Category Archives: Business & Investments

Business & Investments

Americana Restaurants Delivers $2.41 Billion Revenue in FY 2023, Reflecting Stability and Growth

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Americana Restaurants Delivers $2.41 Billion Revenue in        FY 2023, Reflecting Stability and Growth

  • Revenue for FY 2023 reached $2,413.1 million resulting in Adjusted EBITDA margin of 22.8%
  • Gross capex amounted to $167.9 million, supporting scale-up of brands
  • Americana Restaurants opened 300 gross new stores (252 net new stores) in line with its commitment to expansion

UAE, Abu Dhabi 15 February 2024: Americana Restaurants International PLC and its subsidiaries (“Americana Restaurants” or the “Company”) (ADX symbol: AMR/ ISIN: AEE01135A222) (Saudi Stock Exchange symbol: 6015), the largest out-of-home dining and quick service restaurant operator in the Middle East & North Africa (“MENA”) and Kazakhstan, today announced financial results for the twelve months ending December 31, 2023. Amid evolving market dynamics, the company demonstrated financial and operational resilience, positioning itself for continued growth.

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Business & Investments

World Governments Summit in partnership with Strategy& Middle East

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World Governments Summit in partnership with Strategy& Middle East: A new way to measure productivity highlights the GCC’s potential to boost GDP by $2.5 trillion over the next decade

  • Research also suggests GCC can accelerate GDP growth from 3.8% to 5.4% over the next decade

UAE, 14 February 2024: The World Governments Summit is launching a report entitled “In Search of Productivity: The Next $50 Trillion in the Global Economy” in partnership with Strategy& Middle East, part of the PwC network. The report introduces a new way of measuring productivity that includes dimensions critical for our age, such as environmental impact, health, innovation, and the quality of institutions. The report uses this new framework to estimate the potential upside to the GDP of Gulf Cooperation Council economies if they can improve on their weakest determinant of their productivity performance.

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Business & Investments

Navigating Talent Acquisition: Innovations Group Launches Advanced Candidate Search Portal

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Navigating Talent Acquisition: Innovations Group Launches Advanced Candidate Search Portal

  • The advanced Candidate Search Portal is designed to simplify and expedite the recruitment process for employers in the UAE.
  • This state-of-the-art platform offers a comprehensive database of over 1,00,000 skilled candidates, including both white and blue-collar professionals.

7th February 2024, Dubai, UAE: Innovations Group, UAE’s leading staffing and HR solutions provider, streamlines the recruitment process with the launch of its advanced Candidate Search Portal.  This state-of-the-art platform is designed to simplify and expedite the candidate search process for employers, aligning with Innovations’ commitment to leveraging technology to overcome recruitment challenges.

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Business & Investments

Axis Communications Introduces Stainless steel 8 MP dome for harsh environments

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Axis Communications Introduces Stainless steel 8 MP dome for harsh environments

Dubai, UAE, February 2024: Axis Communications introduced a marine-grade, stainless steel camera offering powerful performance in harsh environments. Certified for use in food processing facilities, it delivers excellent image quality and forensic details in brilliant 4K resolution.

Enclosed in an electropolished stainless steel (SS 316L) casing, AXIS P3268-SLVE can withstand the corrosive effects of seawater (DVN certified) and cleaning chemicals. Easy to clean and maintain, it’s certified by NSF/ANSI to Standard 169 (Special Purpose Food Equipment and Devices) for use in food processing facilities. It features Lightfinder 2.0 and Forensic WDR to deliver true colors and great detail in challenging light or near darkness. Additionally, OptimizedIR ensures sharp and clear footage in complete darkness up to 40 m (130 ft).

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Business & Investments

UAE Family Conglomerate Al Masaood Selects SAP to Digitally Transform Across Three Key Business Verticals

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UAE Family Conglomerate Al Masaood Selects SAP to Digitally Transform Across Three Key Business Verticals

  • Automotive, industrial, and property teams will all benefit from centralization, automation, AI enablement, and increased efficiency of latest innovations

 (From left): Executives from Al Masaood Group, Meiraj Hussain, Head of Corporate Support, and Rafid Azzawi, Group CFO, and, from SAP, Sergio Maccotta, Senior Vice President, Middle East Africa – South and Mohammed Hammad, Head of Mid-Market, UAE, attended the signing ceremony.

Abu Dhabi, UAE — 14 February 2024 — Al Masaood Group, one of Abu Dhabi’s largest integrated industrial, commercial, and service organisations with over five decades of growth across 18 market segments, is transforming into an intelligent enterprise through the deployment of cloud-based solutions from global technology company SAP SE (NYSE: SAP).

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