Hello and welcome to the August edition of CEO Middle East.
This month we have been treated to a slew of dire prophecies regarding the future of the global economy, with the ongoing challenge of inflation rearing its head. In relation to the Middle East, I can perhaps think of no place better suited to ride out the inflationary storm than the Arabian Gulf. Nations here are well suited to the challenges facing business, with significant development headroom remaining.
Our cover story features one man focused on this development ecosystem – Abdullah Alothman, co-chairman and founder of Saudi fintech Geidea. Saudi Arabia’s startup story has been a fascinating one to watch, with the sheer scale available to businesses in the kingdom providing ample opportunities for innovative startups to succeed.
As the nation continues its reform agenda, in line with Crown Prince Mohammed bin Salman’s ambitious Vision 2030 plan, it will be exciting to watch what the future holds for business. Alothman’s story concerns his own course of building a business in Saudi Arabia, and I encourage you to turn to page 20 to find out more.
Additionally, given the rapidly changing economic environment we find ourselves in, we have included additionally analysis in this issue on the world economy. In the words of Maurice Gravier, the CIO of Private Wealth at Emirates NBD, “It’s time for a mid-year update.” Turn to page 14 for more.
The pandemic affected every area of business, causing massive disruption and forcing adaptation. Some of these themes we have frequently returned to in previous issues, such as the ongoing development of the future of work.
These conversations have begun to coalesce in the education sector, with experts pointing to the intrinsically digital future of learning (page 32 for more) while also calling out the opportunity for schools to be one of the first sectors to fully adopt a four-day work week (page 34).
Studies have continued to point to shorter work weeks being a positive for employee welfare and it will be interesting to watch this dynamic play out in the education sector. Finally, we have also continued to maintain our focus on the importance of ESG this month.
Beginning on page 38 you can find analysis dissecting why businesses need to put ESG at the heart of operations, how to rethink plastic usage, and the ways in which sustainability best practice can be adopted in the luxury sector.
Until next time.