The Anti-Status Watch: Why Men in Finance Love Cheap, Cheesy Watches
The ultimate trading-floor flex? A Snoopy Swatch. Or a Casio calculator. Why lots of money men (still) favour novelty watches.
3 min
How do you tell the time? Neal W. McDonough, the COO of a finance and policy startup in Ho-Ho-Kus, N.J., looks to Charlie Brown, the loveable, miserable “Peanuts” protagonist. An illustration of the character occupies the exec’s watch dial, Brown’s stout arms acting as the minute and hour hands.
McDonough, 55, bought the kooky Timex for a Valentine’s Day trip about five years ago, along with a matching model depicting Lucy van Pelt (Brown’s frenemy) for his then-girlfriend. To his surprise, he kept wearing the $150-ish ticker after the trip. “It’s now my business watch,” he said, adding that such a non luxury model can telegraph that he’s under no obligation to be flashy. “I have nothing to prove to anyone,” he said. “And the fun thing is, a lot of people notice [my watch].”
Though finance guys famously flaunt Rolexes or Patek Philippes on their wrists, an established subspecies of money men goes the other way entirely. In place of a sleek steel case and elegant ceramic dial? Mickey Mouse. SpongeBob SquarePants. Fanta-orange rubber straps.
Over the years, highfliers have made headlines for sporting Swatches. (See: Blackstone Group CEO Stephen A. Schwarzman or former Goldman Sachs CEO Lloyd Blankfein .) That “wealthy guy, cheap watch” ethos continues to resonate in boardrooms and on trading floors, with men of all seniority levels embracing plasticky, offbeat designs, from superhero models to calculator Casios. Many resemble something you might win in a claw machine. Priced from $30 to a few hundred bucks, they’re a bit of fun and a different sort of flex, conveying an “I don’t need a Rolex” bravado that comes from having made it. Call them anti-status watches.
Patrick Lyons, the managing partner of a family office in New York, rotates two contrasting watches: a 1988 Santos de Cartier and a Nickelodeon “SpongeBob SquarePants” model with a tangerine strap.
The Cartier, a family heirloom, is a slice of French sophistication; the Nickelodeon dial features a giant image of a pink starfish named Patrick Star who lives under a rock. Lyons, 35, likes that the second watch is idiosyncratic—and that its starfish shares his name. “I wear that more often than my Cartier,” he said, adding that he hopes to pass down both models to future offspring.
Leroy Dikito, 42, an executive director at JPMorgan Chase in New York, chose his $450 “Avengers” watch from Citizen because it reminds him of his father, who loved comic books. Though its stainless-steel strap reads urbane enough, its cheerfully garish dial slices together images of the Hulk, Iron Man, Captain America and other superheroes. Working in finance, you need to be “serious all the time,” so a fun watch brings welcome levity, said Dikito. “People need to know there is more than the big job and the title.”
Since a suit can only inject so much color, a watch offers that rare opportunity to “show off your personality,” said Eli Tenenbaum, 36, the director of corporate development for a New York private-equity firm. Plus, he noted, “If you wear a fancy watch, chances are someone else may be wearing the same one.” Tenenbaum runs little risk of twinning with a colleague when he straps on his Mickey Mouse or Snoopy Swatches, worn with premium Brioni or Zegna suits.
Evan Vladem, 37, considers his Casio calculator watch a neat “ice breaker” when schmoozing, a professional obligation for the partner at a financial advisory in Fort Lauderdale, Fla. “It came in handy to break up awkward moments,” he said of the black, $30-ish design, a Casio classic. At a dinner with an insurance partner a few years ago, he recalls, the conversation petered out after an exchange about a client’s situation, which involved some financial arithmetic. “I pulled out my wrist and said, with a smile, ‘Well, I’m happy I have my trusty calculator watch to help me here,’” said Vladem. “We both laughed. [It] kicked off another conversation.”
Even men who have invested heavily in high-end horology seem to be falling for cheap, kitschy designs. Scott Jay Kaplan, 44, a film producer and financier for Brooklyn company CoverStory, owns pricey models from Rolex and Audemars Piguet. But for daily wear he’s currently favouring a super-chunky $25 watch he bought in Argentina this past winter, a model similar to a G-Shock but by an unfamiliar brand. He says he has received a lot of compliments on it, and it has held up surprisingly well. “I bought it because it looked silly,” he said. “Not for clout.”
McDonough, the Charlie Brown fan, urges anyone considering a novelty ticker to follow just one rule: Don’t splurge. “I think the whole idea of luxury watch brands coming out with ‘kitsch’ watches is…a little bit absurd,” he said. “So anything over, say, $500 would be out.”
Prop styling by Marina Bevilacqua
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Chris Dixon, a partner who led the charge, says he has a ‘very long-term horizon’
Americans now think they need at least $1.25 million for retirement, a 20% increase from a year ago, according to a survey by Northwestern Mutual
Advanced Media has partnered with DHL Express UAE to reduce logistics carbon emissions through DHL GoGreen Plus solutions. The initiative, launched in 2022, uses Sustainable Aviation Fuel for shipments, ensuring transparency and accountability. Advanced Media will receive an SGS certificate confirming emissions reductions.
2 min
In a strategic move toward sustainability, Advanced Media, a leading provider of cutting-edge media solutions in the Middle East, has partnered with DHL Express UAE, the global leader in international express logistics, to reduce logistics carbon emission through DHL GoGreen Plus solutions. This initiative aligns with Advanced Media’s commitment to environmental responsibility and sustainable business practices.
The agreement was officially signed at Advanced Media’s Dubai headquarters, with Jawad Ouaziz, VP Commercial of DHL Express UAE, and Alaa Al Rantisi, General Manager of Advanced Media, commemorating the beginning of this impactful collaboration.
As part of this partnership, Advanced Media will leverage DHL’s GoGreen Plus service, which enables businesses to reduce their carbon footprint by using Sustainable Aviation Fuel (SAF) for shipments.
Jawad Ouaziz, VP Commercial of DHL Express UAE, emphasized the significance of the collaboration: “This partnership exemplifies how innovative logistics solutions can contribute to a more sustainable future. With DHL’s GoGreen Plus service, we are empowering Advanced Media to actively reduce its carbon footprint and set a benchmark for sustainability in the media industry.”
Alaa Al Rantisi, General Manager of Advanced Media, added: “Our partnership with DHL’s GoGreen Plus is another important milestone towards Advanced Media’s commitments to carbon reduction and climate action. We hope that this marks the beginning of our sustainable journey together and we serve as an example to other SMEs in the region as well.”
Launched in 2022, DHL’s GoGreen Plus service has become an industry-leading solution that leverages SAF to reduce Scope 3 emissions, the indirect greenhouse gas emissions that occur in the value chain. The program operates on the carbon in setting principle rather than offsetting, with results audited by an independent third-party, ensuring transparency and accountability. As part of this agreement, Advanced Media will receive an SGS certificate confirming the emissions reductions achieved through the initiative.
