Dirhams & Dollars

Lab-grown meat; those aren’t words that gets most people salivating but that hasn’t stopped the food industry from turning it into a billion dollar industry. Proponents of lab-grown meat, also known as cultured meat, talk up its many benefits, including how it is more ethical than factory farming, less harmful to the environment, and less susceptible to disease. But how does it taste? And will people accept it? At least one burger chain is betting that people will, and the industry is expected to be worth trillions by the middle of next decade. We discuss the various meaty issues surrounding this tasty subject.

Last week was a tumultuous one for the Dubai Financial Market. A number of listed companies, including Marka and DSI, were forced to disclose that they were either in talks to liquidate, or were under investigation. In today's episode, we delve in to where things went wrong, and what investors can do to remedy the situation. Are the region's shareholders too passive? Do they need to make their presence felt, instead of standing idly by whilst board members run the show?

Are shorter working hours in Ramadan just a myth? by Gulf News

Musicians have, for whatever reason, long avoided making Dubai a fixture on their world tours. With a handful of notable exceptions, the Middle East has never been graced with the sames caliber of artists that Europe or Asia has. So, when the press release for the new Dubai Arena, since renamed the Coca-Cola Arena, said that the venue filled a void between Istanbul and Singapore, they may very well have been right. So we look at what the new arena is promising to offer in terms of sports, comedy, and music, how it sizes up to its international competitors in other key cities, and what to expect logistically if you decide to visit. We also ask how it will impact the other, smaller venues in Dubai, and what kind of ticket prices will need to be realised in order for Meraas, the developer, to justify the millions of dollars it has presumably spent building the state-of-the-art arena.

Expo 2020. This is what every business in the UAE is waiting for; the exposition that is coming to Dubai next year, and bringing with it a Dh122-billion benefit to the economy. We delve into a report by EY discussing exactly what the Expo will mean for the UAE economy and its different industries. Who stands to benefit most? And why exactly are some of us less than thrilled about this mega event? We discuss our own takes on the Expo, and guesstimate how it will affect people both while it takes place and years after it’s over.

What is the future of transport in the region? On this meandering and discursive episode of the podcast, the team talk about fantasy transportation methods, what kind of transportation the Middle East needs more of, and whether flying cars will ever be a thing. We discuss questions like: Why are electric scooter rentals illegal? Why is car pooling illegal? When will they build a train between Dubai and Abu Dhabi? Okay, maybe not flying cars, but what about flying motorcycles? Dubai Police says they are on their way…

After months of speculation, ride-hailing firm Uber finally announced its acquisition of local hero Careem, in what was the region’s largest tech acquisition ever. When the news broke, many were concerned that Careem, which has a strong local affinity with the UAE’s population, would be swallowed in to Uber and cease to exist. Others were pleased to see a home-grown start-up exit at such a high valuation. In this episode of the podcast, we discuss the pros and the cons of the acquisition, the factors that laid the groundwork for the deal, and the potential knock-on effects.

Credit cards, news, & TV: All the latest from Apple by Gulf News

In the finance world, there are banks that are “too big to fail.” In the tech world, there are the likes of Facebook, Google, and Amazon that are too big to…go offline, shall we say? The tech giants have been garnering a lot of attention over the past two years for what lawmakers see as a failure to protect democracies and a failure to keep consumers' personal details safe. In the wake of the New Zealand mosque shootings, lawmakers are once again pointing fingers at the likes of Facebook for failing to identify what was a hate-filled manifesto. So, what do we do now? Do we break up these tech companies? Scott thinks so, but Ed and Sarah disagree because even with broken up companies, there are troubles. Tune in to hear them argue that one out.

