Business Extra

The UAE's decision to leave Opec is the biggest exit the organisation has faced since 1960. As the group's third-largest producer and one of the few members with real spare capacity, the departure of the Emirates raises urgent questions about the future of global oil markets and the organisation that has shaped them for decades. This comes at a critical moment. The Iran war is escalating, the Strait of Hormuz is under pressure and Aramco is warning that the market has already lost about one billion barrels. Analysts say it could take until well into next year for the situation to fully recover. In this episode of Business Extra, host Salim A Essaid speaks with Amena Bakr, head of Middle East and Opec+ insights at Kpler, about what the UAE's exit means, whether other members could follow suit and whether the old Opec model still works in a more fragmented world.

As global supply chains face sustained disruption, the UAE is pressing ahead with a plan to build sovereign AI infrastructure, technology and data that the country can control without relinquishing intellectual property to foreign providers. In this week's Business Extra, recorded at Making it in the Emirates in Abu Dhabi, host Salim A Essaid speaks to the executives behind a deal finalised in March, in which UAE-based sovereign AI company Aleria won a major agreement with Nvidia to use advanced AI infrastructure in the UAE, beginning with thousands of Blackwell Ultra chips. Eric Leandri, chief executive of Aleria, Marc Domenech, vice president of Enterprise at Nvidia for the Middle East, North Africa and South Europe, and Paul Bloch, co-founder of data intelligence platform DDN, explain why sovereign AI is critical for the most sensitive areas of a country's digital operations, from healthcare and financial systems to government data and defence, and why investment in the sector is increasing in defiance of the geopolitical climate.

The UAE property market has been one of the strongest stories in the sector globally over the past few years, with record transactions, rising prices and huge numbers of international buyers. What makes the Emirates unique is not just the growth but its ability to recover quickly from downturns, attract global capital and reinvent itself through policy and positioning. But over the past few weeks, something unprecedented has happened. After the US-Israeli war on Iran started in late February, and Tehran's subsequent attacks on the UAE and other Gulf countries, transaction volumes fell by about 37 per cent year on year – and almost 50 per cent month on month in the first 12 days of March – according to Goldman Sachs. Some sellers are already cutting prices by 10 to 15 per cent just to close deals, and ValuStrat reported a 5.9 per cent decline in Dubai property prices last month. It is the first significant downturn in the UAE property market since its rise after the Covid-19 pandemic in 2020, and one that is geoeconomically motivated. In this live-recorded episode of Business Extra, host Salim A Essaid is joined by five experts to help make sense of it all: Mario Volpi, senior vice president of investment advisory at Allegiance Real Estate; Andrew Cummings, head of residential agency in the Middle East at Savills; Matthew Green, lead researcher at CBRE Mena; Rakesh Mavath, founder and chief executive of Takeem; and Louis Harding, chief executive of betterhomes. They discuss whether this is just a short-lived shock or the first real signs of a slowdown after several years of growth, what it means for people who have invested in the UAE property market, what could happen to rent prices as people seek more affordability, and whether distress sales are actually happening. 

In a matter of weeks, energy supply shocks sent oil prices up by 30 per cent, fuel costs surged to record highs, and the ripple effects hit everything from inflation and global growth to household bills. The International Monetary Fund has warned of one of the sharpest six-month economic downturns in the Middle East since the 2008 financial crisis. But the larger question is not just what happened. It is whether it had to be this bad. Could this crisis have been less severe if more countries had invested earlier in renewables and built a more distributed energy system? That's what host Salim A Essaid explores in this episode of Business Extra, recorded from Washington. Salim spoke to Robbie Orvis, senior director of modelling and analysis at energy policy think tank Energy Innovation. Mr Orvis examines whether the scale of this crisis will finally prompt a more durable global shift in clean energy investment, and what that shift might look like over the next six to 12 months. Salim also spoke to Mary Rose de Valladares, clean energy expert and non-executive director at Atome, one of the world's first green fertiliser producers, who traces why the transition to distributed renewables has moved in cycles since the 1970s and where that process genuinely stands today.

This year's IMF and World Bank Spring Meetings in Washington are unlike any in recent memory. The Iran war has given the annual gathering a geopolitical charge that has drawn an unusually broad crowd, not just the traditional ministers of trade, investment and finance, but foreign policy officials and venture capital executives from across the globe. In this episode of Business Extra, host Salim A. Essaid travels to Washington to speak to some of those attending about what they are looking for and how they are feeling about the state of the global economy. We hear from Mohamed Soliman, senior fellow at the Middle East Institute, who spoke about how this year's theme is uncertainty. The episode also features The National's Washington business correspondent Kyle Fitzgerald, who breaks down the IMF briefings, explaining why this is being described as a textbook supply shock, which countries and regions face the steepest downgrades and what the IMF is advising governments to do in the short term. Nicolas Veron, senior fellow at the Peterson Institute for International Economics, also joins Salim to examine whether the resilience highlighted in the IMF's outlook is being labelled too generously, whether markets are underpricing the risk of a global recession in the next 12 to 18 months and what those attending can realistically take away from a week of conversations in Washington.

