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<br /> Big Five Duty Free<br /> welcomes new CEO<br /> and shareholder<br /> Gebr. Heinemann<br /> on unlocking Africa's<br /> long-term potential<br /> MEADFA President<br /> Abdeslam Agzoul hails<br /> region's resilience<br /> PRINTED LOCALLY<br /> - ESTABLISHED 1997 -<br /> HELPING THE INDUSTRY GROW<br /> NOVEMBER/DECEMBER 2025<br /> DDF poised for<br /> another record-<br /> breaking year<br /> Pi Insight: WB&S<br /> conversion highest<br /> in the Middle East<br /> JTI targets fast-<br /> growing heated<br /> tobacco segment<br /> Thabet Musleh<br /> `Business is tough – use data wisely to emerge stronger'... p31<br /> ALSO INSIDE<br /> TRAVEL RETAIL AWARDS WINNERS | FORUM 2026 UPDATE | MEA PAX INSIGHTS<br /> OLIVA CIGARS | PMI GTR | BAT | AL FAKHER | SUNTORY GLOBAL SPIRITS | VINARCHY<br /> TRAVEL BLUE TALKS PROTECTING THE PLANET | AT WORK WITH DENZ VAN DER LIST<br /> YOU'VE ARRIVED.<br /> WELCOME<br /> Welcome<br /> MEA finds strengt<a title="TRBusiness November/December 2025 page 1" href="https://secure.viewer.zmags.com/publication/49b20a62?page=1"> Big Five Duty Free welcomes new CEO and sharehold</a> <a title="TRBusiness November/December 2025 page 2" href="https://secure.viewer.zmags.com/publication/49b20a62?page=2"> YOU'VE ARRIVED.</a> <a title="TRBusiness November/December 2025 page 3" href="https://secure.viewer.zmags.com/publication/49b20a62?page=3"> WELCOME Welcome MEA finds strength in numbers </a> <a title="TRBusiness November/December 2025 page 4" href="https://secure.viewer.zmags.com/publication/49b20a62?page=4"> Contents </a> <a title="TRBusiness November/December 2025 page 5" href="https://secure.viewer.zmags.com/publication/49b20a62?page=5"> Oliva Cannes party............ 78 PMI GTR..</a> <a title="TRBusiness November/December 2025 page 6" href="https://secure.viewer.zmags.com/publication/49b20a62?page=6"> NEWS ROUNDUP Avolta unveils major duty-free tr</a> <a title="TRBusiness November/December 2025 page 7" href="https://secure.viewer.zmags.com/publication/49b20a62?page=7"> NEWS ROUNDUP Big Five Duty Free appoints new CE</a> <a title="TRBusiness November/December 2025 page 8" href="https://secure.viewer.zmags.com/publication/49b20a62?page=8"> WINNING THE CONSUMER VOTE TRAVEL RETAIL AWARD</a> <a title="TRBusiness November/December 2025 page 9" href="https://secure.viewer.zmags.com/publication/49b20a62?page=9"> Shinsegae Duty Free launches exclusive Medicube p</a> <a title="TRBusiness November/December 2025 page 10" href="https://secure.viewer.zmags.com/publication/49b20a62?page=10"> NEWS ROUNDUP 3 channel exclusives... Spotlightin</a> <a title="TRBusiness November/December 2025 page 11" href="https://secure.viewer.zmags.com/publication/49b20a62?page=11"> NEWS ROUNDUP JFKIAT and Hudson debut stores at</a> <a title="TRBusiness November/December 2025 page 12" href="https://secure.viewer.zmags.com/publication/49b20a62?page=12"> THE BIG PICTURE 12 TRBUSINESS </a> <a title="TRBusiness November/December 2025 page 13" href="https://secure.viewer.zmags.com/publication/49b20a62?page=13"> Guerlain unveils dazzling Tale of Wonders Christm</a> <a title="TRBusiness November/December 2025 page 14" href="https://secure.viewer.zmags.com/publication/49b20a62?page=14"> Born in Austria, rolling around the wo</a> <a title="TRBusiness November/December 2025 page 15" href="https://secure.viewer.zmags.com/publication/49b20a62?page=15"> TRAVEL RETAIL AWARDS Crowning the winners of the </a> <a title="TRBusiness November/December 2025 page 16" href="https://secure.viewer.zmags.com/publication/49b20a62?page=16"> TRAVEL RETAIL AWARDS Trophy winners gather at th</a> <a title="TRBusiness November/December 2025 page 17" href="https://secure.viewer.zmags.com/publication/49b20a62?page=17"> TRAVEL RETAIL AWARDS And the