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How Mashreq is empowering businesses to ‘rise every day’

Mashreq’s seasoned in-country teams combine deep local expertise with global capabilities to deliver sophisticated corporate and investment banking solutions

Gulf Business
Gulf Business

11 February, 2025

How Mashreq is empowering businesses to ‘rise every day’
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As one of the UAE’s leading financial institutions, Mashreq has long been a driving force in corporate and investment banking, empowering businesses with innovative solutions tailored to evolving market demands.

With a legacy spanning over 55 years, the bank continues to play a pivotal role in fostering economic growth across key industries, including automotive, construction, healthcare, and manufacturing.

As businesses navigate the rapidly changing financial landscape, Mashreq continues to reaffirm its commitment to supporting corporate partners in seizing opportunities for investment, expansion, and digital transformation, driven by its key approach: “Challenging our industry to help you challenge yours”.

Mashreq NEO CORP: Focused on empowering corporates

By leveraging cutting-edge digital platforms such as Mashreq NEO CORP and offering comprehensive global transaction banking services — including cash management, liquidity solutions, trade and structured finance — Mashreq enables businesses to optimise operations and drive efficiency.

Mashreq NEO CORP, for instance, is an innovative digital banking platform designed to enhance the corporate banking experience by offering a comprehensive suite of cash management and trade services.

By leveraging Mashreq NEO CORP, businesses can optimise their operations, make informed decisions with data-driven insights, and perform transactions anytime, anywhere, thereby driving greater financial efficiency.

Experienced teams: A key strength

Mashreq’s seasoned in-country teams combine deep local expertise with global capabilities to deliver sophisticated corporate and investment banking solutions.

Operating in regions such as the MENA, Asia, Europe, and the US, the bank leverages its international network, industry knowledge, and operational agility to provide bespoke solutions swiftly and effectively.

The bank’s commitment to innovation and client-centricity ensures that it remains a trusted partner, empowering businesses to “Rise Every Day”.

Read: Joel van Dusen on how Mashreq is driving innovation in banking

RTA unveils RAILBUS autonomous transport system

The RAILBUS carriage measures 11.5 metres in length, 2.6 metres in width, and 2.9 metres in height, with a capacity to accommodate 40 passengers and a top speed of 100 km/h

Gulf Business
Gulf Business

11 February, 2025

RTA unveils RAILBUS autonomous transport system
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The Roads and Transport Authority (RTA) of Dubai unveiled the RAILBUS system, a next-generation autonomous mass transit solution powered by solar energy, at its stand at the ongoing World Governments Summit (WGS) 2025.

Commenting on the system, Mattar Al Tayer, director general and chairman of the Board of Executive Directors of RTA, highlighted its alignment with key national strategies, including the UAE Net Zero Strategy 2050 and the Dubai Autonomous Transport Strategy 2030, which aims to transition 25 per cent of all transport in Dubai to autonomous modes by 2030.

“The project reflects RTA’s commitment to fostering public-private partnerships and supporting startups in developing advanced autonomous transport solutions. RAILBUS is solar-powered, cost-effective, and seamlessly integrates with Dubai’s existing public transport network,” Al Tayer said.

The system enhances first- and last-mile connectivity while offering a sustainable and efficient alternative to conventional public transport systems.

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Leaders review the project

Sheikh Mohammed bin Rashid Al Maktoum, Vice President and Prime Minister of the UAE and Ruler of Dubai, also reviewed the RAILBUS system during his visit to the RTA stand at WGS.

Accompanied by Sheikh Hamdan bin Mohammed bin Rashid Al Maktoum, Crown Prince of Dubai and Chairman of The Executive Council of Dubai, and senior officials, Sheikh Mohammed examined the innovative urban mobility project to enhance public transport efficiency and sustainability in Dubai.

Sheikh Mohammed bin Rashid Al Maktoum, Vice President and Prime Minister of the UAE and Ruler of Dubai, reviews the RAILBUS system during his visit to the RTa stand. Image: Dubai Media Office

RAILBUS’ carriage design and features

RAILBUS carriages incorporate cutting-edge, sustainability-focused technologies, ensuring maximum safety while reducing energy consumption and maintenance costs.