DHL’s commitment to achieving net-zero greenhouse gas emissions by 2050 is further reinforced by its broader sustainability efforts, which include the electrification of its delivery fleet, the expansion of SAF use across its aviation network, and the operation of carbon-neutral facilities.
The agreement between Advanced Media and DHL Express UAE represents a milestone in sustainable logistics and media, reinforcing the UAE’s vision for a greener, more environmentally responsible future.
Chris Dixon, a partner who led the charge, says he has a ‘very long-term horizon’
Americans now think they need at least $1.25 million for retirement, a 20% increase from a year ago, according to a survey by Northwestern Mutual
Wego, the top travel app in the Middle East and North Africa, has partnered with Waves to offer family-friendly yacht trips across Dubai, Kuwait, Jeddah, and Qatar. The partnership aims to enhance travel convenience and experiential tourism in the region.
2 min
Wego, the number 1 travel app and the largest online travel marketplace in the Middle East and North Africa (MENA), is thrilled to announce its partnership with Waves, the innovative experience app and aggregator that seamlessly connects users with yachts and chalets.
This collaboration brings an unparalleled luxury experience to travelers looking to explore coastlines, indulge in water activities, or celebrate special occasions in style.
With this partnership, Wego customers can now easily book family friendly yacht trips ranging from 2 to 6 hours, accommodating an average of 25 guests for bespoke journeys across Dubai, Kuwait, Jeddah, and Qatar. Whether it’s a tranquil coastal escape, an adventurous boating experience, or an exclusive celebration, Wego and Waves together offer the perfect setting for unforgettable moments at sea.
Mr. AbdulRahman AlSaadoon, CEO of Waves, added: “By integrating Waves with Wego, we are bringing our world class yacht experiences to a broader audience. This partnership is a testament to our commitment to redefining travel by seamlessly connecting land and sea.”
Waves has quickly established itself as a regional leader, beginning its journey in Kuwait before expanding to Qatar during the World Cup and further into Saudi Arabia and Dubai. The platform is known for its hassle-free booking experience, ensuring reliability, convenience, and premium service for all users.
Mamoun Hmidan, Chief Business Officer at Wego, said: “We are excited to partner with Waves to offer our customers exclusive luxury experiences. This partnership enhances our mission of providing travelers with unique, hassle-free travel options that go beyond conventional tourism.”
Through Wego’s extensive reach and seamless technology, travelers now have easier access to Waves’ fleet of luxurious yachts, making premium water experiences more accessible than ever. The collaboration aligns with both companies’ missions to enhance travel convenience and elevate experiential tourism in the region.
Travelers can now access Waves’ premium yacht rental services through Wego’s platform, allowing for smooth and effortless reservations. Whether planning a relaxing family outing, a corporate event, or a luxurious getaway, users can browse and book their dream experience within minutes.
Chris Dixon, a partner who led the charge, says he has a ‘very long-term horizon’
Interior designer Thomas Hamel on where it goes wrong in so many homes.
Dubai Future Foundation (DFF) has launched the fourth edition of its Future Opportunities: The Global 50 report, identifying 200 opportunities and 1,000+ actionable ideas across key sectors. The 2025 edition explores 10 global megatrends, including 6G, AI, energy innovations, and robotics, and outlines 50 key opportunities in five focus areas. Vice Chairman Mohammad Al Gergawi highlighted the report’s role in driving innovation, fostering partnerships, and shaping the future through proactive action.
2 min
Dubai Future Foundation (DFF) has launched the fourth edition of the ‘Future Opportunities: The Global 50’ report, igniting global dialogues to harness promising opportunities and global trends in service of humanity’s future.
The launch of this annual fourth edition brings the total number of future opportunities identified since the report’s inception to 200, capable of generating over 1,000 actionable ideas across economic, societal, technological, and legal domains.
This year’s report also explores the top 10 global megatrends that are set to positively impact the quality of life in communities, drive sectoral and economic development, and enhance governmental performance worldwide in the coming years and decades. These trends are based on key indicators, including the expansion of 6G networks, the rapid evolution of artificial intelligence, advancements in energy technologies, and increased reliance on robotics and unmanned aerial vehicles.
The report outlines 50 key opportunities across five critical areas: Health Reimagined, Nature Restored, Societies Empowered, Systems Optimized, and Transformational. These insights aim to drive growth, address emerging challenges, and prepare industries for a rapidly evolving future.
His Excellency Mohammad Abdullah Al Gergawi, Vice Chairman of the Board of Trustees and Managing Director of DFF, highlighted the report’s role as a call for collective action and the strengthening of effective partnerships to support individuals, institutions, and governments in transforming future opportunities into tangible achievements.
“The report embodies a platform for inspiring new ideas and future opportunities that support the global foresight ecosystem and open new horizons for designing the best possible future,” HE Al Gergawi stated.
HE Al Gergawi also emphasized the need for proactive and strategic responses in a world of accelerating change. “Foresight is not just about exploration or speculation. It is about deliberate action driven by the pursuit of growth, prosperity, and well-being. The future is not a fixed destination; it is an ongoing series of experiences shaped by intent and action. Anticipating change requires more than imagining scenarios; it involves exploring unfamiliar paths and maintaining an open mind. Success will come from reflecting, adapting, and acting decisively. Progress is built on agility, resilience, and the courage to innovate,” Al Gergawi explained.
Chris Dixon, a partner who led the charge, says he has a ‘very long-term horizon’
Following the devastation of recent flooding, experts are urging government intervention to drive the cessation of building in areas at risk.
Emirates Driving Company has approved a cash dividend distribution for the fiscal year ending December 31, 2024, at 34% of the company’s share capital, yielding a 6.25% return. The company is committed to investing in modern technologies, AI, and human capital development.
2 min
Emirates Driving Company, listed on the Abu Dhabi Securities Exchange (ADX) under the symbol “DRIVE,” announced that its General Assembly, convened on March 11, 2025, approved a cash dividend distribution to shareholders for the fiscal year ended December 31, 2024. The approved dividend is set at 34% of the company’s share capital, amounting to a total of AED 183,164,256, equivalent to 17 files per share, yielding a 6.25% return based on the closing price as of March 11, 2025.
This distribution is an extension of the company’s consistent approach to providing rewarding returns to shareholders and distributing cash dividends over the years. The company has maintained a stable policy of regularly and continuously sharing its successes with shareholders. Despite some notable challenges in the current market, Emirates Driving Company has managed to achieve strong economic growth in its operational and net profits, reinforcing its ability to continue implementing its strategy and delivering sustainable value to its shareholders.
The Board of Directors emphasized their commitment to further supporting the company’s strategic direction and strengthening its financial and operational position by focusing on investment in modern technologies, Artificial Intelligence (AI), and human capital development. They stressed the importance of integrating efforts between the executive management and the various business units to ensure the realization of growth objectives and expansion into new and diverse sectors and activities. The Board members also commended the efforts made to solidify the company’s leadership position in the driving education market for 25 years, and to fulfill its vision of creating a safe and responsible driving environment for the community.