The economic fallout from the Iran war extends well beyond oil markets and is beginning to be felt in consumers' daily lives. With transport and production costs rising, food prices are beginning to climb globally and airline tickets are already more expensive. Analysts are anticipating that much of the inflationary impact has not hit consumers yet. For Gulf economies, the question is whether strong non-oil sectors can stand the pressure. Globally, the stakes are higher still, with leading financial voices warning that a prolonged conflict could tip the world into recession. In this episode of Business Extra, host Salim A Essaid is joined by Amro Zakaria, global financial markets strategist and founding partner of Kyoto Network and Madarik Ventures, to examine the industries under strain and the inflationary risks building beneath the surface.

In this special episode of Business Extra, host Khaled Abuljebain sits down with Yan Martin Nufer, chief financial officer of Abu Dhabi-based Borouge, to explore how one of the region’s industrial giants is driving long-term value through innovation, technology and strategic expansion. From delivering one of the largest IPOs in the UAE to returning more than $15.5 billion in dividends, Borouge has positioned itself at the forefront of the global materials sector. Mr Nufer explains how Borouge’s proprietary technology is shaping next-generation materials, improving product durability, efficiency and sustainability across applications from medical devices to advanced packaging and energy systems. The conversation also looks ahead to the Borouge 4 plant in Al Ruwais, a $6.2 billion mega-project nearing completion, and how next-generation manufacturing platforms are expanding the company’s capabilities to serve global demand. Mr Nufer also discusses the company’s global ambitions, including potential expansion into China, and the broader vision behind building a more resilient, globally integrated materials business. Borouge is a UAE-based petrochemicals company that produces advanced plastics used across industries from health care and infrastructure to energy and manufacturing. Formed through a partnership between Adnoc and Borealis, it combines access to energy resources with cutting-edge materials technology, supplying high-performance products to global markets.

Leading executives from the world’s most influential energy companies are gathered in Houston for CERAWeek, often described as the industry's Super Bowl, as the Iran war rattles global markets. The conflict involving the US, Israel and Iran has disrupted supplies and raised concern over the stability of key routes such as the Strait of Hormuz. In this special live-recorded episode of Business Extra, host Salim A Essaid looks at how one of the most important international energy gatherings is unfolding in the shadow of war. Reinforcing a sense that this is not business as usual, major industry leaders, including Saudi Aramco chief executive Amin Nasser and the head of Kuwait Petroleum Corporation, Sheikh Nawaf Al Sabah, have withdrawn from in-person appearances. At the same time, oil markets are reacting sharply to developments on the ground. Prices have surged on fears of disruption, then pulled back on signals of potential de-escalation, highlighting how geopolitics is driving sentiment as much as fundamentals. In this episode Robin Mills, chief executive of Qamar Energy, The National's Kyle Fitzgerald – reporting from CERAWeek, geoeconomics editor Manus Cranny and assistant business editor Jennifer Gnana discuss what all this means for energy markets, industry decision-making and the broader global economy.

Water infrastructure, supply chains and agriculture are now increasingly exposed to geopolitical shocks. As the US-Israeli war on Iran led to attacks on infrastructure across the region, attention is shifting to the energy-water-food nexus, a tightly interconnected system where disruption in one area quickly cascades into others. In the Gulf, where countries rely on desalination for up to 90 per cent of their drinking water and import the majority of their food, these vulnerabilities are especially acute. In this week's episode of Business Extra, host Salim A Essaid is joined by Sameh Al-Muqdadi, a specialist in water politics and climate security at the Green Charter, to discuss how disruption to energy markets is translating into risks for water supply and food security. They also talk about why the region is particularly vulnerable and how these pressures could have a global impact. The conversation explores how long these effects could last, what it means for consumers and economies, and whether current infrastructure and policies are equipped to handle a prolonged crisis.

The effects of a distant war are rarely felt in the finances of residents in the UAE. Until now. The US-Israel-Iran war that began at the end of last month is already affecting global markets, driving up oil prices and shipping costs. While the long-term geopolitical effects are still unfolding, the financial consequences are directly affecting households across the Gulf. What does this mean for household budgets, savings, and financial security? Should residents move money, pay down debt, or hold additional cash? In this episode of Business Extra, host Salim A Essaid sits down with Carol Glynn, a UAE-based financial coach and founder of Conscious Finance Coaching, to find out. Mrs Glynn provides a logical roadmap for navigating your personal finances during uncertain times. The discussion offers a practical assessment of how much cash may be appropriate to keep on hand for short-term disruptions. She also warns of the expected inflationary effects from rising oil and shipping costs, advising residents to anticipate higher prices for fuel and groceries and to adjust their budgets accordingly. Finally, Mrs Glynn tackles the topic of investments during the crisis, noting a surge in questions about oil ETFs, gold, and even cryptocurrency, as people look for safe havens or quick gains. 

