分类: business

  • Dubai’s new pitching arena gives SMEs, young founders bigger stage

    Dubai’s new pitching arena gives SMEs, young founders bigger stage

    In a significant stride for the Gulf’s burgeoning innovation economy, Dubai has unveiled a new pitching arena designed to empower Small and Medium-sized Enterprises (SMEs) and young entrepreneurs. The initiative, spearheaded by IgKnightED, aims to provide a platform for aspiring founders to attract investor interest, refine their business strategies, and foster growth. The inaugural pitching session, held at the Address Skyview in Dubai, was organized by Khaleej Times Events and brought together startups, investors, and industry leaders. Bicky Carlra, President of WeValue, highlighted the initiative’s focus on nurturing job creators rather than job seekers, emphasizing the importance of youth entrepreneurship and undergraduate training. IgKnightED, which originated from a collaboration between ICC Oman and WeValue, has rapidly evolved into a cross-regional ecosystem connecting sectors, countries, and skill levels. The platform’s early focus on the BFSI (Banking, Financial Services, and Insurance) industry and AI-powered innovation has now expanded to include diverse sectors such as travel, retail, real estate, health, education, and sports. In partnership with The Wealth Circle, IgKnightED is set to launch a dedicated mobile app, enabling seamless collaboration between students, SMEs, startups, and investors across the region. This initiative aligns with the UAE’s broader vision to enhance entrepreneurship, as evidenced by its $8.7 billion ‘Projects of the 50’ initiative and its ranking as the top startup ecosystem in the Arab world. The GCC’s venture capital ecosystem has also seen significant growth, with $1.7 billion deployed in 2024 alone. IgKnightED’s expansion reflects the region’s commitment to fostering innovation and economic growth, with governments creating ecosystems where startups drive GDP and national strategy.

  • Shop, post, earn: UAE start-up turns social media posts into rewards for shoppers

    Shop, post, earn: UAE start-up turns social media posts into rewards for shoppers

    A groundbreaking UAE-based start-up, FluencePay, is revolutionizing the intersection of social media and commerce by rewarding users for sharing their shopping experiences online. Co-founders Vaibhav Agarwal and Ayushee Tyagi unveiled their innovative platform during an investor pitching session organized by Khaleej Times Events on November 19, 2025. The platform leverages artificial intelligence to incentivize users to post about their purchases on social media, transforming everyday shoppers into influential advocates for brands. FluencePay’s model is built on the premise that peer recommendations are more trusted and cost-effective than traditional marketing channels. A recent survey highlighted that 88% of consumers rely on trusted peer recommendations, with friends delivering eight times higher engagement than mega influencers. The platform operates seamlessly: users create a profile, link their social media accounts, and receive a “Fluent Score,” an AI-generated rating that measures their authentic influence based on factors like following, engagement, and posting behavior. This score determines the cashback rewards users earn for sharing their shopping experiences. These rewards can be redeemed as gift vouchers at over 2,000 outlets across the UAE. Tyagi described the platform as “productized word of mouth, measurable, scalable, and instantly working.” FluencePay has already partnered with national banks, Y Cube’s network of 45,000 GCC merchants, and universities like SP Jain and IIMA to attract early adopters. The start-up aims to onboard 60,000 users and 400 merchants within the next 12 months, with plans for global expansion into the GCC, UK, and US markets. Agarwal and Tyagi, who bring extensive experience from PayPal, digital marketing, and other start-ups, have secured advisory support from industry veterans at PepsiCo and the Landmark Group. FluencePay is currently raising $5 million to achieve its ambitious goal of reaching one million users and generating $70 million in revenue over the next three years.

