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Category: Commerce

  • ADNEC Group contributed record AED8.5bn to UAE economy in 2024

    ADNEC Group contributed record AED8.5bn to UAE economy in 2024

    ADNEC Group contributed record AED8.5bn to UAE economy in 2024

    Abu Dhabi(News Desk):: ADNEC Group has delivered the highest economic impact in its history,contributing AED8.5 billion to the UAE economy and surpassing the AED7.4 billion achieved in 2023. This  milestone highlights the group’s growing role in driving economic growth and supporting the UAE’s strategic objective of building a diversified, knowledge-based economy.

    Humaid Matar Al Dhaheri, Managing Director and Group CEO of ADNEC Group, said: “2024 has been a landmark year for ADNEC Group, marked by exceptional achievements across all sectors of our usiness. These milestones are a direct result of the sustained support of our wise leadership, whose guidance enables us to continue contributing to Abu Dhabi’s economic growth and global prominence.
    “Our 2024 results also reflect ADNEC’s unwavering dedication to delivering significant value to our key shareholders and partners in both the government and private sectors, as well as the hard work and commitment of our team to innovation, sustainability and excellence. As we look to the future, we remain focused on driving positive impact locally and globally, in alignment with the UAE’s vision for economic diversification and sustainable development.”
    The year also saw ADNEC Group successfully acquire Royal Catering and the Business Design Centre in
    London, UK, expanding its portfolio of venues to four and strengthening its market presence. These achievements underscore ADNEC Group’s commitment to fostering talent and delivering exceptional results across its key business segments.
    Sustainability remained a key focus, with ADNEC Group winning the Sheikh Hamdan Environmental Award. The ADNEC Centre Abu Dhabi also became the first MICE venue in the Middle East to be powered by clean energy from the Emirates Water and Electricity Company (EWEC), setting a new standard for environmental leadership in the region. The launch of TerraTile, an innovative sustainable flooring product made from exhibition waste, demonstrated the group’s dedication to advancing sustainability in the events industry.

    ADNEC venues including ADNEC Centre Abu Dhabi, ADNEC Centre Al Ain and ExCeL London hosted more than 1,000 events in 2024, welcoming over 5.4 million visitors, the highest number in its history.
    Among the year’s highlights were the completion of the ExCeL London expansion, which saw the venue reach 270,000 square metres. ADNEC Centre Abu Dhabi hosted the largest and most successful editions of flagship events such as the Abu Dhabi International Boat Show (ADIBS), Global Food Week, and Abu Dhabi International Hunting and Equestrian Exhibition (ADIHEX).
    Capital Events, the event organising arm of ADNEC Group, facilitated more than AED10 billion in deals at eight of its events, further solidifying its reputation as a leader in event management. ADNEC Hotels welcomed a record-breaking 1,531,000 guests, while Capital Catering, the group’s Food & Beverage cluster, delivered 40 million meals across 45 locations and catered for 2,200 weddings and events, including the largest corporate Iftar at ADNEC Centre Abu Dhabi for 8,000 guests.
    Capital 360 Event Experiences achieved its most successful year, driven by regional expansion and key project wins, including ventures in Saudi Arabia and Qatar. Tourism 365, the tourism arm of ADNEC Group, managed 350,000 travellers, generating 250,000 room nights, the highest performance since its establishment.
    Twofour54, an ADNEC Group company, expanded its offerings with the launch of two state-of-the-art TV
    studios at Yas Creative Hub and supported 34 regional and international major Hollywood productions through its Tawasol initiative. The group also exited its investment in ZenHR, delivering a 300 per cent ROI.

    ADNEC Group’s 2024 achievements highlight exceptional performance across its seven core business sectors, including venues, events, hospitality, food and beverage, services, tourism, and media. These accomplishments were driven by the group’s efforts to innovate, expand and embrace sustainability across all its business units.