They explained that achieving sustainable profits is the cornerstone of the company’s long-term strategies, prompting the Board to make well-considered decisions that contribute to expanding the company’s business base and reinforcing its approach to achieving financial sustainability. The Board reiterated its constant commitment to nurturing a strong relationship with shareholders and maintaining their trust by continuing regular dividend distributions and adhering to transparency and robust governance policies.
Chris Dixon, a partner who led the charge, says he has a ‘very long-term horizon’
Globitel Networks, a new division, will provide innovative solutions to telecom operators and governments in Jordan and KSA, focusing on network security and revenue assurance. Led by Fadi Qutaishat, the division will offer customized solutions, including roaming services, networking tools, and IoT enablement.
2 min
Globitel, a leading provider of cutting-edge Telecom & Customer Experience software solutions with nearly three decades of expertise, proudly announces the establishment of its new division, Globitel Networks, effective March 2025. This strategic expansion underscores Globitel’s unwavering commitment to delivering innovative, state-of-the-art solutions to telecom operators and governments across the region.
This announcement comes in conjunction with Globitel’s prestigious participation at Mobile World Congress 2025 in Barcelona, reinforcing its role as a key player in shaping the future of telecommunications. The global event provides the perfect stage for Globitel to showcase its latest advancements and the launch of Globitel Networks, which will redefine industry standards with its cutting-edge solutions.
Fadi Qutaishat, a seasoned expert in the telecom industry with a proven track record of leadership, has been appointed as President of Globitel Networks. Qutaishat’s visionary approach and dedication to excellence will guide this new division in addressing the dynamic needs of telecom operators and government entities. Supported by a team of experienced professionals, Globitel Networks aims to set new industry benchmarks by prioritizing network security and revenue assurance. The division offers unparalleled flexibility to customize solutions that align with its clients’ unique requirements. Globitel Networks remains fully committed to advancing the telecom industry, fostering innovation, and driving sustainable growth through every initiative.
Since its inception in 1996, Globitel has been at the forefront of telecom innovation, serving over 40 countries across the Middle East, Gulf countries, Africa, Asia Pacific, and Eastern Europe. The company’s robust portfolio includes solutions such as roaming services, value-added offerings, networking tools, location-based services, network optimization tools, advanced analytics platforms, Internet of Things (IoT) enablement, and network protection solutions like Equipment Identity Registers (EIR). These comprehensive offerings have cemented Globitel’s position as a trusted partner for telecom operators worldwide.
The launch of Globitel Networks reflects the company’s vision of becoming the trusted technology partner for telecom operators in the region. With its advanced suite of solutions and steadfast customer support, Globitel Networks is ready to meet the challenges of a rapidly evolving digital landscape. This division is privileged to serve a distinguished customer base, including Zain Group, Ooredoo Group, STC Group, MTN Group, Batelco Group, Orange Group, and Etisalat Group. These enduring partnerships, built on mutual trust and collaboration, drive Globitel Networks’ commitment to delivering exceptional service and innovation.
Globitel operates from strategically located offices in Jordan & KSA, with a sales office in Egypt, ensuring effective service delivery across regional markets.
Chris Dixon, a partner who led the charge, says he has a ‘very long-term horizon’
Porsche AG achieved a strong sales revenue of 40.1 billion euros in 2024, with a 14.1% operating return on sales. The company is expanding its product portfolio, renewing model lines, focusing on drivetrains, and evaluating an independent SUV line.
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Porsche AG ended the 2024 financial year with a robust result in a challenging environment. The sports car manufacturer marked record sales in four out of five regions of the world, as well as strong automotive net cashflow, which almost reached the record levels of 2023. With the Cayenne, Panamera, Taycan, 911 and the electric Macan, Porsche renewed five out of its six model lines and successfully introduced them in the markets. At the same time, the company has resolutely adapted its product and corporate planning to the changed circumstances. The sports car manufacturer continues to rely on a mix of drivetrains. Its customers will still be able to choose between combustion engines, plug-in hybrids and all-electric drivetrains in every vehicle segment well into the 2030s. In view of the significantly longer global transition phase towards electric mobility, Porsche is expanding its product portfolio in the coming years to include additional models with combustion engines and plug-in hybrid powertrains.
“We have renewed five out of six model lines and extensively refreshed our product portfolio. This has laid the foundation for our success in the coming years, with the clear goal of exciting our customers with our iconic sports cars,” says CEO Dr. Oliver Blume. “In view of the changed circumstances, we have adjusted our product strategy in all segments. And we further developed our proven and successful Porsche strategy over the course of last year to make the company even more flexible, robust and high-performing.”
911: a sports car icon with new top derivatives
Porsche will offer further highly emotive derivatives, especially of the 911. These include high-yield and exciting limited-edition models. The sports car icon will revive the style of the 1970s via a heritage limited-edition model from Porsche Exclusive Manufaktur – the third of four collector’s cars from the Heritage Design Strategy. In the medium term, the 911 family will also welcome an additional flagship model, which will raise the bar even further in the sports car segment.
In order to make the Macan better in every way, Porsche decided early on to fully electrify the model line. Porsche stands by this decision. The all-electric Macan sets new standards in terms of performance, driving experience and design and has been very well received by customers. Once the combustion-engine models of the same name have been phased out, the Macan will be sold exclusively as an all-electric model, worldwide. At the same time, Porsche is continuously monitoring market developments and customer demand. If necessary, the company looks ahead and adapts its product strategy. For example, the sports car manufacturer is currently evaluating an independent model line in the SUV segment with combustion and hybrid powertrains. It would have a new design and Porsche’s characteristic profile and would benefit from synergies. The model could be launched towards the end of the decade.
At Porsche, all three drive technologies symbolize emotion, performance and efficiency. An example of this is the Cayenne. In 2023, the current generation (a mix of combustion-engine and plug-in hybrid models) received one of the most extensive product upgrades in Porsche’s history and it will be further developed in the future with considerable engineering effort. The sales of this model line were at an all-time high in 2024. At the same time, the fourth generation of the bestseller – a completely newly developed and designed model – is intended to significantly support the ramp-up of electric mobility at Porsche. The combustion-engine and electric models will be available in parallel well into the 2030s. Following on from the all-electric Cayenne, Porsche will introduce the all-electric sports cars in the 718 segment.
The sports car manufacturer is also further expanding the possibilities for customization. There are already more than 1,000 Porsche Exclusive Manufaktur options available, while the Sonderwunsch program provides the scope for almost anything that a customer could wish for – from exclusive details through to factory one-offs. Over the past five years, the average revenue per vehicle with Exclusive Manufaktur options has doubled. To enable even more individual customer dreams to be fulfilled, Exclusive Manufaktur’s capacity is to be significantly expanded.
