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BUSINESS5d agoAM Markets Need to Know: Trump weighs Iran conflict, AI trade faces reversal, and moreMarket insights include considerations of potential US involvement in Iran and a possible reversal in AI-related trade trends. These factors are significant for global financial markets.Seeking Alpha Tech
BUSINESS5d agoStrait of Hormuz crisis fuels Cairo's plastic recycling businessIn the heart of the Egyptian capital Cairo, within the labyrinthine streets of the Manshiyet Nasser district, nearly 120,000 residents process a third of the megacity's waste every day. Long marginalised, these informal recycling specialists are now undergoing a dramatic transformation due to geopolitical tensions in the Strait of Hormuz, through which polyethylene from the Gulf usually passes.France 24 [en]
BUSINESS5d agoHis grandfather built a business in 1982. Hassan Tamimi Dubai-it into a new direction at age 15Dubai: When you’re tasked with growing your family’s business, the pressure can be a little daunting. Canadian national Hassan Tamimi, 29, is the Group CEO of Al Tannan Group Holding. For him, taking the family’s business forward means respecting its legacy, but also being flexible enough to Dubai-it – achieve excellence, take risks, and seize opportunities. Tamimi said: “I was born in Canada, but I come from a family with a long entrepreneurial history in Dubai. My grandfather established Al Tannan Group here in 1982, so although I didn’t spend my entire life in Dubai, the city has always been deeply connected to my family’s story.” Tamimi moved to the UAE in 2010, when he was 13 years old. Growing up, he watched his grandfather and father work hard, and expand their company: “At its core, it was a traditional trading business focused on household products. My father later diversified the business further into areas such as kitchen appliances and home décor. When I became involved, the business was still largely centred around household products.” An unusual pivot But that wasn’t the direction he wanted to pursue. Living in Dubai had expanded his innate curiosity. Tamimi said: “Dubai gives you permission to think internationally from the beginning. You are surrounded by people from almost every part of the world. Trends from Japan, Korea, Europe, America and the wider Middle East can coexist here, and consumers are extremely aware of what is happening globally.” While he was still in high school, he developed an interest in something far left field from what his family had been selling for decades – he discovered collectible figures. Specifically, anime. Convincing his family he would like to branch out was a challenge. “You want to sell a figurine for the price of a frying pan?” was his father’s initial reaction. But with his family’s support, he began working on a business idea around novelty and nostalgia-driven products. He said: “I grew up around business, so I was always looking at why people bought things and what made something valuable to them. I was also interested in collectibles from a young age. Later, travelling – particularly to Japan – completely changed the way I looked at retail. I saw how anime, collectibles and characters weren’t treated simply as children’s products. There was an entire culture around them. People formed identities and communities around the things they loved.” That made him ask: why couldn’t he create that same kind of experience in the Middle East? A new chapter: The Little Things The short answer is, he could – and he did. Tamimi is founder of The Little Things, a pop culture retail concept that is responsible for introducing popular brands like Pop Mart and Bandai Namco, through exclusive partnerships, to the UAE. The long answer is that it took a lot of patience to see the idea through. To Dubai-it, he had to believe in the potential of the niche category before everyone else could see it. He said, in the early 2010s, “anime, collectibles and fandom culture were nowhere near as mainstream in the region as they are today. The community was there and it was growing, but the market was still relatively small – many people simply saw collectibles as toys.” Add to that, he was a teenager when he started his business. In the UAE, you cannot register a company to a minor under the age of 18, but it was still possible at the personal court. So, Tamimi went with his father to register The Little Things under his name. He became a business owner at 15 – he had to prove himself, while also demonstrating there was a serious and growing market of