Missiles are flying overhead and being intercepted in the Gulf region. Days after the US and Israel attacked Iran, it fired back, sending waves of ballistic missiles and drones towards Israeli and US targets, including assets in the Gulf. The escalation quickly spread to regional energy infrastructure. Saudi Aramco’s Ras Tanura refinery halted operations of its 550,000-barrels-per-day production, after reported drone strikes. The Mina Al Ahmadi refinery in Kuwait, with a capacity of around 346,000 bpd, was reportedly hit by debris. Qatar faced blows that led to a complete halt of LNG production, affecting 20 per cent of the world’s supply, with implications for Europe’s energy security and ripple effects across Asia. Ports have also been struck. The UAE’s Jebel Ali was targeted and Duqm in Oman was hit by drones, underscoring vulnerability even outside the Strait of Hormuz, the world’s most contentious chokepoint and a passageway for about 20 per cent of global oil. In this episode of Business Extra, host Salim Essaid looks at how quickly global energy markets are reacting and what wider repercussions could follow if assaults continue. He is joined by The National’s Jennifer Gnana to unpack what is happening on the ground, and Robin Mills, chief executive of Qamar Energy, to examine the broader worldwide implications and the potential cross-industry impact.

Ramadan is a time of self-reflection, generosity, community and family, but it is also a period of intense consumer spending. Even as people fast from morning until dusk, spending rises across food and retail. In 2026, how people spend is shifting, with more people staying home, ordering in, and buying not only products but experiences too. Yet a recent survey suggests UAE consumers still expect to spend more this Ramadan. Redseer Strategy Consultants estimates the UAE Ramadan economy will grow from about $15 billion in 2025 to $16.4 billion this year. In this episode of Business Extra, host Salim Essaid is joined by Sandeep Ganediwalla, managing partner at Redseer, to unpack what is changing in consumer behaviour a week into the holy month. They discuss why excitement to spend is higher this year, how the winter weather is shifting people towards more outings and experiences, what Gen Y is doing differently with planned purchases, and why pre-Ramadan stock-ups are declining as delivery and loyalty programmes reshape habits.

A new phrase is quietly reshaping how governments, businesses and even militaries think about the future of power: Sovereign AI. The term is appearing in policy papers, billion-dollar infrastructure deals, and national strategies from Washington to Beijing and increasingly across the Gulf. But what does it actually mean? Is Sovereign AI about governments owning data and AI power? Is it about controlling data centres and chips? Or is it something larger – control over the intelligence systems that will run future economies, influence societies and shape geopolitics for decades to come? In this episode of Business Extra, host Salim Essaid speaks to Ahmed Abdulla, co-founder of the Sovereign AI orchestration platform Haimaker.ai, which is based in San Francisco. Mr Abdulla brings experience from Silicon Valley chip start-ups, Neom and global consulting to help explain what Sovereign AI really means, why it is becoming a national priority, and whether we are entering an era in which AI becomes a defining feature of economic and political power.

In this live Q&A session, Business Extra host Salim Essaid explores what the UAE Salary Guide 2026 reveals about the job market. He is joined by Viacheslav Shakhov, managing partner at Cooper Fitch, to discuss hiring trends across key sectors, how employers are responding to slower global growth, and why competition for skilled roles is intensifying. The conversation explores the growing influence of artificial intelligence in recruitment, including which skills are becoming more valuable, how roles are evolving rather than disappearing, and why continuous learning is increasingly important for job seekers. The session also addresses salary expectations, inflation pressures, and how companies are adjusting pay structures, benefits and long-term incentives to retain talent. Mr Shakhov shares his insights on which industries are showing the strongest demand, where hiring is slowing, and how the UAE compares with other Gulf markets. Audience questions address practical concerns such as CV strategy, applicant tracking systems, negotiating salaries, applying from overseas, and standing out in a crowded job market.