winners are... Here</a> <a title="TRBusiness November/December 2025 page 18" href="https://secure.viewer.zmags.com/publication/49b20a62?page=18"> TRAVEL RETAIL AWARDS · The Untold Stories Chapte</a> <a title="TRBusiness November/December 2025 page 19" href="https://secure.viewer.zmags.com/publication/49b20a62?page=19"> TRAVEL RETAIL AWARDS Highly Recommended · IGNITE</a> <a title="TRBusiness November/December 2025 page 20" href="https://secure.viewer.zmags.com/publication/49b20a62?page=20"> TRAVEL RETAIL AWARDS · Bottega Rose Gold – Botte</a> <a title="TRBusiness November/December 2025 page 21" href="https://secure.viewer.zmags.com/publication/49b20a62?page=21"> TRAVEL RETAIL AWARDS Best Airport Retail Initiat</a> <a title="TRBusiness November/December 2025 page 22" href="https://secure.viewer.zmags.com/publication/49b20a62?page=22"> TRAVEL RETAIL AWARDS Travelling shoppers make t</a> <a title="TRBusiness November/December 2025 page 23" href="https://secure.viewer.zmags.com/publication/49b20a62?page=23"> TRAVEL RETAIL AWARDS </a> <a title="TRBusiness November/December 2025 page 24" href="https://secure.viewer.zmags.com/publication/49b20a62?page=24"> Hôtel Martinez, Cannes TUESDAY 30 SEPTEMBER, 2025</a> <a title="TRBusiness November/December 2025 page 25" href="https://secure.viewer.zmags.com/publication/49b20a62?page=25"> PLATINUM SPONSOR GOLD SPONSORS </a> <a title="TRBusiness November/December 2025 page 26" href="https://secure.viewer.zmags.com/publication/49b20a62?page=26"> A LEGACY UNCASKED EXCLUSIVE TO TRAVEL RETAIL</a> <a title="TRBusiness November/December 2025 page 27" href="https://secure.viewer.zmags.com/publication/49b20a62?page=27"> TR CONSUMER FORUM TR Consumer Forum 2026 set to</a> <a title="TRBusiness November/December 2025 page 28" href="https://secure.viewer.zmags.com/publication/49b20a62?page=28"> PROUDLY PRESENTS The T</a> <a title="TRBusiness November/December 2025 page 29" href="https://secure.viewer.zmags.com/publication/49b20a62?page=29"> </a> <a title="TRBusiness November/December 2025 page 30" href="https://secure.viewer.zmags.com/publication/49b20a62?page=30"> </a> <a title="TRBusiness November/December 2025 page 31" href="https://secure.viewer.zmags.com/publication/49b20a62?page=31"> COVER STORY: QDF Musleh: `Business is going to </a> <a title="TRBusiness November/December 2025 page 32" href="https://secure.viewer.zmags.com/publication/49b20a62?page=32"> COVER STORY: QDF Above: QDF's </a> <a title="TRBusiness November/December 2025 page 33" href="https://secure.viewer.zmags.com/publication/49b20a62?page=33"> COVER STORY: QDF during his keynote address at t</a> <a title="TRBusiness November/December 2025 page 34" href="https://secure.viewer.zmags.com/publication/49b20a62?page=34"> COVER STORY: QDF Above: The Ch</a> <a title="TRBusiness November/December 2025 page 35" href="https://secure.viewer.zmags.com/publication/49b20a62?page=35"> COVER STORY: QDF we're trying to do. AI has been</a> <a title="TRBusiness November/December 2025 page 36" href="https://secure.viewer.zmags.com/publication/49b20a62?page=36"> You know them. We know gifting.</a> <a title="TRBusiness November/December 2025 page 37" href="https://secure.viewer.zmags.com/publication/49b20a62?page=37"> MEA PAX MEA harnesses growth & connectivity as </a> <a title="TRBusiness November/December 2025 page 38" href="https://secure.viewer.zmags.com/publication/49b20a62?page=38"> MEA PAX Above: In boost in the r</a> <a title="TRBusiness November/December 2025 page 39" href="https://secure.viewer.zmags.com/publication/49b20a62?page=39"> MEA PAX Millennials an</a> <a title="TRBusiness November/December 2025 page 40" href="https://secure.viewer.zmags.com/publication/49b20a62?page=40"> L'O R I G I N A L E THE NEW EAU DE PARFUM </a> <a title="TRBusiness November/December 2025 page 41" href="https://secure.viewer.zmags.com/publication/49b20a62?page=41"> Available exclusively at Sephora and Moroccanoil.