{"id":87480,"date":"2023-12-27T00:00:00","date_gmt":"2023-12-27T00:00:00","guid":{"rendered":"https:\/\/enterpriseam.com\/uae\/phoenix-group-is-acquiring-25-of-lyvely-plus-its-almost-2024-heres-how-to-look-at-the-year-that-was\/"},"modified":"2023-12-27T00:00:00","modified_gmt":"2023-12-27T00:00:00","slug":"phoenix-group-is-acquiring-25-of-lyvely-plus-its-almost-2024-heres-how-to-look-at-the-year-that-was","status":"publish","type":"post","link":"https:\/\/enterpriseam.com\/uae\/2023\/12\/27\/phoenix-group-is-acquiring-25-of-lyvely-plus-its-almost-2024-heres-how-to-look-at-the-year-that-was\/","title":{"rendered":"Phoenix Group is acquiring 25% of Lyvely. PLUS: It\u2019s almost 2024. Here\u2019s how to look at the year that was"},"content":{"rendered":"

Good morning, wonderful people. <\/strong>That\u2019s the last time we\u2019ll be saying that this year, as we prepare to take a long New Year\u2019s weekend. We\u2019ll be off from tomorrow and will be back in your inboxes on Tuesday, 3 January at the usual time.<\/p>\n

REMEMBER- Everyone\u2019s off for the new year. <\/strong>Private sector employees<\/a>, federal government<\/a>entities<\/a>, and the ADX<\/a> and DFM<\/a> will all be off on 1 January and will resume operations next Tuesday, 2 January. <\/p>\n

THE BIG STORY here at home is that we\u2019re ending the year with an M&A<\/strong>, with recently-listed crypto player Phoenix Group acquiring a 25% stake in content monetization platform Lyvely. <\/p>\n

** You\u2019re reading Zero Issue #21 of EnterpriseAM UAE. <\/strong><\/p>\n

** Think of a zero issue as a \u201cbeta.\u201d<\/strong> This issue has not been published or distributed to a wide audience. <\/p>\n

** Did you receive this as a forward?<\/strong> Email editorial@enterprisemea.com and let us know if you\u2019d like to be added to our list of beta readers ahead of our launch.<\/p>\n

** Have a comment, criticism, or story tip? <\/strong>Hit up patrick@enterprisemea.com<\/a>. <\/p>\n

IN MEMORIAM-<\/p>\n

<\/a> Deputy ruler of Umm Al Quwain <\/strong>Sheikh Abdullah Bin Rashid Al<\/a><\/strong>Mualla<\/a><\/strong>passed away yesterday at the age of 52<\/strong>, Wam<\/a> reported yesterday. <\/p>\n

\n

POLICY-<\/p>\n

<\/a> Dubai\u2019s Media Council has approved a new media strategy encompassing 21 <\/strong>projects<\/strong>, including developing e-games, reports Wam<\/a>. The new strategy will \u201cboost its creative capabilities and expand private sector partnerships,\u201d the Dubai Media Office said on X<\/a>. The move also aims to \u201c[double] media sector's contribution to Dubai's GDP and [attract] more foreign direct investment,\u201d the statement said.<\/p>\n

Sharjah\u2019s government has made some changes to the health ins. package for its <\/strong>government employees in 2024 <\/strong>at a meeting yesterday, reports Wam<\/a>. The council amended the policy with new benefits and raised welfare ceilings, though Wam did not disclose how much it was raised. The ins. covers over 116k government employees and their family members.<\/p>\n

Next on the agenda:<\/strong> Council members are drafting a general budget for Sharjah government departments, which will be submitted to the Sharjah Consultative Council for completion.<\/p>\n

\n

PUBLIC SERVICE ANNOUNCEMENTS-<\/p>\n

The Emirates Road in Dubai has been fully <\/strong>reopened<\/a><\/strong> in both directions<\/strong> between Expo Road and Al Fayah Truck Road after it was temporarily closed due to flooding, the Road and Transport Authority said on X<\/a>.<\/p>\n

<\/a> Abu Dhabi reins-in winter food truck craze: <\/strong>The municipality said on X<\/a> that it will not issue or renew any food truck permits until further notice. The suspension only applies to \u201cunserved areas\u201d \u2014 meaning that if you run a mobile food cart in Khalifa City, Al Hudayriat, Al Shamkha, Al Khtam, or at Adnoc stations, you can pretend you never read this.<\/p>\n

\n

WATCH THIS SPACE-<\/p>\n

<\/a> #1- The Human Resources and Emiratisation Ministry aims to hire 1k Emiratis per <\/strong>year in <\/strong>the private education sector starting 2024 <\/strong>under its new teaching specialists program, it said in a statement<\/a>. It plans to hire 1k teachers every year until 2028. The initiative will focus on providing training and curated courses in Arabic and Islamic and social studies as well as kindergarten, primary school, and special education teacher-training for Emiratis registered on Nafis. It targets Emiratis with bachelor\u2019s degrees in education for the teaching posts, and high school graduates for admin roles.<\/p>\n

Nafis inked MoUs with five universities to help develop the program<\/strong>, namely the Higher Colleges of Technology, United Arab Emirates University, University of Sharjah, Sharjah Education Academy, and Emirates College for Advanced Education. <\/p>\n