This episode was produced in partnership with Adnoc Group In this special episode of Business Extra, host Khaled Abuljebain speaks to Ali Siddiqi, chief financial officer of Adnoc Distribution. Mr Siddiqi shares how the company is growing its national footprint while cutting costs and advancing the UAE's energy transition goals. He outlines Adnoc Distribution’s plan to increase its fuel station network from 940 to 1,150 by 2028. At the same time, the company has reduced unit costs by 30 per cent through automation, AI and operational efficiency. The conversation also covers Adnoc’s evolving partnerships with leading retail players Noon and Landmark Group, as well as its introduction of 700 electric vehicle chargers. Mr Siddiqi explains how the traditional fuel retailer is repositioning itself as a broader energy and convenience service. This episode highlights how Adnoc Distribution is combining scale, technology and sustainability to create long-term value while supporting national carbon-reduction goals.

From powering AI data centres to ensuring long-term energy security, Adnoc Gas is shaping what reliable, sustainable and scalable energy looks like in the modern era. Adnoc Gas is expanding its network of more than 3,500 kilometres of pipelines, reaching new AI data centres in Abu Dhabi and scaling liquefied natural gas (LNG) capacity to meet rising global demand, all while maintaining long-term resilience and sustainability. Fatema Al Nuaimi, chief executive of Adnoc Gas, brings two decades of experience as one of the UAE’s leading energy executives, from her early engineering days to leading Adnoc LNG through a historic transformation and now steering Adnoc C Gas into a new era of growth, innovation and inclusion. As the first chairwoman of Adnoc’s Gender Balance Committee, she is also redefining leadership in the energy sector. In this special episode of Business Extra podcast, Ms Al Nuaimi joins host Khaled Abuljebain to reveal how the company secured 15 to 20-year supply agreements and completed the Ruwais Low-Carbon LNG project, the Mena region’s first LNG export facility powered entirely by clean energy.

Bitcoin lost over $18,000 in November, triggering one of the sharpest monthly declines since 2021. With nearly $3 billion in forced liquidations, headlines declared a crash. But is that the whole story? In this episode of Business Extra, host Salim Essaid sits down with two major voices shaping the global crypto conversation. First, Richard Teng, co-chief executive of Binance, explains what really happened in November. Then Yevgeny Bebnev, chief investment officer at Pelican Investments, argues that crypto has become an institutional asset, and that volatility is a market feature, and shares his outlook for 2026.

Millions of people move to the UAE for higher incomes, but after working hard for years and even decades, they face the big question: "How much do I need to retire comfortably?" Living costs are rising and foreign residents of the UAE do not have the same pension schemes available elsewhere in the world. This leaves them having to rely on personal planning and savings, which can feel overwhelming. In this episode of Business Extra, host Salim A Essaid explores the options available to maximise savings and grow your money, and asks how to avoid retirement mistakes. To figure this all out, he is joined by Dubai-based financial coach Jay Adrian Tolentino.

In this episode of Business Extra, Abdulla bin Touq, Minister of Economy and Tourism, joins host Salim Essaid to discuss how the country is positioning itself as the global capital for start-ups and small and medium enterprises. Mr bin Touq explains how new economic reforms, ownership laws and innovation frameworks have reshaped the business landscape, doubling the number of registered companies in just five years to more than 1.3 million. The conversation explores the government’s newly launched cluster-economy strategy, focusing on five priority sectors: food and food processing, financial services, tourism, data and analytics, and space. The minister also highlights the UAE’s growing circular economy, the role of artificial intelligence across industries and the policies designed to boost competitiveness and innovation protection. The conversation also examines how the UAE aims to balance rapid growth with resilience and sustainability while targeting two million registered companies within the next five years.

This episode was produced in partnership with the Adnoc Group Capt Abdulkareem Al Masabi, chief executive of Adnoc Logistics & Services, joins this episode of Business Extra to explore the rise of the UAE’s largest integrated maritime logistics company. Now ranked as the second-largest player in global energy logistics, Adnoc L&S has expanded its role on the world stage with a combination of strategic foresight and resilient leadership. Capt Al Masabi explains how the company has navigated market volatility and geopolitical uncertainty to complete a record IPO. He also outlines the long-term thinking behind its $10 billion fleet expansion and how securing $26 billion in long-term contracts is helping cement the UAE’s place in the energy logistics value chain.

A quiet transformation is reshaping the global wealth map. High net-worth individuals are moving their assets from the UK to the UAE. The Revolut co-founder Nikolai Stronsky's recent change of tax residency from the UK to the UAE reflects a much broader trend. Higher taxes, the end of the UK’s non-dom regime, and general regulatory uncertainty are pushing wealthy people to look for stability, predictability and a global lifestyle. In contrast, the UAE is offering zero income tax, long-term residency, world-class infrastructure and an easy environment in which to do business. In this episode of Business Extra, host Salim Essaid explores what’s behind the growing exodus of capital and talent from the UK and why the UAE is increasingly emerging as the destination of choice for wealth migration. He speaks to Philippe Amarante, managing partner at Henley & Partners Middle East, on the sidelines of the Abu Dhabi Investment Forum in London. He breaks down what is causing the UK to lose more millionaires and what wealthy people are really looking for when deciding where to base their lives and capital. Then, we hear from Khalifa AlMahmoud, director of investor attraction at the Abu Dhabi Investment Office. He outlines why the emirate’s mix of tax benefits, education opportunities and global accessibility makes it a long-term contender for global private capital.

