Category Archives: Business & Investments

Business & Investments

Epson’s High-performance Cushioning Material Wins the WorldStar Global Packaging Awards 2024 in the Electronics Category

Epson’s High-performance Cushioning Material Wins the WorldStar Global Packaging Awards 2024 in the Electronics Category

– The third award alongside the JapanStar Award and AsiaStar Award –

Award Recipients
Paper cushioning material manufactured using Dry Fiber Technology

                           

DUBAI, United Arab Emirates, July 10, 2024 – Seiko Epson Corporation (TSE: 6724, “Epson”) announced that its high-performance cushioning material made from used copier paper has won a WorldStar Global Packaging Awards 2024 in the Electronics category. This is the second time that Epson has received a WorldStar Award, the first being in 2007 for ink packaging for large-format inkjet printers. The award ceremony was held in Bangkok, Thailand on June 15, 2024.

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Business & Investments

RAKBANK to Transform AI Applications in Banking Operations supported by Microsoft

Dubai, United Arab Emirates, July 10, 2024 – RAKBANK and Microsoft, as part of their ongoing collaboration, will be leveraging the power of artificial intelligence (AI) to transform various facets of operations at the bank. The intent was formalized through a memorandum of understanding (MoU) signed by Raheel Ahmed, Group CEO of RAKBANK, and Naim Yazbeck, General Manager of Microsoft UAE, at the RAKBANK Corporate office in Dubai today.

The collaboration will focus on redefining compliance, anti-money laundering and combatting the financing of terrorism (AML/CTF), and fraud detection; customer interactions; Customer Fulfillment and marketing initiatives at RAKBANK. This will be achieved through utilizing the advanced capabilities of GPT-4o, the multimodal large language model (LLM) from OpenAI, and JAIS, the world’s most advanced Arabic LLM from G42, running on Microsoft’s trusted cloud.

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Business & Investments

UAE shows economic stability despite potential impact of Fed Rate decisions and upcoming U.S. elections

Dubai, 10 July 2024 – Despite an air of uncertainty stemming from the US Presidential Elections and recent U.S. economic indicators demonstrating a decline in leading economic activity metrics, the UAE economy has been holding up with the latest CPI year-over-year figure decreasing from a six-month high of 3.91% to 3.81% at the second half of the year. Meanwhile, the U.S. CPI year-over-year has fallen from 3.4% to 3.3%.

Expecting a sluggish growth of commodity prices, wages, rents, as well as the increase of the UAE Dirham due to a strong US Dollar that could consequently moderate levels of inflation further, the CBUAE’s June 2024 outlook revised the 2024 inflation forecast down from 2.5% to 2.3%.

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Business & Investments

Mastercard and Global Hotel Alliance Sign Multimarket Agreement to Boost Luxury Travel  

  • Set to launch a co-branded card, the partnership will cater to the unique needs of affluent cardholders – from planning trips to seamless accommodation arrangements

Dubai, UAE; 09 July 2024: Mastercard, and Global Hotel Alliance (GHA), one of the world’s largest alliance of independent hotel brands, have signed a multimarket agreement to introduce a co-branded card, designed to boost the travel and hospitality experience for discerning travelers. The collaboration will be tailored to the unique needs of affluent cardholders – offering a vast choice of accommodation arrangements and exciting rewards.

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