    As ADNEC Group enters 2025, it remains committed to advancing Abu Dhabi’s vision for economic diversification and sustainable development. By pursuing new business opportunities across its core sectors, the group aims to further enhance its global leadership in business tourism, events, and hospitality while driving long-term value for the UAE and its people.-Ends-

  • ADFD launches AED 440 million “Sofitel Legend Pyramids Giza” project

    ADFD launches AED 440 million “Sofitel Legend Pyramids Giza” project

    ADFD launches AED 440 million “Sofitel Legend Pyramids Giza” project to boost Egypt’s tourism sector

    Abu Dhabi(News Desk)– As part of its efforts to support and revitalize Egypt’s tourism sector and enhance strategic investments, the Abu Dhabi Fund for Development (ADFD) has announced the launch of the “Sofitel Legend Pyramids Giza” project. This luxury five-star hotel will be a landmark addition to the hospitality and tourism sector in Egypt and the broader Middle East, reinforcing .the UAE’s commitment to advancing global economic partnerships and supporting sustainable development.

    Valued at AED 440 million (US$ 120 million), the project will feature 302 rooms equipped with state-of-the-art amenities. The hotel will also house a selection of international restaurants and entertainment facilities, positioning it as a premier destination for luxury hospitality.
    The project is financed through a strategic partnership between the private sectors of the UAE and Egypt. ADFD is contributing 84.28% of the project’s capital through Abu Dhabi Tourism Investment Company (ADTIC). Additionally, Abu Dhabi National Hotels owns 10.22%, Overseas Tourism Investment Company holds 0.4%, Misr Hotels Company owns 2.73%, and the Egyptian General Company for Tourism & Hotels owns 2.37%.

    The foundation was jointly laid by H.E Mohamed Saif Al Suwaidi, Director General of ADFD, Engineer Adel Al-Najjar, the Governor of Giza, from the Egyptian government, and the presence of officials from both sides.
    Blending rich history with modern luxury, the project promises an exceptional hospitality experience that meets the highest international standards. Abu Dhabi Tourism Investment Company is partnering with Accor Group, a globally
    renowned hospitality brand, to manage the hotel and ensure excellence in service and guest experience.

    H.E Mohamed Saif Al Suwaidi, said: “Sofitel Legend Pyramids Giza” project is a significant step in strengthening Egypt’s tourism sector, offering a world-class hotel experience that underscores our commitment to sustainable investments in promising markets. Through our partnership with Accor Group, we aim to elevate the tourism industry while supporting economic and social development in Egypt.”
    He called this investment a reflection of ADFD’s commitment to advancing sustainable development projects and driving investment partnerships that fuel economic growth in partner countries.” Engineer Adel Al-Najjar, expressed gratitude to ADFD for its continued support. “We appreciate Abu Dhabi Fund for Development’s commitment to supporting Egypt’s development projects, particularly in key economic sectors like tourism.
    The Sofitel Legend Pyramids Giza project represents a transformative step in strengthening our tourism infrastructure, enabling us to attract visitors from around the world thanks to its strategic location near Egypt’s most iconic archaeological sites.”
    He noted that this project is a model for successful investment collaboration between Egypt and the UAE. “We look forward to expanding such partnerships to further our sustainable development goals,” he said. By blending luxury hospitality with Egypt’s rich cultural heritage, the Sofitel Legend Pyramids Giza project will strengthen the country’s position as a premier global tourist destination. Its strategic location near iconic landmarks will attract
    visitors from around the world, creating new investment opportunities and driving the sustainable growth of Egypt’s tourism sector.
    Through investments in transformative infrastructure projects like this, the UAE reaffirms its commitment to supporting Egypt’s national development agenda while advancing the United Nations Sustainable Development Goals (SDGs), particularly Goal 8 (Decent Work and Economic Growth) and Goal 9 (Industry, Innovation, and Infrastructure).

  • Governments should grasp gender-responsive budgeting as an opportunity

    Governments should grasp gender-responsive budgeting as an opportunity

    Governments should grasp gender-responsive budgeting as an opportunity to address systemic gender disparities

    Research highlighting progress on gender-responsive budgeting underlines how professional
    accountants are uniquely placed to play a central role in contributing to an inclusive society

    Dubai(News Desk):: Gender-responsive budgeting (GRB) should be seen by policymakers and governments as a key tool for driving inclusive growth and systemic change. In new research, Gender-responsive budgeting: unlocking the potential, global accountancy body ACCA draws on the experience of professional accountants and leaders across Eastern Europe, Eurasia and the Middle East.
    Joe Fitzsimons, senior manager, Policy and insights, ACCA, said: “This report offers critical insights into the strategies and tools that facilitate the effective adoption of GRB across government agencies and state-owned organisations. Accountants have a vital role in the application of GRB using their skills and knowledge of data analysis, budgetary techniques and policy advocacy. They can also monitor and evaluate the effectiveness of GRB implementation.
    Governments are increasingly turning to GRB as they pursue more equitable and just societies.”The Middle East Institute has recommended that the full participation of women on national adoption plans represents a key opportunity to develop gender-response policies and actions.