US President Donald Trump's 20-point plan for Gaza peace promises investment corridors and special economic zones. But without sovereign control, how can the Palestinian economy survive? In Palestine, everything from the movement of goods to collecting taxes depends on approval from the Israeli government. The result is an economy that functions but is fundamentally constrained. It grows, but only within parameters set by an external power. In this episode of Business Extra, host Salim Essaid delves into one of the world’s most complex economic realities, examining what doing business looks like under constraint, how aid and donor priorities are often misaligned, and why real growth requires more than money. Joining the conversation is Raja Khalidi, director general of the Palestine Economic Policy Research Institute and a veteran of more than 30 years at the UN Conference on Trade and Development. Together they explore the broader question of whether any international economic plan can succeed if it does not address the underlying structures of occupation.

As TikTok faces a high-stakes restructuring to divest from its Chinese ownership, a new deal is emerging. Major US players including Oracle and Silver Lake are in the mix, along with MGX, a UAE-based company that could become one of the few overseas owners of the platform’s American operations. This is more than a business deal. It determines who will shape the minds of users on one of the most viewed social media platforms in the world. In this episode of Business Extra, host Salim Essaid looks at the size of the deal, the level of control shareholders have over content and what TikTok might look like if influenced by a Gulf-based owner. The episode also examines how algorithm access, content moderation and ownership dynamics tie into global soft power, and how much that influence really matters.

The announcement that Carrefour has shut stores in Kuwait, Bahrain and other countries made headlines across the region. But behind the immediate news lies a bigger story that international retail giants are struggling to keep Middle East consumers interested. Consumers are increasingly turning their backs on big-name internationals and favouring local brands, home-grown experiences and practices that resonate with their regional identity. This is not necessarily a rejection of global brands but instead it is to meet customers' needs and values. In this episode of Business Extra, host Salim Essaid digs into the shift, which is seeing global names starting to fade from store shelves, and asks how far it goes. We hear insights from Aarti Nagraj, deputy business editor at The National, and John E Katsos, professor of management, strategy and entrepreneurship at the American University of Sharjah.

It’s a big week for global economies tied to the dollar with the US Federal Reserve widely expected to cut interest rates at its meeting. Interest rates are a signal of how the Fed views the health of the economy and where it thinks things are heading. The decision heavily affects the economies of Gulf countries such as the Saudi Arabia, the UAE and Bahrain, whose currencies are tied to the dollar. It also directly affects consumers. For example, a cut could make it cheaper to borrow to buy a car or a home, and to use your credit card, but may also lower returns on your savings. In this week's Business Extra, host Salim Essaid is joined by James Swanston, a senior Middle East and North Africa economist at Capital Economics, to explain how the Fed's decision on interest rates could ripple through the region’s economies.

People across the UAE and the region have noticed web pages loading more slowly, shows taking longer to stream and Wi-Fi going in and out. This is because the undersea cables that support all those things have been damaged. In this case, we’re looking at cuts to cables that lie at the bottom of the Red Sea. Around the globe, such cables run along seabeds and are the very foundation of internet connectivity. Depending on where in the world you are, you might have a different set of these cables to thank for your ability to go online. On this episode of Business Extra, host Salim A Essaid discusses what exactly makes this incident so critical, what’s next, and how it all comes back to the web user.

Despite billions being spent over the past few years on artificial intelligence investments, a recent MIT Media Lab report found 95 per cent of organisations have produced zero returns so far. But is that really the case for companies who are offering AI solutions? How are those in the Middle East performing? In this episode of the Business Extra podcast, host Salim Essaid is joined by Mohammad Abu Sheikh, founder and chief executive of CNTXT AI, a UAE-based data and AI solutions company. Later, he is joined by Amit Joshi, a professor of AI, analytics and marketing at the IMD Business School to look at the bigger picture and the disconnect between implementing AI and profit. And to explore the impact of this on hiring AI specialists and attracting talent, Dana Alomar, The National's future editor, joins the conversation.

Syria’s central bank has announced plans for a currency overhaul that will involve eliminating two zeros from its pound and printing new banknotes. The Syrian pound has lost more than 99 per cent of its value since the start of the civil war in 2011, and economists are warning that a new currency means little without real policy reform. In this week’s episode of Business Extra, host Salim Essaid looks at Syria's move, considers what it means for the economy and questions whether it will work. He is joined by Hani Abuagla, senior market analyst at XTB Mena in the UAE, and The National’s Senior Business Reporter Fareed Rahman.