Re-organization and comprehensive program for recalibration
At the end of February, Porsche AG initiated a long-term change in its Executive Board. Dr. Jochen Breckner (47) took over responsibility for Finance and IT and Matthias Becker (54) for Sales and Marketing. They succeeded Lutz Meschke (58) and Detlev von Platen (61), who have left the company by mutual agreement. Furthermore, Porsche has launched a comprehensive program to rescale the company. By 2029, the number of jobs is to be reduced by around 1,900 positions. Porsche is leveraging demographic developments, natural turnover and a restrictive hiring policy to achieve this. In addition, socially acceptable measures are being implemented on a voluntary basis, including a special programme for partial retirement and, in individual cases, termination agreements with severance payments. Furthermore, the company is reducing the workforce by another 2,000 jobs through the expiration of fixed-term employment contracts. In addition to these immediate measures, management and the Works Council are negotiating an additional structural package in the second half of the year. This will also make Porsche even more efficient in the medium and long term.
Porsche is also pushing ahead with its Road to 20 performance program. In 2024 this played a major role in partially offsetting the negative effects on results from a challenging environment. In the future, it will be the leading instrument on the way to achieving a fundamental long-term ambition of a Group operating return on sales of more than 20 per cent. “In 2025, we will once again intensify Road to 20 with a focus on the cost structure – with the aim of further increasing our earning power,” says Dr. Breckner, Member of the Executive Board for Finance and IT.
Robust 2024 financial year
Earnings in the 2024 financial year were mainly impacted by the challenging economic environment and the comprehensive renewal of the product portfolio. The tense market situation in China, the delayed global ramp-up of electromobility and disruptions in the supplier network had an impact on earnings and return on sales. Porsche management has partially mitigated the effects of these thanks to a number of countermeasures.
Group sales revenue was 40.1 billion euros, a single percentage point below the previous year’s figure (40.5 billion euros). Porsche thereby almost entirely compensated for the decline in sales figures. This was achieved by a higher proportion of customizations and improved price positioning of the newly launched products. Group operating profit decreased to 5.6 billion euros (previous year: 7.3 billion euros). The group operating return on sales amounted to 14.1 per cent (previous year: 18.0 per cent). “In 2024, Porsche has proven that we are highly profitable even in challenging times and that we are financially robust,” says Dr. Breckner. Automotive net cashflow amounted to 3.7 billion euros, almost on a par with 2023’s record year (4.0 billion euros). This figure includes cash outflows of 250 million euros in connection with pension plans. The automotive net cashflow margin was 10.2 per cent (previous year: 10.6 per cent), which was above the forecasts.
Porsche was also robust in terms of deliveries in the 2024 financial year, with 310,718 cars going out to customers. In a challenging environment, Porsche recorded sales records in four out of five regions of the world – in Europe, Germany, North America and the Overseas and Emerging markets. Nevertheless, the total number decreased slightly compared to the previous year (320,221 vehicles). This was mainly due to the continuing market challenges in China. The bestseller was the Cayenne with 102,889 examples being delivered, ahead of the Macan (82,795) and the 911 (50,941). In the 2024 financial year, 27 per cent of the new vehicles delivered were electrified – i.e. fully electric or plug-in hybrid. About half of them were all-electric sports cars (12.7 per cent). This share is predicted to significantly increase over the next few years as a result of the Porsche product portfolio. The expectation for 2025 is in a range between 33 and 35 per cent electrified vehicles, including 20 to 22 per cent fully electric.
In motorsport, Porsche has seldom seen more success than it did in 2024, when it won the FIA World Endurance Championship (WEC) driver’s title and all classes in the American IMSA racing series. In Formula E, works driver Pascal Wehrlein became the drivers’ world champion.
Dividend remains at previous year’s level
In the 2024 financial year, earnings per ordinary share amounted to 3.94 euros and earnings per preferred share to 3.95 euros. The Executive Board and Supervisory Board will propose to the Annual General Meeting of Porsche AG a dividend payment of 2.1 billion euros. As in the previous year, this corresponds to 2.30 euros per ordinary share and 2.31 euros per preference share.
2025: start of comprehensive recalibration
In 2025, in total, Porsche will invest an additional 800 million euros in rescaling and in its product portfolio and software and battery activities. In doing so, the company intends to increase its profitability and resilience in the short and medium term. “The extensive rescaling of the company as well as the investments we will be making will have a negative impact on the result for the 2025 financial year,” says Dr Breckner. “We are consciously setting out on a comprehensive recalibration and sustainably strengthening Porsche for the future.” In its forecast for 2025, Porsche is expecting market conditions to remain very challenging and for competition in China to intensify. Geopolitical uncertainties are also expected to persist with the new US administration. The current forecast for 2025 takes into account the current framework conditions. Further potential import restrictions and tariffs have not been factored in.
For the 2025 financial year, Porsche AG expects a Group operating return on sales in a range of 10 to 12 per cent based on the aforementioned assumptions. This is below the figure for the 2024 financial year. Besides the additional investments that are planned, the main reasons for this include reduced vehicle sales and an unchanged high cost level in the value chain. In addition, very high depreciation will remain due to the extensive investments of recent years. This forecast includes assumed sales revenues in the region of around 39 to 40 billion euros. Dr Jochen Breckner: “In the long term, we remain committed to our fundamental ambition of a Group operating return on sales of more than 20 per cent. In the medium term, we are aiming for 15 to 17 per cent due to the persistently challenging environment.”
Chris Dixon, a partner who led the charge, says he has a ‘very long-term horizon’
IDEMIA Public Security and Saudi technology company Tahakom have partnered to enhance road safety in Saudi Arabia. The partnership focuses on assembly, AI, R&D, and knowledge transfer, with IDEMIA sourcing components and services, and Tahakom facilitating workshops.
2 min
IDEMIA Public Security, the leading provider of secure and trusted biometric-based solutions, and Tahakom, the Saudi Technology and Security Comprehensive Control Company, are expanding their strategic partnership through the signing of an extensive agreement to develop and implement local sourcing and foster continued innovation to ensure safer roads in the Kingdom.
The new agreement marks a turning point in enhancing road safety in the Kingdom and moving a step closer to Saudi Vision 2030, which includes a significant focus on improving road safety, but also on making the country a global investment powerhouse through the development of local activities.
IDEMIA and Tahakom’s expanded collaboration aims to develop and implement local initiatives focused on sourcing, assembling, and servicing, in addition to leveraging each other’s expertise and capabilities within AI and research and development.
The signed agreement focuses on three core subjects:
- Assembly: With Tahakom’s commitment to local sourcing, IDEMIA will source components and services for their products from Saudi Arabia. In support of this, IDEMIA will establish a new entity, IDEMIA Road Safety Limited – Saudi Arabia, which will be specialized in assembling Road Safety products in Saudi Arabia and reinforce the use of local content by engaging with local suppliers and partners in the Kingdom whenever possible.
- Artificial Intelligence and Research & Development (R&D): IDEMIA’s R&D Team and Tahakom’s AI team will set up multiple workshops throughout the year to collaborate and share ideas surrounding AI and R&D advancements.
