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Category: Commerce

  • Recent Rains Highlight The Urgent Need For Comprehensive Car Insurance In The UAE

    Recent Rains Highlight The Urgent Need For Comprehensive Car Insurance In The UAE

    Recent Rains Highlight The Urgent Need For Comprehensive Car Insurance In The UAE

    Anticipated Surge in Motor Insurance Premiums as Insurers Navigate Financial Challenges

    DUBAI(Press Release)::  Recent weather patterns in the UAE have underscored a critical gap in many car insurance policies, leaving drivers vulnerable to unforeseen risks and significant financial losses. Policybazaar.ae, a leading insurance marketplace in the UAE, requests residents to safeguard themselves with the right insurance policy.

    While it may take time for insurers to assess the full situation, such events underscore the urgent need for car owners to reassess their insurance coverage and ensure they are adequately protected against water damage from increasing frequency of rains and localised floods – the need for comprehensive car insurance has never been more urgent. While third-party liability insurance may seem cost-effective, it offers little to no protection against the very real threats posed by water damage.

    According to Neeraj Gupta, CEO, Policybazaar.ae, “As a responsible insurance marketplace, we urge all UAE residents to prioritise their safety and financial security by investing in the right and comprehensive car insurance. Don’t wait until an event such as this to happen – we request car owners  to ensure they are adequately protected against unforeseen challenges.”

    Gupta added that comprehensive car insurance acts as a vital financial shield against a wide range of perils, including water damage caused by heavy rain, floods, or burst water pipes. In today’s climate, where extreme weather events are becoming increasingly common, comprehensive coverage is not just a luxury but a necessity.Unlike third-party liability insurance, comprehensive policies offer coverage for natural disasters such as hailstorm damage or damage caused by falling objects during a storm. This comprehensive coverage provides peace of mind in the face of unpredictable weather events.

    Furthermore, following recent data, the company has requested drivers not to let expired policies leave them stranded. Expired car insurance leaves individuals completely vulnerable in the event of an accident or damage, emphasising the importance of maintaining up-to-date coverage.

  • Bloom Holding Launches ‘Olvera’ – The 6th Phase of Bloom Living

    Bloom Holding Launches ‘Olvera’ – The 6th Phase of Bloom Living

    Bloom Holding Launches ‘Olvera’ –

    The Sixth Phase of Bloom Living

    OLVERA scheduled to be completed in Q3 2027

    Abu Dhabi (Arshad Ch)::Bloom Holding, one of the UAE’s foremost real estate development companies, has announced the launch of ‘Olvera’, the sixth phase of Bloom Living, its fully integrated and all-inclusive community in Abu Dhabi.
    Named after the ancient Spanish city, Olvera offers premium 2&3-bedroom townhouses scheduled to be completed in Q3 2027. Prices start from AED 1.8 million with attractive post-handover payment plans.
    Inspired by the Mediterranean architecture, units at Olvera are thoughtfully designed to welcome spacious indoor-outdoor living with open floor plans, carefully planned kitchens, elegant and modern finishings, as well as access to top-class amenities, providing residents with an exceptional community living experience.
    All villas and townhouses in Bloom Living’s previously launched phases have been successfully sold out, reflecting the strength of the project’s proposition as a premium community living destination that caters to the evolving needs of residents.
    Bloom Holding, Chief Executive Officer Carlos Wakim said: “At Bloom Holding, we pay great attention to details and prioritize excellence, which is why so many people continue to invest in our communities. We are deeply committed to continuously delivering property that meets the demands of the market and creating homes in adherence with the highest standards of quality.
    “We are confident that the high demand received from investors and end users is a direct result of the uniqueness of Bloom Living, a fully integrated community that offers a great lifestyle with long-term value. This overwhelming response is a testament to the market confidence in Bloom Holding’s developments, and the growing need for premium properties.
    “With many successful launches behind us, we believe that the launch of Olvera aligns with our vision to offer residents perfectly designed homes with modern and elegant finishings surrounded by lush greenery and top-class amenities, all within an all-inclusive, vibrant community in a prime location.” He added.
    Those living within Olvera can benefit from a wide range of facilities available at Bloom Living, just within a short walking distance. Residents can explore the beauty of nature at Bloom Living’s multiple uninterrupted, interconnected parks, and they can also enjoy their time at the community’s main Clubhouse which provides easy access to pools, sports, and recreational facilities.
    Additionally, at the heart of Bloom Living lies a Town Center, a vibrant community destination that offers an array of exquisite restaurants and cafés available for both residents and visitors, as well as a variety of retail options and services such as a medical clinic, a wellness center and a supermarket, to ensure that residents can obtain all their daily necessities without the need to leave Bloom Living.
    The focal point at Bloom Living will be a large lake around which residents can walk, run, and cycle on designated trails. For gatherings and leisure activities, the community features multi-purpose amphitheaters and Sunset and Sunrise Plazas with spectacular views. Moreover, Bloom Living comprises places of worship and two outstanding international schools.
    Bloom Living features a selection of villas, townhouses, and apartments, to suit the unique needs of residents of all generations. The highly convenient gated community is located within Zayed City and close to Zayed International Airport. Bloom Living has been designated as an investment zone allowing buyers of all nationalities to purchase residential units in the development.