Nuclear energy can be a flashpoint for tension in the Middle East. Now, though, it's taking new light. A handful of Gulf countries, including the UAE, have signed new agreements with the US in the past few months – each nation with its own advantages and goals in the sector. These agreements focus heavily on civilian nuclear energy. But they are also part of a broader goal to futureproof Gulf economies. The Emirates Nuclear Energy Company, or ENEC, is the body responsible for all things nuclear in the UAE. In July, it expanded an agreement with US nuclear power company Westinghouse. It designs and sells the AP1000 – an advanced reactor known for its good economics. This partnership, according to a statement from ENEC, will entail: “Efforts to accelerate the deployment of that AP1000 reactor, exploration of opportunities in US nuclear projects and quadruple nuclear capacity by 2050.” On this episode of Business Extra, host Salim Essaid hears from Noam Raydan of the Washington Institute for Near East Policy to explore why momentum in the area of nuclear partnerships is building.

New US tariffs are coming into effect this week. US President Donald Trump's newest deadline of August 1 is his latest attempt to secure trade agreements with vital global economies – and bring in more revenue for the US. Take Monday’s deal between the US and the EU. They avoided a trade war by agreeing that the EU would pay 15 per cent tariffs on most goods – half the rate that Mr Trump had threatened. But other big shifts are also taking place. US tariffs are pushing international exporters to find more reliable trade partners, and countries in the Middle East are stepping up to the plate. On this episode of Business Extra, host Salim Essaid hears from Simon Evennet, a professor of geopolitics and strategy at the IMD business school in Stockholm, to understand what this means for the region. Editor’s note: We want to hear from you! Help us improve our podcasts by taking our two-minute listener survey. Click here.

Crypto has reached a critical moment in its history. The US released a slew of game-changing bills for cryptocurrency last week, signalling a long-anticipated seal of approval of crypto from the world’s largest economy. Those bills are the Clarity Act, something called the Anti-CBDC Surveillance State Act, and – the Genius Act, which is what we are focusing on today. It is all expected to have major implications for the Middle East, which has already established its own level of crypto adoption. On this episode of Business Extra, host Salim Essaid hears from two experts; Naeem Aslam, CIO at Zaye Capital Markets in London, and Ola Doudin, CEO of UAE-based cryptocurrency exchange BitOasis. Editor’s note: We want to hear from you! Help us improve our podcasts by taking our two-minute listener survey. Click here.

A whole new property market is to open up to international buyers and it is from the Middle East’s largest economy. Starting in January 2026, Saudi Arabia will allow foreign investors to buy property in the kingdom. It has left global investors eager to find out how they can tap into Saudi Arabia’s fast growing real estate market, which is expected to reach more than $94 billion by 2028. But how easy will it be for a foreign investor to buy property in the kingdom? Will there be a language barrier? Are the kingdom’s regulatory systems able to work with foreign buyers yet? We explore these questions and more on this episode of Business Extra, where host Salim A Essaid hears from Faisal Durrani, a partner and head of research for the Middle East and North Africa at Knight Frank Middle East.

The absence of income tax has helped to attract people from around the world to move to the Gulf. But one country is set to change direction. Oman recently announced it will be the first country in the region to introduce personal income tax. While some countries, including the UAE and Saudi Arabia, have other types of taxes, such as VAT, on most goods and services, Oman is making history with a levy on personal income. The tax is not set to take effect until 2028, but it has already raised questions about whether other Gulf states will follow suit. Deepthi Nair, Assistant Business Editor, discusses the subject with David Daly, a partner at the Gulf Tax Accounting Group in the UAE.

For decades, most Emiratis have worked in government roles. But now, thousands are joining private companies as part of a nationwide plan to balance the workforce. Early iterations of Emiratisation began in the 1990s, with programmes formalised in the early 2000s. About three years ago, the UAE gradually implemented quotas for hiring Emiratis and gave private-sector companies deadlines to meet them. Now, those deadlines continue to come up. In this episode of Business Extra, host Salim hears from our own Ali Al Shouk and Ben Crompton of Crompton Partners on Emiratisation, how it’s affecting companies, and what it means for the future of work in the UAE.

Gulf leaders have been on alert for triggers on several fronts: for one, potential damage to nuclear sites, such as the Bushehr nuclear power plant in Iran, just across the pond that is the Arabian Gulf. The Gulf has also kept close watch on the Strait of Hormuz, the narrow waterway in the Gulf where about a fifth of the world's oil flows through to power the globe, and which Iran had threatened to close. Despite the announcement of a ceasefire, all of these are still major factors in the Gulf's economic well-being and stability. On this week's episode of Business Extra, host Salim Essaid hears from Safaa Al-Kogali, World Bank county director for GCC countries. Let's get into what happened, what's next and what we're on the lookout for.