  • Nvidia beats earnings forecasts amid Wall Street’s AI jitters

    Nvidia beats earnings forecasts amid Wall Street’s AI jitters

    Nvidia, the global leader in chip manufacturing, has once again demonstrated its dominance by exceeding Wall Street’s revenue and sales forecasts, alleviating concerns over AI-related expenditures that have recently unsettled the stock market. The company’s quarterly earnings report, released on Wednesday, revealed a staggering 62% increase in revenue, reaching $57 billion for the three months ending in October. This surge was primarily fueled by the robust demand for its chips, which are integral to AI data centers. The division responsible for these chips saw a remarkable 66% rise in sales, surpassing $51 billion. Additionally, Nvidia’s fourth-quarter sales projections, estimated at around $65 billion, exceeded market expectations, leading to a more than 3% increase in its stock price during after-hours trading. As the world’s most valuable company, Nvidia is widely regarded as a key indicator of the AI industry’s health. Its performance is closely monitored by investors and analysts alike, as it provides critical insights into market sentiment and the broader trajectory of AI development.

  • Dubai flights: Emirates ‘happy’ to add more seats to Indian cities, says CEO

    Dubai flights: Emirates ‘happy’ to add more seats to Indian cities, says CEO

    Emirates Airline is poised to enhance its connectivity to Indian cities, with its Chairman and CEO, Sheikh Ahmed bin Saeed Al Maktoum, expressing enthusiasm for increasing seating capacity. Speaking at the Dubai Airshow 2025, Sheikh Ahmed highlighted the airline’s commitment to expanding its presence in India, a key market for the Dubai-based carrier. Despite not having increased capacity on Indian routes for over a decade, Emirates remains optimistic about future growth opportunities. ‘We are happy to see that the Indians are giving us more seats in India, which will benefit both the Indian economy and our operations,’ he stated. The UAE’s open sky policy and bilateral aviation agreements with India have facilitated robust air travel between the two nations, with the Dubai-India corridor being one of the busiest in the region. Emirates currently operates flights to major Indian cities, including Ahmedabad, Bengaluru, Kochi, Chennai, Delhi, Hyderabad, Thiruvananthapuram, Kolkata, and Mumbai. The airline’s extensive network, spanning Europe, Asia, Africa, and the Americas, further strengthens its appeal to the Indian diaspora. In a significant move, Emirates recently announced orders for 65 additional Boeing 777-9 aircraft, valued at $38 billion, as part of its aggressive expansion strategy. Sheikh Ahmed emphasized that while India’s decision not to increase seating capacity may limit growth in that region, the airline will continue to explore other global opportunities. ‘The globe is big. If one place restricts us, we will focus on others to carry more passengers,’ he added. Emirates’ expansion plans underscore its commitment to maintaining its position as a leading global carrier.

  • No passports, queues: Dubai plans ‘red carpet’ airport experience at Al Maktoum

    No passports, queues: Dubai plans ‘red carpet’ airport experience at Al Maktoum

    Dubai Airports is set to revolutionize air travel with its ambitious ‘red carpet’ experience at Al Maktoum International Airport (DWC), eliminating traditional hassles such as passport checks, queues, and check-in desks. This initiative, announced by Ismail Polat, Senior Vice President for Development at Dubai Airports, aims to create a seamless and frictionless journey for passengers. The concept builds on the success of a ‘smart corridor’ at Dubai International Airport (DXB), where travelers can clear immigration in just six seconds using facial recognition technology, even during peak seasons. The new system integrates data from seven agencies to ensure security while maintaining a smooth passenger experience. By the early 2030s, all operations from DXB will transition to DWC, which will feature a Dh128-billion passenger terminal capable of handling 260 million passengers annually. The project leverages advanced AI and predictive systems to anticipate passenger needs and optimize airport processes. Polat emphasized that the focus is on creating a personalized and curated experience for each traveler, rather than imposing standardized procedures. This innovative approach underscores Dubai’s commitment to setting new benchmarks in aviation and enhancing global travel standards.

  • Henan retailer’s reparation policy fosters workers’ rights

    Henan retailer’s reparation policy fosters workers’ rights

    Pang Donglai Trading Group, a prominent supermarket chain in Henan province, has taken a groundbreaking step in safeguarding employee rights by introducing a comprehensive compensation policy for workplace dignity violations. The company recently disclosed detailed records of payments made to employees who experienced personal dignity infringements, highlighting its commitment to fostering a respectful and fair work environment.