</a> <a title="TRBusiness November/December 2025 page 42" href="https://secure.viewer.zmags.com/publication/49b20a62?page=42"> </a> <a title="TRBusiness November/December 2025 page 43" href="https://secure.viewer.zmags.com/publication/49b20a62?page=43"> MEADFA 2025 “We are resilient – by numbers and </a> <a title="TRBusiness November/December 2025 page 44" href="https://secure.viewer.zmags.com/publication/49b20a62?page=44"> MEADFA 2025 President, at a dedicated MEADFA pre</a> <a title="TRBusiness November/December 2025 page 45" href="https://secure.viewer.zmags.com/publication/49b20a62?page=45"> MEADFA 2025 “For their neighbour, Saudi Arab</a> <a title="TRBusiness November/December 2025 page 46" href="https://secure.viewer.zmags.com/publication/49b20a62?page=46"> MEADFA 2025 Above and below: D</a> <a title="TRBusiness November/December 2025 page 47" href="https://secure.viewer.zmags.com/publication/49b20a62?page=47"> MEADFA 2025 problems the region is positive in t</a> <a title="TRBusiness November/December 2025 page 48" href="https://secure.viewer.zmags.com/publication/49b20a62?page=48"> </a> <a title="TRBusiness November/December 2025 page 49" href="https://secure.viewer.zmags.com/publication/49b20a62?page=49"> D ubai Duty Free </a> <a title="TRBusiness November/December 2025 page 50" href="https://secure.viewer.zmags.com/publication/49b20a62?page=50"> </a> <a title="TRBusiness November/December 2025 page 51" href="https://secure.viewer.zmags.com/publication/49b20a62?page=51"> </a> <a title="TRBusiness November/December 2025 page 52" href="https://secure.viewer.zmags.com/publication/49b20a62?page=52"> GEBR. HEINEMANN Take Afri</a> <a title="TRBusiness November/December 2025 page 53" href="https://secure.viewer.zmags.com/publication/49b20a62?page=53"> GEBR. HEINEMANN of the session. However, he did </a> <a title="TRBusiness November/December 2025 page 54" href="https://secure.viewer.zmags.com/publication/49b20a62?page=54"> GEBR. HEINEMANN “We are ready to invest in the </a> <a title="TRBusiness November/December 2025 page 55" href="https://secure.viewer.zmags.com/publication/49b20a62?page=55"> GEBR. HEINEMANN promotional and customer experie</a> <a title="TRBusiness November/December 2025 page 56" href="https://secure.viewer.zmags.com/publication/49b20a62?page=56"> GEBR. HEINEMANN “Many African passengers travel</a> <a title="TRBusiness November/December 2025 page 57" href="https://secure.viewer.zmags.com/publication/49b20a62?page=57"> GEBR. HEINEMANN  JEDDAH Heinemann JV uncloaks </a> <a title="TRBusiness November/December 2025 page 58" href="https://secure.viewer.zmags.com/publication/49b20a62?page=58"> GEBR. HEINEMANN  JEDDAH how best to make things</a> <a title="TRBusiness November/December 2025 page 59" href="https://secure.viewer.zmags.com/publication/49b20a62?page=59"> GEBR. HEINEMANN  JEDDAH three weeks. While </a> <a title="TRBusiness November/December 2025 page 60" href="https://secure.viewer.zmags.com/publication/49b20a62?page=60"> GEBR. HEINEMANN  JEDDAH </a> <a title="TRBusiness November/December 2025 page 61" href="https://secure.viewer.zmags.com/publication/49b20a62?page=61"> GEBR. HEINEMANN  JEDDAH prayer rugs, with fashi</a> <a title="TRBusiness November/December 2025 page 62" href="https://secure.viewer.zmags.com/publication/49b20a62?page=62"> Find your fresh match. Full of taste, </a> <a title="TRBusiness November/December 2025 page 63" href="https://secure.viewer.zmags.com/publication/49b20a62?page=63"> TOBACCO & NICOTINE ALTERNATIVES Smokeless produc</a> <a title="TRBusiness November/December 2025 page 64" href="https://secure.viewer.zmags.com/publication/49b20a62?page=64"> TOBACCO & NICOTINE ALTERNATIVES </a> <a title="TRBusiness