In the days since Israel started its offensive against Iran, oil prices have shot up and global markets dipped. Israel has struck nuclear sites and oil fields, and the aggression has left global markets wary of what’s to come. Markets are holding out for the possibility of major supply chain disruptions that could have global impact. To understand what this war means for the global economy, Business Extra host Salim Essaid hears from The National's Geo-Economics Editor Manus Cranny, and Colby Connelly, Senior Fellow at the Middle East Institute.

“New” is the theme in the Middle East’s growing aviation sphere: new cities, new aircraft and new markets. The International Air Transport Association (Iata) says carriers in the region are expected to post the highest net profit margin in the world this year, at 8.7 per cent. These are strong numbers from the Middle East. But they are coming at a volatile time. Host Salim Essaid hears from The National's own Deena Kamel and StrategicAero Research's Saj Ahmad on what to expect from air travel in the region.

In the UAE, where development is the name of the game, real estate is a big deal. There's a lot of growth in the UAE, and that means questions about property. The real estate sector in Dubai has been booming since Covid, while there is also rapid development in Abu Dhabi. A report from the credit rating agency Fitch says Dubai property prices are expected to fall by up to 15 per cent in the second half of 2025 and into next year. But some experts say that might not be the case. So how do these new changes in developments factor into the real estate market? We hear from Haider Tuaima, managing director and head of real estate research at ValuStrat, Cherif Sleiman, Chief Revenue Officer at Property Finder, and our own Senior Business Reporter Fareed Rahman. Editor’s note: We want to hear from you! Help us improve our podcasts by taking our two-minute listener survey. Click here.

Last week, some of the biggest names in tech announced a partnership with Abu Dhabi’s leading AI entity, G42 – a project called Stargate UAE. It’s part of a massive new AI campus set to come online in 2026 – a Gulf iteration of OpenAI’s US-based project of the same name, which was launched earlier this year. Also happening at the same time will be a partnership between Nvidia and the UAE’s AI investment bank, MGX, on a data centre in Europe, and another G42 partnership focused on building data centres on US soil. All of this comes after US President Donald Trump’s visit to the Gulf in May. It’s arguably the dawn of a new era, not just in tech, but in the global economic and political relationships that are keeping tech at the helm. On this episode of Business Extra, we revisit the question of AI and the Gulf, because a lot has changed in just the last few months. 

The UAE is in a race with itself to raise its manufacturing game.  From machine parts to pasta, there is one goal: Make it in the Emirates. That also happens to be the name of an event taking place in Abu Dhabi this week, showing what UAE manufacturing has to offer. It’s part of a larger push by the country to be less reliant on international trade, aiming to expand and diversify the UAE economy and make manufacturing as one of its strongest pillars. On this episode of Business Extra, we're hearing from an expert and an innovator to learn more about the UAE’s national push, what it offers and how entrepreneurs can benefit from it.

US President Donald Trump’s historic trip to the Gulf has come to an end – but the business deals announced during it will have a lasting impact. Mr Trump’s tour was a whirlwind of mega-announcements, including $200 billion in commercial deals with the UAE, a $600 billion package with Saudi Arabia and a record aircraft order from Qatar Airways. In this episode of Business Extra, host Sarah Forster is joined by The National’s Geo-Economics Editor Manus Cranny to break down what it all means for the future of US-Gulf relations and tech ambitions, and look at how economic interests are now shaping diplomacy between the US and the Middle East.

The Jordanian government owed 44.8 billion dinars in public debt as of February this year. That’s more than $63 billion. It’s not $36 trillion dollars like the figure blinking on the US debt clock. But for a country like Jordan, where debt makes up more than 92 per cent of GDP, according to the International Monetary Fund, that number hits differently. Jordan is now at a crossroads. With US financial aid frozen in President Donald Trump’s second term, and pressure mounting from lenders like the IMF, Jordan is now forced to do more with less. And that is in a region plagued by conflict, inflation, and youth unemployment. Jordan’s debt has been creeping up for years. And now, the country is an example of how aid and borrowing can become lifelines – but also long-term liabilities. It lacks a thriving industrial base, relies heavily on imports, and does not have a strong supply of natural resources. For decades, aid, especially from the US, served as a financial safety net. Today, we’re asking how did Jordan get here, and how it can get out of it. 

