Africa's urbanization is driving demand for tower cranes, with manufacturers like Manitowoc, Potain, and Liebherr experiencing growth despite challenges such as competition and currency constraints. Key markets include South Africa, Egypt, and Kenya, with projects ranging from high-rise buildings to infrastructure. Potain's cranes are favored for their ease of installation and innovative technology, while Liebherr focuses on productivity and customer support. The market is influenced by global economic factors, with infrastructure investment expected to boost demand in 2024.

The construction boom in 2024 has led to increased demand for advanced excavator models from manufacturers like Caterpillar and Hitachi Construction Machinery. Caterpillar's new 336 model and Hitachi's ZX350H Zaxis-7G excavator are highlighted for their enhanced performance, fuel efficiency, and ergonomic features. These machines are designed to meet the needs of diverse projects and harsh conditions in the Middle East and Africa. Both companies emphasize customer feedback and innovation in their product development, aiming to provide reliable and cost-effective solutions.

Backhoe loaders remain a crucial component on construction sites, with new models from leading manufacturers like JCB, Bobcat, and Caterpillar offering enhanced productivity, ease of use, and durability. JCB's new models, including the 3CX series, focus on operator comfort and efficiency, while Bobcat's B730M and B730R cater to fleet contractors with reliable designs. Caterpillar's Cat 426F2 is tailored for Middle Eastern and African markets, emphasizing operator comfort and productivity. The article highlights the importance of attachments in enhancing machine versatility and performance, with a focus on the Middle East and Africa regions.

Truck manufacturers are experiencing increased demand in Africa and the Middle East, driven by post-COVID economic recovery and infrastructure investments. Tata Motors and UD Trucks are optimistic about growth prospects, with Tata Motors focusing on a diverse vehicle portfolio and UD Trucks expanding its market presence in East Africa. Both companies emphasize advanced technology, customer support, and training to enhance productivity and efficiency. Key models like Tata's Prima and Signa, and UD's Croner and Quester, are tailored to meet regional demands, with features that improve fuel efficiency and reduce operational costs.

The article discusses the financial challenges faced by businesses and individuals in the UAE due to the COVID-19 pandemic, and the various relief measures offered by banks. Payal Mirchandani, CEO of Pinca Trading, and Omar Youssef, an employee at Orora, share their experiences with obtaining payment holidays from their respective banks. The UAE Central Bank's Targeted Economic Support Scheme (Tess) is highlighted, which is part of a larger stimulus package. The article also mentions the experiences of Natasha Hatherall-Shawe, owner of TishTash, and mortgage broker Arran Summerhill with mortgage payment deferments. Additionally, the article covers credit card relief options and the limitations faced by non-residents and those who had defaulted on loans prior to the crisis. The role of financial comparison website Souqalmal.com and the proactive approach of banks like Commercial Bank of Dubai and Mashreq in offering relief are also discussed.

The UAE Central Bank has introduced new capital rules for banks, which will require local banks to have a minimum of 2.00 billion dirhams in paid-up capital by the end of 2023. Specialized lenders with assets capped at 25 billion dirhams will need 300 million dirhams. These rules are expected to put pressure on smaller banks and may lead to further consolidation in the UAE's banking sector, which is considered overbanked. Larger banks are expected to meet the new requirements easily, while smaller banks, especially those with declining profitability, may struggle. The rules do not apply to banks incorporated in financial free zones like ADGM. Analysts predict that the new rules may lead to mergers and acquisitions, driven by the need to build scale and respond to competition from fintechs. The UAE banking industry has shown resilience and solid capitalization despite profitability challenges during the COVID-19 crisis. The article also discusses the potential impact on foreign banks and the emergence of new digital banking entities in the UAE.

The article discusses the potential of blockchain and cryptocurrencies to revolutionize the remittance industry in the UAE and Saudi Arabia, which are among the top countries for outward remittances. Hasan Heider from 500 Startups and Navin Gupta from Ripple highlight the benefits of using these technologies for remittances, such as lower costs, increased efficiency, and reduced error rates. Ripple's cryptocurrency, XRP, is presented as a faster and cheaper alternative for international transfers. The article also mentions the challenges of adopting cryptocurrencies, including regulatory hurdles and the need for widespread acceptance within the financial ecosystem. It notes that some companies, like MoneyGram and Denarii Cash, are already exploring or using cryptocurrencies for remittances. The UAE is moving towards licensing cryptocurrency exchanges through the Abu Dhabi Global Market, and the central banks of the UAE and Saudi Arabia are considering a shared digital currency for cross-border transactions.

The article discusses sukuk, which are Sharia-compliant financial certificates similar to bonds but with key differences due to the prohibition of interest under Sharia law. Sukuk must involve an underlying transaction and investors share in both profits and losses. The article compares the performance of sukuk funds to conventional bond funds, noting that sukuk funds had strong returns in 2019 but mixed results in previous years. It highlights the low volatility and potential diversification benefits of sukuk for conventional investors' portfolios. However, the article also points out the limited number of sukuk issuers and the concentration of sukuk in emerging markets, which may deter conventional investors. It mentions several financial institutions and funds, including Franklin Templeton, Emirates NBD Asset Management, and Wahed Invest, and discusses the broader context of fixed-income market performance.

The article discusses the impact of a Central Bank of the UAE policy change that occurred a year ago, which increased the early settlement fee for home loans to 3 percent. This fee is charged when homeowners switch their mortgage to another bank, and it can amount to a significant sum, potentially negating the benefits of moving to a lender with a lower interest rate. Mortgage brokers, including Haresh Lalwani of Right Move and Chris Schutrups of MortgageFinder, have expressed concerns about the fee hike. The article also shares the experience of Pedro Silva, a Dubai pilot, who faced a substantial fee when trying to switch his mortgage from Emirates NBD to another bank. Some banks, such as First Abu Dhabi Bank and Commercial Bank of Dubai, have not yet implemented the new fee structure. The article suggests that customers should carefully read mortgage contracts and consider professional advice when dealing with high buy-out fees.

The article discusses the significant advancements in space exploration in 2020, highlighting the launch of the UAE's Hope probe and the increased deployment of satellites. It notes the growing investor interest in space, driven by tech moguls like Elon Musk and Jeff Bezos, and the UAE's Mubadala Investment Company's investments in the sector. Morgan Stanley predicts the space economy could reach $1 trillion by 2040. The article mentions the role of CubeSats and off-the-shelf electronics in reducing barriers to space entry and the potential of space technologies in everyday life, such as GPS. It also covers the increasing demand for geospatial intelligence and high-speed internet via satellites. The UAE's development as a space hub, its Space Law, and investment opportunities in space-focused ETFs and private markets are also discussed. The article emphasizes the potential risks and rewards of investing in space exploration companies.