The vehicles utilise a lightweight structure made from recyclable materials, reducing overall weight to seven tonnes.

Each carriage measures 11.5 metres in length, 2.6 metres in width, and 2.9 metres in height, with a capacity to accommodate 40 passengers and a top speed of 100 km/h.

The interior design prioritises passenger comfort, featuring spacious seating, ambient lighting, and onboard Wi-Fi connectivity.

The modular design, supported by 3D printing technology, enhances scalability and allows for efficient deployment.

Al Tayer emphasised the cost advantages of the RAILBUS system, noting that its infrastructure and operational costs are 20-30 per cent lower than comparable transport systems. Additionally, its reliance on solar energy significantly reduces operational expenses, making it an environmentally sustainable transport alternative.

RTA will conduct comprehensive technical studies on the system over the next two years, with pilot locations under consideration for assessing operational feasibility and network integration.

Therme Dubai: A wellbeing destination

In addition to RAILBUS, Sheikh Mohammed reviewed the Therme Dubai project, a world-class wellbeing resort set to be the tallest of its kind globally. Developed with an estimated investment of Dhs2bn in Zabeel Park, the project aims to integrate urban biodiversity with wellness and entertainment.

The wellbeing resort will incorporate sustainable water treatment and energy-efficient cooling systems, with 90 per cent of thermal pool water being recycled. Additionally, 80 per cent of the facility’s cooling needs will be met through clean energy sources.

Read: Therme Dubai – What the world’s ‘tallest’ Dhs2bn resort will offer

54 IPOs raised $12.6bn in 2024 in MENA region, shows report

The MENA markets saw 25 IPOs during Q4 2024, raising $7.9bn in proceeds, the report shared

Gulf Business
Gulf Business

11 February, 2025

54 IPOs raised $12.6bn in 2024 in MENA region, shows report
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The Middle East and North Africa (MENA) region saw a notable surge in initial public offerings (IPOs) in 2024, with 54 listings raising a total of $12.6bn, according to the EY MENA IPO Eye Q4 2024 report.

This marks a 12.5 per cent increase in the number of IPOs and a 17.6 per cent rise in proceeds compared to the previous year.

Q4 Surge: 32 per cent more IPOs, 59 per cent higher proceeds

According to the EY report, the fourth quarter of 2024 was a standout, with 25 IPOs raising $7.9bn—representing a 32 per cent increase in the number of listings and a 59.4 per cent surge in funds raised compared to Q4 2023.

The spike in proceeds was driven by high-value IPOs such as Talabat Holding plc, OQ Exploration & Production, and Lulu Retail Holdings, which listed during the final quarter of the year.

Talabat, which went public on the Dubai Financial Market (DFM), raised the largest amount of proceeds in Q4, contributing 25.8 per cent of the total quarterly funds.

The second-largest IPO came from OQ Exploration & Production, which raised $2bn in the largest-ever IPO in Oman. Together, these two listings accounted for nearly half of the total Q4 proceeds.

Outside the GCC, Morocco’s Compagnie Marocaine de goutte a goutte et de pompage (CMGP) and Egypt’s United Bank also made their market debuts during Q4.

Saudi Arabia leads the pack with 17 listings in Q4

Saudi Arabia continues to dominate the region’s IPO activity. In Q4 2024, the kingdom accounted for 17 of the 25 IPOs, raising a total of $1.2bn. Of these, five listings took place on the Tadawul Main Market, collectively raising $1.1bn.

The highest proceeds came from Arabian Mills for Food Products Company and United International Holding Company, each raising $300m.

In total, IPO activity in Saudi Arabia was driven by a diverse range of sectors, including commercial and professional services (20 per cent), materials (12.5 per cent), food and beverages (10 per cent), and healthcare (10 per cent).

UAE’s robust performance and ESG focus

The UAE saw strong IPO activity as well, with four new listings during Q4 2024. On the Abu Dhabi Securities Exchange (ADX), Lulu Retail Holdings PLC raised $1.7bn and ADNH Catering PLC raised $235m.