It's been a time of tumult on Wall Street – at the hands of the White House. US President Donald Trump made his plans for tariffs known on the campaign trail, but their scale has taken the world by surprise. The sweeping tariffs sent global markets into chaos. Then, with the announcement of a 90-day pause, things calmed down. But that hasn’t done much for perhaps the greatest fear among investors and the public: the possibility of recession. We’ve heard about so-called recession indicators – particularly as they pertain to the US. Here in the Middle East, though, the outlook might not be so grim. On this episode of Business Extra, we explore the basis of the recession fears and what that means for markets and, ultimately, consumers.

For more than a decade, Syria has been under international sanctions aimed at pressuring Bashar Al Assad’s regime. But there is a longer history of sanctions on the country and the broader Middle East. Sanctions can be used as a nudge – or shove – from government to government, usually during times of war. But their impact continues into periods of relative peace, trickling from the highest ranks of the ruling class down to the labourers and families that make up the backbone of a country’s economy. We have seen sanctions ravage Syria’s economy on and off since the 1970s, and hold throughout 14 years of civil war. But following the fall of Mr Assad in December 2024, Syria has a new government, a new head of state and a caretaker cabinet that has promised to rebuild. In this episode of Business Extra, we are looking at sanctions on Syria, the complexities of these measures and how the country’s economy might evolve after they are lifted.

Donald Trump has been vocal about his planned tariff war since setting foot on the campaign trail – in both his first and second times in office. Mr Trump began his first stint in the White House with a trade war against China. Some of those tariffs were preserved by Joe Biden’s administration when he began his term in 2020. But throughout his campaign, Mr Trump made clear he’d come back with tariffs at full force. What we’re seeing now is a return of that foreign economic policy – broadened, fast-tracked and intensified. On this episode of Business Extra, we’re hearing from experts about what this means in the political sphere, but also outside of it; for the everyday consumer perhaps uncertain about what a trade war can mean, and for economic machinery here in the region.

The start-up economy is booming in the Middle East, but despite progress, women remain underrepresented, as founders and as recipients of funding. While women-led start-ups make up 7 per cent of the region’s total, they receive about 1 per cent of available funding, Wamda statistics show. In this episode of Business Extra, host Salim Essaid speaks with three female founders in the UAE – Yasmin Rose of Rise Birth Centre, Yasmin Megerisi of House of Meena, and Thea Myhrvold, chief executive of Getbee – who share their experiences of navigating the start-up scene in the region. The host also hears from Hynd Bouhia, a start-up funding expert, who unpacks the numbers behind the gender gap in investment and the biases that continue to shape funding decisions.

This episode is sponsored by Al Masaood Automobiles The global automotive industry is undergoing dramatic transformation as owners seek more from their vehicles – and technology delivers. This is evident in the UAE where major distributors such as Al Masaood Automobiles are anticipating and catering to shifting customer demands. In this episode of The National’s Business Extra podcast, the company’s chief executive, Irfan Tansel, discusses the UAE’s current motoring landscape, as well as the future of mobility, as it experiences disruption across the industry, including the growth of electric vehicles, emergence of autonomous cars, and rising owner appetite for digitisation and connectivity. Drawing on more than 40 years in the automotive business, Mr Tansel tells host David Dunn about the evolving role of physical dealerships in a digital-first world, Al Masaood Automobiles’ significant sector successes and the enduring legacy of family favourite, the Nissan Patrol.

In the past decade, Gulf countries have prioritised innovation. It's part of a shift from their prime standing as oil economies to their new goal of using the advent of AI to enhance their economies all around.   It's getting attention from global tech hubs. A former Google chief recently said Saudi Arabia has the potential to become the next AI powerhouse. Only last month, Saudi Arabia's non-oil private sector economy recorded its strongest expansion in more than a decade.   Some of the biggest names in tech are pouring billions into innovation in Gulf countries, from physical infrastructure such data centres to partnerships that support virtual breakthroughs. In this episode of Business Extra, Salim Essaid hears from tech experts and leaders on the Gulf's AI appeal and where it's going.

Global leaders, policymakers and industry experts came together in Dubai this week at the World Governments Summit to discuss the most pressing challenges shaping the future. With a focus on sustainability, AI governance and global finance, this year's conversation set the stage for collaborative action in an evolving world, from economic resilience to technological innovation.   On this episode of Business Extra, we take you to the World Governments Summit, where The National's Editor-in-Chief, Mina Al-Oraibi, hears from Makhtar Diop, managing director of the International Finance Corporation.

It’s been a busy few weeks in the world of tech, with big names such as TikTok, Meta and X making moves in terms of policy and business models. Changes were announced as huge political shifts took place in the US – the start of President Donald's Trump's second term, being one – and some of them were moments for the history books. The timing is no coincidence. This episode of Business Extra hears a breakdown of these developments and explores the business motives driving them, both in the US and right here in the Middle East, with insights from our reporters and former insiders at Twitter and Meta.