Headlines this week have been dominated by news of the tragic crash of an Ethiopian Airlines aircraft, killing all 157 people onboard. Coming so soon on the heels of the Lion Air crash in Indonesia, which similarly involved a new Boeing 737 MAX 8, the disaster has led to aviation authorities and airlines across the world grounding the model until it can be confirmed that there is indeed an issue with the aircraft. On today’s episode, we look at whether the Boeing 737 MAX 8 is safe to travel. We ask whether aviation authorities have been right to ground the plane so quickly, before details of Sunday’s accident are fully understood. We also discuss why the US federal aviation authority (FAA) has yet to close its airspace to the jet. The FAA is standing its ground in the face of mounting pressure, as aviation authorities around the world continue to forbid the plane from flying in their countries. Could it be to do with government dysfunction? Or is it simply the correct approach? We also look at the delays to flydubai’s services, and other issues facing travellers globally due to the crisis.

Are folding phones worth getting excited about? With both Samsung’s and Huawei’s folding phones expected to be hugely expensive, on today’s podcast we ask whether these phones are just a flash in the pan, or a genuine attempt to create the new form of phones for the future. As you might expect, opinions differ. Nonetheless, the team can agree on one thing: Whatever happens, mobile phone companies like Samsung do need to push the envelope to fight slumping sales. Whether that is through new phone designs or something different under the hood remains a point of contention. Ultimately, perhaps whether these devices are genuinely useful or just the latest trend comes down to who is using them.

If you have been living under a roof, and not a rock, this past year or so, you may have noticed that rents have been dropping rapidly. How much further do they have to fall? Well, if you own a property, you would probably hope that prices are close to bottoming out. If you rent, you presumably wouldn’t mind seeing them fall even further? So what is actually likely to happen? To answer that question, we asked Manoj Nair, property editor at Gulf News, to join us on today’s show. Manoj has been tracking property prices and rental rates for many years, and writes regularly about the state of the market in Dubai and the UAE. We talked to him about what caused the rents to fall as much as they did, the underlying factors influencing current prices, and where the market will likely go from here.

If you could go back in time and tell yourself what to invest in, where would you put your money? Well, on today’s Dirhams & Dollars we talk to a man who knows better than most where you should invest your money in 2019, and how to avoid that regret. Maurice Gravier, chief investment officer at Emirates NBD, sat down to talk to us about a wild 2018 in which most investments performed poorly, and why this year will be slightly different. He gave us his perspective on both the local and global markets, while sharing with us his top picks for investors in 2019. Gravier also shares with us his top risks for 2019, which include a number of regional concerns weighing on his investment outlook. Listen in to find out where the oracle of Emirates NBD, one of the Middle East’s largest banks, thinks investors should put their money this year.

After thousands of jobs cuts in the media industry in the span of just two weeks, we look at whether there is a future for journalism or not. Will everyone just continue to get their news from Facebook? And will that just encourage more ‘fake news’ to spread? We are joined by Alex Malouf, an Abu Dhabi-based communications professional and a former journalist, who discusses how newspapers went from being a goldmine to a loss-making investment. We also attempt to tackle bigger questions including whether we can afford to have free news much longer and whether we need to start taxing the tech giants in order to finance the media. (P.S. It’s kinda bleak.)

Dubai: Apple's latest financial statement, released on Tuesday night, outlined a tough environment for the tech giant: Last year saw sales slow across global markets, even while the Americas grew. The slowdown was largely caused by emerging market currency devaluations, according to CEO Tim Cook, making the company's already-expensive phones that much more pricey. In response to this, Apple says it will absorb that margin, keeping the prices of its devices at a more affordable level in places like China and Japan. But Apple's strategy to continue growing goes beyond price control: The company recently unveiled a new public programme of free classes that will be held at every Apple store around the world. The move will solidify the firm's spot as one of the most successful retailers in the world, while Apple hopes it'll introduce a whole new generation of users to its products. On today's episode, we discuss the merits of this strategy, what we can glean from Apple's financial results this week, and what the future is for one of the world's richest companies. Meanwhile, Ed shares some details from his trip to Cupertino last week, where he went to visit Apple at its secretive new headquarters there...