    Kush Ahuja, Head of Middle East and Eurasia, ACCA, said: “At ACCA we demonstrate the profession’s ability to lead in addressing the world’s more pressing issues. We look forward to working with government, policymakers, business and other stakeholders to see how GRB can be adopted as a force for good in the region.”
    The report recommends policy makers adopt the following to move towards implementing GRB:
    ● Build institutional capacity and awareness
    ● Strengthen data collection and analysis
    ● Learn from best practice and benchmark against peers
    ● Establish inter-ministerial collaboration and partnerships
    ● Champion gender-balanced leadership and decision-making.
    Jessica Bingham, Global Sustainability Lead – Strategy, ACCA, said: “Incorporating gender considerations into budgetary processes enables governments to ensure that resources are allocated in a way that meets the diverse needs of all. This in turn promotes fairness but also lays the foundations required for sustainable economic growth and social inclusion.
    Policymakers have an opportunity to embrace GRB and ensure it is a fundamental component of their strategies creating a more equitable future for all.”Read the report here.
    Find out how ACCA promotes gender equality: watch ACCA’s women president, deputy president and vice president in conversation with three aspiring ACCA women students as they celebrate IWD by talking about diversity, equality and inclusivity and what they all find inspiring about a career in accountancy.(- ends -)

  • e& UAE launches ‘Save & Grow’ green programme

    e& UAE launches ‘Save & Grow’ green programme

    e& UAE launches ‘Save & Grow’ green programme blending sustainability discounts, and tree planting with every online purchase

     Partners with Kindred.co to support the exclusive launch

    • First programme in the region to allocate a portion of revenues to support an environmental initiative
    • Users can enjoy discounts on global brands to make a meaningful impact with every purchase

    Dubai(News Desk):: e& UAE, the flagship arm of e& and Kindred.co, a media commerce company operating in over 180 markets, has announced the launch of a first in the region innovative new programme, “Save & Grow” to the e& UAE app. This new addition elevates user experience by enabling users to save money while contributing a part of the revenue to environmental sustainability.

    e& UAE users can activate the “Save & Grow” programme through the e& UAE App, unlocking exclusive deals and discounts, and save an average of 10 per cent per transaction across more than 9000 online retailers such as Noon, Ounass, Namshi. The programme ensures smarter savings by providing timely notifications on available offers as users browse or before they complete their purchases.

    In addition to cost savings, “Save & Grow” will also contribute to environmental sustainability. A share of the revenue from each transaction will be directed towards eco-friendly initiatives, starting with a tree-planting initiative in the UAE. This project, carried out in collaboration with The Storey Group, allows e& UAE users to make a meaningful impact with every purchase, empowering them to contribute to a greener future.

    The Save & Grow initiative aims to reach out to e& UAE’s extensive user base, and leverage on the strength of collaborative efforts to advance the fulfillment of e& UAE’s commitment to sustainability, particularly in its tree planting efforts across the UAE. Since 2019, e& has accelerated its energy efficiency programmes and managed multiple initiatives to reduce greenhouse gas emissions. These include exclusive offers for UAE’s 52nd and 53rd National and the initiative to plant mangroves in the UAE, as well as its partnership with COP28 to further strengthen its commitment to achieving net-zero Scope 1 and 2 emissions for its operations in the UAE by 2030.

    Khaled El Khouly, Chief Consumer Officer, e& UAE, said: “At e& UAE, we are constantly seeking ways to deliver tangible value to our customers. The “Save & Grow” programme goes beyond providing users with a way to save on everyday purchases- it reflects our broader commitment to embedding sustainability into digital experiences. In partnership with Kindred.co, we are empowering our customers to make impactful choices that benefit both their lives and the environment.”