  • Danube Properties launches Dh. 2.4 Billion project in JLT – Diamondz

    Danube Properties launches Dh. 2.4 Billion project in JLT – Diamondz

     Danube Properties launches Dh. 2.4 Billion project in JLT – Diamondz

    • Diamondz – a luxurious project in JLT successfully marked a pioneering moment recently as it became the first venue in the Middle East to feature a gym equipped with superstar Salman Khan’s Being Strong Fitness Equipment

    • Fastest-growing developer Danube Properties brings another jewel in its crown – the 65-storeyed Diamondz – which comes with 40 plus amenities and its trend-setting 1 percent monthly payment plan

     Dubai(News Desk):: Danube Properties, the fastest-growing private real estate developer in the United Arab Emirates (UAE), becomes the first to launch a gym with Salman Khan’s ‘Being Strong Fitness Equipment’ range. Situated within its iconic 65-storeyed skyscraper named Diamondz at Jumeirah Lake Towers in Dubai, UAE; the most awaited project will boast a total development value of Dh 2.4 billion along with a gym that is set to revolutionise the fitness experience for customers keen to enjoy a healthy lifestyle by following a quality fitness regime.

    Salman Khan’s Being Strong Fitness Equipment is meticulously designed, and this one-of-its-kind Danube gym is a part of Diamondz – the latest project by Danube Properties. The launch of Being Strong Equipment at Diamondz was attended by Salman Khan as the Chief Guest alongside other key dignitaries from the UAE.

     

    Commenting on the remarkable launch, Rizwan Sajan, Founder and Chairman, Danube Group shared, “With every project, we challenge ourselves to increase the facilities and amenities so that the home buyers get a better value for every square foot, or every penny spent – be it the introduction of a doctor/ nanny on call or extra space for work from home to maintain perfect work-life balance. Keeping in mind the need of the hour for maintaining a healthy lifestyle and workout with a correct set of equipment, we are delighted to have associated with Salman Khan’s Being Strong Equipment for its first-ever gym in our most luxurious project-Diamondz.”

    Bollywood star Salman Khan who enjoys a fan following of billions globally added, “I am personally very happy to launch the first gym in Dubai with Being Strong equipment at the Diamondz by Danube project. This explains the importance of quality workout and a healthy lifestyle. Our state-of-the-art range of equipment will bring out the importance of quality and modern fitness in the fast-moving life of Dubai.”

    Workouts and a healthy lifestyle are becoming integral parts of everyone’s life. Hence, real estate developers must consider this aspect in addition to the other facilities they provide. Danube Properties is the first to realise this and is moving forward by associating with Being Strong. Danube Properties understands that being healthy is essential. This isn’t just another gym that many developers provide as it offers top-of-the-class gym equipment and facilities for the residents.

