The residential capital values in Dubai for June registered a 12% drop compared to the previous year, standing at 69.3 points, dipping 1.9% monthly, continuing the same accelerated rate of decline witnessed during April and May, according to leading UAE-based local consulting firm ValuStrat.
According to a new research by management consulting firm McKinsey & Company, companies with gender diversity and ethnic and cultural diversity in their leadership managed to financially outperform their peers. McKinsey’s researchers delved into the leadership composition of over 1,000 companies in 15 countries and compared the make-up against their financial performance.
Despite enjoying a strong first quarter, the initial public offering (IPO) market in the MENA market is set to face a subdued outlook over the next six months as the effects of Covid-19 take shape, according to experts from professional services firm EY. EY’s stark warning comes on the back of its latest MENA IPO Eye Report, which revealed an uptick in IPO volume and value for the first quarter 2020.
Women in countries across the Middle East are getting wealthier. At the current rate of growth, Boston Consulting Group (BCG) reports that women’s wealth in the region could surpass the $1 trillion mark by 2023. In the Middle East, women manage nearly $800 billion in assets, amounting to 13% of the region’s total wealth of approximately $6 trillion.
Nigeria’s Paystack is the only African startup shortlisted in the 2019 edition of the Fintech100 report compiled by KPMG and H2 Ventures. The report which was unveiled recently represents the sixth annual Fintech100 report by the auditing and business advisory company.
As the impact of the Covid-19-induced economic crisis manifests itself, Matthew Wilde, a Managing Director at AlixPartners in the Middle East, anticipates a sea of firms will be forced to restructure their operations with survival and future-proofing in mind.
All aspects of the travel-intensive consulting industry have been hit hard by the Covid-19 international travel ban, however those specialising in international development have been impacted worse than most. According to a new study by Devex, funds have been redirected to emergency concerns by clients, rendering swathes of development staff around the world jobless, and programmes halted altogether.
The Covid-19 pandemic is having a significant impact on the Middle East’s consumer packaged goods sector, with a dramatic drop in consumer demand and supply chain disruptions. To weather the storm, consumer packaged goods companies have set up crisis teams to manage rapidly changing day-to-day issues and are enacting their business continuity plans. According to experts from Strategy&, three mid-term considerations should be given priority in this changing landscape.
Organisations across the globe are currently trying to grasp how the ‘new normal’ of the post-Covid-19 world will shape the future workplace. According to new research from real estate consultancy CBRE, seven overarching workplace trends will emerge out of the crisis. Experts at the firm’s Middle East office provide a round-up.
The sentiment of Chief Financial Officers (CFOs) in the Middle East continue to slide, according to PwC’s latest CFO Pulse Survey, which sheds light on how financial leaders in the region are absorbing and responding to the Covid-19-induced downturn. Just under half of regional leaders are in the process of changing their financial plans, while 12% are working on revised M&A plans, compared to 17% during the previous survey conducted in May.
The Middle East division of global consulting firm Protiviti recently hosted a virtual session on the role of digital transformation for enterprise resilience during covid-19’. During the event, which was attended by over 350 business leaders from across the Middle East and North Africa (MENA), a poll of the attendees found that technology is reshaping the face of the business scene.
The Global accounting and consulting network has beefed up its presence in the Middle East with the addition of new member firms in Kuwait and the United Arab Emirates. In Dubai, one of the it’s larger professional services firm, James Chartered Accountants has been added to the firm’s ranks. Meanwhile, in Kuwait, Pillars Advisory, a local firm which supports its clients with assurance, accountancy and consultancy services, as well as risk & compliance and training services has joined UHY’s network.
International accounting and consulting network Santa Fe Associates (SFAI) has in the past months expanded its footprint in the Middle East with the addition of members firms in Bahrain, Jordan, Kuwait and Yemen. Headquartered in Malta, SFAI has a global presence, with its members firms active from some 220 locations helping clients with auditing, taxation, financial advisory and consulting services.
Three Dubai based professional services firms – Rising Phoenix Consultancy, Campaign Works and LEA Growing People – have joined forces to launch Insight360, a proposition that aims at helping startups and SMEs tap into unfolding growth opportunities. The new offering provides a 360 degrees panoramic on business growth, brand evolution, market leadership and performance resilience, in an approach designed to identify and unleash growth opportunities emerging out of the ‘new normal’ induced by the Covid-19 pandemic.
Two professional services firms in the Netherlands – Finext and The Resource – have teamed up to launch Taxvibes, a company specialised in the automation of tax processes. According to the founding companies, organisations of all sizes can benefit from the introduction of automation in their tax processes.The firm brings a multifaceted approach to its clients, blending tax, finance and IT capabilities into its proposition.
Since the start of the coronavirus, BearingPoint has supported several governments and dozens of public sector organisations across Europe with the delivery of critical Covid-19-related public services. The crisis has also led to an acceleration of digitalisation initiatives in the public space, and BearingPoint has been (and still is) working with clients across Europe to build and accelerate their transition to digital services in areas such as social services, citizen information, passport and driving license services.
When dealing with the COVID-19 crisis many people struggle to find the best sources of information. As a contribution to the business community, Infomineo has put together a repository of the best sources of information which we will keep updating during the COVID-19 crisis.
SSA countries started easing their lockdown measures, check this Infographic to find out how the pandemic is impacting them and what are the key mitigation measures taken.
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