24/10 • September 2023 DISRUPTING A GIANT Yasser Abdul Malak, Chairman and CEO of Nestlé MENA maps out his plan for shaking up an F&B behemoth UAE: AED 15 KSA: SAR 15 BAHRAIN: BHD 1.500 OMAN: OMR 1.500 KUWAIT: KWD 1.200 QATAR: QAR 15 Inclusive of VATarabianbusiness.com 3 Contents September 2023 www.arabianbusiness.com SUBSCRIBE NOW +971 4444 3000 www.itp.com/subscription arabianbusiness#arabianbusinessarabianbusiness CO VER ST ORY Yasser Abdul Malak, the Chairman and CEO of Nestlé MENA sits down for his rst public interview since assuming the top job at the food giant ECONOMY Solving the global tech talent shortage As technology accelerates, we need to develop new models to maximise the potential of our human capital, says Abdulla Abdul Aziz Al Shamsi EMY How AI is altering our palate With the explosion of AI and tech-driven capabilities, food has morphed into more of an experience than a meal, believes Mohamed Al Fayed 20 FIRST WORD AI is not only altering the way we perceive food but also rede ning the boundaries of culinary creativity 10 Matthew Amlot Editor-in-Chief matthew.amlot@itp.com ng ood e y 304 Vol. 24/10, September 2023 SUBSCRIBE NOW www.itp.com/subscriptions +971 4 4443000 XPT VIEWS THE MAVERICK Ghassan Aboud, founder of the Ghassan Aboud Group, breaks down his journey from reporter to business titan, while showcasing the power of vision and disruptive entrepreneurship 24/08 • July 2023 UAE: AED 15 KSA: SAR 15 BAHRAIN: BHD 1.500 OMAN: OMR 1.500 KUWAIT: KWD 1.200 QATAR: QAR 15 Inclusive of VAT X LV interviews 24/07 • 1 June – 14 June 2023 UAE: AED 15 KSA: SAR 15 BAHRAIN: BHD 1.500 OMAN: OMR 1.500 KUWAIT: KWD 1.200 Inclusive of VAT Joseph Bradley on the democratisation of innovation INDEH NEWS 24/09 • August 2023 LEADERSHIP Former UK Prime Minister David Cameron breaks down why it’s the team behind a leader that leads to success UK: £ 4.95 UAE: AED 15 KSA: SAR 15 BAHRAIN: BHD 1.500 OMAN: OMR 1.500 KUWAIT: KWD 1.200 QATAR: QAR 15 Inclusive of VAT PUBLISHED BY AND © 2023 ITP MEDIA GROUP FZ-LLC. 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PO Box 500024, Dubai, UAE Tel: +971 4 444 3000 Offices in KSA, UAE, UK, US, and INDIA I MEDIA GROU CEO Ali Akawi MANAGING DIRECTOR Alex Reeve DEPUTY MANAGING DIRECTOR Anil Bhoyrul EDI ORIA EDITOR-IN-CHIEF Rob Corder, rob.corder@itp.com MANAGING EDITOR Matthew Amlot, + 971 4 444 3264, matthew.amlot@itp.com SUB EDITOR Edward Liamzon, +971 4 444 3474, edward.liamzon@itp.com ARABIANBUSINESS.COM EDITOR AT LARGE Will Milner DESIGN SENIOR DESIGN MANAGER Geri Batara Sonny DESIGNER Mohammed Irqsosy S UDIO PHOTOGRAPHER Rajesh Raghav VIDEOGRAPHER Muhammad Kaleem VIDEO EDITOR Liju Cheruvathur RODUC ION PRODUCTION MANAGER Denny Kollannoor PRODUCTION COORDINATOR Mahendra Pawar SENIOR IMAGE EDITOR Emmalyn Robles E EN S & MARKE ING DIRECTOR OF AWARDS & MARKETING Daniel Fewtrell, +971 4 444 3684, daniel fewtrell@itp.com SENIOR MARKETING AND EVENTS MANAGER Anthony Chandran, +971 4 444 3685, anthony.chandran@itp.com DIS RIBU ION HEAD OF DISTRIBUTION AND NEWSTRADE Abdulrahim Alparambil DISTRIBUTION COORDINATOR Avinash Pereira CIRCULATION EXECUTIVE Rajesh Pillai AD ER ISING GROUP COMMERCIAL DIRECTOR Saraswati Agarwal, +971 4 444 3352, saraswati.agarwal@itp.com SENIOR COMMERCIAL MANAGER Neha Sikri, +971 4 444 3353, neha.sikri@itp.com SENIOR COMMERCIAL MANAGER Samir Glor, +971 4 444 3320, Samir.Glor@itp.com I GROU CEO Ali Akawi CFO Toby Jay Spencer-Davies CORPORATE WEBSITE itp.com CIRCULATION CUSTOMER SERVICE +971 4 444 3000 WEB arabianbusiness.comHONOURING GREATNESS Thursday 25th January 2024 Dubai, United Arab Emirates Nominations are now open SALES ENQUIRIES Saraswati Agarwal Group Commercial Director Tel: +971 4 444 3352 GSM: +971 52 895 2214 E-mail: saraswati.agarwal@itp.com EVENT ENQUIRIES Daniel Fewtrell Director of Awards & Marketing Tel: +971 4 444 3684 GSM: +971 50 276 5706 E-mail: daniel.fewtrell@itp.com Scan to Nominate ACHIEVEMENT AWARDS 20246 Vol. 24/10, September 2023 FIRST WORD | Matthew Amlot, Editor-in-Chief Witness to inspiration MATTHEW AMLÔT @MatthewAmlot Welcome to the September issue of Arabian Busi- ness, where we bring you insightful perspec- tives, cutting-edge analyses, and inspiring stories from the heart of the Middle East’s business land- scape. As we navigate the ever-evolving world of commerce and innovation, this issue is packed with thought-provok- ing content that re ects the dynamic nature of our region. On our cover, we proudly feature Yasser Abdul Malak, the Chairman and CEO of Nestlé MENA, in his rst public interview since assuming the helm of this culinary giant. In a world where disruption is the new norm, we delve into what it takes to not only withstand disruption but to embrace it as a force for transformation. Nestlé’s journey under Yasser Abdul Malak’s leadership has been nothing short of revolutionary. As we explore his insights, we uncover how he has cultivated a culture of innovation within the realm of culinary arts, where tradition meets cutting-edge technology. Our exclusive interview sheds light on the future of food – an exciting narrative that hints at