Additionally, the DFM welcomed Talabat Holding plc, which raised $2bn, continuing the trend of high-value listings in the region.

As the UAE moves toward its net-zero 2050 target, the country has also introduced a law requiring businesses to report carbon emissions, starting in May 2025. The law aims to encourage companies to adopt decarbonisation strategies, including renewable energy and carbon offsetting. This emphasis on sustainability is expected to play a key role in shaping IPO market dynamics as companies align with the UAE’s environmental goals.

Positive outlook for 2025 IPOs in MENA region

Looking ahead, the MENA IPO market is poised for continued growth. EY’s Gregory Hughes, IPO and transaction diligence leader, noted that Q4 2024 accounted for 46 per cent of the total IPO activity in the region for the year, underscoring the strong momentum. Saudi Arabia’s Nomu Parallel Market remains a key driver, accounting for 50 per cent of Q4 listings.

In 2025, 38 companies and 22 funds are expected to list across the region’s exchanges. Among the GCC countries, Saudi Arabia leads with 27 companies in the pipeline, followed by the UAE with three and Qatar with one.

Companies such as Etihad Airways and Amanat Holdings from the UAE, and Panda Retail Company and Riyad Capital from Saudi Arabia, are among those considering IPOs in the coming year.

The MENA IPO market is expected to remain a key player globally as regional exchanges continue to innovate and attract investors with strong governance and sustainability initiatives.

Brad Watson, EY MENA strategy and transactions leader, says: “The year 2024 ended on a strong note with 54 IPOs in total, the highest in MENA over the past seven years. The region has been one of the busiest when compared to the global market. The momentum is expected to continue into 2025, with companies from various sectors announcing their intention to come to market.

“In addition, regional exchanges are actively working on initiatives to promote family-owned businesses and small to medium enterprises, aiming to strengthen the capital markets infrastructure and boost future liquidity. The market is also anticipating the Arena platform from the DFM, which is expected to launch in 2025.”

Read: Global M&A market poised for a comeback in 2025, finds report

The future of workplace wellbeing: Bupa Global’s Dean Pollard shares insights

Bupa Global Middle East and Asia’s general manager shares trends shaping employee health and productivity

Neesha Salian
Neesha Salian

11 February, 2025

The future of workplace wellbeing: Bupa Global’s Dean Pollard shares insights
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As workplace wellbeing evolves beyond traditional benefits, businesses are embracing holistic health initiatives to drive employee satisfaction and productivity.

With digital health solutions, flexible working arrangements, and expanded mental health support becoming essential, how can companies maximise their return on wellbeing investment (ROWI)? Bupa Global‘s GM for the Middle East and Asia Dean Pollard weighs in on the key trends shaping the future of workplace wellness in the UAE and beyond.

How have workplace wellbeing initiatives evolved in recent years, and what major trends do you foresee shaping wellbeing programmes in 2025 and beyond?

Wellbeing initiatives in the workplace have shifted immensely in recent years, moving from traditional benefits focused on physical health to holistic programmes that address mental, emotional, and social wellbeing.

This shift reflects an evolved understanding of the impact of employee health on company success. Key changes include the personalisation of wellness initiatives to cater to individual employee needs, as well as the integration of mental health support services such as therapy and stress management programmes.

Additionally, the adoption of flexible working arrangements to promote work-life balance has been significant.

The UAE’s recent introduction of mandatory basic health insurance for all private sector employees across the country, which came into effect in January, is crucial in the evolution of wellbeing programmes.

While employers in Abu Dhabi and Dubai already fulfil this mandate, the newly announced measure will extend the requirement to the remaining five emirates.

In the UAE, a government-driven shift to digitisation and digital health solutions, including telemedicine, virtual consultation services and online support groups, has become widespread, making mental health more accessible. In the coming years, wellbeing programmes will become even more digitalised and preventative.