    Diamondz is Danube Properties’ 15th project launched in the last 24 months – reinforcing the developer’s reputation as the fastest-growing real estate leader in the region. Danube Properties maintains a policy of launching one project at a time, selling out, put it under tendering and construction, before launching the next project. This helps the developer to focus on all aspects of the development cycle – launch, sell-out, collect down-payment, appoint a contractor, and deliver on time to happy customers.

    “This policy has helped us to focus on the development of each project and ensure timely delivery of each project – so that the customers remain happy,” Rizwan Sajan said. “With our 1 percent payment plan, home buyers usually receive the keys after paying around 60 percent of the project and keep on paying the balance 40 percent in 40 monthly instalments – making home acquisition less painful – and increasing Return on Investment.

    Owing to this policy, Danube Properties is known for the timely delivery of their projects. Currently, Opalz by Danube is at the handover stage, and Pearlz, Gemz, and Petalz, projects are running ahead of schedule by 8 months, 6 months, and 5 months respectively.

      Apartments in Diamondz starting at Dh 1.1 million will be fully furnished and will come with more than 40+ facilities and amenities that offer a great lifestyle in addition to health and lifestyle amenities including a health club, swimming pools, jogging track, sports arena, working space, business centre, meeting place, tennis court, barbecue area, jogging track, doctors on call including a gym with Being Strong fitness equipment by Salman Khan exclusively for residents which otherwise is a paid for facility.

    Earlier this year, Danube Properties launched Bayz101, the tallest tower under the portfolio. And are back with Diamondz within just three months. The launch of Diamondz comes a few weeks after the sell-out of Bayz101 within two months of its launch. This reflects the vibrancy of Dubai’s real estate market where demand continues to outpace supply, encouraging us to launch projects in quick succession. Danube Properties offers homeowners a 10-year Golden Visa – especially those who qualify as per the investment criteria – subject to government approval.

    Moreover, this association with Being Strong marks a significant step. There’s nothing short of perfection than partnering with Being Strong, a leading gym equipment provider. Hence, the launch of Salman Khan’s Being Strong fitness range at Danube Properties’ Diamondz project marks a significant milestone in the evolution of fitness amenities within luxury real estate developments.(Ends)

  • UAE and Kenya sign Investment Memorandum

    UAE and Kenya sign Investment Memorandum

    UAE and Kenya sign Investment Memorandum to advance digital infrastructure and AI initiatives

    His Excellency Mohamed Hassan Alsuwaidi: “This memorandum is set to accelerate the development of a sector that has the potential to become a growth driver for other industries”

    Abu Dhabi(News Desk):: The Ministry of Investment of the UAE and the Ministry of Information, Communications and the Digital Economy of the Republic of Kenya have signed an Investment Memorandum establishing a framework for investment cooperation in the field of digitalization and technology.In addition to exploring investments in digital infrastructure and artificial intelligence (AI) services in Kenya, the cooperation may include the development of data centre projects with a total capacity of up to 1,000 megawatts. In the field of AI, the technical and investment potential of developing Large Language Models will be assessed.

    The Investment Memorandum was signed by His Excellency Mohamed Hassan Alsuwaidi, Minister of Investment of the UAE, and His Excellency Eliud Owalo, Cabinet Secretary at the Ministry of Information, Communications and the Digital Economy in Kenya.

    Kenya has witnessed significant growth in its digital economy, primarily driven by the ICT sector, which has outperformed all other sectors, expanding by 23 percent annually during the last decade. As the largest economy in East Africa, Kenya is also becoming a preferred investment destination for data centre providers, with the growing demand for cloud services prompted by improved business conditions and new market entrants, as well as the migration of many businesses to digital solutions. There are currently several operational data centres in the country, and the local data centre market is expected to witness a compound annual growth rate of 11.22 percent between 2023 and 2028.

    The Memorandum focuses on facilitating strong and effective relationships between public and private sector organisations in the two countries to enable cooperation in digital infrastructure projects. It additionally proposes the implementation of incentives to support pertinent initiatives.

    The “digital corridor” concept is integral to this Memorandum, representing an interconnected network infrastructure enabling secure data exchange, hosting, processing, and transmission between the UAE and Kenya.