    “The partnership with e& UAE is a testament to the growing importance of sustainability in digital commerce. We believe that technology can play a crucial role in helping consumers make more sustainable choices, and ‘Save & Grow’ is a perfect example of this. We are proud to support e& UAE in empowering their customers to contribute to a greener future.” said Anubhav Nayyer, Chief Business Officer, Kindred.co.

    “At The Storey Group, we believe that corporate sustainability must go beyond pledges—it requires meaningful, measurable action. Our partnership with e& is a testament to how businesses can play a pivotal role in restoring ecosystems while addressing climate change. By integrating tree planting into corporate sustainability strategies, we are not just reducing carbon footprints; we are regenerating biodiversity, strengthening communities, and creating a tangible environmental legacy. Together, we are turning sustainability into action—one tree at a time.” – Fahad Masood, COO

    Through this launch, e& UAE and Kindred.co aim to create a seamless, rewarding experience for users that not only saves them money but also helps them make a positive difference in the world.

     Consumers are increasingly becoming more digitally connected, and eco-conscious. The demand for integrated offerings has also blurred the lines between telecom services, e-commerce and ESG activations. As such, it is now more important than ever that brands in different industries work together to create innovative and value-driven experiences for their users to be able to win together.

    Users can explore the “Save & Grow” programme in the “What’s New” and under the “quick access” on the home page section of the e& UAE App and discover a curated selection of top deals when they access the list of top sites. They can also track the cumulative number of trees planted as a result of “Save & Grow” funding. Customers can update or download the e& UAE app to start enjoying these benefits.-END-

  • VFS Global Academy and Transformative Academy Completes 1st Batch of Training

    VFS Global Academy and Transformative Academy Completes 1st Batch of Training

    VFS Global Academy and Transformative Academy Completes First Batch of Training in Riyadh, KSA

     Certification issued by Cambridge University awarded to the inaugural class

     100% job placement secured for graduating class

    Riyadh(News Desk)::VFS Global Academy announces the successful completion of its inaugural training programme in Riyadh, in collaboration with Transformative Solutions Consulting, the leading Saudi-GCC consulting and educational firm dedicated to empowering individuals and organizations through innovative, high-impact leadership and human capital development programs. The programme, aligned with Saudi Vision 2030, focused on enhancing skills within the hospitality and tourism sectors, and has resulted in 100% job placement for all 20 graduating interns.

    The pioneering batch comprised students from various universities including government universities, who underwent a comprehensive 3-month Certificate Programme in Tourism and Hospitality Management. The curriculum encompassed a diverse range of modules, including:
     New Employee Training Programme
     Biometric Officer Guide
     Personal Information & Data Protection
     Fundamentals of Travel & Tourism
     Travel Documentation
     Customer Service Excellence
     Effective Communication
     Business Etiquette & Grooming
     Introduction to Hospitality Management
     Service Management
     The Art of Sales

    Dr. Khalid AlYahya – Senior Partner – Chairman, Transformative Solutions Consulting said,The 100% placement rate is a testament to the programmes effectiveness and its alignment with industry demands. We are delighted to have partnered with VFS Global Academy on this initiative, which not only provides valuable
    training but also guarantees employment opportunities for these talented young Saudi nationals. This is a crucial step in developing a robust and sustainable workforce for the future of tourism and hospitality in the Kingdom.

    Commenting on the inaugural training programme completion and the 100% placement rate, Mr. Sumanth Kapoor, Head – KSA and Bahrain, VFS Global said: “This programme represents a significant milestone and commitment to supporting the growth and development of the Saudi workforce. The skills and knowledge acquired by these students will equip them for success in the dynamic tourism and hospitality sectors, contributing to the realisation of Saudi Vision 2030. VFS Global Academy, is poised to become a leading provider of high-quality training programmes in the Kingdom. This successful pilot programme lays the foundation for future initiatives that will contribute to the growth and development of the Saudi tourism and hospitality sectors.”The programme featured a distinguished faculty, including local experts and international guest lecturers such as Dr. Ruchita Verma, Dean of VFS Global Academy, and Ms. Shivani Bahl, Consultant to the British High Commission – Dubai.

