experience and tech background,” Ninouh said.In other related news, XTB MENA has been recruiting comprehensively since the opening of its new Dubai office in October 2021, servicing clients in the MENA region. This is from when it secured a licence from the Dubai Financial Services Authority (DFSA) after it had incorporated its new subsidiary earlier at the Dubai International Financial Centre (DIFC) in July 2021.

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