Category Archives: Business & Investments

Business & Investments

Mashreq’s Business Banking and NEO PAY Collaborate to launch PoS Lending Solution for Merchants across the UAE

Dubai, UAE; 17 February 2025: Mashreq, one of the leading financial institutions in the MENA region, has announced a collaboration between its business banking arm and NEO PAY, the UAE’s fast-growing digital payments leader, to launch its Point-of-Sale (PoS) lending solution, tailored for NEO PAY’s SME merchants in the UAE.

This initiative will pave way for merchants to meet both their payment processing requirements as well as their funding requirements from the NEO PAY platform. The launch of this lending solution is part of Mashreq’s commitment to supporting SMEs in their growth journey and to compete in today’s dynamic market.

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Business & Investments

RHEEM CELEBRATES 100 YEARS OF EXCELLENCE

As Rheem marks its 100th anniversary globally, and nearly 40 years of operation in the Middle East, the organization proudly reaffirms its dedication to innovation, strong partnerships and environmental sustainability.
 

Dubai, UAE, 17th February October 2024: Rheem, a leading global manufacturer in energy-efficient air conditioning and water heating solutions, proudly celebrates a century of excellence and growth. From its origins as a steel drum manufacturer founded by brothers Richard and Donald Rheem in 1925, the company has grown into a pioneering force in air and water comfort solutions, with a strong and expanding presence across the Middle East and Africa. This milestone reflects Rheem’s unwavering commitment to quality, innovation, and continued success.

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Business & Investments

Swisslog reports growth in the Middle East with project value topping $60M in recent weeks

Dubai, UAE, 17 Feb 2025 – Swisslog, the global leader in innovative robotic, data-driven, and flexible automated solutions, has reported remarkable growth in the Middle East market, achieving over $60 million in project value in recent weeks across various industries, including food and beverage (F&B), grocery, fashion retail, and spare parts handling.

Swisslog’s recent wins include major projects for leading businesses in the UAE and Saudi Arabia, focusing on warehouse management software (WMS), state-of-the-art pallet automation, automated small-volume goods solutions, and AutoStore systems, tailored to the needs of the region’s dynamic industries.

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Business & Investments

Union Coop Reports ‘2024’ Financial Performance

The retail pioneer announced a progressive financial performance for FY 2024, wherein the revenue reached AED 2,491 million, showing a 5% increase, while profit before tax rose by 18%, reinforcing its signature leadership and market dominance.

Dubai, UAE:
The leading Dubai-based retailer ‘Union Coop’ announced its financial results for the fiscal year ending December 31, 2024, showcasing ‘revenue surge’ and operational flexibility. The cooperative recorded a total revenue of AED 2,491 million, with AED 1,854 million from retail operations and AED 637 million from other activities, reflecting a 5% year-on-year increase. Profit before tax surged to AED 348 million, marking an 18% rise compared to AED 297 million in 2023. These strong financials reaffirm Union Coop’s strategic transformation journey, reinforcing its position for sustained growth and expansion, thereby re-affirming its position as the industry leader.

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Business & Investments

UAE Champions Gender Equality at She Investment Summit 2025 Hosted by Women Board of Directors (WBD)

Government Officials and Industry Leaders Highlight UAE’s Commitment to Bridging the Gender Gap and Enhancing Female Representation at C-Level and Corporate Boards

Dubai, UAE, 17 February 2025– The She Investment Summit, hosted by Dubai-based Women Board of Directors (WBD) in association with The Brain & Performance Centre – A DP World Company, convened top executives and government officials. The compelling conversations and key takeaways set a new benchmark for investing in women’s leadership and paved the way for stronger community building and networking.

Delivering the keynote address, H.E. Safeya Al Safi, Acting Assistant Undersecretary for the Commercial Control & Governance Sector, UAE Ministry of Economy, emphasized the UAE’s progressive journey in women’s empowerment. “As I stand here today, I am reminded of the profound journey our nation has undertaken since its founding on December 2, 1971 — from the very start, our wise leaders have recognized women as crucial partners in the UAE’s societal and economic progress,” she stated.

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