    His Excellency Mohamed Hassan Alsuwaidi, Minister of Investment of the UAE, said: “A closer partnership between our two nations harbours remarkable opportunities in numerous fields that can contribute to the continued strengthening and advancement of our economies. Through targeted investments in digital infrastructure and artificial intelligence, this Investment Memorandum is set to accelerate the development of a sector that has the potential to become a growth driver for other industries, setting out a vision for the future defined by prosperity and progress.”

    His Excellency Eliud Owalo, said: “Collaboration between Kenya and the UAE goes beyond strategy; it is poised to strengthen the bonds between our two nations. With the potential to bridge the digital divide in Africa, expedite technological innovation, and foster a sustainable future for the ICT industry, this partnership will pave the way for a more inclusive and interconnected digital world.”

    The Memorandum was signed on the heels of the UAE and Kenya finalising a Comprehensive Economic Partnership Agreement (CEPA), marking a milestone as the first CEPA between the two countries, deepening investment ties and boosting bilateral non-oil trade, which reached USD 3.1 billion in 2023, up 26.4 percent on 2022.( END)

  • Bloom Holding Begins Construction Work at Phase Three of Bloom Living, Casares

    Bloom Holding Begins Construction Work at Phase Three of Bloom Living, Casares

    Bloom Holding Begins Construction Work at Phase Three of Bloom Living, Casares

    Abu Dhabi (News Desk)::Bloom Holding, one of the UAE’s foremost real estate development companies, has announced the appointment of Emirates Link Maltauro L.L.C.as the main contractor to carry out the construction work for Casares, phase three of BloomLiving, its fully integrated and all-inclusive residential community in Abu Dhabi.
    Casares comprises of units that range from two-and three-bedroom townhouses which are scheduled for completion in Q1 2026.This announcement follows the recent launch of the fifth phase of Bloom Living, Seville, earlier this year. Additionally, works at Bloom Living’s first two sold-out phases, Cordoba and
    Toledo, are progressing steadily with over 60% of overall construction work in Cordoba now complete and on track for the scheduled completion date in Q4 2024. Over 23% of overall construction work in Toledo is also complete and on schedule to be handed over in Q2 2025.
    Chief Executive Officer of Bloom Holding, Carlos Wakim said: “As we continue our dedication to meet the growing need for premium community living destinations, the progress of the first two phasesof Bloom Living and the start of construction at Casares are a physical representation of the steadfast development of this fully integrated community and our commitment to deliver on schedule.
    “Bloom Living is on track to bring what will be one of Abu Dhabi’s most exciting and sought- after communities, and we are confident that this all-inclusive project will continue to see sustained high demand from investors and end users through the launch of the future phases.” He added.
    Casares features a Community Center surrounded by lush greenery and stunning landscaping. Also, those living within Casares can benefit from a wide range of facilities available at Bloom Living, just within a short walking distance. Residents can explore the beauty of nature at Bloom Living’s multiple uninterruptedly interconnected parks, and they can also enjoy their time at the community’s main Clubhouse which provides easy access to pools, sports, and recreational facilities.
    Additionally, at the heart of Bloom Living lies a Town Center, a vibrant community destination that offers an array of exquisite restaurants and cafés available for both residents and visitors, as well as a variety of retail options and services such as a medical clinic, a wellness center and a supermarket, to ensure that residents can obtain all their daily necessities without the need to leave Bloom Living.
    The focal point at Bloom Living will be a large lake around which residents can walk, run,and cycle in designated trails. For gatherings and leisure activities, the community features multi-purpose amphitheaters and Sunset and Sunrise Plazas with spectacular views.
    Moreover, Bloom Living comprises places of worship and two outstanding international schools.
    Inspired by the Mediterranean Spanish architecture Bloom Living features a selection of villas, townhouses, and apartments, to suit the unique needs of residents of all generations.The highly convenient gated community is located within Zayed City and close to Zayed International Airport. Bloom Living has been designated as an investment zone allowing buyers of all nationalities to purchase residential units in the development. (-Ends-)

