Zurich, 10 July 2024 – In 2023 wealth growth across the world has recovered from its 3% contraction the previous year. The contraction in 2022 was largely attributable to currency effects, i.e. a strong USD. However, the bounce back of 4.2% offset the loss from 2022, regardless of whether it is expressed in USD or local currencies, and was driven by growth in Europe, the Middle East and Africa (EMEA) at 4.8%, as well as Asia-Pacific (APAC) at 4.4%. Moreover, as inflation slowed, real growth exceeded nominal growth in 2023, resulting in inflation-adjusted global wealth growing by nearly 8.4%.
Continue reading Global Wealth Report 2024: Growth returns to 4.2% offsetting 2022 slumpCategory Archives: Business & Investments
Automechanika Dubai forms Advisory Board to drive forward the 2024 edition and future growth
Automechanika Dubai 2024 has unveiled the event’s inaugural Advisory Board, with a remit to shape the future of the event through expert insights and knowledge
A total of 18 industry professionals have been selected, covering all verticals and sectors from across the automotive industry
The exhibition will take place from 10-12 December at the Dubai World Trade Centre, showcasing more than 2,200 exhibitors and welcoming over 56,000 visitors
Dubai, UAE: Automechanika Dubai, the leading event for the automotive aftermarket industry, has officially unveiled the leaders supporting the event’s growth as part of the inaugural Advisory Board.
Continue reading Automechanika Dubai forms Advisory Board to drive forward the 2024 edition and future growthEpson’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 –
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.
Continue reading Epson’s High-performance Cushioning Material Wins the WorldStar Global Packaging Awards 2024 in the Electronics CategoryRAKBANK 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.
Continue reading RAKBANK to Transform AI Applications in Banking Operations supported by MicrosoftUAE 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%.
Continue reading UAE shows economic stability despite potential impact of Fed Rate decisions and upcoming U.S. elections
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