    As part of the academic partnership, the students received certificates of completion from the University of Cambridge. This collaboration will further expand into exclusive short programmes in areas like Tourism, Entrepreneurship, Science Innovation, and more, delivered within the Cambridge ecosystem. VFS Global Academy soon will also start delivering short courses to other universities students, focusing on tourism, hospitality, and hotel management. It will include paid internship programmes, international student exchanges with China, and workforce development initiatives.
    Furthermore, an online English language learning programme has been organised for a select group of students to enhance their business communication skills.END

  • e& UAE and evision launch STARZ ON Business

    e& UAE and evision launch STARZ ON Business

    e& UAE and evision launch STARZ ON Business to redefine digital entertainment for SMBs and Enterprises

     New enterprise streaming service offers industry-specific entertainment and digital signage solutions for businesses

     Abu Dhabi(News Desk):: – e& UAE and evision today announced the launch of STARZ ON Business, a pioneering over-the-top (OTT) TV service tailored specifically for small and medium-sized businesses (SMBs) and enterprise customers.

    The new service is set to transform the way businesses engage and entertain their customers, offering a unique mix of curated live TV and video on demand (VoD) content designed for various business verticals.

    Developed by evision the leading media & entertainment arm of e&, STARZ ON Business provides specialised tech and entertainment solutions tailored to the unique needs of various industries, including restaurants, retail, fitness centres, hospitality and more. The service also includes digital signage, enabling businesses to seamlessly showcase brand messages and create a dynamic visual environment that captivates and engages customers.

    Esam Mahmoud, Senior Vice President, SMB, e& UAE – Business, said: “With STARZ ON Business, we are pioneering a new era of digital entertainment for businesses. We are empowering businesses to connect with their audiences in innovative and meaningful ways, by offering curated content and integrated solutions. This launch is a testament to our commitment to driving digital transformation and providing unparalleled value to our business customers. We are excited to embark on a journey that will redefine customer experiences across diverse sectors.”

    Zahra Zayat, Chief Commercial Officer, evision: “We are thrilled to introduce STARZ ON Business, a first of its kind OTT TV service for SMB and enterprise clients in the region designed to expand our reach and revolutionise customer engagement. This innovative service will provide businesses with powerful tools to entertain and captivate audiences through a curated mix of live TV channels and on-demand content specific to the respective industries while allowing SMBs and enterprise companies to upsell their products. At evision, we are committed to delivering cutting edge technology solutions that drive business success and enhance customer experience”.

    Customers can sign up for STARZ ON Business via online and offline channels. The standalone OTT package starts at AED 29; while more comprehensive packages, which includes OTT with digital signage and TV features, starts at AED 159.

    New subscribers will enjoy a free first month when they sign up for any OTT subscription, whether it’s the Basic, Advance, or Premium tier.

    STARZ ON Business provides numerous benefits for its customers. Firstly, tailored VoD content that resonates with specific industries like culinary related content for restaurants, fitness-related videos for gyms, and lifestyle segments for retail, ensuring relevant and engaging material for their audience. Moreover, the service also minimises hardware requirements by allowing a single screen to serve dual purposes – accommodating both OTT streaming and digital signage. This reduces costs and simplifies the setup process for businesses. Additionally, businesses can seamlessly integrate brand messages and OTT content using split-screen functionality. This maximises the utility of screen real estate, creating a more engaging customer experience.END

     

     

     

  • Snowflake Integrates Microsoft Azure OpenAI Service to Provide Access to the Latest OpenAI Models

    Snowflake Integrates Microsoft Azure OpenAI Service to Provide Access to the Latest OpenAI Models

    Snowflake Integrates Microsoft Azure OpenAI Service to Provide Access to the Latest Open AI Models

    Dubai(News Desk)– Snowflake (NYSE: SNOW), the AI Data Cloud company, today announced an expanded partnership with Microsoft that will empower enterprises to build  easy, efficient, and trusted AI-powered apps and data agents with OpenAI’s models directly in Snowflake Cortex AI, Snowflake’s fully managed AI service. Snowflake Cortex AI will integrate Microsoft Azure OpenAI Service in Azure AI Foundry, making OpenAI’s state-of-the-art models available for use on Microsoft Azure regions within Snowflake, and optimised to reason across audio, video, and text in real-time.