  • It;s Been A Year and Finally Its Here! OMODA

    It;s Been A Year and Finally Its Here! OMODA

    It;s Been A Year and Finally Its Here! OMODA

    C5 Arrives in the UAE

    Dubai(News Desk)::Recently, the automobile brand OMODA& JAECOO, which is dedicated to leading future travel, officially announced that two new vehicles of OMODA C5 have arrived in the UAE. Since it was first unveiled in the UAE, OMODA has attracted the attention of the new generation of users with its avant-garde aesthetics and intelligent technologies. Finally, it is time to officially meet consumers! This also marks an important step for OMODA in its global expansion strategy.
    OMODA C5 has arrived in the UAE
    As a crossover SUV, OMODA C5 not only showcases exquisite design art, but highlights outstanding safety performance as well. Its unique exterior design features a diamond cut geometric matrix grille and 18-inch two-color blade wheels, fully embodying OMODAs exploration of future aesthetics. The design language of "Art in Motion creates a fashionable and avant-garde visual effect, which has also become a major highlight of OMODAs widespread user recognition.
    In terms of safety configuration, OMODA C5 is equipped with an application proportion of ultra-high strength steel and 6 airbags. At the same time, it is equipped with the latest generation of 4.0 ADAS and 360° panoramic image, providing three-dimensional safety protection. In addition, OMODA C5 meets five-star safety standards in multiple regions worldwide,including E-NCAP and A-NCAP, ensuring comprehensive safety for the driver and passengers.
    The pace of OMODA C5s entry into the UAE market not only demonstrates the deepening and expansion of the brand strategic layout,but also its strength in continuously expanding its brand influence outward. With the arrival of OMODA C5, the OMODA UAE team also plans to hold its first offline meetup by the end of March , UAE media and consumers will have the opportunity to experience OMODAs cutting-edge design and innovative technology up close, welcoming a new era of intelligent driving.
    OMODA E5 has been attracting attention in the global market 

    OMODA OFFICIAL Website : http://omodaglobal.com
    In addition to the petrol car OMODA C5, another electric car from OMODA&JAECOO, the OMODA E5, has also brought good news in the first quarter of 2024. Since its debut in April last year, the OMODA E5 has garnered attention in nearly 20 countries and regions around the world. This year, it has made successive appearances in Chile, Indonesia, Spain, Malaysia, and other countries, continually leading in the local new energy vehicle segment. Regarding market performance, the OMODA E5 has achieved more than 2,300 orders in Indonesia less than a month after its launch. Furthermore, during the Indonesia International Motor Show (IIMS) held at the beginning of this year, 80% of the orders were collected, making it an undisputed best- selling model. The success of OMODA E5 in Southeast Asia is not a stroke of luck but a result of deep market insight and accurate positioning. Its fashionable and futuristic design, intelligent features, and product strategy that meet the needs of local consumers together have contributed to the model outstanding performance.
    Moreover, OMODA significant launches in markets like Chile, Malaysia, and Spain in 2024 have further expanded OMODAs market share in Central and South America, Southeast Asia, and Europe, deepening its global strategic deployment.The OMODA E5 is not only popular among consumers but has also received recognition and support from numerous national leaders. Its leading new energy concept and technology resonate with the low-carbon, green development strategies of countries worldwide, steering a green future in various nations and regions.

  • The future of design is Artificial Intelligence:

    The future of design is Artificial Intelligence:

    The future of design is AI:

    The largest professional AI summit in the Middle East receives overwhelming response for Interior Design Challenge