What exactly does Davos mean to you? Apparently that was a difficult question to answer for the Dirhams & Dollars team, with arguments raging throughout the episode on whether or not the event, which attracts business leaders and politicians from around the world, was even still relevant. It didn’t help that some of these arguments took us on tangents dealing with populism, nativism, and ‘the man on the street.’ But back to the point: Amid a backdrop of global unrest and mounting economic woes, leaders will meet this week in Switzerland to discuss issues facing the world. But will it even achieve anything?

The exit plan UK Prime Minister Theresa May has spent the past two years negotiating with the EU lay in ruins on Tuesday night, following a historic defeat in the House of Commons. Now the fun part begins: What the hell happens next? Where does Brexit go from here? The answer to that is complicated, and involves a number of possibilities. We try and dissect those different avenues on the podcast today, talking about what happened in the vote, and the likely outcome of the no confidence motion. Will there be a general election? A second referendum? A modified version of May’s deal? All of which will need to take place in the next eight weeks, if the UK wants to avoid asking for an extension to the March 29 deadline by which it must have exited the EU. All options remain on the table. Soft Brexits, Hard Brexits, No Brexits. Everything is still to play for. This brings much uncertainty. On Wednesday, it felt like the markets were holding their breath, waiting to see what came next. May’s defeat, if not its scale, had been largely priced in by the markets, experts argue, but the uncharted waters that the UK is currently entering represent great volatility. We talk about how the pound will react in the coming days, what British business people are currently thinking, and where the future of the UK’s relationship with Europe lies. So a straightforward podcast, then.

With CES taking place in Las Vegas this week, we sat down to talk tech. But the good kind! On today’s episode, we discuss the best gadgets coming out of the consumer electronics show, including smart home appliances, health tech, and flying cars. We debate whether smart home technology really works in the Middle East, or if the cost of rewiring your whole house is worth it? Also on this episode, we argue about whether technology has become too invasive, and what the trade-off between convenience and intrusiveness costs us. Get ready for self-driving taxis, wearable heart monitors, and shirt folding machines… It’s CES time baby!

The biggest, silliest, most surprising stories of 2018 were... by Gulf News

One of the most underreported stories of this year has been the Dubai stock market’s slow bleed. The emirate’s main stock index is down 25 per cent so far this year, and ranks as the worst performing market in the world in 2018. On today’s podcast we ask why? To help answer this question is Mohammad Ali Yasin, chief strategy officer at Al Dhabi Capital, who explains some of the reasons behind this dive. Is it a soft real estate sector, or a lack of new businesses listing on the bourse? We attempt to get to the bottom of what is going on, and look ahead to 2019. We also discuss whether things will get worse before they get better, and what signs of life the local market needs to see before investor confidence returns to the Dubai Financial Market.

The ongoing Brexit drama took yet another bizarre twist this week, as a vote of no confidence was called in Prime Minister Theresa May. She now faces the real prospect of being dethroned and replaced by someone else from within her party. We'll have more details as they become available. On today's episode, we look beyond the vote, and ask: What next for Brexit, and what next for the UK? Whoever is in charge of the country, they have a matter of only months to finalise the plan for Brexit, as the UK edges close to the abyss. We argue about the economic forecasts, what got us to this point in the first place, and what can be done to heal the wounds of the past two years.

After a brief respite on Monday, Wall Street shares dived on Tuesday once again on fears of slowing growth and a trade war truce that was hanging in the balance. It’s been a rollercoaster week for global markets, with key events punctuating the steady climb that most investors have enjoyed for several years now. Chief among those is the fragile pact that President Trump and President Xi agreed in Argentina last weekend on the sidelines of the G20 conference. That truce looked to be under threat as neither the US nor China would confirm the details of the deal, although as of Wednesday afternoon it looks to be gathering some momentum. Unfortunately, that wasn’t the story of Tuesday, when the three major US indexes dropped 3 per cent in one of their worst days in weeks. This was fueled in part also by growing concerns over global economic outlook, with analysts pointing to a flattening yield curve as evidence that confidence in the US economy is beginning to wane. In today’s episode, we discuss all this and more, including the UK’s tumultuous Brexit vote, in the context of whether we are in for a positive end to 2018, or if next year looks like it’ll be a volatile one.