liquid sustenance as the next frontier. Moreover, Nestlé’s innovative approach extends beyond the culinary arts; we delve into how the conglomerate has cracked the code of winning the war on talent. As businesses across industries grapple with the challenge of attracting and retaining the best and brightest, Nestlé’s strategies provide invaluable insights for creating workplaces that nurture talent and drive success. Speaking of talent, the technology sector’s burgeoning talent shortage takes centre stage in this issue. Page 10 is dedicated to an in-depth exploration of this pressing issue, shedding light on its implications for businesses, innova- tion, and the broader economy. Technology’s impact transcends sectors, and on page 30, we delve into the captivating role of Arti cial Intelli- gence (AI) in reshaping our palates. Discover how AI is not only altering the way we perceive food but also rede ning the boundaries of culinary creativity. Diving deeper into the realm of excellence, we proudly present our inaugural hotel list – a compilation of the top 20 hotels that rede ne luxury and hospitality. Congratu- lations to these exceptional establishments for setting new standards and o ering unforgettable experiences to trav- ellers from around the world. Last but certainly not least, we present our annual feature, the 100 Most In uential People in the Middle East. While no means an exhaustive selection of every in uen- tial person in the region – no single publication could contain that all – this year’s selection process was undoubt- edly a challenge, a testament to the extraordinary accom- plishments of the individuals who shape our region. The diversity and impact of these in uencers underscore the ongoing success of our region and its global signi cance. Congratulations those featured in the list. With that I’ll let you get to reading. Until next time. This month we celebrate those names who continue to inspire this region to greater heightsThursday 21st September 2023 Jumeirah Mina A’Salam, Dubai, UAE www.arabwomanawards.com Commercial enquiries: Saraswati Agarwal, Group Commercial Director T: +971 4 444 3352, M: +971 52 895 2214, E: saraswati.agarwal@itp.com Event enquiries: Anthony Chandran, Senior Marketing & Events Manager T: +971 444 3689, E: anthony.chandran@itp.com Celebrating the outstanding achievements and contributions of women across the Arab world AN ITP MEDIA GROUP EVENT Scan to visit websiteNEWS IN NUMBERS Emiratis 11.48% Indians 27.49% Filipinos 5.56% Pakistanis 12.69% Egyptians 4.23% The Dubai developer is celebrating a solid performance, with sales reaching $2bn in the rst six months of the year Every expat departing the country will now be required to settle all traf c nes and violations registered against them before they can leave Expanding membership The UAE, KSA and Egypt were among six other countries were invited to join the BRICS economic group. BRICS is an acronym for the group of countries – Brazil, Russia, India, China, and South Africa – that have come together to form a strategic partnership. The BRICS 2023 summit was held last month in Johannesburg. The three-day summit was dominated by discussions on expanding the bloc. The new membership will be effective from January 1, 2024. Economic powerhouse BRICS countries are described as one of the main driving forces of global economic development. BRICS operates through various cooperation formats and mechanisms. This includes annual summits hosted by member countries, leaders’ meetings on the sidelines of other major summits such as the G20, and engagements among high representatives responsible for different sectors. The working cooperation groups cover elds like agriculture, healthcare, IT, science, innovation, and more. Stated goal According to a document that described the goals of the group, it aims “to promote dialogue and coopera- tion among our countries in an incremental, proactive, pragmatic, open and transparent way. The dialogue and coopera- tion of the BRICS countries is conducive not only to serving common interests of emerging market economies and developing countries, but also to building a harmonious world of lasting peace and common prosperity.” THREE REASONS WH Y BRICS countries play a key role in global economic development due to their vast population and abundance of natural resources Sobha Realty Expats in Kuwait GOOD MONTH BAD MONTH The top news and business headlines from the region S E P T E M B E R 2023 The BRICS group is solidifying its presence on the global stage 8 Vol. 24/10, September 2023 The current population of the UAE is 10.17 million, a rise of 0.89 percent from 2022. As of August 2023, the number of people living in Dubai stands at 3.61 million, according to the of cial data from the Dubai government. The population density of the UAE stands at 121.59 person per square kilometre, with most of the population residing in Abu Dhabi and Dubai. The current total expat population in the UAE stands at 9 million. As of this year, the number of Indians currently in the UAE is 3.554 million. UAE population Others 38.55%Next >