UAE SMEs recognized for growth

The winners of the 8th Gulf Capital SME Awards 2019 were announced at a gala dinner hosted at The Ritz-Carlton, Dubai International Financial Center.
Updated 30 September 2019

UAE SMEs recognized for growth

Gulf Capital has unveiled the winners of the 8th Gulf Capital SME Awards 2019 at a gala dinner hosted at The Ritz-Carlton, Dubai International Financial Center. Seventeen SMEs across the technology, F&B and health care sectors were recognized for implementing innovative techniques and strategies that lead to business growth and rapid expansion. 

This year, the awards, which recognize new and existing SME businesses, received a record number of 300 applications from companies and entrepreneurs across 17 categories. 

Dr. Karim El-Solh, CEO of Gulf Capital, said: “SMEs are the driving force of the UAE’s economy, as they constitute over 90 percent of all the organizations in the country. We are pleased to recognize and celebrate the achievements of the SMEs that continue to fuel the growth of the UAE economy and are displaying world-class capabilities by being champions of growth and innovation.”

“Entrepreneurs and small companies are the drivers of the future success of this region,” said MEED editorial director Richard Thompson. “Through these awards, MEED is supporting SMEs in the UAE by celebrating their finest achievements. And even if they have not won an award on the night, every company participating in the Gulf Capital SME Awards 2019 is a winner and should be applauded for the contribution it is making to the future of this region.”

The UAE continues to be the preferred location for SMEs to flourish as the number of new companies entering the market has increased by 30 percent in the last decade, according to a recent report by Diligencia, Gulf Capital and MEED.


Tire business poised for growth in Saudi Arabia despite COVID-19

Updated 23 September 2020

Tire business poised for growth in Saudi Arabia despite COVID-19

Despite the still raging COVID-19 pandemic, the tire business is poised to come back stronger than before as people become even more reliant on their vehicles to get to their destination while ensuring minimum exposure risk level. This was one of the highlights of the first virtual meetup hosted by Bridgestone Middle East, which expressed optimism about future market prospects in Saudi Arabia post-pandemic with the gradual easing of restrictions and people continuing to observe social distancing as they move around.

During the meeting, Stefano Sanchini, regional managing director for Bridgestone Middle East, and Berna Akinci, head of marketing for Bridgestone Middle East, discussed the economic repercussions of the pandemic on the automotive sector and the tires industry, following the temporary closures of businesses, impacting jobs as well as people staying more at home to avoid getting infected by the virus.

While economic impact has hit the pockets of vehicle owners in the Middle East, Sachini and Akinci emphasized that road safety must not be compromised to save on money when it comes to replacing tires and should be considered as a necessity.

They also took the opportunity to update the participants on the latest trends in the regional market, which has been rapidly catching up with the digitization of almost all sectors, including the emergence of new mobility ecosystems.

During the talk, speakers identified safety as a priority when buying tires. Buyers should consider purchasing only quality tires as it affects the braking distance, the handling, and grip while driving.

The drop in the demand for tires during the height of the lockdown affected sales, however, the trend is moving upwards again as restrictions have eased in some parts of the region. In this regard, Bridgestone has been looking on ways to enrich its brand offerings to add value to customers.

The company further emphasized the importance of going digital for the industry to reach out and meet the needs of its customers, especially in the Middle East, where there is a high rate of usage of digital devices. 

The value of data management as the new fuel for mobility has also been talked about during the meetup.