Latest news with #BusinessExtra
The National
3 days ago
- Business
- The National
Donald Trump's new tariffs and the Middle East
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.
The National
16-07-2025
- Business
- The National
How to own property in Saudi Arabia
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.
Travel Weekly
10-07-2025
- Business
- Travel Weekly
American creates AAdvantage Business tier for its highest spenders
American Airlines on July 21 will add a new tier to its AAdvantage Business program. It's called AAdvantage Business Select and is for companies that spend at least $250,000 in a calendar year. AAdvantage Business Select offers savings of up to 4% on eligible fares, Preferred Group 5 boarding and immediate access to company-earned miles for free travel and employee transfers. American requires companies that don't qualify for Select to have a minimum of five registered travelers and spend at least $5,000 on eligible flights over the last 12 months before it can use miles. All AAdvantage Business members continue to earn one AAdvantage mile for every $1 spent on eligible travel, and registered travelers can earn additional loyalty points. American introduced AAdvantage Business in October 2023 for small and midsize companies as a replacement for the Business Extra program. Since launching the program, American has made other changes to AAdvantage Business. Last October, the carrier added policy control, enabling travel managers to set corporate travel policies in the program's travel management portal. The carrier in July 2024 expanded point-accrual capability to bookings in all channels after limiting it to direct bookings. Source: Business Travel News
The National
21-05-2025
- Business
- The National
The UAE's race to 'make it' here
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.
The National
29-04-2025
- Business
- The National
Snapchat surpasses 900 million monthly active users
While competitors like Meta are fighting lengthy battles in court, Snapchat is taking a victory lap after surpassing 900 million monthly active users. 'As Snapchat has grown over the years, we've seen this idea continue to resonate with our community – and we love seeing all the silly, fun and imperfect moments Snapchatters share with each other,' read a news release from the company on Tuesday celebrating the milestone. 'Thank you to the global Snapchat community for being part of this journey with us. Happy Snapping!' California-based Snapchat, which now simply goes by Snap, was founded in 2011 by three Stanford University students. Originally called Picaboo, the idea behind the platform was the antithesis of everything social media seemed to stand for at the time: content produced by those who used the app would disappear rather than being permanent. That difference, the emphasis on social media content with an expiration date, proved appealing. It grew by leaps and bounds, and in 2013, Facebook, the entrenched social media leader at that point, took notice. Meta's chief executive Mark Zuckerberg attempted to purchase Snapchat, but the platform opted against being acquired. Several years later, however, Meta's Instagram platform rolled out a feature called Stories, which showed temporary content from users for 24 hours. The similarities between the two caused bad blood between Snap and Meta. Meta's attempted purchase of Snap has come full circle as the company is currently fighting an antitrust suit. 'I think if we would have bought them, we would have accelerated their growth, but that's just speculation,' Mr Zuckerberg said on the witness stand in Washington when asked about Snapchat as Federal Trade Commission lawyers tried to show a pattern of Meta trying to buy competitors, rather than innovate. Although Snap's 900 million monthly active users is nothing to scoff at, it pales in comparison to Facebook's estimated three billion active users, as well as TikTok's more than one billion users. Yet analysts point out that Snap's user base has limited churn and has proved incredibly loyal over the years. In a 2024 interview with The National, Hussein Freijeh, vice president and general manager for Snap's Middle East and North Africa office, said that active users in the region check the platform about 45 times per day. Mr Freijeh also said that Snap is particularly popular throughout the Middle East as the region goes 'through a massive social and economic transformation'. 'Within that transformation, we're seeing the GCC community is really protective of the sense of community, and their relationships with their friends and family,' he said during an interview with The National's Business Extra podcast at Snap's Dubai office. A 2022 social media report from by University of Oregon professors Damian Radcliffe and Hadil Abuhmaid also highlighted Snap's appeal in the region. 'Snapchat's community in the Mena region continues to grow and the Middle East remains a major market for the app,' read part of the report. Snap was also an early adopter of augmented reality (AR) to enhance the platform, offering filters to enhance user creativity. Those successful implementations of AR have also proven to be appealing to brands seeking to advertise to younger audiences on the platform. Both TikTok and Instagram have followed in Snap's path in adopting AR features.
