Eclipse Foods

Prince Khaled’s KBW Ventures invests in US-based Eclipse Foods

The Oakland-based brand raised over $40m in Series B funding

spinneys introduces meal deals

Spinneys launches value-for-money ‘meal deals’ for customers

The supermarket’s latest offering caters to individual food preferences, including vegan and gluten-free dietary requirements

McDonald’s

McDonald’s promotes Ian Borden to CFO in series of appointments

Borden first joined the McDonald’s system in Canada in 1994 and served in several international roles

Careem acquires Munch-On in the UAE

Careem acquires food delivery platform Munch:On in the UAE

Munch:On will stop daily operations and the offering will be rebuilt on the Careem app

lab-grown food

Could lab-grown ingredients could be the future of food?

Stakeholders are looking at ways to reduce the environmental impacts of factory farming and animal agriculture

Vikas khanna NFT book

Michelin Star chef Vikas Khanna launches NFT of his book in Dubai

Akshaya.io will create non-fungible tokens of the book which will enable those interested to own the original NFT along with physical book

Food

Food companies falling short of carbon-cutting goal, study finds

A report by AlixPartners found that food and beverage manufacturers, suppliers and retailers may manage to reduce emissions by 29 per cent by 2030

food Security _ ACG

Arab Coordination Group announces $10bn package to support food security goals

The funds from the group will be deployed over the next three years to cover the import costs of seeds, grains and fertilisers and alleviate food supply challenges

Michelin Guide Dubai

Revealed: Dubai’s first Michelin-starred restaurants

The inaugural Michelin Guide Dubai 2022 was revealed with 11 Michelin-starred and 14 Bib Gourmand restaurants

wheat

UAE suspends re-export of Indian wheat for four months

The Ministry of Economy said that the decision comes in view of the international developments that have affected trade flows

Jones the Grocer

Jones the Grocer’s Yunib Siddiqui on the retail chain’s expansion

Jones the Grocer has 24 stores and cafes across the Middle East. Yunib Siddiqui, the CEO spoke to Gulf Business about growing his food retail business

farms

Countries are redeveloping farms that could be cutting carbon

The sites under study stored an estimated 403 million tons of CO₂ – or 35 per cent less than they might have taken up without re-cultivation

food

New study showcases impact of digital transformation on the UAE’s food sector

The Oracle Food and Beverage survey polled 5,700 global consumers including 526 within the UAE

Saudi food delivery firm Jahez seeks to acquire rival Chefz

Jahez is the biggest locally owned food delivery group in Saudi Arabia

saudi coffee

Sovereign wealth fund PIF launches Saudi Coffee Company

Domestic annual Saudi coffee consumption is forecast to reach 28,700 tons by 2026

Agthia Group

UAE’s Agthia Group posts 64% year-on-year rise in net profit for Q1 2022

Agthia’s quarterly net revenues surpassed Dhs1bn for the first time since inception

KFC Operator

Middle East KFC operator picks banks for dual listing

Americana operates restaurants for brands including Baskin Robbins, Costa Coffee and TGI Fridays as well as KFC and Pizza Hut, according to its website

Agtech Red Sea farms

Agtech Red Sea Farms completes $18.5m fund raise

The agtech company will use the funds for its global and regional expansion plans, including the expansion of its fresh produce business in the GCC

Spinneys food for life

Spinneys joins ‘Food for Life’ initiative that aims to halve food waste by 2030

Spinneys customers are being encouraged to repurpose leftovers via easy tips and tricks to make their household food go further and last longer

Khalifa Fund, UAE FBMG launch second edition of F&B Innovation Lab

The programme will incubate the entrepreneurs with the most viable and scalable food and beverage concepts, rooted in sustainability and health

The SME Story: Ian Ohan, founder and CEO of Locale

Locale allows foodpreneurs to thrive and reconnect with the communities in which they operate

UAE’s Right Farm raises $2.8m in seed funding round

DisruptAD, ADQ’s venture platform, and Enhance Ventures, the venture studio for the MENAPT region, led the seed equity funding round

Saudi’s Shrimp Nation plans UAE expansion with Dhs10m investment

The seafood restaurant chain has 18 branches in Saudi Arabia and plans to open more across the UAE, Bahrain, Oman, Qatar, Jordan and Egypt

Joe & The Juice enters Middle East market ahead of IPO, CEO says

The Copenhagen-based chain will open its first stores in Qatar and Dubai next quarter before setting up shop in Saudi Arabia, Kuwait, Bahrain and Oman by the end of the year

Agthia’s shareholders approve 8.25% cash dividend for H2 2021

The total dividends announced by Agthia for 2021 amounted to Dhs130.6m, reflecting a 9.9 per cent rise over the previous year

In pics: UAE’s one billion meals initiative begins distribution in five countries

The Mohammed bin Rashid Al Maktoum Humanitarian and Charity Establishment is distributing food parcels containing basic staples such as flour, rice, oil, sugar and dates to beneficiaries

Getty Images

How the food industry can evolve its sustainable business models

Almost 50 per cent of global consumers are considering sustainability attributes when purchasing food and beverages

GrubTech and Paymob partner to modernise Egypt’s F&B payment ecosystem

An integrated payment solution will benefit not just restaurateurs, café owners, and cloud kitchen operators but also consumers

Getty Images

Dubai imported 7.9 million tonnes of food in 2021

It included 286,673 food shipments and over 1.7 million food products

E-commerce

Saudi grocer BinDawood buys majority stake in online developer

The deal is expected to close in the second half of the year