    Snowflake Cortex AI will integrate Microsoft Azure OpenAI Service in Azure AI Foundry, enabling businesses to access OpenAI’s advanced models within Snowflake on Microsoft Azure regions.Optimised for real-time analysis across text, audio, and video, this integration allows enterprises to create secure, AI-powered data agents within Snowflake’s AI Data Cloud By bringing OpenAI’s models to Cortex AI through an integration with Azure OpenAI Service, Snowflake further solidifies its leadership in providing users with frontier AI models within the same unified governance framework as their data—ultimately saving businesses time and money.
    “We’re expanding our long-standing partnership with Microsoft to deliver the best of OpenAI’s innovations
    directly to our customers, further advancing our promise to bring easy, efficient, and trusted AI to enterprises around the world,” said Christian Kleinerman, EVP of Product, Snowflake.There’s enormous power in our customers being able to use OpenAI models directly in Snowflake’s secure platform, unlocking multimodal, agentic, and conversational AI use cases that drive high impact.” . Snowflake’s cross-region and cross-cloud AI inference also enables global customers to seamlessly access OpenAI’s models from any cloud or region, without needing complex integrations or manual setup. Access to these models is secured with Snowflakes strong security guarantees through deep integrations with Microsoft Azure, providing protected connections for customers on any cloud provider.
    OpenAI’s models provide advanced reasoning and instruct capabilities, allowing users to quickly build scalable AI apps and data agents that deliver accurate, grounded insights using their enterprise data.
    Snowflake customers achieve this because OpenAI’s models run within the security boundary of Snowflake’s AI Data Cloud. Snowflake Horizon Catalog’s strong enterprise-grade compliance, security, privacy, discovery, and collaboration capabilities natively integrated into Cortex AI allows users to focus on driving impact with OpenAI’s models.
    “Enterprises are looking to leverage their proprietary data to create AI differentiation in ways that bring the
    richest experiences to the world, and the Snowflake partnership with Azure OpenAI Service through Azure AI Foundry will empower our joint customers to deliver intuitive and trustworthy app experiences even faster,” said Asha Sharma, CVP, Head of Product, Microsoft AI Platform. “It’s our shared data-centric approach to AI that helps break down barriers to production for businesses of all sizes.”Bringing OpenAI to the AI Data Cloud with Azure OpenAI Service A recent MIT Technology Review Insights report, Data Strategies for AI Leaders, found that 59% of
    respondents see data governance, security, or privacy as key challenges in deploying generative AI. For businesses, trust and security are critical to AI success. By integrating OpenAI’s models into Cortex AI via Azure OpenAI Service, Snowflake ensures strong data governance, access controls, and monitoring—helping enterprises protect their most sensitive information.
    With OpenAI’s models in the AI Data Cloud, joint customers of Snowflake and Microsoft can now seamlessly combine structured and unstructured data to deliver a richer, more engaging user experience.
    OpenAI’s models will be available on select Microsoft Azure regions in the United States, with plans to expand globally. In addition to OpenAI’s models, Snowflake offers various models from leading providers including
    Anthropic, DeepSeek, Meta, Mistral, and more, alongside Snowflake’s Arctic open source language and embedding models. Snowflake is committed to making the top-performing models seamlessly accessible to users within Cortex AI, allowing customers the choice and flexibility to select the best model for their specific use case.

    Snowflake Brings Data Agents to Microsoft 365 Copilot and Microsoft Teams With this expanded partnership, Snowflake is working with Microsoft to bring users Snowflake Cortex Agents to Microsoft 365 Copilot and Teams (anticipated general availability in June 2025). Powered by Cortex AI, these agents will allow Microsoft’s enterprise customers to interact with their structured and unstructured Snowflake data using natural language directly within Microsoft apps—making it easier to ask questions and gain insights from tools they use every day. This integration helps users of all skill levels access AI-driven insights, boosting productivity and smarter decision-making. Developers can also use REST APIs to build secure, customised interfaces between Microsoft 365 apps and their data in Snowflake, while data and engineering teams can leverage Cortex AI in Microsoft Copilot to accelerate
    business insights.
    © 2025 Snowflake Inc. All rights reserved. Snowflake, the Snowflake logo, and all other Snowflake product, feature
    and service names mentioned herein are registered trademarks or trademarks of Snowflake Inc. in the United States
    and other countries. All other brand names or logos mentioned or used herein are for identification purposes only
    and may be the trademarks of their respective holder(s). Snowflake may not be associated with, or be sponsored or
    endorsed by, any such holder(s).