adult collectors, anime fans and enthusiasts. Tamimi’s father gave him the initial capital he needed, “but after that, I wasn’t simply given more money whenever I needed it. I had to learn how to save, reinvest and build a safety net.” He learned to be disciplined, and was encouraged by his father to make mistakes, understand what went wrong, and adapt. Dubai was the perfect place for incubating his idea: “For me, Dubai wasn’t simply where the business was headquartered. It became the testing ground for what the business could become internationally.” A growing community Dubai also helped educate him about the unique, niche world of pop culture collectibles. Over the years, he met a growing community of collectible enthusiasts. He said: “In the early days, people would come into the store and start sharing stories with us, about a character they grew up with, an anime they loved, or a collectible they had been searching for, for years. We listened, shared the excitement and got to know them.” Over time, he said many of those customers became familiar faces, then friends, and eventually, started to feel like family. That’s when he realised his business idea could be much more than just a store. “The products themselves carry memories. Something as simple as a figure can take someone back to their childhood or remind them of a story or character that meant something to them. But what made it powerful was having a place where people could share that passion with others who understood it.” Tamimi’s vision grew as he understood people’s emotional connection with collectibles. At The Little Things, “we became much more intentional about creating spaces where people could meet, discover products, attend events and share what they loved.” Community became the heart of his business. Staying curious Today, adult collectibles have exploded in popularity, with the luxury collectibles market forecast to grow by 7.31% in the UAE by 2028, according to market research platform Statista. Tamimi said he has experienced moments that validated his vision: “One was the release of the exclusive Black Grendizer collectible (an exclusive Tissot watch with collector statues). Customers came from different parts of the world for it, and the pieces sold out within 48 hours. Moments like that demonstrated that Dubai could become a genuine destination for collectors.” Looking ahead, Tamimi wants to scale Al Tannan Group into a stronger regional and international business, but not simply for the sake of growing bigger. He said: “My grandfather’s generation built the foundation. My father’s generation diversified it. My responsibility has been to respect that legacy while understanding that the way you did business 20 or 30 years ago cannot simply be copied today.” He’s going back to what helped him zero in on a unique business idea and Dubai-it, before it became a global trend: curiosity. Tamimi said: “I don’t believe you should blindly chase every opportunity. But I do believe you should stay curious enough to recognise the right one when it appears.”emirates247 · united arab emirates
BUSINESS5d agoStock futures lower as Iran deal prospects fadeStock futures are lower due to fading prospects for an Iran deal. This indicates a market reaction to developments in international negotiations concerning Iran.Seeking Alpha Tech
BUSINESS5d agoOil prices are climbing on concerns about an escalating Iran warStock markets recorded losses on Thursday as fresh inflation fears came into focus following a jump in oil prices. This comes amid reports that US President Donald Trump was considering further strikes on Iran ahead of next month's US midterm elections.EuroNews [en]
BUSINESS5d agoOil majors look beyond Middle East war in pursuit of region’s vast reservesWestern groups seek new investment opportunities despite chaos and heightened risks caused by conflict with IranFinancial Times
BUSINESS6d agoOil gains as Middle East hostilities stoke supply worriesCNBC
BUSINESS6d agoUS stocks slide as oil prices fluctuate over renewed Iran war fearsOil prices rose on fresh concerns about Middle East supplies, before falling on the possible release of more reserves.Al Jazeera [en]
BUSINESS6d agoCan the Gulf aviation superhub model survive the war?For decades, the Gulf superhubs of Dubai, Doha and Abu Dhabi performed an improbable trick. They redirected millions of people travelling between the West and Asia to connect through their airports. Last year, the three airports handled about 182 million passengers, three times the traffic at Hong Kong airport. Dubai alone handled 95.2 million, the highest ever recorded by an airport. The Gulf’s hub-and-spoke model – funnelling passengers through a central airport to multiple destinations –...South China Morning Post