- Transfer of Knowledge: IDEMIA and Tahakom will focus on bringing experts around the globe to set up sessions around IDEMIA’s products and technologies and openly conduct and offer these sessions to Saudi Arabian citizens.
“We are thrilled to expand our partnership with Tahakom and support their commitment to local sourcing in Saudi Arabia,” shared Mazen Hamadallah, SVP, Road Safety, IDEMIA Public Security. “Together we continue to develop and implement initiatives that will drive maximum benefit and impact on our communities, while enhancing operational efficiency and sustainability. This agreement is not only a testament to Tahakom and IDEMIA’s dedication to ensure safer roads in the Kingdom, but also to our commitment to leveraging local expertise and resources and aligning to the Saudi Vision 2030 set by the Kingdom.”
As IDEMIA and Tahakom work closely together on this new initiative, they aim to set up a program to improve local content while working on product localization, strengthening the local workforce, and sharing knowledge and research on local content. They will also be exploring other potential areas to expand into in the future.
Chris Dixon, a partner who led the charge, says he has a ‘very long-term horizon’
UAE residents are planning for Eid holidays, with 60% opting for outbound trips and 40-45% booking inbound travel for local celebrations. This has led to a 30% rise in Eid travel packages, with all-inclusive options becoming popular. Popular destinations include CIS countries, Europe, Southeast Asia, and Africa. Budget-friendly destinations and group travel packages are also popular.
2 min
With the Eid holidays just around the corner, UAE residents are eagerly packing their bags and preparing for exciting getaways. According to musafir.com, the country’s leading travel management company, there’s been a noticeable shift towards family-oriented, spontaneous, and experiential travel.
Nearly 60% of travelers are choosing outbound trips, while 40-45% are booking for inbound travel to welcome family and friends for local celebrations largely due to the pleasant weather and the unique offerings of local destinations. Many expatriates are also taking this opportunity to visit their home countries, highlighting the emotional and cultural significance of Eid as a time for reunions and togetherness.
This increase in travel demand has driven a 30% rise in the popularity of Eid travel packages compared to last year, showcasing the growing enthusiasm for holiday escapes. Whether reuniting with loved ones or embarking on a long-awaited adventure, travelers are embracing the spirit of Eid and the joy of exploring new destinations.
However, with the surge in demand, airfares on popular routes have climbed by 15-20%, and hotel rates have risen by 20-30% during peak travel periods. As a result, all-inclusive holiday packages have become an attractive option, offering travelers an affordable and stress-free way to plan their trips.
Popular destinations this year include the CIS countries—Azerbaijan, Georgia, Uzbekistan, Kazakhstan, Kyrgyzstan, and Armenia—thanks to their ease of access with visa-on-arrival or e-visa options. Meanwhile, interest in Europe – Swiss, Italy, Germany, Latvia, France etc., Southeast Asia and African destinations like Vietnam, Singapore, Indonesia, Thailand, South Africa, Kenya, and Zanzibar is on the rise, as UAE residents seek unique cultural experiences, affordable luxury, and unforgettable culinary journeys.
While spontaneous travel remains a trend, many are also planning ahead for visa-dependent destinations, such as Europe and Japan. One particularly affordable European gem that’s catching attention is Latvia. This destination offers a perfect blend of charm, adventure, and affordable luxury, making it an ideal choice for those looking to explore new and unexplored horizons.
Raheesh Babu, COO of musafir.com, speaking about the Eid holidays, said, “Eid-Al-Fitr, Eid-Al-Adha, as well as the summer and winter breaks, are peak travel seasons where we see a huge upsurge in outbound travel. People increasingly use these holidays to explore new destinations, a trend that has been growing year after year. Post-COVID, we have witnessed a steady growth of 20-25% annually in travel demand. Travel has become an essential part of life, as people value experiences and cherish time spent with family and friends, creating lifelong memories.
Even though the need and desire for travel have increased, travelers are now more mindful of staying within budget. As a result, budget-friendly destinations and group travel packages have gained significant popularity. These options offer comfort, convenience, and affordability, allowing families to enjoy a well-planned vacation without financial strain.
At musafir.com, we curate exclusive packages tailored to the preferences of UAE travelers. Our meticulously crafted all-inclusive holiday packages start at AED 3,199 per person covering flights, 4- or 5-star accommodations, city tours, and visa assistance. Every detail is designed to prioritize comfort, safety, and happiness, ensuring a seamless and unforgettable travel experience.”
With visa-free, visa-on-arrival, and e-visa options available for destinations like Turkey, Georgia, CIS countries, and Gulf states such as Saudi Arabia, Qatar, and Morocco, last-minute travel remains a strong trend. This accessibility allows UAE residents to plan spontaneous getaways without the usual logistical challenges.
Chris Dixon, a partner who led the charge, says he has a ‘very long-term horizon’
The UAE is leading in autonomous mobility, transforming its cities into centers of excellence. The country is balancing operational efficiency with sustainability goals through successful pilot programs and innovation. WeRide, a leading autonomous technology company, has contributed to the region’s advancements. Research shows autonomous mobility can reduce congestion-related delays by 60%. The UAE’s regulatory sandboxes foster collaboration between private and government sectors.
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Over the past decade, autonomous mobility has been at the forefront of global transport innovation, but scaling these technologies to meet real-world demands has proven challenging. Complex infrastructure needs, regulatory hurdles, and integration costs have slowed progress globally. In contrast, the UAE has positioned itself as a leader, transforming its cities into centers of excellence for the future of transportation. By merging advanced infrastructure with strategic partnerships, the UAE is setting a benchmark for the adoption of autonomous systems.
Arthur D. Little’s latest edition of the Autonomous Mobility Journal highlights the UAE’s advancements in autonomous transport. With successful pilot programs and a firm commitment to innovation, the nation is building a mobility ecosystem that balances operational efficiency with sustainability goals. Globally, the report highlights advancements like Baidu’s extensive robo-taxi operations in China, which conducted over 800,000 rides in Q4 2023 with 45% being fully driverless (p.8), and Waymo’s driverless rides in the US (p. 9), illustrating how nations are pushing the boundaries of autonomous mobility.
“The UAE’s achievements in autonomous mobility reflect its vision of blending innovation with implementation success,” said Samir Imran, Partner, Travel, Transportation, and Hospitality for Arthur D. Little Middle East. “It highlights how forward-thinking regulations and investments in infrastructure are critical to creating a future-ready mobility ecosystem. Whether through its regulatory frameworks or its readiness to embrace new technologies, the UAE is setting a benchmark for how nations can turn autonomous mobility into reality.”
WeRide, a leading autonomous technology company, has also contributed to the region’s advancements. In his interview with the Autonomous Mobility Journal about the region, Tony Han, CEO of WeRide, said “The key enablers of autonomous vehicle implementation are connectivity, technology, funding, commercialization, and regulation,” he explained. “The stability and reliability of the autonomous driving system and integrating software and hardware require the joint efforts of participants with different roles in the industry chain. In particular, multi-party collaboration is required in the early stage of vehicle design.”