November/December 2025 page 65" href="https://secure.viewer.zmags.com/publication/49b20a62?page=65"> TOBACCO & NICOTINE ALTERNATIVES and destinations</a> <a title="TRBusiness November/December 2025 page 66" href="https://secure.viewer.zmags.com/publication/49b20a62?page=66"> TOBACCO & NICOTINE ALTERNATIVES </a> <a title="TRBusiness November/December 2025 page 67" href="https://secure.viewer.zmags.com/publication/49b20a62?page=67"> Smoking kills</a> <a title="TRBusiness November/December 2025 page 68" href="https://secure.viewer.zmags.com/publication/49b20a62?page=68"> #1 WORLD'S SHISHA BRAND Smoking kills</a> <a title="TRBusiness November/December 2025 page 69" href="https://secure.viewer.zmags.com/publication/49b20a62?page=69"> TOBACCO & NICOTINE ALTERNATIVES also focusing on</a> <a title="TRBusiness November/December 2025 page 70" href="https://secure.viewer.zmags.com/publication/49b20a62?page=70"> 2026 Summit Americas MARCH 28-31 • ROSEN SHINGLE </a> <a title="TRBusiness November/December 2025 page 71" href="https://secure.viewer.zmags.com/publication/49b20a62?page=71"> TOBACCO & NICOTINE ALTERNATIVES At the same time</a> <a title="TRBusiness November/December 2025 page 72" href="https://secure.viewer.zmags.com/publication/49b20a62?page=72"> </a> <a title="TRBusiness November/December 2025 page 73" href="https://secure.viewer.zmags.com/publication/49b20a62?page=73"> TOBACCO & NICOTINE ALTERNATIVES competing with t</a> <a title="TRBusiness November/December 2025 page 74" href="https://secure.viewer.zmags.com/publication/49b20a62?page=74"> TOBACCO & NICOTINE ALTERNATIVES </a> <a title="TRBusiness November/December 2025 page 75" href="https://secure.viewer.zmags.com/publication/49b20a62?page=75"> NEW SENSATIONAL NEW WAY TO ENJOY T</a> <a title="TRBusiness November/December 2025 page 76" href="https://secure.viewer.zmags.com/publication/49b20a62?page=76"> TOBACCO & NICOTINE ALTERNATIVES </a> <a title="TRBusiness November/December 2025 page 77" href="https://secure.viewer.zmags.com/publication/49b20a62?page=77"> CIGARS How elevating staff training can help ga</a> <a title="TRBusiness November/December 2025 page 78" href="https://secure.viewer.zmags.com/publication/49b20a62?page=78"> CIGARS Above: are alre</a> <a title="TRBusiness November/December 2025 page 79" href="https://secure.viewer.zmags.com/publication/49b20a62?page=79"> Smoking seriously harms you and others around you</a> <a title="TRBusiness November/December 2025 page 80" href="https://secure.viewer.zmags.com/publication/49b20a62?page=80"> OLIVA CIGARS VCF's Riviera Sunset party at TFWA</a> <a title="TRBusiness November/December 2025 page 81" href="https://secure.viewer.zmags.com/publication/49b20a62?page=81"> OLIVA CIGARS SC</a> <a title="TRBusiness November/December 2025 page 82" href="https://secure.viewer.zmags.com/publication/49b20a62?page=82"> PMI GLOBAL TRAVEL RETAIL PMI GTR takes multi-c</a> <a title="TRBusiness November/December 2025 page 83" href="https://secure.viewer.zmags.com/publication/49b20a62?page=83"> PMI GLOBAL TRAVEL RETAIL to the next level, not </a> <a title="TRBusiness November/December 2025 page 84" href="https://secure.viewer.zmags.com/publication/49b20a62?page=84"> PMI GLOBAL TRAVEL RETAIL “A</a> <a title="TRBusiness November/December 2025 page 85" href="https://secure.viewer.zmags.com/publication/49b20a62?page=85"> PMI GLOBAL TRAVEL RETAIL to deliver on its purpo</a> <a title="TRBusiness November/December 2025 page 86" href="https://secure.viewer.zmags.com/publication/49b20a62?page=86"> PMI GLOBAL TRAVEL RETAIL Thes</a> <a title="TRBusiness November/December 2025 page 87" href="https://secure.viewer.zmags.com/publication/49b20a62?page=87"> PMI GLOBAL TRAVEL RETAIL journey will unlock AI'</a> <a title="TRBusiness November/December 2025 page 