Daily Archives: July 26, 2023

Business & Investments

Emirati Human Resources Development Council (EHRDC) and talabat Partner

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Emirati Human Resources Development Council (EHRDC) and talabat Partner to Accelerate Emirati Workforce Growth in Strategic Sectors

Dubai, 25 July 2023 – The Emirati Human Resources Development Council (EHRDC) and talabat, the region’s leading platform for everyday deliveries, have signed a landmark Memorandum of Understanding (MoU) to empower and attract Emirati talent within the private sector, particularly in the tech industry.

The agreement was signed by Abdulaziz Harib Alfalahi, the Emiratization Recruitment Superintendent of the EHRDC, and Hanna Nordell, Chief People Officer at talabat.

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Business & Investments

KEZAD Embarks on AED 55 million Project for Infrastructure Upgrade

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KEZAD Embarks on AED 55 million Project for Infrastructure Upgrade over 40,000 sqmin KEZAD Musaffah(ICAD 1)

Repair and Recarpeting of 23kmof Roads, Widening of Junctions, Lighting Enhancements to Ensure Smoother Flow of Traffic

Abu Dhabi, UAE – 26 July 2023:Khalifa Economic Zones Abu Dhabi – KEZAD Group, the largest operator of integrated and purpose-built economic zones in the UAE, today announced that it has commenced the upgrade and revamp of the road network and facilities across 40,000 sqm in KEZAD Musaffah(ICAD 1).

The AED 55 million project includes repairs and recarpeting of 23km of roads within KEZAD Musaffah(ICAD 1), as well as widening of junctions, enhanced road markings and lighting, in additon tohard lanscaping and provison of bus stops.

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Business & Investments

Trakhees issued 428 new licenses in Special Development Areas during the 2nd quarter of 2023

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Date: 26, July 2023

Trakhees issued 428 new licenses in Special Development Areas during the 2nd quarter of 2023

The Planning and Development Department -Trakhees, the regulatory arm of the Ports, Customs, and Free Zone Corporation, achieved a significant growth rate of 52% in the number of new licenses issued during the second quarter of 2023 in the special development areas under the supervision of the institution.

Engineer Abdullah Mohammed Belhoul, the CEO of the Planning and Development Department – Trakhees, stated that the department aims to achieve positive results in commercial growth rates in the special development zones, in line with Dubai’s economic agenda. The goal is to create a business and investment-friendly climate to encourage companies to expand and grow, making Dubai the preferred destination for entrepreneurs and businesses.

Aerial view of The Palm Jumeirah Island, Dubai Downtown skyline, United Arab Emirates or UAE. Financial district and business area in smart urban city. Skyscraper and high-rise buildings at sunset.
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Beauty

THALES TO CREATE A WORLD-CLASS GLOBAL CYBERSECURITY LEADER

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THALES TO CREATE A WORLD-CLASS GLOBAL CYBERSECURITY LEADER, ACQUIRING US-BASED CYBER CHAMPION IMPERVA FROM THOMA BRAVO

United Arab Emirates – 26July 2023 – Thales (Euronext Paris: HO) announces today that it has reached an agreement with Thoma Bravo, a major software investment firm, for the acquisition of 100% of Imperva, a leading US-based data and application cybersecurity company, for an enterprise value of $3.6 billion1.

  • With this acquisition, Thales is taking its cybersecurity business to the next level. Imperva will enable growth in data security and Thales’ entry into the attractive application security market. Thales total cybersecurity business will generate more than € 2.4 billion revenues2.
  • The transaction price is based on a $3.6 billion enterprise value1.
  • Significant value creation for Thales shareholders:

    • $110 million of run rate cost and revenue synergies
    • Financial profile of DIS segment enhanced
    • Significant medium-term adjusted EPS accretion
    • Transaction adjusted ROCE3 above WACC in Year 5 post-closing
  • Imperva’s integration into Thales will significantly expand Thales’ addressable market in an already fast-growing sector.
  • The new financial targets set for Thales’ Digital Identity and Security (DIS) activity are:

    • 2024-2027 organic sales growth: +6 to +7%,
    • 2027 EBIT3 margin to reach 16.5%.
  • The acquisition is in line with Thales’ disciplined capital deployment framework, with no impact on the Group existing dividend policy or ongoing share buyback programme.
  • Closing of the transaction is expected by the beginning of 2024, upon completion of customary anti-trust and regulatory approvals.
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Technologies

Deloitte Digital and Salesforce Collaborate to Help Unleash the Power of Trusted AI for CRM

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Deloitte Digital and Salesforce Collaborate to Help Unleash the Power of Trusted AI for CRM

DUBAI, United Arab Emirates — July 26, 2023: Salesforce and Deloitte Digital announced a collaboration to provide businesses around the world with the accelerators and strategies they need to deploy trusted AI for CRM. Deloitte Digital will offer its AI services, industry experience, and deep knowledge of data protection regulations to help organizations implement and scale AI Cloud. Together, Salesforce and Deloitte Digital will help clients harness the power of AI for CRM to deliver tailored customer experiences, supercharge company productivity, and safeguard their data. 

Why it matters: Deploying AI for CRM requires trust and data security. 

  • New Salesforce research reveals that 73% of employees perceive generative AI as introducing new security risks, and almost 60% of those intending to use the technology lack knowledge regarding data security measures. 

Driving the news: In this collaboration, customers will have access to: 

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