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Middle East

August 20, 2013

In a rare interview, CampdenFB talks to Mishal Kanoo, deputy chairman of one of the Middle East’s top family businesses, the Kanoo Group.

Family life is extremely private in the Gulf. In a way, it is not surprising that people who dress so conservatively, with women shrouded in black and men cloaked in white, should be so guarded in showing a public face. In the same way, family businesses in the Gulf Cooperation Council, which make up the vast majority of the successful corporations there, are curiously reluctant to share their successes with the press. For this reason, the willingness of Mishal Kanoo, deputy chairman of the GCC-based Kanoo Group, to speak to CampdenFB, is all the more remarkable.

July 18, 2013

Entrepreneur Lara Tarakjian and her brother are definitely smooth operators – they made their fortune with a chain of 20 laser hair-removal clinics in the Middle East.

Entrepreneur Lara Tarakjian and her brother are definitely smooth operators – they made their fortune with a chain of 20 laser hair-removal clinics in the Middle East.

May 31, 2013

Wealthy philanthropists who are discreet about their giving could be undermining their charitable efforts, a new study examining cultural trends in philanthropy reveals.

Wealthy philanthropists who are discreet about their giving could be undermining their charitable efforts, a new study examining cultural trends in philanthropy reveals.

The first Individual Philanthropy Index, conducted by Forbes Insights and French bank BNP Paribas examining philanthropic giving in Asia, Europe and the Middle East, also found that motivating factors for giving varied across the regions studied.

May 24, 2013

Wealthy individuals in the Middle East prefer the privacy and trust of a single family office to the offerings of a multi-family office, new research from investment advisers Invesco has revealed.

Wealthy individuals in the Middle East prefer the privacy and trust of a single family office to the offerings of a multi-family office, new research from investment advisers Invesco has revealed.

As a result, the region’s SFOs dominate MFOs in popularity and the amount of assets under management.

May 17, 2013

The increasing role of women in executive roles is being heralded as one of the contributing factors to family business success in the Middle East.

The increasing role of women in executive roles is being heralded as one of the contributing factors to family business success in the Middle East, with new PwC figures revealing family businesses in the region are outperforming family businesses globally.

The Global and Middle East Family Business Survey 2012 also said Middle Eastern family businesses had been less affected than their international counterparts by the ongoing global economic situation.

April 23, 2013

The GCC might just have the highest concentration of family businesses in the world. 

Business means family business in the Gulf Cooperation Council – comprising the six states bordering the Persian Gulf, namely Bahrain, Kuwait, Oman, Qatar, Saudi Arabia and the United Arab Emirates. Among the best known are such firms as the Kanoo Group in Bahrain and the Al Masaood Group in the UAE. Many, such as Obeikan, the Al Khorayef Group and the Zamil Group, come from Saudi Arabia, which is by far the region’s most populous country.

March 28, 2013

First-generation wealth still dominates fortunes in emerging markets, meaning that companies started by entrepreneurs in these regions haven’t yet established recognisable global brands.

First-generation wealth still dominates fortunes in emerging markets, meaning that companies started by entrepreneurs in these regions haven’t yet established recognisable global brands.

These are among the main findings of a new study by Forbes Insights and Societe Generale Private Banking, which found the majority – 78% – of emerging-market fortunes were first-generation and came from entrepreneurial ventures. Only 20% of those surveyed had inherited their wealth.

March 5, 2013

If they want a piece of the Middle East’s action, businesses have to do a deal with one of the region’s family-owned conglomerates. 

It’s 2010 and the new owners of Harrods have parked their luxury sports cars on a busy street outside the department store in Knightsbridge, rather than avail themselves of the valet service that their latest acquisition could provide. Sporting the renowned baby-blue colour of Qatar’s Al Thani royal family, the Koenigsegg CCXR and Lamborghini Murcielago LP670-4 SuperVeloce, two of the world’s fastest cars, were promptly clamped by parking inspectors.

December 17, 2012

Nearly one-third of family businesses in the Gulf Cooperation Council states have one or more female board members, according to research by the non-profit Pearl Initiative.

Nearly one-third of family businesses in the Gulf Cooperation Council states have one or more female board members, according to research by the non-profit Pearl Initiative. 
 


Imelda Dunlop, executive director of the Pearl Initiative, told CampdenFB: “It illustrates an openness among family firms in the GCC; they don’t regard board seats as being for male family members only.”
 


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