Category Archives: Business & Investments

Business & Investments

MERED wins ‘Project of the Year with Best Architecture’ at the Pillars of Real Estate Awards 2024

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MERED wins ‘Project of the Year with Best Architecture’ at the Pillars of Real Estate Awards 2024

Dubai, United Arab Emirates, 28th February 2024 – MERED, an award-winning international real estate developer, known for its flagship project – ICONIC Tower in Dubai Internet City has today announced its win for the Project of the Year with Best Architecture at the Pillars of Real Estate Awards. The flagship tower is developed in collaboration with globally renowned architectural powerhouse Pininfarina, known as the global standard-bearer of architecture and Italian design aesthetics, and is esteemed for creating timeless designs that embody the essence of technology and beauty.

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Business & Investments

Emirates NBD joins forces with DIFC Innovation Hub and Hale Education Group

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Emirates NBD joins forces with DIFC Innovation Hub and Hale Education Group to support InnovAIte Hackathon organised by High School students

Dubai, UAE, 28 February 2024: Emirates NBD, a leading banking group in the MENAT (Middle East, North Africa and Türkiye) region, has announced their support of InnovAIte Hackathon, the first national AI Hackathon run by students for students in the UAE. The initiative, created by four high school students from Dubai College in collaboration with the National Program for Coders, will be held across three days (1-3 March) and is backed by Emirates NBD, DIFC Innovation Hub and Hale Education Group.

Emirates NBD has consistently championed innovation, with a focus on nurturing promising talent and creating opportunities for them to thrive. The bank’s long-standing collaboration with like-minded partners reflects its commitment to fostering creativity and developing innovative solutions to practical challenges. This partnership aligns seamlessly with Emirates NBD’s overarching mission to support the community and actively contribute to shaping a future that empowers young people.

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Business & Investments

Aafaq Islamic Finance Launches 3 Cutting-Edge Digital Branches Across the UAE

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Aafaq Islamic Finance Launches 3 Cutting-Edge Digital Branches Across the UAE

Dubai, United Arab Emirates, 29th February 2024: Aafaq Islamic Finance, a leading provider of Shariah-compliant financial products and services, today announced the opening of three new digital branches in Dubai, Sharjah, and Fujairah as part of its expansion strategy in the United Arab Emirates, providing financial products and services in compliance with the provisions of Islamic Sharia.

Prospective customers are afforded a seamless onboarding experience, with the opportunity to apply for products and initiate their usage instantaneously. A notable feature is the ability to apply for a credit card, wherein approved customers can not only print but also activate their cards on the spot, facilitating immediate usage.

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Business & Investments

Mr. Arjun Dhanak of Kanz Jewels Clinches Youngest MD Award at The Retail Jeweller Dubai Forum

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Mr. Arjun Dhanak of Kanz Jewels Clinches Youngest MD Award at The Retail Jeweller Dubai Forum

Dubai, February 27, 2024 – The prestigious 5th edition of The Retail Jeweller Dubai Forum, themed “Next-Gen Retail,” unfolded today at The Hyatt Regency, Deira, Dubai, marking a significant milestone in the evolution of the retail jewellery industry in the GCC region. Among the highlights of the event was the recognition of Mr. Arjun Dhanak, the dynamic leader of Kanz Jewels, who was honored with the Youngest Managing Director Award.

The forum convened eminent experts, stakeholders, and top jewellers from across the Middle East and beyond, fostering a platform for intense brainstorming and groundbreaking exchange of ideas on the future trajectory of the retail jewellery industry. Key discussions centered around emerging business trends, imperative retail transformations, and the pivotal role of technology in shaping the Next-Gen jewellery retail business landscape in the GCC region.

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Business & Investments

Rapid Growth Expected for Digital Cross-Border Transfers in the Middle East

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Rapid Growth Expected for Digital Cross-Border Transfers in the Middle East

The annual report reveals a shift in the remittance sector with a growth spur, particularly in Saudi Arabia and the UAE

UAE – February 27, 2024: Prepay Nation, a global B2B marketplace for prepaid products has revealed in its first white paper ‘The Evolution of Cross-Border Transfers’ The document highlights a notable surge in demand for cross-border transfers within the Middle East, with a distinct focus on sophisticated and productized remittances.

According to recent data, the global digital cross-border transfers market is valued at $148.08 billion at the start of 2023, and is expected to grow at a CAGR of 12.58% to reach $339.87 billion by 2030. Increased mobile phone usage, online shopping and the need for convenient, fast, and secure money transfer services are the primary drivers of this trend. UAE and Saudi Arabia are two of the largest remittance hubs in the region that sent an astounding $39.6BN and $39.3BN respectively in 2022, amounting to about 7% of the GDP of the two countries.

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