Hello and welcome to the latest edition of CEO Middle East, where we dive into the insights and stories that reflect the ever-evolving landscape of business in the region. This month, our cover story features Shaji Ul Mulk, the driving force behind Mulk International.
His influence extends beyond traditional boundaries, as evidenced by his involvement in the cricketing world with the T10 League, which officially took flight in Sharjah in 2017. We also explore his ground-breaking project, the Zim Cyber City, a $500m project which he described as a “ground-breaking endeavour to transform the real estate landscape in New Harare and Zimbabwe.”
Mulk’s wisdom, gleaned from navigating periods of economic downturn and market volatility, reminds us of the importance of diversification in mitigating risks. His insights serve as valuable lessons for leaders in these challenging times.
“Differentiation through innovation and unique offerings is crucial. Exploring emerging markets or niche segments can provide growth opportunities. Building a strong brand and reputation for quality and reliability has helped attract customers even in competitive environments,” Ul Mulk said.
In a world where the pursuit of success often leads to burnout, we bring you important information on how to safeguard your wellbeing. As the region experiences an economic upswing, it becomes crucial to strike a balance between ambition and self-care.
Sustainability remains a pivotal issue, particularly with COP28 on the horizon in the UAE. In this edition, we explore the potential of the blue economy in the fight against climate change. If we were to consider the ocean as a country, it would rank amongst the world’s top economies, with the economic value of the ocean economy estimated at approximately $2.5 trillion per year, or about 3 percent of global GDP in 2022.
Today, however, oceans face a multitude of challenges. The detrimental effects of climate change, biodiversity loss, overexploitation, and pollution are causing huge negative impacts, and it is therefore important to protect the oceans’ benefits from the same levels of urgency and priority as we have for protecting the terrestrial parts of the planet. Turn to page 34 for more details.
Furthermore, we shed light on how businesses and leaders can unlock new sources of circularity on page 52, reinforcing the notion that sustainability is not just a buzzword but a responsibility we all share.
Technology, a driving force of our times, continues to be at the forefront of our discussions. In 2023, artificial intelligence has taken centre stage, and we delve into its far-reaching implications starting on page 42. But, as we embrace the benefits of AI, we must also confront the challenges posed by malicious actors who are increasingly turning to generative AI for nefarious purposes. Turn to page 44 to learn more about this emerging threat.
As we conclude this issue, I encourage you to dive into the pages ahead, where you will find a wealth of knowledge, inspiration and practical insights that can shape your journey in the ever-changing world of business.
With that I’ll let you get to reading. Until next time.