Disclaimer: This episode contains lots of arguing and gloating, so turn your volume down. What’s there to argue about in the business world, you ask? Only Bitcoin, and the mayhem it has brought the finance world. A year after we recorded an episode during the cryptocurrency bubble, we take a look back at our predictions and see who got their price forecasts right. (Hint: one of us nailed it, while the other two were miles off.) We also discuss the rollercoaster ride that is Bitcoin prices, which fell from $20,000 last year to below $4,000 recently. We guesstimate where prices are headed now and what fueled the plunge in prices. Are there really solid fundamentals for cryptocurrencies, as Sarah argues? Or is our resident Grinch right when they say cryptocurrencies are only as valuable as you make them out to be?

And why does every holiday need to be commercialised? Last weekend, Dubai’s malls went head-to-head with websites like Noon and Souq to compete for a share of your hard-earned cash. On this week’s episode, we examine why people love a sale so much, and what leads companies to try and make money from every holiday possible (think Halloween, Valentine’s Day, Christmas, Eid, etc.) Consumer behaviours are changing, and less people are fighting with crowds in stores for a discount TV. More and more people are opting to shop sales digitally, from the comfort of their homes. But not everyone is sold on the e-commerce revolution. We talk to two people who aren’t interested in online shopping (and one who isn’t particularly interested in shopping at all), to find out what makes them spend, and the changing ways people are choosing to hit the sales.

US politics are spilling over into global markets a wee bit more than usual this week. First, the loss of the House of Representatives to the Democrats in last week’s US election and the impending gridlock it is expected to have on Washington seems to have markets more than a little on edge. All it took to start a selloff was Apple’s announcement that the sales of iPhones failed to show any growth in the previous quarter. It wasn’t long after that the entire tech sector, and then US markets, were getting hit hard. But if stock markets are getting it bad, then oil markets are even worse. After the US sanctions on Iran failed to have the desired effect thanks to some last minute exemptions, the oil market is now facing a glut. Prices have fallen almost $19 a barrel since September. What’s going on? Sarah, Ed and I hash it out, trying to figure out a reason - and then arguing about it.

As predicted by the majority of the statistical models, Democrats won the House of Representatives in the US midterm elections, while the Republicans retained a majority in the Senate. With Trump’s wings clipped, what does this mean for the US? On today’s podcast, we discuss what a split Congress will mean for Trump’s attempts to push through legislation over the next two years. Will an emboldened Democratic Party lead to probes, bickering, and deadlock? And if so, what impact will this have on the country’s economic outlook, and the market’s performance? We also talk more broadly about the impact of the election on the markets and the dollar, and the outlook for America’s trade posturing going forward.

Cold winds are blowing, and sanctions are indeed coming. Again. The US will reimpose sanctions on Iran from November 5 after accusing it of regional destabilisation and inflammatory military provocations. That means Iran will technically not be allowed to sell its oil to any outside countries, although the US has already announced eight exceptions, thought to include India and South Korea among their ranks. We discuss the potential impact of sanctions and look at what might happen in the global oil market after Monday. Meanwhile, the US is set to go to the polls on Tuesday night to vote in a crucial midterm election that has been called by many a "referendum on Trump's presidency." What does it mean for the markets? Will they bounce back as they usually do following a midterm election, or will the October slump continue in to November? We chat about what to expect, and whether or not to be worried.

Is austerity really over in the UK with the new budget? by Gulf News

What is going on with the markets? Are disappointing results by the big tech firms to blame? Or are underlying trade tensions weighing on stocks? Away from markets, this week sees presidential elections in Brazil, more companies reporting third quarter results, and decisions from the Bank of Japan and the Bank of England. We also discuss the US jobs report, expected on Friday, and how political tensions leading up to the midterm elections 6 could roil markets further.