88" href="https://secure.viewer.zmags.com/publication/49b20a62?page=88"> BAT Elevated retail experiences key to building</a> <a title="TRBusiness November/December 2025 page 89" href="https://secure.viewer.zmags.com/publication/49b20a62?page=89"> BAT our smokeless brands responsibly across dive</a> <a title="TRBusiness November/December 2025 page 90" href="https://secure.viewer.zmags.com/publication/49b20a62?page=90"> BAT “There's a significant shift we are seeing t</a> <a title="TRBusiness November/December 2025 page 91" href="https://secure.viewer.zmags.com/publication/49b20a62?page=91"> BAT the demand for potentially reduced risk prod</a> <a title="TRBusiness November/December 2025 page 92" href="https://secure.viewer.zmags.com/publication/49b20a62?page=92"> AL FAKHER AIR advances its strategic </a> <a title="TRBusiness November/December 2025 page 93" href="https://secure.viewer.zmags.com/publication/49b20a62?page=93"> AL FAKHER We believe this unique flavour-driv</a> <a title="TRBusiness November/December 2025 page 94" href="https://secure.viewer.zmags.com/publication/49b20a62?page=94"> ON LOCATION: JTI JTI accelerates heated tobacco</a> <a title="TRBusiness November/December 2025 page 95" href="https://secure.viewer.zmags.com/publication/49b20a62?page=95"> ON LOCATION: JTI tasting experience and discover</a> <a title="TRBusiness November/December 2025 page 96" href="https://secure.viewer.zmags.com/publication/49b20a62?page=96"> ON LOCATION: JTI “The approval for the sale of</a> <a title="TRBusiness November/December 2025 page 97" href="https://secure.viewer.zmags.com/publication/49b20a62?page=97"> ON LOCATION: JTI Above L-R</a> <a title="TRBusiness November/December 2025 page 98" href="https://secure.viewer.zmags.com/publication/49b20a62?page=98"> ON LOCATION: JTI Above: </a> <a title="TRBusiness November/December 2025 page 99" href="https://secure.viewer.zmags.com/publication/49b20a62?page=99"> ON LOCATION: JTI of heated tobacco and combustib</a> <a title="TRBusiness November/December 2025 page 100" href="https://secure.viewer.zmags.com/publication/49b20a62?page=100"> Quality starts</a> <a title="TRBusiness November/December 2025 page 101" href="https://secure.viewer.zmags.com/publication/49b20a62?page=101"> WINE, BEER & SPIRITS REPORT Resilience and dive</a> <a title="TRBusiness November/December 2025 page 102" href="https://secure.viewer.zmags.com/publication/49b20a62?page=102"> WINE, BEER & SPIRITS REPORT Right: Dut</a> <a title="TRBusiness November/December 2025 page 103" href="https://secure.viewer.zmags.com/publication/49b20a62?page=103"> WINE, BEER & SPIRITS REPORT and sustainability m</a> <a title="TRBusiness November/December 2025 page 104" href="https://secure.viewer.zmags.com/publication/49b20a62?page=104"> N P S OF </a> <a title="TRBusiness November/December 2025 page 105" href="https://secure.viewer.zmags.com/publication/49b20a62?page=105"> WINE, BEER & SPIRITS REPORT Abov</a> <a title="TRBusiness November/December 2025 page 106" href="https://secure.viewer.zmags.com/publication/49b20a62?page=106"> WINE, BEER & SPIRITS REPORT Abo</a> <a title="TRBusiness November/December 2025 page 107" href="https://secure.viewer.zmags.com/publication/49b20a62?page=107"> </a> <a title="TRBusiness November/December 2025 page 108" href="https://secure.viewer.zmags.com/publication/49b20a62?page=108"> WINE, BEER & SPIRITS REPORT Ab</a> <a title="TRBusiness November/December 2025 page 109" href="https://secure.viewer.zmags.com/publication/49b20a62?page=109"> Drink Responsibly</a> <a title="TRBusiness November/December 2025 page 110" href="https://secure.viewer.zmags.com/publication/49b20a62?page=110"> WINE, BEER & SPIRITS REPORT Abov</a> <a title="TRBusiness November/December 2025 page 111" href="https://secure.viewer.zmags.com/publication/49b20a62?page=111"> </a> <a title="TRBusiness November/December 