Digital health solutions, such as wellness apps and telemedicine, will provide employees with convenient, real-time access to health resources. Similarly, preventive health measures will gain prominence, encouraging employers to adopt regular health screenings. These adaptations meet employee needs as 88 per cent of employees seek more frequent health screenings and access to digital wellbeing tools.

Moreover, employers are continuing to place diversity and inclusion high on their list of priorities when considering wellbeing initiatives in order to attract and retain the best talent.

Based on Bupa Global’s recent survey, what key trends should businesses focus on to maximise their return on wellbeing investment (ROWI)?

Our recent survey underscores the importance of adopting a holistic approach to workplace wellbeing to maximise the ROWI. Businesses must prioritise comprehensive programmes that address physical, mental, and emotional health; as our survey results highlight, four in five (85 per cent) of UAE employees expressed a strong desire for improved mental health resources – a clear indication that holistic health, including mental wellbeing, has become a priority.

Companies that offer initiatives such as stress management workshops and mental health resources have reported tangible benefits, as seen by 94 per cent of UAE companies who reported that wellbeing programmes positively impact employee performance and productivity. Furthermore, flexible working arrangements have emerged as a critical factor in improving ROWI, with 85 per cent of employees sharing that they seek out these policies as part of their wellbeing packages.

Another trend is the expansion of health benefits, with a large majority (89 per cent) of employees prioritising expanded insurance benefits, reflecting a demand for greater security and access to care.

Our survey also revealed that employees are increasingly advocating for more wellbeing tools, with 88 per cent seeking more frequent health screenings. Similarly, investing in mental health resources remains paramount, as it addresses a crucial aspect of employee wellbeing and contributes to a more resilient and motivated workforce. Organisations that adapt their offerings in line with employee needs are more likely to attract and retain top talent that contributes to business success.

Can you elaborate on the tangible benefits companies have observed, such as improved productivity and engagement, as highlighted in the survey findings?

Businesses are increasingly recognising the direct correlation between wellbeing and performance, with wellbeing initiatives emerging as indispensable components of organisational strategy. Employees are no longer viewing these initiatives as perks but rather as essential components of their overall job satisfaction and health.

Companies that prioritise employee wellbeing have reported notable improvements in productivity, with employees demonstrating higher focus and efficiency. More than half (53 per cent) of the senior leaders surveyed reported significant improvements in productivity after adopting wellbeing initiatives. These gains are often attributed to reduced stress levels and improved overall health, allowing individuals to perform at their best. Enhanced engagement is another critical outcome, as nearly half (49 per cent) of employers observed the highest level of employee engagement, demonstrating that employees who feel their wellbeing is being prioritised are more likely to remain committed and motivated. This heightened engagement fosters a positive workplace culture, which in turn drives collaboration and innovation.

Our survey findings also highlight reductions in absenteeism as a key benefit, with 36 per cent of senior leaders reporting a decrease. By proactively addressing both physical and mental health, employers can anticipate fewer instances of sick leave This proactive approach also extends to employee retention, as 29 per cent of organisations who offer wellbeing programmes reported lower turnover rates, driven by employees feeling valued and supported.

What practical steps can companies in the UAE take to implement effective wellbeing initiatives and ensure they see measurable results?

To implement effective wellbeing initiatives, companies in the UAE should assess the specific needs of their employees to ensure that initiatives are both relevant and tailored to the workforce. Comprehensive programmes addressing physical health, mental wellbeing, and a work-life balance should then be designed, incorporating services such as fitness programmes, access to mental health support, flexible working arrangements and digital health solutions to improve accessibility and engagement.

Companies should also look to build a supportive workplace culture, where employers endorse and participate in these initiatives and encourage employees to prioritise their health. Monitoring and evaluating the impact of these programmes is essential, and businesses should track key metrics such as employee satisfaction, participation rates, and productivity to make data-driven improvements.

The UAE’s recent introduction of mandatory basic health insurance for all private sector employees across the country will not only ensure measurable results but present an opportunity for companies to build on this regulatory change.

Our research shows that 93 per cent of employees prioritise wellbeing initiatives as part of their job search; therefore by providing supplemental health benefits and wellness programmes, businesses can differentiate themselves as employers of choice.