Has your grandmother pivoted to streaming? No? Well, she's in the minority. Seemingly every major tech firm has, in recent years, decided to get involved in video streaming in one way or another. What does this mean for the consumer? And in particular, the Middle Eastern consumer? We debate whether or not an international giant such as Netflix is liable to swoop in and start producing high quality Arabic television for the native audience here. Or will local players such as OSN and Starz Play beat them to it?

It’s earnings season, baby! Which is to say it’s a busy week during which we’ll mostly be reading financial statements as listed companies start reporting their results for the third quarter of 2018. We discuss the (few) earnings that have been released already, and which companies we’re keeping our eyes on. We also discuss the recent volatility in stocks and what we’re expecting in financial markets going forward.

This year’s GITEX technology week highlights the good, the bad and the “still in development.” It’s another year and another Gitex. On this episode, we talk about some of the technology we’ve seen at this year’s show. Some of the most interesting pieces of technology were the bits that are still very much still in development, such as machines that can read brain waves or a brand new internet, as suggested by the guy who invented the first one, Sir Tim Berners-Lee. We also talk about some of the most hyped technology at the show, including augmented/virtual reality, artificial intelligence, and blockchain. Is it as big and important as everyone is being lead to believe, or is it just hype?

Gitex Technology Week kicked off on Sunday amid a flurry of official visits, gadget unveilings, and keynote presentations. We wrapped up day one of the show, while looking ahead to the coming week, and what visitors can expect out of the next four days of Gitex. Away from the technology, we also keep an eye on falling markets, with Saudi Arabia’s bourse taking a big knock on Sunday as a result of increasing diplomatic tensions with the US. We also talk about emerging currencies and the rupee in particular, which has made a slight recovery in recent days. Last, but certainly not least, it’s earnings week, so we can expect a flood of bank results this week, with potentially a few of the US technology giants like Facebook thrown in for good measure. Hold on to your hats, it’s going to be a busy week…

It has not been a good year for emerging markets or their currencies, but the drama this week is concerning. It started with the Indian Rupee continuing its daily march to new record lows and by Tuesday was witnessing the Pakistani Rupee’s stellar dive, thanks to the announcement of another IMF bailout. It makes you wonder: what’s going on? The answer short answer is: problems with current account balance deficits. Since that’s an answer that leaves a lot to be desired, Ed and Scott dive deeper into the economics behind these problems. They discuss whether the situation is as bad as everyone seems to be suggesting, and what, if anything, can be done about it.

It’s a great week to be a finance geek! For starters, finance ministers and central bankers from G20 countries will meet this week at a conference in Bali where they are expected to discuss everything economics, monetary policies, and trade. And if that’s not enough to get your finance engines running, we also discuss the Indian rupee, which has been hitting one low after the other. Elsewhere in messy business, Brexit. Prime Minister Theresa May appears to have gained popularity following her speech (and dance!) at the Conservative Party Conference. We discuss what happens next in Brexit talks, and whether May’s moves actually amounted to much.

Finally, after a long summer, things appear to be kicking back in to gear. Dubai is set to host two of its best-known events this week, with the return of Cityscape Global and GITEX Shopper. The latter is expected to see crowds flock to the Dubai World Trade Centre in search of a bargain on gadgets and larger electronics, such as televisions and laptops. Cityscape, meanwhile, will bring together the country’s property developers, real estate agents, and government officials, in honour of one of Dubai’s most important industries. The likes of Damac and RAK Properties are expected to unveil large projects, with participants such as Nakheel, Emaar, and Azizi also likely to play a big role in the event, often seen as a barometer of the property market’s health. Globally, Brazil is set to go to the polls this week in a general election that will decide a new president and vice president, while back in the UK, the Conservative party will meet for its annual conference, with a number of major Brexit announcements anticipated.

