Category Archives: Business & Investments

Business & Investments

UAE’s Financial Wealth to Grow by 5.5% Annually, Reaching USD 1.3 Trillion by 2027

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UAE’s Financial Wealth to Grow by 5.5% Annually, Reaching USD 1.3 Trillion by 2027

  • In 2022, 25% of the UAE’s financial wealth came from Ultra High Net Worth individuals worth more than USD 100 million, and individuals with wealth between USD 1 million – USD 20 million held another 32%
  • A new BCG report projects that the UAE’s financial wealth will increase from USD 1 trillion in 2022 to USD 1.3 trillion in 2027
  • Equities & investment funds remain the largest asset class in the UAE, making up 58% of total onshore personal wealth in 2022, with bonds expected to have the fastest growth at an 8.4% CAGR between 2022 – 2027
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Business & Investments

Adyen has issued over two billion active network tokens

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Adyen has issued over two billion active network tokens, marking 2,200% growth in the technology since 2020

Research finds 41% of UAE businesses report an increase in fraud attempts last year. Network tokenization emerged as a key technology to increase authorization rates and reduce payment fraud.

Dubai, Unites Arab Emirates, 12 September 2023 – Adyen (AMS: ADYEN), the global financial technology platform of choice for leading enterprise businesses, has now issued over two billion active network tokens. This milestone shows that Adyen is paving the way for businesses to embrace the innovation of network tokenization which converts regular card numbers into secure non-sensitive tokens.

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Business & Investments

FedEx Introduces FedEx® Sustainability Insights to Support Customer Emissions Reporting

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FedEx Introduces FedEx® Sustainability Insights to Support Customer Emissions Reporting

New tool allows customers in the Middle East and North Africa to measure the carbon footprint of their shipments so they can improve transparency in their sustainability reporting

Dubai, UAE, Sep 12, 2023 – FedEx Corp. (NYSE: FDX) has launched a new tool, FedEx® Sustainability Insights (FSI), giving customers across Asia Pacific, Middle East, and Africa (AMEA) markets* access to emissions information on their shipments within the FedEx network. They can use the data to help make informed decisions on their future shipping strategy in order to reduce their impact on the planet.

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Business & Investments

Masafi picks Darwinbox to streamline HR functions across borders

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Masafi picks Darwinbox to streamline HR functions across borders

  • Darwinbox’s mobile-first HR platform allows Masafi to automate HR process using an Al-powered, new-age integrated and seamless platform

Dubai, UAE, September 12, 2023: Masafi, the UAE-headquartered consumer goods conglomerate, has selected Darwinbox, a global HR tech unicorn, to automate its HR function and enhance the employee experience using a new-age, AI-powered Human Capital Management (HCM) platform. The new implementation incorporates some of Darwinbox’s leading products and features like hiring, onboarding, payroll and performance management for Masafi’s 1,000+ cross-border workforce spread across UAE and Oman.

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Business & Investments

Amantra FM partners with AtmosAir to promote good Indoor Air Quality (IAQ) in Middle East

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Amantra FM partners with AtmosAir to promote good Indoor Air Quality (IAQ) in Middle East

Niche facilities management company Amantra FM has partnered with US-headquartered AtmosAir to help residential and commercial facilities across the Middle East achieve optimal indoor air quality (IAQ) using the sophisticated bi-polar ionization technology

L-R-Syed A. Rehman, SVP at Circulus, & Peter Kenney, CEO of Circulus & Sangeetha B, CEO of Amantra FM.

September 12th, Dubai, UAE: Amantra FM, a Dubai-based niche facilities management company, today announced a partnership with the US-headquartered AtmosAir, a global leader in solutions for healthier indoor air, and its authorized reseller Circulus, a managed office solutions company. The strategic partnership makes Amantra Middle East’s authorized distributor and promoter of AtmosAir’s bi-polar ionization technology, which boasts a pathogen reduction rate of up to 99% in indoor environments. 

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