BUSINESS6d agoSupertanker chartered from Gulf Coast to China for $76 million, 10 times higher than pre-war levelShipping costs have exploded as the war in the Persian Gulf has led to a shortage of available tankers.CNBC
BUSINESS6d agoUS oil trader takes $2bn gamble on tankers as carriers steer clear of HormuzAmerican security push aims to spur Asian refining as diesel shortages stoke inflationFinancial Times
BUSINESS6d agoDIY fertilizer is a blessing as farmers face steep prices due to the Iran warIt's hard enough being a small-scale farmer. Then the Iran war drove up fertilizer prices. So farmers are using a traditional Asian recipe to make their own. They call it a "labor of love."NPR News
BUSINESS6d agoThree years after October 7 attacks, Israel's economy shows its strengthAfter shrinking briefly in the aftermath of the October 7, 2023 attacks, Israel's GDP is predicted to grow by 4 percent this year. The country's tech sector – specifically its defence startups – has played a big part in this performance but challenges, notably demographic ones, are on the horizon. Meanwhile, the destruction caused by Israel's war in Gaza has reduced GDP per capita in the Palestinian enclave by 83 percent and reconstruction plans there have yet to begin.France 24 [en]
BUSINESS6d agoHow a Shadow Economy in Asia Is Keeping Iranian Oil FlowingCompanies continue to service a “dark fleet” of Iranian tankers in waters off Malaysia in spite of Washington’s threat to target them.NYT World
BUSINESS6d agoAramco weighs gas monetization options as Jafurah output grows - reportAramco is reportedly evaluating various options for gas monetization as output from its Jafurah field increases. This indicates strategic planning within the company regarding its energy resources.Seeking Alpha Tech
BUSINESS6d agoOil Rises, Stocks Fall As Worries Over Attacks In Strait Of Hormuz FlareUK Maritime Trade Operations said there had been nine attacks so far this month, representing half of the September total in the waterway and the Gulf combined. The post Oil Rises, Stocks Fall As Worries Over Attacks In Strait Of Hormuz Flare appeared first on Channels Television.Channels TV
BUSINESS6d agoIndia hikes interest rates for first time in over three years as Iran war fuels inflationThe Reserve Bank of India raised borrowing costs for the first time in over three years on Wednesday, as the Middle East war pushes up prices in Asia's third-biggest economy and weighs on an already fragile rupee.EuroNews [en]
BUSINESS6d agoHas Russia’s fuel crisis given Iranian oil an opening in Central Asia?Iran's oil exports have struggled amid a US blockade. A Russian energy crisis because of Ukrainian attacks could help.Al Jazeera [en]
BUSINESS6d agoOil climbs as U.S. storm and Houthi attacks raise supply concernsOil prices are increasing due to concerns over supply disruptions stemming from a storm in the U.S. and ongoing Houthi attacks.Seeking Alpha Tech
BUSINESSOct 7Oil rises as concerns over Houthi attacks on Saudi Arabia eclipse supply recoveryIran's move to step up attacks on tankers which are transiting through the Strait of Hormuz has also led to renewed worries over oil supplies among traders.CNBC
BUSINESSOct 7Middle East oil flows reach 80% of pre-war levels, Shell CEO Sawan saysAccording to Shell CEO Sawan, Middle East oil flows have recovered to 80% of their pre-war levels. This signifies a substantial rebound in oil production and supply from the region.Seeking Alpha Tech
BUSINESSOct 6Ships’ captains paid $100,000 a month to transit Strait of HormuzSalaries and bonuses spiral for seafarers willing to risk perilous trip through waterway in face of Iranian attacksFinancial Times
BUSINESSOct 6Beyond tariffs: The US–Turkey trade relationship needs a bigger bargainTo reach their longstanding $100 billion trade ambition, the United States and Turkey should look beyond tariffs toward a broader economic bargain. The post Beyond tariffs: The US–Turkey trade relationship needs a bigger bargain appeared first on Atlantic Council.Atlantic Council
BUSINESSOct 6After crossing the Strait of Hormuz, key supplies for Vaca Muerta oil exports arrived in Río NegroThese are the single buoy moorings that will be installed 7 kilometers off the coast of Punta Colorada. They will allow ships to moor offshore, without the need to build a fixed pier.Clarín
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