Category Archives: Business & Investments

Business & Investments

Abu Dhabi Customs Wins 6 Gold Awards at the 2024 Harvard Business Council International Awards

Abu Dhabi Customs: July 2024

The General Administration of Abu Dhabi Customs has achieved notable success by winning six gold awards at the 2024 Harvard Business Council International Awards, based in New York City, USA, for its excellence in applying the best international practices and the highest standards of quality and institutional excellence.

A delegation from the awards organizer, headed by Dr. Ayman Taha, representative of Harvard Business Council International Awards in the Middle East and North Africa, presented the awards during their visit to the headquarters of Abu Dhabi Customs in Masdar City. The delegation was welcomed by Mr. Fahd Ghareeb Al Shamsi, Executive Director of the Support Services Sector at Abu Dhabi Customs, along with several department managers and employees.

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Business & Investments

 EWEC Issues Request for Proposals forthe Developmentof400MW Battery Energy Storage System

Battery capacity will supply operating reserves and additional system services, boosting system flexibility and enhancing network stability

Upon completion, the project will enable the accelerated deployment and utilisation of renewable energy across the UAE

Abu Dhabi, UAE – 25July2024:EWEC (Emirates Water and Electricity Company), a leading company in the integrated planning, purchasing and supply of water and electricity across the UAE,has issued a Request for Proposals (RFP) toqualified developers and developer consortiums that expressed interest in developing an independent greenfield 400-megawatt (MW) Battery Energy Storage System (BESS) power project in Abu Dhabi, providing up to 800 megawatt-hours (MWh) of storage capacity.

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Business & Investments

RAKBANK Collaborates with Wipro to Establish a Testing Center in Dubai to Accelerate Banking Innovation

DUBAI, United Arab Emirates, July25, 2024:RAKBANK, a prominent financial institution in the United Arab Emirates, today announced that it has collaborated with Wipro Limited, a leading technology services and consulting company, to establish a Testing Center of Excellence (TCoE) designed to accelerate innovation and enhance the quality and efficiency of the bank’s digital services.

Under this partnership, Wipro will leverage its extensive expertise in quality assurance and testing services to build and operate the TCoE. The Center will be equipped with advanced testing tools and methodologies, focusing on automation, performance testing that will enable RAKBANK to accelerate the launch of innovative banking solutions.

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Business & Investments

UAE fintech Aura partners with Reem Finance to improve SME cash flow through innovative credit products

·         The partnership allows Aura to leverage Reem Finance’s financial services infrastructure and license to provide invoice financing to UAE SMEs on a larger scale

22nd July 2024, Dubai, UAE: Aura, a fintech company dedicated to improving SME cash flow through innovative credit solutions, has signed a Memorandum of Understanding (MOU) with Reem Finance, a leading UAE-based financial institution to leverage the latter’s lending capabilities to expand Aura’s SME financing platform specifically within the UAE market.

The partnership is set to tackle the substantial credit gap facing SMEs in the UAE, in line with Aura’s goal of offering instant access to funds through invoice discounting. Aura’s solution is particularly vital in a market where over 50% of B2B transactions are conducted on trade credit, often with extended payment terms that hinder SME growth.

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Business & Investments

Transformative Technologies: How CEO Clubs Members are Shaping the Future

Dubai, July 23, 2024 – The CEO Clubs hosted an engaging and informative virtual meeting titled “Transforming Healthcare Device for Cancer with TransMed7” on July 23rd via Zoom. This event centered on unveiling groundbreaking investment opportunities in advanced biopsy medical devices designed for breast and prostate cancer.

The meeting commenced with a warm welcome from Ms. Sarah Dong, Managing Partner of CEO Clubs, who expressed deep appreciation for their valued member, Dr. William Wraith III, Co-Founder & Chairman Emeritus of Lyten, Inc. Dr. Wraith, a distinguished Silicon Valley entrepreneur and philanthropist, has a remarkable career spanning over four decades. His contributions to global resource management and transformative philanthropic endeavors were instrumental in enriching the meeting’s discussions. The meeting has gathered nearly 20 attendees including CEO Clubs valued members Dr. Aftab Hasan, Chairman, Risk Exchange (DIFC) Limited, Mr. NavoditMehra, Managing Partner & General Counsel, Confity Capital Partners, Mr. ShabbirRajaraliVakil, Chairman, Al Vakil Group.

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