Dubai and Abu Dhabi have positioned themselves as pivotal testing grounds for autonomous vehicle technology. In Dubai, the Roads and Transport Authority (RTA), in collaboration with Cruise, has led a series of successful robo-taxi pilots, demonstrating the viability of integrating autonomous technologies into complex urban environments. Meanwhile, Abu Dhabi has emphasized innovation in public transportation with WeRide’s robo-buses, which have been instrumental in addressing last-mile connectivity challenges and alleviating urban congestion.
During his interview, WeRide CEO Tony Han also highlighted the partnership with Bayanat in Abu Dhabi for Robo Taxi services and how regulatory advancements in the region. UAE supports the progressive implementation of autonomous mobility solutions.
Autonomous mobility in the UAE is poised to deliver substantial economic and environmental benefits. Research reveals that solutions are expected to ultimately reduce congestion-related delays by 60%. These gains align perfectly with the UAE’s broader objectives of increasing urban efficiency and reducing carbon footprints. Central to these advancements is the UAE’s regulatory sandboxes. This approach fosters a collaborative environment for private-sector innovators and government bodies to pilot new technologies.
Autonomous buses and trucks are increasingly adopted worldwide to tackle labor shortages and enhance efficiency. For example, trials in Norway and Singapore demonstrate scalable solutions, with studies showing autonomous buses can reduce operational costs by 45% and congestion delays by 60%.
“Dubai and Abu Dhabi have established themselves as living laboratories for autonomous mobility,” said Hassan Khairat, Principal, Arthur D. Little Middle East, Travel, Transportation, and Hospitality practice. “This journal underscores how the UAE’s initiatives are not just local milestones but contributions to the global advancement of smart mobility solutions. The UAE’s focus on piloting new technologies and building partnerships with global innovators ensures its leadership in shaping the future of transport.”
As the UAE continues to pioneer smart mobility, its efforts serve as a blueprint for other regions. The nation’s ability to combine cutting-edge infrastructure with bold vision and collaboration is setting the stage for a new era of transport. This aligns with global shifts in funding toward targeted autonomous vehicle applications like last-mile delivery and middle-mile logistics, which are gaining traction in North America and Asia.
Chris Dixon, a partner who led the charge, says he has a ‘very long-term horizon’
Saudi Arabia’s finance leaders have called for reforms in the accounting profession to enhance audit oversight, ethical leadership, and workforce development. The panel discussed the evolving role of the profession in maintaining investor trust and financial transparency, as well as the need for stronger standards, ethical frameworks, and technological adaptation. The panel also emphasized the importance of modernizing accounting education and integrating ethical governance into business strategy.
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Strengthening Oversight and Auditor-Investor Trust
AlShorafa pointed to the CMA‘s oversight reforms, launched in 2016, which have driven notable Raising Ethical Standards Beyond Compliance
Preparing the Workforce for Technological Transformation
Chris Dixon, a partner who led the charge, says he has a ‘very long-term horizon’
Watches and Wonders Geneva 2025 is a one-week event in Geneva, Switzerland, featuring prestigious watchmakers alongside six independent brands. It includes product presentations, guided tours, and an exhibition. The event also features “In the City” initiatives, free public events, and an exclusive concert to highlight Geneva’s watchmaking legacy.
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For one week, Watches and Wonders Geneva 2025 will bring together the watchmaking industry’s most esteemed names, reinforcing Geneva’s status as the world’s watchmaking capital. BVLGARI joins an already illustrious roster, alongside six independent brands making their debut: Christiaan van der Klaauw, Genus, Kross Studio, MeisterSinger, Armin Strom, and HYT. This expanded lineup, housed within a specially reconfigured setting, promises an immersive and enriched experience for visitors.
The event will unfold in two phases: an exclusive trade gathering followed by a grand public opening. From April 1 to 4, the Salon will welcome retailers, journalists, and industry professionals from across the globe. Then, from April 5 to 7, the general public will have the opportunity to experience the world of fine watchmaking firsthand. Tickets will be available from Tuesday, 11 February at noon.
Attendees can tailor their visit with a diverse range of activities, including product presentations showcasing the latest releases and flagship timepieces from leading brands, guided tours offering insights into the heritage and craftsmanship behind each brand, brand booth animations engaging visitors with interactive and immersive experiences, conferences providing expert discussions on watchmaking trends, innovations, and challenges, LAB exploring the cutting-edge technologies shaping the future of horology, and an exhibition titled “Travel along the Greenwich Meridian,” offering a unique journey through time measurement and its significance.
Watches and Wonders Geneva is not only a showcase of heritage and innovation but also a platform for the future. This year, the event will shine a spotlight on young talent, from skilled apprentices to recent graduates and master craftsmen. Inside the Salon, emerging talents will present their work, highlighting the craftsmanship and expertise shaping the next era of watchmaking. Meanwhile, in the city, young professionals and trainees will exhibit their projects in partner boutiques and at the dedicated Watchmaking Village.
Extending beyond Palexpo, Watches & Wonders will bring the magic of watchmaking to Geneva’s vibrant center through the “In the City” initiative, offering free public events, guided tours, hands-on workshops, and engaging experiences in collaboration with renowned boutiques. A highlight of the citywide celebrations will be an exclusive concert on Thursday evening, adding a cultural dimension to the event. This year, special attention will be given to youth and emerging talent, with young apprentices, graduates, and craftsmen being recognized both within the Salon and in the city. The Watchmaking Village on the Pont de la Machine will showcase the skills and projects of the next generation of watchmakers, while the SwissSkills 2025 qualifications for microtechnology professions will take place in conjunction with the Salon, offering live coverage of the competition at the Watchmaking Village.
Renowned for its picturesque landscapes and role in international diplomacy, Geneva has long been synonymous with watchmaking excellence. This legacy was cemented in 1886 with the introduction of the Poinçon de Genève, a hallmark of superior precision and quality. Throughout the 20th century, the city became home to some of the world’s most prestigious watch brands, and today, it remains a global benchmark for luxury timepieces.
Watches and Wonders Geneva 2025 promises to be a defining moment in the horological calendar, setting the tone for the year ahead with groundbreaking innovations, exclusive unveilings, and an unmatched celebration of craftsmanship. Whether an industry insider or an enthusiast, this edition is not to be missed.
Chris Dixon, a partner who led the charge, says he has a ‘very long-term horizon’
After setting records on the Nürburgring Nordschleife and at Shanghai International Circuit and the WeatherTech Raceway Laguna Seca in California, the Taycan Turbo GT with Weissach package has now also set a lap record for electric cars at Interlagos, São Paulo. This is the fourth time, and on the fourth continent, that Porsche has secured a lap record with the electric sports car specially designed for the racetrack.
