Category Archives: Business & Investments

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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Business & Investments

New ground improvement technology available in the UAE

Geobear brings its ground improvement technology to the UAE

  • The UAE’s construction market, projected to grow from USD 41 billion in 2024 to over USD 50 billion by 2029
  • Geobear’s technology reduces carbon emissions by up to 70% compared to conventional ground engineering techniques
  • Geobear is set to play a crucial role in UAE’s landmark projects, including the AED 18 billion ‘Blue Line’ Metro in Dubai

United Arab Emirates, 25/7/2024 – Geobear, the global pioneer in ground improvement technology, has begun operations in the UAE. With over 40 years of experience in ground improvement solutions, Geobear brings its non-invasive technology to address the growing needs of UAE’s booming construction sector.

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Business & Investments

Majid Al Futtaim Retail Extends Retail Graduate Programme to Empower Young Talent Across Eight Countries

  • For the second year in a row, Majid Al Futtaim Retail is rolling out the 18-month programme towelcome graduates from different universities acrosseight countries.
  • Last year, the programme welcomed 71 candidates from six markets. This year, the programme will be expanded to invite more candidates across eightcountries, with women constituting 50 percent of the enrolled students.
  • The UAE is one of the keycountries where the programme showed great success. The continuation in the UAE aims to nurture young talent and develop future leaders in the retail industry.

Dubai, UAE,25July2024:Majid Al Futtaim Retail, which owns the exclusive rights to operate Carrefour in the UAE, has officially launched the second edition of its Retail Graduate Programme, welcoming applications until August 2024with the expectation to onboard candidates in October 2024.Building on the success of the inaugural edition, which welcomed 71 candidates from six countries, the programme expands its reach this year to empower more candidates from eightcountries. These countries include Lebanon, Qatar, and Saudi Arabia, in addition to the existing countries of Egypt, Georgia, Kenya, Pakistan, and the United Arab Emirates.

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