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
Former flight attendant embarks on start-up journey
Canadian University Dubai (CUD) graduate, Fouzia Lkbiech, has traded a career in aviation for life as an entrepreneur, as she embarks on a journey to establish two new businesses in the UAE. Combining her passion for communication with her natural entrepreneurial spirit, Fouzia founded her own agency, Sponge Digital Marketing, last year. Building on the success of her business development strategies, Fouzia has also recently launched her longstanding passion project, a bridalwear and haute couture house, Fashion Atelier.
Canadian University Dubai (CUD) graduate, Fouzia Lkbiech
Moving to Dubai from Morocco at the age of 21, Fouzia started her professional journey as a flight attendant, taking the opportunity to travel the world and immerse herself in a multi-cultural environment. After three years in the aviation industry, she took the bold decision to embark on a new journey of self-discovery and enrolled in the Bachelor of Arts in Communication, Digital Media and Journalism program at CUD. Juggling her degree studies around caring for her young family, Fouzia ultimately graduated in the Class of 2020 with a 3.9 GPA.
RAK Hospital Webinar Unlocks the Power of Exercise in Diabetes Management
Exercise is akin to medicine in the treatment of diabetes. 30 minutes of exercise can reduce the risk of diabetes by 40%
Safety precautions and Exercise protocols for Diabetics were explained during the session
Session advised on being vigilant about the warning signs such as extreme fatigue, pain, dizziness, palpitations, fever, chest pain, or irregular heartbeat when performing exercises.
Wearing a diabetes identification bracelet is encouraged to ensure prompt medical attention in case of emergencies.
Emerge to Install Solar Project at American Community School of Abu Dhabi’s New Sustainable Campus
Emerge, a joint venture between Masdar and EDF, to install 1 MW peak capacity solar power project at non-profit American school in UAE
Project will generate approx 35% of American Community School’s annual energy, equivalent of displacing 770 tonnes of CO2 from the atmosphere
Abu Dhabi, United Arab Emirates; September 12, 2023: Emerge, a joint venture between the UAE’s Masdar and France’s EDF, has signed an agreement with American Community School of Abu Dhabi (ACS) to install a 1 megawatt peak (MWp) solar photovoltaic (PV) project at ACS’s new environmentally sustainable campus on Saadiyat Island, UAE. The project will generate approximately 35 percent of ACS’s total annual energy demand, an equivalent of displacing 770 tonnes of carbon emissions every year. The project fully aligns with the UAE sustainability goals and contributes to the country’s Net Zero by 2050 strategic initiative.
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.
UAE News 24/7 