Al Waseet International is restructuring in preparation for an initial public offering in the UAE and Kuwait in 2012.
Al Waseet International is restructuring in preparation for an initial public offering in the UAE and Kuwait in 2012.

AWI prepares for 2012 IPO

Al Waseet International (AWI), the Kuwaiti publisher of the Middle East editions of Marie Claire, Top Gear and Fortune magazines, is restructuring in preparation for an initial public offering in the UAE and Kuwait in 2012, its chief operating officer says. The company's only public listing is in Syria through one of its subsidiaries, the United Group.

But the structure being implemented, which brings United Group and its sister company, Al Wataniya, under the name AWI and divides the company into business units such as AWI Magazines, AWI Dailies, AWI TV and AWI Classifieds, will set it up for a wider public offering, said Majed Suleiman, the chief operating officer of AWI. "We are planning to do it in 2012 because I think it's the perfect thing to do when you are structured very well," Mr Suleiman said. "I think we have to share this experience with a lot of people."

AWI takes its name from Al Waseet, the weekly classified advertising newspaper the company launched in Kuwait in 1993 and that today operates in 35 cities and 12 countries. The paper became the foundation for a company that, in addition to publishing well-known western magazines in Arabic, has won lucrative contracts to sell advertising for major pan-Arab media brands such as Al Jazeera and Al Hayat.

The Al Jazeera deal played a large role in the company's 15 per cent profit growth last year, compared with 2008, Mr Suleiman said. The company, which employs about 3,500 staff, won the contract from Q.Media, the sole advertising representative of Al Jazeera, to sell the pan-Arab satellite broadcaster's advertising outside of its domestic market of Qatar. "It's about US$60 million [Dh220.3m]," Mr Suleiman said. "This is how much we have to sell every year." To reach that volume, the company hired 200 new staff and opened an office dedicated to Al Jazeera ad sales in Paris, he said. Those new employees accounted for half of the workers the company hired last year. Al Jazeera bought the rights to this year's FIFA World Cup, along with the rest of the Arab Radio and Television network's sports rights late last year. The Al Jazeera deal also represents a new direction for the company, which plans to broaden its former focus on print to include more television. AWI launched its own branded television station, Waseet TV, last June, with a mix of television shopping, "infomercial" and "advertainment" programming.

"This is our plan," Mr Suleiman said. "In 2010 and 2011, we will move into television." The move will help offset some of the losses arising from the company's print deals last year, particularly in Saudi Arabia. Mr Suleiman said a loss of property advertising in Saudi last year contributed to Al Hayat's ad sales amounting to only 30 per cent of what they had been the year before. Al Wataniya, AWI's Saudi media sales subsidiary, is a 50-50 joint venture between AWI and Al Hayat's publisher, the Makshaff Group, Mr Suleiman said. AWI is owned by four partners: Bashar Kiwan, the chief executive; Mr Suleiman; Marwan Dimas, the general manager; and Sheikh Sabah Jaber Mubarak Al Sabah, a Kuwaiti businessman. The company plans to continue expanding its titles to new markets within the region, including the introduction of Marie Claire and Top Gear to Qatar and Bahrain this year, as well as focus on its newest regional rights acquisition, Fortune. Fortune, a global business magazine launched in 1930 and owned by Time Inc's Fortune/Money Group, signed a deal last November to launch the Middle East editions of its magazine this spring.

Mr Suleiman said the company would be producing Arabic-only editions to start with, followed by English editions as markets merited, with UAE, Saudi and Kuwaiti editions to launch this summer. The launches come just over a year after Fortune's main rival, Forbes, folded its Arabic edition. Mr Suleiman said the closure of Forbes left a gap that needed to be filled. "I think we need a real, good title for economics in Arabic," he said. "I think our innovation is going to be the ability to bring some new content to the local market, while also bringing some advertising to the local market. That's what we do."

The five pillars of Islam

1. Fasting

2. Prayer

3. Hajj

4. Shahada

5. Zakat 

Get Out

Director: Jordan Peele

Stars: Daniel Kaluuya, Allison Williams, Catherine Keener, Bradley Whitford

Four stars


Burnley 1 (Brady 89')

Manchester City 4 (Jesus 24', 50', Rodri 68', Mahrez 87')


Company name: Klipit

Started: 2022

Founders: Venkat Reddy, Mohammed Al Bulooki, Bilal Merchant, Asif Ahmed, Ovais Merchant

Based: Dubai, UAE

Industry: Digital receipts, finance, blockchain

Funding: $4 million

Investors: Privately/self-funded

A cheaper choice

Vanuatu: $130,000

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Hobbies: Travelling, going to the gym

Inspiration: Father, who was a captain in the UAE army

Favourite read: Rich Dad Poor Dad by Robert Kiyosaki and Sharon Lechter

Favourite film: The Founder, about the establishment of McDonald's

If you go

The flights
Emirates and Etihad fly direct to Nairobi, with fares starting from Dh1,695. The resort can be reached from Nairobi via a 35-minute flight from Wilson Airport or Jomo Kenyatta International Airport, or by road, which takes at least three hours.