The gig, or sharing economy, was originally envisaged as a way to provide people with a way to make money via the internet. But beyond people renting spare bedrooms, or selling handmade jewellery and surplus spaces in their cars on long journeys, many see the giants of the industry, such as Uber and Deliveroo, as having a dark side. We discuss what happens next for the deluge of start-ups offering such services, and we look at the trend of consolidation, with Uber reported to be considering acquiring both Deliveroo and regional local rival Careem.

Dubai: On today’s episode, we look ahead at the week to come. A critical five days in the Brexit process, British Prime Minister Theresa May is currently battling dissent from European leaders, and from the opposition party at home. Labour party leader Jeremy Corbyn has promised that he will respect his party’s decision if they decide to back a second referendum on the UK’s membership of the European Union, representing yet another blow to May’s plans. With all of this confusion, the pound sterling is dropping to new lows, driven down by talk of a “no-deal Brexit” from the Prime Minister, which would see the UK crash out of the EU next March with no arrangements in place, potentially causing chaos. On the other side of the pond, the US Fed is due to meet this week, where they are expected to raise interest rates. Locally, it’s another quiet week in Dubai, although with some major events lurking round the corner, it is unlikely to stay quiet for long…

APPLE ALERT: Stop everything, because we have our hands on the yet-to-be-released iPhone XS Max and the latest Apple Watch!! Huzzah! We fiddle around on-air with some of Apple’s latest products, which will be hitting the UAE’s stores on Friday (September 21) and give you our verdict. We talk everything iPhone XS Max including the latest iOS12, the improved camera, e-SIM feature, animojis, and more. Our resident Apple fanboy, Scott Shuey, tells you what his favourite feature is and why, while Ed and Sarah tell you why they may/may not be tempted to buy this phone. We also dissect the latest Apple Watch, and discuss the new health features it offers, and where it may lag behind. Tune in to hear more!

Hurrah! The world just got a new iPhone! A new series of iPhones, actually, which seems to always be a cause for celebration (and queues) for Apple fans all around the world. The new iPhones arrive to the UAE on Friday, so we talk about some of their new features, including the illusive e-SIM cards, which replace physical SIM cards. Tech aside, the other big news in the business world is still the decline in emerging market currencies. All eyes will still be on currencies for any respite after both the Turkish and Russian central banks hike rates.

Just about 10 years ago, Lehman Brothers collapsed, ushering in a financial crisis that wiped billions of dollars off stock markets, took away thousands of jobs, and changed the course of the world's economy. Today, we look back at exactly what happened, and what the world looked like when Lehman collapsed. (Fun fact: Plenty of people refused to even acknowledge the crisis when it first started. Fun fact #2: The crisis also took away most cars off Dubai's usually-jammed streets.) We talk about what the world has (or hasn't) learned from the last financial crisis, and discuss whether a new one is just around the corner.

Week-ahead: Why the emerging markets sell-off could spread by Gulf News

Abu Dhabi's decision to purchase Manchester City for £210 million 10 years ago this week is looking like an increasingly shrewd business move; the team looks capable of long-term success, and its management team could last for many years. But sporting success aside, how profitable is owning a football club? And when is the right time to exit that investment? We delve in to the complex business of football clubs, the marketing value for a foreign sovereign investor, and who the next Gulf state might be to enter the foray (hint: Chelsea might be up for sale soon. Saudia Airways shirt sponsors, anyone?)

Trade tensions are still brewing, and this time, it's Canada that's at the receiving end of a series of threats by Donald Trump. The US President said Canada is not needed in the North American Free Trade Agreement, and that he may only negotiate with Mexico. And if that escalation wasn't enough, the US may be preparing yet another round of tariffs on China. (Yes, we, too, have lost track of just how much the tariffs amount to now.) We discuss China, Canada, the US, and the latest updates on the seemingly-endless Brexit negotiations.

Today is Emirati Women’s Day, so we took the opportunity to discuss some hot topics, including women in technology, the pervasiveness of the bro-code that has led to scandals at some of the largest start-ups, and more broadly, the obstacles facing businesswomen. We chat about what the recent controversy surrounding Elon Musk would’ve looked like if Musk was not a man. Would the criticism of him have been differently worded? We are joined by Natasha D’Souza, an independent journalist who focuses on issues surrounding women in the tech industry, who provides an insight in to how the UAE compares to fellow financial hubs Singapore and Hong Kong when it comes to diversity and gender parity.