    DUBAI(News Desk):: Machines Can See 2024, the largest professional Artificial Intelligence (AI) summit in the Middle East, has received an overwhelming response with submissions from several AI teams for the Generative Interior Design Challenge launched ahead of the global conference. Supported by NVIDIA Corporation, the Challenge is aimed to support talents, capable of developing generative AI solutions to turn empty rooms into fully furnished living spaces guided solely by text descriptions. Three winners of the
    challenge will be awarded with graphics cards, access to deep learning institute training, and access to the cloud as a part of the inception program.
    The Machines Can See annual challenge is called to test the limits of machine learning possibilities, working around the real-life scenarios of AI implementation. This year the competition aims to evaluate the participants mastery of training their own generative AI models using text and image data to revolutionise the process of creating aesthetic and functional spaces.
    The Challenge started submissions on February 1, 2024, and will accept applications through April 1, 2024. The distinguished jury represented by AI experts and designers will announce the winners on April 17. Participation is free and does not have any geographical limitations. The final results will be evaluated by a human jury based on four main criteria including Room layout (Voting), Realism (Mean Opinion
    Score), Functionality (Mean Opinion Score), and Consistency with a text prompt.A Leaderboard Prize Pool makes USD 15,000, with the 1st place winner receiving USD 7,000. Moreover, all the three best contestants will be awarded a travel grant and will be invited to present their solutions in Dubai from the scene of the Museum of the Future at the Machines Can See 2024 Summit on April, 17. It’s a chance to showcase the solution in front of a global community of entrepreneurs, investors, and renowned AI experts.
    “Competitions are a great opportunity to uncover promising AI talents, see new approaches to the existing problems, and non-obvious AI implementation scenarios”,said Alexander Khanin, CEO of Polynome Event FZE. “It is our major goal – to fosterthe next wave of AI talents and we are very much excited to see what participants will come up with. It is they who will become the leaders of AI innovation tomorrow.”

    In 2023 the MCS computer vision competition gathered more than 1,500 submissions from teams and individual enthusiasts from India, the United States,Turkey, China, Germany, Italy, Poland, Ukraine, etc.
    Machines Can See 2024 is expected to gather over 5,000 researchers,entrepreneurs, investors, startup teams, and tech enthusiasts in Dubai in the Museum of the Future on April 17, 2024. The event is supported by leading innovative companies: NVIDIA, the Technology Innovation Institute (TII), Core42,
    Intema, Dubai Business Events (DBE), MBZUAI and Emirates. (-End-)

  • Ajman Bank Appoints Group Chief Financial Officer

    Ajman Bank Appoints Group Chief Financial Officer

    Ajman Bank Appoints Group Chief Financial Officer

    Ajman(News Desk)::Ajman Bank, a leading Islamic financial institution in the UAE, has announced the appointment of Mr. Ediz Ozsoy as the new Group Chief Financial Officer (CFO). This strategic move is aimed at further strengthening the bank’s leadership team and is testament to the bank’s commitment to delivering exceptional value to its customers and stakeholders. Mr. Ozsoy joins Ajman Bank after a successful tenure as the Country CFO for all Citi UAE legal entities, where he played a pivotal role in overseeing the finance activities across onshore, Dubai International Financial Centre (DIFC), and Abu Dhabi Global Market (ADGM) branches.

    Making the announcement, Mr. Mustafa Al Khalfawi, Group CEO of Ajman Bank, said, “We are glad to welcome Mr. Ediz Ozsoy to our team at Ajman Bank. His strong track record and wealth of experience in the financial sector make him an invaluable addition to our group. Mr. Ozsoy’s leadership qualities and strategic vision align perfectly with our goals to enhance our financial services and contribute to the economic development of the UAE.”

    Mr. Ediz Ozsoy is a senior finance professional known for his profound expertise and extensive experience in business and product management. His expertise encompass a wide range of critical areas including financial control, financial planning and analysis, and tax management.

    Prior to his position at Citi UAE, Mr. Ozsoy served as the CFO for Citi Bank in various prestigious markets such as the UAE, Qatar, Pakistan, Bahrain, and Kuwait, in addition to his role in Citi Turkey. His career is marked by a consistent demonstration of a strategic and analytical mindset, contributing significantly to the financial success of the organizations he has served.