The rooms
Rooms at Fairmont Mount Kenya range from Dh1,870 per night for a deluxe room to Dh11,000 per night for the William Holden Cottage.


Edinburgh: November 4 (unchanged)

Bahrain: November 15 (from September 15); second daily service from January 1

Kuwait: November 15 (from September 16)

Mumbai: January 1 (from October 27)

Ahmedabad: January 1 (from October 27)

Colombo: January 2 (from January 1)

Muscat: March 1 (from December 1)

Lyon: March 1 (from December 1)

Bologna: March 1 (from December 1)

Source: Emirates

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Company name: Namara
Started: June 2022
Founder: Mohammed Alnamara
Based: Dubai
Sector: Microfinance
Current number of staff: 16
Investment stage: Series A
Investors: Family offices

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Cyberbullying can take place on various platforms such as messages, on social media, on group chats, or games.

Parents should watch out for behavioural changes in their children.

When children are being bullied they they may be feel embarrassed and isolated, so parents should watch out for signs of signs of depression and anxiety

Living in...

This article is part of a guide on where to live in the UAE. Our reporters will profile some of the country’s most desirable districts, provide an estimate of rental prices and introduce you to some of the residents who call each area home. 


Manchester United v Everton
Old Trafford, Manchester
When: Sunday, kick-off 7pm (UAE)
How to watch: Live on BeIN Sports 11HD

if you go

The flights

Etihad, Emirates and Singapore Airlines fly direct from the UAE to Singapore from Dh2,265 return including taxes. The flight takes about 7 hours.

The hotel

Rooms at the M Social Singapore cost from SG $179 (Dh488) per night including taxes.

The tour

Makan Makan Walking group tours costs from SG $90 (Dh245) per person for about three hours. Tailor-made tours can be arranged. For details go to

Company Profile

Company name: Cargoz
Date started: January 2022
Founders: Premlal Pullisserry and Lijo Antony
Based: Dubai
Number of staff: 30
Investment stage: Seed

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Transmission: 9-speed auto
Fuel consumption: 7.3L/100km
On sale: November/December
Price: From Dh205,000 (estimate)

Company profile


Started:+January 2021 

Founders:+Sanad Yaghi, Ali Al Sayegh and Shadi Joulani 


Number of employees:+140 

Sector:+B2B Vertical SaaS(software as a service) 

Investment:+$5.2 million 

Funding stage:+Seed round 

Investors:+Global Founders Capital, Colle Capital Partners, Wamda Capital, Plug and Play, Comma Capital, Nowais Capital, Annex Investments and AMK Investment Office  

David Haye record

Total fights: 32
Wins: 28
Wins by KO: 26
Losses: 4


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Power: 235hp
Torque: 350Nm
Transmission: Nine-speed automatic
Price: From Dh167,500 ($45,000)
On sale: Now

The end of Summer

Author: Salha Al Busaidy

Pages: 316

Publisher: The Dreamwork Collective 

Director: Romany Saad
Starring: Mirfat Amin, Boumi Fouad and Tariq Al Ibyari


Liverpool 4 Southampton 0
Jota (2', 32')
Thiago (37')
Van Dijk (52')

Man of the match: Diogo Jota (Liverpool)


Dubai Kahayla Classic – Group 1 (PA) $750,000 (Dirt) 2,000m
Winner: Deryan, Ioritz Mendizabal (jockey), Didier Guillemin (trainer).
Godolphin Mile – Group 2 (TB) $750,000 (D) 1,600m
Winner: Secret Ambition, Tadhg O’Shea, Satish Seemar
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Al Quoz Sprint – Group 1 (TB) $1million (T) 1,200m
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UAE Derby – Group 2 (TB) $750,000 (D) 1,900m
Winner: Rebel’s Romance, William Buick, Charlie Appleby
Dubai Golden Shaheen – Group 1 (TB) $1.5million (D) 1,200m
Winner: Zenden, Antonio Fresu, Carlos David
Dubai Turf – Group 1 (TB) $4million (T) 1,800m
Winner: Lord North, Frankie Dettori, John Gosden
Dubai Sheema Classic – Group 1 (TB) $5million (T) 2,410m
Winner: Mishriff, John Egan, John Gosden


Company name: Revibe
Started: 2022
Founders: Hamza Iraqui and Abdessamad Ben Zakour
Based: UAE
Industry: Refurbished electronics
Funds raised so far: $10m
Investors: Flat6Labs, Resonance and various others


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Starring: Nour Al Ghandour, Mahmoud Boushahri

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Developer: Max Inferno
Consoles: PC, Mac, Nintendo Switch
Rating: 4/5