Looking ahead, it is gratifying to see that the commitment to wellbeing is clear, as nearly nine in ten employers (88 per cent) plan to increase their investment in wellbeing programmes over the next year.

Notably, more than one in five (22 per cent) organisations anticipate raising their wellbeing budgets by over 15 per cent. These steps are necessary for companies to effectively implement wellbeing initiatives that lead to a Return on Wellbeing Investment (ROWI) and ensure measurable results.

Read: Lessons in wellbeing – Creating a conscious planet with Sadhguru

UAE to install over 500 EV charging stations by year’s end

The EV charging network expansion is designed to support the widespread adoption of EVs and align with the UAE’s broader sustainability goal

Gulf Business
Gulf Business

11 February, 2025

UAE to install over 500 EV charging stations by year’s end
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The UAE is set to install more than 500 electric vehicle (EV) charging stations by the end of 2025 as part of its ongoing efforts to promote clean transportation and reduce carbon emissions, according to Sharif Al Olama, Under-Secretary for Energy and Petroleum Affairs at the Ministry of Energy and Infrastructure.

Speaking on the sidelines of the World Governments Summit’s preliminary day, Al Olama revealed that the Ministry of Energy and Infrastructure, which owns 50 per cent of UAEV, successfully installed more than 100 EV chargers across the country in 2024.

Supporting the adoption of EVs in the country

The ministry is rapidly expanding the network to meet the increasing demand for electric vehicles.

Al Olama emphasised that the initiative follows an integrated approach, developed in collaboration with the private sector and local authorities, to ensure the establishment of a robust infrastructure.

This network expansion is also designed to support the widespread adoption of EVs and align with the UAE’s broader sustainability goals.

In addition to the expansion of EV infrastructure, Al Olama noted that the ministry aims to increase the country’s renewable energy capacity to over 14 gigawatts by 2030, reinforcing the UAE’s commitment to clean energy development.

Heriot-Watt University Dubai secures UAE accreditation for undergrad, postgrad programmes

The granting of Initial Programme Accreditation for all 71 programmes is a significant milestone for Heriot-Watt University Dubai

Gulf Business
Gulf Business

11 February, 2025

Heriot-Watt University Dubai secures UAE accreditation for undergrad, postgrad programmes
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Heriot-Watt University Dubai announced on Thursday that all its current undergraduate and postgraduate programmes have received Initial Programme Accreditation from the UAE’s Ministry of Higher Education and Scientific Research (MoHESR) through the Commission for Academic Accreditation (CAA).

The accreditation marks a milestone for the university, which has been a key player in the UAE’s higher education sector for two decades.

“Over the past eighteen months, we have worked with the CAA on the federal accreditation of our current undergraduate and postgraduate programmes,” said Professor Dame Heather McGregor, provost and Vice Principal of Heriot-Watt University Dubai. “The granting of Initial Programme Accreditation for all 71 programmes is a significant milestone. This achievement reflects our commitment to academic excellence, quality assurance, and regulatory compliance. It has been a complex yet rewarding process, made possible by the dedication of our faculty, staff, and colleagues across our global network.”

Supporting Heriot-Watt University Dubai students’ education journey

“With this accreditation, our graduates can seamlessly pursue further degrees at CAA-accredited universities. It also enhances their opportunities to work in government and government-related sectors across the GCC and the MENA region. We are grateful to the CAA for their collaborative approach in supporting our efforts,” she added.

The CAA serves as the UAE federal government’s quality assurance agency for higher education, ensuring that licensed institutions and their programmes adhere to internationally recognised academic quality standards.

This programme accreditation follows the university’s Initial Institutional Licensure, granted by the UAE’s Ministry of Education in 2023.

Heriot-Watt University Dubai was the first British university to establish a campus in Dubai’s Academic City, initially offering three programmes with a student population of 120.

Today, the university has over 5,000 students and is recognized as one of the top UK universities in Dubai for business and industry collaboration. It continues to equip students with the skills and experience necessary to excel in their respective fields both regionally and internationally.

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