  • ADX Welcomes Alpha Data’s  Listing, First UAE IPO of 2025

    ADX Welcomes Alpha Data’s  Listing, First UAE IPO of 2025

    Abu Dhabi Securities Exchange Welcomes Alpha Data’s  Listing, First UAE IPO of 2025

     Second ADX offering in 2025.

     Alpha Data raised AED 600 million through a double digit oversubscribed IPO, with a

    market cap of AED 1.5 billion upon listing.

     Listing reinforces ADX’s position as a diversified market; expands its technology offering with companies in Artificial Intelligence (AI), Big Data, and Cloud Computing.

    Abu Dhabi(News Desk) – The Abu Dhabi Securities Exchange (ADX),  the second-largest exchange in the Middle East, today welcomed the successful listing of Alpha Data, a leading digital transformation provider and systems integrator in the UAE. This marks the UAE’s first IPO and the Exchange’s second offering in 2025, reinforcing the Exchange’s commitment to broadening the market and offering diversified investment opportunities.

    Alpha Data’s IPO attracted strong demand from regional and international investors, with the Offering oversubscribed by double digits. The company raised AED 600 million (USD 163 million) through the issuance of 400 million shares, representing 40% of its issued share capital, at the top end of its offer price of AED 1.50 per share. Upon listing, Alpha Data’s market capitalization stands at approximately AED 1.5 billion (USD 408 million), underscoring its strong position in the UAE’s technology sector.

    The listing underscores ADX’s commitment to supporting the UAE’s tech industry by attracting high-growth companies in future-focused fields such as AI, the Internet of Things (IoT), Big Data, and Cloud Computing. Through its deep and dynamic capital market, ADX provides companies with efficient access to growth capital, supporting their expansion and innovation while reinforcing its role in driving economic diversification and technological advancement.

    Commenting on the listing, Abdulla Salem Alnuaimi, Group Chief Executive Officer of ADX, said: We are delighted to welcome Alpha Data to ADX as the UAE’s first IPO of 2025 and our second offering during the year. This milestone reflects our unwavering commitment to providing investors with access to a dynamic and diversified marketplace, particularly in the high-growth digital infrastructure and technology sector. As ADX continues to expand its offering, we are creating greater opportunities for investors to participate in the digital economy.

    The listing of Alpha Data—an industry leader in AI, Big Data, and Cloud solutions— is an extension of the ADX Group’s efforts in enabling pioneering businesses to drive innovation and support Abu Dhabi’s economic transformation. As a key enabler of sustainable growth and capital market development in the region, we will continue to support more private companies to achieve their growth ambitions via the ADX listing platform.

    Fayez Ibbini, Founder and CEO of Alpha, commented:We are incredibly proud to join the Abu Dhabi Securities Exchange as a homegrown UAE family business after seeing strong demand and support for our strategic vision during our IPO. Our listing marks an exciting new chapter for Alpha Data and is more than just a milestone in our 40-year journey of growth and innovation; it’s a commitment to our shareholders and the broader market to keep delivering growth and champion technological developments. We look forward to continue driving digital transformation and delivering exceptional value to our shareholders as we step into this new era.

    ADX’s has recently announced the recent launch of ADX Group, which has established advanced trading, clearing, and settlement capabilities through its new subsidiaries, AD Clear and AD CSD.

    These developments create a more dynamic and efficient marketplace for issuers and investors,cementing Abu Dhabi’s status as a leading global financial center. – Ends –

  • Smiles and Amazon.ae team up to provide Amazon Prime offers

    Smiles and Amazon.ae team up to provide Amazon Prime offers

    Smiles and Amazon.ae team up to provide Amazon Prime offers to customers in the UAE

    Abu Dhabi,(News Desk):: – Shopping, streaming, and savings are set to get much better and more rewarding as Smiles, the UAE’s premier everyday rewards SuperApp, teams up with Amazon.ae to offer customers in the UAE up to 6 months of Amazon Prime, using Smiles points.