    On November 19, 2025, the retailer released its ‘Compensation Standards for Pangdonglai’s Infringement of Personal Dignity’ on its official website. The document outlines 33 cases recorded between January 1 and October 31, 2025, with total compensation amounting to 359,000 yuan ($50,495). The policy underscores the company’s belief that personal dignity is an inviolable right, with the mental and physical harm from such incidents often being ‘lifelong, extremely painful, and irreversible.’

    One notable case involved an employee surnamed Cheng, who was assaulted while escorting an abusive customer out of a store in Xuchang on January 26. The customer, later identified as having mental health issues, slapped Cheng twice. The company compensated Cheng with 30,000 yuan, demonstrating its zero-tolerance stance on workplace violations.

    Since July 2024, Pang Donglai’s founder, Yu Donglai, has actively promoted the policy through his personal Douyin account. The compensation framework includes payments of over 5,000 yuan for unjust accusations, over 10,000 yuan for insults, and over 30,000 yuan for physical assaults. Yu emphasized that customers involved in such incidents would also face legal repercussions.

    The initiative aims to cultivate a corporate culture rooted in respect, fairness, and justice while advocating for stronger social and legal protections for personal dignity. Xu Wei, a lawyer at Henan Tianji Law Firm, praised the policy for exceeding legal obligations and setting a benchmark for employee welfare. ‘It exemplifies how employers can treat workers with dignity and respect,’ Xu noted.

    Tang Yaqin, a frequent customer from Zhengzhou, commended the company’s people-first approach, stating that such practices foster employee loyalty and consumer trust. Founded in 1995, Pang Donglai has grown to 13 stores across Xuchang and Xinxiang, employing approximately 8,300 workers with an average monthly salary of 9,000 yuan. The chain is renowned for its employee-friendly policies, including generous paid leave allowances.

    As of November 8, 2025, the company’s total sales for the year reached 200.35 billion yuan, surpassing the previous year’s figures by 30 billion yuan. This success underscores the positive impact of its progressive policies on both employee morale and business performance.

  • Flydubai to introduce new premium economy class, says CEO

    Flydubai to introduce new premium economy class, says CEO

    Flydubai, Dubai’s prominent budget carrier, is set to revolutionize its in-flight experience by introducing a premium economy class, as revealed by CEO Ghaith Al Ghaith during the Dubai Airshow 2025. This strategic move will see the airline offering three distinct classes—premium economy, economy, and business—on its Boeing 787 aircraft. The decision aligns with the airline’s evolving market dynamics and its commitment to enhancing passenger comfort. Al Ghaith emphasized that the premium economy class will not be available on narrow-body aircraft due to space constraints, but the airline remains open to future possibilities. This announcement comes on the heels of Flydubai’s landmark $24 billion deal with Airbus for 150 A321neo aircraft, which will bolster its fleet and support Dubai World Central’s ambitious expansion plans. The new Airbus aircraft are slated for delivery starting in 2031, coinciding with the opening of the first phase of Al Maktoum International Airport. Flydubai’s growth trajectory reflects its adaptability to market demands, having expanded its flight range and introduced business class in recent years. The introduction of premium economy underscores the airline’s focus on diversifying its offerings to cater to a broader spectrum of travelers.

  • Wuxi gathers global leaders to shape 15th Five-Year Plan vision

    Wuxi gathers global leaders to shape 15th Five-Year Plan vision

    The 2025 Annual Session of the Wuxi National High-Tech Industrial Development Zone International Advisory Consultative Committee took place on November 18 in Wuxi, Jiangsu Province. This high-profile event, themed ‘Connecting the World, Inspiring the Future,’ gathered approximately 50 global executives, institutional leaders, and representatives from Fortune Global 500 companies, international consulting firms, and major business associations. The primary objective was to integrate global expertise into the formulation of the 15th Five-Year Plan (2026-30) for the region.