2025 page 112" href="https://secure.viewer.zmags.com/publication/49b20a62?page=112"> </a> <a title="TRBusiness November/December 2025 page 113" href="https://secure.viewer.zmags.com/publication/49b20a62?page=113"> WINE, BEER & SPIRITS REPORT Above</a> <a title="TRBusiness November/December 2025 page 114" href="https://secure.viewer.zmags.com/publication/49b20a62?page=114"> WINE, BEER & SPIRITS REPORT Above </a> <a title="TRBusiness November/December 2025 page 115" href="https://secure.viewer.zmags.com/publication/49b20a62?page=115"> WOOD. SMOKE. SPICE. MAKE SOMETHING NICE. </a> <a title="TRBusiness November/December 2025 page 116" href="https://secure.viewer.zmags.com/publication/49b20a62?page=116"> RÉMY COINTREAU GTR “If we all keep innovating,</a> <a title="TRBusiness November/December 2025 page 117" href="https://secure.viewer.zmags.com/publication/49b20a62?page=117"> RÉMY COINTREAU GTR terms of development and inve</a> <a title="TRBusiness November/December 2025 page 118" href="https://secure.viewer.zmags.com/publication/49b20a62?page=118"> RÉMY COINTREAU GTR “Traffic is doing well overa</a> <a title="TRBusiness November/December 2025 page 119" href="https://secure.viewer.zmags.com/publication/49b20a62?page=119"> RÉMY COINTREAU GTR That plays well for a lot of </a> <a title="TRBusiness November/December 2025 page 120" href="https://secure.viewer.zmags.com/publication/49b20a62?page=120"> SUNTORY GLOBAL SPIRITS How Suntory Global Spiri</a> <a title="TRBusiness November/December 2025 page 121" href="https://secure.viewer.zmags.com/publication/49b20a62?page=121"> SUNTORY GLOBAL SPIRITS “We already have these st</a> <a title="TRBusiness November/December 2025 page 122" href="https://secure.viewer.zmags.com/publication/49b20a62?page=122"> HERITA MARZOTTO WINE ESTATES Exclusivity and st</a> <a title="TRBusiness November/December 2025 page 123" href="https://secure.viewer.zmags.com/publication/49b20a62?page=123"> VINARCHY Vinarchy: “Consumers want a story, sen</a> <a title="TRBusiness November/December 2025 page 124" href="https://secure.viewer.zmags.com/publication/49b20a62?page=124"> WINNER BEST WINE PRODUCT CATEGORY </a> <a title="TRBusiness November/December 2025 page 125" href="https://secure.viewer.zmags.com/publication/49b20a62?page=125"> SILENT POOL Storytelling and provenance key to</a> <a title="TRBusiness November/December 2025 page 126" href="https://secure.viewer.zmags.com/publication/49b20a62?page=126"> IAN MACLEOD DISTILLERS IMD set on driving sale</a> <a title="TRBusiness November/December 2025 page 127" href="https://secure.viewer.zmags.com/publication/49b20a62?page=127"> OVER TO YOU: TRAVEL BLUE Tough decisions needed</a> <a title="TRBusiness November/December 2025 page 128" href="https://secure.viewer.zmags.com/publication/49b20a62?page=128"> BRANDS ZONE Supercharge your shelf appeal TRBusi</a> <a title="TRBusiness November/December 2025 page 129" href="https://secure.viewer.zmags.com/publication/49b20a62?page=129"> BITMORE Bitmore: “Travellers want products that</a> <a title="TRBusiness November/December 2025 page 130" href="https://secure.viewer.zmags.com/publication/49b20a62?page=130"> As 2025 draws to a close, TRBusiness would like t</a> <a title="TRBusiness November/December 2025 page 131" href="https://secure.viewer.zmags.com/publication/49b20a62?page=131"> WORK LIFE Spend a workday with... Denz van der Li</a> <a title="TRBusiness November/December 2025 page 132" href="https://secure.viewer.zmags.com/publication/49b20a62?page=132"> COMMENT Now and Then... Middle East retains dyn</a> <a title="TRBusiness November/December 2025 page 133" href="https://secure.viewer.zmags.com/publication/49b20a62?page=133"> </a> <a title="TRBusiness November/December 2025 page 134" href="https://secure.viewer.zmags.com/publication/49b20a62?page=134"> </a>