International lenders did not disclose specificities, but said it was part of global cost-cutting plansNovember 26, 2015 11:32
It’s all in the family—the Network of UAE family businesses
They all started as simple traders in the early 20th century. Decades later, these families have (mostly) traded in their distribution services, diversifying into a flurry of commercial activity.
August 21, 2011 5:12 by p.deleon
Even 61 years after he founded the company, Juma Al Majid continues to be the head of the company and Khalid Juma Al Majid is the vice chairman. Like most of the UAE’s family businesses, the Group’s early years was firmly rooted in trading. Now, it finds itself involved in a lot of commercial activity, including automotives (Hyundai, Kia, Isuzu), contracting, FMCG (Crunchos, Perrier, Gerber, Tang, Glade, Contrex), hotels (Taj Palace Hotel), investment, properties, trading (GE, Citizen, Minolta, Samsung, etc) and travel.
As of March this year, Zawya.com reports the company has approximately 12,000 employees. The site also estimates the company’s net worth into the undisclosed billions.