    During the session, nine multinational corporations, including GE Healthcare, Panasonic, and LG Chem China Investment, were appointed as new consultants to the committee. Additionally, prominent firms such as Shinhan Bank, KPMG, and PwC were named Global Investment Promotion Partners, tasked with advancing international investment cooperation.

    Discussions focused on aligning global insights with local practices, covering topics like industrial-chain innovation, future industry planning, and cross-border resource integration. Key participants included representatives from SK Hynix, AstraZeneca, and SEMI, whose recommendations are expected to drive new growth engines and foster an open, innovation-led economy during the 15th Five-Year Plan period.

    The Wuxi National High-Tech Industrial Development Zone has demonstrated significant progress during the 14th Five-Year Plan (2021-25), attracting over $5 billion in foreign investment and maintaining annual foreign trade above 350 billion yuan ($49.23 billion). The zone is home to nearly 1,900 foreign-invested enterprises, including 128 Fortune Global 500 companies, which contribute significantly to the region’s industrial output and trade.

    Established in 1998, the International Advisory Consultative Committee has been instrumental in the zone’s development, offering strategic advice and fostering international partnerships. This year’s session reinforced the region’s commitment to becoming a world-class, innovation-driven hub, further solidifying its global economic influence.

  • Dubai: Flydubai to resume operating from Al Maktoum airport in two years

    Dubai: Flydubai to resume operating from Al Maktoum airport in two years

    Flydubai, the Dubai-based budget airline, has revealed plans to resume operations from Al Maktoum International Airport within the next two years. The announcement was made by Ghaith Al Ghaith, CEO of flydubai, during a media interaction at the Dubai Airshow 2025. Currently operating from Terminal 2 of Dubai International Airport (DXB), the airline had previously utilized Al Maktoum Airport before suspending services during the Covid-19 pandemic. Al Ghaith emphasized that the move is part of a strategic expansion plan, starting modestly and scaling up over time. He also dismissed concerns about capacity constraints at DXB, which is nearing full operational limits. The transition to Al Maktoum Airport is expected to alleviate pressure on DXB while providing flydubai with greater flexibility for growth. The airline’s return to Al Maktoum marks a significant step in Dubai’s aviation strategy, reinforcing the city’s position as a global aviation hub.

  • Dutch government suspends intervention into chipmaker Nexperia

    Dutch government suspends intervention into chipmaker Nexperia

    The Dutch government has decided to suspend its intervention at Nexperia, a Chinese-owned semiconductor manufacturer based in the Netherlands, following constructive discussions with Chinese authorities. The initial action, taken in September under the Goods Availability Act, was prompted by concerns over ‘serious governance shortcomings’ and potential disruptions to Europe’s semiconductor supply chain, particularly for automotive and electronic industries. In response, China imposed export restrictions on Nexperia’s chips, escalating tensions between the two nations. However, on Wednesday, the Dutch government announced the suspension of its decision, citing progress in bilateral talks. China welcomed the move, describing it as a ‘first step in the right direction.’ Nexperia, a critical supplier of basic computer chips to the global automotive sector, plays a pivotal role in maintaining supply chains. The Dutch intervention had raised fears of exacerbating the ongoing global chip shortage, which has already strained manufacturing capabilities worldwide. Economic Affairs Minister Vincent Karremans emphasized the importance of further dialogue with China, praising Beijing’s efforts to ensure chip supply to Europe and beyond. The Dutch government had initially acted due to concerns over alleged mismanagement by Nexperia’s former CEO, Zhang Xuezheng, who was accused of improperly transferring assets, technology, and knowledge to a foreign entity. A Dutch court had ordered Zhang’s removal in October, citing these allegations. The suspension of the Dutch intervention is expected to ease tensions between the European Union and China, which have been strained by trade disputes and China’s relationship with Russia. However, Beijing noted that the decision ‘still falls short of addressing the root cause of the global semiconductor supply chain turmoil.’ Wingtech, Nexperia’s parent company, has vowed to challenge the Dutch court’s ruling, which stripped it of control over Nexperia. The case highlights the growing geopolitical complexities surrounding the semiconductor industry, a sector critical to global economic stability.