    Mr. Ozsoy’s career also includes key leadership positions such as Head of Financial Planning & Analysis, Head of Strategic Partnership & Alliance, Chief of Staff, and Head of Strategic Planning, serving both CEOs and Commercial Banks. His diverse experience and visionary leadership in these roles have been instrumental in driving growth and operational excellence.-End-

  • ADNEC Group wins two gold and silver awards

    ADNEC Group wins two gold and silver awards

    ADNEC Group wins two gold and silver awards through its Capital 360 Event Experiences company in two categories at the Stevie Awards MENA ceremony

    ·       Gold Stevie Award recognises an innovative project highlighting an imaginative concept of a sustainable and transformative society

    ·       Silver Stevie Award rewards project spotlighting Abu Dhabi’s pivotal role in accelerating global digital transformation  

     

    Abu Dhabi(News Desk):: ADNEC Group, through its company Capital 360 Event Experiences, has won Gold and Silver awards in two separate categories of the prestigious Stevie Awards MENA.

    A Gold Stevie Award was presented in the category of ‘Innovation in Corporate events’ for an imaginative concept of a sustainable and transformative community. The Capital 360 Event Experiences team played a dynamic part in bringing this concept to life from the initial design strategy to successful delivery and execution.The team drew on its creative talents to combine minimalism, eco-consciousness, and technological innovation in an immersive journey of discovery within a unique living concept. In addition, a focus on sustainability and the seamless integration of technology were incorporated in the experiential design.

    Capital 360 Event Experiences also won a Silver Award in the ‘Innovation in Government Events’ category for a project that spotlighted Abu Dhabi’s pivotal role in accelerating global digital transformation through a cohesive and interactive journey for guests. The project highlighted how digitalization would accelerate the sustainable growth and development of the Emirate of Abu Dhabi.

    The sustainability theme was treated through an eco-conscious design by Capital 360 Event Experiences that employed minimal use of wood and a roof pattern inspired by the organic shapes of the Abu Dhabi mangroves. In this way, the team showcased the complementarity of innovation with sustainability and provided a pavilion that fused visionary design and immersive storytelling.

    Humaid Matar Al Dhaheri, Managing Director & Group CEO of ADNEC Group, said: ‘We are pleased that Capital 360 Events Experiences, a subsidiary of ADNEC Group, has received Stevie Awards in the Middle East and North Africa region as an represents an important milestone for the Group.’

    ‘This win confirms our commitment to excellence and innovation in the global events industry, as we work diligently to innovate and implement customers’ visions and concepts to the fullest and help enhance their businesses. We also remain dedicated to applying and enhancing sustainable practices as we create transformative experiences and showcase the latest technological advancements. As we look to the future, we remain focused on enhancing Abu Dhabi’s position as a premier destination for business and events, contributing to the prosperity of our community.’

    For his part, Ahmed Shaker, CEO of Capital 360 Event Experiences, said: ‘Winning the prestigious Stevie Awards is a recognition of the distinguished role played by the Capital 360 Event Experiences team and their tremendous capacity for innovation and operational excellence in every project they undertake.’

    ‘The work that we carried out demonstrated our creativity in the management of major events through the innovative integration of sustainability and digital transformation into the designs that were implemented with professionalism and skill. These awards were practical recognition of our team’s creativity, dedication, and expertise in turning complex visions into memorable realities.’

    Launched in 2002, the Stevie Awards are the world’s premier business awards honouring and publicly recognising the achievements and positive contributions of organizations and working professionals worldwide. In each Stevie Awards competition, the top scoring qualifying entry in each category receives a Gold Stevie Award.

    Finalists that receive a final average score of at least 8.0 out of a possible 10 are designated as Silver Stevie winners. All other Finalists are designated as Bronze Stevie winners. As a leading event management agency, Capital 360 is committed to excellence and innovation, from design to event execution, in its delivery of world-class experiences for clients and visitors.

    The comprehensive spectrum of event services offered encompasses creative design, technical production, audio-visual, standbuild and design, and conference management.