#2- Own a family business? Get in touch with the Dubai Centre for Family Businesses\u2019 <\/strong>about its three new <\/strong>toolkits for family-owned businesses.<\/strong> The toolkits focus on continuity, sustainability, and competitiveness, Wam<\/a> reports.The toolkits were developed in order to \u201cprovide a reference point for families on topics related to governance and succession planning protocols,\u201d according to a statement<\/a>. <\/p>\n

About the center: <\/strong>The Dubai Centre for Family Businesses was launched under the umbrella of Dubai Chambers in May 2023. Its role is to ensure the growth and long-term sustainability of family businesses in Dubai. <\/p>\n

SOUND SMART- Family-owned businesses account for 90% of all private-sector activity <\/strong>in Dubai. Plenty of them date back 55-70 years, making generational transition a big them of the coming decade or more. <\/p>\n

\n

THE BIG STORY ABROAD- <\/p>\n

The news flow has slightly picked up this morning <\/strong>as the Christmas news slump ends:<\/p>\n

#1- US strikes Iraq: <\/strong>The US military has launched strikes on three Iraqi facilities that the US said<\/a> were being used by Hezbollah and affiliated groups. The strikes came in response to a series of attacks against US personnel in Iraq and Syria which it said were carried out by Iranian-backed militias. (Bloomberg<\/a> | Reuters<\/a> | BBC<\/a> | CNN<\/a>)<\/p>\n

#2- US extends tariff exemptions on Chinese products: <\/strong>The US has extended<\/a> tariff exemptions for hundreds of Chinese products \u2014 including pumps, electric motors, car parts, bicycles, and vacuum cleaners \u2014 and 77 Covid-related products \u2014 like face masks and hand sanitizing wipes \u2014 due to expire on 31 December to 31 May. The tariffs were originally imposed by former US President Donald Trump\u2019s administration in 2018 after an investigation found China guilty of unfair trade practices. (Reuters<\/a>)<\/p>\n

\n
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\n Get Enterprise<\/b> daily
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The roundup of news and trends that move your markets and shape corporate agendas delivered straight to your inbox.<\/p>\n

Subscribe here<\/a>\n <\/div>\n<\/p><\/div>\n<\/div>\n

MARKET WATCH-<\/strong><\/p>\n

UAE bourses had a busy Monday: <\/strong>UAE stock exchanges recorded over AED 1 bn in market liquidity on Monday, Wam<\/a> reports. The robust activity came on the back of investors trading in over 207.5 mn shares across over 11.7k transactions. Trading action on the ADX generated AED 885.8 mn in cashflows, while the DFM gained AED 115.2 mn. <\/p>\n

Top gainers: <\/strong>The strong trading activity was led by International Holding Company<\/a>(IHC)<\/a> on the ADX and Dubai Electricity and Water Authority (Dewa) on the DFM, according to Wam. IHC logged transactions worth AED 214.1 mn. Dewa led trading activity on the DFM, recording AED 24.5 mn in transactions.<\/p>\n

CIRCLE YOUR CALENDAR-<\/strong><\/p>\n

Sharjah Youth kicked off Rubu' Qarn Season for Literature and Arts<\/strong>, showcasing Sharjah youth\u2019s creative and artistic work, on Sunday, Wam<\/a> reports. Sharjah Youth<\/a> began the fourth season of the event with seven film screenings on Sunday evening in Flagpole Square on Khorfakkan Beach. The event will run until Friday. <\/p>\n

This weekend: The year rounds off in style for pop fans<\/strong>, with Sean Paul and TI playing<\/a> Dubai\u2019s Coca Cola Arena on Saturday, 30 December. Saturday will also see X Factor India star Jubin Nautiyal perform<\/a> at the DutyFree Tennis Stadium.<\/p>\n

Madinat Jumeirah\u2019s Festive Market runs throughout the holiday season<\/strong>, with a host<\/a> of parties across Dubai, Abu Dhabi, and the rest of the country on 31 December. Abu Dhabi is even planning a world record-breaking 40 minute firework display<\/a>. <\/p>\n

Arab Women Sports Tournament registration deadline extended:<\/strong> The deadline to register for the Arab Women Sports Tournament (AWST) \u2014 scheduled to take place in Sharjah between 2-12 February 2 to 12 \u2014 has been extended to 31 December due to high demand, Gulf News<\/a> writes. The tournament includes volleyball, table tennis, basketball, shooting, archery, fencing, athletics, and karate.<\/p>\n

A martial arts showdown will kick off the new year<\/strong> at the Abu Dhabi Extreme<\/a>Championship 2 (ADXC 2)<\/a> on 19 January at Mubadala Arena. The main event will be a jiu-jitsu clash between UFC champions Aljamain Sterling and Chase Hooper, with two co-main events and ten additional duels also on the bill.<\/p>\n

The first Dubai Challenge Cup football tournament will be taking place between 26-28<\/strong> January<\/strong>, according to the Dubai Media Office<\/a>. Saudi Club Al Ahli will play China\u2019s Wuhan Three Towns, while Egypt\u2019s Zamalek SC will play Morocco\u2019s Raja Club Athletic, before the final is played on the final day, along with a third position match.<\/p>\n

The Sharjah Entrepreneurship Festival (SEF) is taking place on 3-4 February<\/strong>, featuring 150+ experts in nine sectors, including technology, creative economy, and sustainability. The event will be attended by a host of company founders, industry leaders, investors, and small entrepreneurs, Gulf Today<\/a> reports.<\/p>\n

Check out our full calendar on the web<\/strong> for a comprehensive listing of upcoming news events, national holidays and news triggers.<\/p>\n","protected":false},"excerpt":{"rendered":"

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