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Felipe Nasr, three-time IMSA champion and three-time winner of the 24 Hours of Daytona, set a time of 1:42.1 minutes on the 4.3-kilometre Interlagos circuit on 5 February 2025. The new lap time not only shaved almost eight seconds off the record set by the Taycan Turbo S in 2022 (1:49.8 minutes) but was also just under a second inside an earlier outright production-car lap record set by the 911 Turbo S (1:43.087 minutes). With both high-speed and technical sections, as well as plenty of elevation change, the circuit in the Interlagos district of the Brazilian metropolis offers a number of challenges.
“Coming to Interlagos and getting behind the wheel of the Taycan Turbo GT right after winning the 24 Hours of Daytona was an incredible experience. I expected the strong acceleration and brutal torque but, ultimately, it was the overall performance that really impressed me,” says Porsche works driver Nasr. “On the uphill climb before ‘Curva do Café’, just before the main straight, I used Attack Mode and the car reached 272 km/h by the end of the corner. On the exit of ‘Curva do Sol’, I was already reaching more than 200 km/h coming onto the back straight. It’s amazing how brutally the car accelerates and delivers its power,” continues the Porsche Penske Motorsport team driver. “The steering of the Taycan Turbo GT was very precise in the slow corners and remained stable even under heavy braking. The balance, the grip – a real performance machine.”
“Our goal was to set a new record to show the strengths of the new Taycan model series – just in time for its debut on the Brazilian market,” says Peter Vogel, CEO of Porsche Brazil. “The outstanding performance of the Taycan Turbo GT is truly impressive.”
Officially known as the Autodrome José Carlos Pace, Brazil’s home of Formula 1 and the FIA Endurance Championship (WEC), the circuit is known globally for the successes of national hero Ayrton Senna in the races of the early 1990s.
The Taycan Turbo GT has also proven its motorsport credentials as a Formula E safety car since May 2024, when it took over the role from the Taycan Turbo S. Driven by Bruno Correia (Portugal), it is the most powerful safety car in an FIA World Championship. There are always two Taycan Turbo GT safety cars at each Formula E race. One is equipped with the Weissach Package and the other one is without. Fitted with safety equipment and a high-tech communication system, they alternate between duties as the main car and as the backup vehicle.
Further Taycan records on other continents
The lap record in São Paulo follows on from three other records for the Taycan Turbo GT, set by Porsche development driver Lars Kern on very different circuits around the globe. Most recently, in October 2024, he set the then fastest time of 2:11.28 minutes round the Shanghai International Circuit, the first lap record officially recognised by the circuit.
In spring 2024, Kern made a successful visit to WeatherTech Raceway Laguna Seca in California. With a time of 1:27.87 minutes, he set a lap faster than any other achieved by a driver in a road-legal electric car. Shortly before that, a pre-production version of this model had achieved a new fastest time in class at the Nürburgring. Kern was also at the wheel on this occasion, lapping the Nordschleife in just 7:07.55 minutes. With this official lap time, he was a full 26 seconds faster than his previous record drive in August 2022 in a Taycan Turbo S Sport Sedan with Performance Package.
Chris Dixon, a partner who led the charge, says he has a ‘very long-term horizon’
Alexandre de Betak and his wife are focusing on their most personal project yet.
With its power and visual appeal, the Bentayga S Black Edition elevates the Bentayga range to new heights of luxury and innovation.
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Bentley Emirates, exclusively represented by Al Habtoor Motors in the UAE, unveiled today the Bentayga S Black Edition in the UAE. This exceptional model sets a new benchmark in the brand’s design and performance legacy, featuring the groundbreaking, black-tinted Bentley wings for the first time in 105 years. With its power and visual appeal, the Bentayga S Black Edition elevates the Bentayga range to new heights of luxury and innovation.
The S Black Edition stands out with its striking black detailing, contrasted by vivid accent colors that can be chosen from a selection of seven: Mandarin, Signal Yellow, Klein Blue, Pillar Box Red, Ice, Hyper Green, and Beluga. These bold accents are seamlessly integrated into both the exterior and interior, creating a cohesive and impactful design language.
This exquisite model was on display at the Dubai Polo Gold Cup hosted at the prestigious Al Habtoor Polo Resort & Club, providing an exclusive opportunity for guests to experience the Bentley legacy in person while enjoying the excitement of one of the UAE’s most prestigious events.
Unparalleled Design & Personalization
On the exterior, the accent colors are showcased through a laser-like stripe running across the Styling Specification body kit, which includes the front bumper, side sills, and rear spoiler. Matching brake calipers further enhance the eye-catching contrast, complementing the 22-inch black-painted wheels. All traditional Brightware is finished in gloss black, including the Bentley wings and lettering—a first in Bentley’s history. A Black Edition badge is positioned on the rear D pillar as the final signature touch.
Inside, the handcrafted cabin maintains Bentley’s signature luxury while integrating bold accent colors through contrast stitching, piping, and leather sections. The new carbon fiber weave on the fascia, center console, and waist rails adds a dynamic depth to the interior, with the Black Edition badge seamlessly inlaid beneath the lacquered surface. A Dark Chrome pack comes as standard, replacing the traditional bright chrome elements with gloss black finishes on the air vents, organ stop controls, and center vents.
Dynamic Performance & Driving Innovation
The Bentayga S Black Edition delivers class-leading performance with its 4.0-litre twin-turbo V8 engine, producing 542 bhp (550 PS) and 770 Nm of torque. The SUV accelerates from 0-100 km/h in 4.5 seconds and reaches a top speed of 290 km/h, while maintaining a range of 654 km.
For enhanced handling and agility, the Electronic All-Wheel Steering and Bentley Dynamic Ride come as standard. At low speeds, the rear wheels turn opposite to the front, improving maneuverability, while at high speeds, they turn in the same direction for improved stability. The Bentayga S Black Edition also benefits from a sports suspension calibration, offering an additional 15% increase in air suspension damping, reducing body roll and enhancing cornering precision.
A sports exhaust system is included as standard, delivering a deeper, more performance-oriented exhaust note. Bentley’s Torque Vectoring by Brake system sharpens turn-in response, ensuring an engaging and dynamic drive.
Luxury & Technology
The Bentayga S Black Edition offers three premium audio options, including the Bentley Signature Audio system, Bang & Olufsen for Bentley with illuminated speaker grilles, and the Naim for Bentley system, delivering the ultimate in automotive sound quality.
Chris Dixon, a partner who led the charge, says he has a ‘very long-term horizon’
Sydney’s prestige market is looking up, here’s three of the best on the market right now.
This partnership addresses a critical barrier to digital inclusion by enabling growing customer demand for integrated entertainment options by enabling 3.5 million subscribers to access and pay for digital content directly through their mobile accounts.
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Beyond ONE, the global digital services provider and owner of Virgin Mobile and FRiENDi Mobile operations across the Middle East, has partnered with global technology provider TIMWETECH to deliver premium digital content to mobile users across Saudi Arabia and Oman. The agreement, signed at Mobile World Congress in Barcelona, will see TIMWETECH’s Digital Service Delivery platform deployed across Beyond ONE’s affiliate networks – Virgin Mobile Saudi Arabia and FRiENDi Oman.