Summer slump? No such thing in the world of politics, as developments in Washington DC threaten to shake the markets yet again. With the conviction of two of US President Donald Trump’s former aides, the spectre of a showdown looms large, potentially scaring investors who are currently enjoying the longest bull market in history (stocks have made uninterrupted gains since the market hit bottom in March 2009). Elsewhere, trade deals linger on the horizon, as Nafta (the North American trade pact) talks reportedly make progress, with the Mexicans claiming that Trump has dropped one of his stiffer demands regarding a ‘sunset clause’. The scarcely-reported trade talks between the US and China last week ended with nothing to show, potentially presenting yet another powerful headwind to global commerce. Finally, a slew of country economic data is on offer for number nerds this week. Huzzah!

Podcasts and audibooks have caught fire in recent years, offering publishers a brand new way to access their audiences. Despite scepticism from some that a return to what is essentially radio would ever be possible following the arrival of the television, and later the internet, the smartphone has enabled people to access audio content from anywhere. Its appeal has been huge: People enjoy listening to documentaries, discussions, comedies, serialised dramas, and all kinds of other genres, all without any visual accompaniment. This trend has yet to hit the Middle East, however, and on today's podcast we talk to the country manager for Storytel, one of the world's fastest growing audiobook platforms, about what it will take to make audio a success in the region, and how long before it truly catches on.

With Eid Al Adha dominating the minds of most Middle East residents this week, the next five days will be quieter than usual in the UAE. That being said, it won’t stop the relentless churn of news from around the world, as US sanctions on both China and Russia finally snap in to place at the end of this week. The value of tariffs on Chinese imports in to the US will rise to $50 billion on August 23, while trade sanctions on Russia are being dubbed as the “bill from hell.” These include potential curbs on the operations of state-owned Russian banks, restrictions on holding Russian sovereign debt as well as measures against Western involvement in Russian oil and gas projects, according to news agency Reuters. We discuss the blow-back from these sanctions, and what they mean for global trade. We also discuss currency fluctuations, and where the bombing Turkish lira now stands.

Are the titans of tech out of their depth? That was the question posed in a recent Bloomberg column, and on today's podcast, we look at the inability of some of the so-called geniuses to ran a company in a rational way. Musk, in particular, has come under scrutiny in recent months for his erratic behaviour, his offensive Twitter remarks, and his flashy private life. Zuckerberg, too, has been seen on many occasions as lacking basic compassion, and an understanding of what his customers really want. So the question becomes, should these visionaries be the ones actually executing their visions? Or should they entrust such grandiose, disruptive ideas to a Harvard MBA? Sounds a bit dull, no? We debate whether there is a perfect balance between ties and turtlenecks, suits and sandals, and corporate focus meeting the often lofty visions of Silicon Valley.

Considering a last minute Eid vacation? On today's podcast, we look at why it's such a good time to go on holiday to Turkey. With a brewing currency war between Turkey and the US, there have been some caught in the crossfire, such as the euro. The pound sterling, on the other hand, has simply crashed because of continuing fears over Brexit, and what will happen after Britain exits the European Union next year. Iran too continues to suffer, with its currency, the rial, entering a period of hyperinflation as it faces renewed sanctions courtesy of the US. This could be disastrous for an already weakened Iranian economy, and we look at the knock-on effects of Iran's financial woes.

Is television dead? Is this the consensus now? Well, possibly. According to a study by Britain's Office for National Statistics, nearly half of adults use paid internet-based services to watch content. The Gulf News Business team delves into this study to find out exactly how TV-watching patterns changed and the future of television. And if everyone is willing to pay to stream video content, will these paywalls eventually be up to on podcasts? And news? Tune in to hear more.