Category Archives: Business & Investments

Business & Investments

Aurem’s Unified Wealth and Benefits Platform for Workplaces, Licensed in ADGM

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Aurem is a pioneering platform delivering workplace wealth and benefits technology regionally and globally

  • Their technology will be a key component of the End of Service Benefits reforms, a $100bn opportunity
  • The ADGM license will support their continued efforts to transform workplace savings and investing in the UAE

Aurem, the UAE’s first unified workplace wealth and benefits technology platform, announces its licensing by the Financial Services Regulatory Authority (FSRA) of Abu Dhabi Global Market (ADGM), marking a significant milestone in the company’s mission to connect the world for a better financial future. The company is spearheading a new emerging trend of offering long-term employee benefits and investment plans in the UAE, a $100 billion market opportunity.

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Business & Investments

Noatum Enters Egypt’s Maritime Market with the Acquisition of Safina Shipping Services

Acquisition of controlling stake in the company to expand Noatum Maritime’s presence in the Middle East region

Madrid, Spain/Cairo, Egypt – 16 August 2024: Noatum, an AD Ports Group company (ADX: ADPORTS), announced the acquisition of a majority stake in Safina B.V., a leading provider of maritime agency and cargo services in Egypt and across the Middle East region. The deal is expected to close in Q3 2024.

The acquisition by Noatum Maritime marks a significant milestone in its strategic growth as it leverages Safina’s expertise, capacity and reputation in Egypt’s maritime agency market.

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Business & Investments

Global Industry Leaders Eager to Share Insights at the New Global Sport Conference in Riyadh

  • “The New Global Sport Conference in Riyadh provides a convergence of innovation, passion, collaboration, and excellence” – Joe Marsh, CEO, T1 Entertainment & Sports.
  • “The esports and gaming world has so much potential for good, and it’s an experience, an audience, a community, and that’s what captivates and unites fans worldwide” – Maya Rogers, CEO, Tetris.
  • “We are seeing more companies recognize the importance of MENA and implement a localized strategy to succeed in the region” – Lisa Cosmas Hanson, CEO, Niko Partners

Riyadh, Saudi Arabia – August 16, 2024 — In less than two weeks, the New Global Sport Conference 2024 (NGSC), themed ‘The Future of Fandom’ will host more than 60 global speakers and over 750 global delegates from leading industries such as gaming, esports, technology, sports, entertainment, business and investment, and many more on August 24-25 in Riyadh, Saudi Arabia.

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Business & Investments

Cautious Market Outlook for The Year-end:Forex.com

How Rising Geopolitical Tensions & the Unwinding Yen Carry Trade Are Impacting UAE Equities & CBUAE Decisions

Dubai, 19 August 2024- After the yen carry trade triggered a spike in the VIX index, global equities, including those in the UAE, rebounded significantly. This recovery came in line with the positive expectations of a 25 basis points rate cut by the Federal Reserve in September.

Recent U.S. inflation data shows a slight uptick in the core Consumer Price Index (CPI) month-over-month from 0.1% to 0.2%, with the overall monthly CPI also increasing from -0.1% to 0.2%. This rise, driven by higher services inflation, suggests a 25-bps rate cut is more likely in September than a 50-bps cut. Meanwhile, the annual CPI decreased from 3% to 2.9%, revisiting 2021 levels. These developments have strengthened expectations for a rate cut by both the Fed and the Central Bank of the UAE (CBUAE).

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Business & Investments

American Express Middle East enhances the American Express® Platinum Credit Card in the United Arab Emirates with new benefits marking its 10th year anniversary

Dubai, United Arab Emirates – 19 August 2024: Celebrating a decade of The American Express Platinum Credit Card in the United Arab Emirates (UAE), American Express Middle East unveils additional and expanded benefits. Both new and existing American Express Platinum Credit Card Members in the UAE can enjoy an extensive range of new dining, travel, and everyday life benefits.

The new Platinum Credit Card benefits include:

  • 10% cashback on dining spend locally and abroad (up to 50 AED back monthly) making dining out even more rewarding.
  • AED 75 back monthly on grocery spend.
  • Enhanced access to more than 1400 airport lounges worldwide (up to12  visits each year per Card Member and 8 visits each year for 1 Supplementary Card Member, including accompanying guests), making shared travel experiences even more enjoyable.
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