In markets where credit card penetration remains below 30%*, this partnership addresses a critical barrier to digital inclusion by enabling growing customer demand for integrated entertainment options by enabling 3.5 million subscribers to access and pay for digital content directly through their mobile accounts. Customers will be able to subscribe to premium streaming, gaming, and infotainment services – including on-demand video, live sports updates, interactive quizzes, and AI-powered productivity tools – without needing traditional banking relationships, a significant advantage for Beyond ONE’s largely prepaid customer base.
“This partnership fundamentally transforms how our customers access digital experiences,” said Hani ELKukhun, Beyond ONE CEO of MEA. “In fast growing economies, mobile accounts often serve as people’s primary financial tool. By connecting these accounts directly to digital content, we’re removing long-standing barriers and democratizing access to services that can educate, entertain, and improve quality of life. This aligns perfectly with our mission to create a more inclusive digital ecosystem in high-growth markets.”
Under the agreement, Virgin Mobile and FRiENDi customers will benefit from Direct Carrier Billing (DCB), allowing them to subscribe and pay for services using their existing mobile balance with just two clicks. For the significant segment of Beyond ONE customers who use prepaid services, this eliminates the complexity of separate payment systems while maintaining complete transparency and control.
The implementation includes robust consumer protections, with mandatory double opt-in confirmations, clear subscription terms, and AI-powered real-time fraud detection. These enhanced security measures are expected to reduce unauthorized charges drastically compared to traditional third-party billing systems.
“We’re bringing our carrier-grade VAS aggregation technology to Beyond ONE to create both a seamless and secure experience for millions of mobile users,” said Diogo Salvi, CEO at TIMEWWTECH. “Our platform will operate invisibly beyond Virgin Mobile and FRiENDi’s trusted brands, ensuring a consistent customer experience while dramatically expanding content options.”
The partnership delivers four key benefits:
- Expanded Content Ecosystem: Starting Q3 2025, customers will gain access to premium entertainment, including regional/global streaming services, educational platforms, and gaming subscriptions directly through their trusted mobile provider
- Financial Inclusion: Prepaid users can instantly subscribe to premium digital services without needing credit cards or band accounts, making advanced digital experiences accessible to underserved populations.
- Enhanced Consumer Protection: Clear subscription terms, automatic spending alerts, and simplified management tools give customers complete control over their digital spending
- Faster Service Deployment: New digital services will be rolled out up to 50% faster, with automated onboarding for new entertainment providers ensuring customers always have access to the latest content options
Implementation will begin immediately, with a phased rollout starting Q3 2025. This strategic integration not only enhances Beyond ONE’s value proposition by connecting telecommunications directly with premium content delivery, but also establishes new revenue opportunities in the Middle East’s rapidly evolving digital economy – all while maintaining the seamless experience customers expect from Virgin Mobile and Friendi brands.
Chris Dixon, a partner who led the charge, says he has a ‘very long-term horizon’
The survey notes that women business owners in Egypt have a stronger appetite for digital disruption than their male counterparts
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Entrepreneurial spirit is high among women in Egypt, who aspire to pursue their dreams, gain financial independence and make a difference in the world, according to Mastercard’s latest research, released ahead of International Women’s Day 2025.
As part of its commitment to advancing financial inclusion, Mastercard has launched this report across its Eastern Europe, Middle East and Africa (EEMEA) region, including Egypt. The initiative is designed to champion women entrepreneurs, provide key business insights and drive tangible solutions to break down systemic barriers.
“Our research highlights the remarkable entrepreneurial spirit among women across the EEMEA region. While progress has been made, challenges remain, reinforcing the need for stronger support. At Mastercard, we are dedicated to nurturing the next generation of small business leaders and equipping them with the tools they need to grow and thrive,” said Selin Bahadirli, executive vice president, Services, Eastern Europe, Middle East and Africa, Mastercard.
Egypt’s entrepreneurial landscape
In Egypt, a significant proportion of men (41%) and women (38%) identify as entrepreneurs, reflecting the country’s evolving business landscape. In contrast to the rest of EEMEA, older generations, especially Gen X (54% of men and 51% of women) are more likely to consider themselves entrepreneurs than millennials and Gen Z.
77% of women in Egypt have considered starting or running their own business. This increases to 83% among Gen Z women. However, more than half (56%) of Egyptian women are yet to do so.
As well as formal business ventures, half of Egyptian women have a side hustle to make money outside of their main job, rising to 59% among Gen X women. For many women, the entrepreneurial spirit is inspired by an appetite to earn more money (60%), save for a specific goal (52%) and gain financial independence (45%).
The most commonly cited reasons for starting their business among women founders in Egypt are that they wanted to pursue their dream (48%) or had a brilliant idea that they needed to see through (39%). 37% of women said they desired freedom from traditional working structures, the same number wanted a better work-life balance, an equal number felt the time was right in their life, and the same percentage believed their idea could improve people’s lives. The last number is far higher than the global average, where 20% of women cited this as a motivation for starting their business.
Top sectors in which Egyptian women would like to start a business include education (24%), cosmetics (20%) and marketing/advertising/PR/market research (17%).
In an encouraging finding, 98% of women business owners in Egypt are optimistic about revenue growth over the next five years. This number is higher than in the rest of EEMEA (89%).
Unlocking new opportunities
Despite the evident appetite for entrepreneurship, the research shows that for many women, including current business owners, there are challenges. The risk of failure (30%) and getting the capital to launch (25%) are reported as the biggest challenges preventing women from starting a business. Meanwhile, women are more likely than men to view lack of confidence as a hurdle (8% vs. 6%).
Among women who have already founded a business, 37% say the biggest challenge when starting out was assessing critical digital infrastructure, such as payment systems, and 35% were struggling to find funding. A third say the biggest challenge was knowing which technology was right for their business. More than a quarter (26%) of women want to build a sustainable business but do not know how – this is similar to all women across EEMEA (31%).
Training on how to develop a business plan (38%), access to AI tools to solve business challenges (34%) and having a business partner (33%) would make Egyptian women feel more confident in starting their own business. The research notes that women in the country are more open to embracing advanced technologies to help them do business than their male counterparts. 73% of Egyptian founders (men and women) regularly use AI in their business, and 87% say it has delivered significant cost and/or time savings for their business.
In terms of cybersecurity, 81% of men and 80% for women feel the need to better educate themselves about how to protect their business from a potential cyberattack. However, men (41%) are more likely than women (24%) to admit they are unsure how to protect their business from a cyberattack. These findings highlight the key role of secure digital transactions in business success.
Mastercard’s survey sends a clear message that Egyptian women have the ambition to shape the future of business yet are facing significant challenges. As International Women’s Day 2025 approaches, the company remains committed to fostering an inclusive digital economy where women entrepreneurs are not just supported but celebrated as key drivers of economic progress.
Chris Dixon, a partner who led the charge, says he has a ‘very long-term horizon’
Self-tracking has moved beyond professional athletes and data geeks.