    With this collaboration, customers can now subscribe to an Amazon Prime membership directly on the Smiles app at discounted prices of up to 58 per cent, courtesy of Smiles. Customers have the flexibility to redeem their Smiles Points against the subscription or pay using their credit card, earning additional points with every purchase.

    Khaled ElKhouly, Chief Consumer Officer, e& UAE, said: “Our collaboration with Amazon is all about bringing real value and convenience to our customers. By offering discounts on Amazon Prime subscriptions through the Smiles app, we’re making it easier to Reward Your Everyday while enjoying the best in shopping, entertainment, and savings.”

    Smiles customers can now subscribe to a 3 or 6-month Amazon Prime membership at a promotional rate through the Smiles app.

    • 3-Month Promotion:
      Available for just AED24 on the Smiles app (retail price at AED48)—a 50 per cent discount. Customers can redeem this offer using 3,000 Smiles Points or pay via credit/debit card.
    • 6-Month Promotion:
      Available for only AED40 on the Smiles app (retail price at AED96)—a 58 per cent discount. Customers can redeem this offer using 5,000 Smiles Points or pay via credit/debit card.
    • After the promotional period, customers will automatically be billed AED16/month by Amazon.ae to continue enjoying their Amazon Prime membership benefits.

    This collaboration brings together the best of both worlds for customers in the UAE, combining Smiles’ innovative rewards ecosystem with the incremental value of Amazon Prime shopping, convenience and entertainment benefits.

    Smiles, the UAE’s leading everyday rewards SuperApp, boasts a community of over five million loyal members. It empowers customers to earn and redeem points for a wide range of daily activities, including ordering food and groceries, booking home services, dining out, shopping, entertainment, travelling, and much more. “Reward Your Everyday” underscores Smiles’ commitment to enhancing every aspect of daily life and integrating the SuperApp more deeply into the lifestyles of UAE residents by making each interaction convenient and rewarding and delivering unmatched value and convenience to its customers.

    Prime continues to be the best way to enjoy Amazon, offering members a wide range of benefits such as Free Same-Day and One-Day Delivery, Free International Delivery from Amazon US, UK and Germany and access to Prime Video and Prime Gaming.-END-

  • Chery UAE Announces Exclusive Deals for Ramadan

    Chery UAE Announces Exclusive Deals for Ramadan

    Chery UAE Announces Exclusive Deals for Ramadan

    Launched under the slogan “This Ramadan, Chery Will Pay”

    2 years of free service and a 6-year warranty covering up to 200,000 km

    Dubai(News Desk):: Chery UAE, in partnership with AW Rostamani Group – the sole and official distributor for Chery cars in the UAE – has announced new offers for customers purchasing a Chery car during Ramadan.

    Launched under the slogan “This Ramadan, Chery Will Pay”, the highly competitive offers boast multiple
    benefits, including 0.99% interest for 3 years, free fuel for a period of one year delivered to the customer’s doorstep, a one-year car insurance policy, 2 years of free service and a 6-year warranty covering up to 200,000 km.

    Zaher Sabbagh, Director of Chery UAE, commented on the new offers: “At Chery UAE, we are fully committed to delivering a superior customer experience. This Ramadan, upon choosing any model from our pioneering line-up of exceptional vehicles, customers get to enjoy unmatched advantages that will optimize their purchase value and deliver on Chery’s promise of excellence, innovation and convenience.”
     
    In addition to its exclusive Ramadan offers, Chery UAE has announced new extended hours during the Holy Month, ensuring optimal customers’ convenience. The Chery Showrooms in Dubai, Abu Dhabi and Sharjah will be

    open from 9:00 AM to 2:00 PM and from 8:00 PM to 11:00 PM,

    while the Service Centers will operate from 8:00 AM to 2:00 PM, then again from 8:00 PM to 10:00 PM.
    Moreover, customers can benefit from the Pickup & Drop Off (PUDO) Car Service throughout the Holy
    Month and beyond.

    This service enables Chery owners to request vehicle servicing from the comfort of their homes, as Chery’s experts will pick up their car for servicing and drop it back off at their doorstep. Discover and test-drive a whole new line-up of smart performance cars while unlocking value-added offers today.

    Visit the Chery showrooms or call 800CHERY (24379) for more details.

    -Ends-