    In 2023, the agency successfully delivered 488 projects and expanded internationally across 8 global locations.– End –

     

  • New Snowflake Report Unveils Average of 90 AI-Apps Built Per Day in 2023

    New Snowflake Report Unveils Average of 90 AI-Apps Built Per Day in 2023

    New Snowflake Report Unveils Average of 90 AI-Apps Built Per Day in 2023

    Snowflake report unearths Python as the programming language of choice for AI development,

    while the processing of unstructured data has increased by 123 percent in the past year

    Dubai(News Desk): Large language models (LLMs) are increasingly being used to create chatbots, according to Data Cloud company Snowflake. As generative AI continues to revolutionize the industry, chatbots have grown from being approximately 18 percent of the total LLM appsavailable, to now encompassing 46 percent as of May 2023 — and that metric is only climbing. In addition, after surveying Streamlit’s developer community, it was found that nearly 65 percent of respondents noted that their LLM projects were for work purposes, signaling a shift in the importance of harnessing generative AI to improve workforce productivity, efficiency, and insights.
    These results are based on usage data from more than 9,000 Snowflake customers, and summarized
    in Snowflake’s new Data Trends 2024 report. The report focuses on how global enterprise business and technology leaders are leveraging resources such as AI to build their data foundation andbtransform future business operations. The new data shows a shift from LLM applications with text-based input (2023: 82%, 2024: 54%) to chatbots with iterative text input, offering the ability to havea natural conversation.
    Conversational apps are on the rise, because that’s the way humans are programmed to interact.
    And now it is even easier to interact conversationally with an application,” explains Jennifer Belissent, Principal Data Strategist at Snowflake. “‘We expect to see this trend continue as it becomes easier to build and deploy conversational LLM applications, particularly knowing that the underlying data remains well governed and protected. With that peace of mind, these new interactive and highly versatile chatbots will meet both business needs and user expectations.                                                                                               Over 33,000 LLM Applications in Nine Months
    The report also shows that 20,076 developers from Snowflakes Streamlit community of developers
    have built over 33,143 LLM apps in the past nine months. When it comes to developing AI projects,
    Python is the programming language of choice due to its ease of use, active community of
    developers, and vast ecosystem of libraries and frameworks. In Snowpark, which enables developers
    to build apps quickly and cost-effectively, the use of Python grew significantly faster than that of Java
    and Scala (in the past year)— Python grew by 571 percent, Scala by 387 percent, and Java by 131
    percent. With Python, developers can work faster, accelerating prototyping and experimentation—and therefore overall learnings as developer teams make early forays into cutting-edge AI projects.
    In terms of where application development is taking place, the trend is towards programming LLM
    applications directly on the platform on which the data is also managed. This is indicated by a 311 percent increase in Snowflake Native Apps – which enables the development of apps directly on Snowflake’s platform – between July 2023 and January 2024. Developing applications on a single data platform eliminates the need to export data copies to third-party technologies, helping develop and deploy applications faster, while reducing operational maintenance costs.
    Data Governance in Companies is Growing in Importance
    With the adoption of AI, companies are increasing analysis and processing of their unstructured data.
    This is enabling companies to discover untapped data sources, making a modern approach to data
    governance more crucial than ever to protect sensitive and private data. The report found that enterprises have increased the processing of unstructured data by 123 percent in the past year. IDC estimates that up to 90 percent of the worlds data is unstructured video, images, and documents.Clean data gives language models a head start, so unlocking this untapped 90 percent opens up a number of business benefits.

    “Data governance is not about locking down data, but ultimately about unlocking the value of data,”
    said Belissent. “We break governance into three pillars: knowing data, securing data and using data to deliver that value. Our customers are using new features to tag and classify data so that the  appropriate access and usage policies can be applied. The use of all data governance functions has increased by 70 to 100 percent. As a result, the number of queries of protected objects has increased by 142 percent. When the data is protected, it can be used securely. That delivers peace of mind.”
    Taken individually, each of these trends is a single data point that shows how organizations across the globe are dealing with different challenges. When considered together, they tell a larger story about how CIOs, CTOs, and CDOs are modernizing their organizations, tackling AI experiments, and solving data problems — all necessary steps to take advantage of the opportunities presented by advanced AI, says Belissent. The important thing to understand is that the era of generative AI does not require a fundamental change in data strategy. It does, however, require accelerated execution of that strategy. It requires breaking down data silos even faster and opening up access to data  sources, wherever they may be in the company or across a broader data ecosystem