Business Extra

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• The $2.2 trillion question: What if the Iran War never happened? 17.06.2026 19นาที

  The financial cost of the Iran war is becoming clearer as according to the latest study by the Institute for Economics and Peace, the conflict is costing the global economy $2.2 trillion in annual GDP. The US alone had spent $25 billion within two months of the war beginning, and sought a further $200 billion from Congress to continue operations. Economists estimate the long-term cost at around $1 trillion. That cost does not stay on a balance sheet. It moves through supply chains, interest rates, insurance premiums and shipping costs until it arrives in grocery bills, fuel prices and mortgage repayments for households around the world. In the latest episode of Business Extra, host Salim A. Essaid speaks with Steve Killelea, founder and executive chairman of the Institute for Economics and Peace, about how a war in the Middle East ends up affecting ordinary people, which costs hit hardest and fastest, and what $2.2 trillion back in the global economy would actually look like for the people who never had a say in the decision to go to war.
• World Cup economics: Ticket prices, tourism and visa restrictions 10.06.2026 16นาที

  The 2026 Fifa World Cup was supposed to be a record-breaking economic windfall for the United States. But as the tournament gets under way, the numbers reveal a more complicated story. Top-tier tickets for the final are going for more than $10,000, nearly seven times what the co-hosts' bid book originally promised. Hotel occupancy in some host cities, meanwhile, is tracking below normal summer levels. And the international tourism boom that was supposed to drive billions into local economies is being complicated by visa restrictions, geopolitical tensions and dynamic pricing that has left fans unable to afford tickets. The contrast with Qatar 2022 is stark. When the Middle East hosted its first Fifa World Cup, football fans could attend group stage matches for a fraction of the cost, with airlines laying on extra flights and some supporters watching two games a day. In this episode of Business Extra, The National's Kyle Fitzgerald speaks to Victor Matheson, professor of sports economics in the US, to look at the economics of this tournament, and what it means for the future of mega events, including the 2034 World Cup in Saudi Arabia. The conversation covers why Fifa's dynamic pricing strategy may have backfired, whether the promised $30 billion economic boost will materialise, and what organisers of future tournaments need to learn from 2026.
• Why so few UAE SMEs become major companies 03.06.2026 31นาที

  Small and middle-sized companies (SMEs) make up more than 95 per cent of businesses in the UAE and contribute more than 60 per cent of the country’s non-oil GDP. But despite that, the UAE still has relatively few SMEs growing up to become large private companies. Founders have been saying that starting a business is much easier than scaling one, and in some cases, even easier than closing one. As businesses grow, they tend to encounter the same roadblocks. Access to growth financing can be difficult, delayed payments create cash flow pressure, and operational complexity can take focus away from growth. Many SMEs also struggle to compete with larger players for contracts and talent. So, while the UAE has built a strong start-up culture, the next challenge is helping more of those businesses grow into sustainable midsized companies. In this episode of Business Extra, host Salim A Essaid is looking at what is holding businesses back once they move beyond the start-up phase. And what needs to change for more UAE-founded companies to become long-term regional and global success stories? He speaks with two guests approaching this challenge from very different angles. Karolos Travassaros, chief portfolio officer at the Emirates Growth Fund, who explains the concept of the missing middle and what patient, minority capital can do to help SMEs cross that gap and become national champions. Jen Blandos, founder and chief executive of Female Fusion, a UAE-based community of women entrepreneurs, also joins to speak from 17 years of experience as a business owner in the UAE about the structural frustrations that may hold SMEs back.
• Syria’s investment boom: Real opportunity or political mirage? 20.05.2026 18นาที

  Syria is becoming part of the economic conversation again. Over the past few weeks, there has been a lot of talk about investment and reconstruction, from the first Syrian-Emirati Investment Forum to upcoming business events in Damascus for the private sector in early June, and even discussions in Washington about Syria's economic future. UAE officials and business delegations have met the Syrian leadership, and Gulf investors are studying projects tied to logistics, housing and industrial development. But beyond these announcements, the reality on the ground remains extremely difficult. The country is dealing with damaged infrastructure, banking restrictions and a struggling economy after more than a decade of war. Millions of Syrians still rely on humanitarian aid, and the UN's World Food Programme recently warned it is scaling back some operations due to funding shortfalls. In this episode of Business Extra, host Salim A Essaid speaks to Jamal Almahamid, chief executive of Palmira Software House, live from Damascus, where he attended the Syrian-Emirati Investment Forum. Mr Almahamid describes a country where the energy and optimism among investors is real, but where banking restrictions, infrastructure gaps and the need for clearer regulations mean serious investors will need patience and a long-term vision.
• Is the UAE's exit the beginning of the end for Opec? 13.05.2026 24นาที

  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.
• How the UAE's Aleria is partnering with Nvidia to own its AI future 06.05.2026 17นาที

  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.
• UAE property: Experts address what is next for the market 29.04.2026 1ชม. 1นาที

  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. 
• What the energy crisis reveals about how we power world 22.04.2026 31นาที

  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.
• Uncertainty is certain: Inside the IMF and World Bank Spring Meetings 15.04.2026 22นาที

  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.
• Beyond oil: How the Iran war is already hitting wallets 08.04.2026 15นาที

  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.
• Inside Borouge: The UAE's petrochemical powerhouse 01.04.2026 11นาที

  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.
• CERAWeek in the shadow of war: How the conflict is reshaping the global energy conversation 26.03.2026 44นาที

  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.
• How the Iran war is threatening water security in the Gulf 18.03.2026 15นาที

  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.
• How UAE and Gulf residents can better manage their money amid Iran war turmoil 11.03.2026 19นาที

  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. 
• How global energy security is being reshaped amid US-Israel and Iran attacks 04.03.2026 23นาที

  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.
• The Ramadan economy: How UAE consumers are spending in 2026 25.02.2026 24นาที

  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.
• Understanding Sovereign AI and why governments are racing to build it 11.02.2026 21นาที

  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.
• Inside the UAE job market: What you need to know about hiring in 2026 29.01.2026 41นาที

  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.
• How Adnoc Distribution is scaling profits and sustainability 26.01.2026 6นาที

  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.
• How Adnoc Gas is expanding its network to meet AI data centre demands 24.12.2025 8นาที

  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.